| Wednesday, November 20, 2024 | CONTACT |
Consulting Services: Service 1
Pre Opening Financial Planning (Financial information necessary for Bank Loans)
$1,800.
Having prepared hundreds of pre opening financial projections for clients over the past 15 years, I consider this a "must" service for anyone considering or planning a new coffee business. I can honestly say, I've done far more financials than any other industry consultant!
Knowing what it will realistically cost to start up your new business, and then being able to estimate its probable performance once opened, are critical factors in determining your chances for success. Will you have the necessary capital to finance your business?
In the 15 years I've been doing coffee industry consulting, the number one reason I've seen people fail is: insufficient financial resources to keep their business open until it could reach profitability. Don't gamble with your hard earned life savings! With this important service, you can understand in advance, the investment it will require, and your "realistic chances for success". It's much wiser to spend $1,800 to find out your proposed business may not become a roaring success, instead of discovering that fact only after you've invested $200,000. to $300,000., or more!
Creating a customized Financial Plan for your proposed business begins with sending you a detailed questionnaire via E-mail, in which you can describe your business vision, and provide information about your unique market, financial resources, income ambitions, etc. We will then schedule a 1-hour phone conversation to go over the questionnaire in order to gain a greater understanding of your situation and goals, and then discuss ideas to increase your chances for success.
The resulting financial information will provide an achievable, realistic budget for all aspects of store build out and business start-up. It will include projections (what should be achievable goals) for the first three years of operation. Estimated start-up capital, operating capital, and projected "break-even" estimates are all included.
Ideally, these projections should be formulated prior to signing the lease on any location. They will give you a clearer understanding as to whether you have the capital necessary to execute your project successfully. They will also give you an important perspective as to the location dynamics, and the volume of business that will be necessary in order to succeed. Because the actual costs of developing the location you eventually choose may differ from those shown on the first draft of these financial projections, you will be entitled to one, complete, complementary revision at no extra charge.
If you find it necessary to borrow funds from a lending institution or financial investors to open your new coffee business, these financial projections will provide the exact information they will be looking for.