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Number of Passengers

100

150

200

250

250

Price per each Passenger

60

60

60

60

60

Payment of Passengers for (in


Month)

10

10

10

10

10

Driver Salary

300

300

300

300

300

Driver Salary

12

12

12

12

12

2015

2016

2017

2018

2019

Payment duration for Drivers


(Month)
YEAR
Revenue

60,000

90,000

120,000

150,000

150,000

7,200

7,200

7,200

10,800

10,800

18,000

27,000

36,000

45,000

54,000

Maintenance

1,500

1,500

1,500

2,250

2,250

Miselenious

1,000

1,000

1,000

1,000

1,000

Depreciation

5,000

5,000

5,000

7,500

7,500

EBIT

27,300

48,300

69,300

83,450

74,450

TAX

5,460

9,660

13,860

16,690

14,890

21,840

38,640

55,440

66,760

59,560

30,000

NWC

5,000

2,500

2,500

1,000

1,000

FCF

21,840

41,140

57,940

43,260

66,060

19,854.55

34,000.00

43,531.18

29,547.16

41,018.06

Expenses
Driver Wage
Fuel

Net Income
CAPEX

PV

300

300

300

300

300

300

60

66

66

66

66

66

10

10

10

10

10

10

300

300

300

300

300

300

12

12

12

12

12

12

2020

2021

2022

2023

2024

2025

180,000

198,000

198,000

198,000

198,000

198,000

10,800

10,800

10,800

10,800

10,800

10,800

63,000

72,000

81,000

90,000

99,000

108,000

2,250

2,250

2,250

2,250

2,250

2,250

1,000

1,000

1,000

1,000

1,000

1,000

7,500

7,500

7,500

7,500

7,500

7,500

95,450

104,450

95,450

86,450

77,450

68,450

19,090

20,890

19,090

17,290

15,490

13,690

76,360

83,560

76,360

69,160

61,960

54,760

1,000

1,000

1,000

1,000

1,000

1,000

82,860

90,060

82,860

75,660

68,460

61,260

46,772.31

46,215.02

38,654.80

32,087.23

26,394.29

21,471.26

2015
100
60000
7200
18000
1500
1000
5000
32700

Students
Revenue
Salary Costs
Fuel Costs
Maintenance Costs
Miscellaneous
Depreciation
Total Operating Expenses
EBIT/ Operating Income
Interest
Earning before Taxes
Tax

2016
150
90000
7200
27000
1500
1000
5000

2017
200
120000
7200
36000
1500
1000
5000

2018
250
150000
10800
45000
2250
1000
7500

2019
300
180000
10800
54000
2250
1000
7500

5000
2500
7500

5000
2500
7500

Tax
Assumption
Depreciation Schedule
Net Working Capital
Net Working Capital

CAPEX 1
Salvage Value
Depreciation Amount
Useful life in years
Depreciation per year
CAPEX 2
Salvage Value
Depreciation Amount
Useful life in years
Depreciation per year

60000
10000
50000
10
5000
30000
5000
25000
10
2500

Depreciation 1
Depreciation 2
Total Depreciation

5000

5000

5000

5000

5000

5000

Starting Book value


Depreciation
CAPEX
Ending Book value

60000
5000
0

2020
350
210000
10800
63000
2250
1000
7500

2021
350
210000
10800
63000
2250
1000
7500

2022
350
231000
10800
63000
2250
1000
7500

2023
350
254100
10800
63000
2250
1000
7500

2024
350
279510
10800
63000
2250
1000
7500

5000
2500
7500

5000
2500
7500

5000
2500
7500

5000
2500
7500

5000
2500
7500

CAPEX/ Store
1st Year Sales

90000
50000
33%

Operating Exp
Rent / Month
Salaries
Utilities /month
ADMIN / year (4000/50000)
Depreciation
TAX 20%
YR 2
YR 3
YR 4

1500
300 * 3 people/ Store
400
4000
9000

100000
170000
203000

YR 5 New Store
300000
GM 1%/YR ( Means 34 %)
Inventory in YR 1 is (20% of Sales)
Inventory stays constant as % of Sales
Change in NWC in YR 1
Change in NWC in YR 2

YR 6- 8 10% Sales increase per. Year


YR 9-10 5% increase

10000
10000
10000

Year 1
Revenue from Sales of Goods/Services
Other Operating Income
Financial Income
CoGS
Gross Profit
Salary Expenses
Rent
Utilities
ADMIN
Total Expenses
Depreciation & Amortization
EBIT
Total Interest Expense
EBT
Taxes
Net Income / EBIAT
Stores
Sales
Increase in sales (%) / year
Total Sales per year
Gross Margin Percentage of Sales
Gross Margin Amount
CoGS

Expenses / Year
Number of Stores
Rent per year
Employee Salary per year
Number of Employees
Utilities per year
Operating duration (Months)
ADMIN per year
Total Expenses

Depreciation
CAPEX
Depreciation Amount
Useful life in years
Depreciation per year
Total Depreciation Per Year

$
$
$
$

$
$
$
$

Year 2

Year 3

Year 4

50,000
50,000 $
33,500

100,000
100,000 $
67,000

170,000
170,000 $
113,900

203,000
203,000
136,010

16,500 $
(10,800)
(18,000)
(4,800)
(4,000)
(37,600) $

33,000 $
(10,800)
(18,000)
(4,800)
12,000
(21,600) $

56,100 $
(10,800)
(18,000)
(4,800)
17,600
(16,000) $

66,990
(10,800)
(18,000)
(4,800)
20,240
(13,360)

(9,000)
(30,100) $
(30,100) $
(30,100) $

(9,000)
2,400 $
2,400 $
(20,000)
22,400 $

(9,000)
31,100 $
31,100 $
(34,000)
65,100 $

(9,000)
44,630
44,630
(40,600)
85,230

1
100,000
0%
100,000
33%
33,000
67,000

1
170,000
0%
170,000
33%
56,100
113,900

$
$

1
203,000
0%
203,000
33%
66,990
136,010

1
50,000
0%
50,000
33%
16,500
33,500

$
$
$
$

$
$
$
$

$
$

1
(18,000)
(10,800)
3
(4,800)
12
(4,000)
(37,600) $

1
(18,000)
(10,800)
3
(4,800)
12
12,000
(21,600) $

1
(18,000)
(10,800)
3
(4,800)
12
17,600
(16,000) $

1
(18,000)
(10,800)
3
(4,800)
12
20,240
(13,360)

90,000
90,000
10
9,000
(9,000) $

90,000
90,000
10
9,000
(9,000) $

90,000
90,000
10
9,000
(9,000) $

90,000
90,000
10
9,000
(9,000)

TAX
TAX percentage /year
Applicable tax amount
Total Tax Expenses
Inventory
Inventory percentage of sales
Sales
Inventory
FCF
EBIAT
+Dep
-CAPEX
-Change In NWC
FCF

Sales Growth Y-o-Y


EBIT Growht Y-o-Y
NI Growth Y-o-Y
Operating Margin
NI Margin
Operating cost as % of sales

0%
50,000
$

20%
100,000
(20,000) $

20%
170,000
(34,000) $

20%
203,000
(40,600)

$
$

20%
50,000 $
10,000 $

20%
100,000 $
20,000 $

20%
170,000 $
34,000 $

20%
203,000
40,600

(30,100)
(9,000)
90,000
10,000
(139,100) $

22,400
(9,000)
90,000
14,000
(90,600) $

65,100
(9,000)
90,000
6,600
(40,500) $

85,230
(9,000)
90,000
79,400
(93,170)

100%
100%
100%
-60%
-60%
-75%

50%
1354%
234%
22%
22%
-22%

41%
92%
66%
38%
38%
-9%

16%
30%
24%
42%
42%
-7%

Year 5

Year 6

Year 7

Year 8

Year 9

Year 10

600,000
600,000 $
396,000

660,000
660,000 $
429,000

726,000
726,000 $
464,640

798,600
798,600 $
503,118

838,530
838,530 $
519,889

880,457
880,457
537,078

204,000 $
(21,600)
(36,000)
(4,800)
52,000
(10,400) $

231,000 $
(21,600)
(36,000)
(4,800)
56,800
(5,600) $

261,360 $
(21,600)
(36,000)
(4,800)
62,080
(320) $

295,482 $
(21,600)
(36,000)
(4,800)
67,888
5,488 $

318,641 $
(21,600)
(36,000)
(4,800)
71,082
8,682 $

343,378
(21,600)
(36,000)
(4,800)
74,437
12,037

(18,000)
175,600 $
175,600 $
(120,000)
295,600 $

(18,000)
207,400 $
207,400 $
(132,000)
339,400 $

(18,000)
243,040 $
243,040 $
(145,200)
388,240 $

(18,000)
282,970 $
282,970 $
(159,720)
442,690 $

(18,000)
309,324 $
309,324 $
(167,706)
477,030 $

(18,000)
337,415
337,415
(176,091)
513,506

$
$

2
300,000
0%
600,000
34%
204,000
396,000

2
330,000
10%
660,000
35%
231,000
429,000

2
363,000
10%
726,000
36%
261,360
464,640

2
399,300
10%
798,600
37%
295,482
503,118

2
419,265
5%
838,530
38%
318,641
519,889

$
$

2
440,228
5%
880,457
39%
343,378
537,078

2
(36,000)
(21,600)
6
(4,800)
12
52,000
(10,400) $

2
(36,000)
(21,600)
6
(4,800)
12
56,800
(5,600) $

2
(36,000)
(21,600)
6
(4,800)
12
62,080
(320) $

2
(36,000)
(21,600)
6
(4,800)
12
67,888
5,488 $

2
(36,000)
(21,600)
6
(4,800)
12
71,082
8,682 $

2
(36,000)
(21,600)
6
(4,800)
12
74,437
12,037

180,000
180,000
10
18,000
(18,000) $

180,000
180,000
10
18,000
(18,000) $

180,000
180,000
10
18,000
(18,000) $

180,000
180,000
10
18,000
(18,000) $

180,000
180,000
10
18,000
(18,000) $

180,000
180,000
10
18,000
(18,000)

$
$
$
$

$
$

$
$
$
$

$
$
$
$

$
$
$
$

$
$
$
$

$
$

20%
600,000
(120,000) $

20%
660,000
(132,000) $

20%
726,000
(145,200) $

20%
798,600
(159,720) $

20%
838,530
(167,706) $

20%
880,457
(176,091)

$
$

20%
600,000 $
120,000 $

20%
660,000 $
132,000 $

20%
726,000 $
145,200 $

20%
798,600 $
159,720 $

20%
838,530 $
167,706 $

20%
880,457
176,091

295,600
(18,000)
180,000
12,000
85,600 $

339,400
(18,000)
180,000
13,200
128,200 $

388,240
(18,000)
180,000
14,520
175,720 $

442,690
(18,000)
180,000
7,986
236,704 $

477,030
(18,000)
180,000
8,385
270,645 $

513,506
(18,000)
180,000
(176,091)
491,597

66%
75%
71%
49%
49%
-2%

9%
15%
13%
51%
51%
-1%

9%
15%
13%
53%
53%
0%

9%
14%
12%
55%
55%
1%

5%
9%
7%
57%
57%
1%

5%
8%
7%
58%
58%
1%