Hey /biz/, looking for advice here. I own a silversmithing studio and I sell my work mostly online. I've been actively doing this for about a year and half and its time to upgrade..
In hopes of finding an Investor or getting a bank loan, I've been writing up a business plan. I need new tools and money for advertising. Without these, I cant solely work in my studio. I have to work a normal job aswell to supplement income which lags my overall progress.
I've got most of my plan written out already, but I need math to back it up. Do you guys have any advice as to what details, graphs, formulas, or numbers I should be showing to attract investors? What are the must have's in a situation like this?
Here's what I have written up so far.. Thoughts?
http://leafandbadger.com/business-plan/
>>1240906
>leaf and badger
What a hipster name for a business.
This isn't a meme coin or pdufa thread, so 99% of posters here are worthless. Good luck with your expansion, though.
>>1240912
Thanks for the review. I chose the name because it fits my market.
>>1240906
Two years is the usual amount of time for a business to be considered Seasoned. You might be able to finagle a deal still if your numbers are good and signed off on by an accountant.
You already have proof of concept if you're selling.
Usually sales rates? How often are you selling out of inventory? How much is that inventory? And average margin?
How much are you paying yourself? How much would it cost to hire other smiths to replace you en masse?
also whats "organic jewelry" one of a kind and scalable don't really match what most investors are looking for in an equity investment.
That whole customers section needs to be completely reworked. A business plan is a professional document not a blog.
APA needs specific dates.
Remove all mentions of We Us I etc...
A key number would be total investment to date and total revenue to date.
THeres a lot of could do, maybe and kinda fluff. in the document.
Very little, these are our targets and what it will cost to get there, and what do we expect to make when we do.
Remember all your investors/bankers are left brained people they work off of specifics. what where when why and how, & how much
You don't want to leave mathematical assumptions up to the bankers. THey're already cutting everything you say and do in half on principle.
You don't even state how much money you're looking for or what you'd do with the money if you got it.
looking at your "graph"
& extrapolating liberally you've grossed no more than 92k and b/c you're still working to pay your bills that means the business is not profitable at that 6 month revenue. The price of silver being what it is I could subtract half from this revenue easily for materials, price of silversmith 40k
Just at those expenses you're at 2k left over for marketing, accounting, legal, R+D, Management, and profit between the two of you.
Its not a compelling story for a kid who just learned fractions let alone a guy who dedicated his life to the math of money
if you look at the timeline in august to where it says reach $1300 in savings for a new studio. that throws your whole pitch to shit. That's amex charge card tier money. NO investor or banker is going to give you a business class loan for this company. That falls well within the realm of personal responsibility.
Also June pay off expenses with profits, It sounds like you're flat fucking broke. if you need anything less than 100k get a couple credit cards and fucking commit to a 6 month burn and see what you can do.
