Professional Documents
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Frau To Repair
Frau To Repair
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This is a business plan. It does not imply an offering of securities.
Table of Contents
1.0 Executive Summary.............................................................................................................................1
1.1 Objectives ...................................................................................................................................1
Chart: Highlights ......................................................................................................................1
1.2 Keys to Success ........................................................................................................................1
1.3 Mission........................................................................................................................................2
2.0 Company Summary.............................................................................................................................2
2.1 Start-up Summary ......................................................................................................................2
Chart: Start-up .........................................................................................................................3
Table: Start-up .........................................................................................................................3
Table: Start-up Funding ..........................................................................................................4
3.0 Services................................................................................................................................................4
3.1 Service Description ...................................................................................................................5
3.2 Competitive Comparison..........................................................................................................5
3.3 Technology..................................................................................................................................5
3.4 Future Services ..........................................................................................................................6
4.0 Market Analysis Summary..................................................................................................................6
4.1 Market Segmentation ................................................................................................................6
Table: Market Analysis ...........................................................................................................6
4.2 Service Business Analysis........................................................................................................6
4.2.1 Competition and Buying Patterns................................................................................6
4.2.2 Main Competitors..........................................................................................................7
4.2.3 Business Participants ...................................................................................................7
5.0 Strategy and Implementation Summary ............................................................................................7
5.1 Competitive Edge ......................................................................................................................7
5.1.1 Positioning Statement ..................................................................................................8
5.2 Marketing Strategy.....................................................................................................................8
5.2.1 Promotion Strategy .......................................................................................................8
5.2.2 Pricing Strategy.............................................................................................................8
5.3 Sales Forecast ...........................................................................................................................9
Chart: Sales Monthly.............................................................................................................10
Chart: Sales by Year.............................................................................................................10
Table: Sales Forecast ..........................................................................................................11
6.0 Management Summary ....................................................................................................................12
6.1 Personnel Plan.........................................................................................................................12
Table: Personnel ...................................................................................................................12
7.0 Financial Plan ....................................................................................................................................13
7.1 Break-even Analysis................................................................................................................13
Table: Break-even Analysis .................................................................................................13
Chart: Break-even Analysis .................................................................................................13
7.2 Projected Profit and Loss .......................................................................................................14
Chart: Profit Monthly .............................................................................................................14
Chart: Profit Yearly................................................................................................................14
Chart: Gross Margin Monthly ...............................................................................................15
Chart: Gross Margin Yearly..................................................................................................15
Table: Profit and Loss ..........................................................................................................16
7.3 Projected Cash Flow...............................................................................................................16
Chart: Cash ...........................................................................................................................17
Page 1
Table of Contents
Table: Cash Flow..................................................................................................................18
7.4 Projected Balance Sheet ........................................................................................................19
Table: Balance Sheet ...........................................................................................................19
7.5 Business Ratios .......................................................................................................................19
Table: Ratios .........................................................................................................................21
Table: Sales Forecast ...............................................................................................................................1
Table: Personnel ........................................................................................................................................2
Table: General Assumptions ....................................................................................................................3
Table: Profit and Loss ...............................................................................................................................4
Table: Cash Flow .......................................................................................................................................5
Table: Balance Sheet ................................................................................................................................6
Page 2
1.1 Objectives
The objectives over the next three years for F & R Auto Repair are the following:
High-quality work.
Constant contac t with c lients so as to keep them informed about the state of their
automobile and the repair job progress.
Knowledgeable mechanics that are friendly, customer oriented, and will take the time to
Page 1
1.3 Mission
The mission of F & R Auto Repair is to provide high quality, convenient and comprehensive auto
repair at low cost. The most important aspec t of our business is trust. It is the goal of our firm
to have 100% customer satisfac tion in regards to quality, friendliness, time to completion and
to disc over new ways to exceed the expec tations of our clients.
Page 2
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal
Stationery etc.
Advertising
Phone
Insurance
$500
$200
$600
$200
$800
Rent
Utilities
Computer
$4,000
$200
$2,000
Other
Total Start-up Expenses
$600
$9,100
Start-up Assets
Cash Required
Start-up Inventory
$2,900
$0
$0
$20,000
$22,900
Total Requirements
$32,000
Page 3
$9,100
$22,900
$32,000
Assets
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Total Assets
$20,000
$2,900
$0
$2,900
$22,900
$0
$20,000
$0
$0
$20,000
Capital
Planned Investment
John Ford
Michael Ronald
Other
Additional Investment Requirement
Total Planned Investment
$6,000
$6,000
$0
$0
$12,000
($9,100)
$2,900
$22,900
Total Funding
$32,000
3.0 Services
F & R Auto offers a wide range of services as outlined in the detailed sections below. It is
ultimately the goal of the company to offer a one- stop fac ility for all auto servicing needs,
including brakes, transmission, wheel alignment, etc. In this way the company can offer
greater perceived value for the customer than many other shops which spec ialize in c ertain
areas.
The industry is highly competitive with suppliers having a great deal of power in setting and
negotiating the prices of their products and services to repair shops. In addition, bec ause the
customers see the service as undifferentiated and a "commodity" with little value separation
between c ompetitors, buyer power is also very high. Finally, the barriers to entry are moderately
low, and the large number of competitors in this field, including substitutes (such as do-ityourself work) mean that the pricing for such services are very competitive. The only way to
Page 4
Sc heduled maintenance.
Wheel alignments, tires and rims.
Brake repair.
Comprehensive engine repair.
Transmission.
Each job or project will be on a reservation basis, although we will ac cept a small percentage
of drive in repair work.
3.3 Technology
Page 5
Growth
3%
0%
3.00%
Year 1
Year 2
Year 3
Year 4
Year 5
145,833
0
145,833
150,208
0
150,208
154,714
0
154,714
159,355
0
159,355
164,136
0
164,136
CAGR
3.00%
0.00%
3.00%
Flyers.
Direct mailers.
Disc ounts.
Newspaper ads.
Yellow pages.
Referrals through other loc al businesses.
Each of these marketing approaches has the advantage of being low cost and creating service
awareness. The company's long-term marketing goals are to use loc al radio and TV ads similar to
the Les Sc hwab Tire Center ads.
The company is also investigating the possibility of having a grand opening program that would
feature disc ounts, food, a loc al radio disc joc key, and other promotional ideas.
The number of clients Ford and Ronald can attrac t from their previous companies.
The effect of planned promotions and word-of-mouth marketing.
Current prices and costs of doing business.
The types of automobiles and jobs that will oc cur in every month.
For the most part, sales for an automobile repair firm are steady year round and reflect little
seasonality.
The table and charts below outline the sales forecast. Three years of annual sales and costs
of sales are shown. Twelve monthly tallies are included in the appendices.
Page 9
Page 10
Year 1
Year 2
Year 3
$51,000
$57,120
$62,261
$60,000
$67,800
$178,800
$67,200
$75,936
$200,256
$71,904
$81,252
$215,417
Year 1
$5,100
Year 2
$5,712
Year 3
$6,226
$6,000
$6,780
$17,880
$6,720
$7,594
$20,026
$7,190
$8,125
$21,542
Page 11
Table: Personnel
Personnel Plan
Mr. Ford
Mr. Ronald
Year 1
$36,000
$36,000
Year 2
$36,000
$36,000
Year 3
$36,000
$36,000
$14,400
$6,900
$0
$0
4
$15,000
$15,000
$0
$0
4
$15,000
$15,000
$15,000
$0
5
Total Payroll
$93,300
$102,000
$117,000
Page 12
$14,564
Assumptions:
Average Percent Variable Cost
Estimated Monthly Fixed Cost
10%
$13,107
Page 13
Page 14
Page 15
Year 2
$200,256
$20,026
Year 3
$215,417
$21,542
$0
$17,880
$0
$20,026
$0
$21,542
$160,920
90.00%
$180,230
90.00%
$193,875
90.00%
$93,300
$6,000
$1,992
$6,000
$4,800
$7,200
$24,000
$13,995
$0
$102,000
$7,200
$2,000
$1,000
$5,000
$7,400
$24,000
$15,300
$0
$117,000
$7,400
$2,000
$1,000
$5,000
$7,400
$24,000
$17,550
$0
$157,287
$163,900
$181,350
$3,633
$5,625
$1,892
$522
$16,330
$18,330
$1,700
$4,389
$12,525
$14,525
$1,500
$3,308
Net Profit
Net Profit/Sales
$1,219
0.68%
$10,241
5.11%
$7,718
3.58%
Sales
Direct Cost of Sales
Other Production Expenses
Total Cost of Sales
Gross Margin
Gross Margin %
Expenses
Payroll
Sales and Marketing and Other Expenses
Depreciation
Leased Equipment
Utilities
Insurance
Rent
Payroll Taxes
Other
Total Operating Expenses
Page 16
Page 17
Year 2
Year 3
$160,920
$14,635
$175,555
$180,230
$19,636
$199,867
$193,875
$21,267
$215,142
$0
$0
$0
$0
$0
$0
$0
$175,555
$0
$0
$0
$0
$0
$0
$0
$199,867
$0
$0
$0
$0
$0
$0
$0
$215,142
Year 1
Year 2
Year 3
$93,300
$77,017
$170,317
$102,000
$86,254
$188,254
$117,000
$88,561
$205,561
$0
$0
$0
$2,000
$0
$0
$0
$2,000
$0
$0
$0
$2,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$172,317
$190,254
$207,561
$3,238
$6,138
$9,613
$15,751
$7,581
$23,332
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
Year 2
Year 3
Current Assets
Cash
Accounts Receivable
$6,138
$3,245
$15,751
$3,634
$23,332
$3,910
Inventory
Other Current Assets
Total Current Assets
$1,815
$0
$11,198
$2,056
$0
$21,442
$2,124
$0
$29,366
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
$20,000
$1,992
$18,008
$29,206
$20,000
$3,992
$16,008
$37,450
$20,000
$5,992
$14,008
$43,374
Year 1
Year 2
Year 3
Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$7,088
$0
$0
$7,088
$7,090
$0
$0
$7,090
$7,296
$0
$0
$7,296
Long-term Liabilities
Total Liabilities
$18,000
$25,088
$16,000
$23,089
$14,000
$21,296
Paid-in Capital
Retained Earnings
Earnings
$12,000
($9,100)
$1,219
$12,000
($7,881)
$10,241
$12,000
$2,360
$7,718
Total Capital
Total Liabilities and Capital
$4,119
$29,206
$14,360
$37,450
$22,078
$43,374
$4,119
$14,360
$22,078
Assets
Net Worth
Page 20
Year 2
12.00%
Year 3
7.57%
Industry Profile
7.00%
11.11%
6.21%
0.00%
38.34%
61.66%
100.00%
9.70%
5.49%
0.00%
57.25%
42.75%
100.00%
9.01%
4.90%
0.00%
67.70%
32.30%
100.00%
8.80%
9.60%
23.80%
42.20%
57.80%
100.00%
24.27%
61.63%
85.90%
14.10%
18.93%
42.72%
61.65%
38.35%
16.82%
32.28%
49.10%
50.90%
34.80%
24.70%
59.50%
40.50%
100.00%
100.00%
100.00%
100.00%
90.00%
89.32%
1.34%
2.03%
90.00%
84.89%
1.50%
8.15%
90.00%
86.42%
1.39%
5.81%
n.a.
75.20%
1.30%
1.70%
Current
Quick
Total Debt to Total Assets
Pre-tax Return on Net Worth
Pre-tax Return on Assets
1.58
1.32
85.90%
42.28%
5.96%
3.02
2.73
61.65%
101.88%
39.07%
4.02
3.73
49.10%
49.94%
25.42%
1.17
0.65
59.50%
1.80%
4.60%
Additional Ratios
Net Profit Margin
Return on Equity
Year 1
0.68%
29.59%
Year 2
5.11%
71.32%
Year 3
3.58%
34.96%
n.a
n.a
5.51
57
10.91
11.87
5.51
63
10.35
12.17
5.51
64
10.31
12.17
n.a
n.a
n.a
n.a
Payment Days
Total Asset Turnover
27
6.12
30
5.35
30
4.97
n.a
n.a
Debt Ratios
Debt to Net Worth
Current Liab. to Liab.
6.09
0.28
1.61
0.31
0.96
0.34
n.a
n.a
$4,111
$14,352
$22,070
n.a
1.92
9.61
8.35
n.a
0.16
24%
0.87
43.41
0.19
19%
2.22
13.95
0.20
17%
3.20
9.76
n.a
n.a
n.a
n.a
Sales Growth
Percent of Total Assets
Accounts Receivable
Inventory
Other Current Assets
Total Current Assets
Long-term Assets
Total Assets
Current Liabilities
Long-term Liabilities
Total Liabilities
Net Worth
Percent of Sales
Sales
Gross Margin
Selling, General & Administrative Expenses
Advertising Expenses
Profit Before Interest and Taxes
Main Ratios
Activity Ratios
Accounts Receivable Turnover
Collection Days
Inventory Turnover
Accounts Payable Turnover
Liquidity Ratios
Net Working Capital
Interest Coverage
Additional Ratios
Assets to Sales
Current Debt/Total Assets
Acid Test
Sales/Net Worth
Page 21
0.00
0.00
0.00
n.a
Page 22
Appendix
Table: Sales Forecast
Sales Forecast
Sales
Routine maintenance
Small repair jobs
Large repair jobs
Total Sales
Direct Cost of Sales
Routine maintenance
Small repair jobs
Large repair jobs
Subtotal Direct Cost of Sales
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
0%
$4,000
$4,000
$4,000
$4,000
$4,000
$4,000
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
0%
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$5,500
$5,500
$5,500
$5,500
$5,500
$5,500
0%
$4,800
$13,300
$4,800
$13,300
$4,800
$13,300
$4,800
$13,300
$4,800
$13,300
$4,800
$13,300
$6,500
$16,500
$6,500
$16,500
$6,500
$16,500
$6,500
$16,500
$6,500
$16,500
$6,500
$16,500
Month 1
$400
Month 2
$400
Month 3
$400
Month 4
$400
Month 5
$400
Month 6
$400
Month 7
$450
Month 8
$450
Month 9
$450
Month 10
$450
Month 11
$450
Month 12
$450
$450
$480
$450
$480
$450
$480
$450
$480
$450
$480
$450
$480
$550
$650
$550
$650
$550
$650
$550
$650
$550
$650
$550
$650
$1,330
$1,330
$1,330
$1,330
$1,330
$1,330
$1,650
$1,650
$1,650
$1,650
$1,650
$1,650
Page 1
Appendix
Table: Personnel
Personnel Plan
Mr. Ford
Mr. Ronald
0%
0%
Month 1
$3,000
$3,000
Month 2
$3,000
$3,000
Month 3
$3,000
$3,000
Month 4
$3,000
$3,000
Month 5
$3,000
$3,000
Month 6
$3,000
$3,000
Month 7
$3,000
$3,000
Month 8
$3,000
$3,000
Month 9
$3,000
$3,000
Month 10
$3,000
$3,000
Month 11
$3,000
$3,000
Month 12
$3,000
$3,000
0%
0%
0%
$1,200
$0
$0
$1,200
$0
$0
$1,200
$0
$0
$1,200
$0
$0
$1,200
$0
$0
$1,200
$0
$0
$1,200
$1,150
$0
$1,200
$1,150
$0
$1,200
$1,150
$0
$1,200
$1,150
$0
$1,200
$1,150
$0
$1,200
$1,150
$0
0%
$0
3
$0
3
$0
3
$0
3
$0
3
$0
3
$0
4
$0
4
$0
4
$0
4
$0
4
$0
4
$7,200
$7,200
$7,200
$7,200
$7,200
$7,200
$8,350
$8,350
$8,350
$8,350
$8,350
$8,350
Total Payroll
Page 2
Appendix
Table: General Assumptions
General Assumptions
Plan Month
Current Interest Rate
Month 1
1
10.00%
Month 2
2
10.00%
Month 3
3
10.00%
Month 4
4
10.00%
Month 5
5
10.00%
Month 6
6
10.00%
Month 7
7
10.00%
Month 8
8
10.00%
Month 9
9
10.00%
Month 10
10
10.00%
Month 11
11
10.00%
Month 12
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%
Tax Rate
Other
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
30.00%
0
Page 3
Appendix
Table: Profit and Loss
Pro Forma Profit and Loss
Month 1
$13,300
$1,330
Sales
Direct Cost of Sales
Other Production Expenses
Month 2
$13,300
$1,330
Month 3
$13,300
$1,330
Month 4
$13,300
$1,330
Month 5
$13,300
$1,330
Month 6
$13,300
$1,330
Month 7
$16,500
$1,650
Month 8
$16,500
$1,650
Month 9
$16,500
$1,650
Month 10
$16,500
$1,650
Month 11
$16,500
$1,650
Month 12
$16,500
$1,650
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$1,330
$1,330
$1,330
$1,330
$1,330
$1,330
$1,650
$1,650
$1,650
$1,650
$1,650
$1,650
$11,970
90.00%
$11,970
90.00%
$11,970
90.00%
$11,970
90.00%
$11,970
90.00%
$11,970
90.00%
$14,850
90.00%
$14,850
90.00%
$14,850
90.00%
$14,850
90.00%
$14,850
90.00%
$14,850
90.00%
$7,200
$7,200
$7,200
$7,200
$7,200
$7,200
$8,350
$8,350
$8,350
$8,350
$8,350
$8,350
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$500
$166
$500
$166
$500
$166
$500
$166
$500
$166
$500
$166
$500
$166
$500
$166
$500
$166
$500
$166
$500
$166
$500
$166
$500
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$400
$600
$2,000
$1,080
$1,080
$1,080
$1,080
$1,080
$1,080
$1,253
$1,253
$1,253
$1,253
$1,253
$1,253
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$12,446
$12,446
$12,446
$12,446
$12,446
$12,446
$13,769
$13,769
$13,769
$13,769
$13,769
$13,769
($476)
($476)
($476)
($476)
($476)
($476)
$1,082
$1,082
$1,082
$1,082
$1,082
$1,082
EBITDA
Interest Expense
($310)
$165
($310)
$164
($310)
$162
($310)
$161
($310)
$160
($310)
$158
$1,248
$157
$1,248
$156
$1,248
$154
$1,248
$153
$1,248
$151
$1,248
$150
Taxes Incurred
($192)
($192)
($192)
($191)
($191)
($190)
$277
$278
$278
$279
$279
$279
($449)
-3.38%
($448)
-3.37%
($447)
-3.36%
($446)
-3.35%
($445)
-3.35%
($444)
-3.34%
$647
3.92%
$648
3.93%
$649
3.93%
$650
3.94%
$651
3.95%
$652
3.95%
Expenses
Payroll
Sales and Marketing and Other
Expenses
Depreciation
Leased Equipment
Utilities
Insurance
Rent
Payroll Taxes
Other
Total Operating Expenses
Net Profit
Net Profit/Sales
15%
Page 4
Appendix
Table: Cash Flow
Pro Forma Cash Flow
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$11,970
$0
$11,970
$44
$11,970
$1,330
$11,970
$1,330
$11,970
$1,330
$11,970
$1,330
$14,850
$1,330
$14,850
$1,341
$14,850
$1,650
$14,850
$1,650
$14,850
$1,650
$14,850
$1,650
$11,970
$12,014
$13,300
$13,300
$13,300
$13,300
$16,180
$16,191
$16,500
$16,500
$16,500
$16,500
Cash Received
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
0.00%
$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
$11,970
$0
$12,014
$0
$13,300
$0
$13,300
$0
$13,300
$0
$13,300
$0
$16,180
$0
$16,191
$0
$16,500
$0
$16,500
$0
$16,500
$0
$16,500
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
Cash Spending
Bill Payments
$7,200
$262
$7,200
$7,797
$7,200
$6,382
$7,200
$6,381
$7,200
$6,380
$7,200
$6,379
$8,350
$6,422
$8,350
$7,677
$8,350
$7,336
$8,350
$7,335
$8,350
$7,334
$8,350
$7,333
$7,462
$14,997
$13,582
$13,581
$13,580
$13,579
$14,772
$16,027
$15,686
$15,685
$15,684
$15,683
$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
$167
$167
$167
$167
$167
$167
$167
$167
$167
$167
$167
$167
$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
$7,628
$15,164
$13,749
$13,748
$13,747
$13,746
$14,938
$16,194
$15,852
$15,852
$15,851
$15,850
$4,342
($3,149)
($449)
($448)
($447)
($446)
$1,242
($3)
$648
$648
$649
$650
Cash Balance
$7,242
$4,092
$3,644
$3,196
$2,750
$2,304
$3,546
$3,543
$4,190
$4,839
$5,488
$6,138
Page 5
Appendix
Table: Balance Sheet
Pro Forma Balance Sheet
Assets
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Starting Balances
Current Assets
Cash
Accounts Receivable
$2,900
$0
$7,242
$1,330
$4,092
$2,616
$3,644
$2,616
$3,196
$2,616
$2,750
$2,616
$2,304
$2,616
$3,546
$2,936
$3,543
$3,245
$4,190
$3,245
$4,839
$3,245
$5,488
$3,245
$6,138
$3,245
Inventory
Other Current Assets
Total Current Assets
$0
$0
$2,900
$1,463
$0
$10,035
$1,463
$0
$8,171
$1,463
$0
$7,722
$1,463
$0
$7,275
$1,463
$0
$6,828
$1,463
$0
$6,383
$1,815
$0
$8,296
$1,815
$0
$8,603
$1,815
$0
$9,250
$1,815
$0
$9,899
$1,815
$0
$10,548
$1,815
$0
$11,198
Long-term Assets
Long-term Assets
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
$20,000
Accumulated Depreciation
Total Long-term Assets
$0
$20,000
$166
$19,834
$332
$19,668
$498
$19,502
$664
$19,336
$830
$19,170
$996
$19,004
$1,162
$18,838
$1,328
$18,672
$1,494
$18,506
$1,660
$18,340
$1,826
$18,174
$1,992
$18,008
Total Assets
$22,900
$29,869
$27,839
$27,224
$26,611
$25,998
$25,387
$27,134
$27,275
$27,756
$28,239
$28,722
$29,206
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$0
$0
$7,584
$0
$6,169
$0
$6,168
$0
$6,167
$0
$6,166
$0
$6,165
$0
$7,433
$0
$7,091
$0
$7,090
$0
$7,089
$0
$7,088
$0
$7,088
$0
$0
$0
$0
$7,584
$0
$6,169
$0
$6,168
$0
$6,167
$0
$6,166
$0
$6,165
$0
$7,433
$0
$7,091
$0
$7,090
$0
$7,089
$0
$7,088
$0
$7,088
Long-term Liabilities
$20,000
$19,833
$19,667
$19,500
$19,333
$19,167
$19,000
$18,833
$18,667
$18,500
$18,333
$18,167
$18,000
Total Liabilities
$20,000
$27,418
$25,836
$25,668
$25,501
$25,333
$25,165
$26,266
$25,758
$25,590
$25,423
$25,255
$25,088
Paid-in Capital
Retained Earnings
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$12,000
($9,100)
$1,219
Earnings
Total Capital
Total Liabilities and Capital
Net Worth
$0
($449)
($897)
($1,344)
($1,790)
($2,235)
($2,679)
($2,032)
($1,383)
($734)
($84)
$567
$2,900
$2,451
$2,003
$1,556
$1,110
$665
$221
$868
$1,517
$2,166
$2,816
$3,467
$4,119
$22,900
$29,869
$27,839
$27,224
$26,611
$25,998
$25,387
$27,134
$27,275
$27,756
$28,239
$28,722
$29,206
$2,900
$2,451
$2,003
$1,556
$1,110
$665
$221
$868
$1,517
$2,166
$2,816
$3,467
$4,119
Page 6