How to Use My Credit Card to Start Up My Children's Store Business
- 1). Review your credit card limits and terms and conditions to understand how much money you have available to spend on your credit card. Do not use all of the credit on your business.
- 2). Create a business plan to initially start up your children's store with bare-bones resources. For instance, the store could be an online store where much less start-up capital and overhead are required than for a store in a physical location.
- 3). Write a promissory note between yourself and your company for the amount of money that will be used. Provide a set amount of time for payoff or future refinancing to remove your personal credit card from the business operations.
- 4). Purchase the supplies, equipment and inventory required to begin operating your store with the money from your credit card. Select and pay for your website host and Web developer if you will have an online presence. Work with a leasing agent and price furniture if you will have a physical presence.
- 5). Purchase marketing materials to promote your business. Make sure you have enough materials to share with a large sample of your target customer market.
- 6). Write all purchases down and retain receipts to preserve data for your financial statements.
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