I really don’t understand this idea of typical salary. If you look
in the JCK report you will see wages. However, you will also see that
a jewelry store manager can make between $36,000 and $200,000+. There
is no average and who wants to be average anyhow? So who are you
making this business plan for, a bank or yourself? How much money do
you want to make? Set that as your goal and go for it. If you are
getting a bank loan, set up your salary so that you can pay your
bills, eat and live.
Don’t play the ‘I just started a business so I have to starve and
make no money’ game; if you do you will have a hard time. I know
several successful business owners who are perpetually in debt to
several banks, yet they own nice cars, big houses and take European
vacations. They let the business and the banks carry the debt.
Why not tell yourself I am worth x dollars, and I will work to
achieve that amount of $ period!
My wife took a course with a non-profit that teaches folks how to
create a small business and get a loan. The whole business plan part
about cash flow and expected income is just make believe. No one can
know how their money is going to flow, so don’t worry about it. Just
do it, like Nike.