Business Plan
If you are either going to finance your new or existing coin or card laundry store through traditional lenders or private investors you will need a Business Plan. If you are going to open or invest in any business, you need a business plan for your own analysis of the venture you are about to enter into. Your business plan puts all of your expected income from all of the business’s profit centers as well as your fixed and variable expenses, over a three to five year period into one readable document. It tells you and your investors or the finance company that you have an understanding of your market, as well as the business you are entering into, and the income and expenses that you will encounter. It is much more than just a jumble of numbers and wishful thinking.
Your business plan should include a statement of your (and your partners) background, education, work experience, and family. A résumé is a good place to start. Another part of your business plan is an explanation of what you are trying to accomplish, where you want to put your business and why you believe it will be successful. You should discuss your competition, and what will make your business a better service in the community. You should discuss the industry that you are entering into, and its prospects for long term growth. You should discuss the need of your business within the community and your role in the business. If you have partners, each one should be mentioned as well as their background and role within the business.
As we have done for hundreds of our clients, ADL Consulting can assist you in putting together this most important document into a comprehensive plan for both you, your investors and / or finance company.
If your business plan is well researched, reasonable, and contains all of the elements specific to your venture it becomes your internal measurement of how you are managing the enterprise. Remember it is a “PLAN” it is not reality. Reality is going to be your success in implementing the “Plan” as well as following through on the “Plan”. You, as a business owner, will need to make monthly or quarterly adjustments to the business plan and doing whatever is necessary to come as close to or exceed your earlier expectations. ADL will always be available to you as an advisor or mentor to help you achieve your goals and expections.
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