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Table of Contents
Table of Contents
Chart: Cash.........................................................................................................................................19
7.5 Projected Balance Sheet...................................................................................................................20
Table: Balance Sheet..........................................................................................................................20
................................................................................................................................................................20
7.6 Business Ratios................................................................................................................................21
Table: Ratios......................................................................................................................................22
Table: Sales Forecast...................................................................................................................................1
......................................................................................................................................................................1
Table: Personnel...........................................................................................................................................2
......................................................................................................................................................................2
Table: General Assumptions........................................................................................................................3
......................................................................................................................................................................3
Table: Profit and Loss..................................................................................................................................4
......................................................................................................................................................................4
Table: Cash Flow.........................................................................................................................................5
Table: Balance Sheet....................................................................................................................................6
Page 2
MillenniumMart Inc.
Page 1
MillenniumMart Inc.
Convenience stores serve the entire purchasing population of its geographical area but focuses
on customers who need to purchase items outside of normal working hours such as swing shift
employees and quick shoppers looking for snacks and related items. Therefore we have
segmented our market into night shoppers, quick shoppers, and others. Growth rates for these
three segments match the population growth for the surrounding area.
Our main competitor is 7-11 which holds approximately 30% of the industry. Other competitors
include Circle K, Fastrip, and any of the 85 grocery establishments on the east coast.
Financial Considerations
Our start-up requirements come to $453,000, which are largely single time fees associated with
opening the store. These costs are financed by both private investors and the investment of
Martin-Bower. It should be noted that we expect to be operating at a loss for the first six
months before advertising begins to take effect and draw in customers.
MillenniumMart will be receiving periodic influxes of cash in order to cover operating expenses
during the first two years as it strives toward sustainable profitability. Almost all of this funding
has been arranged through lending institutions and private investors already. We do not
anticipate any cash flow problems during the next three years.
Chart: Highlights
Page 2
MillenniumMart Inc.
1.1 Objectives
These are the goals for the next three years for MillenniumMart:
1.2 Mission
MillenniumMart's primary objective is to create a new and revolutionary distribution outlet that
will significantly reduce prices for its customers and provide greater services with an equal level
of quality. The company seeks to be first to market with this daring new idea so as to capture
market share and create greater than average profits.
1.3 Keys to Success
In order to survive and expand, MillenniumMart must keep the following issues in mind:
We must attain a high level of visibility through the media, billboards, and other advertising.
We must establish rigid procedures for cost control and incentives for maintaining tight
control.
We must expend a significant amount on R&D in order to constantly be able to offer better
and greater products and services.
Page 3
MillenniumMart Inc.
distributors. The company will be incorporated in the state of Delaware with all shares held by
private investors.
Martin-Bower will own 29% of MillenniumMart's initial private shares with an option to acquire a
further 11% shares based on growth and profitability after the first five years. MillenniumMart
is expected to open its first store in downtown Manhattan in March of 2003. The company will
be set up with a board of directors. Mr. James Bean, a former senior manager of Martin-Bower
is slated for the position of CEO. Mrs. Linda Tuck has accepted the position of CFO.
2.2 Start-up Summary
Our start-up expenses come to $453,000, which are largely single time fees associated with
opening the store. These costs are financed by both private investors and the investment of
Martin-Bower.
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal
Pre-sale advertising/marketing
Land location and finders fee
Consultants
Insurance
Rent
Research and Development
Expensed Equipment
Initial store facilities
Other
Total Start-up Expenses
$2,400
$8,000
$8,000
$4,000
$1,780
$12,000
$10,000
$50,000
$150,000
$3,000
$249,180
Start-up Assets
Cash Required
Start-up Inventory
Other Current Assets
Long-term Assets
Total Assets
$113,820
$10,000
$8,000
$72,000
$203,820
Total Requirements
$453,000
Page 4
MillenniumMart Inc.
$249,180
$203,820
$453,000
Assets
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Total Assets
$90,000
$113,820
$0
$113,820
$203,820
$15,000
$100,000
$8,000
$10,000
$133,000
Capital
Planned Investment
Private Investors
Martin-Bower management
Other
Additional Investment Requirement
Total Planned Investment
Loss at Start-up (Start-up Expenses)
Total Capital
$150,000
$110,000
$60,000
$0
$320,000
($249,180)
$70,820
$203,820
Total Funding
$453,000
Page 5
MillenniumMart Inc.
Chart: Start-up
3.0 Products
As the most progressive company in the industry, MillenniumMart plans to offer a greater
number of products and services in the future so as to create another dimension of competitive
advantage. So that our customers will feel secure, we will subscribe to the security services
offered by the shopping center of which we are a part. This will cut down on graffiti and
loitering and insure the safety of both employees and customers.
MillenniumMart will sell the same products as other convenience stores in the same packaging
sizes, quality, and quantity as other stores. This includes newspapers, magazines, soft drinks,
fruit juices, sport drinks, hot and cold snacks, a limited number of grocery items such as
canned soups, microwaveable meals, condiments, bread, auto products such as fuel additives
and cleaning supplies, pet supplies, paper products, toothpaste, etc.
All products will be locally or nationally branded such as Frito-Lay, Coca-Cola, Jolly Green Giant,
Charmin, Stouffer's, etc. In addition each computerized transaction machine can dispense cash,
stamps, Lotto and phone cards and other coupons and will have the ability to create personal
accounts that can display preferred items, retain shopping lists and other services. An
automated, interactive "customer service rep" will be able to answer questions and pass on
comments to the company's management.
4.0 Market Analysis Summary
Our market is booming. Convenience store industry sales rose 8.6% for 2002. Overall U.S.
retail sales grew by only 6.3%, and grocery sales followed with 2.4% growth, proving once
again that the convenience store industry has become a powerful force in U.S. retailing.
Convenience stores serve the entire purchasing population of its geographical area but focuses
on customers who need to purchase items outside of normal working hours such as swing shift
employees and quick shoppers looking for snacks and related items. Therefore we have
Page 6
MillenniumMart Inc.
segmented our market into night shoppers, quick shoppers, and others. Growth rates for these
three segments match the population growth for the surrounding area.
Our main competitor is 7-11 which holds approximately 30% of the industry. Other competitors
include Circle K, Fastrip, and any of the 85 grocery establishments on the east coast.
4.1 Market Segmentation
Our target market for our test store encompasses a five mile radius in which the approximate
population is 150,000 (based on census information).
The majority of the residents in this area are Caucasian (58.8%) Black (23.6%) and Hispanic
(19%) with occupations classified as professional/technical, homemaker, or retired. The
majority of household incomes range from $20,000 - $30,000 (50.3%), yet there are also
affluent household incomes ranging from $50,000 - $100,000 (15.4%).
The median income in this area is $48,096, compared to the whole New York area which is
$34,248. The typical "head of household" age is 25 - 34 (22.4%) or age 34 - 44 (23.1%) with a
median age of 44.4 years old and an average age of 32 years old.
Target market segments
Convenience stores serve the entire purchasing population of its geographical area but focuses
on customers who need to purchase items outside of normal working hours such as swing shift
employees and quick shoppers looking for snacks and related items.
Table: Market Analysis
Market Analysis
Potential Customers
Growth
3%
2%
3%
2.68%
Year 1
Year 2
Year 3
Year 4
Year 5
78,000
42,000
30,000
150,000
80,340
42,840
30,840
154,020
82,750
43,697
31,704
158,151
85,233
44,571
32,592
162,396
87,790
45,462
33,505
166,757
CAGR
3.00%
2.00%
2.80%
2.68%
Page 7
MillenniumMart Inc.
Page 8
MillenniumMart Inc.
Many of the initial customers will be drawn to the unique nature of the store and will then have
the opportunity to realize the cost savings of MillenniumMart. We expect an average 27%
increase in sales from year to year. This may seem very high, but considering the level of initial
sales and the growth possibilities, management actually considers this to be conservative.
5.1 Competitive Edge
MillenniumMart's competitive edge will be the lower prices we will charge our customers and the
novel purchasing experience that will draw shoppers. In the convenience store industry, low
cost and availability are the two success criteria. We plan to create these advantages in a new,
high-tech environment that will retain customers.
5.2 Marketing Strategy
The most critical element of MillenniumMart's success will be its marketing and advertising.
Convenience stores serve the entire purchasing population of its geographical area but focuses
on customers who need to purchase items outside of normal working hours such as swing shift
employees and quick shoppers looking for snacks and related items. In order to capture
attention and sales MillenniumMart will use prominent signs at the store locations, billboards,
media bites on local news, and radio advertisements to capture customers. Many of the initial
customers will be drawn to the unique nature of the store and will then have the opportunity to
realize the cost savings of MillenniumMart. Since automated shopping is still in its infancy, the
firm expects to invest a great deal of its available cash and revenues in marketing efforts.
5.3 Sales Strategy
Since our store will be a stand-alone, remote facility, there is little in the way being able to
directly influence how we close the sales other than to have an attractive storefront with our
low prices and easy-to-use system. We believe that this in itself is its own seller. One critical
procedure to ensure top customer service and reliability will be establishing a method
for keeping enough inventory of all our products. We will be using industry data on inventory
for other convenience store chains to assist us.
Page 9
MillenniumMart Inc.
Sales Forecast
Year 1
Year 2
Year 3
Drinks
Snacks
Magazines/newspapers
General grocery items
Other
Total Sales
$978,070
$873,277
$209,586
$279,449
$139,724
$2,480,106
$1,242,149
$1,109,061
$266,175
$354,900
$177,450
$3,149,735
$1,577,529
$1,408,508
$338,042
$450,723
$225,361
$4,000,163
Year 1
$753,114
$672,423
$161,382
$215,175
$107,588
$1,909,682
Year 2
$956,455
$853,977
$204,955
$273,273
$136,636
$2,425,296
Year 3
$1,214,697
$1,084,551
$260,292
$347,056
$173,528
$3,080,125
Sales
Page 10
MillenniumMart Inc.
Page 11
MillenniumMart Inc.
who will be operations manager. Since the firm is a start-up, there will be little in the way of
formal structure at first. The company also plans to hire three technicians who will service the
automated store and a office manager. Additional personnel will be added once more stores are
set up.
Mr. Wallace Bean is a graduate of the University of Texas, Austin's school of business. He has
worked for more than twelve years in the food distribution and grocery store industry, including
positions as vice president of marketing for Fry's Food and Drug, director of special projects for
Giant Foods and more recently, senior vice president for Martin-Bower.
Mrs. Linda Tuck has a graduate degree in finance from Kansas State University and has eight
years experience working for various companies. Her last job was as a financial analyst for
Circle K corporation.
Mr Minoru Takeda is an MBA graduate from the University of Osaka. He has been operational
manager for Kiyama Inc. for the past six years which operates approximately six hundred
automated convenience stores throughout Japan. Mr. Takeda has moved to the United States
for the express purpose of bringing this new type of store to this country.
Page 12
MillenniumMart Inc.
Personnel Plan
Mr. Bean
Mrs. Tuck
Mr. Takeda
Office manager
Technicians
Total People
Total Payroll
Year 1
Year 2
Year 3
$42,000
$42,000
$30,000
$20,400
$33,000
7
$48,000
$48,000
$40,000
$22,000
$56,000
7
$52,000
$52,000
$48,000
$28,000
$58,000
7
$167,400
$214,000
$238,000
General Assumptions
Plan Month
Current Interest Rate
Long-term Interest Rate
Tax Rate
Other
Year 1
Year 2
Year 3
1
10.00%
10.00%
30.00%
0
2
10.00%
10.00%
30.00%
0
3
10.00%
10.00%
30.00%
0
Page 13
MillenniumMart Inc.
Break-even Analysis
Monthly Revenue Break-even
$165,326
Assumptions:
Average Percent Variable Cost
Estimated Monthly Fixed Cost
77%
$38,025
Page 14
MillenniumMart Inc.
Year 2
Year 3
$2,480,106
$1,909,682
$0
$1,909,682
$3,149,735
$2,425,296
$0
$2,425,296
$4,000,163
$3,080,125
$0
$3,080,125
$570,424
23.00%
$724,439
23.00%
$920,037
23.00%
Payroll
Sales and Marketing and Other Expenses
Depreciation
Leased equipment
Rent
Utilities
Accounting/bookeeping
Insurance
Payroll Taxes
Other
$167,400
$60,000
$7,200
$50,000
$84,000
$28,800
$6,500
$14,400
$0
$38,000
$214,000
$130,000
$7,200
$60,000
$84,000
$30,000
$9,000
$14,400
$0
$45,000
$238,000
$130,000
$7,200
$60,000
$84,000
$30,000
$9,000
$14,400
$0
$45,000
$456,300
$593,600
$617,600
$114,124
$121,324
$16,250
$29,362
$130,839
$138,039
$16,400
$34,332
$302,437
$309,637
$14,650
$86,336
$68,512
2.76%
$80,107
2.54%
$201,451
5.04%
Sales
Direct Cost of Sales
Other Costs of Goods
Total Cost of Sales
Gross Margin
Gross Margin %
Expenses
Net Profit
Net Profit/Sales
Page 15
MillenniumMart Inc.
Page 16
MillenniumMart Inc.
Page 17
MillenniumMart Inc.
Year 2
Year 3
$2,480,106
$2,480,106
$3,149,735
$3,149,735
$4,000,163
$4,000,163
$0
$5,000
$0
$50,000
$0
$0
$54,000
$2,589,106
$0
$0
$0
$0
$0
$0
$78,000
$3,227,735
$0
$0
$0
$0
$0
$0
$0
$4,000,163
Year 1
Year 2
Year 3
$167,400
$2,177,877
$2,345,277
$214,000
$2,961,091
$3,175,091
$238,000
$3,558,207
$3,796,207
$0
$0
$0
$0
$0
$0
$0
$2,345,277
$0
$7,000
$0
$5,000
$0
$0
$0
$3,187,091
$0
$13,000
$0
$10,000
$0
$30,000
$50,000
$3,899,207
$243,829
$357,649
$40,643
$398,292
$100,956
$499,248
Cash Received
Cash from Operations
Cash Sales
Subtotal Cash from Operations
Additional Cash Received
Sales Tax, VAT, HST/GST Received
New Current Borrowing
New Other Liabilities (interest-free)
New Long-term Liabilities
Sales of Other Current Assets
Sales of Long-term Assets
New Investment Received
Subtotal Cash Received
Expenditures
Expenditures from Operations
Cash Spending
Bill Payments
Subtotal Spent on Operations
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out
Principal Repayment of Current Borrowing
Other Liabilities Principal Repayment
Long-term Liabilities Principal Repayment
Purchase Other Current Assets
Purchase Long-term Assets
Dividends
Subtotal Cash Spent
Net Cash Flow
Cash Balance
Page 18
MillenniumMart Inc.
Chart: Cash
Page 19
MillenniumMart Inc.
Year 2
Year 3
$357,649
$371,402
$8,000
$737,050
$398,292
$282,345
$8,000
$688,637
$499,248
$358,578
$8,000
$865,826
$72,000
$7,200
$64,800
$801,850
$72,000
$14,400
$57,600
$746,237
$102,000
$21,600
$80,400
$946,226
Year 1
Year 2
Year 3
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$428,518
$20,000
$10,000
$458,518
$226,798
$13,000
$10,000
$249,798
$298,335
$0
$10,000
$308,335
Long-term Liabilities
Total Liabilities
$150,000
$608,518
$145,000
$394,798
$135,000
$443,335
$374,000
($249,180)
$68,512
$193,332
$801,850
$452,000
($180,668)
$80,107
$351,439
$746,237
$452,000
($150,561)
$201,451
$502,891
$946,226
$193,332
$351,439
$502,891
Assets
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
Liabilities and Capital
Current Liabilities
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
Net Worth
Page 20
MillenniumMart Inc.
Page 21
MillenniumMart Inc.
Table: Ratios
Ratio Analysis
Year 1
Year 2
Year 3
Industry Profile
n.a.
27.00%
27.00%
2.27%
Inventory
Other Current Assets
Total Current Assets
Long-term Assets
Total Assets
46.32%
1.00%
91.92%
8.08%
100.00%
37.84%
1.07%
92.28%
7.72%
100.00%
37.90%
0.85%
91.50%
8.50%
100.00%
22.18%
26.81%
56.12%
43.88%
100.00%
Current Liabilities
Long-term Liabilities
Total Liabilities
Net Worth
57.18%
18.71%
75.89%
24.11%
33.47%
19.43%
52.91%
47.09%
32.59%
14.27%
46.85%
53.15%
26.39%
24.87%
51.26%
48.74%
100.00%
23.00%
20.26%
0.00%
4.60%
100.00%
23.00%
20.10%
0.00%
4.15%
100.00%
23.00%
17.78%
0.00%
7.56%
100.00%
23.55%
16.21%
0.85%
1.02%
1.61
0.80
75.89%
50.63%
12.21%
2.76
1.63
52.91%
32.56%
15.34%
2.81
1.65
46.85%
57.23%
30.41%
1.68
0.71
4.63%
57.28%
10.83%
Sales Growth
Percent of Total Assets
Percent of Sales
Sales
Gross Margin
Selling, General & Administrative Expenses
Advertising Expenses
Profit Before Interest and Taxes
Main Ratios
Current
Quick
Total Debt to Total Assets
Pre-tax Return on Net Worth
Pre-tax Return on Assets
Additional Ratios
Year 1
Year 2
Year 3
2.76%
35.44%
2.54%
22.79%
5.04%
40.06%
n.a
n.a
10.91
6.06
27
3.09
7.42
12.17
43
4.22
9.61
12.17
26
4.23
n.a
n.a
n.a
n.a
3.15
0.75
1.12
0.63
0.88
0.70
n.a
n.a
$278,532
7.02
$438,839
7.98
$557,491
20.64
n.a
n.a
0.32
57%
0.80
12.83
0.00
0.24
33%
1.63
8.96
0.00
0.24
33%
1.65
7.95
0.25
n.a
n.a
n.a
n.a
n.a
Activity Ratios
Inventory Turnover
Accounts Payable Turnover
Payment Days
Total Asset Turnover
Debt Ratios
Debt to Net Worth
Current Liab. to Liab.
Liquidity Ratios
Net Working Capital
Interest Coverage
Additional Ratios
Assets to Sales
Current Debt/Total Assets
Acid Test
Sales/Net Worth
Dividend Payout
Page 22
Appendix
Table: Sales Forecast
Sales Forecast
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$28,000
$25,000
$6,000
$8,000
$4,000
$71,000
$33,040
$29,500
$7,080
$9,440
$4,720
$83,780
$38,987
$34,810
$8,354
$11,139
$5,570
$98,860
$46,005
$41,076
$9,858
$13,144
$6,572
$116,655
$54,286
$48,469
$11,633
$15,510
$7,755
$137,653
$64,057
$57,194
$13,727
$18,302
$9,151
$162,431
$75,588
$67,489
$16,197
$21,596
$10,798
$191,668
$89,193
$79,637
$19,113
$25,484
$12,742
$226,169
$105,248
$93,971
$22,553
$30,071
$15,035
$266,879
$124,193
$110,886
$26,613
$35,484
$17,742
$314,917
$146,547
$130,846
$31,403
$41,871
$20,935
$371,602
$172,926
$154,398
$37,056
$49,407
$24,704
$438,491
Sales
Drinks
Snacks
Magazines/newspapers
General grocery items
Other
Total Sales
0%
0%
0%
0%
0%
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Drinks
$21,560
$25,441
$30,020
$35,424
$41,800
$49,324
$58,202
$68,679
$81,041
$95,628
$112,841
$133,153
Snacks
$19,250
$22,715
$26,804
$31,628
$37,321
$44,039
$51,966
$61,320
$72,358
$85,382
$100,751
$118,887
Magazines/newspapers
$4,620
$5,452
$6,433
$7,591
$8,957
$10,569
$12,472
$14,717
$17,366
$20,492
$24,180
$28,533
$6,160
$7,269
$8,577
$10,121
$11,943
$14,093
$16,629
$19,623
$23,155
$27,322
$32,240
$38,044
Other
$3,080
$3,634
$4,289
$5,061
$5,971
$7,046
$8,315
$9,811
$11,577
$13,661
$16,120
$19,022
$54,670
$64,511
$76,123
$89,825
$105,993
$125,072
$147,585
$174,150
$205,497
$242,486
$286,134
$337,638
Page 1
Appendix
Table: Personnel
Personnel Plan
Mr. Bean
Mrs. Tuck
Mr. Takeda
Office manager
Technicians
Total People
Total Payroll
0%
0%
0%
0%
0%
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$3,500
$3,500
$2,500
$1,700
$1,500
5
$3,500
$3,500
$2,500
$1,700
$1,500
5
$3,500
$3,500
$2,500
$1,700
$1,500
5
$3,500
$3,500
$2,500
$1,700
$1,500
5
$3,500
$3,500
$2,500
$1,700
$1,500
5
$3,500
$3,500
$2,500
$1,700
$1,500
5
$3,500
$3,500
$2,500
$1,700
$3,000
6
$3,500
$3,500
$2,500
$1,700
$3,000
6
$3,500
$3,500
$2,500
$1,700
$4,500
7
$3,500
$3,500
$2,500
$1,700
$4,500
7
$3,500
$3,500
$2,500
$1,700
$4,500
7
$3,500
$3,500
$2,500
$1,700
$4,500
7
$12,700
$12,700
$12,700
$12,700
$12,700
$12,700
$14,200
$14,200
$15,700
$15,700
$15,700
$15,700
Page 2
Appendix
Table: General Assumptions
General Assumptions
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
10
11
12
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
10.00%
Tax Rate
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
30.00%
Plan Month
Other
Month 12
Page 3
Appendix
Table: Profit and Loss
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Sales
$71,000
$83,780
$98,860
$116,655
$137,653
$162,431
$191,668
$226,169
$266,879
$314,917
$371,602
$438,491
$54,670
$64,511
$76,123
$89,825
$105,993
$125,072
$147,585
$174,150
$205,497
$242,486
$286,134
$337,638
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$54,670
$64,511
$76,123
$89,825
$105,993
$125,072
$147,585
$174,150
$205,497
$242,486
$286,134
$337,638
Gross Margin
$16,330
$19,269
$22,738
$26,831
$31,660
$37,359
$44,084
$52,019
$61,382
$72,431
$85,469
$100,853
Gross Margin %
23.00%
23.00%
23.00%
23.00%
23.00%
23.00%
23.00%
23.00%
23.00%
23.00%
23.00%
23.00%
Expenses
Payroll
$12,700
$12,700
$12,700
$12,700
$12,700
$12,700
$14,200
$14,200
$15,700
$15,700
$15,700
$15,700
$5,000
$5,000
$5,000
$5,000
$5,000
$5,000
$5,000
$5,000
$5,000
$5,000
$5,000
$5,000
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
Leased equipment
$4,000
$4,000
$4,000
$4,000
$4,000
$4,000
$4,000
$4,000
$4,000
$4,000
$4,000
$6,000
Rent
$7,000
$7,000
$7,000
$7,000
$7,000
$7,000
$7,000
$7,000
$7,000
$7,000
$7,000
$7,000
Utilities
$2,400
$2,400
$2,400
$2,400
$2,400
$2,400
$2,400
$2,400
$2,400
$2,400
$2,400
$2,400
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$750
$750
$1,200
$1,200
$1,200
$1,200
$1,200
$1,200
$1,200
$1,200
$1,200
$1,200
$1,200
$1,200
$0
$2,000
$0
$2,000
$0
$2,000
$0
$2,000
$0
$2,000
$0
$2,000
$0
$2,000
$0
$2,000
$0
$3,000
$0
$4,000
$0
$5,000
$0
$10,000
$35,400
$35,400
$35,400
$35,400
$35,400
$35,400
$36,900
$36,900
$39,400
$40,400
$41,650
$48,650
($19,070)
($16,131)
($12,662)
($8,569)
($3,740)
$1,959
$7,184
$15,119
$21,982
$32,031
$43,819
$52,203
EBITDA
($18,470)
($15,531)
($12,062)
($7,969)
($3,140)
$2,559
$7,784
$15,719
$22,582
$32,631
$44,419
$52,803
$958
$1,375
$1,375
$1,375
$1,375
$1,375
$1,375
$1,375
$1,417
$1,417
$1,417
$1,417
($6,008)
($5,252)
($4,211)
($2,983)
($1,534)
$175
$1,743
$4,123
$6,170
$9,184
$12,721
$15,236
Net Profit
($14,020)
($12,254)
($9,826)
($6,961)
($3,580)
$409
$4,066
$9,621
$14,396
$21,430
$29,681
$35,550
Net Profit/Sales
-19.75%
-14.63%
-9.94%
-5.97%
-2.60%
0.25%
2.12%
4.25%
5.39%
6.80%
7.99%
8.11%
Accounting/bookeeping
Insurance
Payroll Taxes
Other
Total Operating Expenses
Interest Expense
Taxes Incurred
15%
Page 4
Appendix
Table: Cash Flow
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Cash Sales
$71,000
$83,780
$98,860
$116,655
$137,653
$162,431
$191,668
$226,169
$266,879
$314,917
$371,602
$438,491
$71,000
$83,780
$98,860
$116,655
$137,653
$162,431
$191,668
$226,169
$266,879
$314,917
$371,602
$438,491
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$5,000
$0
$0
$0
$0
$0
$0
Cash Received
Cash from Operations
0.00%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$50,000
$0
$0
$0
$0
$0
$0
$4,000
$71,000
$133,780
$98,860
$116,655
$187,653
$162,431
$191,668
$226,169
$271,879
$314,917
$371,602
$442,491
Expenditures
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$12,700
$12,700
$12,700
$12,700
$12,700
$12,700
$14,200
$14,200
$15,700
$15,700
$15,700
$15,700
Bill Payments
$12,062
$120,914
$94,045
$108,734
$126,066
$146,518
$170,637
$198,680
$232,293
$272,239
$319,734
$375,955
$24,762
$133,614
$106,745
$121,434
$138,766
$159,218
$184,837
$212,880
$247,993
$287,939
$335,434
$391,655
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Dividends
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$24,762
$133,614
$106,745
$121,434
$138,766
$159,218
$184,837
$212,880
$247,993
$287,939
$335,434
$391,655
$46,238
$166
($7,885)
($4,779)
$48,887
$3,212
$6,831
$13,289
$23,886
$26,979
$36,168
$50,835
Cash Balance
$160,058
$160,225
$152,340
$147,561
$196,448
$199,661
$206,492
$219,780
$243,667
$270,645
$306,813
$357,649
Page 5
Appendix
Table: Balance Sheet
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$113,820
$10,000
$8,000
$131,820
$160,058
$60,137
$8,000
$228,195
$160,225
$70,962
$8,000
$239,186
$152,340
$83,735
$8,000
$244,074
$147,561
$98,807
$8,000
$254,368
$196,448
$116,592
$8,000
$321,040
$199,661
$137,579
$8,000
$345,239
$206,492
$162,343
$8,000
$376,835
$219,780
$191,565
$8,000
$419,345
$243,667
$226,047
$8,000
$477,713
$270,645
$266,735
$8,000
$545,380
$306,813
$314,747
$8,000
$629,561
$357,649
$371,402
$8,000
$737,050
$72,000
$0
$72,000
$203,820
$72,000
$600
$71,400
$299,595
$72,000
$1,200
$70,800
$309,986
$72,000
$1,800
$70,200
$314,274
$72,000
$2,400
$69,600
$323,968
$72,000
$3,000
$69,000
$390,040
$72,000
$3,600
$68,400
$413,639
$72,000
$4,200
$67,800
$444,635
$72,000
$4,800
$67,200
$486,545
$72,000
$5,400
$66,600
$544,313
$72,000
$6,000
$66,000
$611,380
$72,000
$6,600
$65,400
$694,961
$72,000
$7,200
$64,800
$801,850
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$8,000
$15,000
$10,000
$33,000
$117,795
$15,000
$10,000
$142,795
$90,440
$15,000
$10,000
$115,440
$104,554
$15,000
$10,000
$129,554
$121,209
$15,000
$10,000
$146,209
$140,862
$15,000
$10,000
$165,862
$164,052
$15,000
$10,000
$189,052
$190,981
$15,000
$10,000
$215,981
$223,271
$15,000
$10,000
$248,271
$261,643
$20,000
$10,000
$291,643
$307,280
$20,000
$10,000
$337,280
$361,179
$20,000
$10,000
$391,179
$428,518
$20,000
$10,000
$458,518
$100,000
$133,000
$100,000
$242,795
$150,000
$265,440
$150,000
$279,554
$150,000
$296,209
$150,000
$315,862
$150,000
$339,052
$150,000
$365,981
$150,000
$398,271
$150,000
$441,643
$150,000
$487,280
$150,000
$541,179
$150,000
$608,518
$320,000
($249,180)
$0
$70,820
$203,820
$320,000
($249,180)
($14,020)
$56,800
$299,595
$320,000
($249,180)
($26,274)
$44,546
$309,986
$320,000
($249,180)
($36,100)
$34,720
$314,274
$320,000
($249,180)
($43,061)
$27,759
$323,968
$370,000
($249,180)
($46,641)
$74,179
$390,040
$370,000
($249,180)
($46,232)
$74,588
$413,639
$370,000
($249,180)
($42,166)
$78,654
$444,635
$370,000
($249,180)
($32,545)
$88,275
$486,545
$370,000
($249,180)
($18,150)
$102,670
$544,313
$370,000
($249,180)
$3,280
$124,100
$611,380
$370,000
($249,180)
$32,962
$153,782
$694,961
$374,000
($249,180)
$68,512
$193,332
$801,850
$70,820
$56,800
$44,546
$34,720
$27,759
$74,179
$74,588
$78,654
$88,275
$102,670
$124,100
$153,782
$193,332
Starting Balances
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
Liabilities and Capital
Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
Long-term Liabilities
Total Liabilities
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
Net Worth
Page 6