A loan to start a bussiness?

[Thanoz]

As i am in the process of finding an Internet Cafe franchise and start an Internet Cafe with a very good friend of mine, we are goin to take a loan from Eurobank.
Have you ever taken any loans to start your bussinesses? Or you've always had enough money to start it?

I hear by lot of people that's not healthy to start a bussiness with a loan but, if you don't have the money, is there anything else you can do?

[lokesh05]

you can also take the loans from a good bank/institution!
just make sure, to keep up with payments!
also, before taking loan, check out for their interest rates in various banks. many have different rates for diff. kind of works!

[Thanoz]

Yes, EUROBANK fortunately had a special loan plan for new bussinesses with good interest rates(at least affordable for me). I agree that the rates is the most important thing at that point!
It;s not gonna be a great loan, around 12.000 € actually but,yet it's a loan!

Do you take loans to start bussineses, or fortunately always have the the starting money.?

[lokesh05]

prefer not to take loan! though it's a personal choice of everyone, but, in current times when world economies are going into recession, one has fear of where interest rates might go!

[Fergal]

Many successful people have started their businesses with loans, in fact I would say that most have. Obviously borrowing has a cost, and like all other costs you should work to keep it as low as possible.

Be careful not to borrow too much, or more than you need. However, you should also be careful not to borrow too little. Your bank won't be impressed if you go back to them soon after start-up looking for more money, because you didn't apply for enough in the first place.

What city / country will your business be based in?

Wishing you the very best of luck with it.

[Thanoz]

I am moving Back to Athens, Greece at June (Finally leaving from Cyprus!) and have noticed that in my nearby area in Athens, there aren't any internet cafes..So..since there lots of kids too(the current law here allows 14+ years old kids to enter such places) i along with a friend are seriously thinking of taking a franchise and start our Net Cafe.
We are still on the plans though, but we've found EUROBANK as the ideal to get a loan. Hopefully at October/November we'll start our bussiness.

Thanks for your wishes!

[Fergal]

Have you found any suitable franchises?

What advantages do you think you will get from using a franchise?

[Thanoz]

Have you found any suitable franchises?

What advantages do you think you will get from using a franchise?

The franchise i've found gives me the following:

a very cool internet cafe name ;)
The hardware i need(PCs,trouters) at a very good price
Technical support
Software,Billing software and games
The customers will be able to play on the private(and rely fast and quality) servers the company has

and some others..times better than starting alone!

[Fergal]

Sounds like they are offering a good franchise package Thanoz. Those supports you mention should be very helpful in getting your business started.

Do they offer support with business planning and training to run the business?