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Diary of a Startup: Part III

With new contacts and secure financing, all our entrepreneur needs is a location.

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This story appears in the June 2006 issue of Entrepreneur. Subscribe »

It's all happening at once for entrepreneur Karen Jashinsky, as she journeys toward opening 02 Max Fitness, her gym-meets-teenager-hangout. We spoke with her just after our first article about her company appeared in Entrepreneur, and her concept was gaining much attention. Due to the article, Jashinsky, 28, was contacted by many willing to help develop her idea.

With her opening planned for fall 2006, Jashinsky is securing financing--she started the application process for an SBA loan. "I need to put [at least] 25 percent of the startup costs on the table, and my parents are helping me with that," she says. Considering all the interest in her company, Jashinsky is also looking to investors for capital. At press time, she was deciding what kind of equity she'd tender to investors as well as deciding which investors were a good match for her vision.

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