Selling your Structured Settlement to Start a Business

Selling your Structured Settlement to Start a BusinessStarting a business can be one of the most exciting – and expensive – times in a person’s life. A fledgling business requires care and nurturing to grow from an idea into a fully functional company, complete with employees, office space and real revenues. If you have a structured settlement or annuity you may be wondering as to whether selling it to fund a new business is a good idea, so let’s take a brief look at this idea to determine whether or not it’s a good one.

Assess the Risks Involved with your Business Plan

Before liquidating a structured settlement to use the lump-sum cash for a business you’ll want to run through the risks involved with your business idea a number of times to ensure you are ready to face them. Starting a new business without proper planning is an excellent way to burn through huge amounts of cash very quickly with little to show for it at the end of the day.

Once a business plan has been vetted through a few successful business owners and has been rewritten to death, it’s usually in much better shape. Having those with experience throw some cold water on your ideas can always help, so seek out their advice sooner rather than later.

Check for Other Sources of Financing

As it is when thinking about selling any form of personal investments, you might want to look for “cheaper” money in the form of low-interest loans or angel investment before selling your structured settlement. Entrepreneurs with very well thought out business plans are generally able to find financing from banks and others in order to get their ideas off the ground and into the marketplace. The downside with this approach is that it may require giving up an equity or ownership stake in the business, which some entrepreneurs are not willing to do.

Is your Structured Settlement Going to Be Enough?

The cold truth when starting a business is that expenses can quickly spiral out of control – even when your budget has been carefully thought through. You’ll want to ensure that the cash you receive for selling your structured settlement (especially if this is your main source of financing) is going to be enough to handle your business startup costs and the first few months of operation. If not, you might want to consider speaking with banks, family and other funding sources to ensure you have enough to stay afloat in the beginning.

When you’re ready to discuss selling that structured settlement the team here at Rapid Cash Funding is ready to help make sure you get the most cash you can for it. Call us any time at 1-877-63-RAPID and one of our friendly staff members will be happy to chat with you about the structured settlement sales process. We look forward to speaking with you! beste online casino

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