Man, you guys got slammed in the comments. Thank you for going into your plan and giving a glimpse of what it would take up front. I really appreciate it!
Skateshop is what my country needs rn, as far as i know there are only few shop we have here in ph. So I came up to this idea that what if i try to start this kind of business it would be an easy click in our city but since I'm just a 21 yr old guy who has a dream like this maybe it takes a lot of hard work and yrs to fulfill it but it will happen soon!.
i got a question. if you're.planning to start a shop and want to have supplies first. is it possible? coz most of the distribution dont sell if you dont have a physical store o shop
You guys are approaching this like a bunch of high school students. You need at least 6 months of operational cost up-front. In addition to 6 months of operational cost, you need a healthy marketing budget projected over that initial 6-month grand opening phase. Finally, you need a healthy inventory to carry you over the 6-month period. So here's a basic breakdown: -$1200 all business documents and registrations -$7,500 x 6 months rent paid -$1,200 x 6 months electric and all utilities -$3,500 x 6 months aggressive local marketing campaigns -$25,000 * 6 months wholesale merchandise orders -$3,600 CCTV and security system installation -$15,000 x 6months Employee and workers compensation insurance -$3,500 x 6 months petty cash and overhead expenditures Your initial loan request should be somewhere around $340,000 US dollars. After 6 months of operations, the business should be turning over a profit. The period and duration of repayment should be at least 3 years with monthly payments reduced. Any profits made over the sum of the monthly payment to the bank should go back into the business. Remember, you will need to keep your business afloat after the projected 6-month period; otherwise, you'll go bankrupt very soon thereafter. This means; even if you see profits in your monthly balance of more than $20,000 in excess of liabilities, all that money needs to go back into the business account, so that money can carry your business over the initial 6month phase of opening.
@@EldenSondakh The whole reason behind high school is to prepare you for the adult world. The class project should have been approached from an adult "real world" perspective. So, no I wasn't joking. If I was the teacher grading this assignment, I would be handing out failing grades.
Man, you guys got slammed in the comments. Thank you for going into your plan and giving a glimpse of what it would take up front. I really appreciate it!
That rent! Wooo!
Skateshop is what my country needs rn, as far as i know there are only few shop we have here in ph. So I came up to this idea that what if i try to start this kind of business it would be an easy click in our city but since I'm just a 21 yr old guy who has a dream like this maybe it takes a lot of hard work and yrs to fulfill it but it will happen soon!.
Dude I love this video idk who still runs it but thanks dude
What is the distributor that you use?
Can't take yall serious if you gonna be smiling the whole vid while you talk bro
Straight cheesin!
They love what they do lol, you focusing on the messengers not the message. Get right
i got a question. if you're.planning to start a shop and want to have supplies first. is it possible? coz most of the distribution dont sell if you dont have a physical store o shop
Never heard dropshipper?
Joseph Cagara I have the same problem
@@JaydenThompsonVlogs u actually just need a resale wholesale license. U could get product shipped to ur house
Is that 7k a month or a year?
I'm only 13 but me and my 2 friends wanna make a skate shop when we're older we're still figuring out what to call it
i feel like im listening to an essay. are you reading script while talking?
It was a school project
my dream job, i just wonder if you can do it alone..
What’s the update ?
11 years later, did your shop stand the test of time?
Idk how I'm watching this 9,000 view video a day later than this guy but also how did you get the year that wrong?
@@dylancamp1603 must have heard 09 somewhere in the video or something. The question still stands tho
no haha, because we never made one lolol. this was a high school group project.
@@EldenSondakh a group project with 24k+ views. Well done gentlemen.
I like your choice of music
NEVER START A BUSINESS WITH A LOAN PERIOD!
Too bad agency shut down
@DaAlski78520 why so
So who's git the rich dad? All of em ? Alright 😂
Or maybe they busting their ass off working to bring a dream come true. Ain’t gotta be rich to start a business.
you way over thought this
Its for a school project, most likely required to present all of the information.
Can these kids not talk fluently like shit “I uh uh will get uh uh approved for uh uh loan with 700 credit score uh uh uh” like shit
Rip Agency
Misleading title, this is a high school video project, no wonder it sounded so scripted.
Bro this is cringe lmao
You guys are approaching this like a bunch of high school students. You need at least 6 months of operational cost up-front. In addition to 6 months of operational cost, you need a healthy marketing budget projected over that initial 6-month grand opening phase. Finally, you need a healthy inventory to carry you over the 6-month period.
So here's a basic breakdown:
-$1200 all business documents and registrations
-$7,500 x 6 months rent paid
-$1,200 x 6 months electric and all utilities
-$3,500 x 6 months aggressive local marketing campaigns
-$25,000 * 6 months wholesale merchandise orders
-$3,600 CCTV and security system installation
-$15,000 x 6months Employee and workers compensation insurance
-$3,500 x 6 months petty cash and overhead expenditures
Your initial loan request should be somewhere around $340,000 US dollars. After 6 months of operations, the business should be turning over a profit. The period and duration of repayment should be at least 3 years with monthly payments reduced. Any profits made over the sum of the monthly payment to the bank should go back into the business. Remember, you will need to keep your business afloat after the projected 6-month period; otherwise, you'll go bankrupt very soon thereafter. This means; even if you see profits in your monthly balance of more than $20,000 in excess of liabilities, all that money needs to go back into the business account, so that money can carry your business over the initial 6month phase of opening.
cant tell if you're joking but this was a high school class project
@@EldenSondakh The whole reason behind high school is to prepare you for the adult world. The class project should have been approached from an adult "real world" perspective. So, no I wasn't joking. If I was the teacher grading this assignment, I would be handing out failing grades.