The upscale sober living business plan does not need to be a sensitive matter. The business plan should accomplish two main things: (1) describing the market need for sober living and the way a facility can help, and (2) outlining the benefits that an upscale living environment can have on tenants. Who will you target with an upscale facility? What income bracket will your average client hail from, and what commonalities will they most likely exhibit? Anything you can provide that ties your target market together and helps give a feel for its scope will be helpful for the business plan. Also consider:
• Where will the facility be and what are your renovation or build-out costs?
• Can you itemize your start-up expenses in detail?
• How will you market the facility?
• What staff do you need?
• What amount of funding is the minimum you could launch with and when will you reach break-even?
Your business plan will need a 3-5 year financial pro forma that outlines your anticipated revenues and expenses over those years to estimate the profit you can reach. Use competitive comparables and industry averages to help guide the financial model creation and be sure to double check your assumptions, cash flow, and key metrics. If you want to outsource the financial model, market analysis, or any other part of the business plan, MasterPlans is here to help. Call a consultant to discuss how we can assist you with your project: 877-453-2011.
