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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Business Law
Satisfied Customers: 41220
Experience:  Run my own successful business/contract law practice.
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My husband and I are starting our own business. It is a board

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My husband and I are starting our own business. It is a board game store and library. While stores of this nature are very common, the library is something that is very European. The idea is that when you come to our shop you have the ability to purchase a pass to gain access to our library for the day. The library contains over 400+ board games in a variety of genres.

We are going to need to gain some financing for this endeavor and thus know that we need to include lots of information in our business plan about the financial projections. I currently am working off of a business plan template put out there by SCORE. It includes many excel spreadsheets for different kinds of financial documents: Cash flow, balance sheets, etc.

Here is my conundrum: How do I reasonably estimate how much traffic we are going to receive? I have figures about the number of cars that pass by each day, and I have some limited statistics about board game stores, but no info on euro game libraries.
This is how I would help you estimate your foot-traffic. Figure out what your estimated visitors are to the board-game location (say that would be 100 a day) and logically estimate how many would decide to use the resources--maybe 15% at first, and until the board game option is properly marketed and disseminated, within 6 months get the percentage up to 30%-35% of repeat business. Then add what I term "1 timers"--individuals who are not regular but come in from the hype as an extra 10% of foot traffic a period, and you have a decent working estimate of what your business, at least at first, is going to bring in.


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