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Executive Summary
Foosball Hall is a new gaming hall and bar serving the Madison, Wisconsin community. Foosball or table soccer is an exciting table game originating from 1920's Germany. The game involves two to four people in an exciting match that tests skill, strategy, and willingness to have fun. People, primarily male students, play foosball as an exciting alternative to pool. They are looking for skill oriented game that they can play in the social setting of a bar. While there are many different pool hall bars in Madison, there are no foosball bars even though the demand is quite apparent. Demand can be witnessed anywhere there is a foosball table. There are always lines of people waiting to play, and it is extremely rare to be able to walk up to an unused foosball table. Foosball Hall will meet the unmet demand in Madison, Wisconsin with a bar offering beer, food, beverages and plenty of foosball tables for casual play as well as tournaments. Keys to Success Foosball Hall has identified three keys that will be critical for their success. The first is the need to design and implement strict financial controls. This is particularly important for an establishment that serves alcohol, as employee theft is one of the largest drains on this type of business. The financial controls will help minimize this risk. The second key is the behavior of all employees toward customers that each customer is treated as if they were the most important customer of Foosball Hall. The last key to success will be the constant analysis for improvement of the business model. It will be management's task to continually analyze the business model looking for ways that it can be adjusted to increase profitability for the business. Foosball Hall will not assume that this business model is static, rather, they believe that in order to improve it must be dynamic. Target Market Customers Foosball Hall has identified two population target segments. The first segment is casual players of table games. This segment enjoys playing table games such as foosball or pool in a bar setting. They appreciate the opportunity to play a fun game while they consume beverages (alcoholic or not) and socialize with friends or strangers. This group is growing at the annual rate of 8% with 54,889 potential customers. The second segment of the population that will be targeted is competitive players. These people appreciate foosball for the same reasons as the casual players, however, this group is also quite competitive. They play foosball to win, either with friends or in a tournament and continually work on their skills to become better players. This segment has an annual growth rate of 7% and 12,445 potential customers. Management Foosball Hall will be lead by Stan Spinner. Stan received his undergraduate degree in Philosophy from University of Wisconsin-Stevens Point. While in college, Stan managed a pool hall. This was Stan's first experience in a retail establishment and provided him with invaluable experience in tavern operations, as well as insight into customer habits and preferences. Recognizing that one day he wanted to run his own business, but was not comfortable with his incomplete skill set, Stan enrolled in the University of Wisconsin's MBA Entrepreneurship Program. Stan went through the two year program with the intention of opening a foosball bar upon graduation. Having this goal in his head while taking the course work proved to be quite valuable as it became a lens through which Stan studied all the new material. Foosball Hall is a start-up gaming (foosball) bar primarily serving the students of Madison. Sales have been forecast to be approximately $200,000 for year two, increasing to approximately $290,000 in year three. Net profit will be negative in year one, rising to a positive % in years two and three.
1.2 Mission
It is Foosball Hall's mission to become a premier night spot for Madison students and locals who are interested in playing table games and drinking. Foosball Hall will accomplish this by offering abundant foosball tables, beer, and food at reasonable prices. By providing the Madison market with the opportunity to participate in this increasingly popular table game, Foosball Hall will become a Madison favorite. The business will be operated on the premise that satisfied customers are imperative to a sustainable business.
1.3 Objectives
To become one of the premier venues in Madison that offers table games (in this case specifically foosball), beer and food. To grow the game of foosball in Madison, adding legitimacy to the game and increasing the number and participation levels of the tournaments. Reach the point of sustainable profitability by year two.
Company Summary Foosball Hall, a start-up business has been formed as a Wisconsin Limited Liability Corporation (L.L.C.) with the main purpose as a table game (foosball) operation that offers soft drinks, beer, and light food.
Foosball tables: There are 10 U.S.-based manufacturers of tables. The specific vendor will be chosen soon based on a competitive bidding process. All of the manufacturers produce high quality tables and compete primarily on price. Foosball Hall is in need of 10 tables @ approximately $3,000 each. In addition to the tables, two large white boards will be needed for tournament play. Lighting: While the chosen space has lights for the area in general, additional lighting will need to be set up for proper table play. Stools, tables, counter top and chairs: These items will be purchased to provide a place for non-players to relax and socialize. Kitchen equipment: These are the items necessary for serving a bar menu and liquid refreshments. Needed items include: glasses, silverware, plates, microwave, convection oven, refrigerator and freezer, serving/cooking utensils, a beer tap system, a fountain dispenser for soft drinks. Attorney fees: The needed legal services include business formation advice and assistance, basic contract reviews, and general business advice. Consultants: A business consultant will be utilized for assistance in setting up various operating systems for the entity. Various marketing information such as brochures, stationery, etc. Website: The website will be developed as a form of communication regarding the activities of Foosball Hall and the game of foosball. This includes disseminating information regarding tournaments as well as advertising the fact that there is a place
that offers foosball. There are numerous foosball associations that will then link Foosball Hall's site to theirs for general game promotion.
Start-up Requirements
Start-up Expenses Legal Stationery etc. Brochures Consultants Insurance Rent Research and Development Expensed Equipment Other Total Start-up Expenses Start-up Assets Cash Required Other Current Assets Long-term Assets Total Assets Total Requirements $200 $300 $200 $2,000 $0 $0 $0 $5,000 $0 $7,700 $44,300 $3,000 $40,000 $87,300 $95,000
Start-up Funding
Start-up Expenses to Fund Start-up Assets to Fund Total Funding Required Assets Non-cash Assets from Start-up Cash Requirements from Start-up Additional Cash Raised Cash Balance on Starting Date Total Assets Liabilities and Capital Liabilities Current Borrowing Long-term Liabilities $7,700 $87,300 $95,000 $43,000 $44,300 $0 $44,300 $87,300
$0 $0
Accounts Payable (Outstanding Bills) Other Current Liabilities (interest-free) Total Liabilities Capital Planned Investment Stan Spinner Investor 2 Other Additional Investment Requirement Total Planned Investment Loss at Start-up (Start-up Expenses) Total Capital Total Capital and Liabilities Total Funding
$0 $0 $0
Products Foosball Foosball, or table soccer is a popular table game that looks sort of like a soccer game. The name is derived from the German word for field soccer which is fubball. The adopted name in the States is foosball or table soccer. The game itself originated in Germany during the late 1920's and early 1930's. A fact that may come as a surprise to many is that foosball is played on a competitive (professional) level. There are several tours which exist with regional, national and international competitions. Within the U.S. there are two well established associations, United States Table Soccer Association and the American Table Soccer Federation. So while most participants are recreational players, there are many people who play foosball at a competitive level. The bulk of Foosball Hall customers are the recreational players. Foosball Hall offers 10 different tables for foosball. Five days a week the tables are open to first-come/first-served play. Two days a week half of the tables will be reserved for league/tournament play. Customers are able to play foosball by paying an hourly rate. Players can either play games with people within their party or have pickup opponents. Foosball Hall serves a rotating tap of three beers as well as several bottled varieties. Other beverages include fountain soft drinks. Foosball Hall offers a light bar food menu of sandwiches and several different appetizer items. So while foosball is the main attraction, i.e. why customers would choose Foosball Hall over another bar, the main source of revenue is from the offered food and beverages. The foosball revenue, both from individual play and from tournaments will help supplement the business, profitability depends on selling sufficient levels of food and drinks. Offering foosball is an attractive service as many people enjoy participating in some sort of game while they are at a bar drinking and socializing. Foosball provides this entertainment, similar to pool and darts. Foosball offers the same challenge in terms of strategy and skill as pool and darts but makes the experience more fun and action oriented. So foosball can be said to be the best of both worlds, requiring skill and thought but at the same time being fun, fast paced action. Market Analysis Summary Foosball Hall has identified two target customer segments which are particularly attractive. The first segment customers are the more casual players who are looking for some sort of activity (such as foosball, pool, darts) to occupy their time as they socialize and drink. The second group comprises the competitive foosball players. This group travels to where ever there are tables. While the two groups share the same interest in foosball, they are distinct groups and each one will need to be reached via different methods. Foosball Hall participates within the general pool hall industry, businesses that offer beer and pool typically. The foosball parlor industry is too small and new to have its own industry classification. While foosball is a very popular table game, there are just not enough foosball dedicated halls to have its own industry. Here lies the attractiveness of the industry, most of the foosball playing occurs on college campuses, there are few outside establishments that offer a pool-like foosball hall.
plays to pass time and have fun as opposed to playing at a competitive level in tournaments. Characteristics of the individuals that make up this group are:
Gender 85% male. Ages 17- 28. College students- 74% of the participants are in college or recently graduated from college. 69% play pool but prefer foosball because it combines similar levels of skill but at a much faster, exciting pace.
Competitive players This group plays to win. Foosball is not about a fun way to pass time but a serious game at which they work hard, developing competitive skills. This group is far smaller but the individuals are active participants. There are two different manufacturer based associations for foosball and numerous different player based associations. In fact, as a testament to the level of seriousness, size and participation levels of these players, almost all states in the U.S. have their own associations. It is this group of people that will be the most active participants in the offered tournaments.
Market Analysis
Year 1 Potential Customers Casual players Competitive players Total Growth 8% 7% 7.82% 54,889 12,445 67,334 59,280 13,316 72,596 64,022 14,248 78,270 69,144 15,245 84,389 74,676 16,312 90,988 Year 2 Year 3 Year 4 Year 5 CAGR 8.00% 7.00% 7.82%
of. Students are the perfect segment of the population that likes to drink, play games, has disposable income, and has extra time for leisure activities. Additionally, foosball is a social game that requires two- four players. Even beyond the requirement for multiple players, when people play foosball it is typically in a social setting with socializing occurring during play. While there are some other casual players, most are or recently were college students.
there are no other public places that offer more than one or two foosball tables for play. This competitive edge could diminish if it becomes so popular that competitors take notice and offer similar game options. However, Foosball Hall will enjoy the market leader position and will not rest on its laurels, continually looking for new ways to add value for their customers. Foosball Hall will be always looking for new ways to appeal to their target market by both secondary research, and through primary research in the form of observation of their customers.
Sales Forecast
Year 1 Sales Alcohol Soft drinks Food Table fees Total Sales Direct Cost of Sales Alcohol Soft drinks Food Table fees Subtotal Direct Cost of Sales $67,537 $36,470 $31,742 $12,832 $148,581 Year 1 $16,884 $5,457 $10,475 $0 $32,816 Year 2 $95,778 $51,720 $45,016 $18,198 $210,712 Year 2 $23,945 $7,758 $14,855 $0 $46,558 Year 3 $132,545 $71,574 $62,296 $25,184 $291,599 Year 3 $33,136 $10,736 $20,558 $0 $64,430
5.4 Milestones
Foosball Hall has identified several different milestones that will act as obtainable goals, providing the organization with benchmarks that they must reach. The following table details the different milestones, the timeline for them and the responsible party.
Milestones
Milestone Completion of the business plan First tournament Profitability $250K in revenue Totals Start Date 1/1/2003 1/1/2003 1/1/2003 1/1/2003 End Date 2/1/2003 3/1/2003 10/30/2004 10/30/2004 Budget $0 $0 $0 $0 $0 Manager SS HP BK SS Department Bus. Dev. Marketing Accounting Sales
Web Plan Summary The website will be used as a form of communication aimed primarily at the competitive players. The competitive players are those that use the Internet to stay in touch with the rest of the foosball community. This community, as perviously mentioned, is somewhat small but close knit. The Internet provides the perfect communication medium. The casual players are unlikely to use the website much, they will be looking for a casual place to have fun and pass the time and an Internet search is usually not used to find new places. The website will provide viewers with information regarding the services and products offered by Foosball Hall. In addition to providing information, the website will be linked into the different associations websites as a venue for tournament play.
business, to be his own boss. With this in mind, and recognizing his reasonable assessment that his business skill set was not totally complete, Stan decided to enroll in The University of Wisconsin's MBA Entrepreneurship Program. At this point Stan was aware that having a foosball hall was a viable business opportunity. While the immediacy of starting it as soon as possible to be the first to market was valuable, he recognized his deficiencies in his skill set and ultimately decided to continue school and begin his business after his degree was completed. Having this insight as to his work passion and how to execute it was invaluable to Stan as he went through all his course work with the goal of starting his own business when he graduated.
Bartender: In addition to tending bar and serving drinks, this position will help with the cleaning and busing of tables as well as opening and closing activities. When it is slow the position will also assist in the limited food preparation. There will be multiple bartenders, typically having part-time shifts. Bartender assistant: This position will back up the bartender in any activities that are needed such as cleaning, busing tables, assistance will table rental. This position will also help out with many of the back-end activities. There will be multiple people holding this position. Bookkeeper: This position will be filled during month five when business begins to pick up. Initially Stan will be taking care of these functions, however once business picks up there is no value added for Stan to do these functions so he will hire someone on a part-time basis.
Personnel Plan
Year 1 Stan Bartenders Bartender assistants Bookkeeper Total People Total Payroll $24,000 $17,800 $14,500 $7,200 8 $63,500 Year 2 $26,000 $36,000 $18,600 $6,000 8 $86,600 Year 3 $33,000 $56,000 $20,000 $12,000 8 $121,000
General Assumptions
Plan Month Current Interest Rate Long-term Interest Rate Tax Rate Other Year 1 1 10.00% 10.00% 30.00% 0 Year 2 2 10.00% 10.00% 30.00% 0 Year 3 3 10.00% 10.00% 30.00% 0
Break-even Analysis
Monthly Revenue Break-even Assumptions: Average Percent Variable Cost Estimated Monthly Fixed Cost $12,837 22% $10,001
$55,210 $3,000 $58,210 $40,000 $7,992 $32,008 $90,218 Year 1 $7,170 $0 $0 $7,170 $0 $7,170 $95,000 ($7,700) ($4,252) $83,048 $90,218 $83,048
$76,994 $3,000 $79,994 $40,000 $15,984 $24,016 $104,010 Year 2 $8,522 $0 $0 $8,522 $0 $8,522 $95,000 ($11,952) $12,440 $95,488 $104,010 $95,488
$115,674 $3,000 $118,674 $40,000 $23,976 $16,024 $134,698 Year 3 $11,051 $0 $0 $11,051 $0 $11,051 $95,000 $488 $28,159 $123,647 $134,698 $123,647
Ratio Analysis
Sales Growth Percent of Total Assets 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 Year 1 0.00% 3.33% 64.52% 35.48% 100.00% 7.95% 0.00% 7.95% 92.05% 100.00% 77.91% 80.78% 0.00% -2.86% Year 2 41.82% 2.88% 76.91% 23.09% 100.00% 8.19% 0.00% 8.19% 91.81% 100.00% 77.90% 72.00% 0.00% 8.43% Year 3 38.39% 2.23% 88.10% 11.90% 100.00% 8.20% 0.00% 8.20% 91.80% 100.00% 77.90% 68.25% 0.00% 13.80% Industry Profile 5.73% 33.26% 43.21% 56.79% 100.00% 21.91% 28.81% 50.72% 49.28% 100.00% 100.00% 76.43% 2.77% 1.89%
Main Ratios Current Quick Total Debt to Total Assets Pre-tax Return on Net Worth Pre-tax Return on Assets Additional Ratios Net Profit Margin Return on Equity Activity Ratios Accounts Payable Turnover Payment Days Total Asset Turnover Debt Ratios Debt to Net Worth Current Liab. to Liab. Liquidity Ratios Net Working Capital Interest Coverage Additional Ratios Assets to Sales Current Debt/Total Assets Acid Test Sales/Net Worth Dividend Payout
8.12 8.12 7.95% -5.12% -4.71% Year 1 -2.86% -5.12% 11.34 27 1.65 0.09 1.00 $51,040 0.00 0.61 8% 8.12 1.79 0.00
9.39 9.39 8.19% 18.61% 17.09% Year 2 5.90% 13.03% 12.17 28 2.03 0.09 1.00 $71,472 0.00 0.49 8% 9.39 2.21 0.00
10.74 10.74 8.20% 32.53% 29.86% Year 3 9.66% 22.77% 12.17 27 2.16 0.09 1.00 $107,623 0.00 0.46 8% 10.74 2.36 0.00
1.18 0.80 1.76% 61.12% 4.52% n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a
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
Alcohol
0%
$2,511
$2,787
$3,254
$4,587
$4,354
$5,656
$3,877
$6,141
$8,454
$8,654
$9,848
$7,414
Soft drinks
0%
$1,356
$1,505
$1,757
$2,477
$2,351
$3,054
$2,094
$3,316
$4,565
$4,673
$5,318
$4,004
Food
0%
$1,180
$1,310
$1,529
$2,156
$2,046
$2,658
$1,822
$2,886
$3,973
$4,067
$4,629
$3,485
Table fees
0%
$477
$530
$618
$872
$827
$1,075
$737
$1,167
$1,606
$1,644
$1,871
$1,409
Total Sales
$5,524
$6,131
$7,159 $10,091
$9,579 $12,443
$19,039
$21,666
$16,311
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Alcohol
$628
$697
$814
$1,147
$1,089
$1,414
$969
$1,535
$2,114
$2,164
$2,462
$1,854
Soft drinks
$339
$376
$439
$619
$588
$764
$523
$829
$241
$247
$281
$211
Food
$389
$432
$505
$711
$675
$877
$601
$952
$1,311
$1,342
$1,527
$1,150
Table fees
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$1,356
$1,505
$1,757
$2,477
$2,352
$3,055
$2,094
$3,317
$3,666
$3,752
$4,270
$3,215
Personnel Plan Month 1 Stan Bartenders Bartender assistants Bookkeeper Total People Total Payroll 0% 0% 0% 0% $2,000 $0 $0 $0 1 $2,000 Month 2 $2,000 $0 $0 $0 1 $2,000 Month 3 $2,000 $1,500 $1,200 $0 6 $4,700 Month 4 $2,000 $1,500 $1,200 $0 6 $4,700 Month 5 $2,000 $1,700 $1,400 $900 6 $6,000 Month 6 $2,000 $1,700 $1,400 $900 7 $6,000 Month 7 $2,000 $1,900 $1,550 $900 8 $6,350 Month 8 $2,000 $1,900 $1,550 $900 8 $6,350 Month 9 $2,000 $1,900 $1,550 $900 8 $6,350 Month 10 $2,000 $1,900 $1,550 $900 8 $6,350 Month 11 $2,000 $1,900 $1,550 $900 8 $6,350 Month 12 $2,000 $1,900 $1,550 $900 8 $6,350
General Assumptions Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Plan Month Current Interest Rate Long-term Interest Rate Tax Rate Other 1 10.00% 10.00% 30.00% 0 2 10.00% 10.00% 30.00% 0 3 10.00% 10.00% 30.00% 0 4 10.00% 10.00% 30.00% 0 5 10.00% 10.00% 30.00% 0 6 10.00% 10.00% 30.00% 0 7 10.00% 10.00% 30.00% 0 8 10.00% 10.00% 30.00% 0 9 10.00% 10.00% 30.00% 0 Month 10 10 10.00% 10.00% 30.00% 0 Month Month 11 12 11 12
Pro Forma Profit and Loss Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Sales Direct Cost of Sales Other Costs of Goods Total Cost of Sales Gross Margin Gross Margin % Expenses Payroll Sales and Marketing and Other Expenses Depreciation Rent Utilities Insurance Payroll Taxes Other Total Operating Expenses Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred Net Profit Net Profit/Sales 15% $2,000 $400 $666 $1,200 $350 $800 $300 $500 $6,216 $2,000 $400 $666 $1,200 $350 $800 $300 $500 $6,216 $4,700 $400 $666 $1,200 $350 $800 $705 $500 $9,321 $4,700 $400 $666 $1,200 $350 $800 $705 $500 $6,000 $400 $666 $1,200 $350 $800 $900 $500 $6,000 $400 $666 $1,200 $350 $800 $900 $500 $6,350 $400 $666 $1,200 $350 $800 $953 $500 $6,350 $400 $666 $1,200 $350 $800 $953 $500 $6,350 $400 $666 $1,200 $350 $800 $953 $500 $6,350 $400 $666 $1,200 $350 $800 $953 $500 $6,350 $6,350 $400 $666 $350 $800 $953 $500 $400 $666 $350 $800 $953 $500 $5,524 $1,356 $0 $1,356 $4,168 75.45% $6,131 $1,505 $0 $1,505 $4,626 75.45% $7,159 $10,091 $1,757 $0 $1,757 $5,401 75.45% $2,477 $0 $2,477 $7,614 75.45% $9,579 $12,443 $2,352 $0 $2,352 $7,227 75.45% $3,055 $0 $3,055 $9,388 75.45% Month 10 $3,752 $0 $3,752 80.29% Month Month 11 12 $4,270 $3,215 $0 $0
$8,529 $13,510 $18,599 $19,039 $21,666 $16,311 $2,094 $0 $2,094 75.45% $3,317 $0 $3,317 75.45% $3,666 $0 $3,666 80.29%
$1,200 $1,200
$9,321 $10,816 $10,816 $11,219 $11,219 $11,219 $11,219 $11,219 $11,219 $3,715 $4,381 $0 $0 $3,715 19.97% $4,068 $4,734 $0 $0 $4,068 21.37% $6,177 $1,878 $6,843 $2,544 $0 $0 $0 $0
($2,048) ($1,590) ($3,920) ($1,707) ($3,589) ($1,428) ($4,783) ($1,025) ($1,382) $0 $0 ($924) ($3,254) ($1,041) ($2,923) $0 $0 $0 $0 $0 $0 $0 $0 ($762) ($4,117) $0 $0 $0 $0 ($359) $0 $0 -7.59%
($2,048) ($1,590) ($3,920) ($1,707) ($3,589) ($1,428) ($4,783) ($1,025) -37.07% -25.93% -54.75% -16.92% -37.47% -11.47% -56.08%
Pro Forma Cash Flow Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Cash Received Cash from Operations Cash Sales Subtotal Cash from Operations Additional Cash Received 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 Bill Payments Subtotal Spent on Operations Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,000 $164 $2,164 $2,000 $4,911 $6,911 $4,700 $5,077 $4,700 $5,736 $6,000 $6,435 $6,000 $6,525 $6,350 $7,175 $6,350 $6,337 $6,350 $7,531 $6,350 $7,871 $6,350 $7,972 $6,350 $8,437 0.00% $0 $0 $0 $0 $0 $0 $0 $5,524 $0 $0 $0 $0 $0 $0 $0 $6,131 $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 $5,524 $5,524 $6,131 $6,131 $7,159 $10,091 $7,159 $10,091 $9,579 $12,443 $9,579 $12,443 $8,529 $13,510 $18,599 $19,039 $21,666 $16,311 $8,529 $13,510 $18,599 $19,039 $21,666 $16,311 Month 10 Month 11 Month 12
$0 $0 $7,159 $10,091
$0 $0 $9,579 $12,443
$9,777 $10,436 $12,435 $12,525 $13,525 $12,687 $13,881 $14,221 $14,322 $14,787
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
$0 $0 $0 $0 $0 $0 $2,164 $3,361
$0 $0 $0 $0 $0 $0 $6,911
$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 $823
$0 $0 $0 $0 $0 $0 $4,718
$0 $0 $0 $0 $0 $0 $4,818
$0 $0 $0 $0 $0 $0 $7,343
$0 $0 $0 $0 $0 $0 $1,523
$9,777 $10,436 $12,435 $12,525 $13,525 $12,687 $13,881 $14,221 $14,322 $14,787 ($345) ($2,856) ($82) ($4,995)
($780) ($2,618)
$47,661 $46,881 $44,263 $43,917 $41,062 $40,980 $35,985 $36,808 $41,525 $46,343 $53,687 $55,210
Pro Forma Balance Sheet Month 1 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 Current Liabilities 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 $0 $0 $4,743 $0 $0 $4,743 $0 $4,743 $4,887 $0 $0 $4,887 $0 $4,887 $5,522 $0 $0 $5,522 $0 $5,522 $6,218 $0 $0 $6,218 $0 $6,218 $6,285 $0 $0 $6,285 $0 $6,285 $95,000 $6,965 $0 $0 $6,965 $0 $6,965 $95,000 $6,087 $0 $0 $6,087 $0 $6,087 $95,000 $7,269 $0 $0 $7,269 $0 $7,269 $95,000 $7,606 $0 $0 $7,606 $0 $7,606 $95,000 $7,690 $0 $0 $7,690 $0 $7,690 $8,190 $0 $0 $8,190 $0 $8,190 $7,170 $0 $0 $7,170 $0 $7,170 $40,000 $40,000 $40,000 $40,000 $40,000 $0 $666 $1,332 $1,998 $2,664 $40,000 $3,330 $36,670 $80,732 $40,000 $3,996 $36,004 $79,984 $40,000 $4,662 $35,338 $74,323 $40,000 $5,328 $34,672 $74,480 $40,000 $5,994 $34,006 $78,531 $40,000 $40,000 $40,000 $6,660 $7,326 $7,992 $44,300 $47,661 $46,881 $44,263 $43,917 $3,000 $3,000 $3,000 $3,000 $3,000 $41,062 $3,000 $44,062 $40,980 $3,000 $43,980 $35,985 $3,000 $38,985 $36,808 $3,000 $39,808 $41,525 $3,000 $44,525 $46,343 $53,687 $55,210 $3,000 $3,000 $3,000 Starting Balances Month 2 Month 3 Month Month 5 Month 6 Month 7 Month 8 Month 9 4 Month 10 Month 11 Month 12
$40,000 $39,334 $38,668 $38,002 $37,336 $87,300 $89,995 $88,549 $85,265 $84,253 Month 1 Month 2 Month 3
($7,700) ($7,700) ($7,700) ($7,700) ($7,700) ($7,700) ($7,700) ($7,700) ($7,700) ($7,700) ($7,700) ($7,700) ($7,700) $0 ($2,048) ($3,638) ($7,558) ($9,265) ($12,853) ($14,281) ($19,064) ($20,089) ($16,374) ($12,307) ($6,130) ($4,252) $87,300 $85,252 $83,662 $79,742 $78,035 $87,300 $89,995 $88,549 $85,265 $84,253 $87,300 $85,252 $83,662 $79,742 $78,035 $74,447 $80,732 $74,447 $73,019 $79,984 $73,019 $68,236 $74,323 $68,236 $67,211 $74,480 $67,211 $70,926 $78,531 $70,926 $74,993 $81,170 $83,048 $82,683 $89,361 $90,218 $74,993 $81,170 $83,048