Business Plan Risk Section

I have a fantastic idea for a nightclub business but no capital of my own. Can I expect to still get a loan?

I’m near the completion of a very detailed business plan asking for 2 million in startup capital, yet I have no money of my own to put into this, nor have I ever managed a nightclub. I’m hoping to go to the SBA to secure a loan but what should I expect? As I’m sitting here with nearly 35 pages that I’ve carefully written and researched, I’m beginning to second guess myself wondering am I wasting my time. What drives me to do this is the vision I have for the nightclub which is really unique and is not being done anywhere else, and moreover, I have solid plans on how to draw and maintain customers. I even have a section identifying all of the risks and what my risk treatment and response plans are. I mean, I’ve put in alot of work in this, which I’m sure will be a success, but will I have doors shut on me solely because I don’t have my own money and because I’ve never done this before?

A 35 page plan is not substantial for this amount of capitol.
literally if you divide $2 million by 35 pages of text it amounts to $57,000 per page. divide that by the average amount of sentences per page. You are literally asking for $2,000 with each sentence. the reason i say it like this is because the bank wants to know what you will do with every. sent.

Look at it from the lenders point of view
you are high risk because:
-no education.
-no experience.
-no means of repaying upon fault.
-and the fact that your idea is different is actually additive to your risk.

I’m not trying to rain on your parade by any means. I am trying to help

If you are really passionate I would suggest modifying your plan to something smaller with a less general start up capitol. Start off with a small business perhaps rent a property downtown. Don’t get me wrong there is serious money to be made this way. If you are successful in this and at a later date want to go through with your dream idea you may not have to even ask for a loan!

6th Annual Great Valley Business Plan Competition 2008 – GVTA

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