Sunday, July 6, 2008

Week in Rock

I went 2.5 for 3 on my goals last week:

-Spent some time researching restaurant feasibility studies. They typically cost $500-$4500 and are meant to answer the question "can a restaurant of concept X and size Y survive at ABC Blablabla St?" We're not there yet.
-Scheduled an appointment with an accountant to review my projection methods and results, as well as answer a few specific questions.
-Left a voicemail early last week with the real estate agent in charge of a vacant bar we want to walk through, but he didn't call back. I missed the net on being persistent.

I get a little extra credit for last week, though:

-I read about half of the WI statutes on LLCs. I'll probably be the only non-attorney to ever read them all, including the people who wrote them.
-I added a lot of detail to my 5-year income projections by entering our milestone goals into my crude accounting spreadsheet. Doing so allowed me to make 5-year predictions of balance and cash flow.

Here's what I need to do this week:

-Read the operating agreement that our lawer prepared for us.
-Finish reading the WI LLC statutes and compare them with the operating agreement.
-Meet with the accountant and adjust my approach accordingly.
-Follow through with the real estate agent.
-Write some of the actual business plan! Jane is off to a good start, but the plan needs more geeky numbers. That's what I'm here for.


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