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This is a business plan. It does not imply an offering of securities.
Table of Contents
1.0 Executive Summary
1
Chart: Highlights
2
1.1 Objectives 2
1.2 Mission
2
2.0 Company Summary
2
2.1 Company Ownership
2
2.2 Start-up Summary
3
Table: Start-up Funding
3
Chart: Start-up 4
Table: Start-up 4
3.0 Services 4
4.0 Market Analysis Summary
5
4.1 Market Segmentation
5
Chart: Market Analysis (Pie) 6
Table: Market Analysis 6
5.0 Strategy and Implementation Summary
5.1 Competitive Edge 6
5.2 Sales Strategy
8
Chart: Sales Monthly 8
Table: Sales Forecast 9
6.0 Management Summary
9
6.1 Personnel Plan 9
Table: Personnel
10
7.0 Financial Plan 11
7.1 Break-even Analysis
11
Chart: Break-even Analysis
11
Table: Break-even Analysis
11
7.2 Projected Profit and Loss
12
Chart: Profit Monthly 12
Table: Profit and Loss 13
7.3 Projected Cash Flow
14
Table: Cash Flow
14
Chart: Cash
15
7.4 Projected Balance Sheet
16
Table: Balance Sheet 16
7.5 Business Ratios 16
Table: Ratios
17
Table: Sales Forecast
1
Table: Personnel
2
Table: General Assumptions
3
Table: Profit and Loss
4
Table: Cash Flow
5
Table: Balance Sheet
6
Page 1
Studio67 - Restaurant
1.0 Executive Summary
This restaurant business plan is for Studio67, a new medium-sized restaurant located in a
trendy neighborhood of Portland, Oregon. Studio67's emphasis will be on organic and creative
ethnic food. An emphasis on organic ingredients is based on Studio67's dedication to
sustainable development. Additionally, the restaurant procures local foods when possible,
reducing their dependence on fossil fuels used for transportation.
Services
Studio67 offers Portlanders a trendy, fun place to have great food in a social environment. Chef
Mario Langostino has a large repertoire of ethnic ingredients and recipes. Studio67
forecasts that the majority of purchases will be from the chef's recommendations. Ethnic recipes will be
used to provide the customers with a diverse, unusual menu. Chef Mario will also be emphasizing healthy
dishes, recognizing the trend within the restaurant industry for the
Page 1
Studio67 - Restaurant
1.1 Objectives
1.
2.
3.
Sales of $350K the first year, more than half a million the second.
Personnel costs less than $300K the first year, less than $400K the second year.
Profitable in year two, better than 7.5% profits on sales by year three.
1.2 Mission
Studio67 is a great place to eat, combining an intriguing atmosphere with excellent, interesting
food that is also very good for the people who eat there. We want fair profit for the owners, and
a rewarding place to work for the employees.
Studio67 - Restaurant
2.2 Start-up Summary
The founders of the company are Andrew Flounderson and his companion Jane Flap. Jane
focuses on the financial issues and Andrew on the personnel issues. Jane earned her
business major undergraduate degree from the University of Berkeley.
We have found the location and secured the lease for $2,000 per month. We will be able to set up shop
in time to begin turning back a profit by the end of month eleven and be profitable in the second year.
The place is already equipped as a restaurant so we plan to come up with a total of $40,000 in capital,
plus a $100,000 SBA-guaranteed loan, to start up the company.
$3,000
$138,000
$141,000
$50,000
$88,000
$0
$88,000
$138,000
$0
$100,000
$1,000
$0
$101,000
Capital
Planned Investment
Investor 1
Investor 2
Additional Investment Requirement
Total Planned Investment
$25,000
$15,000
$0
$40,000
($3,000)
$37,000
$138,000
Total Funding
$141,000
Page 3
Studio67 - Restaurant
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal
Stationery etc.
$1,000
$1,000
Other
Total Start-up Expenses
$1,000
$3,000
Start-up Assets
Cash Required
Other Current Assets
$88,000
$50,000
Long-term Assets
Total Assets
$0
$138,000
Total Requirements
$141,000
3.0 Services
The Menu
The menu is going to be extremely simple but changing every day. We will keep a small group of
constants on the menu and then feature a chef's recommendation that we plan to have 85% of meals
ordering. This will help us to reduce waste and plan ingredients and purchasing.
Organic Ingredients
The organic ingredient element will allow us to price to the extremely wealthy Internet
Page 4
Studio67 - Restaurant
entrepreneurs who are looking to spend an exorbitant amount of money to have peace of
mind that their money is still coming back to themselves. We will be extremely ecologically
conscious as well, and spread this across our literature. Eating at Studio67 will feel like having
contributed to the Sierra Club and drinking fresh squeezed orange juice.
Ethnic Ingredients and Recipes
Our chef will have great latitude in designing and producing menu offerings from many different
world cultures. We will endeavor to procure all the traditional, authentic ingredients necessary
to hold true to these varied and interesting cultural recipes.
Interior Accoutrements
People need to keep life interesting, and our artwork will reflect the world influences that
are core to the attitude of the Studio67 chef.
Studio67 - Restaurant
Dieting Women
The organic food menu will always have a line of extremely delicious very low-fat meals.
Studio67 will have tables of women meeting like they do in shows like Sex and the City,
to discuss all types of matters while feeling good about the food they eat.
Growth
10%
8%
6%
7%
5%
7.87%
Year 1
Year 2
Year 3
Year 4
Year 5
400,000
150,000
250,000
350,000
50,000
1,200,000
440,000
162,000
265,000
374,500
52,500
1,294,000
484,000
174,960
280,900
400,715
55,125
1,395,700
532,400
188,957
297,754
428,765
57,881
1,505,757
585,640
204,074
315,619
458,779
60,775
1,624,887
CAGR
10.00%
8.00%
6.00%
7.00%
5.00%
7.87%
Studio67 - Restaurant
Our competitive edge is the menu, the chef, the environment, and the tie-in to what's trendy.
Page 7
Studio67 - Restaurant
5.2 Sales Strategy
As the table shows, we intend to deliver sales of about $350K in the first year, and to
double that by the third year of the plan.
Page 8
Studio67 - Restaurant
Table: Sales Forecast
Sales Forecast
Year 1
Year 2
Year 3
Unit Sales
Meals
Drinks
Other
Total Unit Sales
22,822
11,415
240
34,477
35,000
17,500
500
53,000
45,000
22,500
1,000
68,500
Unit Prices
Meals
Drinks
Other
Year 1
$15.00
$2.00
$10.00
Year 2
$15.00
$2.00
$10.00
Year 3
$15.00
$2.00
$10.00
Sales
Meals
Drinks
$342,330
$22,830
$525,000
$35,000
$675,000
$45,000
Other
Total Sales
$2,400
$367,560
$5,000
$565,000
$10,000
$730,000
Year 1
$2.00
$0.50
Year 2
$2.00
$0.50
Year 3
$2.00
$0.50
$1.00
$1.00
$1.00
$45,644
$5,708
$240
$51,592
$70,000
$8,750
$500
$79,250
$90,000
$11,250
$1,000
$102,250
Page 9
Studio67 - Restaurant
Table:
Perso
nnel
Personnel Plan
Manager
Hostess
Chef
Cleaning
Waiters
Year 1
$60,000
$42,000
$54,000
$30,000
$72,000
Year 2
$65,000
$45,000
$60,000
$35,000
$100,000
Other
Total People
$24,000
8
$52,000
10
Total Payroll
$282,000
$357,000
P
a
g
e
1
0
Studio67 - Restaurant
7.0 Financial Plan
We expect to raise $40,000 of our own capital, and to borrow $100,000 guaranteed by
the SBA as a 10-year loan. This provides the bulk of the start-up financing required.
3,205
$34,171
Assumptions:
Average Per-Unit Revenue
Average Per-Unit Variable Cost
Estimated Monthly Fixed Cost
$10.66
$1.50
$29,375
Page 11
Studio67 - Restaurant
7.2 Projected Profit and Loss
As the profit and loss table shows, we expect to become barely profitable in the second
year of business, and to make an acceptable profit in the third year.
Page 12
Studio67 - Restaurant
Table:
Profit
and
Loss
Year 1
$367,560
$51,592
$0
$51,592
Year 2
$565,000
$79,250
$0
$79,250
Year 3
$730,000
$102,250
$0
$102,250
Gross Margin
Gross Margin %
$315,969
85.96%
$485,750
85.97%
$627,750
85.99%
Expenses
Payroll
Sales and Marketing and Other Expenses
Depreciation
Utilities
Payroll Taxes
Other
$282,000
$27,000
$0
$1,200
$42,300
$0
$357,000
$35,830
$0
$1,260
$53,550
$0
$410,000
$72,122
$0
$1,323
$61,500
$0
$352,500
$447,640
$544,945
($36,532)
($36,532)
$9,673
$0
$38,110
$38,110
$8,887
$7,306
$82,806
$82,806
$7,637
$19,105
Net Profit
Net Profit/Sales
($46,204)
-12.57%
$21,917
3.88%
$56,063
7.68%
P
a
g
e
1
3
Studio67 - Restaurant
7.3 Projected Cash Flow
The cash flow projection shows that starting cost and provisions for ongoing expenses are
adequate to meet our needs until the business itself generates its own cash flow sufficient to
support operations.
Year 2
Year 3
$367,560
$367,560
$565,000
$565,000
$730,000
$730,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$367,560
$0
$0
$0
$565,000
$0
$0
$0
$730,000
Year 1
Year 2
Year 3
$282,000
$357,000
$410,000
Bill Payments
Subtotal Spent on Operations
$117,968
$399,968
$185,584
$542,584
$257,538
$667,538
$0
$0
$0
$0
$0
$0
$0
$6,133
$0
$0
$0
$406,101
$0
$10,000
$0
$0
$0
$552,584
$0
$15,000
$0
$0
$0
$682,538
($38,541)
$49,459
$12,416
$61,875
$47,462
$109,337
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
Page 14
Studio67 - Restaurant
Page 15
Studio67 - Restaurant
7.4 Projected Balance Sheet
The table shows projected balance sheet for three years.
Year 2
Year 3
Current Assets
Cash
Other Current Assets
Total Current Assets
$49,459
$50,000
$99,459
$61,875
$50,000
$111,875
$109,337
$50,000
$159,337
Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
$0
$0
$0
$99,459
$0
$0
$0
$111,875
$0
$0
$0
$159,337
Year 1
Year 2
Year 3
Current Liabilities
Accounts Payable
$14,796
$15,294
$21,693
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$0
$0
$14,796
$0
$0
$15,294
$0
$0
$21,693
$93,867
$108,663
$83,867
$99,161
$68,867
$90,560
$40,000
($3,000)
$40,000
($49,204)
$40,000
($27,287)
($46,204)
($9,204)
$99,459
$21,917
$12,713
$111,875
$56,063
$68,776
$159,337
($9,204)
$12,713
$68,776
Assets
Long-term Liabilities
Total Liabilities
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
Net Worth
Page 16
Studio67 - Restaurant
Table
:
Ratio
s
Ratio Analysis
Year 1
n.a.
Year 2
53.72%
50.27%
100.00%
44.69%
100.00%
Long-term Assets
Total Assets
0.00%
100.00%
0.00%
100.00%
Current Liabilities
Long-term Liabilities
Total Liabilities
14.88%
94.38%
109.25%
13.67%
74.97%
88.64%
-9.25%
11.36%
100.00%
85.96%
98.90%
100.00%
85.97%
82.32%
0.65%
-9.94%
1.77%
6.75%
6.72
6.72
7.31
7.31
109.25%
501.98%
-46.46%
88.64%
229.87%
26.12%
Additional Ratios
Net Profit Margin
Return on Equity
Year 1
-12.57%
0.00%
Year 2
3.88%
172.40%
Activity Ratios
Accounts Payable Turnover
Payment Days
Total Asset Turnover
8.91
27
3.70
12.17
30
5.05
Debt Ratios
Debt to Net Worth
Current Liab. to Liab.
0.00
0.14
7.80
0.15
$84,663
-3.78
$96,580
4.29
Additional Ratios
Assets to Sales
Current Debt/Total Assets
0.27
15%
0.20
14%
Acid Test
Sales/Net Worth
Dividend Payout
6.72
0.00
0.00
7.31
44.44
0.00
Sales Growth
Net Worth
Percent of Sales
Sales
Gross Margin
Selling, General & Administrative Expenses
Advertising Expenses
Profit Before Interest and Taxes
Main Ratios
Current
Quick
Liquidity Ratios
Net Working Capital
Interest Coverage
Page 17
Appendix
Table: Sales Forecast
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
779
390
1,053
527
1,505
753
1,553
777
1,652
826
1,633
817
1,173
587
1,520
760
2,066
1,033
2,602
1,301
3,451
1,726
3,835
1,918
Unit Sales
Meals
Drinks
0%
50%
Other
0%
20
20
20
20
20
20
20
20
20
20
20
20
1,189
1,600
2,278
2,350
2,498
2,470
1,780
2,300
3,119
3,923
5,197
5,773
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Meals
Drinks
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
$15.00
$2.00
Other
$10.00
$10.00
$10.00
$10.00
$10.00
$10.00
$10.00
$10.00
$10.00
$10.00
$10.00
$10.00
$11,685
$780
$15,795
$1,054
$22,575
$1,506
$23,295
$1,554
$24,780
$1,652
$24,495
$1,634
$17,595
$1,174
$22,800
$1,520
$30,990
$2,066
$39,030
$2,602
$51,765
$3,452
$57,525
$3,836
Sales
Meals
Drinks
Other
Total Sales
Direct Unit Costs
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$200
$12,665
$17,049
$24,281
$25,049
$26,632
$26,329
$18,969
$24,520
$33,256
$41,832
$55,417
$61,561
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Meals
Drinks
0.00%
0.00%
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
$2.00
$0.50
Other
0.00%
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
$1,558
$195
$2,106
$264
$3,010
$377
$3,106
$389
$3,304
$413
$3,266
$409
$2,346
$294
$3,040
$380
$4,132
$517
$5,204
$651
$6,902
$863
$7,670
$959
Page 1
$20
$20
$20
$20
$20
$20
$20
$20
$20
$20
$20
$20
$1,773
$2,390
$3,407
$3,515
$3,737
$3,695
$2,660
$3,440
$4,669
$5,875
$7,785
$8,649
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
Manager
Hostess
0%
0%
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
$5,000
$3,500
Chef
0%
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
$4,500
Cleaning
Waiters
0%
0%
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
$2,500
$6,000
Other
0%
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
$2,000
Total People
Total Payroll
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
Page 2
Appendix
Table: General Assumptions
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
Current Interest Rate
1
10.00%
2
10.00%
3
10.00%
4
10.00%
5
10.00%
6
10.00%
7
10.00%
8
10.00%
9
10.00%
10
10.00%
11
10.00%
12
10.00%
10.00%
30.00%
10.00%
25.00%
10.00%
25.00%
10.00%
25.00%
10.00%
25.00%
10.00%
25.00%
10.00%
25.00%
10.00%
25.00%
10.00%
25.00%
10.00%
25.00%
10.00%
25.00%
10.00%
25.00%
Other
Page 3
Appendix
Table: Profit and Loss
Pro Forma Profit and Loss
Month 1
$12,665
Month 2
$17,049
Month 3
$24,281
Month 4
$25,049
Month 5
$26,632
Month 6
$26,329
Month 7
$18,969
Month 8
$24,520
Month 9
$33,256
Month 10
$41,832
Month 11
$55,417
Month 12
$61,561
$1,773
$0
$2,390
$0
$3,407
$0
$3,515
$0
$3,737
$0
$3,695
$0
$2,660
$0
$3,440
$0
$4,669
$0
$5,875
$0
$7,785
$0
$8,649
$0
$1,773
$2,390
$3,407
$3,515
$3,737
$3,695
$2,660
$3,440
$4,669
$5,875
$7,785
$8,649
$10,892
86.00%
$14,660
85.98%
$20,875
85.97%
$21,535
85.97%
$22,895
85.97%
$22,635
85.97%
$16,310
85.98%
$21,080
85.97%
$28,588
85.96%
$35,958
85.96%
$47,632
85.95%
$52,912
85.95%
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
$23,500
$2,250
Sales
Gross Margin
Gross Margin %
Expenses
Payroll
Sales and Marketing and Other
Expenses
Depreciation
Utilities
5%
5%
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
$0
$100
Payroll Taxes
15%
$3,525
$3,525
$3,525
$3,525
$3,525
$3,525
$3,525
$3,525
$3,525
$3,525
$3,525
$3,525
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$29,375
$29,375
$29,375
$29,375
$29,375
$29,375
$29,375
$29,375
$29,375
$29,375
$29,375
$29,375
($18,483)
($14,716)
($8,501)
($7,841)
($6,480)
($6,741)
($13,066)
($8,295)
($788)
$6,583
$18,257
$23,537
EBITDA
($18,483)
($14,716)
($8,501)
($7,841)
($6,480)
($6,741)
($13,066)
($8,295)
($788)
$6,583
$18,257
$23,537
$829
$0
$825
$0
$821
$0
$817
$0
$813
$0
$808
$0
$804
$0
$800
$0
$795
$0
$791
$0
$787
$0
$782
$0
Net Profit
($19,312)
($15,541)
($9,322)
($8,657)
($7,293)
($7,549)
($13,870)
($9,095)
($1,583)
$5,791
$17,470
$22,755
Net Profit/Sales
-152.49%
-91.15%
-38.39%
-34.56%
-27.38%
-28.67%
-73.12%
-37.09%
-4.76%
13.84%
31.53%
36.96%
Other
Total Operating Expenses
Interest Expense
Taxes Incurred
Page 4
Appendix
Table: Cash Flow
Pro Forma Cash Flow
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
$12,665
$17,049
$24,281
$25,049
$26,632
$26,329
$18,969
$24,520
$33,256
$41,832
$55,417
$61,561
$12,665
$17,049
$24,281
$25,049
$26,632
$26,329
$18,969
$24,520
$33,256
$41,832
$55,417
$61,561
Cash Received
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
0.00%
$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
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$12,665
$17,049
$24,281
$25,049
$26,632
$26,329
$18,969
$24,520
$33,256
$41,832
$55,417
$61,561
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
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$23,500
$1,283
$8,498
$9,123
$10,106
$10,214
$10,423
$10,343
$9,365
$10,156
$11,379
$12,604
$14,475
$24,783
$31,998
$32,623
$33,606
$33,714
$33,923
$33,843
$32,865
$33,656
$34,879
$36,104
$37,975
$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
$488
$0
$492
$0
$496
$0
$500
$0
$505
$0
$509
$0
$513
$0
$517
$0
$522
$0
$526
$0
$530
$0
$535
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Dividends
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$25,271
$32,490
$33,119
$34,106
$34,219
$34,432
$34,356
$33,382
$34,178
$35,405
$36,634
$38,510
($12,606)
($15,441)
($8,838)
($9,057)
($7,587)
($8,103)
($15,387)
($8,862)
($922)
$6,427
$18,783
$23,051
$75,394
$59,954
$51,115
$42,058
$34,472
$26,369
$10,981
$2,120
$1,198
$7,625
$26,408
$49,459
Page 5
Appendix
Table: Balance Sheet
Pro Forma Balance Sheet
Assets
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Starting Balances
Current Assets
Cash
Other Current Assets
$88,000
$50,000
$75,394
$50,000
$59,954
$50,000
$51,115
$50,000
$42,058
$50,000
$34,472
$50,000
$26,369
$50,000
$10,981
$50,000
$2,120
$50,000
$1,198
$50,000
$7,625
$50,000
$26,408
$50,000
$49,459
$50,000
$138,000
$125,394
$109,954
$101,115
$92,058
$84,472
$76,369
$60,981
$52,120
$51,198
$57,625
$76,408
$99,459
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
$0
$138,000
$0
$125,394
$0
$109,954
$0
$101,115
$0
$92,058
$0
$84,472
$0
$76,369
$0
$60,981
$0
$52,120
$0
$51,198
$0
$57,625
$0
$76,408
$0
$99,459
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Long-term Assets
$1,000
$8,195
$8,787
$9,766
$9,866
$10,077
$10,032
$9,027
$9,778
$10,961
$12,123
$13,965
$14,796
Current Borrowing
$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
$1,000
$8,195
$8,787
$9,766
$9,866
$10,077
$10,032
$9,027
$9,778
$10,961
$12,123
$13,965
$14,796
$100,000
$99,512
$99,020
$98,524
$98,024
$97,519
$97,010
$96,497
$95,980
$95,458
$94,932
$94,402
$93,867
Total Liabilities
$101,000
$107,707
$107,807
$108,290
$107,890
$107,596
$107,042
$105,524
$105,758
$106,419
$107,055
$108,367
$108,663
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
$40,000
($3,000)
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
Net Worth
Page 6
$0
($19,312)
($34,853)
($44,174)
($52,832)
($60,124)
($67,673)
($81,543)
($90,638)
($92,221)
($86,429)
($68,959)
($46,204)
$37,000
$138,000
$17,688
$125,394
$2,147
$109,954
($7,174)
$101,115
($15,832)
$92,058
($23,124)
$84,472
($30,673)
$76,369
($44,543)
$60,981
($53,638)
$52,120
($55,221)
$51,198
($49,429)
$57,625
($31,959)
$76,408
($9,204)
$99,459
$37,000
$17,688
$2,147
($7,174)
($15,832)
($23,124)
($30,673)
($44,543)
($53,638)
($55,221)
($49,429)
($31,959)
($9,204)