Business plan ?s: Finacial Projections and Management Team/Entertainment- Wine Bar-Restaurant

[RDHendy]

Currently working on my business plan for a wine bar. I have the business description and vision, Description of product and services and Definition of market. I am still about two years out from being able to do any real work as i am still an active duty Marine, but i am trying to get as much done to hit the ground running. Capital will not be too much of an issue with respects to being a veteran and access to all the benefits we receive as entrepreneurs. But i am stuck. When it comes to financial projections and management team descriptions for my business plan, i am not sure what to do. It seems like you have to already have a business running to put together a proposal. The management team in particular is difficult. I have a few people behind me on this already, but when it comes to a chef, sommelier, architect and other key restaurant staff i don't know who to let in on my concept before I have it moving forward. How much of your business plan do you share without getting your concept ganked? I would also like to share what i have with anyone outside my competitive market who may have advice or hey, shoot for the stars here - silent partners

[generationy]

Dude! Love your question! As for financial projections I'd simply say that you need to list your costs first. What would it cost for renting? for equipment etc. and do that on a weekly basis and then a monthly basis. After you have your costs done, then you can calculate how much it is that your product has to sell for to break even. After the break even point, increase your retail price by 30-40% to make some profit (afterall you do want to make some $). That should give you enough room to reduce prices for wholesale and sales etc. that eat into your profits.

After that, get together a projection of how many units you are looking to sell per week, per month, per year... That will, along with the previous steps, give you an idea of where your financial projections will be on a weekly basis and monthly to show others.

Also, don't go around sharing your idea. Share with people you trust and know are trust worthy (reputable entrepreneurs etc. such as mentors). Good luck!