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Watch This Video Before Starting Your ATM Business Plan PDF!

Checklist for Starting a ATM Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a ATM business. This will allow you to predict problems before they happeen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

For more insightful videos visit our Small Business and Management Skills YouTube Chanel.

Here’s Your Free ATM Business Plan DOC

This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your ATM business.
Click Here! To get your free business plan template

Free Book for You: How to Start a Business from Scratch (PDF)

A Step by Step Guide to Starting a Small Business
This is a practical manual in a PDF format, that will walk you step by step through all the essential phases of starting your ATM business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to Apply.

Copy the following link to your browser and save the file to your PC:

https://www.bizmove.com/free-pdf-download/how-to-start-a-business.pdf

How to Open a Store

Basic Considerations and Requirements

This guide will walk you step by step through all the essential phases of starting a successful retail business. To profit in a retail business, you need to consider the following questions: What business am I in? What goods do I sell? Where is my market? Who will buy? Who is my competition? What is my sales strategy? What merchandising methods will I use? How much money is needed to operate my store? How will I get the work done? What management controls are needed? How can they be carried out? Where can I go for help?

As the owner, you have to answer these questions to draw up your business plan. The pages of this Guide are a combination of text and suggested analysis so that you can organize the information you gather from research to develop your plan, giving you a progression from a common sense starting point to a profitable ending point.

What Is a Business Plan?

The success of your business depends largely upon the decisions you make. A business plan allocates resources and measures the results of your actions, helping you set realistic goals and make logical decisions.

You may be thinking, "Why should I spend my time drawing up a business plan? What's in it for me?" If you've never worked out a plan, you are right in wanting to hear about the possible benefits before you do the work. Remember first that the lack of planning leaves you poorly equipped to anticipate future decisions and actions you must make or take to run your business successfully. A business plan Gives you a path to follow. A plan with goals and action steps allows you to guide your business through turbulent often unforeseen economic conditions.

A plan shows your banker the condition and direction of your business so that your business can be more favorably considered for a loan because of the banker's insight into your situation.

A plan can tell your sales personnel, suppliers, and others about your operations and goals.

A plan can help you develop as a manager. It can give you practice in thinking and figuring out problems about competitive conditions, promotional opportunities and situations that are good or bad for your business. Such practice over a period of time can help increase an owner-manager's ability to make judgments.

A second plan tells you what to do and how to do it to achieve the goals you have set for your business.

What Business Am I In?

In making your business plan, the first question to consider is: What business am I really in? At first reading, this question may seem silly. "If there is one thing I know," you say to yourself, "it is what business I'm in." Hold on and think. Some owner-managers have gone broke and others have wasted their savings because they did not define their businesses in detail. Actually they were confused about what business they were in.

Look at an example. Mr. Jet maintained a dock and sold and rented boats. He thought he was in the marina business. But when he got into trouble and asked for outside help, he learned that he was not necessarily in the marina business. He was in several businesses. He was in the restaurant business with a dockside cafe, serving meals to boating parties. He was in the real estate business, buying and selling lots. He was in boat repair business, buying parts and hiring a mechanic as demand rose. Mr. Jet was trying to be too many things and couldn't decide which venture to put money into and how much return to expect. What slim resources he had were fragmented.

Before he could make a profit on his sales and a return on his investment, Mr. Jet had to decide what business he really was in and concentrate on it. After much study, he realized that he should stick to the marina format, buying, selling, and servicing boats.

Decide what business you are in and write it down - define your business.
To help you decide, think of answers to questions like: What do you buy? What do you sell? Which of your lines of goods yields the greatest profit? What do people ask you for? What is it that you are trying to do better or more of or differently from your competitors? Write it down in detail.

Planning Your Marketing

When you have decided what business you are in, you are ready to consider another important part of you business plan. Marketing. Successful marketing starts with the owner-manager. You have to know the merchandise you sell and the wishes and wants of your customers you can appeal to. The objective is to move the stock off the shelves and display racks at the right price and bring in sales dollars.

The text and suggested working papers that follow are designed to help you work out a marketing plan for your store.

Determining the Sales Potential

In retail business, your sales potential depends on location. Like a tree, a store has to draw its nourishment from the area around it. The following questions should help you work through the problem of selecting a profitable location.

In what part of the city or town will you locate?

In the downtown business section?

In the area right next to the downtown business area?

In a residential section of the town?

On the highway outside of town?

In the suburbs?

In a suburban shopping center?

On a worksheet, write where you plan to locate and give your reasons why you chose that particular location.

Now consider these questions that will help you narrow down a place in your location area.

What is the competition in the area you have picked?

How many of the stores look prosperous?

How many look as though they are barely getting by?

How many similar stores went out of business in this area last year?

How many new stores opened up in the last year?

What price line does competition carry?

Which store or stores in the area will be your biggest competitors?

 

 

Say that you're the sort who is starting new small business. You Have given focus to the overall opportunities for success, and
have chosen the new company you wish to establish.

What practical issues will you face in establishing the business? How Much cash will you need for beginning new small business?
Where can you get it? What form of business organization will you have? Where should you find the business? (start business tips
to follow along )

The first question you need to answer is: How much money will I need? However, this question can not be answered until several
other questions are answered and several decisions are made.

To decide how much cash is needed to start a business, enter all Of your potential income and all of your planned expenses onto a
work sheet or form.

Even though you may feel that this kind of planning is more than You have to initiate a simple small business it is useful to get
started with this particular approach to management which puts down figures in black and white. You'll find exactly the exact same
approach valuable within an established small business.

First, estimate your sales quantity. This will depend on the overall Quantity of business in the region, the number and skill of
opponents now sharing that business, and your own capability to compete for the customer's dollar. Obtain assistance in making
your sales estimate from wholesalers, trade associations, your banker, along with other business-people. A number of company and
statistical books may be useful in making sales volume quotes.

In reaching your final quote of sales do not be over-enthusiastic. A new business generally grows slowly at the beginning. Should
you overestimate sales you're likely to spend too much in gear and first inventory, and commit to heavier operating expenses than
your real sales volume will justify. As you're just beginning you might have no sales for the first few months. At any rate you
can expect your first few weeks to be quite low.

You must also determine what percentage of your sales will be cash And what proportion will be sold on credit. If you estimate
that a certain portion of the earnings will be on charge then you have to figure when you are likely to get the money for these
sales. One month? Two months? More? Never?

In our guide to beginning new small business, estimate how Much cash will be paid out. Bear in mind that in starting a company you
might be purchasing equipment, paying fees and licenses, which makes deposits on rent, utilities and so forth, several months
before you open the doorway. Some of those expenses are easy to estimate. In case you've decided to rent a building (more about
this later) then you understand what your deposits will be and just how much you'll need to pay out monthly. You can probably get
the expense of fees, licenses and utility deposits with a couple of telephone calls.

Other cost figures may take a little more work to get. 1 way Is to acquire typical operating ratios for the type of company in
which you are interested. Among the resources for such ratios are Dun & Bradstreet, Inc., trade associations, publishers of trade
magazines, technical accounting companies, industrial companies, and schools and universities. The typical ratios for your type of
business multiplied by your estimated sales volume will serve as bench marks for estimating the several items of expense. However,
do not rely exclusively on this method for estimating each cost item. Verify and change these estimates through investigation and
quotes in the particular market place in which you intend to operate.

Do not forget to pay yourself too. You Might Need money to live on if You need to quit your job. If your partner is working and
may support the family for some time you may not need to withdraw cash from the business. The longer you can go without taking
cash out, the quicker you'll develop a solid cash position. Now that you have estimated your money receipts and expenses, write
down the amount of money you will put into the company to start. This goes on line 1 in the example below. Next, add lines 2 and 1
for the first month to find line 3. Then add up all the expenses to find line 5. Subtract line 5 from line 3 to find line 6. This
money at the end of month 1 then goes to line 1 for the start of the next month, etc.

Should you continue this for the Whole year, very soon you will find You have negative amounts or even a negative cash flow. About
this time you will also realize that you should be operating on this kind with a pencil which has a good eraser.

In this overly-simplified case, you see that by the end of June you are minus $200 in cash. Two options can be attempted - reduce
your buys at June by $200 or begin with $200 more. You may be unable to reduce expenses (they will probably go up as your company
starts). That means you'll need to put in $200 more to start with. If all you've got is 4000 then the extra $200 you will need is
funding you must get from someplace else.

Do not be fooled by this very simple illustration. Many small businesses Start with the 200, and try to acquire the $4000 from
someplace else. Since a Major reason for failure in the first stages of a business is Under-capitalization, be very careful in
your preparation at this point. You can Almost always aim on some unexpected expenses and a few delays in anticipated income.

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