How would you start a hotel chain focus on eco, sustainability, and veganism without experience/capital?
I was kinda inspired by the Purpose Hotel in Kickstarter (using painting from people hurt in war, naming each room after an adopted child). I tried asking Knights and Frank, P2P lenders like Minterest and Coasset and was unable to figure a good plan.
The expected capital is high because land prices are expensive and competitive.
Lending is difficult without any track records or too expensive to sustain with earning as capital is mostly used on land and not operations.
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If you really want to do so and don't have sufficient capital of your own to start, your best bet at this stage might be a consortium of business angels, or the famed F, F & F ;)
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Irsyad Ramthan
17 Oct 2019
Co-Founder and COO at Young Sustainable Impact Southeast Asia
The most straightforward answer I'd suggest is not to do so right off the bat if you have neither ex...
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I wouldn’t encourage entrepreneurs to start a business taking a loan. Quoting Mark Cuban’s famous line, “Only morons start a business on loan”.
Try not to get discouraged by the initial or perceived capital outlay of your business/project. Institutional lenders provide you with quotations based on historical data, and thus, the high perceived cost of starting your business/project.
(Often, they're quoting you the capital outlay to build that product X amount of years ago. Which might not be relevant today due to technological advancement and innovation)
The best entrepreneurs can innovate and find ways to fight through and solve whatever problems they have in front of them.
Never forget how Airbnb started; their minimal viable product was an air mattress in a living room, charging users $20 per night. Boot-strapped for 2 years before finally raising their seed round of funding. Look at what they’ve achieved today.
Hope this helps!