We met with our banker yesterday and we should have a good idea on financing in the next couple of weeks. We’re hoping the bank is willing to take the risk with us so we don’t have to go out and seek investors. We’re applying for an SBA loan and we used Score.org’s financial spreadsheet template which has proved invaluable. We highly recommend Score.org for individuals looking to start their own business. We’re also glad to announce that our dear friend and financial wizard Donnavan Swaby has decided to join the Second Line team as CFO.
We’ve received our approval from the Louisiana Department of Revenue which is great news and our t-shirts and pint glasses have arrived. We’re going to do a bit of gorilla marketing with them and hand out some t-shirts at Jazz Fest. If you see one of us at the Fest, be sure to ask us for one!
We are hoping to do a walk through next week with our engineer and the Fire Marshall. Once that is complete, we’ll be able to submit our drawings to the TTB and start the process on construction design. The building needs a bit of work but we love the location.
We’ve been waffling on buying a 20 barrel system vs. a 15 barrel system. The guys at JV Northwest have been extremely helpful and they recommend the 20 barrel system. I personally think we should go with their recommendation.
Our business plan continues to be modified. When we started it was around 200 pages and we’ve gotten some great feedback from multiple people on what is important for financing verses our strategy. We’ve been constantly refining the plan and it’s really been a great tool for what we need to do to be successful.
Cheers for now and happy Jazz Fest.
Karen
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