Financing Your Next Balloon or Inflatable

Lease Alice

If you’re in the business of events, entertainment, or advertising, you know how important it is to stand out and attract attention. Balloons and inflatables are a popular and effective way to do just that. Whether you want to create a festive atmosphere at a party, draw crowds to a product launch, or advertise your brand in a big way, balloons and inflatables can do the job.

However, purchasing a balloon or inflatable can be a significant investment. But, we consulted our friend from Money Zap, Frank Glemstone, and he decided to show us the best way to fund your balloon business. So, without further ado, let’s take a look at how you can borrow money or find potential investors to join your cause. 

Traditional Financing Options

When most people think of financing, they think of traditional options like bank loans or credit lines. These options can be a good choice if you have a solid credit history and collateral to secure the loan. Here are some of the traditional financing options you can consider:

  1. Bank loans: If you have a good credit score and a business plan that demonstrates the potential for profitability, you may be able to secure a loan from a bank or credit union. These loans typically have fixed interest rates and repayment terms that can range from a few months to several years.
  2. Credit lines: Another option is to apply for a business line of credit. This gives you access to a revolving credit account that you can use to make purchases or pay bills as needed. You only pay interest on the amount you borrow, and you can repay the balance at any time.

While traditional financing options can be a reliable way to fund your balloon or inflatable purchase, they may not be the best choice for everyone. 

Alternative Financing Options

If traditional financing isn’t an option or doesn’t suit your needs, there are several alternative financing options to consider. Here are a few examples:

  • Equipment leasing: With equipment leasing, you can essentially rent the balloon or inflatable and make regular payments over a set term. At the end of the lease term, you can either return the equipment or buy it outright. This can be a good option if you don’t have the cash or collateral for a traditional loan, but still want to use the equipment.
  • Manufacturer or supplier financing: Some manufacturers or suppliers of balloons and inflatables offer financing options for their products. These financing options may have lower interest rates and more flexible repayment terms than traditional loans. This can be a convenient option if you already know what type of balloon or inflatable you want to purchase.
  • Personal loans: If you have good credit and can’t secure a business loan, you may be able to get a personal loan to finance your balloon or inflatable purchase. This option can be more flexible and easier to qualify for than traditional business loans but may have higher interest rates.
  • Credit cards: Depending on the cost of the balloon or inflatable, you may be able to use a business or personal credit card to make the purchase. This can be a convenient option if you need to make the purchase quickly and can pay off the balance in a timely manner.

Crowdfunding

Another option for financing your balloon or inflatable purchase is crowdfunding. Crowdfunding allows you to raise money from a large number of people who are interested in supporting your business or project. There are many online crowdfunding platforms available, such as Kickstarter or Indiegogo, that can help you reach a wider audience.

To launch a successful crowdfunding campaign, you’ll need to create a compelling pitch that explains why your balloon or inflatable is unique and why people should support your campaign. You’ll also need to offer incentives for people who contribute, such as exclusive merchandise or experiences.

Crowdfunding can be a great way to raise the funds you need without taking on debt or giving up equity in your business. However, it does require a significant amount of effort and marketing to succeed. It’s important to carefully plan and execute your campaign to maximize your chances of success.