Bras and Business
At least 70 percent of women are walking around in the wrong size bra. Susan Nethero sees that as a business opportunity. The owner of lingerie chain Intimacy will open her 17th store by the end of this year. But the road to nationwide expansion wasn’t easy – she had to find the cash first.
“The biggest concern [for women owners right now] is capital,” Nethero says. “In today’s financial environment, it’s challenging to access capital affordably for growth.” She adds that these days, borrowing money means securing loans with your home or other financial investments, and there is no leniency, which is risky.
How did Nethero do it? She didn’t use outside capital until she had her first store, which she got through banking relationships for a short-term loan. “I encourage
business owners to try funding organically, as small business and bank loans require a hefty commitment and personal guarantee of assets.” Intimacy is also backed by a strategic partner from the lingerie industry.
Want more?
If you have family and friends willing to invest or some savings tucked away, these resources can help get your business off the ground, says Sure Payroll. If not, outside investors can be found at the Go Big Network and Kickstarter.
Startup Nation gives a step-by-step process for finding funds and suggests the least expensive way to finance growth is to establish a firm supplier base and explore customer financing.
Bonus PINK Link: Learn more about how our Top Woman of the Week Susan Nethero skyrocketed to success in our exclusive profile.
Minute Mentor: Hear Susan Nethero give advice to entrepreneurs on how to scale your company.
By Caroline Cox
“Women create companies they want to work for.” Susan Sobbott, Pres. of AMEX
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