Monday, May 11, 2015

Planning for completion

I have found a property that is currently listed on the market, which would be perfect for creating such a venue. I have been using the information from the property to develop estimates for cost. I have completed creating a list of all the potential employees that are need along with the cost for those employees. I have been debating whether the event center should be bought or leased, and I have came to the conclusion that it would be best to buy the property to avoid any issues with the land owner, and to gain a profit when selling the property. I have had a lot of progress on completing the business plan. However I am having some challenges developing estimates for things such as expected cash flow forecast, the profit-loss comparison, start-up cost, etc. I plan to look into similar businesses to compare my business plan's estimates to their actual results. For the next two weeks, I plan to gather all the necessary data, and to complete the business plan.