Starting a business and raising money?

hi. how do you start a business that you might want to francise out later if its successful and how in the world do you raise enough money (or capital, is that the same thing?) thanks!

oops forgot to say my family doesnt have much to give and i went through a personal bankruptcy only about 2-2 and a half years ago!

There are two ways of raising money. You either risk your own money or you risk other people's money.

If you take out a small business loan (most banks can help you with this), then you are risking your own money.

If you ask other people to invest then you will need legal paperwork that explains what portion of the business they own, how much they get from the proceeds, what happens if they want out, what happens if you want out, etc.

Otherwise it really depends on the situation and type of business. The bank and others will not give you money unless they believe your business has a good chance of at least breaking even. So you will need a very detailed plan explaining how you will break even, and what the worst case situation would be.

write a good business plan and go t o a bank. or tap into relatives and soon to be ex-friends