A business plan is an exercise that banks require for those
seeking funding. It is a worthwhile and
laborious process fueled by a lot of questions about intent, budget, market
strategy, philosophy, and much, much more.
Currently we have 23 pages that specifically outline the
Vision and Purpose Statement
Summary and Business Description
Location and Customer Demographics
and Management Plan
and Beverage Program
Each section is scrutinized and analyzed for accuracy, logic
and sage business decisions. The irony
is that the data is mostly hypothetical.
Collectively we’ll apply all of the lessons we’ve learned in our
previous roles but until this project is live, who knows how much of the plan
will be used or whether we came close to the targets.
We’re in final edits now and the next steps are to shop it
around to various banks/lenders for pre-approval discussions. They will also be testing us on the 4 “C’s”…
Capable, Credit, Collateral, and Cash.
More to report on soon.