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Old December 27th, 2009, 03:04 PM
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Join Date: Dec 2009
Location: Williamsburg, VA
Posts: 26
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Default Re: Opening up a Lounge

Originally Posted by Mkultra99 View Post
One thing that is not mentioned in your startup costs are your living expenses. If you plan on this being a full time job for yourself (and anyone else) you will have to build in your personal living expenses into your plan. Some business models call for 6 months to 1 year of personal living expenses to be set aside, so that all profits actually generated by the business are put back into it. Some plans also set aside operating costs for 6 months or more.

We have accounted for as if we were living off of profits. However, this business will be run as like a family. Our profits are what is left over after rent and re-suply, we are both Military Guard so we earn benefits on the side, such as school full-time and so on. Thank you for bringing it up though!
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