Whether your wellness spa or salon is a startup or an established business, having access to the latest endermologie® equipment is a must. The latest generation of LPG® endermologie treatment machines not only offer the finest technology in the industry, they provide a wider range of treatment options and exciting new protocols.
Most entrepreneurs consider bank loans as being the primary source of money for businesses, only to discover that they’re often the least likely benefactors. If you have the desire purchase or upgrade your endermologie machines, but are short on capital – don’t worry. We have a few creative ideas on how to raise the financing.
This method involves using the power of the Internet to find a number of clients or interested potential clients to each donate reasonable amounts to back your efforts. The popularity of this approach has successfully spread beyond non-profits and pre-sales to include the option of making small equity investments. Consider starting one and announcing it on your business website.
Many privately-owned companies and non-profits offer small loans (often up to $30,000), to promote entrepreneurship, to individuals who either won’t, or don’t wish to go through bank financing. Examples include Patriot Express loans, and Small Office/Home Office (SOHO) loans.
Angel financing is usually raised from friends and family or high-net-worth individuals and clients. In certain cases, it’s possible to find angel groups that actively seek investment opportunities. While angels usually participate during the early stages of a start-up, they’re also often willing to help an established business with upgrades and improvements.
Because endermologie equipment was originally developed on scientific research and has undergone more than 100 additional international, research-based studies over the years, your business may qualify for a grant from the government to help fund the purchase of new machines. The SBA offers grants through the Small Business Technology Transfer (STTR) and Small Business Innovation Research (SBIR) programs. Always read the fine print when applying for government grants, but it may be wise to investigate your options.
Family, Friends and Clients
These are people who know you, know your business and should believe in you. Naturally, any such commitments should be positioned (in writing), as promissory notes or “bridge” loans, which can be converted to equity at a determined rate. Not everyone likes to approach those they know for loans, but when the subject is broached and handled in a legally-binding, businesslike manner, you might be pleasantly surprised at the responses you’ll receive.
Contact one or our endemologie business professionals and we can help you get started!