<$BlogMetaData$>March 17th, 2009
Happy St. Patrick’s Day Everyone. Only 90 days to Sytten Mai.
I am in total awe of the ‘county commissioners.’ Last week at the commissioners meeting they auctioned off the one remaining liquor license for Union County. It went to the only bidder, Sean Brady from Vermillion for $25,000. Now here is where it gets fun. He had to put down a $5,000 certified check as a retainer, which would be returned if he is unsuccessful in the bidding. If he wins the bid that $5,000 goes towards the amount of the bid. The caveat here is the winning bidder must also submit a business plan. (I’m getting ahead of myself here). After he won the bid and was leaving the room he asked who he had to give the check to. Carol said he could just pay at the auditor’s office on his way out. He asked if he could just give them a personal check for the $20,000 or if it had to be a certified check? He was holding up a personal check for the $20,000. The commissioners and the states attorney looked around at each other and shrugged their shoulders, and finally Carol said it has to be a certified check, so he said okay, he would bring one back in the afternoon, and he left. Remember folks, I don’t make this up; I just tell it like it happens.
Do you remember where I said one of the requirements for getting the successful bid was to submit a business plan? Oh, before I list his plan, here is a brief description of what the Small Business Administration says a business plan should contain (taken from the SBA website)
1) Description of the business
Agenda should include an executive summary, supporting documents, and financial projections. Although there is no single formula for developing a business plan, some elements are common to all business plans. They are summarized in the following outline:
Elements of a Business Plan
I. The Business
A. Description of business
D. Operating procedures
F. Business insurance
II. Financial Data
A. Loan applications
B. Capital equipment and supply list
C. Balance sheet
D. Breakeven analysis
E. Pro-forma income projections (profit & loss statements)
F. Three-year summary
G. Detail by month, first year
H. Detail by quarters, second and third years
I. Assumptions upon which projections were based
J. Pro-forma cash flow
III. Supporting Documents
A. Tax returns of principals for last three years Personal financial
statement (all banks have these forms)
B. For franchised businesses, a copy of franchise contract and all
supporting documents provided by the franchisor
C. Copy of proposed lease or purchase agreement for building space
D. Copy of licenses and other legal documents
E. Copy of resumes of all principals
F. Copies of letters of intent from suppliers, etc.
OK, now that we’ve seen what a plan should look like, here is what Mr. Brady submitted. (Remember that we are not a sophisticated business city, just a small country community so keep that in mind.)
Mission: to provide a pleasant and affordable place for travelers, residents of Union County and the surrounding communities to socialize while enjoying a drink and a meal.
Exit 31 Grille will initially offer Midwest Pub style food and beverages in a comfortable environment and allow the local residents to drive the business in the future.
Our customers will always be treated with importance and warmth. When it comes time for our customers to decide where to spend their entertainment dollars, we will strive to become their first destination of choice. Our staff will be cheerful, courteous, and focused on pleasing our customers.
Our staff will be offered a workplace where they can prosper and grow in a dignified, fun and rewarding manner.
Our vendors will be treated with loyalty, and they will find their future with us to be fruitful.
We will be a good neighbor to the businesses in our area, and we will be a contributing and supportive member of our community.
Keys to Success:
1. Our policy of having a manager visit with each and every customer that has a question, or if the customer has positive or negative feedback. The manager is required to use every means possible to satisfy our customers.
2. Our commitment to the success and happiness of our staff.
3. Our commitment to providing excellent quality food and beverages at all times.
This property is currently zoned Commercial and there are no applicable covenants. The proposed square footage is between 3000-5000.
The commissioners should return Mr. Brady’s business plan to him and tell Mr. Brady when he has a REAL business plan to submit he can come back. But then, maybe there are no requirements for a business plan. Come to think of it, the zoning ordinance says they must submit a business plan, but there is no definition of what a business plan is or what it needs to contain. Maybe the commissioners just say ‘aw he’s a good guy that will do.’ Even the states attorney stated at the meeting that the plan is not extensive. Is that an understatement or what?
I just don’t understand what is going on with the government in this county. I’ve only lived here for 22 years so I’m not really up to speed yet. Is this how things have always been? If it is, then things have to change, and THAT is why I’m running for commissioner. I think pretty soon, I’m going to come out with Doug Maurstad’s top ten list on why I want to be a commissioner.