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Diary of a Startup: Part III

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

By Nichole L. Torres

Opinions expressed by Entrepreneur contributors are their own.

It's all happening at once for entrepreneur Karen Jashinsky,as she journeys toward opening 02 Max Fitness, hergym-meets-teenager-hangout. We spoke with her just after our firstarticle about her company appeared in Entrepreneur, and herconcept 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 securingfinancing--she started the application process for an SBA loan."I need to put [at least] 25 percent of the startup costs onthe table, and my parents are helping me with that," she says.Considering all the interest in her company, Jashinsky is alsolooking to investors for capital. At press time, she was decidingwhat kind of equity she'd tender to investors as well asdeciding which investors were a good match for her vision.

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