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This sample business plan has been made available to users of Business Plan Pro, business planning software published by Palo Alto Software. Our sample plans were developed by existing companies or new business start-ups as research instruments to determine market viability or funding availability. Names, locations and numbers may have been changed, and substantial portions of text may have been omitted to preserve confidentiality and proprietary information. You are welcome to use this plan as a starting point to create your own, but you do not have permission to reproduce, publish, distribute or even copy this plan as it exists here. Requests for reprints, academic use, and other dissemination of this sample plan should be addressed to the marketing department of Palo Alto Software. Copyright Palo Alto Software, Inc., 1999-2002
Confidentiality Agreement
The undersigned reader acknowledges that the information provided by _________________________ in this business plan is confidential; therefore, reader agrees not to disclose it without the express written permission of _________________________. It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious harm or damage to _________________________. Upon request, this document is to be immediately returned to _________________________. ___________________ Signature ___________________ Name (typed or printed) ___________________ Date This is a business plan. It does not imply an offering of securities.
Table of Contents
1.0 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1 Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 Keys to Success . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Company Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.1 Company Ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.2 Start-up Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.3 Company Locations and Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.1 Service Description . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2 Competitive Comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.3 Sales Literature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.4 Technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.5 Future Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Market Analysis Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1 Market Segmentation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 Target Market Segment Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2.1 Market Needs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2.2 Market Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2.3 Market Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3 Service Business Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3.1 Business Participants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3.2 Competition and Buying Patterns . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3.3 Main Competitors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 2 3 3 3 3 5 5 5 6 6 6 6 7 7 8 8 8 9 9 9 9 10
2.0
3.0
4.0
5.0
Management Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 5.1 Organizational Structure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 5.2 Management Team . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Financial Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.1 Important Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.2 Sales Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.3 Break-even Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.4 Projected Profit and Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.5 Projected Cash Flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.6 Projected Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.7 Business Ratios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.8 Long-term Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 11 12 13 14 16 18 18 20
6.0
Highlights
$50,000 $40,000 $30,000
Sales
$20,000 $10,000 $0 ($10,000) 2000 2001 2002 2003 2004
1.1 Objectives
1. 2. 3. 4. Form a Limited Liability Corporation (LLC) for liability protection of personal and company assets. Acquire a Cessna 172 Skyhawk aircraft for rental and flight instruction. Operate the aircraft for at least 50 revenue flight hours per month. Aircraft revenue to exceed hangar, insurance, fuel, maintenance upkeep and loan expenses resulting in a net income/profit.
1.2 Mission
Lansing Aviation offers an affordable, professionally-maintained aircraft for rental and flight instruction. We will provide a safe and effective learning situation for our students while adhering to safe practice and to applicable federal and state aviation regulations. Lansing Aviation will provide students with an excellent aircraft for flight training and an aircraft to fly upon successful completion of their training.
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Start-up
$40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 Expenses Assets Investment Loans
3.0 Services
Lansing Aviation will provide students, instructors, and pilots with a well-maintained aircraft for individual rental and instruction. Additionally, we will provide professional and accurate aviation consulting.
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3.4 Technology
Lansing Aviation will maintain an updated Cessna 172 Skyhawk. 1. 2. 3. The aircraft will have at least two 720-channel radios for legal and practical navigation and communication purposes. The aircraft will have the required equipment and certification necessary to conduct instrument training and actual instrument flight. The aircraft will be continuously upgraded with M-GLAS Aviation Technology (M-GLASAT) avionics.
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3. 4.
Curious / Interested Future Pilots MAS Pilots, Friends, Neighbors Other Schools Unhappy Students Other Flights / Misc. Rentals
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Sales Monthly
$5,000 $4,500 $4,000 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
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Break-even Analysis
$3,000 $2,000 $1,000 $0 ($1,000) ($2,000) ($3,000) $0 $900 $1,800 $2,700 $3,600 $4,600
Table: Break-even Analysis Break-even Analysis: Monthly Units Break-even Monthly Revenue Break-even Assumptions: Average Per-Unit Revenue Average Per-Unit Variable Cost Estimated Monthly Fixed Cost 40 $2,623 $65.00 $0.25 $2,613
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$0 $0 $0 $0 $0 $1,700 $1,000 $1,000 $1,000 $1,000 -------------------------------------------------------$1,700 $1,000 $1,000 $1,000 $1,000 3.71% 2.14% 2.08% 2.27% 2.08% -------------------------------------------------------$30,730 $28,530 $28,530 $43,530 $28,530 $15,045 $18,270 $19,470 $470 $19,470 $3,042 $2,289 $1,728 $1,350 $972 $3,361 $4,475 $4,968 $0 $5,179 $8,642 $11,507 $12,774 ($880) $13,319 18.88% 24.59% 26.61% -2.00% 27.75% TRUE TRUE TRUE FALSE TRUE
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Cash
$4,000 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 ($500) Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
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$45,775 $0 $45,775 $0 $0 $0 $0 $0 $0 $0 $0 $45,775 2000 $3,713 $33,010 $36,723 $0 $0 $3,200 $0 $2,600 $0 $0 $0 $42,523 $3,252 $3,552
$46,800 $0 $46,800 $0 $0 $0 $0 $0 $0 $0 $0 $46,800 2001 $3,529 $31,784 $35,314 $0 $0 $3,650 $0 $3,780 $0 $0 $0 $42,744 $4,056 $7,608
$48,000 $0 $48,000 $0 $0 $0 $0 $0 $0 $0 $0 $48,000 2002 $3,523 $31,704 $35,227 $0 $0 $0 $0 $3,780 $0 $0 $0 $39,007 $8,993 $16,602
$44,000 $0 $44,000 $0 $0 $0 $0 $0 $0 $0 $0 $44,000 2003 $4,488 $40,286 $44,774 $0 $0 $0 $0 $3,780 $0 $0 $0 $48,554 ($4,554) $12,048
$48,000 $0 $48,000 $0 $0 $0 $0 $0 $0 $0 $0 $48,000 2004 $3,468 $31,326 $34,794 $0 $0 $0 $0 $3,780 $0 $0 $0 $38,574 $9,426 $21,474
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Appendix
Appendix Table: Personnel Personnel Plan Production Personnel Name or title Name or title Name or title Other Subtotal Sales and Marketing Personnel Name or title Name or title Name or title Other Subtotal General and Administrative Personnel Name or title Name or title Name or title Other Subtotal Other Personnel Name or title Name or title Name or title Other Subtotal Total People Total Payroll Dec $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Jan $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Feb $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Mar $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Apr $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 May $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Jun $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Jul $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Aug $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Sep $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Oct $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 Nov $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0
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Appendix
Appendix Table: General Assumptions General Assumptions Plan Month Current Interest Rate Long-term Interest Rate Tax Rate Other Calculated Totals Payroll Expense New Accounts Payable Dec 1 10.00% 10.00% 28.00% 0.00% $0 $326 Jan 2 10.00% 10.00% 28.00% 0.00% $0 $1,345 Feb 3 10.00% 10.00% 28.00% 0.00% $0 $2,530 Mar 4 10.00% 10.00% 28.00% 0.00% $0 $2,823 Apr 5 10.00% 10.00% 28.00% 0.00% $0 $2,855 May 6 10.00% 10.00% 28.00% 0.00% $0 $3,422 Jun 7 10.00% 10.00% 28.00% 0.00% $0 $3,095 Jul 8 10.00% 10.00% 28.00% 0.00% $0 $3,415 Aug 9 10.00% 10.00% 28.00% 0.00% $0 $3,409 Sep 10 10.00% 10.00% 28.00% 0.00% $0 $3,079 Oct 11 10.00% 10.00% 28.00% 0.00% $0 $4,048 Nov 12 10.00% 10.00% 28.00% 0.00% $0 $3,072
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Appendix
Appendix Table: Profit and Loss Pro Forma Profit and Loss Sales Direct Cost of Sales Production Payroll Other Total Cost of Sales Gross Margin Gross Margin % Operating Expenses: Sales and Marketing Expenses: Sales and Marketing Payroll Fixed Operation Costs Aircraft Upgrades Miscellaneous Total Sales and Marketing Expenses Sales and Marketing % General and Administrative Expenses: General and Administrative Payroll Sales and Marketing and Other Expenses Depreciation Leased Equipment Utilities Insurance Payroll Taxes Other General and Administrative Expenses Total General and Administrative Expenses General and Administrative % Other Expenses: Other Payroll Unforeseen Maintenance & Repairs Total Other Expenses Other % Total Operating Expenses Profit Before Interest and Taxes Interest Expense Taxes Incurred Net Profit Net Profit/Sales Include Negative Taxes 0% Dec $600 $0 $0 $0 -----------$0 $600 100.00% $0 $0 $0 $0 -----------$0 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $0 -----------$0 0.00% -----------$0 $600 $270 $92 $238 39.60% Jan $1,300 $0 $0 $0 -----------$0 $1,300 100.00% $0 $1,300 $0 $0 -----------$1,300 100.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $0 -----------$0 0.00% -----------$1,300 $0 $270 ($76) ($194) -14.95% Feb $2,600 $0 $0 $0 -----------$0 $2,600 100.00% $0 $2,623 $0 $0 -----------$2,623 100.88% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $0 -----------$0 0.00% -----------$2,623 ($23) $270 ($82) ($211) -8.11% Mar $3,250 $0 $0 $0 -----------$0 $3,250 100.00% $0 $2,623 $0 $0 -----------$2,623 80.71% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $200 -----------$200 6.15% -----------$2,823 $427 $270 $44 $113 3.48% Apr $3,900 $0 $0 $0 -----------$0 $3,900 100.00% $0 $2,623 $0 $0 -----------$2,623 67.26% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $0 -----------$0 0.00% -----------$2,623 $1,277 $267 $283 $727 18.65% May $4,875 $0 $0 $0 -----------$0 $4,875 100.00% $0 $2,623 $0 $0 -----------$2,623 53.81% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $500 -----------$500 10.26% -----------$3,123 $1,752 $262 $417 $1,073 22.01% Jun $4,875 $0 $0 $0 -----------$0 $4,875 100.00% $0 $2,623 $0 $0 -----------$2,623 53.81% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $0 -----------$0 0.00% -----------$2,623 $2,252 $257 $559 $1,437 29.47% Jul $4,875 $0 $0 $0 -----------$0 $4,875 100.00% $0 $2,623 $0 $0 -----------$2,623 53.81% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $500 -----------$500 10.26% -----------$3,123 $1,752 $252 $420 $1,080 22.16% Aug $4,875 $0 $0 $0 -----------$0 $4,875 100.00% $0 $2,623 $500 $0 -----------$3,123 64.06% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $0 -----------$0 0.00% -----------$3,123 $1,752 $242 $423 $1,087 22.31% Sep $4,875 $0 $0 $0 -----------$0 $4,875 100.00% $0 $2,623 $0 -----------$2,623 53.81% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $0 -----------$0 0.00% -----------$2,623 $2,252 $233 $565 $1,453 29.81% Oct $4,875 $0 $0 $0 -----------$0 $4,875 100.00% $0 $2,623 $1,000 $0 -----------$3,623 74.32% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $500 -----------$500 10.26% -----------$4,123 $752 $228 $147 $377 7.73% Nov $4,875 $0 $0 $0 -----------$0 $4,875 100.00% $0 $2,623 $0 $0 -----------$2,623 53.81% $0 $0 $0 $0 $0 $0 $0 $0 $0 -----------$0 0.00% $0 $0 -----------$0 0.00% -----------$2,623 $2,252 $222 $568 $1,462 29.99%
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Appendix
Appendix Table: Cash Flow Pro Forma Cash Flow Cash Received Cash from Operations: Cash Sales Cash from Receivables Subtotal Cash from Operations Additional Cash Received Non Operating (Other) Income 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 Payment of Accounts Payable Subtotal Spent on Operations Additional Cash Spent Non Operating (Other) Expense 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 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
$600 $0 $600 $0 $0 $0 $0 $0 $0 $0 $0 $600 Dec $36 $283 $319 $0 $0 $0 $0 $0 $0 $0 $0 $319 $281 $581
$1,300 $0 $1,300 $0 $0 $0 $0 $0 $0 $0 $0 $1,300 Jan $149 $1,209 $1,359 $0 $0 $0 $0 $0 $0 $0 $0 $1,359 ($59) $523
$2,600 $0 $2,600 $0 $0 $0 $0 $0 $0 $0 $0 $2,600 Feb $281 $2,372 $2,653 $0 $0 $0 $0 $0 $0 $0 $0 $2,653 ($53) $470
$3,250 $0 $3,250 $0 $0 $0 $0 $0 $0 $0 $0 $3,250 Mar $314 $2,784 $3,098 $0 $0 $0 $0 $0 $0 $0 $0 $3,098 $152 $622
$3,900 $0 $3,900 $0 $0 $0 $0 $0 $0 $0 $0 $3,900 Apr $317 $2,851 $3,168 $0 $0 $400 $0 $0 $0 $0 $0 $3,568 $332 $953
$4,875 $0 $4,875 $0 $0 $0 $0 $0 $0 $0 $0 $4,875 May $380 $3,346 $3,726 $0 $0 $600 $0 $0 $0 $0 $0 $4,326 $549 $1,502
$4,875 $0 $4,875 $0 $0 $0 $0 $0 $0 $0 $0 $4,875 Jun $344 $3,138 $3,482 $0 $0 $600 $0 $0 $0 $0 $0 $4,082 $793 $2,295
$4,875 $0 $4,875 $0 $0 $0 $0 $0 $0 $0 $0 $4,875 Jul $379 $3,373 $3,752 $0 $0 $600 $0 $0 $0 $0 $0 $4,352 $523 $2,818
$4,875 $0 $4,875 $0 $0 $0 $0 $0 $0 $0 $0 $4,875 Aug $379 $3,410 $3,788 $0 $0 $600 $0 $600 $0 $0 $0 $4,988 ($113) $2,705
$4,875 $0 $4,875 $0 $0 $0 $0 $0 $0 $0 $0 $4,875 Sep $342 $3,123 $3,465 $0 $0 $400 $0 $600 $0 $0 $0 $4,465 $410 $3,114
$4,875 $0 $4,875 $0 $0 $0 $0 $0 $0 $0 $0 $4,875 Oct $450 $3,919 $4,369 $0 $0 $0 $0 $600 $0 $0 $0 $4,969 ($94) $3,020
$4,875 $0 $4,875 $0 $0 $0 $0 $0 $0 $0 $0 $4,875 Nov $341 $3,202 $3,543 $0 $0 $0 $0 $800 $0 $0 $0 $4,343 $532 $3,552
0.00%
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Appendix
Appendix Table: Balance Sheet Pro Forma Balance Sheet Assets Current Assets Cash Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital 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 $0 $0 $0 $0 $32,400 $32,400 $10,450 ($6,550) $0 $3,900 $36,300 $3,900 Dec $43 $0 $0 $43 $32,400 $32,443 $10,450 ($6,550) $238 $4,138 $36,581 $4,138 Jan $179 $0 $0 $179 $32,400 $32,579 $10,450 ($6,550) $43 $3,943 $36,523 $3,943 Feb $337 $0 $0 $337 $32,400 $32,737 $10,450 ($6,550) ($168) $3,732 $36,470 $3,732 Mar $376 $0 $0 $376 $32,400 $32,776 $10,450 ($6,550) ($55) $3,845 $36,622 $3,845 Apr $381 ($400) $0 ($19) $32,400 $32,381 $10,450 ($6,550) $673 $4,573 $36,953 $4,573 May $456 ($1,000) $0 ($544) $32,400 $31,856 $10,450 ($6,550) $1,746 $5,646 $37,502 $5,646 Jun $413 ($1,600) $0 ($1,187) $32,400 $31,213 $10,450 ($6,550) $3,182 $7,082 $38,295 $7,082 Jul $455 ($2,200) $0 ($1,745) $32,400 $30,655 $10,450 ($6,550) $4,263 $8,163 $38,818 $8,163 Aug $455 ($2,800) $0 ($2,345) $31,800 $29,455 $10,450 ($6,550) $5,350 $9,250 $38,705 $9,250 Sep $411 ($3,200) $0 ($2,789) $31,200 $28,411 $10,450 ($6,550) $6,804 $10,704 $39,114 $10,704 Oct $540 ($3,200) $0 ($2,660) $30,600 $27,940 $10,450 ($6,550) $7,181 $11,081 $39,020 $11,081 Nov $410 ($3,200) $0 ($2,790) $29,800 $27,010 $10,450 ($6,550) $8,642 $12,542 $39,552 $12,542 Starting Balances $300 $0 $300 $36,000 $0 $36,000 $36,300 Dec $581 $0 $581 $36,000 $0 $36,000 $36,581 Jan $523 $0 $523 $36,000 $0 $36,000 $36,523 Feb $470 $0 $470 $36,000 $0 $36,000 $36,470 Mar $622 $0 $622 $36,000 $0 $36,000 $36,622 Apr $953 $0 $953 $36,000 $0 $36,000 $36,953 May $1,502 $0 $1,502 $36,000 $0 $36,000 $37,502 Jun $2,295 $0 $2,295 $36,000 $0 $36,000 $38,295 Jul $2,818 $0 $2,818 $36,000 $0 $36,000 $38,818 Aug $2,705 $0 $2,705 $36,000 $0 $36,000 $38,705 Sep $3,114 $0 $3,114 $36,000 $0 $36,000 $39,114 Oct $3,020 $0 $3,020 $36,000 $0 $36,000 $39,020 Nov $3,552 $0 $3,552 $36,000 $0 $36,000 $39,552
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Appendix
Appendix Table: Sales Forecast Sales Forecast Sales Aircraft Rental Other Total Sales Direct Cost of Sales Aircraft Rental Other Subtotal Direct Cost of Sales Dec $600 $0 $600 Dec $0 $0 $0 Jan $1,300 $0 $1,300 Jan $0 $0 $0 Feb $2,600 $0 $2,600 Feb $0 $0 $0 Mar $3,250 $0 $3,250 Mar $0 $0 $0 Apr $3,900 $0 $3,900 Apr $0 $0 $0 May $4,875 $0 $4,875 May $0 $0 $0 Jun $4,875 $0 $4,875 Jun $0 $0 $0 Jul $4,875 $0 $4,875 Jul $0 $0 $0 Aug $4,875 $0 $4,875 Aug $0 $0 $0 Sep $4,875 $0 $4,875 Sep $0 $0 $0 Oct $4,875 $0 $4,875 Oct $0 $0 $0 Nov $4,875 $0 $4,875 Nov $0 $0 $0
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