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  • #988199
    trent_radpants
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    Hi everyone, my name is Trent and I’m just about to make the jump from employee to self employed. I found myself with an opportunity to bring my work life closer to home (no longer a 1.5 hour train away) AND its doing something that I have a real passion for, Snowboarding.
    Im fast approaching the stage of asking the banks for some money (already had an initial consultation to see what they want to know) to open up a year round, non weather dependent, indoor snowboard/ski indoor dry slope feature park. That description really rolls off the tongue doesnt it, but for those who are down with the snowboard/ski lingo, its basically an indoor jib park using the latest and best fake snow surface.
    Ill be entering a license agreement with the owner/creator of another park down here in victoria but with the regional competition lock out the agreement gives me, I hope to tap into and entice the large amount of surfer/skater/snowboard/skier peeps down here on victorias surf coast to come to my park for some year round fun and skill advancement before taking themselves up to the much more expensive and short time framed wintery mountains.

    Ive been to see a financial advisor/accountant who had a quick look over the figures i got from the owner of the other park and he said it all looks pretty promising and I might be onto a winner of an idea. One of the major things he said to do was to set up a Company to own and run the park for the main reason of lessening the chance of anyone who happens to injure themselves, even though a waiver will be signed before entry to the park, trying to sue me and taking my assest ie my house (ill definatly have public liability insurance).
    Ive had a look at the pricing to do this and the difference between an account and myself doing it through ASIC or one of those online company starter websites is huge. Now i know this has all been asked before but in my situation, do you think it will be fine for me to do it myself. Im not importing or exporting and ill be the sole employee/director for the immediate future so its not a complicated company setup, and it seems reasonably simple.

    Also Im currently working on my business plan. Ive been to the governments business site and grabbed their plan template but its a whopper and quite confusing when alot it doesnt apply to me as i wont be selling any products and my expenses after the initial build, will only be rent and power, water, internet etc. Anyhow on another thread on here someone asked a similar question about where to get business plan templates and a website link was suggested. I had a quick look at their samples and they look ok but i was wondering if anyone has an experience using them? Its only $20 a month to grab some but id rather not waste that money on it when $20 can get me a few cracking craft beers to end the working week on.

    Thanks in advance you wealths of knowledge, and Im sure to have more questions but I look forward to your replies to these ones first

    Trent

    #1166122
    MissSassy
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    Hi Trent and welcome

    A business plan is only worthwhile if it is created, used and updated on a regular basis. You will find that if you are going to borrow any money from a bank they will require a business plan and a cash flow forecast.
    I would suggest you go to one of the bank sites and download their templates – they are usually very easy. ANZ as an example is great.

    Via my website you can get a one page business plan template which is great for nutting out ideas and checking the feasibility of your ideas.

    The more you do plan the better your chances of success so with your business idea being quite substantial I would recommend that you also speak to a business adviser/mentor/coach too. Utilising a business adviser will help you to check that you are not forgetting anything and staying on track.

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