How to bootstrap a bakery business (Part 7)

Filed in archive Bootstrapper Profile on November 29, 2006

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In the end, Rapoport found that the businesses earnings were lower than those projected in his business plan but still profitable in a less expensive location.

Though he says the lower numbers may be attributable to the smaller space, he admits he has no way of telling.

After writing seven business plans, the last bearing at least a resemblance to the business he and Powell are running today, Rapoport also admits he's learned to look at these start-up blueprints in a very different way.

"The thought process is what you need. Not the business plan," he said.

Rapoport had ended up not using a line of credit he had established for his existing businesses to fund the start-up and Canceled it when rates increased.

Instead, following a second piece of advice from his accountant, he decided to finance the business out of pocket supplementing with sale of inventory from his automobile business.

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