chukwuka12:


Pls you take everything into cognisance, salaries, raw materials, fixed costs etc...
It is based on the total amount you are requesting for, not 1st or second trench.. The TOTAL AMOUNT. Besides you can't know how much the 1st grant is until you finally win and sign your legal agreements..

Tnx a bunch.God bless U sir for Ur time.

debeginin:

Shd one take SALARIES into cognisance?
And shd it be based on d first grant or the total grant?If it's d first grant,hw much is d first grant?

In addition to what Chukwuka said, you'd only need to work with 70% of your totally grant of which 40% will be for "CAPITAL COSTS" and the remaining 30% will be for "OPERATIONAL COST"

Please kindly take a look at the image below and tell me if its ok like that, am really taking time to review and review my work over and over again. Thanks

xdream:


In addition to what Chukwuka said, you'd only need to work with 70% of your totally grant of which 40% will be for "CAPITAL COSTS" and the remaining 30% will be for "OPERATIONAL COST"

Tnx Sir.Jst dat I will need more xplanation on dis will a practical approach of one seeking a grant of 10Mil.
Secondly what if I am also putting say 3Mil into d business?

kaysy:
Please kindly take a look at the image below and tell me if its ok like that, am really taking time to review and review my work over and over again. Thanks

Your computation is totally off.

You are asking for N10m so your capital expense should be no more than N4m and operating expense about N5m+ and other cost not more than N1m.

Please review completely, it is clearly stated there that capital expense must not exceed 40%.

@Kaysy its not OK, u completely wrong in your analysis. Blink182 is right. Go tru again and ensure your capital expenditure is not more Dan 40%. You can not use over 70% of your money on any capital expenditure.. It is not viable.

@Debeginin I think u are getting it all wrong, note that its not a must to request for 10m. U trying to work your proposal to reach 10m or more. What I think you should do is ... With an understanding of what business you want to go into, make your estimates based on your idea. See how much it is and den stream line towards d grant. By d way don't promise what you can not deliver.... Do u have 3million to contribute now?

debeginin:

Tnx Sir.Jst dat I will need more xplanation on dis will a practical approach of one seeking a grant of 10Mil.
Secondly what if I am also putting say 3Mil into d business?

Not getting your first question correctly

There's nothing bad if you're putting extra 3M into the biz

chukwuka12:
@Kaysy its not OK, u completely wrong in your analysis. Blink182 is right. Go tru again and ensure your capital expenditure is not more Dan 40%. You can not use over 70% of your money on any capital expenditure.. It is not viable.

@Debeginin I think u are getting it all wrong, note that its not a must to request for 10m. U trying to work your proposal to reach 10m or more. What I think you should do is ... With an understanding of what business you want to go into, make your estimates based on your idea. See how much it is and den stream line towards d grant. By d way don't promise what you can not deliver.... Do u have 3million to contribute now?

blink182:
Your computation is totally off.

You are asking for N10m so your capital expense should be no more than N4m and operating expense about N5m+ and other cost not more than N1m.

Please review completely, it is clearly stated there that capital expense must not exceed 40%.

Thanks guys, actually i did it like that before
Capital Expenses = N2,500,000
Operating Expenses = N7,200,000
Others = N300,000

But i met a former Youwin applicants who scaled through the first stage and he showed me his former printed form before he submitted and his Capital Expenses was above 40% of the money he requested for, though he dnt scale through second round stage due to one Mobilization thing he mentioned about.

Does one need to be graduate before applying for this programe?

papiforreal:
Does one need to be graduate before applying for this programe?

post secondary education covers NCE,tc2 to degree.

kaysy:




Thanks guys, actually i did it like that before
Capital Expenses = N2,500,000
Operating Expenses = N7,200,000
Others = N300,000

But i met a former Youwin applicants who scaled through the first stage and he showed me his former printed form before he submitted and his Capital Expenses was above 40% of the money he requested for, though he dnt scale through second round stage due to one Mobilization thing he mentioned about.

what mobilisation? Please work with people that were able to win and apply your own logic as you work.

kaysy

your being extremely careful and trying to get it all perfect with figures , u seem to be neglecting the main thing that will make you scale through, your business itself : its viability, genuineness , ability to create income , create jobs and add value with your own innovative ideas.

Look deeply into ur business and try to cover the above points, then figures will automatically flow through. CAPITAL EXPENSES CANNOT BE MORE THAN 40%, anywhere you see a comment in bracket pls adhere strictly cos markers dnt have the patience this time.

All the best

awezu:
kaysy

your being extremely careful and trying to get it all perfect with figures , u seem to be neglecting the main thing that will make you scale through, your business itself : its viability, genuineness , ability to create income , create jobs and add value with your own innovative ideas.

Look deeply into ur business and try to cover the above points, then figures will automatically flow through. CAPITAL EXPENSES CANNOT BE MORE THAN 40%, anywhere you see a comment in bracket pls adhere strictly cos markers dnt have the patience this time.

All the best

Thanks, my business is a service business that has no product to sell, nothing to manufacture, all that is needed is to establish the business and proceed with the services. With such kind of business, what and what exactly should i use to deduce my capital expenses. Thanks again

awezu:
kaysy

your being extremely careful and trying to get it all perfect with figures , u seem to be neglecting the main thing that will make you scale through, your business itself : its viability, genuineness , ability to create income , create jobs and add value with your own innovative ideas.

Look deeply into ur business and try to cover the above points, then figures will automatically flow through. CAPITAL EXPENSES CANNOT BE MORE THAN 40%, anywhere you see a comment in bracket pls adhere strictly cos markers dnt have the patience this time.

All the best

will 24months be a good return time for business break even? and what if operational cost needed is small that the remaining 60% is too much for. what do you do with d rest figures?

Bluedahlia:

will 24months be a good return time for business break even? and what if operational cost needed is small that the remaining 60% is too much for. what do you do with d rest figures?

I sincerely think 24 months is too much, remember that Youwin will monitor your business for a year b4 leaving you. One year or less is perfect. They are expecting u to creat employment sharp sharp.... 12 months is good.

Just as I said earlier stop working around the you win grant. First sit down and do your analysis based on what you want. After which u den compare with your Uwin grant. You must not request for 10 million. Request for what is needed. During the last Youwin some requested 9m but only 2m was approved..... They will really scrutinize anything you put down...

awezu:
kaysy

CAPITAL EXPENSES CANNOT BE MORE THAN 40%, anywhere you see a comment in bracket pls adhere strictly cos markers dnt have the patience this time.

All the best

Markers have never had time and I believe exceeding the 40% is one of the criteria with which which they throw out so many proposals without even reading what the business is about.

Guys Thanks so much... Please review the image below and tell me what u think... This is the only place that's giving me concerns.

Hope its ok now, besides, must the value in my minimum equipment cost be same as the value in my capital expenses? someone said they should be same.

chukwuka12:


I sincerely think 24 months is too much, remember that Youwin will monitor your business for a year b4 leaving you. One year or less is perfect. They are expecting u to creat employment sharp sharp.... 12 months is good.

Just as I said earlier stop working around the you win grant. First sit down and do your analysis based on what you want. After which u den compare with your Uwin grant. You must not request for 10 million. Request for what is needed. During the last Youwin some requested 9m but only 2m was approved..... They will really scrutinize anything you put down...

in calculating the break even do you add up the grant been given and is it compulsory to exhaust the grant since you MUST spend only 40% on equipment?
thanks for your quick response you are indeed an Angel

Bluedahlia:

in calculating the break even do you add up the grant been given and is it compulsory to exhaust the grant since you MUST spend only 40% on equipment?
thanks for your quick response you are indeed an Angel

I think someone said YES to that, thats why i have my monthly income as N1,283,334 though it could be more than that during peak periods.

Registered, brb with my questions Sir/Madams.

kaysy:
Guys Thanks so much... Please review the image below and tell me what u think... This is the only place that's giving me concerns.

Hope its ok now, besides, must the value in my minimum equipment cost be same as the value in my capital expenses? someone said they should be same.

minimum equipment cost is more or less the least cost needed to get ur equipments ready to commence ur services or production...its like saying you want,lets say,#100k to get some materials but you wont mind taking at least #60k 2 get the materials before the rest is paid...so i dont think its illogical to write the same amount as ur required equipment when all they want is the minimum(small) equipment....just my opinion though!!

Hello Guys,
Winning a Youwin grant isn't rocket science, you just have to understand the business of your business. Its just like your final year project defense, Lecturers can tell those that didn't write their projects themselves and that is why most people don't pass the second stage at Youwin.

Before you apply, do not rush it, try and fully understand your business first by writing proper business plan. Let our Certified Youwin Advisors teach you how to put your business idea or concept down on paper first. "Writing Your Winning Business Plan" is a live online training course you can attend on a laptop or mobile device at www.wyzak.com

Remember you would be competing with MBA holders and other certified individuals this time around, sentiments wont win you the grant. Get prepared in 3 days, we will help you get shortlisted.

Visit www.wyzak.com today

@ Kaysy, are u sure u can sell 1.2m monthly?? Never over promise and under deliver... 1.2 is on the high side. You are contradicting your self. Ur capital cost is above 2m, your minimum equipment cost can not be 7m, it will definitely be below 2m. Your equipment is part of your capital cost, so what is d minimum u will need. Openmine has given u a clear picture.

@bluedahlia. Your break even is simply saying given all my expenses(total grant and any contribution from your end).. This is when my revenue will equate my cost. After which u start making profit. So u add up everything. It is a forecast you are making, its not based one disbursement. But the full grant....(that's my understanding)

chukwuka12:


@bluedahlia. Your break even is simply saying given all my expenses(total grant and any contribution from your end).. This is when my revenue will equate my cost. After which u start making profit. So u add up everything. It is a forecast you are making, its not based one disbursement. But the full grant....(that's my understanding)

Please can you give me a template for calculating break even point and answering the financials

blink182:
Please can you give me a template for calculating break even point and answering the financials

I don't have any, and am not vast in that area, however my little understanding is
BEP= fixed cost divide by contribution.
Where contribution is price per unit minus cost per unit.
Its gives u the total units to be produced to break even.

But like I said its not one of my strong points, am sincerely not good DAT area....

chukwuka12:


I don't have any, and am not vast in that area, however my little understanding is
BEP= fixed cost divide by contribution.
Where contribution is price per unit minus cost per unit.
Its gives u the total units to be produced to break even.

But like I said its not one of my strong points, am sincerely not good DAT area....

ok thanks

Who over here is having issues with their business plan presentation.(Abuja peeps).

it is not compulsory your capital cost shouldnt be more than 40%. this exception applies to those with existing business and need external fund to buy equipment or machinery. this is why there is a section called 'additional information', here you can start the reason why your capital cost is more than 40%.

for example, you run a fish farm and your farm has a stocking capacity of 40,000 fingerlings but due to limited fund, you could only stock 4 0r 5 ponds of 20,000 fingerlings. if you request for fund, you can clearly state that the needed fund is for buying fingerlings and feeding them and this is way more than 40% since you already have the man power,equipment and land that can handle 40,000 fingerlings.

This is business expansion and not start-up

for some of our past winners on this thread, pls I will appreciate if you help with these questions below; what do u think should be inputed in these areas for effectiveness.... thanks a lot

State the progress of any loan application

Describe any existing finance loans related to the business

How much money will you or your family and friends contribute to the business in the next 12
months.

How much money do you plan to take out of the business personally (average amount per month)?

angelsmartty:
for some of our past winners on this thread, pls I will appreciate if you help with these questions below; what do u think should be inputed in these areas for effectiveness.... thanks a lot

State the progress of any loan application

1.Describe any existing finance loans related to the business

2.How much money will you or your family and friends contribute to the business in the next 12
months.

3.How much money do you plan to take out of the business personally (average amount per month)?

To be honest with you,i didnt get the grant but the questions are within my reach...
1.before you answer this question,you must find out through the internet or financial institutes if there are loan schemes setup for your kind of business...if after researching,there is no existing loan,simply write NONE but if there is,explain your findings to them.
2.If you have the support of family and friends in terms of funds,put the amount...if not,insert 0
3.Its very important that your business pays you,if not ur financers will think you business isnt working or making the required sale expectations....So its imperative that you fix a respectable amount per month just for you......my opinions though

Well said..
1. Simply put zero if u are not accessing any loan for your business.

2. Its not a bad idea for u ur family to make a little commitment into your business even 200k or 500k or more... U are sending a positive message.

3. Open mine has answered it well

openmine:


minimum equipment cost is more or less the least cost needed to get ur equipments ready to commence ur services or production...its like saying you want,lets say,#100k to get some materials but you wont mind taking at least #60k 2 get the materials before the rest is paid...so i dont think its illogical to write the same amount as ur required equipment when all they want is the minimum(small) equipment....just my opinion though!!

chukwuka12:
@ Kaysy, are u sure u can sell 1.2m monthly?? Never over promise and under deliver... 1.2 is on the high side. You are contradicting your self. Ur capital cost is above 2m, your minimum equipment cost can not be 7m, it will definitely be below 2m. Your equipment is part of your capital cost, so what is d minimum u will need. Openmine has given u a clear picture.

@bluedahlia. Your break even is simply saying given all my expenses(total grant and any contribution from your end).. This is when my revenue will equate my cost. After which u start making profit. So u add up everything. It is a forecast you are making, its not based one disbursement. But the full grant....(that's my understanding)

Thanks so much guys... @Chukwuka12, am sure my business will make up to N1,200,000/Month or even more but due to what u said i had to adjust it a little down and increased the number of months to achieve that to 18months. Meanwhile i have recalculated my minimum equipment cost that is necessary to commence business and the value am having is N7,270,000. Every value am putting here are not made up but calculated upon being reached at, furthermore @openmine said they must not be same. In Capital Expenses, i only added Office Space (N1,000,000) & Power Generator (N1,500,000) to reach at N2,500,000 while in this question "What is the minimum equipment cost that is necessary to commence trading or expand your business." i had to add every other thing including the Power Generator again cos its an equipment without which NOTHING can be done, so that why i added it again. Please what du think?? Thank You.