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fasin8ing
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12-10-2006, 06:49 AM
Post subject: Business Plans for a bar
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#1 (permalink)
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Full House
Join Date: Aug 2005
Location: Germany
Posts: 1,063
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Anyone that can give me insight on financial projections and how to compute such will be a genius. I need to know how project with explanantion, financial assumptions for the next 4 years... Any suggestions? Bar is from ground zero without any previous financial data.
BTW I havent posted for a while.. I love you all ! Happy Holidays to all.
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Da GOAT
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Straight Flush
Join Date: Feb 2006
Location: Dublin
Posts: 4,308
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if you can come up with figures for the first year then just add on % increases every year. as long as you have confidence in talking to the bank manager/ investor than you are gold.
so to come up with base figures;
-try look at the accounts of other bars in the area (maybe hard to find since they probably arent willing)
-research the local bars (just go in for few nights a week, note the staff numbers, customers etc), a bars business can be very transparent.
-ring up suppliers and make deals etc.
-sort out your tax registration too to see if you get certain reliefs etc.
PS its all very common sense but thats all business is, just keep it simple.
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Jman: every time the action is to you, it's an opportunity for you to make the perfect play.
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gabe
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Moderator
Join Date: Dec 2004
Location: trying to live
Posts: 7,964
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you have to get a degree
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LeFou
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4-of-a-Kind
Join Date: Jul 2004
Location: Dallas, TX
Posts: 2,361
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Just keep the music at a reasonable level for God's sake.
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boost
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Full House
Join Date: Mar 2005
Location: Chicago
Posts: 706
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Quote:
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Originally Posted by gabe
you have to get a degree
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atleast a masters, but in most scenerios youll certainly require a phd.
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bigred
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PROFESSIONAL TROLL
Join Date: Sep 2004
Location: Nest of Douchebags
Posts: 2,184
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Quote:
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Originally Posted by boostNslide
Quote:
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Originally Posted by gabe
you have to get a degree
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atleast a masters, but in most scenerios youll certainly require a phd. |
My sarcasm detector is malfunctioning. You're joking, right?
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LOL OPERATIONS
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gabe
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Moderator
Join Date: Dec 2004
Location: trying to live
Posts: 7,964
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to get the joke you need a GED
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bigred
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PROFESSIONAL TROLL
Join Date: Sep 2004
Location: Nest of Douchebags
Posts: 2,184
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good enough degree!
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LOL OPERATIONS
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zook
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4-of-a-Kind
Join Date: Mar 2006
Posts: 3,676
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Quote:
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Originally Posted by LeFou
Just keep the music at a reasonable level for God's sake.
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lol, LeFou's old
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salsa4ever
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Full House
Join Date: Jun 2005
Location: Melbourne
Posts: 1,073
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in case you're still trying to work it out, here's someone who has a degree... you're in luck!
1. how much will you take in?
2. what are you expenses? think rent, wages (bargirls, bouncers, DJs, cleaners whatever), insurance, electricity, water, cost of goods (drinks). Ignore once-off expenses for now
(for some of these things, you'll find it easier thinking in years, for others, in weeks). Just convert everything into 1 year units.
3. what are you once-offs? Anything you have to buy or make that will last. Pool tables? Fixtures and fittings? Glasses and chairs and tables? Probably reasonable to divide by 10 and use that number as your fixed expense per year (it's called depreciating, straight line over 10 years. You can use another method, but that's just my assumption that has no base). For a cash flow projection you'll take it all off straight away.
4. now it's going to grow. Expenses you can assume grows at CPI. Or be more conservative and say 5% a year. Sales, you can project however much growth per year. Then for each year work out your sales and take off all the expenses. That's your profit for each year.
that's basically a crash course in financial projection. If finance is not an issue (i.e. you're rich and you just want to make more) then the profitabiliy is the key. If you have to watch your cash, then you must make a cash flow statement. Most businesses go down due to insufficient cash flow than bad profitability (although bad profitability will usually lead to shit cash flow)
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Quote:
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Originally Posted by bigred
Would you bone your cousins? Salsa would.
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Quote:
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Originally Posted by salsa4ever
well courtie, since we're both clear, would you accept an invitation for some unprotected sex?
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