I am in the process of writing a business plan to apply for a business loan (obviously). The problem I am having is the sales projections. I am not open as of yet and obviously I know that I am not going to make a $1 mil dollars. I am not even looking to get rich. I just want my own store and be able to pay the bills for it and my personal bills. However, I do not fully understand HOW to get the projections. I know that I can just throw numbers on a piece of paper and it look good- on paper. But to get realistic numbers, that is difficult. I know that I should research the market "in my area", but there is no market in my area. I am wanting to open a bookstore, the only other bookstore in the tri-county area is a used bookstore. I know why the previous bookstore closed- bad location, poor customer service, and very limited selection. All of these can be remedied. But I am stuck on fake numbers. Can someone please help me? My numbers definitely would not be the same as those of a store in say New York. I need advice.
Have you tried talking to the owner of the used book store? He/she may be able to give you an idea of how their sales are. Then you could base your numbers off of theirs. You could also take a poll of the residents of your targeted market area and see how they feel about having a new bookstore in the area.
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