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profit and loss

by gregmcquarrie, Window Shopper

  • Created: January 31, 2013, 3:22 pm
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2 comments
How do you come up with numbers for a business that doesn't exist. don't know how to project how many people will come each day and how many birthday parties will be booked. how to project how much food and drinks i will use, etc. don't know the size of staff yet. how do you do numbers
Tags: Discuss Popular Topics, Starting & Registering a Business
‹ Partnership or LLC???? assumption of profit and loss ›

BMT | Window Shopper | 2/1/2013 - 4:18 pm

You can also try to get that information from your competitors - especailly
if they are public companies. Other then that, I would suggest that you focus
more on the numbers that you think you can meet - what you can manage the
business to do and then as you go along and learn more - make adjustments
until you get it down pat.
Most successful business owners have experience in the industry they are
opening a business in and thus come into it knowing some of the answers to
the questions you are asking. You might think about getting some experience
first before jumping in on your own.
Also, as stated, your local SBA, SCORE or SBDC offices might be able to help
you research.
Business Money Today - Small Business Loans
Professional Web Site: Small Business Loans

JGabriel | Community Moderator | 2/1/2013 - 10:20 am

Estimate or try looking for industry statistics to estimate what you imagine the profits and costs will be. If you can't come across any, try getting in touch with one of SBA resource partners: SCORE, Small Business Development Centers or Women’s Business Centers. These organizations provide free business counseling and training. To find your nearest SBA resource partner, enter your zip code in our local assistance guide.