In this scenario, I am the bank! You are submitting your business plan prior to our meeting together to convince me to loan you a large sum of money ... $150,000 to start your own spa.

You must complete an official financial plan for your spa. 

Your spa will be located in a plaza. Typical rent is 10% of gross sales on average. Your spa will occupy 2100 square feet and you will be paying $15 per square foot. Your rent for the year is $15 x 2,100 = $31,500 Quick math will give you the amount you need in gross sales.
Rent / Gross Sales = 10/100
Invert the last figure and multiply it by the rent to arrive at
gross sales
Rent x 100/10 = $315,000

Now you can easily calculate other costs, using percentages of gross sales based on the national figures, adjusted to your area and situation. Change the percentage to decimal values, and multiply them by the gross sales ($315,000)

 

Other Expenses
Wages- 40%

Supplies- 5%

Rent- 10%

Cleaning and maintenance- 2.5%

Towels and linen- 1%

Utilities- 5%

Marketing and Promotions- 5%

Depreciation- 10%

Total- 78.5%

Profit- 21.5%

 

Create this financial plan that looks appropriate for this spa also including how many employees you are going to have and how much income will they make including yourself the owner.

Answer rating: 100% (QA)

solution Heres your Spa Business Financial Plan for obtaining a 150000 loan Executive Summary This plan outlines the financial viability of a new spa in a plaza seeking a 150000 loan The spa will offe... View the full answer