Financing Options and Resources for a Mobile Auto Detail Business

Will I Need Financial Help?

The costs to start up and begin a mobile auto detail business are relatively small. This makes it very attractive to start a company of this type. You may be able to subsidize your start-up costs with an existing line of credit or from your personal savings. If you have your business vehicle, storage for your equipment and a computer, you can usually start the company with a relatively small investment. The more you have for initial investment, the more your earning potential will be at the start. Below are some methods to obtain financing to start your mobile car detailing company.

Credit Union or Bank...

Some credit unions or banks have financing that is available for the start up of small businesses. If you want to be considered seriously for a loan make sure to have a solid business plan to present them with. This can help them determine the viability of your new start up company.

Family or Friends...

Another good source to help in financing your car detailing business is your family or friends. This type usually can have favorable terms. There are a number of companies that help you to formalize a loan between family or friends if this would make you feel more comfortable. In making the business loan official will help to reduce any awkwardness.

Using Credit Cards...

Some new business owners may use their credit cards to fund their business. A credit card can allow you to make needed start up purchases or in obtaining a cash advance and pay them back later when you are genterating income. Use caution with the cash advance approach as most credit card companies will charge 2%- 4% of the face value of a cash advance as their fee.

The Small Business Administration...

Your local Small Business Administration (SBA) office can be a big help. This organization is tasked with promoting economic growth by supporting small businesses. Its mission is in helping you to succeed! They offer many general resources and are a great place to find out more information that is not finance-related. www.sba.gov