Grant programs usually get hundreds of applications each month for funding. Typically, when the business plans are reviewed funding committee members will look at all of the sections in the business plan. But there are a few that they really focus on in making their final decisions. This is what you really want to concentrate to make sure you are as successful as possible with funding:
Another common question is how to come up with the projections. You want to literally walk backwards. Let’s just say you have a restaurant with 15 seats. You’re open from 3 pm until your last sitting at 11 pm (eight hours). You turn tables, or serve new customers, once every hour. That’s 120 covers in restaurant lingo or customers per day.
If you average $30.00 profit per customer in your restaurant, that means you’re making $3,600 per night. But you won’t be totally booked ever hour of the day, every night of the week, especially when you first open. But at least this gives you a starting point. For more on calculating the financials and other business plan tips, click here.