Make a plan

Financial Planning

 

 

A key component of business planning is financial planning. Get started by thinking through the following:

o Financing your business:

How are you financing your floral design studio? Do you have the funds you’ll need? Or do you need to take out a loan?

If you’re looking for a loan or grant, check out the resources below:

10 Ways to Finance Your Business

Financing Options for Small Businesses

Minority Small Business Loans

Small Business Grants for Women & Minorities

Small Business Loans for Minorities


o Needs vs. Wants:

What do you need in order to start your business? What will your overhead look like?

Do you need business cards or a fancy logo? Or do you want them?

Do you need a studio from day one? Or can you meet potential clients at a coffee shop instead?

Do you need a custom website? Or can you DIY it?


o Goals, Plans, & Forecasting:

You’ll need to set a sales goal, create a spending budget, determine your revenue plan, and project your expected cash flow. To get started, review the articles below:

How to Build a Budget for Your Small Business

How to Write the Financial Section of a Business Plan

Writing The Financial Plan