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INTRO How to acquire capital for Fastlane business

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ike_stony

New Contributor
May 29, 2020
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what should One do to acquire big money in order to Start a business that meets all the 5 Fastlane commandments(NECST) which requires huge sum of money.
For Example, In my area of over 1000 workforce, there's no LPG station. we all go to different town to buy LPG which usually runs out of stock. It has been my dream to establish LPG station since my childhood. Now i'm 27yrs and I can't wait any longer to make this dream come through. I have been chasing job after job just to raise millions of cedis for this dream.
 

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Odysseus M Jones

1046, 1569, 2092, 3138...
FASTLANE INSIDER
Read Millionaire Fastlane
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Feb 2, 2020
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50.4555° N, 4.4647° W
what should One do to acquire big money in order to Start a business that meets all the 5 Fastlane commandments(NECST) which requires huge sum of money.
For Example, In my area of over 1000 workforce, there's no LPG station. we all go to different town to buy LPG which usually runs out of stock. It has been my dream to establish LPG station since my childhood. Now i'm 27yrs and I can't wait any longer to make this dream come through. I have been chasing job after job just to raise millions of cedis for this dream.
How does it satisfy Control?
Where will you get your LPG from?

How would you Scale it for that matter?
A single location with a customer base of 1000.

Not to mention Entry, you're up against Goliaths, the biggest of the big, they'll crush you if there's a profit to be made.
 

100k

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Read Millionaire Fastlane
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Oct 20, 2012
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what should One do to acquire big money in order to Start a business that meets all the 5 Fastlane commandments(NECST) which requires huge sum of money.
For Example, In my area of over 1000 workforce, there's no LPG station. we all go to different town to buy LPG which usually runs out of stock. It has been my dream to establish LPG station since my childhood. Now i'm 27yrs and I can't wait any longer to make this dream come through. I have been chasing job after job just to raise millions of cedis for this dream.
Welp, according to Billionaire Dan Pena, you need to first build a dream team.

View: https://www.youtube.com/watch?v=0yyJc7WA95Q


Once you have a dream team you can approach banks, angel investors, family offices, fund managers etc. and raise the capital using the credibility of your dream team.
 

Odysseus M Jones

1046, 1569, 2092, 3138...
FASTLANE INSIDER
Read Millionaire Fastlane
Speedway Pass
Feb 2, 2020
534
1,036
536
50.4555° N, 4.4647° W
In my area of over 1000 workforce, there's no LPG station. we all go to different town to buy LPG which usually runs out of stock. It has been my dream to establish LPG station since my childhood
If it's really your dream, you could consider it a humanitarian effort & try to collaborate with suitable agencies or organisations to make this happen.

That could be your USP if you decide to crowdfund the idea.

As 100k mentioned, if you could assemble a dream team who are aligned with the humanitarian aspect, it could happen.

If you get the right people interested in your cause it could gain traction.
 

Lyinx

Bronze Contributor
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I've Read UNSCRIPTED
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Oct 28, 2019
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Lancaster County, PA
Here is what a bunch of local guys did, they put out an ad in the paper that they were going to be buying a large amount of propane, and based on the volume, they could get discounted rates.

They did not guarantee people a certain rate, they said they would charge their cost +_% to cover delivery and their time.

They told people that deliveries would be done over the summer, so that they can get the better summer prices (around here the winter prices go up quite a bit)

People called in, said that they would take about _____ gallons (let's say 2,000 gallons)

At a certain date they said, "we have enough orders, we will be able to do all these deliveries by fall".

At that time, they reached out to vendors and asked who could do the best prices?

then they reached out to local propane companies (that owned delivery trucks anyway) and found out what each one would charge to do deliveries of propane.

And now they have a business of at least 5 people just taking phone calls most of the year, and then arranging the deal and deliveries.

They deliver the propane to your door/tank, and then charge you for it... they don't make much, but they move many gallons!

This year (if I remember correctly) it was at least 400,000 gallons! Imagine the negotiating power! :)
 

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