Alex
Member
Registered: 9th Feb 03
Location: Nottingham
User status: Offline
|
does any1 do any business accounting work?
for my IT course we are pretending to set up a business and we have to do a financial plan, we have been told we can make up figures and stuff as long as they are roughly about what they would be.
based on 5 people working doing IT support for people how much do you think i should put down for the 1st 6 months per month that would show an increase that could be believed? we are talking here as though the business didnt just flop and there was some interest. so basicly i need 6 increasing believable figures 
any help is good thanking you 
|
Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
|
well is this supposed 2 be a start up business?
|
Alex
Member
Registered: 9th Feb 03
Location: Nottingham
User status: Offline
|
yep! we have been told we will get a 20k loan from the bank to start up, but we just need a predicted income from work/sales, but we dont know how fast business should pick up!
|
Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
|
Why don't you find out how much is it to rent somewhere, pick a monthly wage, then decide on a profit margin and work out how much work you need to do, then split the 20k in half, kit the shop out with one half and spend the rest on stock to do the jobs.
Not difficult if you know what your outgoings are.
Edit, or take £5k and put it away to cover first months salary if the jobs don't pay for a bit.
[Edited on 04-01-2005 by Ian]
|
Alex
Member
Registered: 9th Feb 03
Location: Nottingham
User status: Offline
|
yeah i have all the rent, salary and wage outgoings, i just dont know what an industry average increase kinda thing would be an incoming for the 1st few months, say we predicted £1000 for the 1st month, how much increase could we expect for the 2nd month etc
|
Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
|
I was gonna head down the profit margin route also... look at overheads, costs in area + start up costs
|
Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
|
quote:
Originally posted by Alex
yeah i have all the rent, salary and wage outgoings, i just dont know what an industry average increase kinda thing would be an incoming for the 1st few months, say we predicted £1000 for the 1st month, how much increase could we expect for the 2nd month etc
Depends really... If you spent a grat deal on marketing and advertising u cud increase early sales, offer start up promos... etc OR go by word of mouth... less sales but also less costs
|
Alex
Member
Registered: 9th Feb 03
Location: Nottingham
User status: Offline
|
we are doing adverts for the 1st 3 months to start with, so if i put down £500 for 1st month, £900 2nd month, £1300 3rd month type increase, is that feasable?
|
Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
|
Yeah... hard to put a mark on it to be fair because there are far too many implicating factors to look at
|
Alex
Member
Registered: 9th Feb 03
Location: Nottingham
User status: Offline
|
yeah i know  i just didnt know at all what could be seen as acceptable or believable! thanks for help though 
|
