Business Planning
Thu, 07/11/2013 - 15:57 — tgr4y8
Very nice information contained in this site. Thanks.
I am in the dog daycare planning stages. Business plan written and have speaken to retail broker and business consultant for feedback and advice. I was given great feedback, and wonderful support to move forward. So.....this means it is closing in on the time when I will need to go to bank to ask for a loan.
I was given some great advice regarding creating a pitch to present, but am overwhelmed by the thought of it; there is so much that has to so right in such a small overview of everything. Is there somewhere on this site I might be able to find Pitch assistance, much like the Business Plan - it was wonderfully helpful as I laid out my own plan to assure I had incorporated, and thought about, so many details. Any advice is appreciated.
Thanks!
Mon, 10/14/2013 - 05:59
#1
Re: business planning
As to "pitching" a bank, the most important thing is to make sure that your (projected) numbers make sense, that they are based on fact and that you can back them up. Remember if your expecting the bank to loan you x amount of dollars they will only do so knowing that the projected business venture will create the requisite income so as they may be paid back. Take a look at all competitors in the area, how full they are, how nice their facilities are or are not, make comparisons, show the occupancy rates and apparent demand to the bank. A pitch it like any other sell, the first step to selling it to someone else is selling the idea to yourself. If you don't believe in it, there is no way you are going to have the abilty to convince someone else to.
-Bandit
