![]() ![]() New small businesses that need a loan to get started are in a classic catch-22: lenders will want to see a proven track record before they lend you any money, but you can't establish the track record until you get the loan. But do you have the staying power to make it through those critical first 90 days? Getting a loan for your new business It's opening day and you are ready to serve customers for your new business. Figuring the costs of running your new business Many activities must be undertaken and expenses incurred before you are fully ready to open your doors for business. Our case study of a ficticious sandwich shop outlines many of the expenses you are likely to incur during your first three months of operation. Case study: Figuring business costs for the first 90 days ![]() The greater the revenue, the less you'll have to come up with from your personal resources. To get an accurate read on how much money you'll need to keep your business running in the first 90 days, you'll need to figure out how much revenue your business will produce in those 90 days. Forecasting sales for your startup business For example, if they estimate that they will have $120,000 in sales revenue, they typically presume that they will do roughly $10,000 per month in sales and plan accordingly. When small business owners plan their cash flows, they usually assume that sales will occur on a regular basis. Managing cash flow peaks and valleys for a new business ‘Buying a Franchise’ relates the advantages and disadvantages of becoming a franchise owner, including such considerations as finding the right franchise, investigating a franchisor, and understanding the risks and limitations of a franchise agreement. Consider pros and cons before buying a franchise ‘Starting a New Business on a Small Budget’ shares insights and lessons learned from a pair of successful entrepreneurs who started their own business on very limited funds. Starting a new business on a small budget ![]()
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