By BOBBIE GOSSAGE
“Whitney Houston and Celine Dion power ballads at karaoke bars in her hometown of Phoenix. But in 1993, when Frerick tried to turn her passion into a business, no one wanted to listen. Forget about bank loans: She couldn’t even get a second mortgage on her home. So she found easy financing in her own wallet. Using two credit cards, she charged $5,000 for a custom karaoke system and music. With her new equipment in tow, she traveled around town, hosting private parties and corporate shindigs. Three years later, when she and her partner, Kevin Steele, opened Karaoke Star Store & Stage, a retail equipment store, she used her cards to pay for supplies and inventory. ‘I thank God for credit cards,’ says Frerick, 39, who now boasts 14 employees and revenue of more than $2 million. ‘They’re the easiest way to get money.'”
– Here is the core idea of this article, ‘…learn to master the art of credit cards now.’ Just be very carefull is all that I have to say. It is easy to get in over your head and destroy your business. -ed.