Financing (Financial Management for Music Retail)
Capitalize your business. Music retail requires a substantial amount of capital to become profitable. Instrument rentals are an example of long-term profitable activities that typically require bank financing. Learn the “Three C’s” to borrowing money: credit, character and collateral. Discover the seven items and financial details to provide to your banker when you request a loan, plus 10 tips to enhance your chances of getting a loan. Understand how and why to finance short-term assets with short-term debt and long-term assets with long-term debt. All of this information will help you get the overall financing you need.