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Page 1
Table of Contents
Page 2
Rutabaga Sweets
Rutabaga Sweets is a dessert bar and bakery located in the Business Improvement District
(BID) of Washington DC. We can loosely be described as a quick-service restaurant where
customers sit around a bar and watch their desserts being made. The show, as well as the
dessert, is our main selling point.
Rutabaga Sweets will hold true to its vision of being a new concept with an old fashioned feel in
order to become a favorite spot for DC natives. As the reported national leader in money
spent in restaurants, Washington DC is an optimal location for launching a new restaurant
concept. Rutabaga Sweets also hopes to become a destination for the thousands of tourists,
both American and foreign, who visit DC every year.
We plan to manipulate our location in the Business Improvement District to our utmost
advantage. Both tax incentives and high traffic due to the MCI Center will give us an edge as a
new business. As the BID fills up with new businesses over the next few years Rutabaga
Sweets will receive an added boost of increased traffic. Therefore, we are aggressively
planning for a 50% increase in sales the second year of business.
By creating a new niche in the restaurant industry, Rutabaga Sweets will increase sales
by more than $145,000 over three years while maintaining a gross margin of 80%. Through a
philosophy of "nothing but the best" regarding both product and service, Rutabaga Sweets will
establish itself as an exceptional dessert bar in Washington DC. We also will gain a competitive
advantage in take out and catered desserts.
This plan outlines our company concept, philosophy and forecasted financials. Rutabaga
Sweets hopes to find seed money of $300,000 to launch our business in June of this year.
Chart: Highlights
Page 1
Rutabaga Sweets
1.1 Objectives
1.2 Mission
Dedication to the finest quality ingredients and "make it happen no matter what" customer
service.
Ongoing employee education and recognition programs.
Give back to the community.
Rutabaga Sweets is a dessert bar concept based in the Business Improvement District of
Washington DC. It emphasizes handmade gourmet desserts in a casual atmosphere. Watching
your dessert be prepared right in front of you is the unique selling point of our business.
Rutabaga Sweets is a sole proprietorship seeking seed money. Incorporation will be decided at
a later date as investors are secured.
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Rutabaga Sweets
Our start-up costs come to $300,000 which is mostly kitchen equipment, store furnishings and
construction, and starting inventory expenses associated with opening our first store. The start-
up costs are to be financed by outside investment. The assumptions are shown in Table 1 and
Illustration 2.
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal $1,000
Office Supplies $2,000
Beginning Inventory $5,000
Sommelier consulting $500
Menus, etc $1,000
Insurance $500
Rent $5,000
Design & Construction $125,000
Research and Development $1,000
Furnishings $10,000
Expensed Equipment $125,000
Dishes, silverware, glassware, etc $5,000
Total Start-up Expenses $281,000
Start-up Assets
Cash Required $19,000
Start-up Inventory $0
Other Current Assets $0
Long-term Assets $0
Total Assets $19,000
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Rutabaga Sweets
Assets
Non-cash Assets from Start-up $0
Cash Requirements from Start-up $19,000
Additional Cash Raised $0
Cash Balance on Starting Date $19,000
Total Assets $19,000
Liabilities
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Capital
Planned Investment
Investor 1 $300,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $300,000
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Rutabaga Sweets
Chart: Start-up
Rutabaga Sweets sells gourmet desserts coupled with exceptional customer service in a
comforting atmosphere. Customers can dine-in and watch the chef create their dessert. We
also offer carry-out to prepare our desserts at home or have a special cake for a celebration.
And every month customers can join in the fun and take a cooking class taught by a Cordon
Bleu trained chef.
We will also offer special promotions such as After School Cookie Club. Moms will be
encouraged to bring in their children for milk and cookies they help prepare! Or moms can
come in with friends for some relaxing time away during our Tea Time. And to promote
Rutabaga Sweets as a choice for celebrating, we will offer a large table that can be reserved for
parties.
Rutabaga Sweets focuses on local markets, with a special focus on restaurant and ice cream
shop customers. Washington DC provides an excellent climate for our dessert bar as
households there spend more money dining out than anywhere else in the country.
Our market is divided into four different psychographics: Comfort Creatures, Celebrators,
Soccer Moms, and Gourmet Wanna-bes. They represent groups of people sharing similar
behavior patterns and reasons for patronizing Rutabaga Sweets.
Comfort Creatures are mainly white collar workers who are driven by success and prestige yet
miss homemade comfort foods of their childhood. They may stop in on their own or bring
clients in for a gourmet dessert experience.
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Rutabaga Sweets
Celebrators are just that - people celebrating special occasions. Birthday, anniversary,
graduation, valentine's day, etc., families and loved ones will gather at Rutabaga Sweets over
sumptuous desserts and a festive atmosphere.
Soccer Moms actually encompasses all family members. Rutabaga Sweets is a gathering place
where families are welcome and feel comfortable. "Moms" can come in for after school
milk and cookies with their children and relax while we pamper the little ones. Or they can
meet up with friends for our Tea Time - a little civilized time stolen in the midst of a busy day.
Gourmet Wanna-bes watch the Food Network and easily spend $50 for the latest cookbook.
They'll be the adventuresome diners at Rutabaga Sweets, as well as the first to sign up for our
cooking classes.
Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Comfort Creatures 10% 5,000 5,500 6,050 6,655 7,321 10.00%
Celebrators 15% 5,000 5,750 6,613 7,605 8,746 15.00%
Gourmet Wanna-bes 15% 5,000 5,750 6,613 7,605 8,746 15.00%
Soccer Mom's 10% 5,000 5,500 6,050 6,655 7,321 10.00%
Total 12.59% 20,000 22,500 25,326 28,520 32,134 12.59%
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Rutabaga Sweets
We have specifically targeted segments of people with an appreciation for delicious desserts
and a need for comfort and relaxation. Rutabaga Sweets is a haven for the busy & successful
who want to treat themselves to something soothing and a little sinful! It doesn't take a lot of
time, yet is so rewarding. These people will value the high quality product presented without
pretension. Our customers will also appreciate the fun and fast service - whether celebrating a
birthday or stopping in before a concert at the MCI Center.
Although Rutabaga Sweets is creating a new niche in the food service industry, we do share
similarities, and therefore compete with several kinds of quick-service dessert businesses:
Although Rutabaga Sweets is opening up a new niche in the restaurant industry, there is no
doubt that we are competing with a variety of similar businesses. We need to compete against
the ideas that dessert is something that only follows a special dinner and needn't be any better
than a frozen cake. We want every day to be a reason to celebrate. And being able to watch
your gourmet dessert be prepared by a chef is a treat that appeals to everyone.
While price may be a factor when competing against Ice Cream and Coffee Shops, these same
consumers who are willing to pay five dollars for a latte or a scoop of ice cream are already
conscious of a better quality product. We believe they will be equally as willing to spend a little
extra for an extraordinary dessert in a warm and friendly setting.
The comfort factor also plays an important role in consumer decisions about sweets. Both the
atmosphere and staff of Rutabaga Sweets excel at warm & friendly. And the menu will reflect
"comfort food" desserts as opposed to intimidating desserts that resemble architectural collosi.
We will use the highest quality products; sometimes paring the ordinary with the exotic, but we
will always present our desserts in a unintimidating manner.
Our competitive edge is our unique niche in an old market. Although restaurants, cafes,
bakeries, ice cream shops, etc have an established position in the marketplace, none are quite
like Rutabaga Sweets. We are offering the customers a completely new experience and far
higher quality product. No where else will they find a professional chef preparing gourmet
desserts right in front of them. The amazing popularity of the Food Network is proof of the
public's new-found interest in being a spectator in the kitchen.
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Rutabaga Sweets
Rutabaga Sweets' marketing strategy will be education of the consumer and subsequent word-
of-mouth. We will become known as a unique dining experience as well as a superior pastry
shop. Customers will be reached through fliers, newspaper advertisements and special holiday
promotions.
Location will also play a crucial role in marketing and promotion. The business will be located in
high-traffic retail area in Washington, DC known as the BID. Washington DC's Business
Improvement District offers many incentives to businesses operating there. Additionally, there
is the traffic that will come from being located near the MCI Center.
Rutabaga Sweets will target progressive and generally well-educated and affluent consumers
who are interested in trying new products and experiences and are dissatisfied with the limited
selection and lack of personal service found in grocery store bakeries, neighborhood cafes and
ice cream shops and area restaurants.
The Yearly Total Sales chart summarizes our ambitious sales forecast.
Our Sales Forecast shows modest estimates for the first year of operations beginning in May of
2003. After establishing Rutabaga Sweets as 'the' place for sweets and celebrations, we project
aggressive sales increases for the following years. In the second year of operation we estimate
sales increase of 30% and of 50% in the third year for desserts, POP and carry-out. We are
planning a 10% increase in Weekly Lesson fees each of the two following years while keeping
costs constant.
Our cost of sales is based on an average food cost of 20% for dine in desserts and 15% for
point of purchase items, carry-out and weekly lessons. We project a consistent food cost
percentage of these amounts for the following two years. Keeping food costs low while sales
increase is vital to the profitability of Rutabaga Sweets.
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Rutabaga Sweets
Sales Forecast
Year 1 Year 2 Year 3
Sales
Dessert Sales $144,000 $216,000 $280,800
POP Sales $2,650 $3,445 $5,167
Carry Out $5,100 $6,240 $9,360
Weekly Lessons $14,400 $15,840 $17,424
Total Sales $166,150 $241,525 $312,751
Page 9
Rutabaga Sweets
5.3 Milestones
Rutabaga Sweets plans to be profitable within the first year of operation. Our goal is to
reinvest in the company and expand to three stores by the third year. From that point we hope
to establish partnerships with each store's chef; similar to Outback's proprietor program. They
will each invest in their store and be directly rewarded for its profitability.
Rutabaga Sweets will be slow to hire people in the first few years of operation, but very loyal to
those who are hired. Initially all employees will be part-time as the majority of the work will be
done by the chef-proprietor. As the company grows, new employees will be trained and
supervised by original employees who have been promoted to a leadership position. It is our
belief that employees who are dedicated to the success of Rutabaga Sweets should be
rewarded. They will be leaders in our future store developments.
Our Personnel Plan begins at ground zero with the founder being the only employee. Wendi
James, the chef and proprietor, will initially serve as the only dessert bar chef, as well as
the store manager and the instructor for the weekly lessons. Being a graduate of Le Cordon
Bleu in Paris, France with experience in three five-star restaurants she is well prepared for the
jobs of chef and instructor. In addition, her degree from the University of Illinois, C-U in
Restaurant Management equally prepares her for the managerial aspects of the business.
Rutabaga Sweets intends to promote from within and reward the best employees with
leadership roles. Our opening employment goal is 4 with a goal to increase to 7 by the end of
the first year, 10 the second year and 12 the third year. We realize that this is very aggressive
staffing, but intend to hire culinary professionals who are used to the demands of the
restaurant business. By this hiring philosophy, we will be able to operate with fewer, but more
Page 10
Rutabaga Sweets
productive employees and reward them accordingly. From that point we intend to increase the
responsibilities of each employee as opposed to hiring more people. Thereby rewarding those
who have worked hard to establish Rutabaga Sweets as a superior dessert shop. These people
will then be vital in our expansion as we open new stores.
Table: Personnel
Personnel Plan
Year 1 Year 2 Year 3
Chef/Proprietor $28,800 $31,680 $34,848
Baker $3,920 $4,312 $6,720
Host $4,347 $4,347 $4,347
Dessert Bar Assistants $7,200 $7,920 $8,712
Dishwasher/Busser $5,796 $5,760 $5,760
Total People 7 10 12
It is key to our financial success to grow Rutabaga Sweets not just as a dessert bar, but as a
company. We are looking for an investment of $300,000 seed money with the hopes of
eventually selling an established chain of dessert bars or establishing our company as a
gourmet franchise. This means we must always be reinvesting in the future of Rutabaga
Sweets.
The financial plan depends on important assumptions, most of which are shown in the following
table. The key underlying assumptions are:
General Assumptions
Year 1 Year 2 Year 3
Plan Month 1 2 3
Current Interest Rate 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00%
Tax Rate 30.00% 30.00% 30.00%
Other 0 0 0
Page 11
Rutabaga Sweets
For our break-even analysis, we assume running costs including our full payroll, rent, and
utilities, and an estimation of other running costs. Payroll alone, at our present run rate, is only
about $4,000.
Break-even Analysis
Assumptions:
Average Percent Variable Cost 19%
Estimated Monthly Fixed Cost $10,689
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Rutabaga Sweets
An important assumption when calculating our P&L is the increase in sales from year to year.
We are basing our assumptions on the financial success of Finale Dessertery in Boston,
Massachusetts. They reported a 50% increase in sales the second year of business followed by
a 30% increase the next year. We feel Rutabaga Sweets can match, if not beat those sales,
considering the National Restaurant Association's analysis of the Bureau of Labor Statistics
Consumer Expenditure Survey states that Washington DC households spend the most at
restaurants per year.
It is also vital that we hold our food cost at 20% and 15% respectively for dine-in desserts and
POP, carry-out and weekly lessons. That will assure our gross margin remains high.
Expenses
Payroll $50,063 $54,019 $60,387
Sales and Marketing and Other Expenses $2,300 $2,500 $2,500
Depreciation $0 $0 $0
Leased Equipment $0 $0 $0
Utilities $6,000 $6,000 $6,000
Insurance $2,400 $2,400 $2,400
Rent $60,000 $60,000 $60,000
Payroll Taxes $7,509 $8,103 $9,058
Other $0 $0 $0
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Rutabaga Sweets
Page 14
Rutabaga Sweets
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Rutabaga Sweets
Being a quick-service oriented business, our cash flow depends on sales assumptions. It is
critical to keep our food cost low. We also need to be careful to balance slow (non-holiday)
months with busy months with big holidays such as Christmas, Valentine's Day and Mother's
Day.
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Rutabaga Sweets
Chart: Cash
Page 17
Rutabaga Sweets
The balance sheet is quite solid. We do not project any real trouble meeting our debt
obligations - as long as we can achieve our specific objectives. We realize we've projected
aggressively, but are confident the location we've chosen for Rutabaga Sweets, as well as the
dessert bar concept itself , will be very successful.
At this point we haven't included any assets or depreciation in our calculations. Whether we
purchase new or used kitchen equipment will determine those numbers at a later date.
Current Assets
Cash $30,969 $71,554 $151,403
Inventory $3,834 $6,467 $7,216
Other Current Assets $0 $0 $0
Total Current Assets $34,802 $78,021 $158,619
Long-term Assets
Long-term Assets $0 $0 $0
Accumulated Depreciation $0 $0 $0
Total Long-term Assets $0 $0 $0
Total Assets $34,802 $78,021 $158,619
Current Liabilities
Accounts Payable $11,774 $12,103 $14,365
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $11,774 $12,103 $14,365
Long-term Liabilities $0 $0 $0
Total Liabilities $11,774 $12,103 $14,365
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Rutabaga Sweets
Table: Ratios
Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth n.a. 45.37% 29.49% 4.56%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 80.67% 80.44% 80.66% 24.26%
Selling, General & Administrative Expenses 78.24% 62.69% 55.61% 12.12%
Advertising Expenses 1.38% 1.04% 0.80% 0.98%
Profit Before Interest and Taxes 3.46% 25.37% 35.78% 1.92%
Main Ratios
Current 2.96 6.45 11.04 1.37
Quick 2.63 5.91 10.54 0.74
Total Debt to Total Assets 33.83% 15.51% 9.06% 59.26%
Pre-tax Return on Net Worth 24.99% 92.95% 77.58% 4.93%
Pre-tax Return on Assets 16.54% 78.53% 70.55% 12.10%
Activity Ratios
Inventory Turnover 10.74 9.17 8.84 n.a
Accounts Payable Turnover 9.84 12.17 12.17 n.a
Payment Days 27 30 28 n.a
Total Asset Turnover 4.77 3.10 1.97 n.a
Debt Ratios
Debt to Net Worth 0.51 0.18 0.10 n.a
Current Liab. to Liab. 1.00 1.00 1.00 n.a
Liquidity Ratios
Net Working Capital $23,029 $65,918 $144,253 n.a
Interest Coverage 0.00 0.00 0.00 n.a
Additional Ratios
Assets to Sales 0.21 0.32 0.51 n.a
Current Debt/Total Assets 34% 16% 9% n.a
Acid Test 2.63 5.91 10.54 n.a
Sales/Net Worth 7.21 3.66 2.17 n.a
Dividend Payout 0.00 0.00 0.00 n.a
Page 19
Appendix
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
Sales
Dessert Sales 0% $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $16,000 $8,000 $12,000 $8,000 $12,000 $16,000
POP Sales 0% $200 $200 $200 $100 $100 $100 $300 $50 $500 $100 $300 $500
Carry Out 0% $300 $300 $300 $300 $300 $500 $1,000 $200 $700 $200 $500 $500
Weekly Lessons 0% $1,800 $1,800 $1,800 $900 $900 $900 $1,800 $900 $900 $900 $900 $900
Total Sales $14,300 $14,300 $14,300 $13,300 $13,300 $13,500 $19,100 $9,150 $14,100 $9,200 $13,700 $17,900
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
Dessert Sales $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $3,200 $1,600 $2,400 $1,600 $2,400 $3,200
POP Sales $30 $30 $30 $15 $15 $15 $45 $8 $75 $15 $45 $75
Carry Out $45 $45 $45 $45 $45 $75 $150 $30 $105 $30 $75 $75
Weekly Lessons $270 $270 $270 $135 $135 $135 $270 $135 $135 $135 $135 $135
Subtotal Direct Cost of Sales $2,745 $2,745 $2,745 $2,595 $2,595 $2,625 $3,665 $1,773 $2,715 $1,780 $2,655 $3,485
Page 1
Appendix
Table: Personnel
Personnel Plan
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Chef/Proprietor 0% $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400 $2,400
Baker 0% $0 $0 $0 $0 $0 $560 $560 $560 $560 $560 $560 $560
Host 0% $483 $0 $0 $0 $483 $483 $483 $483 $483 $483 $483 $483
Dessert Bar Assistants 0% $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600
Dishwasher/Busser 0% $483 $483 $483 $483 $483 $483 $483 $483 $483 $483 $483 $483
Total People 4 4 4 4 4 5 5 5 5 7 7 7
Total Payroll $3,966 $3,483 $3,483 $3,483 $3,966 $4,526 $4,526 $4,526 $4,526 $4,526 $4,526 $4,526
Page 2
Appendix
General Assumptions
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Long-term Interest Rate 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%
Other 0 0 0 0 0 0 0 0 0 0 0 0
Page 3
Appendix
Gross Margin $11,555 $11,555 $11,555 $10,705 $10,705 $10,875 $15,435 $7,378 $11,385 $7,420 $11,045 $14,415
Gross Margin % 80.80% 80.80% 80.80% 80.49% 80.49% 80.56% 80.81% 80.63% 80.74% 80.65% 80.62% 80.53%
Expenses
Payroll $3,966 $3,483 $3,483 $3,483 $3,966 $4,526 $4,526 $4,526 $4,526 $4,526 $4,526 $4,526
Sales and Marketing and Other $1,000 $0 $0 $0 $0 $300 $500 $0 $0 $0 $0 $500
Expenses
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Insurance $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Rent $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Payroll Taxes 15% $595 $522 $522 $522 $595 $679 $679 $679 $679 $679 $679 $679
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $11,261 $9,705 $9,705 $9,705 $10,261 $11,205 $11,405 $10,905 $10,905 $10,905 $10,905 $11,405
Profit Before Interest and Taxes $294 $1,850 $1,850 $1,000 $444 ($330) $4,030 ($3,527) $480 ($3,485) $140 $3,010
EBITDA $294 $1,850 $1,850 $1,000 $444 ($330) $4,030 ($3,527) $480 ($3,485) $140 $3,010
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred $88 $555 $555 $300 $133 ($99) $1,209 ($1,058) $144 ($1,045) $42 $903
Net Profit $206 $1,295 $1,295 $700 $311 ($231) $2,821 ($2,469) $336 ($2,439) $98 $2,107
Net Profit/Sales 1.44% 9.05% 9.05% 5.26% 2.34% -1.71% 14.77% -26.99% 2.38% -26.52% 0.72% 11.77%
Page 4
Appendix
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
Net Cash Flow $9,896 ($2,210) $1,295 $314 $379 ($56) $5,214 ($8,020) $4,098 ($5,170) $2,725 $3,504
Cash Balance $28,896 $26,686 $27,981 $28,294 $28,674 $28,617 $33,831 $25,811 $29,910 $24,739 $27,465 $30,969
Page 5
Appendix
Current Assets
Cash $19,000 $28,896 $26,686 $27,981 $28,294 $28,674 $28,617 $33,831 $25,811 $29,910 $24,739 $27,465 $30,969
Inventory $0 $3,020 $3,020 $3,020 $2,855 $2,855 $2,888 $4,032 $2,259 $2,987 $2,207 $2,921 $3,834
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $19,000 $31,915 $29,705 $31,000 $31,149 $31,528 $31,505 $37,863 $28,070 $32,896 $26,946 $30,385 $34,802
Long-term Assets
Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Accumulated Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Assets $19,000 $31,915 $29,705 $31,000 $31,149 $31,528 $31,505 $37,863 $28,070 $32,896 $26,946 $30,385 $34,802
Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Current Liabilities
Accounts Payable $0 $12,709 $9,205 $9,205 $8,654 $8,722 $8,930 $12,467 $5,143 $9,633 $6,122 $9,464 $11,774
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $0 $12,709 $9,205 $9,205 $8,654 $8,722 $8,930 $12,467 $5,143 $9,633 $6,122 $9,464 $11,774
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $12,709 $9,205 $9,205 $8,654 $8,722 $8,930 $12,467 $5,143 $9,633 $6,122 $9,464 $11,774
Paid-in Capital $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000
Retained Earnings ($281,000) ($281,000) ($281,000) ($281,000) ($281,000) ($281,000) ($281,000) ($281,000) ($281,000) ($281,000) ($281,000) ($281,000) ($281,000)
Earnings $0 $206 $1,501 $2,795 $3,495 $3,806 $3,575 $6,396 $3,927 $4,263 $1,823 $1,921 $4,029
Total Capital $19,000 $19,206 $20,501 $21,795 $22,495 $22,806 $22,575 $25,396 $22,927 $23,263 $20,823 $20,921 $23,029
Total Liabilities and Capital $19,000 $31,915 $29,705 $31,000 $31,149 $31,528 $31,505 $37,863 $28,070 $32,896 $26,946 $30,385 $34,802
Net Worth $19,000 $19,206 $20,501 $21,795 $22,495 $22,806 $22,575 $25,396 $22,927 $23,263 $20,823 $20,921 $23,029
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