How To Figure The Financials

Business By itsacake

itsacake Cake Central Cake Decorator Profile
itsacake Posted 14 Apr 2009 , 6:57pm
post #1 of 1

I've been working on a business plan for at least a couple of years. I have crunched numbers, talked to two health departments, set up an LLC, gotten all my licensing and insurance, and for the last few months, am sharing space in a legal kitchen and have done a few cakes/dessert buffets. Getting customers is slow, so I'm thinking I need to do much more marketing, and I have a plan for that, which will be set into motion within the next couple of weeks.

Now I'm looking at leasing my own space. I have a real problem with financial projections. I know what my costs are/will be, but predicting how many orders will happen in a year or two or 5 seems more like writing fairy tales than actually doing something valid. I wasn't too worried about starting without really good financials when sharing space, but quadrupling my rent by having my own space and needing capital for set-up is different. I can say I have to do 4 or 5 $1000.00 wedding cakes a month to make ends meet, and I can mix and match dessert buffets or whatever with that, but no way do I know where they will come from, so it seems bogus.

Does anyone have financials they would be willing to share so I can see how other people in this situation do this? I've read a ton of books, but it seems like voodoo. The rest of the business plan is pretty straight forward, but this is making me crazy!

I don't plan to borrow money to set up business, so I don't need business financials to show anyone (well maybe a landlord if they won't look at personal financial data instead), but it seems like I'd feel a whole lot better if I saw some examples and knew I was on the right track.

Please send me a PM if you'd be willing to share.

Thanks in advance

0 replies

Quote by @%username% on %date%