This is the Mysterious Financial Professional – not to be confused with our accountant – who’s been helping us put together the business plan for Journeyman. The MFP works for a financial institution which frowns on him using his skills for good in an extracurricular setting – perhaps one day we’ll be able to reveal his secret identity, but until then, he will just have to remain the stranger in the grey hoodie, rescuing small businesses from financial wrack and ruin.
Startup financing tends to be fascinating in a slow-motion-train-wreck sort of way, so we’re very glad to have the MFP to boost us up the learning curve, especially given how much we’re putting at risk. He tells us that this is the first time he’s ever had to calculate cashflow on a week by week basis, which makes the restaurant business seem… perhaps a little hand-to-mouth?
We’re getting into the time when financial rubber starts meeting road. Quotes are starting to come in from contractors, so we’re beginning to get a firm idea of how much startup/buildout will cost (the number is small by restaurant standards, but still heartstoppingly high relative to our budget). We’re also starting to get into the nitty gritty of how we stay afloat – but more on that next time.