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Way back when, when I started my online t-shirt business, I just used credit cards to buy my first batch of t-shirts printed with my design, pay for my webhosting account and domain name. I had already learned HTML, so I designed the website myself.

After a while (ideally) the business pays for itself and become self sustaining (and profitable).

There are definitely other ways to go about it, that's just the way that sounded good at the time.
 

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I am old and I retired and I asked my wife if we should do this. She said yes, anthing so you don't keep bothering me all day. Go find something to do.Ahhhh, retirement. Ok, I am not that old. I used money from my cat site website that was in my paypal account and bought what I needed. id websites partime and my own hosting so that part was easy. I actually have 7 websites of my own.
 

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I actually have 7 websites of my own.
You don't wanna know how many websites I have ;)

Back to the topic though, I think that's one of the attractive things about selling t-shirts online (the low startup capital required).
 

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Rodney said:
You don't wanna know how many websites I have ;)
I do! :D I owned a traditional business before, with a physical warehouse and phone lines. That lasted a while but just couldn't compete because of high overhead. Now at 28, I have a real job during the day but slowly building a side business so I can work from home. Good thing I'm very sociable so I have a lot of friends to help me out with little things. That and my awesome wife of course LOL It's amazing to see how many things you need for a small business, from paperclips to computer network. I've been with the current company for about 6 years now. It's fun but I rather not spend my entire career here.
 

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Rodney said:
You don't wanna know how many websites I have ;)
I know for a fact that they are many!

Lots of them I have found by accident, Mr. "Circle R"!;)

Personally, I've just used discretionary income.

I'm fortunate enough that my wife and I both have full-time jobs, and can live very comfortably on 1 income. So we break the other income into personal savings and business capital.

Also, every penny that we have made selling shirts has gone back into the business account.
 

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Depending on how much you're looking for, you can always turn to your chamber of commerce. They've got a plethora of information on starting your own business, plus they can direct you to local funding companies. These companies are funded by our government or the SBA (Small Business Administration) who is funded by the government. I myself am working with a company called SEED (Sout Eastern Economic Development) in MA. They specialize in helping entrepreneurs through funding, workshops and one-on-one counciling. And best of all... It's free! Well except for the borrowing, but even that's much better than going through a bank, plus I get support when I need it. Some might take a deeper interest in your business where they try to tell you what you can and cannot do, so do your homework. SEED has been phenominal to me in so many ways. My payment each month is actually less than half my car payment! So for a little help, it was worth it to me rather than trying to do it on a shoe string or borrow from family...ugh... Hope this helps!
 

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Re: Where is everyone from

ydargenson said:
How do you all get money to get your business running for the first time??
I personally believe that the credit card route is the best way of obtaining start-up cash. You can usually get your first 12 months with 0 APR as long as you pay the minimum balance. Hopefully after that your t-shirts will pay for themselves. The only risk is putting your credit score on the line if you cant pay after the 12 months/minimu balance during.
 

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I stopped Super Sizing my lunch and dinner and learned how to make hot dogs. I also canceled my Satellite TV and my Blockbuster Movie subscription, stopped text messaging on my cell and only call people at night.

OK, I'm just kidding, I never did learn how to make a good tasting hot dog, but my point is that sometimes coming up with money to start a new business can be as simple as not wasting money on everything else. Especially one with such low startup costs.

Now if I could just get my hands on a DTG printer before my van breaks down again.
 

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Get ready for reality.... It's NOT FREE

Limit yourself! Don't waste a bunch of $$$. Talk to a pro (in person) and weigh your options.
Put your $$$ into 5 shirts. Let them fund the rest. GOOD LUCK :)
 

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Personally, I don't do debt at all.

I don't know if you guys have heard of Dave Ramsey. He's a financial counselor here in Nashville with a national radio show. He's been on Oprah, 60 Minutes, and is about to get a CBS reality show helping people with their finances.

I've been listening to Dave since I was a teenager (I'm now 31!) and he preaches no debt, and saving and investing (mutual funds) like crazy. That's what I've always done. So I don't do the credit card thing or business loans.
 

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Well, there are good debts and bad debts. The goal is to use money to generate more money, even if you have to initially borrow the money. Borrow a lot of money to buy an expensive car that will depreciate is a bad debt, but borrowing $5k to invest in initial equipment for your business is considered a good debt. Also, of course you don't want to borrow way over your head.
 

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That's debatable.

Your equipment will also depreciate. And if your business goes under you now have a piece of equipment with a loan of 5k plus interest and your used equipment is now only worth 3K.:( :eek: Since most small businesses fail in their first year, it's still a risk, and one personally I just don't take.

People have their own preferences. I just don't borrow. I consider all debt as bad.:cool:
 

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obviously, if you put everything on your credit card, you're personally liable...which is pretty scary. good thing? think about all those reward points!

all this is why i went with the CP route...such a low startup cost. startup was actually $60 for the CP account and like another $20 for domain purchase and hosting. we made our cost back in the first month which is nice :) i figure that as this business grows, we can save the money we're making and use it as capital to grow outside of CP. we'll see how that goes lol.

i'd LOVE to open a physical store but the costs in NYC are pretty crazy as you can imagine. i've actually started looking into people who are selling their business...they've already done most of the hardwork involved in starting up a business which is pretty nice.
 

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Comin'OutSwingin said:
That's debatable.

Your equipment will also depreciate. And if your business goes under you now have a piece of equipment with a loan of 5k plus interest and your used equipment is now only worth 3K.:( :eek: Since most small businesses fail in their first year, it's still a risk, and one personally I just don't take.

People have their own preferences. I just don't borrow. I consider all debt as bad.:cool:
Yep, definitely debatable :) In the example I provided, the equipment itself is tax deductable. You don't need to pay premium on insurance monthly. You still in the end lose a lot less, if at all, then borrowing $25k for a car, + maintenance and monthly expense. THere are many other example where good debt will generate even more money. A couple of years ago, real estate was also one of them. Someone spent $40k for a down payment of a house is now holding over 600k in equity, where someone spent $40k for a Corvette is now w/o a tax shelter, equity, and is paying for someone else's mortgage. Of course each case is completely different, and each person's perspective is completely different, but there are clear differences between "good debts" and "bad debts". You can never live completely debt free, so pick wisely. :D
 
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