How do I figure projections for a start up business?
I need to come up with 3 year projections for a coffee shop in my area of Ashtabula, Ohio for a bank loan. There are only 2 others in town in none busy areas. Mine will be in the busiest area of town. I have no idea how to project what I will bring in daily. We will sell espresso, flavored coffees, smoothies, muffins, bagels, and a few lunch items. We will be open from 6am to 5pm. Any help would be appreciated.
You need to visit with your local small business development center to discuss the creation of a business plan. You also need to research your industry to help with information necessary for creation of the business plan . . . it's much more complicated then a simple dollar figure.
Creating a MAP will take no more than an hour of your time every month and will keep the lines of communication open, ensuring relationships with investors remain strong, and ultimately helping early-stage startups succeed.