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Introduction

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MW

Mandee Willard-Rodriguez

Transcript

Initial Start up Costs

Closing

When choosing the best way to finance your business you need to weigh out all the options and if the bad out weighs the good I would suggest trying a different route. Also, speaking with a finance specialist might help so you don't run into common issues.

Introduction

Mandee's Photography Studio

Mandee's Photography Studio is a full service Photography business. We specialize in children, maternity, newborns, weddings, engagement, seniors, and other special occasions requested by the client.

Sources of Funding

Personal Funds

Advantages-

*You're not borrowing money or taking out loans.

*You control all your finances.

*No Fees

In these next few slides I will be showing you the advantages and disadvantages of Personal funds, Credit cards, and Crowd-funding.

Disadvantages-

*Not being able to keep up with your personal bills as well as your business bills and expenses.

*Financial Risks

*Liability

Credit cards are a form of credit you can get from various lenders so you can charge any costs you may have.

Crowd funding is a process to raise money by sharing links through Go Fund Me, Indie GoGo, etc. on social media.

Advantages-

*Fast way to bring in money.

*Great way to market your business.

*Most donors end up becoming a part of the company.

Advantages-

*Being able to purchase items or pay bills when you don't have enough personal funding.

*Credit cards can be used anywhere.

*If used responsibly you can build your credit score.

Disadvantages-

*Some crowd funding sites don't allow you to keep all the money you raise if you don't meet the goal.

*Crowd funding isn't a fast fix it takes time to get donations and people to see the success in what they're donating to help.

*If you don't copyright your business and work some people will try to take your ideas and profit off of them.

Disadvantages-

*You can go into debt fast.

*High APR Fees

*Not being able to afford the bill plus other bills or costs you may have.

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Author's Purpose

Claudia Diaz

Potenciação

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1bf - past simple/present perfect + past continous

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