I have come to the last part of my business plan so I can apply for a mircoloan ($6000). I am stuck on the financial area and unsure how detailed I need to get. Sample business plans aren’t enough help for me as none are similar to what I am selling. I am having difficulties on describing cash/financial info needed to share with the bank/lender. My business will be a same, home-based antique shop from my attached barn, about 300sf. My products will be bought directly from auctions I attend, repricing for profit sales with 50% to 400% mark-up. Can you please assist? Thank you!
It’s unwise to pay too much, but it’s worse to pay too little. When you pay too much, you lose a little money — that is all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot — it can’t be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.”
John Ruskin 1810-1900
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