I am looking into buying my first laundromat and was talking to a distributor about financing. He informed me that a lot of lenders would like me to have some skin in the game with about 100k of my own money into the business. I’ve never started my own business so I was wondering if this seems right and are there any ways to not sink a lot of peronal money into purchasing a laundromat I’ve always heard of using other people’s money when starting a business.
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