A Plan in Place
Well, the business plan is finally finished, minus a final review by my mentor Karen. It is 22 pages right now, before adding the appendices, plus an 11-tab spreadsheet of financial calculations to support the data. Whew ~ that was a task!
“A man who does not plan long ahead will find trouble at his door.” ~Confucius
I have financial projections for the first three years, broken down by both months and annually including cash flow statements, balance sheet projections, profit-and-loss statements, and even my personal net worth calculation. I discovered we will be profitable by month 5, and our break-even point is 13 residents. Those figures include a 10% contingency in the budget and account for annual salary increases for staff. All good news and important information to share with the lenders when I request funding. Who knew this nurse could manage all those financial calculations and documents?
“Out of your vulnerabilities will come your strength.” ~Sigmund Freud
Speaking of lenders, I had the initial review with Laura at Prestamos and have been cleared to meet with their Business Development Officer (BDO), who is basically their loan officer. Laura sounded impressed with my completed tasks and even commented how my progress is so far advanced, I do not need their mentoring services and we are going straight to the money! That's what I like to hear :)
Not really me working but kinda how I look :)
She provided an email introduction between me and the BDO after the meeting and requested some available times from me later this week or next. I requested next week so I have time to meet with Karen to get the business plan reviewed one final time and make sure it is in tiptop shape. This is exciting!
“Your reputation is in the hands of others. That's what the reputation is. You can't control that. The only thing you can control is your character.” ~Dr. Wayne Dyer
I chatted with my friends at the Pinal County Planning Department again this week to get a little more guidance while I was filling out the Land Use PreApp forms. They are such nice people and seem to be very supportive. Each day there is a different "Planner of the Day" on-call who takes the inquiries. Even though the one I spoke to this week was new to me, he was already aware of the project when I started to tell him who I was and what I was doing. Word is getting out and everyone who hears about it thinks it is a great idea ~ because it is! We should respect those with dementia and give them the best life possible.
So all I am waiting on to submit the Land Use Pre-application form is the maps and documents from the surveyor. I've not heard back from them yet and will reach out this week to follow up on an expected delivery date if I don’t hear anything soon. I have all of the other components complete.
“When the sun is shining I can do anything; no mountain is too high, no trouble too difficult to overcome.” ~Wilma Rudolph
Also this week I met with a solar company and discussed the project with them. I am awaiting their quote but am happy for the delay as no news is good news… During our initial meeting, they gave me a rough estimate for just the small buildings and I got a chance to practice my poker face skills - $35k per each of those seven small buildings!! That is well over what I was expecting so my hope is he is finding a way to bring that price down. Fingers crossed for good news there.
I touched base with a buddy of mine from Wisconsin, Tom. He is venturing out with his own business doing technical drawing for construction and solar projects. Tom graciously agreed to help me out and look over my project so I may be able to use his services. When I trust, it is amazing how the universe delivers just what I need, when I need.
On that note, I'm off for another week. I wish you a prosperous and peaceful one!
