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I am looking to start a Night Care Center, right now I need help with a Business Plan & Funding.

Veteran

Erick Liggons Chicago, IL

Is it an idea to start at Aldermans office about Zoning?

16 September 2020 1 reply Small Business

Answers

Advisor

Matt Johnson Chicago, IL

Erick,
Before getting down to the tactical level of zoning, there are some big initial questions you must answer to ensure you have a profitable business model.

Start with why people would buy your service rather than the competition?
What is your overall strategy - is it using your geography to drive sales? If so, how will you select a site to capture more customers and drive sales. Also, who will be moving next door? Can that help or disrupt your business?

You will also need to research the market, competitors, and similar business models. Use data to avoid falling in love with your own plan and viewing the opportunity objective. Is the data supporting your business decision must be accurate (or biased), compelling, and sourced? Must be all three.

Finally, what will be your return on investment? Understanding the cash needed and how much you'll burn in operations from (best and worst case) using a bottom-up assessment of operations will help inform your decision. Asking questions of current night care owners is a great place to start.
Funding your business idea may take one of several routes but it's important to get to the initial questions answered first.

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