TABLE of CONTENTS

Executive Summary
Business Rationale 1
About the Business
Company Overview 2
Mission Statement 2
Organization chart 3
Planning 3
Organizing 3
Directing 3
Controlling 3-4
SWOT Analysis 4

External Environment
Current Economic Conditions 5
Industry Analysis 5-6
Real World Analysis 6
Virtual World Analysis 6
Competitive Analysis 6-7

Marketing Plan
Market Segmentation 8-9
Target Market 8-9
Marketing Mix
Product 9
Price 9-10
Placement 10
Promotion 10
Positioning 10-11
Distribution 11
Outreach 11
Business Risks 11-12

Financial Planning
Break-even Analysis 13-14
Sales Projection Summary 15
Profit and Loss Statement 15-16
Balance Sheet 16-17

Appendix
Loan Amortization Schedule
Bank Balance Screenshot
Angel Investor Letter of Support
Non-VE Sales Contract
Seal of Approval Letter
 EXECUTIVE SUMMARY

Since 2014, there has been an 890% increase in the subscription product market, 34% of which is
populated by food delivery corporations. SnakPax was designed to join a thriving market but
appeal to two facets of consumers that other food subscription companies do not target: snacking
convenience and community outreach.

At the center of SnakPax’s brand promise is convenience. The company seeks to make the
familiar struggle of making grocery store runs to restock the pantry obsolete for the 94% of
Americans that snack on a daily basis (Snacking Motivations and Attitudes 2015). With a
SnakPax subscription, customers receive the perfect amount of their favorite snacks twice a
month, ensuring that snacking temptations are never disturbed by a lack of supply. To do this,
SnakPax offers a variety of unique pricing and sizing options in its product line to appeal to all
types of audiences. Ranging its product line from a one-person “solo” to a group sized “squad”, a
SnakPax subscription can cover everything from an isolated late night study session to a college
dorm with multiple friends. The company also offers seasonal flavors and a “party” size for
one-time purchase.

From its inception, a central goal of SnakPax LLC was to contribute to efforts to end world
hunger. According to Feeding America’s Map of the Meal Gap, 10% of New Jersey residents did
not have an adequate, consistent supply of food as of 2016. That number rises for children to
13.5%. As a start-up company, SnakPax currently focuses on giving back to the community at a
local level in its home state of New Jersey. For every subscription or order the company receives,
it donates a “solo” unit to the Center for Food Action of New Jersey, a nonprofit charity
organization that aims to give families in poverty a new start by removing the burden of
worrying about paying for meals. Social responsibility is at the center of SnakPax’s identity as a
firm, as evident in its motto: “Buy a pack, share a snack”. As the company continues to grow, it
intends to prioritize investing into expansion of its charity efforts. Eventually, the company
hopes to partner with national non-profits, double its donation sizes, and lower hunger across the
United States in addition to New Jersey.

Adding to its community efforts, the management at SnakPax also recognizes the importance of
promoting a socially responsible culture amongst the company’s employees. Therefore, SnakPax
employees are given hours off of work every Friday to go and contribute to the invaluable,
impactful efforts of the Center for Food Action, preparing deliveries and handing out food to
families in need.

SnakPax began operating on October 26th, 2018. It claimed to be a limited-liability company

(LLC) and started with a loan of $150,000 (See page 19). SnakPax chose a LLC structure in
order to manage the risks associated with a start-up company. With limited-liability, the personal
assets of employees and management were protected from the potential debt caused by high
start-up costs. With the loan, we opened our storefront in Parsippany, New Jersey. The
storefront markets the product line while simultaneously attracting attention among locals
passionate about our sustainable cause. With the increasingly successful sales of snacks,
SnakPak plans to break even at $89,000. An early contribution by our first angel investor
boosted our funds by $50,000 (See Page 19).

Our sales department predicts about $590,000 in revenue by April 30, 2019. With about
$220,000 for the costs of the goods, we anticipate $370,000 in gross sales this fiscal year from
participation in 3 trade shows, a state-of-the art website and out-of-network sales. With $70,000
in operating expenses, we predict a net income of $300,000 by the end of the fiscal year.

Overall, SnakPax LLC is in a prime position to succeed as a new subscription service in the
Virtual Enterprise market. It is backed by proven success of the subscription industry, tailors a
unique product to a vast and diverse consumer base, and helps alleviate hunger in New Jersey
through its community efforts. As CEO, I am proud to see how much progress the company has
made since its birth three months ago and look forward to a bright, hunger-free, and snack-filled
future.

Sincerely,
Tirth A. Patel
Chief Executive Officer of SnakPax LLC
 BUSINESS RATIONALE

SnakPax seeks to aid busy people with easy snacking.​ ​Our business has a specialized audience
and can help them. SnakPax will help with efficiency in saving time on retrieving snacks and
help people stay on a budget with our affordable options. Forbes recorded an 890% increase in
market growth in subscription box services. Our business seeks to capitalize on this growing
industry and provide a service that appeals to more consumers. Forbes also recorded that of the
18.5 million subscription box shoppers in the United States, most are millennials. For this reason,
we noticed it would be most advantageous for our company if our target market includes
millennials.

With our target market in mind, we have aimed to make the pricing very affordable. To solve the
problem of a variety of people wanting snacks, there is a variety of subscription options - solo,
duo, squad, seasonal, and party. Also, customers may choose a catered selection of options
according to preferences or dietary restrictions. Due to this, we have incorporated a selection
method to choose which snacks you would like to have in your SnakPax box. Finally, consumers
may be wondering what truly separates us from any other snack subscription service. Instead of
simply giving monetary donations, with every new subscription, SnakPax vows to donate a
SnakPax box to the Center for Food Action of New Jersey. Together, we can bring our
community together.

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 ABOUT THE BUSINESS

Company Overview
We at SnakPax donate to the people who are in need. Our slogan is: “buy a pack, share a snack”.
We have five product lines- Solo, Duo, Squad, Seasonal, and Party. We have different themes for
different seasons. Each package comes with a different theme depending on the season or the
subscription customer buys. For each subscription we receive, we donate a solo. Giving back is
Snak Pax’s major goal. Snak Pax is also convenient for customers since it’s delivered to them.
The firm was established in Parsippany, NJ in September 2018. SnakPax chose a limited liability
company format in order to protect members from the responsibility of business debts and
liabilities. This way, creditors could not pursue employees’ personal assets to pay business debts.
An LLC structure also brings tax advantages, as the company could now adopt the tax status of
sole proprietorships, partnerships, S corporations, or C corporations as it saw necessary. Offices
and manufacturing facilities are located at 20 Rita Drive, Parsippany, NJ 07054.

Mission Statement
At SnakPax, we aim to make snacking convenient and fun for our customer base at affordable
prices. Gone are the days of interrupting everyday life to make snack runs to the grocery store;
with SnakPax, we bring the snacks right to you! SnakPax also plays an active role in giving back
to the community by donating a SnakPax unit for every subscription we receive - buy a pack,
share a snack.

Organization
SnaxPax was founded using a traditional company hierarchy organizational system, as seen in
real-world corporations. At the top, we have the Chief Executive Officer (CEO), who oversees
the marketing and sales department and coordinates between the company as a whole. The Chief
Financial Officer (CFO) is in charge of managing and compiling the company’s financial data
and oversees the accounting department. The last position at the chief level is the Chief
Administrative Officer (CAO), who is in charge of all customer service related issues and
handles internal employee-related conflicts and communications with potential sales. One level
below the Chiefs are the Vice Presidents, broken down into different departments. The Vice
President of Administration sets goals, objectives, and strategies for the administration
department who reports directly to the CAO. The Vice President of Accounting is responsible for
managing banking activities. The Vice President of Sales is in charge of all customer relations.
The Vice President of Marketing is in charge to create all the flyers, brochures and
advertisements. The Vice President of Human Resources is in charge of employee relations and

2
setting the rules of the office. The Vice President of IT and Design is in charge of managing the
company website and designing the aesthetics of the business plan.

Organizational Chart

Directing:
The CEO sets the standards for success. All department heads have specific tasks assigned in
order for it to run quintessentially. The facilitator has put a lot of effort into the hiring procedure,
creating an organizational structure that works based on the idea of collaboration. Work is
completed efficiently and successfully. Each department has a specific job to fulfill before the
product leaves the facility in order for all employees to feel a sense of ownership and
contribution.

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Controlling:
Snax Pax has specific duties assigned to each department, so every employee has something
different to complete. The duties are split up and organized into weekly task assignment sheets,
which each employee receives on Monday. Our company completes quarterly evaluations of
each department to track their progress. Company evaluations are done by the chief officers and
facilitator. Before a product is shipped, a quality check is done to ensure that the outgoing
SnakPax item meets the standards of the company.

SWOT ANALYSIS
Strengths
● Work force
○ We have 21 talented
employees with many different
skills at Snakpax LLC.
● Our box production
○ Biodegradable box
○ Innovative for snack
protection, and fit
● Our Positive Work Environment
○ Employee of the month awards
○ Employee volunteer
hours/opportunities
Weakness
● Cost
○ The cost of our product is high
to be able to make a profit.
● Subscription Services
○ Large amounts of inventory
needed to fill boxes each
month
● Experience
○ Business start-up

Opportunities Threats
● People have more of a desire to give ● Economic Changes
back ○ Limit Disposable Income
● Potential partnership with shipping or ● Shortage of eco-friendly materials
food firms as many are located in the ○ Natural disasters
Northeast ● Competitors with similar products in
● Society is in the market for similar areas
convenience, and use of technology
● Trade shows will give us the abiltiy to
sell directly to our Primary Target
Market

4
 EXTERNAL ENVIRONMENT

Current Economic Conditions

According to the United States Bureau of Labor Statistics, the United States unemployment rate
is 3.7% as of October 2018.
Indicator Change Over Time

U.S. Unemployment Level Decreased 1.2%

U.S. Disposable Personal Income Increased 0.8%

U.S. Inflation Rates Increased 2.4%

*All are within the 2015-2017 time frame, source Bureau of Labor Statistics

The snack subscription market has very few competitors, paving the way for SnakPax to take a
prevalent role. This industry is primarily a want-based market, meaning customers do not
necessarily need this product; however, SnakPax strives to supply a pack to everyone that wants
one. Over the past two years, the U.S. unemployment level has decreased 1.2% and the U.S.
disposable income has increased 0.8%. This allows for more money in our customer’s pockets
which can be spent on SnakPax. The consumer’s purchasing power in recent years has remained
constant and at times stagnant. Although people are being cautious with spending habits, the firm
believes that consumers will still buy SnakPax’s products because of the efficiency, pricing, and
generous cause!

Real Industry Analysis

The market for snack subscription services dates back to the 1960’s where people would pay to
have the newspaper delivered to their front doors. Now, more than ever, there is an abundance of
boxes and subscriptions in the categories of food, lifestyle, beauty etc. The snack market in
particular consists of a box being delivered to the customers residence containing a variety of
different snacks and food products. Subscription businesses are seeing substantial growth in
today's market, as around 37 million users visited a subscription website in 2017 alone (Forbes).
Such success is because of consumer habits, since now it is not the particular goods that are
important, but the easy accessibility to required goods and services. Subscription services make
it easy for consumers to get goods right at their doorstep, and as a result there is an increase in
the interest of such a service. The 37 million users that have visited subscription sites has grown

5
800% since 2014, showing substantial growth over the past couple years in the e-commerce
subscription business. In such markets, below are the top subscription companies and the
number of visits to their page. (Source Forbes)

Within the subscription services as a whole, this is the breakdown within each category. In
general, the e-commerce business makes 2.6 billion dollars a year as of 2016. While the
subscription service is raising in popularity, no other subscription specifically delivers snacks
each month like SnakPax. Overall, we are joining a thriving industry with a unique product.

Virtual Industry Analysis

Subscription services of all kinds are scarce in the virtual world, with only 12 businesses
currently offering a subscription based service. With around 4,840 international businesses in the
virtual network, subscription services make up about 0.2% of the total firm population. In the
US, there are around 640 firms, so subscription services make up a slightly higher percentage of
1.8%.

Competitive Analysis
There are 7 virtual businesses offering food based subscription services including T. Merchants,
MOBO, Outside The Box, Appy Hour, iSupply, Deja Brew, and Empire Crates. Of these 6, only
MOBO, Outside The Box, Appy Hour, iSupply and Empire Crates offer snack subscription
boxes, and only iSupply is an exclusively snack based company. MOBO, Empire Crates and
Outside The Box offer subscription boxes other than snacks, such as movie and entertainment
packages. iSupply advertises an exotic snack package that includes snacks from all over the
world, which differs from SnakPax’s American-based snack system. No subscription service
firms have been a part of the top 6 in the business plan competition in the past two years.

6
However, with 12 subscription based services this year, a firm offering a subscription has a 1.6%
chance of making it to the top 6 in the nation. In New Jersey, there are only 40 firms, and out of
those firms, only Appy Hour and SnakPax offer subscription based food services, so a
subscription service has a 5% chance of making it to the top 6 in the state.

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 MARKETING PLAN

Target Market/Market Segmentation

SnakPax has segmented the snack subscription service market into three levels: primary,
secondary, and tertiary. The firm further categorized these levels according to demographic,
geographic and psychographic identities. The following table displays the segmentation of the
market:

Market Demographic Geographic Psychographic

Primary The firm targets other SnakPax’ wishes to The convenience of our
VEI students who will reach a national market product will be
be interested in through our online appealing to high
purchasing our presence. The VEI school and college
subscription. portal, our website, and students who are
In addition, Generation social media will help inclined for a quick
Z. Specifically college us connect to VEI easy snack to fit their
aged students who can students over the entire busy lifestyle. They are
see the value and country. also more likely to use
convenience of our technology and enter
subscription. the e-commerce
subscription service.

Secondary The average consumer We wish to serve those The firm targets
for subscription boxes in the North East, consumers interested
is a late millennial ages where our headquarters in philanthropy, and
20-30, has a college are located, as millennials have been
degree, altruistic, traditionally it is a very consistently
female, makes more fast paced environment. showcasing the
than 100k per year, and It is where people will importance of charity.
has children around look for the Specifically, online
3-5. convenience of our social giving, which is
service. SnakPax foundation.

Tertiary Our last focus is We would also target Many people from ages
Xenialls they range in the North East for the 33-43 have children
ages from 33-43, and Xennials, as again it is and also have to work,
many of which have a fast paced so they are on-the go
kids. They see the environment, and our and won’t have enough
value in our product for headquarters is time to make a snack or
themselves as well as conveniently able to lunch for themselves or
their dependents. expanded to this area. their children.

8
Marketing Mix
Product
Our product at SnakPaxs LLC. is a subscription box of snacks. We offer a multitude of different
snacks in each size box including sweet, healthy, salty, spicy, snacks. Each of the snacks in a
pack is approximately 1.5- 3 ounces ( typical “snack size”).
Item Bi-Monthly

Solo Box 6 snacks per pack

Duo Box 14 snacks per pack

Squad 30 snacks per pack

Seasonal 6 snacks per pack

Item One-Time Purchase

Party Box 60 snacks

Pricing
As a company, our cost covers our eco-friendly boxes, the multitude of snacks received in each
pack, and our commitment to give back.

Item Price Per Month (Includes 2 Boxes)

Solo Box $15.99

Duo Box $31.99

Squad $63.99

Seasonal $63.99

Item One-Time Purchase

Party Box $64.99

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Our prices are all cost-based, and while our prices seem expensive for snacks it is the price for
our convenience, outreach program, and our overall quality customer experience. For example,
the average price per unit of the fruit and nut snack category in U.S. retail stores in 2017, by
segment (in U.S. dollars), was $4.58. Our SnakPax bring the cost of snacks down from $4.58
each, to only $1.33 each in the Solo, $1.14 in the Duo, and $1.06 in the Squad. This will save our
customers a total of $472.32 annually with a solo box, $1,155.84 annually with a duo box, and
$1,267.08 annually with a squad box. In choosing to support our company we go beyond just
snacks, and each SnakPax is a step toward a better future.

Placement
SnakPax will make the majority of sales through our website, with additional sales coming from
the trade show, and email solicitations. A recurring monthly subscription price will be the easiest
way to make a profit. The product will be sent through UPS, which we will pay on a monthly
basis based on how many sales we receive. Our business also advertises a program to send
SnakPax to children in underprivileged areas for every first-time subscriber. Delivery for these
SnakPax will also be sent through a virtual shipping company once every month.

Promotion
SnakPax will be using a mix of marketing and sales team labor resources and capital to promote
our business. Our marketing and sales team will use Instagram ads to promote our product to
users who have previously searched for snack subscription services, snacking and other snack
related terms. This social media platform specifically will present our service to a wider range of
VE firms where we can get in contact with them via direct messaging. We can thus interact and
network through these social media accounts to create personal connections with other firms and
increase the likelihood of a recurring customer. We also have a Facebook account to help target
the Xennials generation, as it is their most used form of social media. Thus we can promote our
product and encourage them to either buy for themselves or as a gift for their kids. Lastly, our
twitter account allows us send out quick easy messages to help directly talk to our consumers.
Our social media lets us show glimpses into our company life and establish SnaxPak LLC. as not
just a product but a brand. To reach firms even more directly we will use blast emails to contact
other firms and get the word out about or new company.

Positioning
SnaxPak LLC. has competitors in the rising ecommerce subscription service. Companies like
Graze, Naturebox, Candy Club, etc. all offer a similar service of the convenience SnakPax prides
itself on. However, they are all snacks within a specific category ex). Candy, healthy, we offer a
multitude of different snacks all included in one pack. Graze sells their snacks as individual
wholesale, which makes the subscription contain less variety and their snacks are only limited to
the products who they create, where we operate multitude of different brands, and multiple
different sizes. Another example, is Candy Club, while they also give back to underprivileged

10
kids, they stick to specifically gummy candies, making them a very niche business. Unlike these
other companies are not a niche market and want to appeal to everyone. Overall, SnakPax is
able to offer a wide variety of product, and give back to charity in the process.

Distribution
SnakPax will distribute the product in the most cost-efficient and timely way possible. SnakPax
will offer worldwide shipping to all virtual business employees. The firm will partner with
USPS, as we have contacted them with a consultation coming to our lowest and most efficient
shipping prices. To ship each product to the intended customer. It would cost $6.85 for U.S.
shipping and $24.00 for international shipping. The shipping price is included in our cost and
our customers enjoy free shipping, excluding international shipping fees. The SnakPax delivered
to the underprivileged students will be delivered using local transportation such as drive and
drop-offs, or bus and train routes.

Outreach
SnakPax is going to give back to our community for every pack that is purchased. We plan on
donating to the organization, the Center for Food Action. The Center for Food Action provides
food and emergency services to New Jersey citizens currently living in poverty. Last year, the
CFA provided a total of 65,163 packages of food and services to people in need. For every initial
subscription, we plan to donate one of our own solo SnakPack to the CFA. In addition, we allow
all of our employees leave from work on fridays to volunteer at the Center for Food Action, and
be involved in our business outreach. Other companies have found success like Toms, Ben and
Jerry's through the selling of a story because a company can be so much more than just selling
product, but can make a difference in the world we are living in.

Business Risks
Any startup business experiences risk with launching their product, and making sure we follow
the plan we have established to succeed at SnaxPak LLC.

1) Not having money to pay our expenses

We have very limited funds considering we have not yet established ourselves. To even
get ourselves off the ground we needed to take out a small business loan, which is needed but not
ideal. Adding to that, we have a very talented group of employees working for us, which
stretches our resources even thinner. Part of our backbone as a business that gives back is our
commitment to give a pack to those in our community that are hungry. As a result, we need to
maximize every profit we make, and our business decisions need to be conscious of the fact that
we do not have many funds backing us. We also need to be proactive in terms of reaching out to
angel investors and ultimately marketing sales.
2) High price in return for community service
Our prices at SnakPax may seem higher than usual snacks, and as a results people may
see the initial price and not want to invest in our products. However, we will actively market and
promote our product, through our website, and social media, highlighting that the reason our

11
prices are higher is to cover many of the expenses required to give packs to those who are less
fortunate and need some food to eat. We also will continue to promote subscription snacks are
more practical in terms of peoples budgeting and not overbuying. If we can successfully convey
this to our consumers, then the initial price will be seen as not only for a unique product, but also
a charitable donation.

3) Shipping methods
We had initially entered the market with intentions of using a virtual shipping company
to ship our product through. Hover, we could not find one that fit our service need on the portal.
We ended up having to use UPS, which we came to a motley rice based on the needs of our
company in a conference call. While, UPS is slightly more expensive route it overall will most
effectively distribute our product to our consumers all over the country and specifically in the
North East.

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 FINANCIAL PLANNING

Break-Even Analysis
The purpose of a break-even analysis is to give a realistic projection of when the firm will begin
to make a profit. The current break-even point for SnakPax is ​ 24,800.00 ​ units, which equates to
$694,400.00​ in total revenue. The firm’s average sale price per pack is $28.00 and the average
cost of goods per sale is $6.75. As of November 2018 the firm has sold $508.80. To help reach
the firm’s desired break-even point, SnakPax utilized Virtual Enterprise International’s buy
buttons on their website and negotiated business contracts with non-Virtual Enterprise entities.
Taking advantage of this opportunity has allowed for the direct transaction of funds from the
consumer’s account to the firm’s account.
Break Even Analysis

Average selling price per sale $28.00

Average cost of goods sold per sale $6.75
Average profit rate 75.89%
Annual Fixed Cost $527,000.00

X Y Y Y Y
Variable
Units Sold Revenue Cost Fixed Cost Total Cost
100 $2,800.00 $675.00 $527,000.00 $527,675.00
600 $16,800.00 $4,050.00 $527,000.00 $531,050.00
1100 $30,800.00 $7,425.00 $527,000.00 $534,425.00
1600 $44,800.00 $10,800.00 $527,000.00 $537,800.00
2100 $58,800.00 $14,175.00 $527,000.00 $541,175.00
2600 $72,800.00 $17,550.00 $527,000.00 $544,550.00
3100 $86,800.00 $20,925.00 $527,000.00 $547,925.00
3600 $100,800.00 $24,300.00 $527,000.00 $551,300.00
4100 $114,800.00 $27,675.00 $527,000.00 $554,675.00
4600 $128,800.00 $31,050.00 $527,000.00 $558,050.00
5100 $142,800.00 $34,425.00 $527,000.00 $561,425.00
5600 $156,800.00 $37,800.00 $527,000.00 $564,800.00
6100 $170,800.00 $41,175.00 $527,000.00 $568,175.00
6600 $184,800.00 $44,550.00 $527,000.00 $571,550.00
7100 $198,800.00 $47,925.00 $527,000.00 $574,925.00
7600 $212,800.00 $51,300.00 $527,000.00 $578,300.00

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 8100 $226,800.00 $54,675.00 $527,000.00 $581,675.00
8600 $240,800.00 $58,050.00 $527,000.00 $585,050.00
9100 $254,800.00 $61,425.00 $527,000.00 $588,425.00
9600 $268,800.00 $64,800.00 $527,000.00 $591,800.00
10100 $282,800.00 $68,175.00 $527,000.00 $595,175.00
10600 $296,800.00 $71,550.00 $527,000.00 $598,550.00
11100 $310,800.00 $74,925.00 $527,000.00 $601,925.00

Break even
point in sales
dollars: =
Average selling price x Breakeven point in units
Total sales at break even = $694,400.00

Break even point in # of sales:

Break even point in units = Fixed costs/(Average selling price per unit - average variable cost
per unit)
Break even point in units = 24,800.00

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Sales Projection Summary

SnakPax LLC
Monthly Sales Projections
FY 2018-2019

Months
Actuals Actuals Actuals Actuals Actuals Actual Projected Projected Projected Projected Projected Projected
Sources
of Septem Novemb Decemb Februar
Revenue June July August ber October er er January y March April May Total
Online 318.38 32,189 32,189 32,189 32,189 32,189 32,189 193449.38
Tradesh
ow 50000 - 50000

Direct 2,000 2,000 2,000 2,000 2,000 2,000 12000

Out-of-
Network 0 75,771 75,771 75,771 75,771 75,771 75,771 378856.25

Other 0

Total 0 0 0 0 0 318.38 109,960 109,960 109,960 109,960 159,960 109,960 710076.88

Detailed Profit Loss Statement (Projected for the Year Ended 4/30/19)

SnakPak LLC
Detail Profit & Loss
For the Year Ending 4/30/2019

Total Revenue 710,076.88

Total Cost of Goods Sold 170,700.00

Total Gross Profit 539,376.88

Gross Margin % 76%

Expenses
Salaries 474,999.42
Rent 12,075.04
Utilities 3,584.64

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Insurance -
Matching Payroll Taxes 36,337.41
Office supplies -
Advertising -
Promotion -
Depreciation -
Loan Interest 3,783
Legal -
Total Operating Expenses 530,779.66

Net Income (Loss) 8,597.22

With four major expenses that will need to be covered by the end of the year, our company is
expected to make a total of $710,076.88 in revenue with $170,700 going into total cost of goods
sold. With this amount, a large portion of it will go towards expenses that need to be covered by
April 30th, 2019. Our expenses are heavily based on the salaries equaling a total of $474,999.42.
Secondly, $15,659.68 will be used for rent and utilities and $36,377.41 will be needed for
matching payroll taxes. With our expenses equaling a total of $526,996.51, we will have a net
income (loss) of 12,380.37.

Balance Sheet
The Balance Sheet provides the overview of the financial statements of SnakPax LLC. until
October 31, 2018. SnakPax LLC. started on September 6, 2018. Since then, our company has got
a $150,000 small business loan, in addition to our $20,000 start up fund. This adds up our assets
to $170,000. Because a small business loan was taken to start our company, there is a liability for
loan payable of $150,000. In the company’s owners equity, there is $20,000 from the start-up
fund. This adds up liabilities and owner’s equity to $170,000.

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17
 APPENDIX

Loan​​ amortization schedule  

Bank Balance Screenshot (As of October 31, 2018).
Angel Investor Letter of Support
Business Contract