20 Mar Business Plan Milestone #3 – Draft & Discussion – See Me Hibachi
11547The third milestone of the business plan assignment contains two sections. Specific instructions on how to complete the Excel worksheets are in the first tab of the Excel file. Be sure to watch the video tutorial for Milestone #3 for detailed instructions!
Section 6 – The written summary for this section will be fairly short. It will simply summarize the total startup costs and document your “ask” for funding. The startup budget is contained in the Excel file.
Section 7 – the three financial statements are also contained within the Excel file, and no written summary is required.
There should not be a need to focus on the mechanics of the worksheets if they are completed correctly. Instead, focus on the assumptions:
Sales Forecast Assumptions – do they seem reasonable?
Sales Forecast – is the sales increase over year 1 reasonable?
Startup Budget – are the items in the startup budget reasonable for this type of business?
What else do you notice (favorable or unfavorable) about the sales and profit projections?
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