Quote:
Originally Posted by Kdabr
Regarding this whole business plan thing, how necessary is this if we already will most likely get our FRC entry fees paid for by JC Penney and if our school throws another 5k at us?
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It's still necessary, if anything moreso because you have money coming in from multiple sources. Figure out an overall operating budget, figure out how much the school and JC Penny cover, and the remainder is what you need to fundraise.
It's very good for making longer term plans; what if JC Penney gives you less money next year? What if the school cuts your funding? Plan for that.
If you have any long term purchases to consider (mills, welding equipment, lathes) you can figure out how much you need to raise in order to afford the equipment in X years.