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Cover Page
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Table of Contents
Table of Contents
Page 2
FynbosFarm
Tomatoes: 4ha under plastic which will produce 2100 000 kgs per year
Cucumbers: 1ha under plastic which will produce 205 000 kgs per year
Peppers: 1ha under plastic which will produce 250 000 kgs per year
Turf: 30ha in the open.
Financial considerations
The company is seeking both short-term and long-term funding to finance the purchase of a
new farm and development costs of the project. This will cover startup expenses and first year
loses. It is estimated that the company will begin to make a profit in year 2 of operations. The
project is expected to begin production within 8 months from start of the first tunnel being
erected.
Page 1
FynbosFarm
Chart: Highlights
Highlights
R16,000,000
R14,000,000
R12,000,000
Sales
R10,000,000
Gross Margin
R8,000,000
Net Profit
R6,000,000
R4,000,000
R2,000,000
R0
Year 1
Year 2
Year 3
Year 4
Year 5
1.1 Objectives
The objective of this project is to establish an intensive farm, producing high-quality produce
for both the national and international market year round.
1.2 Mission
FynbosFarm is a KZN-based company with a two-fold mission:
to produce high quality, nutritional, and flavourful vegetables for consumption in both local
and international markets.
to create opportunities for leadership and highly productive teamwork for local women who
work on the farm.
The women working on the farm will be organized into intensive work groups, and each
group will be paid incentives on production and performances, in addition to the standard
wages.
1.3 Keys to Success
Page 2
FynbosFarm
An additional portion of the operation will be the growing of instant lawn. Local landscape
operations have trouble with meeting the demands of instant turf supply, and the company has
recognised the need in the market. The company plans to supply the local nurseries and
landscapers with top quality, premium garden lawn.
The largest portion of the start-up requirements is for purchase of the site and construction of
the necessary buildings and infrastructure, including well-digging. These are listed below as
long-term assets.
Page 3
FynbosFarm
The start-up period is five months long, and includes construction and one and a half months
for growing the first crops, to be sold beginning in July.
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal
Borehole testing
Seedlings
Sawdust
Plant bags
Twine and clips
Site leveling
Other
Total Start-up Expenses
R70,000
R10,000
R128,000
R155,000
R57,753
R28,000
R250,000
R95,000
R793,753
Start-up Assets
Cash Required
Other Current Assets
Long-term Assets
Total Assets
R5,000
R0
R20,000,000
R20,005,000
Total Requirements
R20,798,753
Chart: Start-up
Start-up
R21,000,000
R18,000,000
R15,000,000
R12,000,000
R9,000,000
R6,000,000
R3,000,000
R0
Expenses
Assets
Investment
Loans
Page 4
FynbosFarm
3.0 Products
Hydroponics is the production of vegetables in state-of-the-art, temperature-controlled, multispan tunnels. The structures being used are richelle multi-spans, which come complete with
computer temperature sensors, automatic opening and closing vents, automatic misting units
and temperature controlled fans. The advantages of growing in high-tech tunnels are:
Vegetables
FynbosFarm's first line of production will be tomatoes, peppers and cucumbers. The farm will
have the capacity sufficient to produce in excess of 2 550 000 kg of vegetables per year.
Instant lawn
The company's outdoor horticultural aspects include the production of 30ha of instant lawn. The
company will sell between 20 - 25ha per annum.
Research and development
The company will seek contact with local and international companies in order to learn about
and acquire new hybrids of vegetables that are hardier and grow faster in our local climate.
These and other available species and systems will be constantly tracked. In addition to the
above, the company will seek contacts at universities and researchers that are involved in
greens, and will continue the quest for the best flavoured, large, and firm vegetable throughout
the year.
Future product plans
In the future the company would like to explore the possibility of flower production.
FynbosFarm believes this to be a high revenue venture, which, if successful, could become our
number one endeavour.
We are also considering the production of bananas. Currently there is a huge shortage of
bananas, and the selling price has been above average for the past 2 years.
Page 5
FynbosFarm
Market Analysis
Potential Customers
Retail outlets
vegcities
Other
Total
Year 1
Year 2
Year 3
Year 4
Year 5
100
20
50
170
125
22
63
210
156
24
79
259
195
26
99
320
244
29
124
397
Growth
25%
10%
25%
23.62%
CAGR
24.98%
9.73%
25.49%
23.62%
Retail outlets
vegcities
Other
Page 6
FynbosFarm
Selected Markets. Due to high quality, vegetables must be sold retail outlets, etc. to
retrieve highest price.
Project size. The project must be able to supply produce all year round; if not, retail
outlets will not be interested.
The Industry is still small, and therefore a project of this magnitude will create interest among
all the major veg outlet markets.
4.3.1 Competition and Buying Patterns
FynbosFarm aims to be the biggest growers of hydroponics in the KZN region. At present there
are very few big growers, minimizing the competition. The advantage of hydroponics on a large
scale is the availability to produce vegetables all year round in large quantities. This
immediately becomes a positive factor with major retail outlets and exporters.
5.0 Strategy and Implementation Summary
The FynbosFarm group strategy is to profitably and efficiently utilize present and future
agricultural technology in the production of vegetables. The company, by developing a
profitable vegetable farm with all the necessary custom-innovated equipment, will gain a
significant industry advantage.
Additional application and utilization of horticultural technology in the production of vegetables
will double utilization of the climate controlled portion of the overhead.
The company's goals in the first year are to:
Develop
To have
To have
To have
The company's long term plan is to also produce more selective vegetables as well as looking
to get into the fresh flower market.
Page 7
FynbosFarm
Page 8
FynbosFarm
Sales Forecast
Year 1
Year 2
Year 3
Year 4
Year 5
2,100,000
205,000
250,000
150,000
2,705,000
1,500,000
210,000
250,000
200,000
2,160,000
2,100,000
205,000
250,000
200,000
2,755,000
1,500,000
210,000
250,000
200,000
2,160,000
2,100,000
205,000
250,000
200,000
2,755,000
Year 1
R4.00
R10.00
R1.80
R10.00
Year 2
R4.25
R10.50
R1.90
R11.00
Year 3
R4.50
R11.00
R2.10
R12.00
Year 4
R4.75
R11.50
R2.20
R13.00
Year 5
R5.00
R12.00
R2.30
R14.00
R8,400,000
R2,050,000
R450,000
R1,500,000
R12,400,000
R6,375,000
R2,205,000
R475,000
R2,200,000
R11,255,000
R9,450,000
R2,255,000
R525,000
R2,400,000
R14,630,000
R7,125,000
R2,415,000
R550,000
R2,600,000
R12,690,000
R10,500,000
R2,460,000
R575,000
R2,800,000
R16,335,000
Year 1
R2.00
R5.00
R0.90
R4.80
Year 2
R2.13
R5.25
R0.95
R5.28
Year 3
R2.25
R5.50
R1.05
R5.76
Year 4
R2.38
R5.75
R1.10
R6.24
Year 5
R2.50
R6.00
R1.15
R6.72
R4,200,000
R1,025,000
R225,000
R720,000
R6,170,000
R3,187,500
R1,102,500
R237,500
R1,056,000
R5,583,500
R4,725,000
R1,127,500
R262,500
R1,152,000
R7,267,000
R3,562,500
R1,207,500
R275,000
R1,248,000
R6,293,000
R5,250,000
R1,230,000
R287,500
R1,344,000
R8,111,500
Unit Sales
Tomatoes
Peppers
Cucumbers
Instant Turf
Total Unit Sales
Unit Prices
Tomatoes
Peppers
Cucumbers
Instant Turf
Sales
Tomatoes
Peppers
Cucumbers
Instant Turf
Total Sales
Direct Unit Costs
Tomatoes
Peppers
Cucumbers
Instant Turf
Direct Cost of Sales
Tomatoes
Peppers
Cucumbers
Instant Turf
Subtotal Direct Cost of Sales
Page 9
FynbosFarm
Sales Monthly
R2,000,000
R1,800,000
R1,600,000
R1,400,000
Tomatoes
R1,200,000
Peppers
R1,000,000
Cucumbers
R800,000
Instant Turf
R600,000
R400,000
R200,000
Month 12
Month 11
Month 10
Month 9
Month 8
Month 7
Month 6
Month 5
Month 4
Month 3
Month 2
Month 1
R0
Sales by Year
R16,000,000
R14,000,000
R12,000,000
Tomatoes
R10,000,000
Peppers
R8,000,000
Cucumbers
R6,000,000
Instant Turf
R4,000,000
R2,000,000
R0
Year 1
Year 2
Year 3
Year 4
Year 5
5.4 Milestones
The following table and chart show the main milestones for the first year.
Page 10
FynbosFarm
Chart: Milestones
Milestones
Raise funding
Begin Construction
Begin Sales
Q2
Q3
Q4
Q1 `06
Q2
Table: Milestones
Milestones
Milestone
Raise funding
Begin Construction
Begin First Crop Planting
Begin Sales
Begin Turf Sales
Total Sales over R12 Million
Totals
Start Date
11/1/2004
2/1/2005
5/10/2005
7/1/2005
10/1/2005
7/1/2005
End Date
1/15/2005
2/5/2005
5/15/2005
7/10/2005
10/10/2005
6/30/2006
Budget
R0
R15,000,000
R5,000,000
R0
R0
R0
R20,000,000
Manager
ABC
ABC
ABC
ABC
ABC
ABC
Department
Department
Department
Department
Department
Department
Department
Page 11
FynbosFarm
Table: Personnel
Personnel Plan
Year 1
Year 2
Year 3
Year 4
Year 5
Project manager
Consultant
Total People
R420,000
R60,000
2
R420,000
R63,000
2
R453,600
R66,150
2
R489,888
R69,457
2
R529,079
R72,930
2
Total Payroll
R480,000
R483,000
R519,750
R559,345
R602,009
Page 12
FynbosFarm
R793,753
R20,005,000
R20,798,753
Assets
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Total Assets
R20,000,000
R5,000
R0
R5,000
R20,005,000
R0
R18,000,000
R0
R0
R18,000,000
Capital
Planned Investment
Owners
Investor
Additional Investment Requirement
Total Planned Investment
R2,798,753
R0
R0
R2,798,753
(R793,753)
R2,005,000
R20,005,000
Total Funding
R20,798,753
Page 13
FynbosFarm
Break-even Analysis
Monthly Units Break-even
Monthly Revenue Break-even
57,047
R261,511
Assumptions:
Average Per-Unit Revenue
Average Per-Unit Variable Cost
Estimated Monthly Fixed Cost
R4.58
R2.28
R131,388
Break-even Analysis
R120,000
R90,000
R60,000
R30,000
R0
(R30,000)
(R60,000)
(R90,000)
(R120,000)
0
20000
10000
40000
30000
60000
50000
80000
70000
100000
90000
110000
Page 14
FynbosFarm
Year 2
Year 3
Year 4
Year 5
R12,400,000
R6,170,000
R0
R6,170,000
R11,255,000
R5,583,500
R0
R5,583,500
R14,630,000
R7,267,000
R0
R7,267,000
R12,690,000
R6,293,000
R0
R6,293,000
R16,335,000
R8,111,500
R0
R8,111,500
R6,230,000
50.24%
R5,671,500
50.39%
R7,363,000
50.33%
R6,397,000
50.41%
R8,223,500
50.34%
R480,000
R10,000
R666,660
R120,000
R100,000
R20,000
R0
R180,000
R483,000
R10,500
R666,700
R120,600
R105,000
R21,000
R0
R189,000
R519,750
R11,025
R666,700
R121,203
R110,250
R22,050
R0
R198,450
R559,345
R11,907
R666,700
R121,203
R115,726
R23,153
R0
R208,373
R602,009
R12,860
R666,700
R120,600
R121,550
R24,310
R0
R218,719
R1,576,660
R1,595,800
R1,649,428
R1,706,407
R1,766,748
R4,653,340
R5,320,000
R1,759,750
R868,077
R4,075,700
R4,742,400
R1,663,000
R723,810
R5,713,572
R6,380,272
R1,550,500
R1,248,922
R4,690,593
R5,357,293
R1,413,000
R983,278
R6,456,752
R7,123,452
R1,138,000
R1,595,626
Net Profit
Net Profit/Sales
R2,025,513
16.33%
R1,688,890
15.01%
R2,914,150
19.92%
R2,294,315
18.08%
R3,723,126
22.79%
Sales
Direct Cost of Sales
Other Costs of Sales
Total Cost of Sales
Gross Margin
Gross Margin %
Expenses
Payroll
Marketing/Promotion
Depreciation
H.P.s
Fuel
maintenance
Payroll Taxes
Other
Profit Monthly
R450,000
R400,000
R350,000
R300,000
R250,000
R200,000
R150,000
R100,000
R50,000
R0
Month 1
Month 3
Month 5
Month 7
Month 9
Month 11
Month 2
Month 4
Month 6
Month 8
Month 10
Month 12
Page 15
FynbosFarm
Profit Yearly
R4,000,000
R3,600,000
R3,200,000
R2,800,000
R2,400,000
R2,000,000
R1,600,000
R1,200,000
R800,000
R400,000
R0
Year 1
Year 2
Year 3
Year 4
Year 5
Page 16
FynbosFarm
Year 2
Year 3
Year 4
Year 5
Chart: Cash
Cash
R1,600,000
R1,400,000
R1,200,000
R1,000,000
R800,000
Cash Balance
R600,000
R400,000
R200,000
Month 12
Month 11
Month 10
Month 9
Month 8
Month 7
Month 6
Month 5
Month 4
Month 3
Month 2
Month 1
R0
Page 17
FynbosFarm
Year 2
Year 3
Year 4
Year 5
R1,860,000
R9,471,833
R11,331,833
R1,688,250
R9,665,383
R11,353,633
R2,194,500
R12,144,769
R14,339,269
R1,903,500
R10,953,616
R12,857,116
R2,450,250
R13,570,761
R16,021,011
R0
R0
R0
R0
R0
R0
R0
R11,331,833
R0
R0
R0
R0
R0
R0
R0
R11,353,633
R0
R0
R0
R0
R0
R0
R0
R14,339,269
R0
R0
R0
R0
R0
R0
R0
R12,857,116
R0
R0
R0
R0
R0
R0
R0
R16,021,011
Year 1
Year 2
Year 3
Year 4
Year 5
R480,000
R8,317,863
R8,797,863
R483,000
R8,899,410
R9,382,410
R519,750
R10,090,933
R10,610,683
R559,345
R9,728,985
R10,288,330
R602,009
R10,716,935
R11,318,944
R0
R0
R0
R870,000
R0
R0
R0
R9,667,863
R0
R0
R0
R1,000,000
R0
R0
R0
R10,382,410
R0
R0
R0
R1,250,000
R0
R0
R0
R11,860,683
R0
R0
R0
R1,500,000
R0
R0
R0
R11,788,330
R0
R0
R0
R4,000,000
R0
R0
R0
R15,318,944
R1,663,970
R1,668,970
R971,223
R2,640,193
R2,478,586
R5,118,779
R1,068,786
R6,187,566
R702,067
R6,889,633
Cash Received
Cash from Operations
Cash Sales
Cash from Receivables
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
Page 18
FynbosFarm
Year 2
Year 3
Year 4
Year 5
R1,668,970
R1,068,167
R0
R2,737,137
R2,640,193
R969,534
R0
R3,609,727
R5,118,779
R1,260,264
R0
R6,379,044
R6,187,566
R1,093,148
R0
R7,280,714
R6,889,633
R1,407,137
R0
R8,296,770
R20,000,000
R666,660
R19,333,340
R22,070,477
R20,000,000
R1,333,360
R18,666,640
R22,276,367
R20,000,000
R2,000,060
R17,999,940
R24,378,984
R20,000,000
R2,666,760
R17,333,240
R24,613,954
R20,000,000
R3,333,460
R16,666,540
R24,963,310
Year 1
Year 2
Year 3
Year 4
Year 5
R909,964
R0
R0
R909,964
R426,964
R0
R0
R426,964
R865,430
R0
R0
R865,430
R306,085
R0
R0
R306,085
R932,315
R0
R0
R932,315
Long-term Liabilities
Total Liabilities
R17,130,000
R18,039,964
R16,130,000
R16,556,964
R14,880,000
R15,745,430
R13,380,000
R13,686,085
R9,380,000
R10,312,315
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
R2,798,753
(R793,753)
R2,025,513
R4,030,513
R22,070,477
R2,798,753
R1,231,760
R1,688,890
R5,719,403
R22,276,367
R2,798,753
R2,920,650
R2,914,150
R8,633,553
R24,378,984
R2,798,753
R5,834,800
R2,294,315
R10,927,869
R24,613,954
R2,798,753
R8,129,116
R3,723,126
R14,650,995
R24,963,310
R4,030,513
R5,719,403
R8,633,553
R10,927,868
R14,650,995
Assets
Current Assets
Cash
Accounts Receivable
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
Net Worth
Page 19
FynbosFarm
Table: Ratios
Ratio Analysis
Year 1
Year 2
Year 3
Year 4
Year 5
n.a.
-9.23%
29.99%
-13.26%
28.72%
Industry
Profile
-1.70%
Accounts Receivable
Other Current Assets
Total Current Assets
Long-term Assets
Total Assets
4.84%
0.00%
12.40%
87.60%
100.00%
4.35%
0.00%
16.20%
83.80%
100.00%
5.17%
0.00%
26.17%
73.83%
100.00%
4.44%
0.00%
29.58%
70.42%
100.00%
5.64%
0.00%
33.24%
66.76%
100.00%
2.94%
24.83%
39.79%
60.21%
100.00%
Current Liabilities
Long-term Liabilities
Total Liabilities
Net Worth
4.12%
77.61%
81.74%
18.26%
1.92%
72.41%
74.33%
25.67%
3.55%
61.04%
64.59%
35.41%
1.24%
54.36%
55.60%
44.40%
3.73%
37.58%
41.31%
58.69%
22.33%
22.42%
44.75%
55.25%
100.00%
50.24%
33.91%
100.00%
50.39%
35.39%
100.00%
50.33%
30.41%
100.00%
50.41%
32.33%
100.00%
50.34%
27.55%
100.00%
46.28%
29.76%
0.00%
37.53%
0.00%
36.21%
0.00%
39.05%
0.00%
36.96%
0.00%
39.53%
0.36%
0.30%
3.01
3.01
81.74%
71.79%
13.11%
8.45
8.45
74.33%
42.18%
10.83%
7.37
7.37
64.59%
48.22%
17.08%
23.79
23.79
55.60%
29.99%
13.32%
8.90
8.90
41.31%
36.30%
21.31%
1.08
0.38
54.22%
0.29%
0.63%
Sales Growth
Percent of Total Assets
Percent of Sales
Sales
Gross Margin
Selling, General & Administrative
Expenses
Advertising Expenses
Profit Before Interest and Taxes
Main Ratios
Current
Quick
Total Debt to Total Assets
Pre-tax Return on Net Worth
Pre-tax Return on Assets
Additional Ratios
Year 1
Year 2
Year 3
Year 4
Year 5
16.33%
50.25%
15.01%
29.53%
19.92%
33.75%
18.08%
21.00%
22.79%
25.41%
n.a
n.a
9.87
29
10.14
27
0.56
9.87
39
19.71
29
0.51
9.87
33
12.17
22
0.60
9.87
40
29.96
23
0.52
9.87
33
12.17
20
0.65
n.a
n.a
n.a
n.a
n.a
4.48
0.05
2.89
0.03
1.82
0.05
1.25
0.02
0.70
0.09
n.a
n.a
R1,827,173
2.64
R3,182,763
2.45
R5,513,613
3.68
R6,974,628
3.32
R7,364,455
5.67
n.a
n.a
1.78
4%
1.83
3.08
0.00
1.98
2%
6.18
1.97
0.00
1.67
4%
5.91
1.69
0.00
1.94
1%
20.22
1.16
0.00
1.53
4%
7.39
1.11
0.00
n.a
n.a
n.a
n.a
n.a
Activity Ratios
Accounts Receivable Turnover
Collection Days
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
Page 20
Appendix
Table: Sales Forecast
Sales Forecast
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
0
25,000
20,000
30,000
75,000
0
20,000
45,000
30,000
95,000
Month 9
Month 10
Month 11
Month 12
200,000
0
15,000
0
215,000
300,000
0
0
0
300,000
300,000
10,000
0
0
310,000
Month 10
Month 11
Month 12
Unit Sales
Tomatoes
Peppers
Cucumbers
Instant Turf
Total Unit Sales
0%
0%
0%
0%
100,000
10,000
20,000
0
130,000
200,000
15,000
45,000
0
260,000
300,000
20,000
45,000
0
365,000
300,000
30,000
15,000
30,000
375,000
200,000
30,000
0
30,000
260,000
100,000
30,000
0
30,000
160,000
100,000
15,000
45,000
0
160,000
Unit Prices
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Tomatoes
R4.00
R4.00
R4.00
R4.00
R4.00
R4.00
R4.00
R4.00
R4.00
R4.00
R4.00
R4.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
Peppers
Cucumbers
R1.80
R1.80
R1.80
R1.80
R1.80
R1.80
R1.80
R1.80
R1.80
R1.80
R1.80
R1.80
Instant Turf
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
R10.00
Tomatoes
R400,000
R800,000
R800,000
R400,000
R0
R0
R400,000
R800,000
Peppers
Sales
R1,200,00
0
R200,000
R1,200,00
0
R300,000
R1,200,00
0
R0
R100,000
R150,000
R300,000
R300,000
R250,000
R200,000
R150,000
R0
Cucumbers
R36,000
R81,000
R81,000
R27,000
R0
R0
R36,000
R81,000
R81,000
R27,000
R0
Instant Turf
R0
R0
R0
R300,000
R300,000
R300,000
R300,000
R300,000
R0
R0
R0
R586,000
R581,000
R631,000
R827,000
Total Sales
R536,000
50.00%
50.00%
50.00%
48.00%
R1,200,00
0
R100,000
R0
R0
R1,031,00
0
R1,481,00
0
R1,827,00
0
R1,400,00
0
R1,000,00
0
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
R2.00
R5.00
R0.90
R4.80
Month 10
R1,200,00
0
R1,300,00
0
Month 11
Month 12
R200,000
R400,000
R600,000
R600,000
R400,000
R200,000
R0
R0
R200,000
R400,000
R600,000
R600,000
Peppers
R50,000
R75,000
R100,000
R150,000
R150,000
R150,000
R125,000
R100,000
R75,000
R0
R0
R50,000
Cucumbers
R18,000
R40,500
R40,500
R13,500
R0
R0
R18,000
R40,500
R40,500
R13,500
R0
R0
Instant Turf
R0
R0
R0
R144,000
R144,000
R144,000
R144,000
R144,000
R0
R0
R0
R0
R268,000
R515,500
R740,500
R907,500
R694,000
R494,000
R287,000
R284,500
R315,500
R413,500
R600,000
R650,000
Page 1
Appendix
Table: Personnel
Personnel Plan
Month 1
Project manager
Consultant
Total People
Total Payroll
0%
0%
Month 10
Month 11
Month 12
R35,000
R5,000
2
R35,000
R5,000
2
Month 2
R35,000
R5,000
2
Month 3
R35,000
R5,000
2
Month 4
R35,000
R5,000
2
Month 5
R35,000
R5,000
2
Month 6
R35,000
R5,000
2
Month 7
R35,000
R5,000
2
Month 8
R35,000
R5,000
2
Month 9
R35,000
R5,000
2
R35,000
R5,000
2
R35,000
R5,000
2
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
Page 2
Appendix
Table: Profit and Loss
R536,000
R268,000
Month 2
Month 3
Month 4
Month 5
Month 6
R1,031,00
0
R515,500
R1,481,00
0
R740,500
R1,827,00
0
R907,500
R1,400,00
0
R694,000
R1,000,00
0
R494,000
Month 7
Month 8
Month 9
Month 10
R586,000
R581,000
R631,000
R827,000
R413,500
Month 11
Month 12
R1,200,00
0
R600,000
R1,300,00
0
R650,000
R287,000
R284,500
R315,500
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R268,000
R515,500
R740,500
R907,500
R694,000
R494,000
R287,000
R284,500
R315,500
R413,500
R600,000
R650,000
Gross Margin
R268,000
R515,500
R740,500
R919,500
R706,000
R506,000
R299,000
R296,500
R315,500
R413,500
R600,000
R650,000
50.00%
50.00%
50.00%
50.33%
50.43%
50.60%
51.02%
51.03%
50.00%
50.00%
50.00%
50.00%
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
Gross Margin %
Expenses
Payroll
Marketing/Promotion
R833
R833
R833
R833
R833
R833
R833
R833
R833
R833
R833
R833
Depreciation
R55,555
R55,555
R55,555
R55,555
R55,555
R55,555
R55,555
R55,555
R55,555
R55,555
R55,555
R55,555
H.P.s
R10,000
R10,000
R10,000
R10,000
R10,000
R10,000
R10,000
R10,000
R10,000
R10,000
R10,000
R10,000
Fuel
R8,333
R8,333
R8,333
R8,333
R8,333
R8,333
R8,333
R8,333
R8,333
R8,333
R8,333
R8,333
maintenance
R1,667
R1,667
R1,667
R1,667
R1,667
R1,667
R1,667
R1,667
R1,667
R1,667
R1,667
R1,667
R0
R15,000
R0
R15,000
R0
R15,000
R0
R15,000
R0
R15,000
R0
R15,000
R0
R15,000
R0
R15,000
R0
R15,000
R0
R15,000
R0
R15,000
R0
R15,000
R131,388
R131,388
R131,388
R131,388
R131,388
R131,388
R131,388
R131,388
R131,388
R131,388
R131,388
R131,388
R136,612
R384,112
R609,112
R788,112
R574,612
R374,612
R167,612
R165,112
R184,112
R282,112
R468,612
R518,612
R192,167
R439,667
R664,667
R843,667
R630,167
R430,167
R223,167
R220,667
R239,667
R337,667
R524,167
R574,167
R149,750
R149,500
R149,000
R148,500
R148,000
R147,250
R146,500
R145,750
R145,000
R144,250
R143,500
R142,750
(R3,942)
R70,383
R138,033
R191,883
R127,983
R68,208
R6,333
R5,808
R11,733
R41,358
R97,533
R112,758
(R9,197)
R164,228
R322,078
R447,728
R298,628
R159,153
R14,778
R13,553
R27,378
R96,503
R227,578
R263,103
-1.72%
15.93%
21.75%
24.51%
21.33%
15.92%
2.52%
2.33%
4.34%
11.67%
18.96%
20.24%
Payroll Taxes
Other
Interest Expense
Taxes Incurred
Net Profit
Net Profit/Sales
15%
Page 3
Appendix
Table: Cash Flow
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Cash Received
Cash from Operations
Cash Sales
R80,400
R154,650
R222,150
R274,050
R210,000
R150,000
R87,900
R87,150
R94,650
R124,050
R180,000
R195,000
R15,187
R469,625
R889,100
R495,267
R541,903
R713,518
R624,275
R1,111,25
0
R1,178,66
7
R1,328,66
7
R497,958
R95,587
R1,540,85
2
R1,750,85
2
R838,270
R1,268,65
3
R1,542,70
3
R926,170
R585,108
R589,917
R665,953
R893,518
R1,022,83
3
R1,217,83
3
0.00%
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R926,170
R585,108
R589,917
R665,953
R893,518
Expenditures
R95,587
Month 1
R624,275
R1,111,25
0
R1,542,70
3
R1,750,85
2
R1,328,66
7
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
R0
R1,217,83
3
Month 12
R40,000
R40,000
R40,000
Bill Payments
R14,988
R460,361
R780,955
R54,988
R500,361
R820,955
R40,000
R40,000
R1,070,71
2
R1,110,71
2
R1,274,45
4
R1,314,45
4
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R40,000
R997,133
R736,304
R475,541
R473,098
R512,296
R643,006
R879,016
R1,037,13
3
R776,304
R515,541
R513,098
R552,296
R683,006
R919,016
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R30,000
R30,000
R60,000
R60,000
R60,000
R90,000
R90,000
R90,000
R90,000
R90,000
R90,000
R90,000
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
R0
Page 4
Appendix
Dividends
R0
R0
R0
R84,988
R530,361
R880,955
R1,170,71
2
R0
R1,374,45
4
R0
R1,127,13
3
R0
R0
R0
R0
R0
R0
R866,304
R605,541
R603,098
R642,296
R773,006
R1,009,01
6
R10,599
R93,914
R230,295
R371,991
R376,398
R201,534
R59,866
(R20,433)
Cash Balance
R15,599
R109,513
R339,807
R711,799
R1,088,19
7
R1,289,73
1
R1,349,59
7
R1,329,16
4
R0
(R13,181)
R23,657
R120,512
R208,817
R1,315,98
3
R1,339,64
0
R1,460,15
3
R1,668,97
0
Page 5
Appendix
Table: Balance Sheet
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
R1,289,73
1
R821,667
R1,349,59
7
R481,497
R1,329,16
4
R477,388
R1,315,98
3
R518,472
R1,339,64
0
R679,518
R1,460,15
3
R986,000
R0
R2,111,39
8
R0
R1,831,09
3
R0
R1,806,55
2
R0
R1,834,45
5
R0
R2,019,15
9
R0
R2,446,15
3
R1,668,97
0
R1,068,16
7
R0
R2,737,13
7
Starting
Balances
Current Assets
Cash
R5,000
R15,599
R109,513
R339,807
R711,799
Accounts Receivable
R0
R440,413
R847,138
R0
R5,000
R0
R456,012
R0
R956,651
R1,216,88
8
R0
R1,556,69
6
R1,501,18
5
R0
R2,212,98
4
R1,088,19
7
R1,150,33
3
R0
R2,238,53
0
R20,000,0
00
R55,555
R19,944,4
45
R20,400,4
57
R20,000,0
00
R111,110
R19,888,8
90
R20,845,5
41
R20,000,0
00
R166,665
R19,833,3
35
R21,390,0
31
R20,000,0
00
R222,220
R19,777,7
80
R21,990,7
64
R20,000,0
00
R277,775
R19,722,2
25
R21,960,7
55
R20,000,0
00
R333,330
R19,666,6
70
R21,778,0
68
R20,000,0
00
R388,885
R19,611,1
15
R21,442,2
08
R20,000,0
00
R444,440
R19,555,5
60
R21,362,1
12
R20,000,0
00
R499,995
R19,500,0
05
R21,334,4
60
R20,000,0
00
R555,550
R19,444,4
50
R21,463,6
09
R20,000,0
00
R611,105
R19,388,8
95
R21,835,0
48
R20,000,0
00
R666,660
R19,333,3
40
R22,070,4
77
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
R1,027,92
1
R0
R0
R1,027,92
1
R1,240,92
6
R0
R0
R1,240,92
6
R972,290
R720,449
R459,811
R456,162
R491,131
R613,777
R847,638
R909,964
R0
R0
R972,290
R0
R0
R720,449
R0
R0
R459,811
R0
R0
R456,162
R0
R0
R491,131
R0
R0
R613,777
R0
R0
R847,638
R0
R0
R909,964
Long-term Assets
Long-term Assets
R20,000,000
Accumulated Depreciation
Total Long-term Assets
R0
R20,000,000
Total Assets
R20,005,000
R0
R434,654
R745,510
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
R0
R0
R0
R0
R0
R434,654
R0
R0
R745,510
Long-term Liabilities
R18,000,000
Total Liabilities
R18,000,000
R17,970,0
00
R18,404,6
54
R17,940,0
00
R18,685,5
10
R17,880,0
00
R18,907,9
21
R17,820,0
00
R19,060,9
26
R17,760,0
00
R18,732,2
90
R17,670,0
00
R18,390,4
49
R17,580,0
00
R18,039,8
11
R17,490,0
00
R17,946,1
62
R17,400,0
00
R17,891,1
31
R17,310,0
00
R17,923,7
77
R17,220,0
00
R18,067,6
38
R17,130,0
00
R18,039,9
64
R2,798,75
3
(R793,75
3)
(R9,197)
R2,798,75
3
(R793,75
3)
R155,031
R2,798,75
3
(R793,75
3)
R477,109
R2,798,75
3
(R793,75
3)
R924,838
R1,995,80
3
R20,400,4
57
R2,160,03
1
R20,845,5
41
R2,482,11
0
R21,390,0
31
R2,929,83
8
R21,990,7
64
R2,798,75
3
(R793,75
3)
R1,223,46
6
R3,228,46
6
R21,960,7
55
R2,798,75
3
(R793,75
3)
R1,382,61
9
R3,387,61
9
R21,778,0
68
R2,798,75
3
(R793,75
3)
R1,397,39
7
R3,402,39
7
R21,442,2
08
R2,798,75
3
(R793,75
3)
R1,410,95
0
R3,415,95
0
R21,362,1
12
R2,798,75
3
(R793,75
3)
R1,438,32
8
R3,443,32
9
R21,334,4
60
R2,798,75
3
(R793,75
3)
R1,534,83
2
R3,539,83
2
R21,463,6
09
R2,798,75
3
(R793,75
3)
R1,762,41
0
R3,767,41
0
R21,835,0
48
R2,798,75
3
(R793,75
3)
R2,025,51
3
R4,030,51
3
R22,070,4
77
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
R2,798,753
(R793,753)
R0
R2,005,000
R20,005,000
Page 6
Appendix
Net Worth
R2,005,000
R1,995,80
3
R2,160,03
1
R2,482,11
0
R2,929,83
8
R3,228,46
6
R3,387,61
9
R3,402,39
7
R3,415,95
0
R3,443,32
9
R3,539,83
2
R3,767,41
0
R4,030,51
3
Page 7