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Watch This Video Before Starting Your Bounce House Business Plan PDF!

Checklist for Starting a Bounce House 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 Bounce House 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 Bounce House Business Plan DOC

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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 Bounce House 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.

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How to Raise Venture Capital Money

Venture capital financing is a method used for raising money, but less popular than borrowing.  Venture capital firms, like banks, supply you with the funds necessary to operate your business, but they do it differently. Banks are creditors; they expect you to repay the borrowed money.  Venture capital firms are owners; they hold stock in the company, adding their invested capital to its equity base.  While banks may concentrate on cash flow, venture capital firms invest for long-term capital.  Commonly, these firms look for their investment to appreciate three to five times in five or seven years.

One way of explaining the different ways in which banks and venture capital firms evaluate a small business seeking funds is: Banks look at its immediate future, but are most heavily influenced by its past;  venture capitalists look to its longer run future.

To be sure, venture capital firms and individuals are interested in many of the same factors that influence bankers in their analysis of loan applications from smaller companies.  All financial people want to know the results and ratios of past operations, the amount and intended use of the needed funds, and the earnings and financial condition of future projections.

But venture capitalists look much more closely at the features of the product and the size of the market than do commercial banks.

What Venture Capital Firms Look For

Banks are creditors. They're interested in the product/market position of the company for assurance that this product or service can provide steady sales and generate sufficient cash flow to repay the loan.  They look at projections to be certain that owners/managers have done their homework.

Venture capital firms are owners.  They hold stock in the company, adding their invested capital to its equity base.  Therefore, they examine existing or planned products or services and the potential markets for them with extreme care.  They invest only in firms they believe can rapidly increase sales and generate substantial profits.  The reason for this is that venture capital firms invest for long-term capital, not for interest income.  A common estimate is that they look for three to five times their investment in five or seven years.

Of course, venture capitalists don't realize capital gains on all their investments.  Certainly they don't make capital gains of 300 to 500% except on a very limited portion of their total investments.  But their intent is to find venture projects with this appreciation potential to make up for investments that aren't successful.

Venture capital is risky due to the difficulty of judging the worth of a business in its early stages.  Therefore, most venture capital firms set rigorous policies for venture proposal size, maturity of the seeking company, management of the seeking company, and "something special" in the plan that is submitted. They also have rigorous evaluation procedures to reduce risks, since their investments are unprotected in the event of failure.

Size of the Venture Proposal.

Most venture capital firms are interested in investment projects requiring an investment of $500,000 to $5,000,000.  Projects requiring under $500,000 are of limited interest because of the high cost of investigation and administration; however, some venture capital firms will consider smaller proposals if the investment is intriguing enough.

The typical venture capital firm receives over 400 proposals a year. Probably 90% of these will be rejected quickly because they don't fit the established geographical, technical or market area policies of the firm - or because they have been poorly prepared.

The remaining 10% are carefully investigated.  These investigations are expensive.  Firms may hire consultants to evaluate the product, particularly when it is the result of innovation or is technologically complex.  The market size and competitive position of the company are analyzed by contacts with present and potential customers, suppliers, and others.  Production costs are reviewed.  The financial condition of the company is confirmed by an auditor.  The legal form and registration of the business are checked. Most importantly, the character and competence of the management are evaluated by the venture capital firm, normally via a thorough background check.

These preliminary investigations may cost a venture firm between $2,000 and $3,000 per company investigated.  They result in perhaps ten to fifteen proposals of interest.  Then, second investigations, more thorough and more expensive than the first, reduce the number of proposals under consideration to only three or four.  Eventually, the firm invests in one or two of these.

Most venture capital firms' investment interest is limited to projects proposed by companies with some operating history, even though they may not yet have shown a profit.  Companies that can expand into a new product line or a new market with additional funds are particularly interesting.  The venture capital firm can provide funds to enable such companies to grow in a spurt rather than gradually as they would on retained earnings.

Companies that are just starting or that have serious financial difficulties may interest some venture capitalists, if the potential for significant gain over the long run can be identified and assessed.  If the venture firm has already extended its portfolio to a large risk concentration, they may be reluctant to invest in these areas because of increased risk of loss.

Although most venture capital firms will not consider a great many proposals from start-up companies, there are a small number of venture firms that will do "start-up" financing.  The small firm that has a well thought-out plan and can demonstrate that its management group has an outstanding record (even if it is with other companies) has a decided edge in acquiring this kind of seed capital.

Most venture capital firms concentrate primarily on the competence and character of the management.  They feel that even mediocre products can be successfully manufactured, promoted, and distributed by an experienced, energetic management group.

They look for a group that is able to work together easily and productively, especially under conditions of stress from temporary reversals and competition problems.  Obviously, analysis of managerial skill is difficult. A partner or senior executive of a venture capital firm normally spends at least a week at the offices of a company being considered, talking with and observing the management to estimate their competence and character.

Venture capital firms usually require that the company under consideration have a complete management group.  Each of the important functional areas ­product design, marketing, production, finance, and control - must be under the direction of a trained, experienced member of the group. Responsibilities must be clearly assigned.  And, in addition to a thorough understanding of the industry, each member of the management team must be firmly committed to the company and its future.

Next in importance to the excellence of the management group, most venture capital firms seek a distinctive element in the strategy or product/market/process position of the company.  This distinctive element may be a new feature of the product or process or a particular skill or technical competence of the management.  But it must exist.  It must provide a competitive advantage.

 

 

Getting the Cash Needed to Starting a New Small Business. Now that You have calculated your first capital requirements, where will
you get the money? The first source is the personal savings. Then relatives, friends, or other individuals may be found who are
willing to"enterprise" their savings in your company. Before getting too big a share of cash from external sources, remember that
you should have personal control of sufficient to guarantee yourself possession.

After you can show that you have closely exercised your fiscal Requirements and can demonstrate experience and ethics, a financing
institution may be willing to finance a part of your working needs. This may be done on a short term basis of from 60 days to up
to one year. Any institution that has money to give is primarily concerned with safety. The safety might be a business advantage,
but when you're just starting the best safety is usually your house or any other private advantage.

The second thing that the lender will want to see is Some Kind of Business plan. If you complete a business strategy - which
includes a cash flow forecast - that the lender will observe you have done some realistic and serious thinking about your company
and be more inclined to consider your request.

Be familiar with your banker. In picking a banker consider Progressiveness, attitude toward your business, credit services
provided, and also the dimensions and management policies of the bank. Is your bank progressive? The physical appearance of this
bank may provide you some indication. When the employees are pretty youthful, considering your problems and active in civic
affairs that the lender is very likely to be progressive. The character of the lender's advertisements might also be a clue for
its progressiveness.

To be effective the banker Ought to Be interested in helping you to Become a better manager, and build a continuing relationship
which will mean profitable business for you as well as the lender through time.

Will the bank give you the type of credit you want? For example, If seasonal accumulations of inventory become a problem will the
bank create a loan against public or field warehouse receipts? If your capital is tied up in accounts receivable during your heavy
selling season, will the lender accept these receivables as collateral for a loan? Will the bank contemplate a term loan?

Finally, know the size and direction policies of the lender. Will Your maximum requirements fall nicely within the lender's"legal
limit"? If you plan to do some export business, does it have a foreign exchange department? If you or your traders sell on
installation terms does the lender have facilities for managing installment paper? How deeply is the bank concerned with the rise
and prosperity of your regional community?

When you handle your banker, then sell yourself. Whether or not you Need a bank loan, also make it a practice to stop by your
banker at least once a year. Openly discuss your strategies and problems. It's the bank's business to not betray a confidence. If
you require financial aid carefully organize, in written form, complete information that will present a comprehensive
understanding of your whole proposal. Many business-people or prospective small business operators destroy their chances of
obtaining financial aid by failing to present their proposal correctly.

Trade creditor or gear manufacturer, Companies from which you Buy equipment or merchandise may also furnish capital to you in the
kind of extended credit. Producers of store fixtures, cash registers, and industrial machines frequently have funding plans under
which you might buy in an installation basis and cover from future income. You need not pay for the merchandise simultaneously. If
products are for resale, no security other than repossession rights of these unsold goods is involved. But too extended a use of
credit can prove expensive. Usually cash discounts are quoted when a bill is paid within 10, 30, or 60 days. By way of example, a
term of sale offered because"2-10; net 30 days" signifies that a cash discount of two percent will be granted if the bill is paid
within 10 days. If not paid in 10 days, the whole amount is due in 30 days. If you do not take advantage of the money discount,
you're paying 2 percent to use money for 20 days, or 36 percent per year. This is high interest. Avoid it.

One of the main causes of failures among companies is Inadequate financing. Should you go into company, remember it is your
obligation to provide, or obtain from others, adequate money to supply a firm foundation for your business.

Sharing Ownership With Other People. Now that you have determined what Company to begin and how much funds will be required, you
might find it necessary to connect with one or more associates to launch the enterprise.

If you lack specific management or technical skills which are of Major importance to your chosen business a spouse with these
skills may prove a most satisfactory means to pay the deficiency. If you are extremely skilled in your special area but lack
management training and skills, you might look for a partner with a background in direction. If you may want more startup money,
sharing the ownership of this company is one way to obtain it. Fantastic care ought to be taken in deciding upon a partner.
Personality and character, as well as ability to render financial or technical aid, influence the success of a pa333ship.

A partnership can be a mixed blessing. A partner who puts in time Or cash has a right to expect a share in conducting the
business.

In a venture the liability for the debts of the firm is Unlimited, as it's in one proprietorship. Therefore, the owners are
Personally accountable for the company's debts, even in excess of the sum they Have spent in the business. In a corporation the
accountability of the proprietor is Limited To the amount they pay for their shares of stock. A partnership, like a single
proprietorship, lacks continuity. This means the business terminates upon the Death of the proprietor or a partner, or on the
withdrawal of a spouse.


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