How do i know my financials if i dont know the size of premises yet, if I don’t have one yet because i dont know what size i would need? Size would depend on rental cost and number of kids will depend on size of school premises. Do I just guess ? Im trying to build my business plan to present to investors but how are you suppose to know figures if you dont have premises or kids yet
This is a really great question! The process of creating projections can be somewhat of a circular reference. I think the reality is that you are going to need to do projections for each potential location which might have a different capacity and cost to renovate and get ready for your school. You could always make a guess on the size and cost of a location and run some projections, but I wouldn't hold too much stock in that first set of projections because once you find an actual location, the size, configuration, and construction or renovation costs will almost certainly be different than your original plan and you will need to check again that the numbers can work.
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I have seen your invitation on upwork
How do i know my financials if i dont know the size of premises yet, if I don’t have one yet because i dont know what size i would need? Size would depend on rental cost and number of kids will depend on size of school premises. Do I just guess ? Im trying to build my business plan to present to investors but how are you suppose to know figures if you dont have premises or kids yet
This is a really great question! The process of creating projections can be somewhat of a circular reference. I think the reality is that you are going to need to do projections for each potential location which might have a different capacity and cost to renovate and get ready for your school. You could always make a guess on the size and cost of a location and run some projections, but I wouldn't hold too much stock in that first set of projections because once you find an actual location, the size, configuration, and construction or renovation costs will almost certainly be different than your original plan and you will need to check again that the numbers can work.
Have you started this school yet?