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How to prepare a sales forecast for a business plan » March 09, 2011. His entire income is based on his personal output and he’d like to hire several woodworkers, expand his sales to existing customers, and generate a profit in addition to his contributed labor. Appropriate covenants.
Covenants, a legal term that just means promises, are things you promise to do (known as affirmative covenants ) or promise not to do (known as negative covenants ) as the manager of the business. Any investor is going to want covenants in some form, and it’s not unreasonable that they do.
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