Sample Financial Plan for a Business

Financial Requirements of the Business

Summary of Financial Needs

This organization is seeking a loan to promote an event that will assist in raising funds for diabetes by hosting an event.

A) To create a necessary base for raising funds

B) Hiring staff and purchasing equipment

C) Paying for the Actual Event costs

Dispersal of Loan Funds

This organization will use $100,000 as a loan from Canadian Western Bank to host this event. This will allow us as mentioned up above to get the necessary processes and capital to fund an event of this size.

Start Up Costs

Legal

The necessary permits will need to be completed, in order to establish the organization as a legal entity. As well, we will need to purchase the required federal, municipal, and provincial permits to run an event of this stature.

Insurance

The organization will purchase general business liability insurance for the running of the office, this includes coverage for employees. This is required to prevent any liability from events that may transpire at the office, as well as for precautionary measures for leasing the office space.

Utilities Expenses

The office will require us to pay for utilizes in the office including hydro, water charges, property taxes and other miscellaneous charges that may occur.

Office Space

Office space will be required for the initial 4 months, before the actual event is launched. Choosing a location in an office building that is convenient to be reached by sponsors, employees, and volunteers will assist us in promoting the organization. As well as selecting the right office, it will give a favorable impression to potential sponsors. We will look at renting office space in the Downtown Vancouver corridor near the heart of the Financial District or in areas located near major corporations. Approximately 3600 square feet will be required in order to facilitate meetings, presentations and for a reception area to greet and meet

Payroll

Staff will need to be hired to fill roles in Accounting, Clerical and Management positions. As this event is only a temporary event, we may find that workers are less likely to commit to this project, unless they are offered an above average wage per hour.

Computers & Equipment
Computers will need to be purchased and equipped with the latest operating system and office software. Our workers will require Microsoft Office installed in all of the computers, in order to complete daily office correspondence. All bookkeeping will be done on a daily basis by our Accountants on the software “QuickBooks Pro” from Intuit.

This software will enable our accountants to keep track of the ongoing bookkeeping required for the running of the office. Lastly, participant information will be stored using the software ACT from Contact Software, this will enable the organization to keep track of managing accounts and performing data analysis for the future.

Communication

Staff will be given Blackberries to communicate amongst each other. Business Phone packages will be purchased to enable staff to communicate with volunteers, potential sponsors and other community members. Secondly, we will need to add in other costs related including long distance costs, phone lines for the office.

Ongoing Costs – Event

Website & Online Presence

The organization will hire a professional web designer to create a clear and practical website that enables us to reach for potential sponsors and acts a recruiting tool for volunteers. A website in this age, allows us to showcase this organization and its mandate in a 24/7 manner. The website will be hosted on a server using Go Daddy at a cost of approximately $10 dollars a month.

Advertising

The organization will look at a wide variety of tools to promote this worthy cause, such as using google adwords to derive traffic to the website. Another tool that we will use is Facebook, this website is an example of viral marketing at its best. We would easily be able to create an instant online presence by using its tools to advertise to the general public. We will use also use contemporary advertisers, such as radio placement advertisements on various outlets such as the Beat, and CKNW 980.

Promotional Items

An amount will need to be set up for giving away free promotional items such as balloons, t-shirts, and other related items.

Cleaning Staff Expenses

BC Place does not perform any cleaning for the event, so we will need to hire contractors to clean up the event once it is done.

Event Rental

Hosting the event at BC Place will provide us with a one-stop shop for all of our event needs. We will need to use BC Place as part of the agreement in using their staff for certain items, such as event staffing, including hosting, ticket sellers and security guards and housekeepers.