02 May Need these things corrected please
Need these things corrected please
1. Legal Structure: So are you an LLC? S CORP? Where are you governed? Texas?
2. Org Structure: – How are divided? Be more specific. Does one own FInancials, the other Delivery? Etc. Explain the division of Labor PRIOR to the Mgt. Team section.
3. LIST ORG Structure, with Chart and THEN combine the KEY BIO and MANAGEMENT TEAM sections together.
FINANCES:
BALANCE SHEET: LOOKS GOOD!
INCOME: 84,000 of Allowances is A LOT of bad inventory and returns. Should be less than 5% if you are running a good business
Advertising is REALLY SMALL compared to what it needs to be, especially to START a new business. Know that for every $ you spend in advertising, more sales should come in.
You show NOW INTEREST on LOANS? You will need to include that. Also, $16,000 in wages? TOTAL? for the year? Are you contracting most of your labor? That seems out of balance.
Your Projected Cashflow sheet cuts off at Month 6. Need to submit original EXCEL doc for that probably. I like the RAMPED sales, but what about your SEASONALITY? I’d expect that with your business. Also, change Month 1 to January , etc. across the top.
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