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Business Plan

  • 06-07-2009 7:52pm
    #1
    Brian76
    Closed Accounts Posts: 1 ✭


    Hi All,
    This is my debut post so first and foremost I'd like to say hello to everybody. and I promise I wont use the big R word that our nation is talking about

    Well as you can see my name is Brian:D
    I'm 32 {I'll milking it here, I'm 33 this month;)}
    And I'm looking into foreign investment with my fiancee

    I'm not the most intellectual of posters so I'm sure there'll be a few typo errors along the way, hey at lease I'm honest

    The property I'm looking to invest in is a bed and breakfast with a small bar and restaurant in Eastern Europe. In order to purchase this dream of mine I'll need a loan off my bank of course. i have savings but am still miles off.

    So in order to request this loan I'll need to draw out a business plan:confused:
    Now if I'm perfectly honest here I have absolutely no idea where to start,
    If anyone in this profession or with any type of knowledge on the subject, or even wants to drop in an idea I would be absolutely grateful if you can help

    Thanks for your time.
    Brian


Comments

  • #2
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    You should find more specific advice here Brian as it's property related.

    Moved from Investments and Markets.

    Ixus


  • #3
    silverharp
    Registered Users, Registered Users 2 Posts: 18,854 ✭✭✭✭silverharp


    it might worth having an informal chat with your bank and ask them what they would expect to see, they might even have samples or a template (just a guess)

    generally what they are going to want are costings and projection for 3 to 5 years. So you will need to know how much the initial capital and fitout costs will be , working captal etc. you will need to demonstrate that you understand the market you are going into , seasonal factors, dead periods etc. One business risk that jumps out is FX , if the loan is in Euros and your investment is in a non Euro currency the bank might see that as a significant risk, you would also need to have some understanding of local tax and other charges.
    The worst mistake to make is not being realistic and "ignoring" costs you dont want to know about. Will you need to pay yourself a salary etc.

    good luck, clearily business conditions are difficult and I wont start with the your mad....... but make sure the sums work out before you commit and that you have some contingency built in in case of delays, overruns etc.

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • #4
    Senna
    Registered Users, Registered Users 2 Posts: 8,800 ✭✭✭Senna


    Enterprise Ireland Business Plan Template

    If you google "XXXXX business plan" with XXX being restaurant, bar and guest house you should get some good ideas.

    If you are planning something like this, would it not be better to lease a current business/premises . Unless i knew the area very very well, thats what i'd do.


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