Crowdfunding like kickstarter perhaps?
Well, be on here on and off this site for a while now and just been thinking about something on my mind. What would be the best way to get your start up money? I know a loan would kill me to do but what other ways would be best? I am not looking for a big start up money. really don't want to deal with a bank. any advice? Thanks!!!
Crowdfunding like kickstarter perhaps?
Crowdfunding might get you something, but unless you have lots of generous friends, it's not going to get you nearly enough money to get started. I would say #1 is to limit how much you need up front, which you already eluded to. You will not be able to have the haunt of your dreams right off the bat, so the goal is to start small but good and a good value. Our first year, we didn't have much money, so we went with an outdoor trail to save money, but put as much value into it as possible. We also kept our ticket price reasonable, so when people were coming out they often were saying how it was definitely worth the money and they would be back next year.
#2- For a business like this, friends and family are probably your best bet for finding startup money. It's going to be very difficult (but not impossible) to convince a regular investor that you will deliver a good return on their money with a risky seasonal business. So do you have any friends or family members that believe in your passion for this that would be willing to put up some of the money? This can be a tough way to go as well because you don't want to put stress on any of these relationships, so make sure they completely understand the business and the risks involved.
#3- Find a partner. Do you know anyone that could help not only from a financial perspective but creatively? One of the main problems with haunted houses is that they are often either run by a creative person that doesn't know business or vice versa. The perfect combination is to have both a creative person and a business person. If you know someone, it might be worth asking about, or try networking with other haunters in the area that might be able to help get it off the ground. Even if they don't have the finances, they might be able to help contribute with people in their network of friends and family.
Best of luck.
Money? Who needs that?!
Friends and Family......ouch! No way dude, when they give
You a combined 15-20k and you can only pay back 10, how do you think it will effect
Your personal relationships with them? Do not do business with family or friends.
A partner? This ones not a bad idea. But maybe not a partner in the traditional sense. Reach out to property owners located appropriately within your market, (including proper zoning) and explain your situation professionally,
And see if you could use their property for 10-20% of the net sales. Note, not profit, SALES. 50/50 on a startup haunted house for a couple years is just a waste of time. There's not enough money to make half of a $10,000 in sales seasonal haunt worth it.
Why money? Why do you need more of it? I rarely buy anything new as far as props go. A local beer distributor gives me pallets by the truckload for my outdoor haunt. I buy used and in bulk. If a haunts going out of business I'll go and buy almost everything if the price is right. You can't just open and have the best and greatest haunt. Start small, develop a following and let the market decide (and pay for) your growth.
Have you visably worked long and hard enough to possibly impress someone on the job site who might have the funds to invest in YOU?
Think about this.
They know "YOU" and will be loaning to "YOU". I believe this is their best bet and so do they. (If there is a "They"?)
Looking back on my trials and tribulations of coming up with the only meager funding I needed here to get started, both of the eldely gentlemen who loaned me money knew me and how I worked. They also knew my Father very well as he had worked for them before I came along.
IF what I said here would just so happen to be an option for you, I will be very happy to have possibly helped you.
The major and first "Donor" to me was a person who did not follow popular thinking or follow the safe crowd, and he did financially flourish because of this thinking, so to him my idea of a year-round haunted house held possibilities because he had also bucked the "system" and "went -for-it".
The second contributor came to me and offered me money also because his Grandfather had told him stories about the house and he did not wish to see the house destroyed (any more than it already had been.)
I got Very Discouraged in my search for investors until I realized I should be looking for someone that thought their own thoughts when it came to where they put their money.
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