Well, we are on version 5.0 of the business plan. The deadline is July 20th. To be clear, the versions we've been submitting are going to George Brown. They are not loaning us any money. They are a partner to the CYBF (Canadian Youth Business Foundation - Thank God Davina is young!). The CYBF doesn't accept just any old business plan. It has to go through a partner of theirs to get it all purdy like. Then, when George Brown says it's ready, we submit it to CYBF and proceed getting grilled by a panel of 5 who will get us to defend our conclusions. A bit like a dissertation actually. But getting that CYBF money is the starting point to getting all the rest of the money so it's pretty important. Plus, once George Brown approves the business plan, we will only need to make minor changes to it to submit it everywhere else. As it stands we are approaching the CYBF, the BDC, the CSBFP and Cassa for $$$$. I'm in acronym hell. How are you?
I really can't wait to be finished with this business plan stuff. Not to say that I think running a cafe will be easy, but this type of work is boring. I want to get to the fun stuff!
Speaking of fun stuff we have a meeting today. It is a very important meeting. It is with a woman who owns a building and runs a cafe on the main floor. She wants out of the cafe game and hopefully we will be able to lease the space. We are extremely excited about the possibility of ending our location search. It's a fab place, so wish us luck!
Yup, you read that subject line correctly. We are on version 4.0 of the business plan. It's up to 35 pages including appendices and is quite the read. In fact, if you want to read it, just let me know. I'm sure something can be arranged. A little light 'put you to sleep reading' perhaps? Ya, it's dry. But what can you do? It's a financial/marketing document designed to get people who would not otherwise loan money to a couple of chicks who want to open a cafe, loan money to us.
It's not the fun part. Not by a long shot.
But we are almost through it and then we can start the fun part. What is that fun part you ask? Cooking and feeding hungry moms! And filling them with wonderful, hot nector of the Gods (that would be coffee).
We found a fabulous location. It's perfect. It's practically ready to open. We just need to involve accountants and lawyers and more not fun stuff. So I can't jinx it by saying too much, but it's going to be great!
Also, I went to a coffee expo yesterday. I think I may still be vibrating from the caffeine. I learned about coffee bean, syrups, water quality and leasing. Fun stuff all 'round. That's all for now.
As always I'd love to hear from you about, well, anything you have to contribute!