I am taking a small business course and a large part of the course is writing a business plan. My plan is going to be for a mobile heavy equipment repair business. I've looked online at samples but haven't found anything for that type of business. Would any of you independent guys be willing to let me look at your business plan? I've got some of my plan roughed out but would like to see how some of you other guys set yours up. :usa
I have had to write a business plan for my lender as well. I have a small and by small I mean I own 3 pieces of equipment and a couple trucks. Writing a plan for this type business is near impossible as nothing never goes as planned. And if so its a rarity. Time frame issues , income issues , accounts payable issues . Right now my biggest problem is drawing my money on jobs. I have 3 decent jobs completed , and going on a month no pay. So that said how can you carry a business plan , as to paying on my accounts , paying ahead on equipment loans , paying myself. It will come , But I think in our type business a business plan covers a year period. In a years time I hope to have x amount pay on equipment , possibly buy a few tools , repairs and so on. One thing , I know your in business and probably realize this well , when people hold my money , I have a break down , you fix it sometimes I have it or have to do a job to get it or the bank to get your pay. Back to what I said , nothing works on a timeline or at least not for me.
Every financial planner I have ever heard or read from said to have a minimum of 8 months of operating capital on startup of a new company to have a reasonable chance to succeed. Working part time and building a company is a different deal altogether.
A business plan is only necessary for a business loan...correct? You don't need one to get a license and open your door do you?
that's right, but if you write a business plan before you start your business, then you should have a better understanding of all the aspects of your business, and you can also look back to see if you've met your original goals.
You don't need plan, but if you don't know where you're going, then how will you know when you're lost?
Speaking only for myself it's not a question of getting lost. My plan is simple. I need to put a machine to work so I can get it paid off, that's it.
There you go. A business plan using valid data will help you decide if what you want to do is feasible.
that's it? you're not looking to have that machine turn a profit? earn you a paycheck? help you save for retirement? expand your business? what about tracking the machines cost or depreciation?
My thoughts as well , you can run the machine 80 hrs a week , but you have to be savvy about book work as well. Bids jobs are good money makers for myself , lots of people won't bid a job they want it hourly. I run my dozer about 30 hrs a week , that's not much compared to mines and quarries but I'm not mining or quarrying. The other 30 hrs I'm on the road bidding work , collecting money , clerical duties , you name it. The operating part is easy. The business end not so enjoyable ( to me anymore). The stronger the economy the easier it is to generate cash flow. Some guys just do that generate cash flow. We also average 3 to 4 septic systems a week. These generate cash flow , as well as cover expenses . You can get upside down in a hurry , I done it. And it took me 8 years to come back. Pure stupidity on my part. I could have been more conservative then and lived better now. It is coming together somewhat now.
yep...that's it my friend.
Unfortunately business is not that simple.
Clearly not...and as we Progreeeeeeeeeeess...it will only get less so.