I have come to the last part of my business plan so I can apply for a mircoloan ($6000). I am stuck on the financial area and unsure how detailed I need to get. Sample business plans aren’t enough help for me as none are similar to what I am selling. I am having difficulties on describing cash/financial info needed to share with the bank/lender. My business will be a same, home-based antique shop from my attached barn, about 300sf. My products will be bought directly from auctions I attend, repricing for profit sales with 50% to 400% mark-up. Can you please assist? Thank you!
To use your business plan to grow 30% faster than the competition, you need to track your actual results - the sales that you get and the expenses that you incur - against the goals that you set out for yourself in your plan. If things aren’t going according to plan, perhaps you need to adjust your budgets or your sales forecast. If things are going well, your plan will help you think about how you can re-invest in your business. Either way, tracking your progress compared to your plan is one of the most powerful things you can do to grow your business.
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