I agree with others on the t-shirt design.
As a business owner, can I offer you some feedback & tips?
- I love that you have put together a document outlining everything. That shows you've thought this through more than "Hey I want to start a gym".
- The most important equation you need to know is:
Income - Expenses = Profit
Keep that in mind for later.
- My first question would be "How much money have you saved to invest in your endeavor?" As a potential investor I would want to see that you are financially invested as well and aren't relying 100% on other investors. It could be support from friends & family, but I would want to see some sort of personal financial interest.
- Some of your projected costs are not direct business costs rather costs covered by the parents: uniforms, shoes, warm-ups, bows, bags, make-up & music. It's great that you have projected those costs, but I would put those items in a separate table. This shows you've thought of the items & cost, but that those will be parent funded. That also reduces your total funds requested by $17,000. I don't see any costs for a choreographer if you plan on hiring it out.
- Why would you need a van? Most gyms don't have a van, but if yours would need one you should be ready to explain why. That could also reduce your funding request by $31,000.
- Same with the $850 camera. Camera phones are really good these days & there are a lot of really good cameras for a lot less than $800 for a startup cheer business. Is that a necessary expense right now?
- Do you have a potential place to rent yet? Is that the $5,000 listed under Place? Have you researched the size of place you would need and the going rental rates for a year? That seems awfully low to me. I would do more research & move some of the requested funds from the van & camera toward the lease costs. Include the cost of leasing a place and utilities for a year in your proposal.
- You need insurance. My guess is the liability for a cheer gym is not cheap.
- What licensing, certification, training costs will you have?
- Every new endeavor has unexpected costs. I would allocate some funds for incidentals & unexpected costs - office supplies, 1st aid kits, etc.
- What are your income projections? You've done a pretty good job of outlining your initial expenses, but how much are you going to charge parents? If you came to me with your proposal I would want to know that you are pricing it so you can cover your expenses. If you had 30 kids what would you need to charge to cover your annual expenses? What if you only had 15 kids?
- What are your plans to keep this running while you finish high school and attend college?
Those are some of the questions I would ask if you walked in my door.
Remember, most new businesses go under within 2 years. The companies that last are the ones that do their homework first, plan well, and account for the unexpected.
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