I need help with developing the rudiments of a financial plan. The questions are relative to an etiquette and image consultant, one-owner, corporation type business.
1.Explain the financial requirements for the venture, including the amounts needed for cash flow and profitability.
2.Create a cost of operating report for your venture.
3.Prepare a break-even analysis for your venture.
4.Explain the sources of funding for the venture.
5.Research and cite at least three (3) reputable academic sources.
Please see the attached file for the complete response.
Please find help and some guidelines for a financial plan in the attached file. The content below has been written to get you started on this assignment. This has been written to help you with this particular problem and its use is limited as such. The content of the solution must not therefore be passed on as your own work for grading or commercial purposes. You can also use the listed resources to explore your topic further.
Financial Plan of a Business
An etiquette and image consultant helps people through polishing their professional image. An image consultant is style consultant and communication specialist person, who helps the customers to improve their image and personality through analyzing their wardrobe, career and lifestyle preferences. Etiquette and image consultants in US (Named as ABC) require the development of a financial plan to fulfill the needs of its business.
Financial Requirements for the Venture
An owner faces the financial problem, while establishing a small business. In concern of this, ABC will firstly analyze the capital requirement to establish an etiquette and image consultant business. It requires thinking carefully about the cash outflow needed to establish a venture and different stages where it will require money for expenditures. An owner requires a good understanding of the business and business related expenses to effectively evaluate the requirements of capital for business. During the evaluation of financial requirement for the venture, ABC must address two basic issues that are forecasting the business profits and estimating the amount of assets and financial requirements for the new venture (D'Angelo, 2009). ABC must forecast a new business profit and find a break-even point for new venture because the company's financial requirement depends on its profit.
ABC should need a basic awareness of the factors that drive profit for the company. In this regard, it will evaluate the amount of sales, operating expenses, interest or financial expenses and US government taxes. ABC's net profit depends on these variables:
Amount of sales: As an image consultant, company clients can be individuals (men or women), who want to groom themselves for different purposes and their personal needs. It should charge up to thousand of dollars ...
The expert develops financial plans. The relative etiquette and image consultant, one-owner, and corporation type businesses are examined.