Man, you guys got slammed in the comments. Thank you for going into your plan and giving a glimpse of what it would take up front. I really appreciate it!
Skateshop is what my country needs rn, as far as i know there are only few shop we have here in ph. So I came up to this idea that what if i try to start this kind of business it would be an easy click in our city but since I'm just a 21 yr old guy who has a dream like this maybe it takes a lot of hard work and yrs to fulfill it but it will happen soon!.
i got a question. if you're.planning to start a shop and want to have supplies first. is it possible? coz most of the distribution dont sell if you dont have a physical store o shop
You guys are approaching this like a bunch of high school students. You need at least 6 months of operational cost up-front. In addition to 6 months of operational cost, you need a healthy marketing budget projected over that initial 6-month grand opening phase. Finally, you need a healthy inventory to carry you over the 6-month period. So here's a basic breakdown: -$1200 all business documents and registrations -$7,500 x 6 months rent paid -$1,200 x 6 months electric and all utilities -$3,500 x 6 months aggressive local marketing campaigns -$25,000 * 6 months wholesale merchandise orders -$3,600 CCTV and security system installation -$15,000 x 6months Employee and workers compensation insurance -$3,500 x 6 months petty cash and overhead expenditures Your initial loan request should be somewhere around $340,000 US dollars. After 6 months of operations, the business should be turning over a profit. The period and duration of repayment should be at least 3 years with monthly payments reduced. Any profits made over the sum of the monthly payment to the bank should go back into the business. Remember, you will need to keep your business afloat after the projected 6-month period; otherwise, you'll go bankrupt very soon thereafter. This means; even if you see profits in your monthly balance of more than $20,000 in excess of liabilities, all that money needs to go back into the business account, so that money can carry your business over the initial 6month phase of opening.
@@EldenSondakh The whole reason behind high school is to prepare you for the adult world. The class project should have been approached from an adult "real world" perspective. So, no I wasn't joking. If I was the teacher grading this assignment, I would be handing out failing grades.
