Category Archives: Business planning

How to write a business plan & open an ice cream parlor or frozen yogurt or gelato shop

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In this video tutorial I explain how to write a business plan for a frozen yogurt shop, or an ice cream parlor, and then how to eventually start and open your ice cream shop or a frozen yogurt parlor.

Here is my Amazon author page with the 6 books I wrote and check out my full fundraising course online. Here are all business and marketing courses.

This is a very seasonal business, and one that depends highly on the kind of people (demographics) live in your area. You will get quite a bit of customers as a result of people walking by your store if there is a lot of foot traffic in the specific area where you open your ice cream shop. But that foot traffic may dry up during late Fall season until Spring depending on the climate of wherever you are trying to open your business.

When you start this kind of a business, it can be ideal and cost effective to take over an existing gelato shop or a frozen yogurt place. If you do that, it will save you money on a big part of the remodeling, especially the kitchen and various appliances.

You should also think about whether you want to have your own concept for the business, or open a branch of an existing franchise. A franchise can help you by providing a recognizable brand, and quite a bit of additional marketing. But your customers may find the feel of it cold and commoditized. If you open an ice cream shop of your own design and concept, its uniqueness will make people feel like you put more of your own heart into the ice cream and other snacks. It will also have more of a chance to become a neighborhood go-to place if if people feel like you are putting more of your own personal touch and care into it.

Keep in mind though, that an ice cream of gelato place isn’t an easy business to start. The costs are high, and the average amount spent per customer isn’t too high. So it is often difficult to become rich from this kind of a business.

More ways to raise money or make money online

50 ways to make money online:

How to become a good entrepreneur:

How to make money on Etsy:

25 ways to make money on Udemy:

Business Psychology

To start and successfully run a business, you must have a strong mindset, be determined to succeed, and never give up. There will be many challenges along the way, and some of those challenges will be psychological. You will have to deal with issues like anxiety, fear, trust and mistrust, learning to let go of things like your ego, and learning to be humble. To prepare you for that experience, here is an article on business psychology.

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What is a balance sheet & how to create a balance sheet in your business plan

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In this video tutorial I explain how to write a balance sheet that would be a part of the financials section of your business plan.

It can be difficult and intimidating to write a balance sheet. There are are three main components of a balance sheet: assets, liabilities, and owner equity.

There are two types of assets your company can have. There are current assets like cash you have or money that is owed to you. Current assets are accounts receivable or stocks you own. Fixed assets are property you might own, supplies you might own, or anything else that the business owns. There are also intangible assets. Intangible assets are things like patents and trademarks that your business owns.

The next major section of a balance sheet is the liabilities section. There are two types of liabilities: current liabilities and fixed liabilities.

Current liabilities are things like accounts payable (money you have to pay to anyone or any company). Fixed liabilities are things like owed pension, mortgages, debt, or bonds that you own.

The way you calculate the equity of your company is by taking your total assets and subtracting the liabilities from that. And this is how you will come up with the owners equity, which is the third major part of a balance sheet.

Learn the steps needed to start a successful project

Here is a video in which I discuss the steps needed to start a new business or a project.

If you are in the planning stages of your particular business or nonprofit, check out this video on how to create a smart business plan with a strong strategy.

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What is pro forma earnings and revenue & how to calculate pro forma earnings

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In this video tutorial I explain what is pro forma earnings and revenue, and how to calculate them.

Many people get confused by the term pro forma. It doesn’t sound like anything familiar, and can be very confusing. Fortunately, it is pretty simple to understand what it is. Pro forma simply refers to the future revenue or earnings that your business will have.

The truly difficult thing isn’t to understand what pro forma means, but to calculate it correctly. There are two general ways to calculate pro forma earnings. If your business is currently operational, and has been that way for a while, you can base future revenue projections on that of past years and current acceleration or deceleration in earnings and revenue. If your business has not started, this calculation is much more tricky because there is no data on which you can base sound projections. If you have no data on which to base future projections, what you can do is research industry norms and trends for a business like the one you are about to open, and base your projections on industry data. This may not be too accurate because your business may not be a common business within your industry. What can help you is to have someone on your team who has extensive experience within your industry. A person who has experience within your industry will tend to have a keen sense for what is unique for your business, and how that may make your company’s pro forma earnings and revenue projections different than the industry average.

Learn to plan and start a business

Here is a video in which I discuss the steps needed to start a new business or a project.

If you are in the planning stages of your particular business or nonprofit, check out this video on how to create a smart business plan with a strong strategy.

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How to write a business plan for a deli & how to open a deli or corner store or sandwich shop

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Check out my full course on how to write a business plan (discount included).

In this video tutorial I explain how to write a business plan and eventually open a corner store, deli or a local sandwich shop. I group these slightly different businesses together because often they have overlapping components of one another.

This is a fascinating business to plan because depending on a specific block or street that this business is on, the dynamics of this business can be very different. For example, if your deli or corner store is located in an affluent area, you will be able to sell high end products and some groceries. Groceries, and organic foods have a higher profit margin than low end items do. Stores located in poor areas tend to sell less organic, natural or healthy products. Instead, they sell more alcohol and cigarettes. In United States, it is nearly impossible to make a good profit from selling low end alcohol and cigarettes. The cigarette price is mostly bloated from tax which goes to the government. And low end liquor or beer tends to also have a very low profit margin.

Another interesting nuance of starting a deli or a corner store is the calculation of the target market. Your target market will be people who live in an area within a certain radius. The trick is that the radius will be different in every direction.

If you have a competing deli, sandwich shop or a convenience store in any direction from your business, the radius of your target market is cut down by the radius of the competing convenience store. While your total potential will be the same, the competing store will cut down your market share in the areas within which you will compete. So you must open your deli or convenience store in an area where there are not many competing businesses that are similar to yours.

Learn to write a business plan

Here is a tutorial that will teach you some of the essentials of correctly planning your business.

Here is a video on how to start your business. It gives a step by step process that you can follow once you have planned your business.

Here is my book on how to go from business ideas to starting a business. It was based on research of 300,000 entrepreneurs.

Business And Entrepreneurship Psychology

To start and successfully run a business, you must have a strong mindset, be determined to succeed, and never give up. There will be many challenges along the way, and some of those challenges will be psychological. You will have to deal with issues like anxiety, fear, trust and mistrust, learning to let go of things like your ego, and learning to be humble. To prepare you for that experience, here is an article on business psychology.

And here is a tutorial on how to become a good and successful entrepreneur.

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How to write a business plan for a hair or beauty salon & how to open a hair salon

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In this video tutorial I talk about how to write a business plan for a hair or beauty salon. After writing the business plan, I explain how to actually start this business, and open the hair and beauty salon of your dreams.

Of course, before I get into people’s dreams of owning a business and things like that, we should get serious and focus on fundamental things that will be needed for this business. There are a few things that you will need to outline when you write the business plan for this business. You can’t get around the question of how you will come up with the money to open your beauty salon, and how much money it will actually require. Raising money is something that is truly challenging to entrepreneurs.

To understand how much money you need to start this business, in your business plan you should have a section with something called the cash flow statement. The cash flow statement will help you list all your expenses and sum them up. That way you will know how much money you will eventually need. Once you figure out how much funding you will need, and hopefully eventually raise that money, it will be time to start that business.

Well, not that fast. You will also need to find an ideal location, and begin looking into hiring staff. You should also consider whether this is the kind of business you want to run long-term because once you start this business, it isn’t easy to turn back. Let’s assume that you are not going to want to turn back, and move forward in this article.

To open a beauty or hair salon, you will need to find out what the proper licenses and permits are in your city and state to open this business. To find out which permits and licenses you need to open a salon, call your Secretary of State office for your state and your local city’s city hall. They will tell you exactly which licenses you need. You should then look into the kind of entity type your company should be. It can be an LLC, and S corp, a C corp or other kinds of entity types. To figure out what entity type will best fit your unique situation, you can get advice from a lawyer or an accountant who works with businesses.

Learn about general business planning and starting a business

Here is a video on how to write a good business plan in general.

Here is a video that shows you step by step how to start a business.

And here is my book on how to go from business ideas to starting a business on Amazon. And here is a blog post with a video about that same book so you can learn more about it.

Lastly, here is my video based course on how to go from business ideas to starting a business (this link includes a very big discount to make it very affordable).

Business And Entrepreneurship Psychology

To start and successfully run a business, you must have a strong mindset, be determined to succeed, and never give up. There will be many challenges along the way, and some of those challenges will be psychological. You will have to deal with issues like anxiety, fear, trust and mistrust, learning to let go of things like your ego, and learning to be humble. To prepare you for that experience, here is an article on business psychology.

And here is a tutorial on how to become a good and successful entrepreneur.

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How to write a business plan for a hardware store & how to open a hardware store

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In this video tutorial I explain how to write a business plan for a hardware store, and then how to actually open your hardware store.

Many people think that the hardware business is dominated by Home Depot. And while it is true that Home Depot dominates the hardware markets in many locations, there are many locations in which here isn’t a nearby Home Depot store, and that is a perfect location to consider opening your own store location. When you consider a location for where to open your store, what you should also think about is how many residential homes are in the area, what the needs of those residential homes are, and the overall construction and home improvements projects that will be ongoing in that area. For example, in addition to small construction projects, you will have regular home maintenance by various local businesses, and you should have the tools and materials that they will typically need so that they don’t have to travel far out of your immediate area to buy those materials and tools. Additionally, hardware stores typically have things for the DIY home improvement and home project markets as well.

Let’s discuss how to write a business plan for a hardware store. Usually the main challenge for such a business is to come up with the funds to get started. You need employees, some remodeling, to sign a lease, and to buy hardware inventory. It is also challenging to know exactly which hardware inventory will be most in demand. This is something which you need great advisors for. The last thing you want to have happen is to get a lot of inventory of hardware products that no one buys.

When you get ready to open a hardware store, you must also get the proper licenses and permits that are required by your city and state. You can call your city hall or secretary of state office to find out which permits and licenses are required to open your hardware store. Good luck!

Learn about general business planning and starting a business

Here is a video on how to write a good business plan in general.

Here is a video that shows you step by step how to start a business.

And here is my book on how to go from business ideas to starting a business on Amazon. And here is a blog post with a video about that same book so you can learn more about it.

Lastly, here is my video based course on how to go from business ideas to starting a business (this link includes a very big discount to make it very affordable).

Business And Entrepreneurship Psychology

To start and successfully run a business, you must have a strong mindset, be determined to succeed, and never give up. There will be many challenges along the way, and some of those challenges will be psychological. You will have to deal with issues like anxiety, fear, trust and mistrust, learning to let go of things like your ego, and learning to be humble. To prepare you for that experience, here is an article on business psychology.

And here is a tutorial on how to become a good and successful entrepreneur.

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How to write a business plan and open a car wash

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In this video tutorial I talk about how to write a business plan for a car wash. Once you have a business plan and a strong strategy, I talk about how to actually start this business and open a car wash.

The first things you need to consider when you write a business plan for a car wash is how you will raise the money to start this business, and what might be the ideal location for this kind of a business. You should also consider what kind of a car wash you will have. You can open a self service car wash, a full service one, and a drive through conveyer belt style car wash. The most lucrative kind of a car wash is usually the self service one followed by a conveyer belt kind of a car wash. Choosing the location is also difficult. Car washes need to be where there is quite a bit of car traffic, and those locations within cities tend to be expensive because any businesses near highly trafficked streets get quite a bit of marketing via that traffic making the real estate expensive. That means that there might be stiff competition to get the best locations.

Once you raise the money for this business, choose a location, and begin the process of opening your car wash, you will need to get many licenses and permits from your city, state and possibly your county. To find out which licenses and permits you need, you can either hire a lawyer or call your city hall, county office, or the secretary of state office for your particular state within United States. When you call them, they will tell you exactly what kind of licenses and permits you will need for your business. You will also need to register your business as an LLC or an S corp or a C corp or another kind of business entity. It is best to consult with an attorney before deciding on which type of business entity is ideal for your unique situation.

Learn about general business planning and starting a business

Here is a video on how to write a good business plan in general.

Here is a video that shows you step by step how to start a business.

And here is my book on how to go from business ideas to starting a business on Amazon. And here is a blog post with a video about that same book so you can learn more about it.

Lastly, here is my video based course on how to go from business ideas to starting a business (this link includes a very big discount to make it very affordable).

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How to write a business plan for a gas station & How to open a gas station

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In this video tutorial I explain how to write a business plan for a gas station, and then how to eventually open a gas station.

First, let’s focus on how to write a business plan for a this business. The main challenges with this kind of business are the costs to get started, finding where to buy gas, ongoing price competition, and possibly most importantly identifying a location which has a high amount of car traffic, but low enough competition from other nearby gas stations.

If you write a business plan for a gas station in order to give it to potential investors, you should certainly explain what the financial opportunity is, and outline how you will be able to carve out a niche in the existing market which is undoubtedly quite competitive. This is really the issue with gas stations. There is severe price competition, and even a 2 cent difference in price per gallon will cause a relatively large rise or decrease in sales.

As I noted in the video, the kinds of gas stations that do better are ones that position themselves to be more than just gas stations, but rather destination. If they offer some basic groceries and a bathroom, more people will stop at the gas station. The same is true for offering basic mechanic services or oil changes.

Good luck with writing a business plan and eventually opening your gas station. I hope it becomes a great success for you.

Learn about general business planning and starting a business

Here is a video on how to write a good business plan in general.

Here is a video that shows you step by step how to start a business.

And here is my book on how to go from business ideas to starting a business on Amazon. And here is a blog post with a video about that same book so you can learn more about it.

Lastly, here is my video based course on how to go from business ideas to starting a business (this link includes a very big discount to make it very affordable).

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How to write a business plan for a bar & how to open a bar

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In this video tutorial I explain how to write a business plan for a bar, and then how to open the bar that you dream about opening. Many people dream of opening a bar, but it is a difficult business because it requires quite a bit of capital, years of hard work on it, many licenses and permits, and much more. Long story short, it is very difficult to open a successful bar. In this video I explain the difficult and necessary steps.

The first thing you need to do when you write a business plan for a bar is to create a cash flow statement. The cash flow statement for your bar will help you keep track of the expenses you will incur as you open the bar. Many people don’t realize this, but it can take up to a year to open a bar because you need so many licenses and permits, and are dependent on how your local city gives out liquor licenses and things like that.  In some areas it is much more challenging to get a liquor license than others.

Once you understand how much money and time will be needed to open a bar, you should consider whether this is something that you want to do long term. It takes many years to create a successful bar. Do you really want to be doing this for that long?

As you work towards obtaining everything you need to open your bar, one of the things you will come up against the most is raising the money needed to start this business. It can be a very expensive kind of a business to start. Will you get a loan, dip into your savings, or find investors? That is something you need to solve early on, or there isn’t much use in doing most other things because without enough money the dream of opening a bar won’t come to fruition.

Another thing to consider when opening a bar is the concept behind the bar. Will there be a unique angle to the bar? Will it be all about sports? Will it be a neighborhood community type of place? Will it drawn an educated and artsy crowd? All these have different costs associated with them due to equipment and remodeling that is necessary.

 

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