Complete the following activities to help you prepare for your final Business Plan Project due at the end of the term. Be sure to save a copy of your responses to all BizBuilder Plan Activities each week, so you can easily access them when you are ready to compile them into your final project. (The following parts are a continuation from previous weekly activities and should be incorporated into the appropriate sections of the final Business Plan.)
The business is a candle company named BeaVela Luxury Candles
- 7.0 Financial Analysis & Projections
- After an introductory sentence, describe your record keeping system, including software name and whether it is specific to your industry.
- What types of bank accounts will you need to open for the business?
- 7.1 Sources & Uses of Capital
- How much capital do you need? When? What type and what terms?
- How will you use the money you raised? (Be very specific.)
- List all the items will you need to buy to start the business and get estimated costs of each in a table format. Add up all the costs to determine your start-up costs.
- What is your payback period? How long will it take for you to earn enough profits to pay back the start up capital?
- List and describe your monthly fixed costs. Show your break even calculations.
- 7.2 Cash Flow Projections
- Create a projected Cash Flow Statement, using either the direct or indirect method.
- Calculate the burn rate for your business.
"96% of our customers have reported a 90% and above score. You might want to place an order with us."
