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MAE FAH LUANG UNIVERSITY

Mee Sub Market


Project Feasibility Study and Evaluation (1203302)
by
1.
2.
3.
4.
5.
6.
7.
8.

Miss Julalak
Miss Phannarat
Miss Maliwal
Miss Mussabol
Miss Suangsuda
Miss Arisa
Mr. Ukrist
Mr. Palupol

Srijun
Bunrattanathanakorn
Thamrongphasuk
Chaichana
Wangpiang
Saynak
Singkaew
Meesub

5331203014
5331203074
5331203093
5331203094
5331203129
5331203143
5331203150
5131207019

Group 3 Section 1
A term paper submitted in partial fulfillment
of the course 1203302 project feasibility study and evaluation

MAE FAH LUANG UNIVERSITY


Second semester, academic year of 2012
15 February, 2013

Content
EXCUSIVE SUMMARY

1. CHAPTER ONE INTRODUCTION


1.1 Background and Significance of the Project

1.2 Project Objective(s)

1.3 Benefits of Project Identify the benefits of this study

1.4 Activities/Time Frame Gantt chart and Time frame of the study

2. CHAPTER TWO INDUSTRY PROFILE


2.1 Nature of Industry

2.2 Situation of Industry

2.3Product/Service

12

3. CHAPTER THREE MARKET FEASIBILITY STUDY


3.1 Market Analysis

15

3.2 General Environment Analysis Political, Economy, Social


and Environment, and Technology

15

3.3 Competition Analysis (3C Analysis)

23

3.4 STP Analysis-Marketing Mix Strategy

34

3.5 Sales Forecast/Profit Estimation

44

3.6 Marketing Expenses (Sales Incentive)

56

3.7 Conclusion

56

4. CHAPTER FOUR INVESTMENT COST


4.1 Cost of Investment

58

4.1.1 Pre Operating Cost

58

4.1.2 Investment Cost

61

4.1.2.1 Land

63

4.1.2.2 Buildings

64

4.1.2.3 Equipments

65

4.2 Facility Layout


4.3 Machine/Tools/ Equipments

70

4.4 Depreciation

76

4.5 Conclusion

78

5. CHAPTER FIVE TECHNICAL ANALYSIS


5.1 Product Characteristics

80

5.2 Specification, Feathers, Dimension, Life Time, etc.

81

5.3 Production/Services Process

81

5.4 Administration Analysis

82

5.4.1 Facility Cost (Electricity, Telephone, Fax, etc.)

82

5.4.2 Administration Cost

84

5.5 Conclusion

87

6. CHAPTER SIX FINANCIAL ANALYSIS


6.1 Financial Assumption for Business.
6.1.1 Financial Statement in 5 years
6.2 Ratio Analysis

89
90
107

7. CHAPTER SEVEN RISK MANAGEMENT


7.1 External Risk

109

7.1.1 Economic

109

7.1.2 Environment

109

7.1.3 Competitor

109

7.2 Internal Risk

109

7.2.1 Financial Risk

109

7.2.2 Strategic Risk

110

7.2.3 Operating Risk

110

7.2.4 Compliance Risk

110

7.2.5 Credit Risk

111

7.2.6 The policy for reducing risk

156

7.2.7 Risk assessment

156

8. CHAPTER EIGHT SUMMARY


8.1 Environment Feasibility Analysis Summary

158

8.2 Marketing Feasibility Analysis Summary

158

8.3 Financial Feasibility Analysis Summary

159

REFERENCES

A
Executive summary
From increasing and expanding of business about healthy like spas, beauty clinics,
healthy restaurants and supplementary food, it shows that people concern more about their
health in Nowadays and have the trend to increase more and more. In term of consumption
behavior, fresh food and healthy food are popular among a lot of people. Combine with
lifestyle of Thai people still cook at their home. Especially, Chiang Rai people are prefer to go
to a fresh market where people can trade the raw material used in cooking both fresh food and
dry food. Although there are many fresh markets in Chiang Rai, many fresh markets have
problems like cleanness and fresh of food. Moreover, the increasing number of the population,
it leads to an increasing in the need of food of people. So, we find an opportunity to do a
business that is the fresh market for healthy.
Mee Sub Fresh Market is a healthy market that is located on the bypass of Chiang Rai
province which closed to the airport and community which provides the Fresh food for
consumer by toxin test procession in every two weeks because according to the population in
Chiang Rai found that people turns to be focusing on their health by watching what they will
be eaten, and this would be an opportunity to open the Mee Sub Fresh Market for meet with the
consumer need. Therefore, the target market is housewives who are female in age between 3560 years old and also concerning of health. For the Manage Strategy, we have a good of
garbage and infrastructure management. For the Marketing Strategy, our firm provides the
advertising on local radio, local newspaper and cars radio before and after the Mee sub Market
Grand opening date, we also set the winner award for the Walking for health activity with
inviting the under-secretary of a health ministry to open our Fresh Market. For the Promotion
Strategy, our firm will give the fifty percent discount stall on the agreement for the header who
can find the retailer for rent stall. Moreover, for the Financial Statement, the firm has to payoff
debt on 6 percent of the interest and principle money within twelve years.

Chapter 1
Introduction

Background and significant of the project


Chiang Rai province is located in the northernmost of Thailand. Surrounding provinces
are Phayao, Lampang and Chiang Mai. The north border of Chiang Rai is next to Shan
State of Myanmar which has the highway cut through Myanmar in Mae Sai border that would
have the forth Thai-Laos Friendship Bridge at Chiang Khong in the future. In the northeast
border is next to the Mekong River and in the east is next to Luang Prabang Hill of Thai-Laos
border. Chiang Rai is a scenery town which is a big province in Thailand that has a large area
ranked as the 12th of the country (Wikipedia, 2012).
In the past, human society fosters itself by sufficiency economy system that every
household can produce and consume productivities within their family. In order to do that, they
use materials from natural resources in their local area even weave their own clothes. Then, the
society has become bigger and the productivities they produced are greater than their needs so,
that surplus has brought to exchange with other productivities the household cannot be
produce. At that time there is no certainly place where people can exchange their productivities
therefore they exchange their products at the source. After that, the society has been growing
and become a big city that has an influence on trading; the demand of products has been
increasing while trade has been expanding. Thus, there need to be a place where people can
exchange those products that is called Market. Fresh market is a distribution of products in
category of food and other consumer goods which are necessary for daily life.
According to the definition of Public Health Act, B.E. 2535 (1992) in section 4,
Market place means a place ordinarily arranged for merchants to assemble to offer for sale
goods consisting of animal, meat, vegetable, fruit, fresh or already prepared or cooked food, or
perishable foodstuff, with or without other kinds of goods for sale, and includes an area
arranged for merchants to assemble to offer said goods for sale regularly or from time to time
or on appointed dates.
In the next three years (2015), Thailand will participate in the AEC completely. The
country will have an opportunity in order to import and export with 0% tariff. Thailand will be
the country of the tourist destination and the airline center of ASEAN. Chiang Rai province is
the one of the province which has an effect from AEC. Because of Chiang Rai is the tourist
destination which has many beautiful and interesting places for traveler. Furthermore the
border of Chiang Rai is close to Loas and Myanmar. Chiang Rai also has an important port
which is called Chiang San Port (Ministry of Commerce, 2013) Becoming one of the countries

which participate in AEC will extend in a trend of the economics of Chiang Rai which the
border trade at Chiang Khong district tends to be increase from 2012 at 4,800 million Baht.
This will cause to increase in purchasing power of Chiang Rai people (Sivarak, 2013) So, to do
a fresh market business might be a good alternative in business because the life style and basic
of life of people need food. This is the reason why we choose the fresh market business.
Project Objectives

To bring out the business knowledge in order to create a business plan.

To study the process of doing business including with all business activities.

To be the alternative market for consumer in Chiang Rai province.

To increase jobs and revenue for people in the province.

To study the feasibility and opportunity of the fresh market in Chiang Rai.

Benefits of the project


1. Benefit for group members

To use the knowledge and gain more experience of the business.

An opportunity to survey in a real situation for coordinating with different kind


of divisions which it helps to operate the business project.

To reinforce a skill of thinking that is step by step method.

2. Benefit for customer To reinforce the local people to have a better quality of life.

To improve a standard of local people consumption.

To expand the economy.

A lifestyle of people will change and go along with a behavior of goodwill.

3. Benefit for entrepreneur

For the entrepreneur who is interested in Fresh market investment, this project
can be a guide planning of Fresh market.

Gantt chart and Time frame of the study

Chapter 2
Industry profile

Nature of industry
Market was founded in Thailand since Sukhothai period as the stone inscription said
Whoever wants to trade in elephants, so trades. Whoever wants to trade in horses, so trades.
Whoever wants to trade in silver and gold, so trades. It shows that trade is also occurs for a
long time started from an exchange of things like goods or other stuff. After that, there is a
regulation of determining something as a medium of exchange which are; cowrie shell, coin
and money in the present time (Phattanarat, 2003).
Market in the former time is the economy source of Thai people because market is
known as the place where anything can be found. When you lack of something, you can find it
in the market. The market that has obvious evidence is the market in Ayutthaya period which is
the period that the foreign came to trade in Thailand. So, Thai people have a relationship with
trade for a long time.
The market is the place where people in the community come to contract with each
other in order to trade and exchange information so that it is a center of communication by land
and water. In every communities of the country, people who have involve in the market are
people who bring products into the market to sell and people who come to buy products such
as the end-users and retailers. People who related to the market are an entrepreneur or the
markets owner, trader, shipper, labor and the consumer who come to buy the product. At this
point, the market is an important business sector which can create more jobs and generate
income in economy system of the country.
Nowadays, there are changes in economy and society that encourage the expansion of
trade lead to many types of market such as clothes market, fresh market, flower market etc.
According to the fresh market, it is the place where people trade the raw materials used in
cooking, both fresh food and dry food and including instant food. In Thailand, fresh market can
be found in the area of communities around the country. The growth and the recession of fresh
market depend on the change in economy factors and social factors of each community such as
the change in transportation system from transport by water to by land, expanding of
community, crowded traffic system, high price of land, occurrence of a big and modern retail;
department store, discount store and supermarket, and including the change of customer
behavior from preparing a meal at home to eating in the restaurant or consuming instant meal.
However, fresh market should be acquainted to people in that community and should be
convenience to travel to. The size of fresh market also depends on the size of that community

where the market located or depends on number of product placed in the market. Moreover, the
type of market is depends on environment and habitation of that community. For example, if
the community has communicated by water, the market would be known as floating market. If
the community has communicated by land, the market would be known as land market. In this
case, fresh market is the place of culture that shows the livelihood of people in that society
(Siritarungsri, 2009).
Situation of industry
According to the rapid growth hog the cities, people way of life has been change. An
increasing number of the supermarket and superstore affect to the change of customer behavior
including; increasingly focused on the convenience, more concern about health, wellness, and
safety food and consuming more ready to eat and prepared foods (Salsberg, 2010).

(Source:http://csi.mckinsey.com/knowledge_by_region/asia/rest_of_asia/thailands_modern_grocery_at_a_crossroads)

10

From this figure, it can be seen that the trend of the growth number of retail market or
supermarket in Thailand is gradually increasing. This situation influence to the fresh market
and many grocery shop significantly. In case of the increasing number of customer go to the
market. Although, there are increasing numbers of supermarket, most of Thai people still go to
the fresh market because of there are some local product that the supermarket did not have.
And the price of the product in supermarket is more expensive than in the fresh market which
conforms to customer behavior that more economizing and searching for value.
According to a preliminary survey, most of the popular fresh market has variety choices
of food such as vegetable, fruit, meat, dried food and etc. Moreover, most of them have a very
competitive pricing strategy which has a huge effect on consumer decision. However, there are
some weaknesses for those markets that they had over look. For example; bad water irrigation,
poor air ventilation system, unplanned zoning and improper parking space. It can be seen that
there still has a gap for some improvement and we will focus on turn their weakness into our
strength which provides a standard of structure by having a public utility system along with
clear divided zones and always keep a clear place because nowadays, most people in Chiang
Rai are more concern about the hygienic condition and the trend of goodwill has been changing
by time which means the lifestyle of consumption adjust to higher level. And this is the reason
why we are interested to invest on a fresh market.
From the discussion with the officer of Chiang Rai Municipal government, there are 12
important fresh market which under the control of the municipal. It can divide in to two
categories:
Private market

Sri-sai-moon Market

Fah Sawad Market

Nim Si Seng Market

Den-Hah Market

Ma-Na Market

Baan Mai Market

Pah Kong Market

Huay Pah Gang Market

Chock Chareun Market

11

Municipal Market

Tet Sa Barn neung Market

Tet Sa Barn Song Market (Sirikorn)

Almost of those markets that we indicated have different advantages and disadvantages.
Such as in some of those market has wide variety of products with a limited area. Due to the
crowded it causes problems about parking and traffic jam. In some market has a huge location
and a parking space but only a few people use their service. Because of the life style of Chiang
Rai people and their behavior, most of them have an easy life style and economical. They like
to expense their money with many alternative products.
So, doing a business in Chiang Rai especially in a fresh market business, we have to
know the customer behavior of Chiang Rai people. In order to construct a fresh market which
match with their life style and behavior.

12

Product and service


Product
In the fresh market most of the product is fresh meat, sea food, vegetable, fruit and
prepared foods. Some of the products which cannot find in the supermarket such as local
vegetable and local food are founded in our fresh market.

Market with infrastructure

Market with non-infrastructure

13

Service
Almost the fresh market in Thailand has an improper and unclear zone. Most of the
zone is depend on the relationship between sellers. For example, although they sell different
type of products but they have a close relationship and stay in the same zone. This causes the
disorganized and messy to the market. Moreover, most of the markets are lack of cleanness and
maintenance. For example in the fresh meat zone, there are some problems about dirty ground
and fishy smell. This cause people did not want to go to this zone of market. In some fresh
market located in the community with crowded people that can cause the traffic jam.

Parking

Garbage pail

Public toilet

Weighing scale
(Source:http://www.nwmc.go.th/market_1.html)
(Source:http://www.teeteawthai.com/

Chapter 3
Market Feasibility Study

15

Market Analysis
General environment analysis
Political
According to ministerial regulations about market hygiene B.E. 2551 (2008) in section
1 that types of fresh market can be classified into 2 categories;
Category 1 : The market with infrastructure and operate regularly or at least once a week
which meets the requirements of Ministry of Public Health.
Category 2 : The market with non-infrastructure and operate regularly or at least once a week
which meets the requirements of Ministry of Public Health.
Fresh market of municipal government that plan to build or develop in the future must
be a market with permanent infrastructure classified as market in category 1. The market have
to be clean and sanitary, proper number of stall which is suit to local area condition and eating
culture and living of each region. The market has to be safe and easily access. Moreover, it has
to be a place that has no effect to environment and society nearby such as bad smell, polluted
water and trash.
However, there are three requirements under Healthy Market from Department of
Health B.E. 2551 (2008):
Environmental health requirement
The marketplace should be well-ventilated, floors in all market areas should be sloped
to drain and Infrastructure should be well-maintained in good and hygienic condition. Pathway
in the marketplace should be at least 2 meters width. Food and stuff should be placed for sale at
least 60 centimeters above the floor. All goods and equipment using in marketplace should be
placed properly and should be zoned. Each stall should have the number and the name of the
owner and they should be easily seen. Trash containers should be separated from garbage,
adequate in number, insanitary condition, and regularly cleaned. Toilet for male and female
should be separated, well-ventilated and free from bad odors. Wastewater treatment should
meet the standard (for marketplace with area at least 2500 m or above). Pest control should be
conducted at least twice a year. Routine cleaning shall be done after each use every day and
sanitary cleaning should be conducted at least once a month. Person who sells merchandise

16

should perform good hygienic practices and dress with good personal hygiene during all
working periods.
Food safety requirement
All food sold in the market must free from 5 chemical contaminants; Borax, Formalin,
Salicylic acid, Sodium hydrosulfite, Beta agonist.
Consumer protection requirement
Person in charge for contamination screening test should be provided in designated area. It
should provide an information boards and weighing scale for consumers.
Chiang Rai government agencies can be divided in to 3 agencies.
1. The Regional Administration
2. The Central Administration
3. The Local Administration
Include:

City Municipal

26

Local Municipal

Provincial Administration

116

Locality Administration

The Mee Sub Fresh market is located and under the control of Chiang Rai City
municipal.
To be a standard fresh market must follow by the ministry of Public Health which is
mentioned about the structure of the market, location, store management, waste disposal
system and also health and environment standard. This point we have to concern on population
and the need of consumer.
Economy
The economic circumstance of Chiang Rai at this time tends to expanded continuously
follow by the government policy which encourage people to spend their money such as;
increase minimum wage, raise the salary of government officer and reduce the corporate
income tax to raise the demand and the purchasing power. According to the report of economy
estimation of Chiang Rai in 2012, the investment of private sector in Chiang Rai has been
expanded to 17.1% due to the expanding and introducing of new project of real estate business
to support the economic expansion in Chiang Rai.

17

Moreover, there is an ASEAN Economic Community in 2015 which is an association


of ASEAN country to create their own market and production base. There is a freedom
movement of product, service, investment, capital and high skill labor. Besides, Chiang Rai is
an important fortress area where is a stronghold in tourism and transportation due to the fact
that it has a boundary connected to many countries. From these economic factors, it shows that
establishing a fresh market is required by consumers (The Chiang Rai Provinceal Office of the
Comptroller General, 2012).
Social
According to the increasing number of employment 1 and an increasing in population2 in
Chiang Rai, people have more income and more quality of life. It can increase in the
purchasing power of people to buy the product which match with their need. People in the
Northern of Thailand has the characteristic of living as a big family, living near their
neighborhood, mutually depend on each other, has simple lifestyle , still preserve the local
culture and traditional custom. Although society nowadays is developing to be urban society;
an increasing of housing development, development of technology and economy, but these
change cannot cause an effect to the way of live of people that much. Due to people in Chiang
Rai has a simple lifestyle, they does not live as a big family like in the past anymore.
Nowadays, people are more concern on health not only the older person but also working
persons and teenagers. They also pay attention to the healthy functional food in order to be
good in health (SMEs Article, 2012) whether it is more expensive. People in Chiang Rai living
as a single family and still prepare the meal in their household. So, the fresh market still is an
alternative of Chiang Rai people to use the service in purchasing raw material for cooking or
other consumption goods. As mentioned above, it shows that fresh market business still is
required to meet the customers needs. To respond to the needs of customers, the entrepreneur
has to focus on customer behavior and merchants or seller who rent the stall and use the fresh
market service, in order to survey the needs of customers in many factors. So that, they can
specify the form and characteristic of fresh market follow by the regulation and customers
needs.

18

Table of Economic and Chiang Rai trend.

(Source:http://www.klangcri.com/team/team3/data/ManagementChart/Report_MC/2555/Mana
gement_2_55.pdf)
(Source:http://www.thaifranchisecenter.com/document/show.php?docuID=526)

19

Environment
In term of environment, Chiang Rai city has traffic jam in community areas. However,
the location of our fresh market has clear and nice weather and not crowded community since it
located on the bypass that close to government sectors, school, university and the airport that
suitable to build the market. Moreover, we found the building instruction of row houses has
been increasing even on the opposite and beside our Fresh Market which means this area will
become the crowd community in the future and also found the developed housing with 200
houses in the area around our Fresh Market.

Government Sectors

Chiangrai Provincial Administrative Organization

Chiangrai Government Service Ministry of Labour

Chiangrai Provincial Labour Protection and Welfare Office

Department of Rural Roads No.17 (Chiang Rai)

20

Chiangrai Department of Skill Development

Department of Public Works and Town & Country


Planning Chiangrai Office

Chiangrai Department of Probation

Chiangrai Department of Fisheries

University/ School

Chiangrai Municipality School 6 (Junior High School)

Chiangrai Municipality School 6 (Senior High School)

21

Ramkhamhaeng University Chiangrai Campus

Wisanusorn School

Row housing

Chiangrai Special Education Center

22

Developed housing

Koolpuntville (234 Households)

Greenville

Suwanraya Village (60 Households)

Technology
At this time, technology and communication are growing that make the marketing
easily reach to the real customer more than ever. Since there are variety of alternatives in
receiving the information such as radio, television, newspaper, billboard and including internet,
therefore, our group has studied advertising method to introduce The Mee Sub market and
persuade sellers and buyers to know and come to the fresh market. The advertising can be
conducted through many types of technology which is suit to the geographic features and target
market behavior.

23

Competition Analysis
1. Competitor analysis
Ban-Du Market
Category

Details

Location

Bandu District, Muang, Chiang Rai

Surrounding

7/11, Banks, University

Amount of stall

500 stalls

Stall Payment

General information

Meat 10 Sellers

Fish

Others

2 Baht in the Moring since 4 a.m. 10 a.m.

5 Baht in the afternoon since 1 p.m. 8 p.m.

6 Sellers

Ban-Du is an economic area with the market is near the community


area and Chiangrai Rajabhat University. It is crowded in the
evening. Fresh products can be found in the morning and cooked
food can be found in the evening. The market planned to expand the
flooring but cannot be done.

Pros

Convenience to stop by

Cons

There always has a traffic jam in the front of the market


especially in the morning and evening which causes
accidents many times.

It is not organized

There is bad smell of the garbage since it is no proper


storage.

24

Pah Kor Market


Category
Location
Surrounding

Amount of stall

Stall Payment
General information

Details
Phahon Yothin Rd., Rop Wiang District, Muang, Chiang Rai
-

7/11 in both side of the road

Food area in the evening

150 stalls
-

Meat 3 Sellers

Fish

Vegetables, fruits, cooked food etc.

2 Sellers

10 Baht/stall
Pah Kor Market is a small market which is close to the community.
The market is open since 5 a.m. 10 p.m. and crowded in the
evening. Mostly sold cooked food. The area has a good commercial
interaction.

Pros

There are varieties of food for people who looking for


cooked food to be take home.

Cons

Traffic jam in the evening

No parking lot

Not clean

No waste disposal system

25

Tet Sa Barn Neung Market


Category

Details

Location

Tet Sa Barn Neung, Thanalai Rd., Rop Wiang District, Muang,


Chiang Rai

Surrounding

It is a trading center area of Chiang Rai; there are trading all the
time. It is near to Chiang Rai Clock Tower.

Amount of stall

800 stalls

Stall Payment

50 Baht/stall

General information

Because Tet Sa Barn Neung Market is the biggest market in Chiang


Rai, so there is a trade interaction all the time. There are Market
inside and Market outside.
Market inside;
- Open since 4 a.m. 6 p.m.
- Product sold are; clothes, food, snack and grocery.
- Some area also trade at night.
Market outside;
- Open since 2 a.m 8 a.m. in the morning.
- Fresh products can be found in the morning e.g. vegetables.
- Open 4 p.m. 3 p.m. in the evening.
- Cooked food, vegetables, meat etc. can be found in the
evening.

Pros

There is a trade interaction all the time.


Good economic area

Cons

There is bad smell of the garbage.

It is quiet dirty and it is the source of pest such as mice.

The management is not so good such as drains, waste


disposal system etc.

Unsystematic stalls which are trade on the road, it may cause


dangers to both sellers and customers.

Traffic jam and Lack of parking lot.

26

Tet Sa Barn Song Market (Sirikorn Market)


Category

Details

Location

Rop Wiang District, Muang, Chiang Rai

Surrounding

Bus Terminal, Suan Tung and Chiang Rai Nigh Bazaar

Amount of stall

110 stalls

Stall Payment
General information

Meat 28 Sellers

Fish

Fruit ,Flowers, Vegetables, cooked food, etc.

27 Sellers

Monthly : 156 Baht/stall


Sirikorn Market is located in the community with crowded people
stop by so it is good trading area. Mostly there are make to order
restaurants and gift shop. It is open since 4 a.m. 7 p.m.

Pros
-

Cons

It is located in the entrance way of the city which is close to


community and a lot of trading nearby.
It is a well-known source of flower shops.

No parking lot

Not clean

No fences to prevent animals

No segment of garbage and waste

27

Huay Pah Gang Market


Category

Details

Location

Mae Sai Mae Fah Luang Rd., Rop Wiang District, Muang, Chiang
Rai

Surrounding

7/11 on the left and Lotus Express on the right

Amount of stall

50 stalls
-

Meat 2 Sellers

Fish

Vegetables, cooked food, etc.

1 Sellers

Stall Payment

300 Baht/Month

General information

Huay Pah Gang Market is close to the community but not so


crowded since it is a small market. It is open since 5 a.m. 8 a.m. in
the morning and 3 p.m. 6 p.m. in the evening.

Pros
Cons

It is quiet clean.
Not crowded.
No toilet

No waste disposal system

Difficulty in traffic

28

Baan Mai Market


Category
Location
Surrounding

Amount of stall

Stall Payment

Details
Baan Mai Crossroads, Rop Wiang District, Muang, Chiang Rai
-

Many stores aside

Lotus Express in the opposite

Close to Baan Mai community and St.Mary School


(Primary) Chiang Rai

300 stalls
-

Meat 10 Sellers

Fish

Others

6 Sellers

Daily : 10 Baht/stall
Monthly : 300 Baht/stall

General information

Pros

Cons

Baan Mai Market mostly sell vegetables, fresh products, cooked


food in the morning.
-

Segment the parking lot between motorcycles and cars.


Convenience to stop by
Tidy and orderly
Good waste management

No toilet

No cement parking lot

29

Den-Hah Market
Category

Details

Location

Den Hah Crossroads, Rop Wiang District, Muang, Chiang Rai

Surrounding

7/11, Lotus Express

Amount of stall

150 stalls
-

Meat 2 Sellers

Fish

Others

1 Sellers

Stall Payment

Collect both in the morning and in the evening 10 Baht/stall

General information

Den-Hah Market mostly sells vegetables and cooked food. The


market is located under the building which is very stuffy.

Pros

Cons

Close to the community


Crowded people in that area
Good economic area

There is a traffic jam in the evening.

No parking lot

No toilet

Stuffy

Quiet dirty

30

Nim Si Seng Market


Category

Details

Location

Next to the main road, Rop Wiang District, Muang, Chiang Rai

Surrounding

Green Wing in the front and 7/11 on the left.

Amount of stall

200 stalls

Stall Payment
General information

Pros

Cons

Meat 4 Sellers

Fish

Others

3 Sellers

20 Baht/day/stall
Nim Si Seng Market is a small market located in community area.
The customers who come to the market are local people in the
community. It is open since 5 a.m. 6 p.m. Cooked food can be
found both in the morning and in the evening.
-

Quiet clean
Developing market

Bad smell of garbage

Bad waste management

No safety parking lot

Dirty aside the market

No fences to prevent animals

31

Sri-Sai-Moon Market
Category

Details

Location

20 M.1 Rop Wiang District, Muang, Chiang Rai

Surrounding

7/11 on the left, Lotus Express on the right, and Glasses store in the
opposite.

Amount of stall

150 stalls

Stall Payment

Meat 3 Sellers

Fish

2 Sellers

Fruit

4 Sellers

Vegetables, cooked food, etc.

Daily : 10 Baht/stall
Monthly : 300 Baht/stall

General information

Pros

Sri-Sai-Moon Market is located in the community with crowded


people stop by so it is good trading area. Mostly there are make to
order restaurants and dormitory close to the market. It is open since
6 a.m. 8 p.m. crowded people in the morning and in the evening.
-

Cons

(Source: From our survey)

It is located in the entrance way of the city which is close to


community and a lot of trading nearby.
The market is not influence to the community since it is no
village there. Most people just come and go.

No parking lot

Dangers and Difficulty of traffic in the front of the market

Not clean

No fences to prevent animals

No segment of garbage and waste

The toilet only have 2 rooms

32

According to the primary survey the table shows the strength and weakness of
competitors who open the Fresh Market companies in Mueng district Chiang Rai. We found
that, the most of Fresh Market weakness on the parking lot allocate of garbage, bad ventilate
air and zones dividing. However, they still have a strong strength such as place close to the
highway and in the center of community where is suitable for local people to drive or ride their
own vehicle from their place to the Fresh Market. The last but not least, we also found the
convenient store around the Fresh Market which is comfortable for customer of come at one
place and can get what they need to buy. Moreover, we are wonder why the customer still to go
the same market with the high weakness or they dont have other alternative of Fresh Market,
this is the reason why we are interested to do the Fresh Market with turning their weakness to
our strong strength which provides allocate of garbage with a good of ventilate air and having a
clear zone of products along with sink placed in the meat and seafood zone to customer for
washing their hands after buying the raw meat, parking lot is the important thing for customer
to have a convenient parking so they wont feel rush moving their vehicle. But the most
importantly is the variety product with a quality check and a fair price for customer which
based on Ministry of health standard in our Fresh Market to meet with customer needs.
2. Customer Analysis
Nowadays, trend of healthy is fever around the world and including Thailand. Thai
people are concern more about their healthy in term of consumption. Especially, a group of
people that is working age have behavior in choosing the healthy food more and more. They
focus on fresh, quality, and nutrition of food.
So, the characteristic of the customers who come to the fresh market in Chiang Rai
mostly are; female, age 30 and above, working people including housewife who likes to
expend and purchase instant food and raw materials to prepare the meal in her household to
make sure that the food is safe and healthy. Most of the customers are price concerns and
quality is significant in order to make decision too. Variety of goods is also relevant.
Moreover from statistic of income and expense of Chiang Rai people show that the
people have more income and have expense that more than half of income. It means that people
have more power to buy.

33

Income of Chiang Rai people during 2006-2009

Expense of Chiang Rai people during 2006-2009

34

3. Competitive Analysis
There are three competitive have found in the Fresh Market in Chiang Rai. First of all,
stall price rate of each Fresh Market is different because its depend on demand of retailer if the
Fresh Market has a cheap price of stall so, most of the retailer would like to get stall for their
product sales which means the demand of customer follow the retailer for buying products.
Second of all, the Fresh Market this got the award from Ministry of health to warranty itself of
a clean Fresh Market for customer to purchase, so this factor can increase the amount of
customer. Third of all, demands of customers are depending on the variety products in the
Fresh Market. If the Fresh Market have variety products sale, demand of customer will be
increased because variable market attracts customer to purchase at that market.
STP Analysis
Segmentation
The segmentation of the users of Fresh Market can be classify in 3 categories by
segmentation from demographic including occupation, age and lifestyle;
1. A group of people age 15-22 years old or a group of student. The characteristics of this
group are; prefer convenience, emphasize on consuming instant food and mostly come
to fresh market in the evening to late night.
2. A group of people age 23-34 years old; mostly are working people or salary man such
as private sector employees, employees work in the government service etc. This group
of people has a hurry-up lifestyle that has no time to prepare the meal so, they tend to
consume instant food and come to fresh market in the morning since 6 A.M. to 8 A.M.
and in the evening since 4 P.M. To 10 P.M. They also concern about healthy food.
3. A group of people age 35-60 years old and above; female who is a housewife. This
group of people tends to purchase raw materials to prepare the meal in the household.
They also concern about healthy food for their household. Mostly, they come to fresh
market in the morning since 4 A.M. To 10 A.M. and in the evening since 3 P.M. To 6
P.M.
The segmentation of the people who are seller in the fresh market can be classified into 2
categories;
1. A group of sellers who want to rent the stall(s) in temporary.
2. A group of sellers who want to rent the stall(s) in permanent.

35

Target Market
According to the segmentation of the fresh market, can be assumed that the target
market of the fresh market Mee Sub is a group of people age 35-60 years old and above;
female who is a housewife, because of the behavior of this group of people that always comes
to the fresh market and also health concern, always seek for healthy food. And from the
segmentation of the users who are seller can be assumed that the target market is a group of
sellers who want to rent the stall(s) in permanent.

Product positioning
1. Mee Sub Market would be one of the Very Good Level Healthy Market out of 228
markets in Thailand.
According to the information from Thai Health Promotion Foundation (2012) shows
that there are 1,533 of fresh markets all over Thailand. Those markets which meet the
benchmark standard of Healthy Market are 1,302 markets that are 85 percent and can be
classify into 2 levels; Good Level 1,074 markets and Very Good Level 228 markets.
To be a Very Good Level (5 Stars), the market should be developed to be a Healthy
Market that meet three requirements under Healthy Market from Department of Health B.E.
2551 (2008):
1) The market has to meet the first 17 sections of Environmental health requirements
and other 18 sections or above which is not less than 35 sections in total.
2) The market has to meet the Food safety requirement.
3) The market has to meet the Consumer protection requirement.

These are 40 sections of Environmental health requirement for Healthy Market;


1.
2.
3.
4.

Marketplace shall be well-ventilated.


Stalls, pathways, and outside garbage storage areas or enclosures shall be kept clean.
Floors in all market areas and proximity shall be sloped to drain.
All drains in marketplace shall be opened. Although drains around the market shall be
kept covered with metal screens and easily cleaned.
5. Toilets shall be well-ventilated, to be free of obnoxious odors.
6. Septic tanks are in sanitary condition.
7. Routine cleaning shall be done after each use every day.
8. Tap water shall be provided adequately.
9. Toilets for male and female shall be separated.
10. All goods and equipment using in marketplace should be placed properly. Do not
obstruct the pathways.
11. Food and stuff should be placed for sale at least 60 centimeters above the floor.

36

12. Sanitary cleaning should be conducted at least once a month.


13. Public trash receptacles should be adequate in number, in sanitary condition, and
regularly cleaned.
14. Trash screening and grease trapping should be conducted before discharging to public
sewage system or environment.
15. Infrastructure should be strong and durable. Floors should be constructed of smooth
durable material and easily cleaned.
16. Post control shall be regularly conducted.
17. Person in charge should take action in cleanliness and safety in marketplace.
18. Light at the stalls should be at least 200 Lux.
19. Stalls should be constructed of smooth durable and easily cleanable material, and at
least a height of 60 centimeters.
20. Each stall should have the number and the name of the owner and they should be easily
seen.
21. A trash receptacle should be present at each stall with sanitary condition and regularly
cleaned.
22. Trash containers should be adequate in number, insanitary condition, and regularly
cleaned.
23. Water storage containers should be adequate in number for daily use.
24. Toilets for male and female and sinks with soap should be clean, adequate in number,
and conveniently located.
25. There should be a person in charge of cleaning toilet at least twice a day.
26. Waste receptacles in the toilets should be durable and leak-proof material and kept in
covered.
27. Pest control should be conducted at least twice a year.
28. The number of pet and pest should not excess standard level.
29. Goods should be zoned.
30. Fire extinguisher should be adequate in number, placed in proper location, and easily
accessible.
31. Infrastructure should be well-maintained in good and hygienic condition.
32. Traffic around the market should be properly provided.
33. Person who sells merchandise or assistant should properly dress with good personal
hygiene.
34. Person who sells merchandise or assistant should perform good hygienic practices
during all working periods.
35. There should be a designated place for comments from public.
36. Pathway in the marketplace should be at least 2 meters width.
37. Trash should be separated from garbage.
38. A group or association of markets owners, persons who sell merchandise or assistants,
or consumers should be required.
39. Environmental or sanitary training course should be provided for persons who sell
merchandise or assistants.
40. Wastewater treatment should meet the standard. (for marketplace with area at least
2500 m or above)

37

Food safety requirement


All food sold in the market must free from 5 chemical contaminants; Borax, Formalin,
Salicylic acid, Sodium hydrosulfite, Beta agonist.
Consumer protection requirement
Person in charge for contamination screening test should be provided in designated
area. The market also has information boards and weighing scale for consumers.
2. Mee Sub Market would be known as safe and clean fresh market where the
products found are clean, safe, fresh, and free from any toxic residues and contaminant
substances.
Mee Sub Market concerns about safety of consumers to reduce illness rate and death
rate of people in the area. Especially food is to be concern since food is an important factor
people consume every day which can be create and destroy a good health at all time. So, our
market needs to collaborate with Ministry of Agricultural and Cooperatives, Department of
Health and community to provide safe and clean food for consumers.
2.1 Product Certification
In order to achieve this positioning, the sellers require Product Certification for
agricultural products and food from the Ministry of Agricultural and Cooperatives. Due to the
institutes in the Ministry of Agricultural and Cooperatives use the certification of agricultural
products and food as the same mark called Q Mark which represent the quality of agricultural
products and food as safe and high quality products. Moreover, it also communicate to
consumers within the country and trading partners from other country to trust in production
system and agricultural products and food which is meet the standard and to be accepted in
other countries.
This Product Certification covers taking random samples, testing products, and
inspecting the product whether the product characteristics of quality and safety follow the
agricultural products and food standard or not. The safety standard concerns about toxic
residues and contaminant. Moreover, there is an assessment of operation system of the
producers if they can maintain their quality and safety of products or not.

38

The Q Mark symbol


The National Bureau of Agricultural Commodity and Food Standards (ACFS) suggest
that the size of Q Mark should not smaller than 15 mm. in order to be clearly visible and
readable by the naked eye.
The color of Q Mark
Color

Code

Green

C100,Y100BL60

Figure 1: An example of the appearance of Q Mark Type A.

Figure 2: An example of the appearance of Q Mark Type B

39

The process of issuing Q Mark


The assurance of operating system or to assure agricultural products and food can be
summarized as the steps shown in the chart below;
The chart of process of issuing Q Mark for agricultural products and food

1. Certification Body (CB)


-

Prepare condition of certificate


Identify type of certificate
Identify standard used

Submit
2. National Bureau of
Agricultural Commodity and
Food Standards (ACFS)

Inform certificate
information as the
central database

Incorrect or
incomplete
document

Consider

Document is correct and complete


3. Give the code (Code No.3)
and Certification Body (CB)

4. Certification Body (CB)


issues the certificate

Means the process of issuing Q Mark


Means the process of linking information as a central database

40

2.1 Provide screening test for food safety


Under Food safety requirement of Healthy Market, the food sold in the market must
free from 5 chemical contaminants; Borax, Formalin, Salicylic acid, Sodium hydrosulfite, Beta
agonist. However, Mee Sub Market will collaborate with Ministry of Public Health to make
random inspection of 7 contamination substances including; Red meat catalyst, Borax,
Formalin, Salicylic acid, Sodium hydrosulfite, Beta agonist and repeated use of frying oil.
Besides, our market also has more inspections on drinking water quality, ice, microbial
pathogens and other contaminants such as Aflatoxin, Acetic Acid, synthetic coloring agent and
preservative agent. All these should be inspected every month.
Mr.Pachara KaewKla (2012), the coordinator of the strengthening mechanisms of food
safety project from Foundation for Consumers said Most of vegetables in general markets and
street stall found the residual of pesticide exceed the maximum rate for 38.1%. This is similar
to the result of the Department of Agriculture inspection which has a random check on
vegetables with the Q Mark. Moreover, the vegetables sold in supermarkets are also found
the residual of pesticide exceed the maximum rate for 43% while these vegetables sold in
higher price compared to vegetables sold in fresh markets for 2x-10x.
In this case, our market is realize for these safety to protect the benefits for consumers
and all these protections is aimed to meet customer satisfactions of our target market who
concern about healthy products.
3. The analysis of target market characteristic is the target that are housewives,
female, age 35-60 years old and above who is healthy concern.
4. To specify the product position of the fresh market, using price and quality as the
determination.
Mee Sub Market is known as Healthy Market which the product sold are free from
chemical contaminants so, the price of the product is quiet above the price of the product sold
in general markets according to the quality of the products.

41

Marketing Strategy
Integrated Marketing Communication
The important thing that should be focused on of the Fresh market business is to
communicate the marketing activities to consumer to understand and accepted. Marketing
activities of Mee Sub Market are;
1. Public Relations and Advertising
Our market will provide public relations and advertising on the new opening fresh market
in order to communicate and invite sellers and people who interested to sell their products in
the market. We offer some promotions to create the awareness and to persuade those sellers to
come and use our service. The tools we use in advertising are;
1. Advertising on local radio FM. 95.75 MHz 3,000 baht per month for the retailer
who want to rent stall at the Fresh Market 3 months between 01/05/2013 31/07/2013.
2. Local newspaper 500 baht/month (buy 1 month free for 1 month ads) for grand new
open fresh market 1 month between 15/07/2013 15/08/2013.
3. Three Radio cars advertising for 6 days between 29/07/2013 04/08/2013.
Total time for each car in 1 day = 9 hours
Driving time: 06:30am 09:00am/ 11:30am 13:30pm/ 15:30pm 18:00pm
- First car, will drive all the way from Rop Wiang District to Chiang Rrai
- Second car, will drive around down town Chiang Rai on the west side
- Third car, will drive around the city in Chiang Rai on the east side
4. Grand Opening
- Invite the under-secretary of a health ministry to open the Fresh Market on
01/08/2013 and test or measure the toxic value in the vegetables and fruits, which show how
safe and healthy of the products in our Fresh Market.
- Walking for Health activity, the distance start from our Fresh Market and will
end up at our Fresh Market within 2 km distance.
Grand slam: receive gold 0.50 baht as a prize
Honorable mention 1: receive 5,000 baht
Honorable mention 2: receive 3,000 baht
- Activities of students performance form Chiang Rai Municipality School 6

42

2. Promotion
For buyers who come to buy the products in our market, we will provide an
advertisement to inform them about the strength of Mee Sub market that focus on facilities
such as large area of parking lot, cleaned toilet, proper layout of goods category for
convenience of buyers. Also, there are security officers who responsible to the safety of the
market. These are the ways to draw attention from people to come to our market.
1. Advertising of free stall to retailer for the first 3 months sales board on roadside
between 01/08/2013 31/10/2013.
2. Discount 50% price of stall on the agreement for the header who can find the retailer
to sell at the Fresh Market forever.
3. Price

Description
Food court
Prepared food
Processed food
Fresh food
Fresh vegetable
Fruits
Miscellaneous goods

Stalls
20
20
16
64
30
30
20

Rent per
month
4,500
1,500
1,200
5,400
780
1,200
2,000

Total
90,000
30,000
19,200
345,600
23,400
36,000
40,000

Price (Market with infrastructure)

Description
Shop stall

Stalls
100

Rent per day


100

Total per day


10,000

Price (Market with non-infrastructure) There are free areas for 100 stalls

43

4. Place
Location background
The Mee Sub Market will be located on the bypass of Chiang Rai province. This fresh
market will be located in the community which closed to the airport, the city hall, the school
and the Payao University (branch in Chiang Rai). We have contact with the land owner for
asking to buy the land. This land including with 25 acres 32 square meters. There are some
criteria in choosing the location;
Social and cultural factor
The location is close to the community.
The fresh market is consistent with characteristics of population around the area
together with participation that is not go against routine, religion and social
value of people in that community.
Environmental factor
The convenience entrance for the customer and the user.
The area is not crowed and can be continuously extended.
The area is open and ventilated.
The area is unaffected by pollution from noise, toxic fumes, sewage and odor.
Technical factor
1. It is convenience for transporting goods.
2. It is convenience in case of labor and staff.
3. It is easy to access and it will not have a traffic problem.
Trend of the community
There is the growth trend of the community.
There is an increasing number of the population.
(Source: http://www.sumc.in.th/images/document/20070607155210bifhc.pdf)

44

Revenue Forecast (from renting stall)


Revenue from renting stall
Year 1
Food court
Prepared Food
Processed Food
Fresh Meat
Fresh Vagetable
Fruits
Miscellaneouse
Temporary Stalls
TOTAL

735,000
511,000
357,500
2,362,500
420,000
682,500
560,000
5,628,500

Aug

Year 2
Food court
Prepared Food
Processed Food
Fresh Meat
Fresh Vagetable
Fruits
Miscellaneouse
Temporary Stalls
TOTAL

157,500
109,500
97,500
525,000
100,000
162,500
120,000
1,272,000

Aug
76,500
25,500
16,800
297,000
20,280
31,200
34,000
90,000
591,280

Sep
76,500
25,500
16,800
297,000
20,280
31,200
34,000
90,000
591,280

Year 3
Food court
Prepared Food
Processed Food
Fresh Meat
Fresh Vagetable
Fruits
Miscellaneouse
Temporary Stalls
TOTAL

157,500
109,500
65,000
472,500
80,000
130,000
120,000
1,134,500

Aug
90,000
30,000
19,200
345,600
23,400
36,000
40,000
99,000
683,200

Sep
90,000
30,000
19,200
345,600
23,400
36,000
40,000
99,000
683,200

Sep
-

Oct
-

Nov
60,750
20,250
12,600
240,300
15,990
24,600
27,000
180,000
581,490

Dec
60,750
20,250
12,600
240,300
15,990
24,600
27,000
180,000
581,490

Jan
60,750
20,250
12,600
240,300
15,990
24,600
27,000
180,000
581,490

Feb
60,750
20,250
12,600
240,300
15,990
24,600
27,000
180,000
581,490

Mar
60,750
20,250
12,600
240,300
15,990
24,600
27,000
150,000
551,490

Apr
60,750
20,250
12,600
240,300
15,990
24,600
27,000
150,000
551,490

May
60,750
20,250
12,600
240,300
15,990
24,600
27,000
150,000
551,490

Jun
60,750
20,250
12,600
240,300
15,990
24,600
27,000
150,000
551,490

Jul
60,750
20,250
12,600
240,300
15,990
24,600
27,000
150,000
551,490

Total
1,281,750
693,250
470,900
4,525,200
563,910
903,900
803,000
1,470,000
10,711,910

Oct
76,500
25,500
16,800
297,000
20,280
31,200
34,000
117,000
618,280

Nov
76,500
25,500
16,800
297,000
20,280
31,200
34,000
117,000
618,280

Dec
76,500
25,500
16,800
297,000
20,280
31,200
34,000
117,000
618,280

Jan
76,500
25,500
16,800
297,000
20,280
31,200
34,000
117,000
618,280

Feb
76,500
25,500
16,800
297,000
20,280
31,200
34,000
117,000
618,280

Mar
76,500
25,500
16,800
297,000
20,280
31,200
34,000
117,000
618,280

Apr
76,500
25,500
16,800
297,000
20,280
31,200
34,000
117,000
618,280

May
76,500
25,500
16,800
297,000
20,280
31,200
34,000
117,000
618,280

Jun
76,500
25,500
16,800
297,000
20,280
31,200
34,000
99,000
600,280

Jul
76,500
25,500
16,800
297,000
20,280
31,200
34,000
99,000
600,280

Total
1,075,500
415,500
299,100
4,089,000
343,360
536,900
528,000
1,314,000
8,601,360

Oct
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

Nov
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

Dec
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

Jan
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

Feb
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

Mar
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

Apr
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

May
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

Jun
90,000
30,000
19,200
345,600
23,400
36,000
40,000
108,000
692,200

Jul
90,000
30,000
19,200
345,600
23,400
36,000
40,000
108,000
692,200

Total
1,237,500
469,500
295,400
4,619,700
360,800
562,000
600,000
1,422,000
9,566,900

45

Year 4
Food court
Prepared Food
Processed Food
Fresh Meat
Fresh Vagetable
Fruits
Miscellaneouse
Temporary Stalls
TOTAL

Aug
90,000
30,000
19,200
345,600
23,400
36,000
40,000
108,000
692,200

Sep
90,000
30,000
19,200
345,600
23,400
36,000
40,000
108,000
692,200

Oct
90,000
30,000
19,200
345,600
23,400
36,000
40,000
135,000
719,200

Nov
90,000
30,000
19,200
345,600
23,400
36,000
40,000
135,000
719,200

Dec
90,000
30,000
19,200
345,600
23,400
36,000
40,000
135,000
719,200

Jan
90,000
30,000
19,200
345,600
23,400
36,000
40,000
135,000
719,200

Feb
90,000
30,000
19,200
345,600
23,400
36,000
40,000
135,000
719,200

Mar
90,000
30,000
19,200
345,600
23,400
36,000
40,000
135,000
719,200

Apr
90,000
30,000
19,200
345,600
23,400
36,000
40,000
135,000
719,200

May
90,000
30,000
19,200
345,600
23,400
36,000
40,000
135,000
719,200

Jun
90,000
30,000
19,200
345,600
23,400
36,000
40,000
117,000
701,200

Jul
90,000
30,000
19,200
345,600
23,400
36,000
40,000
117,000
701,200

Total
1,080,000
360,000
230,400
4,147,200
280,800
432,000
480,000
1,530,000
8,540,400

Year 5
Food court
Prepared Food
Processed Food
Fresh Meat
Fresh Vagetable
Fruits
Miscellaneouse
Temporary Stalls
TOTAL

Aug
90,000
30,000
19,200
345,600
23,400
36,000
40,000
117,000
701,200

Sep
90,000
30,000
19,200
345,600
23,400
36,000
40,000
117,000
701,200

Oct
90,000
30,000
19,200
345,600
23,400
36,000
40,000
144,000
728,200

Nov
90,000
30,000
19,200
345,600
23,400
36,000
40,000
144,000
728,200

Dec
90,000
30,000
19,200
345,600
23,400
36,000
40,000
144,000
728,200

Jan
90,000
30,000
19,200
345,600
23,400
36,000
40,000
144,000
728,200

Feb
90,000
30,000
19,200
345,600
23,400
36,000
40,000
144,000
728,200

Mar
90,000
30,000
19,200
345,600
23,400
36,000
40,000
144,000
728,200

Apr
90,000
30,000
19,200
345,600
23,400
36,000
40,000
144,000
728,200

May
90,000
30,000
19,200
345,600
23,400
36,000
40,000
144,000
728,200

Jun
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

Jul
90,000
30,000
19,200
345,600
23,400
36,000
40,000
126,000
710,200

Total
1,080,000
360,000
230,400
4,147,200
280,800
432,000
480,000
1,638,000
8,648,400

46

Total Revenue
Table: Total of revenue
Year 1
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Total revenue

Year 2
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue

Year 3
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue

Aug
5,628,500
17,580
5,646,080

Aug
1,272,000
642,990
16,080
15,000
1,946,070

Aug
1,134,500
740,910
17,580
15,000
1,907,990

Sep
16,080
16,080

Oct
16,080
16,080

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

581,490
17,580
599,070

581,490
16,080
15,000
612,570

581,490
16,080
15,000
612,570

581,490
16,080
15,000
612,570

551,490
21,750
15,000
588,240

551,490
16,080
15,000
582,570

551,490
17,580
15,000
584,070

551,490
16,580
15,000
583,070

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

642,990
16,080
15,000
674,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

657,990
16,080
15,000
689,070

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

740,910
16,080
15,000
771,990

785,910
16,080
15,000
816,990

785,910
16,080
15,000
816,990

785,910
17,580
15,000
818,490

785,910
17,580
15,000
818,490

785,910
17,580
15,000
818,490

785,910
16,080
15,000
816,990

785,910
17,580
15,000
818,490

785,910
16,080
15,000
816,990

755,910
16,080
15,000
786,990

Jul
551,490
17,580
15,000
584,070

Jul
657,990
16,080
15,000
689,070

Jul
755,910

18,030
15,000
28,000
816,940

Total
5,628,500
5,083,410
205,130
120,000
11,037,040

Total
1,272,000
8,105,880
192,960
180,000
9,750,840

Total
1,134,500
9,280,920
202,410
180,000
28,000
10,825,830

47

Year 4
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue

Year 5
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

755,910
17,580
15,000
788,490

755,910
16,080
15,000
786,990

800,910
16,080
15,000
831,990

800,910
16,080
15,000
831,990

800,910
17,580
15,000
833,490

800,910
17,580
15,000
833,490

800,910
17,580
15,000
833,490

800,910
16,080
15,000
831,990

800,910
17,580
15,000
833,490

800,910
16,080
15,000
831,990

770,910
16,080
15,000
801,990

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

770,910
17,580
15,000
803,490

779,200
16,080
15,000
810,280

824,200
16,080
15,000
855,280

824,200
16,080
15,000
855,280

824,200
17,580
15,000
856,780

824,200
17,580
15,000
856,780

824,200
17,580
15,000
856,780

824,200
16,080
15,000
855,280

824,200
17,580
15,000
856,780

824,200
16,080
15,000
855,280

794,200
16,080
15,000
825,280

Jul
770,910

18,030
15,000
30,000
833,940

Jul
794,200

18,030
15,000
30,000
857,230

Total
9,460,920
202,410
180,000
30,000
9,873,330

Total
9,732,110
202,410
180,000
30,000
10,144,520

48

Show calculation of each number from


Description

Lease per
Stall
52,500.00
36,500.00
32,500.00
52,500.00
20,000.00
32,500.00
40,000.00
266,500.00

Stalls

Food Court
Prepared Food
Processed Food
Fresh Meat
Fresh Vegetable
Fruits
Miscellaneous goods

20
20
16
64
30
30
20
200

Total
1,050,000.00
730,000.00
520,000.00
3,360,000.00
600,000.00
975,000.00
800,000.00
8,035,000.00

Table show total revenue from lease

Description

Year 1
Stalls

Food Court
Prepared Food
Processed Food
Fresh Meat
Fresh Vegetable
Fruits
Miscellaneous goods

Year 2
Stalls
14
14
11
45
21
21
14

140(70%)

17
17
14
55
26
26
17
172(85%)

Year 4

Year 3
Stalls

Stalls
20
20
16
64
30
30
20

200(100%)

Year 5
Stalls

20
20
20
20
16
16
64
64
30
30
30
30
20
20
200(100%) 200(100%)

Table show amount of stall that rented in each year

49

Year1: Revenue from lease


We forecast that in year 1 there are vendors rent stall around 70% of total stall, so we
can calculate revenue from lease in year 1 as following.

Description
Food Court
Prepared Food
Processed Food
Fresh Meat
Fresh Vegetable
Fruits
Miscellaneous goods
Total

Year 1
Stalls
14
14
11
45
21
21
14
140

Lease
per stall
52,500
36,500
32,500
52,500
20,000
32,500
40,000
266,500

Total
735,000
511,000
357,500
2,362,500
420,000
682,500
560,000
5,628,500

Year2: Revenue from lease


We forecast that in year 2 there are vendors rent stall around 85% of total stall, so we
can calculate revenue from lease in year 2 as following.

Description
Food Court
Prepared Food
Processed Food
Fresh Meat
Fresh Vegetable
Fruits
Miscellaneous goods
Total

Year 2
Stalls
3
3
2
10
5
5
3
31

Lease
per stall
52,500
36,500
32,500
52,500
20,000
32,500
40,000
266,500

Total
157,500
109,500
65,000
525,000
100,000
162,500
120,000
1,239,500

50

Year3: Revenue from lease


We forecast that in year 3 there are vendors rent stall 100 % of total stall, so we can
calculate revenue from lease in year 3 as following.

Description
Food Court
Prepared Food
Processed Food
Fresh Meat
Fresh Vegetable
Fruits
Miscellaneous goods
Total

Year 3
Stalls
3
3
2
9
4
4
3
28

Lease
per stall
52,500
36,500
32,500
52,500
20,000
32,500
40,000
266,500

Total
157,500
109,500
65,000
472,500
80,000
130,000
120,000
1,134,500

Year1: Revenue from renting permanent stall

Description
Food court
Prepared food
Processed food
Fresh food
Fresh vegetable
Fruits
Miscellaneous goods
Total

Total rent
Stalls
Rent per
Promotion for
(AxB)-C
=D
70%*(A) month (B)
Header**(C)
14
4,500
2,250
60,750
14
1,500
750
20,250
11
1,200
600
12,600
45
5,400
2,700
240,300
21
780
390
15,990
21
1,200
600
24,600
14
2,000
1,000
27,000
140

16,580

* 70% are a forecast for opening new fresh market .


**Promotion for header is a forecast from one header per a zone.

8,290

401,490

51

Year2: Revenue from renting permanent stall

Description
Food court
Prepared food
Processed food
Fresh food
Fresh vegetable
Fruits
Miscellaneous goods
Total

Total rent
Stalls
Rent per Promotion for
85%*(A) month (B) Header**(C) (AxB)-C = D
17
4,500
2,250
74,250
17
1,500
750
24,750
14
1,200
600
16,200
55
5,400
2,700
294,300
26
780
390
19,890
26
1,200
600
30,600
17
2,000
1,000
33,000
172

16,580

8,290

492,990

* 85% are a forecast for opening new, and are growing our market.
**Promotion for header is a forecast from one header per a zone.

Year3: Revenue from renting permanent stall


Total rent
Stalls
Rent per Promotion for
Description
100%*(A) month (B) Header**(C) (AxB)-C = D
20
4,500
2,250
87,750
Food court
20
1,500
750
29,250
Prepared food
16
1,200
600
18,600
Processed food
64
5,400
2,700
342,900
Fresh food
30
780
390
23,010
Fresh vegetable
30
1,200
600
35,400
Fruits
20
2,000
1,000
39,000
Miscellaneous goods
Total
200
16,580
8,290
575,910
* It is a constant stall.
**Promotion for header is a forecast from one header per a zone.

Note: Year 4 and Year 5 are same with year3.

52

Show calculation of rent of shop stall (Temporary)


Number of Stalls
(A)
100

Rent per day (B)


100

Total baht per day


(AxB) = D
10,000

Stall for year 1


Nov13, Dec13, Jan14, Feb14

10,000

Baht per day

Forecast 60% of total*

(10,000 x 60)/100

Baht per day

Total of rent

6,000

Baht per day

Or total of rent (x30)

180,000

Baht per month

*60% are a forecast for opening new fresh market.

Mar14,Apr14,May14,Jun14,Jul14

10,000

Baht per day

Forecast 50% of total*

(10,000 x 50)/100

Baht per day

Total of rent

5,000

Baht per day

Or total of rent (x30)

150,000

Baht per month

*50% are a forecast of season example Mar57, Apr57 are a period of end of semester in the
school and our market is located near Tesaban6 School, and May57, Jun57, Jul57 are the rainy
season in Thailand.

Stall for year 2


Aug14, Sep14

10,000

Baht per day

Forecast 50% of total*

(10,000 x 50)/100

Baht per day

Total of rent

5,000

Baht per day

Or total of rent (x30)

150,000

Baht per month

*50% are a forecast of season example Aug57, Sep57 are the rainy season in Thailand.

53

Oct14-Dec14, Jan15-May15

10,000

Baht per day

Forecast 65% of total*

(10,000 x 65)/100

Baht per day

Total of rent

6,500

Baht per day

Or total of rent (x30)

195,000

Baht per month

*65% are a forecast for growth our market, and fresh market is a slow-growth or constant
business.

Jun15, Jul15

10,000

Baht per day

Forecast 55% of total*

(10,000 x 55)/100

Baht per day

Total of rent

5,500

Baht per day

Or total of rent (x30)

165,000

Baht per month

*55% are a forecast for growth our market, and fresh market is a slow-growth or constant
business, however Jun58, Jul58 are a period of end of semester in the school by according to
Chiangrai Montessori School about ASEAN and our market is located near Tesaban6 School
and it is the rainy season in Thailand.
http://www.thaischool.in.th/57010002/newseducation/19004/

Stall for year 3


Aug15,Sep15

10,000

Baht per day

Forecast 55% of total*

(10,000x 55)/100

Baht per day

Total of rent

5,500

Baht per day

Or total of rent (x30)

165,000

Baht per month

*55% are a forecast of season example Aug57, Sep57 are the rainy season in Thailand.

Oct15-Dec15, Jan16-May16

10,000

Baht per day

Forecast 70% of total*

(10,000x 70)/100

Baht per day

Total of rent

7,000

Baht per day

Or total of rent (x30)

210,000

Baht per month

*70% are a forecast for growth our market, and fresh market is a slow-growth or constant
business.

54

Jun16, Jul16

10,000

Baht per day

Forecast 60% of total*

(10,000x 60)/100

Baht per day

Total of rent

6,000

Baht per day

Or total of rent (x30)

180,000

Baht per month

*60% are a forecast for growth our market, and fresh market is a slow-growth or constant
business, however Jun58, Jul58 are a period of end of semester in the school by according to
Chiang Rai Montessori School about ASEAN and our market is located near Tesaban6 School
and It is the rainy season in Thailand.
http://www.thaischool.in.th/57010002/newseducation/19004/
Stall for year 4
Aug16, Sep16

10,000

Baht per day

Forecast 60% of total*

(10,000x 60)/100

Baht per day

Total of rent

6,000

Baht per day

Or total of rent (x30)

180,000

Baht per month

*60% are a forecast of season example Aug57, Sep57 are the rainy season in Thailand.
Oct59-Dec59, Jan60-May60

10,000

Baht per day

Forecast 75% of total*

(10,000x 75)/100

Baht per day

Total of rent

7,500

Baht per day

Or total of rent (x30)

225,000

Baht per month

*75% are a forecast for growth our market, and fresh market is a slow-growth or constant
business.
Jun17, Jul 17

10,000

Baht per day

Forecast 65% of total*

(10,000x 65)/100

Baht per day

Total of rent

6,500

Baht per day

Or total of rent (x30)

195,000

Baht per month

*65% are a forecast for growth our market, and fresh market is a slow-growth or constant
business, however Jun58, Jul58 are a period of end of semester in the school by according to
Chiangrai Montessori School about ASEAN and our market is located near Tesaban6 School
and it are the rainy season in Thailand.
http://www.thaischool.in.th/57010002/newseducation/19004/

55

Stall for year 5


Aug17, Sep17

10,000

Baht per day

Forecast 65% of total*

(10,000x 65)/100

Baht per day

Total of rent

6,500

Baht per day

Or total of rent (x30)

195,000

Baht per month

*65% are a forecast of season example Aug57, Sep57 are the rainy season in Thailand.

Oct17-Dec17,Jan18-May18

10,000

Baht per day

Forecast 80% of total*

(10,000x 80)/100

Baht per day

Total of rent

8,000

Baht per day

Or total of rent (x30)

240,000

Baht per month

*80% are a forecast for growth our market, and fresh market is a slow-growth or constant
business.

Jun18, Jul18

10,000

Baht per day

Forecast 70% of total*

(10,000x 70)/100

Baht per day

Total of rent

7,000

Baht per day

Or total of rent (x30)

210,000

Baht per month

*70% are a forecast for growth our market, and fresh market is a slow-growth or constant
business, however Jun58, Jul58 are a period of end of semester in the school by according to
Chiangrai Montessori School about ASEAN and our market is located near Tesaban6 School
and they are the rainy season in Thailand.
http://www.thaischool.in.th/57010002/newseducation/19004/

56

Calculating Income of the toilets


-

Collect 3 baht per 1 time


Predict the number of the customers who will use the toilets per a day.
Week
No. of
Price per
Total
customer
time
Mon
270
3
810
Tue
130
3
390
Wed
150
3
450
Thu
140
3
420
Fri
220
3
660
Sat
250
3
750
Sun
180
3
540
1,340
Total
3
4,020

Total per month 4,020 * 4 = 16,080 Baht


Total per Year 16,080*12 = 192,960 Bah

Market Expense

Programs
Jan
Advertising on local radio 3 months
Local newspaper 1 months
Radio car advertising 6 days
(1,800 baht per car per day)
Board on roadside
Grand opening
Total

Feb

Mar

Apr

May
Jun
3,000 3,000

30,000
33,000

Jul
Aug
3,000
500
32,400

Sep

Oct

Nov

Dec

30,000
33,000

60,000
35,900 60,000

Conclusion
From the market analysis in term of Environment, Social, Economic, Technology and
Political Analysis founded that Mee Sub Market has an opportunity to grow and generate profit
in this business. Mee Sub Market has the competitive advantage on the location. It located in a
wide open area with a parking space. Mee Sub market positioning is the fresh market that
concern about health of customers like cleanness, the conveniently, the variety of product with
the quality price. The target market of the product is woman who has 35-60 years old. Mee Sub
Market use IMC strategy to communicate with seller and consumer. It also provide the benefit
which suitable for sellers. Moreover, from the information, we forecast that the income
received from sale is continuous increasing until renting stall is full. After that we will have
revenue as stable amount in long term.

Total
9,000
500
32,400
60,000
60,000
161,900

Chapter 4
Investment Cost

58

Cost of Investment

Pre-operating Cost

Pre-operation
No.
Documents
Step 1: Contact City Municipal (Department of Public
Works and Town & Country Planning)
Documentation of construction permits(Form .1)
1.1 Identity Card
1.2 House registration
1.3 Land title deed (title deed, 3.,
actual size paper(front-back)
License for Architecture (fellow
1.4 architecture
or second level)
1.5 License for Professional Practice or
Controlled Engineer Lincence (
Diploma,
Identity Card, Licence)
1.6 List of Engineering calculations
License for Civil Engineer or
1.7 Architect
Blueprint or Construction
1.8 drawings
1.9 Layout plan
Form .1 fee
1.10

Copy Qty Cost/Baht

1
2
1

0.25
0.50
2.00

277,705.05

277,705.05

158,688.86

277,705.05

3
3
1

15.00
15.00
2,963.00

1
1

0.25
0.25

Step 2: Airport office


Construction permit for hover craft
2.1 area
*Identity Card
*House Card
Step 3: Provincial Electricity Authority &
Provincial Waterworks
Authority
Installation for temporary
3.1 electricity
*Cost of insurance = 6,000.00
*Installation of 15 M 3 Fed rate:
6.4343
20,000 baht
(6,000+20,000)
3.2 Installation for temporary water

26,000.00

12,190.00

59

supply
*Cost of insurance = 4,700.00
*Installation fee = 7,490.00
(4,700+7,490)
Step 4: Land

4.1 Land (5)


To construction the Fresh
4.2 market

Step 5: District Office


5.1 Office registration number
*Form 0.1 construction permit
*Identity Card
*Own house registration
*Land title deed(front-back)
*Layout area map
*Photo of Layout area(color)

1
1
1
1
1
2

Step 6: Provincial Electricity Authority &


Provincial Waterworks Authority
and
TOT (office telephone &
internet)
Installation for permanent
6.1 electricity
*Cost of insurance = (6,000.00)
*Metre
*Transformer 50 KVA
*MDB (80M)
*Expand high voltage system 100
SQM =
100,000 baht (500 SQM*100,000)
*Expand high voltage system into
the
building
Installation for permanent water
6.2 supply
*Cost of insurance = (4,700.00)
*Installation fee
Installation for the telephone and
6.3 internet
line
Step 7: District Public Health Office
7.1 Public Health permit

0.25
0.25
0.25
1.00
5.00
10.00

-6,000.00
4,621.50
250,000.00
50,000.00

1
1
1

500,000.00

250,000.00

4,700.00
1,070.00
374.50

20.00

60

Step 8: Opening the Fresh Market


Step 9: Tax registration
9.1 House and building tax
(contact after 1 year opening)
9.2 Signboard Tax
(contract within 15 days after
opening)
TOTAL

2,078,393.01

Calculation
1.4 License for Architecture (fellow architecture
or second level)
The rate of percentage is from Act of Architecture legislation 2542
Budget X 1.75% = Price
15,868,860 x 1.75% = 277,705.05 baht
1.5 License for Professional Practice or
Controlled Engineer License
The rate of percentage is from Act of Architecture legislation 2542
Budget X 1.75% = Price
15,868,860 x 1.75% = 277,705.05 baht
1.7 License for Civil Engineer or Architect
The rate of percentage is from Act of Architecture legislation 2542
Budget X 1.75% = Price
15,868,860 x 1.75% = 158,688.86 baht
Blueprint or Construction
1.8 drawings
Budget X 1% =
Price
15,868,8860 x 1% = 277,705.05 baht
1.10 Form .1 fee
Building area = 1,664 SQM
Parking lot = 462 SQM
Toilet area = 144 SQM
Signboard = 18
SQM
Paper fee = 20
baht

61

* Building higher that 2 stories but not exceed than 12 SQM pay
Area 1,664 SQM x 0.50 baht = 832 baht
* Parking lot
Area 462 SQM x 0.50 baht = 231 baht
* Culvert of building which includes toilet
Area 1,664 SQM + 144 SQM = 1,808 SQM x 1.00 = 1,808 baht
*Sign board 18 SQM x 4 baht = 72 baht
From .1 fee
832+231+1,808+72+20 = 2,963 baht

Investment cost
1. Land
We plan to buy 25 million for land. The land size is equal 9,456 square meters.
Although the land is quite expansive and has to spend a lot of money to invest it, this
land is near to the main road. Moreover, around the zone is beginning commercial
building and is constructing road. So, investing for the land can provide a lot of
benefits for investors in the future.
Cost of Land is 25 million baht.
2. Building

Order
1

2
3
4
5

Core building
Concrete work
- Floor
-

Pillar

Stall

Roof work
Color work
Miscellaneous
Name board
(200cm*900cm)

Total

Quantity

Unit

Price/Unit

Total

1,980

Square Meter

2,450

4,851,000

1,980
1,980
1,980
-

Square Meter
Square Meter
Square Meter
-

1,980
50
500
25,000

3,920,400
99,000
990,000
25,000

9,885,400

62

Order

Option building

Quantity

Unit

Concrete work for office


and toilet
- Floor
- Pillar
- Wall
Roof work
Color work
PVC door 0.60x1.80 m.
Office glass
Concrete work for
parking lot
Electricity work
Water supply
Wastewater treatment
work
- Wastewater
treatment tank
1800 liter
- Grease trap
tank
- Grease trap
& waste trap well
- Reinforced
Concrete Drain
- Total wage

146

Square Meter

2,450

357,700

48
146
50
5
260

Square Meter
Square Meter
Set
Square Foot
Square Meter

1,980
50
1,530
80
2,450

194,040
7,300
76,500
400
646,800

9,240
10

Square Meter
Spot

500
1,000

4,620,000
10,000

Set

22,920

45,840

Set

3,925

7,850

Set

3,000

3,000

178
-

Meter
-

144
13,398

25,632
13,398
6,008,460
15,893,860

2
3
4
5
6
7
8
9

Total
Total

Price/Unit

Total

63

Location

Location
Mee Sub Market is located on Rop Wiang District, Chiang Rai. It is on the bypass of
Chiang Rai province. It located in the community which closes to the airport, the school, the
university and the local government office.

64

65

Equipment

66

67

Meat, Pork

Chicken, Fish, Sea Food

68

Processed food, Vegetable, Fruit

Miscellaneous goods

69

Food court

http://www.sumc.in.th/modules/document/index.php?mode=detail1&id=18

70

3.

Equipment

We plan to use these equipments to run our business. These equipments will be used in
our office, market building and other area in our market.
1. Office equipment
No.

Picture

Equipment

Brand/Detail

Price/Piece
(Baht)
HP Omini 12015,265
1228L PC Intel
Pentium G870
(3.1 GHz 3 MB
L2 Cache)
HP Desktop PC
15,990
Pavillion HPE
h8-1223l Intel
Core i3 3-2120
Brother printer
3,870
Color Inkjet
MFC-J430W

Amount

Total

15,265

15,990

3,870

Monitor with
Keyboard
and Mouse

CPU

Printer

Telephone

CK 2255

360

360

Air-Condition

16,190

16,190

Office Desk

MITSUBISHI
MS-MUSGH09VC No.5
8699-BTU
Econo Air
TWC-1202/C

1,990

3,980

Office Chair

850

1,700

Chair

440

1,760

71

File cabinet

5,700

5,700

10

File

Horse H-403
F/C
(6 Piece/Pack)

325

325

11

Stapler

House HD-10

38

38

12

Security
camera

AVTECH
Set of 4 cameras

19,900

39,800

13

Paper punching

Elephant DP480

61

61

14

Calculator

CASIO
14digitals DJ240D

725

725

15

Socket

290

870

Centure CB-72

Data Power
WL45

16

Broom

30

30

17

Dustpan

25

125

18

LAN

CAT 5

200

200

72

19

Bin

38

76

20

Chair

650

1,300

21

Bicycle

Bridgestone
lococo

4,500

4,500

22

Radio
communication

1,600

3,200

23

Refrigerator

IC-UV-95
DUAL BAND
VHF/245 MHz
Hitachi/ R-49 S
4.9 cubic

5,350

5,350

24

Voice
evacuation
panel

17,240

17,240

25

Microphone

2,010

2,010

390

390

1,098

1,098

2,790

2,790

5,990

5,990

TOA/
FS-7000EV
TOA/
PM-660

26
Electrical fan

COSMO/
12" COSMO
KAWA

27
Electrical fan

HATARI/
HT-S18M2

28

Monitor

29
TV

Acer Monitor
18.5"
G195HQVBb
Toshiba Regza
LCD TV 24"

Total (Baht)

150,933

73

Note: Computer
Office equipment
Office supply
Office stationary

31,255 Baht
119,678 Baht
5,000 Baht

Total cost of office equipment and supply (excluding cost of computer) is 124,678 Baht.
2. In the market building
No.

Picture

Equipment

Brand/Detail Price/Piece
(Baht)
Chicken
1,390
Balloon
60 kgs.

Amount

Total

2,780

Scale

Fire
extinguisher

GLORIO
15 pounds

880

1,760

Broom

30

10

300

Table

790

24

18,960

Chair

1,900/Dozen

15,200

Speaker

1,940

7,760

960

3,840

1,590

6,360

TOA/
TH-650

Driver unit

TOA/
TU-651

Matching
Transformer

TOA/
TM-60T

Total (Baht)

56,960

74

3. Toilet
- Equipment in toilet
No.

Picture

Equipment Brand/Detail Price/Piece


(Baht)
Urinal
KARAT
1,958

Amount

Total

9,790

Lavatory

KARAT

931

5,586

Toilet

KARAT

1,573

13

20,449

Toilet

KARAT

3,370

10,110

Rinsing
spray

Hang

145

435

Bin

18

15

270

Mirror

100 cm*200
cm

1,900

3,800

Mirror

Coolya

125

125

Bowl

15

13

195

Total (Baht)
-

Toilet supply (e.g. toilet brush, cleaning liquid etc.)

Total cost of toilet equipment and supply

50,760

5,000 Baht

55,760 Baht

75

4. Other equipments
No.
1

Picture

Equipment Brand/Detail Price/Piece


(Baht)
Container
60,000
for garbage

Amount

Total

120,000

Bin

OTTO- 120
liters

1,550

9,300

Road sign

3,000

12,000

Brahma

12,999

12,999

Pedestal

17,000

17,000

7 size

Total (Baht) 171,299


Source:

http://www.majestic-home.com
http://www.crhouseware.com
http://www.priceza.com
http://www.furniturehall.com
http://www.officemate.co.th
http://www.spksound.co.th
http://rungsubfurniture.tarad.com
http://enchchok.tarad.com
http://shoppingonline.bigc.co.th

76

Table: Total cost of investment

From the table show that total cost of investment is 43,387,205.01 Baht.

Investment
Pre-operating
Land
Building
Office
equipments/supply
Computer
Equipment in
market building
Toilet
equipments/supply
Other equipments
Total

Amount
(Baht)
2,078,393.01
25,000,000
15,893,860
119,678

Depreciation
20 years
5 Years

Annual
depreciation
794,693
23,935.60

Monthly
depreciation
66,224.42
1,994.63

31,255
56,960

3 years
5 years

10,418.28
11,392.00

868.19
949.33

50,760

5 Years

10,152.00

846.00

171,299
43,402,205.01

5 Years

34,259.80
884,850.68

2,854.98
73,737.55

77

Depreciation Expense in 5 years

Depreciation year 1
Asset
Building
Office Equipment
Computer
Market Equipment
Toilet Equipment
Other Equipment
Total

Value
15,893,860.00
119,678.00
31,225.00
56,960.00
50,760.00
171,299.00
16,323,782.00

January February
March
April
May
June
July
August September October November December
66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42
1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98
73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55

Total
794,693.04
23,935.56
10,418.28
11,391.96
10,152.00
34,259.76
884,850.60

Depreciation year 2
Asset
Building
Office Equipment
Computer
Market Equipment
Toilet Equipment
Other Equipment
Total

Value
January February
March
April
May
June
July
August September October November December
15,099,166.96 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42
95,742.44
1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63
20,806.72
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
45,568.04
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
40,608.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
137,039.24
2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98
15,438,931.40 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55

Total
794,693.04
23,935.56
10,418.28
11,391.96
10,152.00
34,259.76
884,850.60

Depreciation year 3
Asset
Building
Office Equipment
Computer
Market Equipment
Toilet Equipment
Other Equipment
Total

Value
January February
March
April
May
June
July
August September October November December
14,304,473.92 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42
71,806.88
1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63
10,388.44
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
34,176.08
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
30,456.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
102,779.48
2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98
14,554,080.80 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55

Total
794,693.04
23,935.56
10,418.28
11,391.96
10,152.00
34,259.76
884,850.60

78

Depreciation year 4
Asset
Building
Office Equipment
Computer
Market Equipment
Toilet Equipment
Other Equipment
Total

Value
January February
March
April
May
June
July
August September October November December
13,509,780.88 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42
47,871.32 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63
-29.84
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
22,784.12
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
20,304.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
68,519.72 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98
13,669,230.20 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55

Total
794,693.04
23,935.56
10,418.28
11,391.96
10,152.00
34,259.76
884,850.60

Depreciation year 5
Asset
Building
Office Equipment
Computer
Market Equipment
Toilet Equipment
Other Equipment
Total

Value
January February
March
April
May
June
July
August September October November December
12,715,087.84 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42 66,224.42
23,935.76 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63 1,994.63
-10,448.12
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
868.19
11,392.16
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
949.33
10,152.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
846.00
34,259.96 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98 2,854.98
12,784,379.60 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55 73,737.55

Total
794,693.04
23,935.56
10,418.28
11,391.96
10,152.00
34,259.76
884,850.60

Conclusion
We will invest in establishing a fresh market: Mee Sub Market is located on Rop Wiang District, Chiang Rai. It is on the bypass of
Chiang Rai province. It located in the community which closes to the airport, the school, the university and the local government office. We
decide to buy the land in 25 million because land is the asset that has no depreciation and it will provide the benefits to our company in the
future. We spend 43,402,205 baht for the investment by loan from a bank. Although we have to spend a lot of money for this investment, this
will provide benefits in long term. The construction of building is constructed by focusing on convenience of seller and buyer, fineness and
cleanness of the building.

Chapter 5
Technical analysis

80

Production and Operation management


Product Characteristic
Nowadays in Chiang Rai, there are a continuous increasing number of populations that
cause an increasing demand in various fields. According to the demand in food which is one of
the most important factors in human life, the fresh market becomes an alternative for consumer
in order to purchase and consume products.
Mee Sub Market Planned and created follow by the need of consumer and the market
concern on the behavior of consumer in Chiang Rai. The market located in the wide open space
and convenience to come. There has a wide parking space to avoid the traffic jam problem.
Due to the preliminary research founded that most of the market located in a crowed
community with no parking space. This point causes the traffic jam problem. Mee Sub Market
provides the parking space with the entrance and exist channel. It will benefits to consumers
who come to the market to move the car easily. Moreover, there is the special parking area for
sellers who would like to transport their goods. Characteristic of Mee Sub Market are created
to be wide open and ventilated. All stalls are organized into 4 zones categorized by the type of
the product including Fresh food, Dried food, Food center and miscellaneous. The product sell
must be fresh as the ministry of health defined and for good hygiene of consumers.
Furthermore, Mee Sub Market provides the area in front of the market for hawker seller who
wants to sell products apart from all products in the market. Mee Sub Market created the
dinning seat area with an entertainment media for consumer and seller to take rest and consume
the product. The market also provides the toilet which located in the back of the market nearby
the parking area. There will have a housekeeping to clean up all the time for a good hygiene of
users.
In conclusion, Mee Sub Market concern most on the benefit consumer will receive. The
market created follow by the information from the research of the behavior of consumer, the
life style and the characteristic of all fresh market in Mueng, Chiang Rai to create the best fresh
market which match with the need of consumer.

81

Specification, Feather, Dimension, Life time, Etc.


Zones
1. Fresh Food
- Fresh Meat

- Fresh Vegetable

- Fresh Fruits
2. Dried Food
- Processed food

Products
- Seafood
- Pork
- Chicken
- Beef
- Local vegetable
- Seasonal vegetable
- Seasonal fruits
- processed vegetable
- Shrimp paste
- cayenne pepper
- fermented food

- prepared food

- Thai food
- Local Food

- Dessert

- Thai Dessert
- Local dessert
- 5 Make to order
- 3 Noodle
- 4 Curry on top
- 6 Fast Food
- 2 Drinking Water
- Appliance
- House tool
- etc.

3. Food Court

4. Miscellaneous

Service Process
Announcement of new fresh market
Mee Sub Market start to promote and announce to the public that new fresh market
is now open and the market is a Healthy Market that can attract to healthy concern persons.
This will encourage people to know and interest to come to visit the market. Moreover this
announcement will ask for those sellers who want to make a preservation of stall to sell
products with many promotion and benefit provided
Orientation and Agreement
For those sellers who won the booth auction will ask to make an agreement with the
market. Then they need to participate in the Mee Sub Market orientation to understand the
policies and all conditions of selling the product in order to stay together with happiness both
the market and the seller.

82

Administration Analysis
1. Employee salary
Accountant consulting and manager 2 person
Securities
2 person (2 x 9,000)
Made
2 person
Total salary expense per month
2.
3.
4.
5.

30,000.00 Baht.
18,000.00 Baht
18,000.00 Baht
66,000.00 Baht

Electricity expenses
Water expenses
Internet and telephone expenses
Garbage fees 1 container = 1,200 baht per time
1 month = 2 times
(2 containers x2times x1, 200 baht)

71,005.20 Baht
48,625.89 Baht
1,165.23 Baht
4,800.00 Baht

Total expense per month

125,596.32

Baht

6. Tax payment
Sign board Tax
(200 cm. x 900 cm. x 20 baht)/500 square cm.
House and building Tax
Permit of fresh Market establishment
Total expense per year

7,200.00 Baht
9,984.00 Baht
2,000.00 Baht
19,184.00

Baht

*Social Security of employee each person 15,000 x 5% = 700 use rate 4:1 = 140 per
month
*Social Security of made each person 9,000 x 5% = 450 use rate 4:1 = 90 per month
*The sign board tax = (width x length x rate of board)/ 500 square centimeter
House and building tax = width x length x tax rate x 12.5%
Permit of fresh Market establishment that payment 2,000 in every year
Electricity expense calculated by electrical engineer
Electricity rate: 3.50 bath per unit
Assume used 144 light bulbs = 1.3 units /12 hours/day/stall
The Fresh Market used 350 light bulbs
(350/144) x1.3 = 3.16units per stall
3.16 x 200 stalls = 632 units per day
632 x 30 days = 18,960 units
18,960 x 3.50 = 66,360 baht
66,360 x 7% vat = 71,005.20 baht per month

83

Water expense
Catalogue
Seafood
Meat
Vegetable
Fruit
Restaurant
Readymade
Other
Food
Temporary stall
Office
Toilet (Lady)
Toilet(Man)

Stall
24
40
30
30
20
16
20
20
50
-

Room
1
10
5
TOTAL

Liter
250
600
200
20
350
300
10
100
10
100
500
350

Total liter
6,000
24,000
6,000
6,000
7,000
4,800
200
2,000
500
100
10,000
3,500

Cube meter
6
24
6
6
7
4.8
0.2
2
0.5
0.1
5
1.75
51.35

Calculation for water supply per month


Water supply rate for business: 29.50 baht per unit
51.35 x 30 days = 1,540.5 units per month
1,540.50 x 29.50 = 45,444.75 baht
45,444.75 x 7%VAT = 48,625.89 baht per month
Internet and telephone expense: registration package pay per month
Call package 499 baht per month from 6 am - 6 pm
499 x 7% vat = 533.93 baht
Internet package 10mb = 590 per month
590 x 7% vat = 631.30 baht
Total expense: 1,165.23 baht per month
Rate of soild wast expense (Act. ())
1 Cube meter 250 bath
16x250 = 4,000 Baht per two month

Cleaning Fresh Market 1,500 Baht per time


2x15,000 = 30,000 baht per month
Per set
Formalin
Contaminant Assay

300
5,760
4,800
Total

Equipment test
1,500
-

Total
1,800
5,760
4,800
12,360

84

Administrative cost in 5 years


Year 1
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14

Describtion
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellanous
Toxin Assays
Total

Base
66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
1,200
4,000
7,198
3,000
7,000
12,360

August September October November December


66,000
66,000
66,000
66,000
66,000
640
640
640
640
640
71,005
71,005
71,005
71,005
71,005
48,626
48,626
48,626
48,626
48,626
1,165
1,165
1,165
1,165
1,165
4,800
4,800
4,800
4,800
4,800
4,000
4,000
4,000
3,000
3,000
3,000
3,000
3,000
7,000
7,000
7,000
7,000
7,000
12,360
12,360
12,360
12,360
12,360
218,596
214,596
218,596
214,596
218,596

January
66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

Febuary
66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

March
66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

April
66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

May
66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

June
66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

July
66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

September October November December January

Febuary

March

April

May

June

July

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

Year 2
No

Describtion

1
2
3
4
5
6
7
8
9
10
11
12
13
14

Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellanous
Toxin Assays
Total

Base

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
1,200
4,000
7,198
3,000
7,000
12,360

August

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

85

Year 3
No

1
2
3
4
5
6
7
8
9
10
11
12
13
14

Describtion

Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellanous
Toxin Assays
Total

Base

August September October NovemberDecember January Febuary

March

April

May

June

July

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
1,200
4,000
7,198
3,000
7,000
12,360

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

June

July

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

Year 4
No

1
2
3
4
5
6
7
8
9
10
11
12
13
14

Describtion

Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellanous
Toxin Assays
Total

Base

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
1,200
4,000
7,198
3,000
7,000
12,360

August

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

September October November December January

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

Febuary

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

March

April

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

May

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

86

Year 5
No

Describtion

1
2
3
4
5
6
7
8
9
10
11
12
13
14

Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellanous
Toxin Assays
Total

Base

August September October NovemberDecember January Febuary

March

April

May

June

July

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
1,200
4,000
7,198
3,000
7,000
12,360

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

87

Conclusion:
Facilities Management has always been a part of the repertoire of any outsourcing lawyer, but
in the last year or so, the volume, scale and complexity of deals has increased.Facilities
management discipline that supports and improves core company processes and increases
return on investment by result-oriented use of resources, services, and activities, vital to the
success of any organization. There are several advantages stacked in the favor of facilities
management, including, cost advantage, economies of scale, and efficient management of
facilities and assets. Despite the complexities aspect by regulations and employee rights,
efficient facility management strategies can still growth. The market is set to expand, in the
upcoming years, small and medium sized businesses as well public facilities are waking up to
benefits of facilities management industry.

Chapter 6
Financial Analysis

89

Financial Analysis
Our company has an initial capital as 51,402,205 baht that is divided into 2 parts. One
part is capital from entrepreneur as 8,000,000 baht. Another part is an investing budget or the
cost of this project that is 43,402,205 baht. The amount of money we loan from the bank with
the 6 percents interest rate and payoff debt within 12 years.

The amortization schedule


Year
1
2
3
4
5
6
7
8
9
10
11
12
Total

Beginning Balance

43,402,205
40,829,424
38,102,276
35,211,500
32,147,276
28,899,200
25,456,239
21,806,700
17,938,188
13,837,567
9,490,907
4,883,448

PMT
5,176,913
5,176,913
5,176,913
5,176,913
5,176,913
5,176,913
5,176,913
5,176,913
5,176,913
5,176,913
5,176,913
5,176,913
62,122,959

INT
2,604,132
2,449,765
2,286,137
2,112,690
1,928,837
1,733,952
1,527,374
1,308,402
1,076,291
830,254
569,454
293,007
18,720,296

PRIN
End Balance
2,572,781 40,829,424
2,727,148
38,102,276
2,890,777
35,211,500
3,064,223
32,147,276
3,248,077
28,899,200
3,442,961
25,456,239
3,649,539
21,806,700
3,868,511
17,938,188
4,100,622
13,837,567
4,346,659
9,490,907
4,607,459
4,883,448
4,883,906 458
43,402,663

90

Financial Statement in Year 1


Income Statement (Account period of our company will be started from August 2013 to July in 2014)
*Our company will pay cash dividend monthly 30%, except which month which has no profit and start to pay in November.
Year 1
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Total revenue

5,628,500
17,580
5,646,080

Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Pre-operating expense
Marketing Expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes 20%
Net Income

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
2,078,393
161,900
73,738
2,532,627
3,113,453 3,113,453 3,113,453 -

3,113,453 -

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

16,080
16,080

581,490
17,580
599,070

581,490
16,080
15,000
612,570

581,490
16,080
15,000
612,570

581,490
16,080
15,000
612,570

551,490
21,750
15,000
588,240

551,490
16,080
15,000
582,570

551,490
17,580
15,000
584,070

551,490
16,580
15,000
583,070

551,490
17,580
15,000
584,070

5,628,500
5,083,410
205,130
120,000
11,037,040

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
272,254 272,254 272,254 -

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
276,254
276,254
276,254

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
310,736
310,736
310,736

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
320,236
320,236
320,236

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978
73,738
314,716
297,854
297,854
297,854

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
320,236
320,236
320,236

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
299,906
299,906
299,906

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
290,236
290,236
290,236

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
295,736
295,736
295,736

66,000
66,000
640
640
71,005
71,005
48,626
48,626
1,165
1,165
4,800
4,800
4,000
3,000
3,000
7,000
7,000
12,360
12,360
218,596
214,596
73,738
73,738
292,334
288,334
290,736
295,736
2,604,132
290,736 - 2,308,396
536,445
290,736 - 2,844,841

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538
2,078,393
161,900
884,851
5,750,681
5,286,359
2,604,132
2,682,226
536,445
2,145,781

272,254 -

276,254

217,515

224,165

208,498

224,165

209,934

203,165

207,015

203,515 - 2,844,841

1,502,047

93,221

96,071

89,356

96,071

89,972

87,071

88,721

16,080
16,080

87,221

End of Period

643,734

91

Balance Sheet in Year 1

Mee Sub Market


Balance Sheet
August 1, 2013 - July 31, 2014
2013
Aug

2013
Sep

2013
Oct

2013
Nov

2013
Dec

2014
Jan

2014
Feb

2014
Mar

2014
Apr

2014
May

2014
Jun

2014
Jul

Year 1
Asset
Current Asset
Cash
Total current asset

13,265,584
13,265,584

13,067,067
13,067,067

12,864,551
12,864,551

13,155,804
13,155,804

13,453,707
13,453,707

13,735,942
13,735,942

14,033,845
14,033,845

14,317,517
14,317,517

14,594,420
14,594,420

14,875,173
14,875,173

15,152,425
15,152,425

9,808,541
9,808,541

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
66,224
429,952
7,513
41,250,074

25,000,000
15,893,860
132,449
429,952
15,026
41,176,337

25,000,000
15,893,860
198,673
429,952
22,539
41,102,599

25,000,000
15,893,860
264,898
429,952
30,053
41,028,862

25,000,000
15,893,860
331,122
429,952
37,566
40,955,124

25,000,000
15,893,860
397,347
429,952
45,079
40,881,387

25,000,000
15,893,860
463,571
429,952
52,592
40,807,649

25,000,000
15,893,860
529,795
429,952
60,105
40,733,912

25,000,000
15,893,860
596,020
429,952
67,618
40,660,174

25,000,000
15,893,860
662,244
429,952
75,131
40,586,437

25,000,000
15,893,860
728,469
429,952
82,644
40,512,699

25,000,000
15,893,860
794,693
429,952
90,158
40,438,961

Total asset

54,515,658

54,243,404

53,967,150

54,184,666

54,408,831

54,617,329

54,841,494

55,051,429

55,254,594

55,461,609

55,665,124

50,247,502

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,572,781
40,829,424
8,000,000
3,113,453
54,515,658

2,572,781
40,829,424
8,000,000
2,841,199
54,243,404

2,572,781
40,829,424
8,000,000
2,564,945
53,967,150

2,572,781
40,829,424
8,000,000
2,782,461
54,184,666

2,572,781
40,829,424
8,000,000
3,006,626
54,408,831

2,572,781
40,829,424
8,000,000
3,215,124
54,617,329

2,572,781
40,829,424
8,000,000
3,439,289
54,841,494

2,572,781
40,829,424
8,000,000
3,649,224
55,051,429

2,572,781
40,829,424
8,000,000
3,852,389
55,254,594

2,572,781
40,829,424
8,000,000
4,059,404
55,461,609

2,572,781
40,829,424
8,000,000
4,262,919
55,665,124

40,829,424
8,000,000
1,418,078
50,247,502

92

Statement of Cash Flow in Year 1

Mee Sub Market


Statement of Cash Flow
Aug 1, 2013-July 31, 2014

Year 1
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Purchase land
Investment for building
Purchase equipment
Net Cash Flow from investing
Cash Flow from Financing
Payment of debt
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2013
Aug
3,113,453 -

2013
Sep
272,254 -

2013
Oct
276,254

2013
Nov
310,736

2013
Dec
320,236

2014
Jan
297,854

2014
Feb
320,236

2014
Mar
299,906

2014
Apr
290,236

2014
May
295,736

2014
Jun
290,736 -

2014
Jul
2,844,841

73,738
3,187,191 -

73,738
198,516 -

73,738
202,516

73,738
384,474

73,738
393,974

73,738
371,592

73,738
393,974

73,738
373,644

73,738
363,974

73,738
369,474

73,738
364,474 -

73,738
2,771,104

- 25,000,000
- 15,893,860
429,952
- 41,323,812

- 38,136,621 198,516 202,516


51,402,205
13,265,584
13,067,067
13,265,584
13,067,067
12,864,551

93,221 93,221 -

96,071 96,071 -

89,356 89,356 -

96,071 96,071 -

89,972 89,972 -

87,071 87,071 -

88,721 88,721 -

87,221
87,221 -

291,253
12,864,551
13,155,804

297,903
13,155,804
13,453,707

282,236
13,453,707
13,735,942

297,903
13,735,942
14,033,845

283,672
14,033,845
14,317,517

276,903
14,317,517
14,594,420

280,753
14,594,420
14,875,173

2,572,781
2,572,781

277,253 - 5,343,885
14,875,173
15,152,425
15,152,425
9,808,541

93

Income Statement in Year 2


Year 2
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

2014

2014

2014

2014

2014

2015

2015

2015

2015

2015

2015

2015

2015

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

1,272,000
642,990
16,080
15,000
1,946,070

642,990
16,080
15,000
674,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

687,990
16,080
15,000
719,070

657,990
16,080
15,000
689,070

657,990
16,080
15,000
689,070

1,272,000
8,105,880
192,960
180,000
9,750,840

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
1,653,736
1,653,736
1,653,736

73,738
288,334
385,736
385,736
385,736

73,738
292,334
426,736
426,736
426,736

73,738
288,334
430,736
430,736
430,736

73,738
292,334
426,736
426,736
426,736

73,738
314,716
404,354
404,354
404,354

73,738
292,334
426,736
426,736
426,736

73,738
288,334
430,736
430,736
430,736

73,738
292,334
426,736
426,736
426,736

73,738
288,334
430,736
430,736
430,736

73,738
292,334
396,736
396,736 396,736 -

73,738
288,334
400,736
2,449,765
2,049,029
758,137
2,807,167

884,851
3,510,388
6,240,452
2,449,765
3,790,686
758,137
3,032,549

1,157,615
496,121

270,015
115,721

298,715
128,021

301,515
129,221

298,715
128,021

283,048
121,306

298,715
128,021

301,515
129,221

298,715
128,021

301,515
129,221

277,715 - 2,807,167
119,021

2,122,784
909,765

94

Balance Sheet in Year 2


Mee Sub Market
Balance Sheet
August 1, 2014 - July 31, 2015

Year 2
Asset
Current Asset
Cash
Total current asset

2014
Aug

2014
Sep

2014
Oct

2014
Nov

2014
Dec

2015
Jan

2015
Feb

2015
Mar

2015
Apr

2015
May

2015
Jun

2015
Jul

11,039,893
11,039,893

11,383,646
11,383,646

11,756,099
11,756,099

12,131,352
12,131,352

12,503,805
12,503,805

12,860,590
12,860,590

13,233,043
13,233,043

13,608,296
13,608,296

13,980,749
13,980,749

14,356,002
14,356,002

14,707,455
14,707,455

9,246,878
9,246,878

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
860,917
429,952
97,671
40,365,224

25,000,000
15,893,860
927,142
429,952
105,184
40,291,486

25,000,000
15,893,860
993,366
429,952
112,697
40,217,749

25,000,000
15,893,860
1,059,591
429,952
120,210
40,144,011

25,000,000
15,893,860
1,125,815
429,952
127,723
40,070,274

25,000,000
15,893,860
1,192,040
429,952
135,236
39,996,536

25,000,000
15,893,860
1,258,264
429,952
142,749
39,922,799

25,000,000
15,893,860
1,324,488
429,952
150,263
39,849,061

25,000,000
15,893,860
1,390,713
429,952
157,776
39,775,323

25,000,000
15,893,860
1,456,937
429,952
165,289
39,701,586

25,000,000
15,893,860
1,523,162
429,952
172,802
39,627,848

25,000,000
15,893,860
1,589,386
429,952
180,315
39,554,111

Total asset

51,405,117

51,675,133

51,973,848

52,275,363

52,574,078

52,857,126

53,155,842

53,457,357

53,756,072

54,057,588

54,335,303

48,800,989

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,727,148
38,102,276
8,000,000
2,575,693
51,405,117

2,727,148
38,102,276
8,000,000
2,845,709
51,675,133

2,727,148
38,102,276
8,000,000
3,144,424
51,973,848

2,727,148
38,102,276
8,000,000
3,445,939
52,275,363

2,727,148
38,102,276
8,000,000
3,744,654
52,574,078

2,727,148
38,102,276
8,000,000
4,027,702
52,857,126

2,727,148
38,102,276
8,000,000
4,326,418
53,155,842

2,727,148
38,102,276
8,000,000
4,627,933
53,457,357

2,727,148
38,102,276
8,000,000
4,926,648
53,756,072

2,727,148
38,102,276
8,000,000
5,228,164
54,057,588

2,727,148
38,102,276
8,000,000
5,505,879
54,335,303

38,102,276
8,000,000
2,698,712
48,800,989

95

Statement of Cash Flow in Year 2


Mee Sub Market
Statement of Cash Flow
Aug 1, 2014-July 31, 2015

Year 2
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Cash Flow from Financing
Decrease in loan payable
Cash dividend
Net Cash Flow from Financing Net change in Cash
Cash at beginning of period
Cash at end of period

2014
Aug
1,653,736

2014
Sep
385,736

2014
Oct
426,736

2014
Nov
430,736

2014
Dec
426,736

2015
Jan
404,354

2015
Feb
426,736

2015
Mar
430,736

2015
Apr
426,736

2015
May
430,736

2015
Jun
396,736 -

2015
Jul
2,807,167

73,738
1,727,474

73,738
459,474

73,738
500,474

73,738
504,474

73,738
500,474

73,738
478,092

73,738
500,474

73,738
504,474

73,738
500,474

73,738
504,474

73,738
470,474 -

73,738
2,733,429

496,121 496,121 1,231,353


9,808,541
11,039,893

115,721 115,721 343,753


11,039,893
11,383,646

128,021 128,021 372,453


11,383,646
11,756,099

129,221 129,221 375,253


11,756,099
12,131,352

128,021 128,021 372,453


12,131,352
12,503,805

121,306 121,306 356,786


12,503,805
12,860,590

128,021 128,021 372,453


12,860,590
13,233,043

129,221 129,221 375,253


13,233,043
13,608,296

128,021 128,021 372,453


13,608,296
13,980,749

129,221 129,221 375,253


13,980,749
14,356,002

119,021
119,021 -

2,727,148
2,727,148

351,453 - 5,460,577
14,356,002
14,707,455
14,707,455
9,246,878

96

Income Statement in Year 3


Year 3
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes 20%
Net Income

Retain Earning
Dividend 30%

2015

2015

2015

2015

2015

2016

2016

2016

2016

2016

2016

2016

2016

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

1,134,500
740,910
17,580
15,000
1,907,990

740,910
16,080
15,000
771,990

785,910
16,080
15,000
816,990

785,910
16,080
15,000
816,990

785,910
17,580
15,000
818,490

785,910
17,580
15,000
818,490

785,910
17,580
15,000
818,490

785,910
16,080
15,000
816,990

785,910
17,580
15,000
818,490

785,910
16,080
15,000
816,990

755,910
16,080
15,000
786,990

755,910
18,030
15,000
28,000
816,940

1,134,500
9,280,920
202,410
180,000
28,000
10,825,830

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
1,615,656
1,615,656
1,615,656
1,130,959
484,697

73,738
288,334
483,656
483,656
483,656
338,559
145,097

73,738
292,334
524,656
524,656
524,656
367,259
157,397

73,738
288,334
528,656
528,656
528,656
370,059
158,597

73,738
292,334
526,156
526,156
526,156
368,309
157,847

73,738
314,716
503,774
503,774
503,774
352,642
151,132

73,738
292,334
526,156
526,156
526,156
368,309
157,847

73,738
288,334
528,656
528,656
528,656
370,059
158,597

73,738
292,334
526,156
526,156
526,156
368,309
157,847

73,738
288,334
528,656
528,656
528,656
370,059
158,597

73,738
73,738
292,334
288,334
494,656
528,606
2,286,137
494,656 - 1,757,530
1,005,861
494,656 - 2,763,391
346,259 - 2,763,391
148,397

884,851
3,510,388
7,315,442
2,286,137
5,029,305
1,005,861
4,023,444
2,816,411
1,207,033

97

Balance Sheet in Year 3


Mee Sub Market
Balance Sheet
August 1, 2015 - July 31, 2016
2015
Aug

2015
Sep

2015
Oct

2015
Nov

2015
Dec

2016
Jan

2016
Feb

2016
Mar

2016
Apr

2016
May

2016
Jun

2016
Jul

10,451,575
10,451,575

10,863,871
10,863,871

11,304,868
11,304,868

11,748,665
11,748,665

12,190,712
12,190,712

12,617,091
12,617,091

13,059,138
13,059,138

13,502,935
13,502,935

13,944,982
13,944,982

14,388,779
14,388,779

14,808,776
14,808,776

9,228,345
9,228,345

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
1,655,611
429,952
187,828
39,480,373

25,000,000
15,893,860
1,721,835
429,952
195,341
39,406,636

25,000,000
15,893,860
1,788,059
429,952
202,855
39,332,898

25,000,000
15,893,860
1,854,284
429,952
210,368
39,259,161

25,000,000
15,893,860
1,920,508
429,952
217,881
39,185,423

25,000,000
15,893,860
1,986,733
429,952
225,394
39,111,686

25,000,000
15,893,860
2,052,957
429,952
232,907
39,037,948

25,000,000
15,893,860
2,119,181
429,952
240,420
38,964,210

25,000,000
15,893,860
2,185,406
429,952
247,933
38,890,473

25,000,000
15,893,860
2,251,630
429,952
255,446
38,816,735

25,000,000
15,893,860
2,317,855
429,952
262,960
38,742,998

25,000,000
15,893,860
2,384,079
429,952
270,473
38,669,260

Total asset

49,931,948

50,270,507

50,637,766

51,007,826

51,376,135

51,728,777

52,097,086

52,467,146

52,835,455

53,205,514

53,551,773

47,897,605

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,890,777
35,211,500
8,000,000
3,829,672
49,931,948

2,890,777
35,211,500
8,000,000
4,168,231
50,270,507

2,890,777
35,211,500
8,000,000
4,535,490
50,637,766

2,890,777
35,211,500
8,000,000
4,905,549
51,007,826

2,890,777
35,211,500
8,000,000
5,273,859
51,376,135

2,890,777
35,211,500
8,000,000
5,626,501
51,728,777

2,890,777
35,211,500
8,000,000
5,994,810
52,097,086

2,890,777
35,211,500
8,000,000
6,364,869
52,467,146

2,890,777
35,211,500
8,000,000
6,733,179
52,835,455

2,890,777
35,211,500
8,000,000
7,103,238
53,205,514

2,890,777
35,211,500
8,000,000
7,449,497
53,551,773

35,211,500
8,000,000
4,686,106
47,897,605

Year 3
Asset
Current Asset
Cash
Total current asset

98

Statement of Cash Flow in Year 3


Mee Sub Market
Statement of Cash Flow
Aug 1, 2015-July 31, 2016

Year 3
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Cash Flow from Financing
Decrease in loan payable
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2015
2015
2015
2015
2015
2016
2016
2016
2016
2016
2016
2016
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
1,615,656 483,656 524,656 528,656 526,156 503,774 526,156 528,656 526,156 528,656 494,656 - 2,763,391
73,738
1,689,394

484,697 484,697 1,204,697


9,246,878
10,451,575

73,738
557,394

145,097 145,097 412,297


10,451,575
10,863,871

73,738
598,394

157,397 157,397 440,997


10,863,871
11,304,868

73,738
602,394

158,597 158,597 443,797


11,304,868
11,748,665

73,738
599,894

157,847 157,847 442,047


11,748,665
12,190,712

73,738
577,512

151,132 151,132 426,380


12,190,712
12,617,091

73,738
599,894

157,847 157,847 442,047


12,617,091
13,059,138

73,738
602,394

158,597 158,597 443,797


13,059,138
13,502,935

73,738
599,894

157,847 157,847 442,047


13,502,935
13,944,982

73,738
602,394

158,597 158,597 443,797


13,944,982
14,388,779

73,738
73,738
568,394 - 2,689,654

- 2,890,777
148,397
148,397 - 2,890,777
419,997 - 5,580,431
14,388,779 14,808,776
14,808,776
9,228,345

99

Income Statement in Year 4


Year 4
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

2016

2016

2016

2016

2016

2017

2017

2017

2017

2017

2017

2017

2017

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

755,910
17,580
15,000
788,490

755,910
16,080
15,000
786,990

800,910
16,080
15,000
831,990

800,910
16,080
15,000
831,990

800,910
17,580
15,000
833,490

800,910
17,580
15,000
833,490

800,910
17,580
15,000
833,490

800,910
16,080
15,000
831,990

800,910
17,580
15,000
833,490

800,910
16,080
15,000
831,990

770,910
16,080
15,000
801,990

770,910
18,030
15,000
30,000
833,940

9,460,920
202,410
180,000
30,000
9,873,330

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
496,156
496,156
496,156
347,309
148,847

73,738
288,334
498,656
498,656
498,656
349,059
149,597

73,738
292,334
539,656
539,656
539,656
377,759
161,897

73,738
288,334
543,656
543,656
543,656
380,559
163,097

73,738
292,334
541,156
541,156
541,156
378,809
162,347

73,738
314,716
518,774
518,774
518,774
363,142
155,632

73,738
292,334
541,156
541,156
541,156
378,809
162,347

73,738
288,334
543,656
543,656
543,656
380,559
163,097

73,738
292,334
541,156
541,156
541,156
378,809
162,347

73,738
288,334
543,656
543,656
543,656
380,559
163,097

73,738
73,738
292,334
288,334
509,656
545,606
2,112,690
509,656 - 1,567,084
850,050
509,656 - 2,417,134
356,759 - 2,417,134
152,897

884,851
3,510,388
6,362,942
2,112,690
4,250,252
850,050
3,400,201
2,380,141
1,020,060

100

Balance Sheet in Year 4


Mee Sub Market
Balance Sheet
August 1, 2016 - July 31, 2017

Year 4
Asset
Current Asset
Cash
Total current asset

2016
Aug

2016
Sep

2016
Oct

2016
Nov

2016
Dec

2017
Jan

2017
Feb

2017
Mar

2017
Apr

2017
May

2017
Jun

2017
Jul

9,649,392 10,072,189 10,523,686 10,977,983 11,430,529 11,867,409 12,319,956 12,774,253 13,226,799 13,681,096 14,111,593 8,703,973
9,649,392
10,072,189
10,523,686
10,977,983
11,430,529
11,867,409
12,319,956
12,774,253
13,226,799
13,681,096
14,111,593
8,703,973

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
2,450,304
429,952
277,986
38,595,523

25,000,000
15,893,860
2,516,528
429,952
285,499
38,521,785

25,000,000
15,893,860
2,582,752
429,952
293,012
38,448,048

25,000,000
15,893,860
2,648,977
429,952
300,525
38,374,310

25,000,000
15,893,860
2,715,201
429,952
308,038
38,300,572

25,000,000
15,893,860
2,781,426
429,952
315,551
38,226,835

25,000,000
15,893,860
2,847,650
429,952
323,065
38,153,097

25,000,000
15,893,860
2,913,874
429,952
330,578
38,079,360

25,000,000
15,893,860
2,980,099
429,952
338,091
38,005,622

25,000,000
15,893,860
3,046,323
429,952
345,604
37,931,885

25,000,000
15,893,860
3,112,548
429,952
353,117
37,858,147

25,000,000
15,893,860
3,178,772
429,952
360,630
37,784,410

Total asset

48,244,915

48,593,974

48,971,733

49,352,293

49,731,102

50,094,244

50,473,053

50,853,612

51,232,422

51,612,981

51,969,740

46,488,383

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

3,064,223
32,147,276
8,000,000
5,033,415
48,244,915

3,064,223
32,147,276
8,000,000
5,382,474
48,593,974

3,064,223
32,147,276
8,000,000
5,760,234
48,971,733

3,064,223
32,147,276
8,000,000
6,140,793
49,352,293

3,064,223
32,147,276
8,000,000
6,519,602
49,731,102

3,064,223
32,147,276
8,000,000
6,882,744
50,094,244

3,064,223
32,147,276
8,000,000
7,261,553
50,473,053

3,064,223
32,147,276
8,000,000
7,642,113
50,853,612

3,064,223
32,147,276
8,000,000
8,020,922
51,232,422

3,064,223
32,147,276
8,000,000
8,401,481
51,612,981

3,064,223
32,147,276
8,000,000
8,758,241
51,969,740

32,147,276
8,000,000
6,341,106
46,488,383

101

Statement of Cash Flow in Year 4


Mee Sub Market
Statement of Cash Flow
Aug 1, 2016-July 31, 2017

Year4
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Cash Flow from Financing
Decrease in loan payable
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2016
2016
2016
2016
2016
2017
2017
2017
2017
2017
2017
2017
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
496,156 498,656 539,656 543,656 541,156 518,774 541,156 543,656 541,156 543,656 509,656 - 2,417,134
73,738
569,894

148,847 148,847 421,047


9,228,345
9,649,392

73,738
572,394

149,597 149,597 422,797


9,649,392
10,072,189

73,738
613,394

161,897 161,897 451,497


10,072,189
10,523,686

73,738
617,394

163,097 163,097 454,297


10,523,686
10,977,983

73,738
614,894

162,347 162,347 452,547


10,977,983
11,430,529

73,738
592,512

155,632 155,632 436,880


11,430,529
11,867,409

73,738
614,894

162,347 162,347 452,547


11,867,409
12,319,956

73,738
617,394

163,097 163,097 454,297


12,319,956
12,774,253

73,738
614,894

162,347 162,347 452,547


12,774,253
13,226,799

73,738
617,394

163,097 163,097 454,297


13,226,799
13,681,096

73,738
73,738
583,394 - 2,343,397

- 3,064,223
152,897
152,897 - 3,064,223
430,497 - 5,407,620
13,681,096 14,111,593
14,111,593
8,703,973

102

Income Statement in Year 5


Year 5
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes 20%
Net Income

Retain Earning
Dividend 30%

2017

2017

2017

2017

2017

2018

2018

2018

2018

2018

2018

2018

2018

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

770,910
17,580
15,000
803,490

779,200
16,080
15,000
810,280

824,200
16,080
15,000
855,280

824,200
16,080
15,000
855,280

824,200
17,580
15,000
856,780

824,200
17,580
15,000
856,780

824,200
17,580
15,000
856,780

824,200
16,080
15,000
855,280

824,200
17,580
15,000
856,780

824,200
16,080
15,000
855,280

794,200
16,080
15,000
825,280

794,200
18,030
15,000
30,000
857,230

9,732,110
202,410
180,000
30,000
10,144,520

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
511,156
511,156
511,156
357,809
153,347

73,738
288,334
521,946
521,946
521,946
365,362
156,584

73,738
292,334
562,946
562,946
562,946
394,062
168,884

73,738
288,334
566,946
566,946
566,946
396,862
170,084

73,738
292,334
564,446
564,446
564,446
395,112
169,334

73,738
314,716
542,064
542,064
542,064
379,445
162,619

73,738
292,334
564,446
564,446
564,446
395,112
169,334

73,738
288,334
566,946
566,946
566,946
396,862
170,084

73,738
292,334
564,446
564,446
564,446
395,112
169,334

73,738
288,334
566,946
566,946
566,946
396,862
170,084

73,738
73,738
292,334
288,334
532,946
568,896
1,928,837
532,946 - 1,359,940
941,059
532,946 - 2,300,999
373,062 - 2,300,999
159,884

884,851
3,510,388
6,634,132
1,928,837
4,705,295
941,059
3,764,236
2,634,965
1,129,271

103

Balance Sheet in Year 5


Mee Sub Market
Balance Sheet
August 1, 2017 - July 31, 2018

Year 5
Asset
Current Asset
Cash
Total current asset

2017
Aug

2017
Sep

2017
Oct

2017
Nov

2017
Dec

2018
Jan

2018
Feb

2018
Mar

2018
Apr

2018
May

2018
Jun

2018
Jul

9,135,520 9,574,620 10,042,420 10,513,020 10,981,869 11,435,052 11,903,902 12,374,502 12,843,351 13,313,951 13,760,751 8,285,413
9,135,520
9,574,620
10,042,420
10,513,020
10,981,869
11,435,052
11,903,902
12,374,502
12,843,351
13,313,951
13,760,751
8,285,413

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
3,244,997
429,952
368,143
37,710,672

25,000,000
15,893,860
3,311,221
429,952
375,657
37,636,935

25,000,000
15,893,860
3,377,445
429,952
383,170
37,563,197

25,000,000
15,893,860
3,443,670
429,952
390,683
37,489,459

25,000,000
15,893,860
3,509,894
429,952
398,196
37,415,722

25,000,000
15,893,860
3,576,119
429,952
405,709
37,341,984

25,000,000
15,893,860
3,642,343
429,952
413,222
37,268,247

25,000,000
15,893,860
3,708,568
429,952
420,735
37,194,509

25,000,000
15,893,860
3,774,792
429,952
428,248
37,120,772

25,000,000
15,893,860
3,841,016
429,952
435,762
37,047,034

25,000,000
15,893,860
3,907,241
429,952
443,275
36,973,297

25,000,000
15,893,860
3,973,465
429,952
450,788
36,899,559

Total asset

46,846,192

47,211,554

47,605,617

48,002,479

48,397,591

48,777,036

49,172,149

49,569,011

49,964,123

50,360,985

50,734,048

45,184,972

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

3,248,077
28,899,200
8,000,000
6,698,916
46,846,192

3,248,077
28,899,200
8,000,000
7,064,278
47,211,554

3,248,077
28,899,200
8,000,000
7,458,340
47,605,617

3,248,077
28,899,200
8,000,000
7,855,203
48,002,479

3,248,077
28,899,200
8,000,000
8,250,315
48,397,591

3,248,077
28,899,200
8,000,000
8,629,760
48,777,036

3,248,077
28,899,200
8,000,000
9,024,872
49,172,149

3,248,077
28,899,200
8,000,000
9,421,734
49,569,011

3,248,077
28,899,200
8,000,000
9,816,847
49,964,123

3,248,077
28,899,200
8,000,000
10,213,709
50,360,985

3,248,077
28,899,200
8,000,000
10,586,771
50,734,048

28,899,200
8,000,000
8,285,772
45,184,972

104

Statement of Cash Flow in Year 5


Mee Sub Market
Statement of Cash Flow
Aug 1, 2017-July 31, 2018

Year5
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating

2017
2017
2017
2017
2017
2018
2018
2018
2018
2018
2018
2018
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
511,156 521,946 562,946 566,946 564,446 542,064 564,446 566,946 564,446 566,946 532,946 - 2,300,999

Cash Flow from Investing


Cash Flow from Financing
Decrease in loan payable
Cash dividend
Net Cash Flow from Financing Net change in Cash
Cash at beginning of period
Cash at end of period

73,738
584,894

153,347 153,347 431,547


8,703,973
9,135,520

73,738
595,684

156,584 156,584 439,100


9,135,520
9,574,620

73,738
636,684

168,884 168,884 467,800


9,574,620
10,042,420

73,738
640,684

170,084 170,084 470,600


10,042,420
10,513,020

73,738
638,184

169,334 169,334 468,850


10,513,020
10,981,869

73,738
615,802

162,619 162,619 453,183


10,981,869
11,435,052

73,738
638,184

169,334 169,334 468,850


11,435,052
11,903,902

73,738
640,684

170,084 170,084 470,600


11,903,902
12,374,502

73,738
638,184

169,334 169,334 468,850


12,374,502
12,843,351

73,738
640,684

170,084 170,084 470,600


12,843,351
13,313,951

73,738
606,684 -

73,738
2,227,262

- 3,248,077
159,884
159,884 - 3,248,077
446,800 - 5,475,339
13,313,951 13,760,751
13,760,751
8,285,413

105

Financial Analysis in 5 years


Mee Sub Market
Balance sheet in five years
Year 1

Year 2

Year 3

Year 4

Year 5

9,808,541

9,246,878

9,228,345

8,703,973

8,285,413

9,808,541

9,246,878

9,228,345

8,703,973

8,285,413

25,000,000

25,000,000

25,000,000

25,000,000

25,000,000

15,893,860
794,693
429,952

15,893,860
1,589,386
429,952

15,893,860
2,384,079
429,952

15,893,860
3,178,772
429,952

15,893,860
3,973,465
429,952

90,158
40,438,961

180,315
39,554,111

270,473
38,669,260

360,630
37,784,410

450,788
36,899,559

Total asset

50,247,502

48,800,989

47,897,605

46,488,383

45,184,972

Liabilities and Equity


Short-term liabilities
Long-term liabilities

40,829,424

38,102,276

35,211,500

32,147,276

28,899,200

Owner's capital
Retained earning

8,000,000
1,418,078

8,000,000
2,698,712

8,000,000
4,686,106

8,000,000
6,341,106

8,000,000
8,285,772

50,247,502

48,800,989

47,897,605

46,488,383

45,184,972

Asset
Current Asset
Cash
Total current asset
Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

Total Liabilities and Equity

106

Mee Sub Market


Income Statement in five years
Year 1
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue

Year 3

Year 4

Year 5

5,628,500
5,083,410
205,130
120,000
11,037,040

1,272,000
8,105,880
192,960
180,000
9,750,840

1,134,500
9,280,920
202,410
180,000
28,000
10,825,830

9,460,920
202,410
180,000
30,000
9,873,330

9,732,110
202,410
180,000
30,000
10,144,520

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538
2,078,393
161,900
884,851
5,750,681
5,286,359
2,604,132
2,682,226
536,445
2,145,781
1,502,047
643,734

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538
884,851
3,510,388
6,240,452
2,449,765
3,790,686
758,137
3,032,549
2,122,784
909,765

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538
884,851
3,510,388
7,315,442
2,286,137
5,029,305
1,005,861
4,023,444
2,816,411
1,207,033

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

884,851
3,510,388
6,362,942
2,112,690
4,250,252
850,050
3,400,201
2,380,141
1,020,060

884,851
3,510,388
6,634,132
1,928,837
4,705,295
941,059
3,764,236
2,634,965
1,129,271

Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Pre operating expense
Marketing Expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Year 1
Profit Magin
ROA
ROE
Payout ratio
Debt to total asset ratio

Year 2

19.44%
4.27%
22.78%
30.00%
81.26%

Year 2
31.10%
6.21%
28.34%
30.00%
78.08%

Year 3
37.17%
8.40%
31.72%
30.00%
73.51%

Year 4
34.44%
7.31%
23.71%
30.00%
69.15%

Year 5
37.11%
8.33%
23.11%
30.00%
63.96%

107

1.

Liquidity Ratio
Our business has a short-term debt as principal of bank loaned that we has to pay at the

end of period, so in balance sheet at the end of period does not show short-term debt. In case of
meeting unexpected need for cash, investor or creditor can make sure that we have ability to
pay that because we have reserve cash in hand.
2. Profitability Ratio
From calculating Profit margin found that our company has ability to generate profit in
Year 2 more than profit margin in Year 1 because we spent a lot of money to pay for
investment and expenses in year 1. Since year 2, we can generate profit margin around 30
percent up and will be profit constantly. We will have more profit after we pay of total debt
that we loan from bank in year 12.
For Return on assets (ROA), we have ability to generate profit from asset more and
more from year 1 to year 3, but it decrease in year 4 and then increase in year 5. Although the
ratio is not large number, these assets can provide profit in long term.
Return on equity (ROE), from the ratio of return on equity show that our company can
generate profit from out of equity since year1 to year 3 more and more. After year 3, the profit
will be stable ratio around 23%. That mean we have a lot of equity that not make profit.
For Payout Ratio, our company has the policy to pay cash dividend monthly in constant
rate as 30% by starting from November of Year 1.
3.

Solvency Ratio
Debt to total assets ratio, from the table presented that our company has high debt

because it just beginning of new business and we loan money from a bank to invest in Mee Sub
market. Due to pay debt annually, percentage of debt to total assets will low continuously. Our
company believes that we can pay total debt within 12 years and after that we will have more
assets that can provide more profit in the future.

Chapter 7
Risk Analysis

109

Risk Management
Risk is the probability or chance of mistake, damage, and thread of unexpected
circumstance to be occurring in the future. It can lead to unsuccessful operation that is not
achieving the objectives of the business. Risk can be both positive and negative effects to
business, and can be classified into 2 factors which are; External and Internal Factors. Mee Sub
Market identifies the risk as following;
External Risk is risk that occurs out of the company control.
1. Economic
Economy and external risk have significant impact on business. In the other word,
when the country faces economic problem, it affects to expenditure of the population. Many
business and many company may be shut down or bankrupt. It also has an effect on Small
business and new company who start to run their business.
Mee Sub Market is a new opening market. If the economic condition of the country,
especially in Chiang Rai, is not stable or facing problems, it would be a risk affects to the fresh
market. To adapt and protect itself from the changing in economic, the market have to aware of
changing all the time by gather all information about economic issue including with political
issue to get itself prepared and get ready to adapt in the circumstance.
2. Environment
The risk from natural disasters and environment may occur such as earthquake,
flooding and collapse of electricity system. These events can happen all the time so, Mee Sub
Market has a policy to buy the insurance in order to deal with these problems.
3. Competitor
The risk that may occur is competition of strategy of the rivals or competitors that
aimed to attract customers including the stall renting which cost cheaper than our market. This
would be the risk of losing sellers attention to competitors.

Internal Risk is risk that occurs from business operation mistake.


1. Financial Risk
The Financial risk of Mee Sub market is the over cost with the limited budget. The risk
also includes the increasing number of expenditure. If Mee Sub market suffers with this
problem in financial risk, it will affects to the increasing time to get a return and pay back to
the investor.

110

This case Mee Sub market will reduce the result of financial risk by doing a financial
plan and forecasting the financial situation for the future.
2. Strategic Risk
The strategic which is not according to the visions of the market and not go along with
the current situation can cause the market unable to compete with competitors. Therefore, this
becomes the risk that affects to the market to lose its income and be adverse to the competitors.
The way to manage this risk is Mee Sub Market has to change the strategic plan to be
more attractive than the competitors. Moreover, the market has to provide the meeting to
discuss with the members of the market to provide them some information of the market policy
together with emphasis on the real visions of the market.
3. Operating Risk
Operation risk is the safety risk which may occur from the accident, conflagration, and
other harm from selling products in the market.
To deal with this risk, the market has to buy casualty insurance in order to take
responsibility on those damages. Besides, the market would set the defensive measure for
example; to avoid conflagration, do not put the flammable stuff in the same area, and arrange
electrical system follow the standard.
4.

Compliance Risk

The risk occurs from the failure in the stall renting agreement. It can be the risk of the
resistance because of the dissatisfaction in the policy. Mee Sub market will reduce this risk by
creating a meeting in every month. In order to talk, give information and share the way to solve
the problem with members in the market.
5. Credit risk
The credit risk is the risk that may occur from the late renting payment of the stall. And
it may be the payment on credit of any sellers. This problem may cause the dislocation of the
market revenue.
So, the market has been set the policy to support this risk by specify the limit of lenient
time. Sellers must make a payment within two month after the payment on credit without
interest. This policy will be shown in the contract of lease under Thai law. Moreover, the
market also spares the reserved fund in order to revolving for the risk which may occur.

111

If we meet credit risk for 5 percent, it will affect to decrease our revenue and profit as show in Income statement, Balance sheet and cash flow.
Year 1
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Pre-operating expense
Marketing Expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

End of Period

5,628,500
17,580
5,646,080

16,080
16,080

16,080
16,080

552,416
17,580
569,996

552,416
16,080
15,000
583,496

552,416
16,080
15,000
583,496

552,416
16,080
15,000
583,496

523,916
21,750
15,000
560,666

523,916
16,080
15,000
554,996

523,916
17,580
15,000
556,496

523,916
16,580
15,000
555,496

523,916
17,580
15,000
556,496

5,628,500
4,829,240
205,130
120,000
10,782,870

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
2,078,393
161,900
73,738
2,532,627
3,113,453
3,113,453
3,113,453
3,113,453

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
272,254
272,254
272,254
272,254

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
276,254
276,254
276,254
276,254

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
281,662
281,662
281,662
197,163
84,498

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
291,162
291,162
291,162
203,813
87,348

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978
73,738
314,716
268,780
268,780
268,780
188,146
80,634

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
291,162
291,162
291,162
203,813
87,348

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
272,332
272,332
272,332
190,632
81,699

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
262,662
262,662
262,662
183,863
78,798

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
268,162
268,162
268,162
187,713
80,448

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
263,162
263,162
263,162
184,213
78,948

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
268,162
2,604,132
2,335,971
388,922
2,724,893
2,724,893

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538
2,078,393
161,900
884,851
5,750,681
5,032,188
2,604,132
2,428,056
485,611
1,942,445
1,359,711
582,733

112

Balance sheet in case of credit risk for 5 percent in year 1


Mee Sub Market
Balance Sheet
August 1, 2013 - July 31, 2014
2013
Aug

2013
Sep

2013
Oct

2013
Nov

2013
Dec

2014
Jan

2014
Feb

2014
Mar

2014
Apr

2014
May

2014
Jun

2014
Jul

Year 1
Asset
Current Asset
Cash
Total current asset

13,265,584
13,265,584

13,067,067
13,067,067

12,864,551
12,864,551

13,135,452
13,135,452

13,413,002
13,413,002

13,674,886
13,674,886

13,952,436
13,952,436

14,216,806
14,216,806

14,474,407
14,474,407

14,735,858
14,735,858

14,993,808
14,993,808

9,769,872
9,769,872

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
66,224
429,952
7,513
41,250,074

25,000,000
15,893,860
132,449
429,952
15,026
41,176,337

25,000,000
15,893,860
198,673
429,952
22,539
41,102,599

25,000,000
15,893,860
264,898
429,952
30,053
41,028,862

25,000,000
15,893,860
331,122
429,952
37,566
40,955,124

25,000,000
15,893,860
397,347
429,952
45,079
40,881,387

25,000,000
15,893,860
463,571
429,952
52,592
40,807,649

25,000,000
15,893,860
529,795
429,952
60,105
40,733,912

25,000,000
15,893,860
596,020
429,952
67,618
40,660,174

25,000,000
15,893,860
662,244
429,952
75,131
40,586,437

25,000,000
15,893,860
728,469
429,952
82,644
40,512,699

25,000,000
15,893,860
794,693
429,952
90,158
40,438,961

Total asset

54,515,658

54,243,404

53,967,150

54,164,314

54,368,127

54,556,273

54,760,086

54,950,718

55,134,581

55,322,294

55,506,507

50,208,834

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,572,781
40,829,424
8,000,000
3,113,453
54,515,658

2,572,781
40,829,424
8,000,000
2,841,199
54,243,404

2,572,781
40,829,424
8,000,000
2,564,945
53,967,150

2,572,781
40,829,424
8,000,000
2,762,109
54,164,314

2,572,781
40,829,424
8,000,000
2,965,922
54,368,127

2,572,781
40,829,424
8,000,000
3,154,067
54,556,273

2,572,781
40,829,424
8,000,000
3,357,881
54,760,086

2,572,781
40,829,424
8,000,000
3,548,513
54,950,718

2,572,781
40,829,424
8,000,000
3,732,376
55,134,581

2,572,781
40,829,424
8,000,000
3,920,089
55,322,294

2,572,781 40,829,424
40,829,424
8,000,000
8,000,000
4,104,302
1,379,410
55,506,507
50,208,834

113

Statement of cash flow in case of credit risk for 5 percent in year 1


Mee Sub Market
Statement of Cash Flow
Aug 1, 2013-July 31, 2014

Year 1
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Purchase land
Investment for building
Purchase equipment
Net Cash Flow from investing
Cash Flow from Financing
Payment of debt
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2013
Aug
3,113,453 -

2013
Sep
272,254 -

2013
Oct
276,254

2013
Nov
281,662

2013
Dec
291,162

2014
Jan
268,780

2014
Feb
291,162

2014
Mar
272,332

2014
Apr
262,662

2014
May
268,162

2014
Jun
263,162 -

2014
Jul
2,724,893

73,738
3,187,191 -

73,738
198,516 -

73,738
202,516

73,738
355,399

73,738
364,899

73,738
342,517

73,738
364,899

73,738
346,069

73,738
336,399

73,738
341,899

73,738
336,899 -

73,738
2,651,155

- 25,000,000
- 15,893,860
429,952
- 41,323,812

- 38,136,621 198,516 202,516


51,402,205
13,265,584
13,067,067
13,265,584
13,067,067
12,864,551

84,498 84,498 -

87,348 87,348 -

80,634 80,634 -

87,348 87,348 -

81,699 81,699 -

78,798 78,798 -

80,448 80,448 -

78,948
78,948 -

270,901
12,864,551
13,135,452

277,551
13,135,452
13,413,002

261,883
13,413,002
13,674,886

277,551
13,674,886
13,952,436

264,370
13,952,436
14,216,806

257,601
14,216,806
14,474,407

261,451
14,474,407
14,735,858

2,572,781
2,572,781

257,951 - 5,223,936
14,735,858
14,993,808
14,993,808
9,769,872

114

Income statement in case of credit risk for 5 percent in year 2


Year 2
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

1,272,000
610,841
16,080
15,000
1,913,921

610,841
16,080
15,000
641,921

653,591
16,080
15,000
684,671

653,591
16,080
15,000
684,671

653,591
16,080
15,000
684,671

653,591
16,080
15,000
684,671

653,591
16,080
15,000
684,671

653,591
16,080
15,000
684,671

653,591
16,080
15,000
684,671

653,591
16,080
15,000
684,671

625,091
16,080
15,000
656,171

625,091
16,080
15,000
656,171

1,272,000
7,700,586
192,960
180,000
9,345,546

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
1,621,587
1,621,587
1,621,587
1,135,111
486,476

73,738
288,334
353,587
353,587
353,587
247,511
106,076

73,738
292,334
392,337
392,337
392,337
274,636
117,701

73,738
288,334
396,337
396,337
396,337
277,436
118,901

73,738
292,334
392,337
392,337
392,337
274,636
117,701

73,738
314,716
369,955
369,955
369,955
258,968
110,986

73,738
292,334
392,337
392,337
392,337
274,636
117,701

73,738
288,334
396,337
396,337
396,337
277,436
118,901

73,738
292,334
392,337
392,337
392,337
274,636
117,701

73,738
288,334
396,337
396,337
396,337
277,436
118,901

73,738
292,334
363,837
363,837
363,837
254,686
109,151

73,738
288,334
367,837
2,449,765
2,081,929
677,078
1,404,850
1,404,850

884,851
3,510,388
5,835,158
2,449,765
3,385,392
677,078
2,708,314
1,895,820
812,494

115

Balance sheet in case of credit risk for 5 percent in year 2


Mee Sub Market
Balance Sheet
August 1, 2014 - July 31, 2015
2014
Aug

2014
Sep

2014
Oct

2014
Nov

2014
Dec

2015
Jan

2015
Feb

2015
Mar

2015
Apr

2015
May

2015
Jun

2015
Jul

Year 2
Asset
Current Asset
Cash
Total current asset

10,978,720
10,978,720

11,299,969
11,299,969

11,648,342
11,648,342

11,999,515
11,999,515

12,347,888
12,347,888

12,680,594
12,680,594

13,028,967
13,028,967

13,380,140
13,380,140

13,728,514
13,728,514

14,079,687
14,079,687

14,408,110
14,408,110

10,349,849
10,349,849

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
860,917
429,952
97,671
40,365,224

25,000,000
15,893,860
927,142
429,952
105,184
40,291,486

25,000,000
15,893,860
993,366
429,952
112,697
40,217,749

25,000,000
15,893,860
1,059,591
429,952
120,210
40,144,011

25,000,000
15,893,860
1,125,815
429,952
127,723
40,070,274

25,000,000
15,893,860
1,192,040
429,952
135,236
39,996,536

25,000,000
15,893,860
1,258,264
429,952
142,749
39,922,799

25,000,000
15,893,860
1,324,488
429,952
150,263
39,849,061

25,000,000
15,893,860
1,390,713
429,952
157,776
39,775,323

25,000,000
15,893,860
1,456,937
429,952
165,289
39,701,586

25,000,000
15,893,860
1,523,162
429,952
172,802
39,627,848

25,000,000
15,893,860
1,589,386
429,952
180,315
39,554,111

Total asset

51,343,944

51,591,455

51,866,091

52,143,526

52,418,162

52,677,130

52,951,766

53,229,201

53,503,837

53,781,273

54,035,958

49,903,960

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,727,148
38,102,276
8,000,000
2,514,520
51,343,944

2,727,148
38,102,276
8,000,000
2,762,031
51,591,455

2,727,148
38,102,276
8,000,000
3,036,666
51,866,091

2,727,148
38,102,276
8,000,000
3,314,102
52,143,526

2,727,148
38,102,276
8,000,000
3,588,738
52,418,162

2,727,148
38,102,276
8,000,000
3,847,706
52,677,130

2,727,148
38,102,276
8,000,000
4,122,342
52,951,766

2,727,148
38,102,276
8,000,000
4,399,777
53,229,201

2,727,148
38,102,276
8,000,000
4,674,413
53,503,837

2,727,148
38,102,276
8,000,000
4,951,849
53,781,273

2,727,148
38,102,276
8,000,000
5,206,534
54,035,958

38,102,276
8,000,000
3,801,684
49,903,960

116

Statement of cash flow in case of credit risk for 5 percent in year 2


Mee Sub Market
Statement of Cash Flow
Aug 1, 2014-July 31, 2015

Year 2
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing

Cash Flow from Financing


Decrease in loan payable
Cash dividend
Net Cash Flow from Financing

Net change in Cash


Cash at beginning of period
Cash at end of period

2,014.00
Aug
1,621,587

2,014.00
Sep
353,587

2,014.00
Oct
392,337

2,014.00
Nov
396,337

2,014.00
Dec
392,337

2,015.00
Jan
369,955

2,015.00
Feb
392,337

2,015.00
Mar
396,337

2,015.00
Apr
392,337

2,015.00
May
396,337

2,015.00
Jun
363,837 -

2,015.00
Jul
1,404,850

73,738
1,695,324

73,738
427,324

73,738
466,074

73,738
470,074

73,738
466,074

73,738
443,692

73,738
466,074

73,738
470,074

73,738
466,074

73,738
470,074

73,738
437,574 -

73,738
1,331,113

486,476 486,476 1,208,848


9,769,872
10,978,720

106,076 106,076 -

117,701 117,701 -

118,901 118,901 -

117,701 117,701 -

110,986 110,986 -

117,701 117,701 -

118,901 118,901 -

117,701 117,701 -

118,901 118,901 -

109,151
109,151 -

321,248
10,978,720
11,299,969

348,373
11,299,969
11,648,342

351,173
11,648,342
11,999,515

348,373
11,999,515
12,347,888

332,706
12,347,888
12,680,594

348,373
12,680,594
13,028,967

351,173
13,028,967
13,380,140

348,373
13,380,140
13,728,514

351,173
13,728,514
14,079,687

2,727,148
2,727,148

328,423 - 4,058,261
14,079,687
14,408,110
14,408,110
10,349,849

117

Income statement in case of credit risk for 5 percent in year 3


Year 3
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

End of Period

1,134,500
703,865
17,580
15,000
1,870,945

703,865
16,080
15,000
734,945

746,615
16,080
15,000
777,695

746,615
16,080
15,000
777,695

746,615
17,580
15,000
779,195

746,615
17,580
15,000
779,195

746,615
17,580
15,000
779,195

746,615
16,080
15,000
777,695

746,615
17,580
15,000
779,195

746,615
16,080
15,000
777,695

718,115
16,080
15,000
749,195

718,115
18,030
15,000
28,000
779,145

1,134,500
8,816,874
202,410
180,000
28,000
10,361,784

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
1,578,611
1,578,611
1,578,611
1,105,027
473,583

73,738
288,334
446,611
446,611
446,611
312,627
133,983

73,738
292,334
485,361
485,361
485,361
339,752
145,608

73,738
288,334
489,361
489,361
489,361
342,552
146,808

73,738
292,334
486,861
486,861
486,861
340,802
146,058

73,738
314,716
464,479
464,479
464,479
325,135
139,344

73,738
292,334
486,861
486,861
486,861
340,802
146,058

73,738
288,334
489,361
489,361
489,361
342,552
146,808

73,738
292,334
486,861
486,861
486,861
340,802
146,058

73,738
288,334
489,361
489,361
489,361
342,552
146,808

73,738
292,334
456,861
456,861
456,861
319,802
137,058

73,738
288,334
490,811
2,286,137
1,795,326
746,233
2,541,559
2,541,559

884,851
3,510,388
6,851,396
2,286,137
4,565,259
913,052
3,652,207
2,556,545
1,095,662

118

Balance sheet in case of credit risk for 5 percent in year 3


Mee Sub Market
Balance Sheet
August 1, 2015 - July 31, 2016

Year 3
Asset
Current Asset
Cash
Total current asset

2015
Aug

2015
Sep

2015
Oct

2015
Nov

2015
Dec

2016
Jan

2016
Feb

2016
Mar

2016
Apr

2016
May

2016
Jun

2016
Jul

11,528,614
11,528,614

11,914,979
11,914,979

12,328,469
12,328,469

12,744,759
12,744,759

13,159,299
13,159,299

13,558,172
13,558,172

13,972,712
13,972,712

14,389,002
14,389,002

14,803,542
14,803,542

15,219,832
15,219,832

15,613,372
15,613,372

10,254,774
10,254,774

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
1,655,611
429,952
187,828
39,480,373

25,000,000
15,893,860
1,721,835
429,952
195,341
39,406,636

25,000,000
15,893,860
1,788,059
429,952
202,855
39,332,898

25,000,000
15,893,860
1,854,284
429,952
210,368
39,259,161

25,000,000
15,893,860
1,920,508
429,952
217,881
39,185,423

25,000,000
15,893,860
1,986,733
429,952
225,394
39,111,686

25,000,000
15,893,860
2,052,957
429,952
232,907
39,037,948

25,000,000
15,893,860
2,119,181
429,952
240,420
38,964,210

25,000,000
15,893,860
2,185,406
429,952
247,933
38,890,473

25,000,000
15,893,860
2,251,630
429,952
255,446
38,816,735

25,000,000
15,893,860
2,317,855
429,952
262,960
38,742,998

25,000,000
15,893,860
2,384,079
429,952
270,473
38,669,260

Total asset

51,008,988

51,321,615

51,661,368

52,003,920

52,344,722

52,669,858

53,010,660

53,353,212

53,694,015

54,036,567

54,356,370

48,924,034

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,890,777
35,211,500
8,000,000
4,906,711
51,008,988

2,890,777
35,211,500
8,000,000
5,219,339
51,321,615

2,890,777
35,211,500
8,000,000
5,559,091
51,661,368

2,890,777
35,211,500
8,000,000
5,901,644
52,003,920

2,890,777
35,211,500
8,000,000
6,242,446
52,344,722

2,890,777
35,211,500
8,000,000
6,567,581
52,669,858

2,890,777
35,211,500
8,000,000
6,908,384
53,010,660

2,890,777
35,211,500
8,000,000
7,250,936
53,353,212

2,890,777
35,211,500
8,000,000
7,591,739
53,694,015

2,890,777
35,211,500
8,000,000
7,934,291
54,036,567

2,890,777 35,211,500 35,211,500


8,000,000
8,000,000
8,254,093
5,712,534
54,356,370 48,924,034

119

Statement of cash flow in case of credit risk for 5 percent in year 3


Mee Sub Market
Statement of Cash Flow
Aug 1, 2015-July 31, 2016

Year 3
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating

2015
Aug
1,578,611

2015
Sep
446,611

2015
Oct
485,361

2015
Nov
489,361

2015
Dec
486,861

2015
Jan
464,479

2016
Feb
486,861

2016
Mar
489,361

2016
Apr
486,861

2016
May
489,361

2016
2016
Jun
Jul
456,861 - 2,541,559

73,738
1,652,348

73,738
520,348

73,738
559,098

73,738
563,098

73,738
560,598

73,738
538,216

73,738
560,598

73,738
563,098

73,738
560,598

73,738
563,098

73,738
73,738
530,598 - 2,467,821

Cash Flow from Investing


Net Cash Flow from investing

Cash Flow from Financing


Payment of debt
Cash dividend
Net Cash Flow from Financing

473,583 473,583 -

133,983 133,983 -

145,608 145,608 -

146,808 146,808 -

146,058 146,058 -

139,344 139,344 -

146,058 146,058 -

146,808 146,808 -

146,058 146,058 -

146,808 146,808 -

Net change in Cash


Cash at beginning of period
Cash at end of period

1,178,765
10,349,849
11,528,614

386,365
11,528,614
11,914,979

413,490
11,914,979
12,328,469

416,290
12,328,469
12,744,759

414,540
12,744,759
13,159,299

398,873
13,159,299
13,558,172

414,540
13,558,172
13,972,712

416,290
13,972,712
14,389,002

414,540
14,389,002
14,803,542

416,290
14,803,542
15,219,832

- 2,890,777
137,058
137,058 - 2,890,777
393,540 - 5,358,598
15,219,832 15,613,372
15,613,372 10,254,774

120

Income statement in case of credit risk for 5 percent in year 4


Year 4
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue

718,115
17,580
15,000
750,695

718,115
16,080
15,000
749,195

760,865
16,080
15,000
791,945

760,865
16,080
15,000
791,945

760,865
17,580
15,000
793,445

760,865
17,580
15,000
793,445

Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

73,738
292,334
458,361
458,361
458,361
320,852
137,508

73,738
288,334
460,861
460,861
460,861
322,602
138,258

73,738
292,334
499,611
499,611
499,611
349,727
149,883

73,738
288,334
503,611
503,611
503,611
352,527
151,083

73,738
292,334
501,111
501,111
501,111
350,777
150,333

Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

End of Period

760,865
17,580
15,000
793,445

760,865
16,080
15,000
791,945

760,865
17,580
15,000
793,445

760,865
16,080
15,000
791,945

732,365
16,080
15,000
763,445

732,365
18,030
15,000
30,000
795,395

8,987,874
202,410
180,000
30,000
9,400,284

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
314,716
478,729
478,729
478,729
335,110
143,619

73,738
292,334
501,111
501,111
501,111
350,777
150,333

73,738
288,334
503,611
503,611
503,611
352,527
151,083

73,738
292,334
501,111
501,111
501,111
350,777
150,333

73,738
288,334
503,611
503,611
503,611
352,527
151,083

73,738
73,738
292,334
288,334
471,111
507,061
2,112,690
471,111 - 1,605,629
755,441
471,111 - 2,361,070
329,777 - 2,361,070
141,333

884,851
3,510,388
5,889,896
2,112,690
3,777,206
755,441
3,021,765
2,115,235
906,529

121

Balance sheet in case of credit risk for 5 percent in year 4


Mee Sub Market
Balance Sheet
August 1, 2016 - July 31, 2017

Year 4
Asset
Current Asset
Cash
Total current asset

2016
Aug

2016
Sep

2016
Oct

2016
Nov

2016
Dec

2016
Jan

2017
Feb

2017
Mar

2017
Apr

2017
May

2017
Jun

2017
Jul

10,649,364
10,649,364

11,045,704
11,045,704

11,469,169
11,469,169

11,895,434
11,895,434

12,319,949
12,319,949

12,728,797
12,728,797

13,153,312
13,153,312

13,579,577
13,579,577

14,004,092
14,004,092

14,430,357
14,430,357

14,833,872
14,833,872

9,482,315
9,482,315

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
2,450,304
429,952
277,986
38,595,523

25,000,000
15,893,860
2,516,528
429,952
285,499
38,521,785

25,000,000
15,893,860
2,582,752
429,952
293,012
38,448,048

25,000,000
15,893,860
2,648,977
429,952
300,525
38,374,310

25,000,000
15,893,860
2,715,201
429,952
308,038
38,300,572

25,000,000
15,893,860
2,781,426
429,952
315,551
38,226,835

25,000,000
15,893,860
2,847,650
429,952
323,065
38,153,097

25,000,000
15,893,860
2,913,874
429,952
330,578
38,079,360

25,000,000
15,893,860
2,980,099
429,952
338,091
38,005,622

25,000,000
15,893,860
3,046,323
429,952
345,604
37,931,885

25,000,000
15,893,860
3,112,548
429,952
353,117
37,858,147

25,000,000
15,893,860
3,178,772
429,952
360,630
37,784,410

Total asset

49,244,887

49,567,489

49,917,216

50,269,744

50,620,521

50,955,631

51,306,409

51,658,936

52,009,714

52,362,241

52,692,019

47,266,725

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

3,064,223
32,147,276
8,000,000
6,033,387
49,244,887

3,064,223
32,147,276
8,000,000
6,355,989
49,567,489

3,064,223
32,147,276
8,000,000
6,705,717
49,917,216

3,064,223
32,147,276
8,000,000
7,058,244
50,269,744

3,064,223
32,147,276
8,000,000
7,409,022
50,620,521

3,064,223
32,147,276
8,000,000
7,744,132
50,955,631

3,064,223
32,147,276
8,000,000
8,094,909
51,306,409

3,064,223
32,147,276
8,000,000
8,447,437
51,658,936

3,064,223
32,147,276
8,000,000
8,798,214
52,009,714

3,064,223
32,147,276
8,000,000
9,150,742
52,362,241

3,064,223 32,147,276 32,147,276


8,000,000
8,000,000
9,480,519
7,119,449
52,692,019 47,266,725

122

Statement of cash flow in case of credit risk for 5 percent in year 4


Mee Sub Market
Statement of Cash Flow
Aug 1, 2016-July 31, 2017

Year 4
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Net Cash Flow from investing
Cash Flow from Financing
Payment of debt
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2016
Aug
458,361

2016
Sep
460,861

2016
Oct
499,611

2016
Nov
503,611

2016
Dec
501,111

2016
Jan
478,729

2017
Feb
501,111

2017
Mar
503,611

2017
Apr
501,111

2017
May
503,611

2017
2017
Jun
Jul
471,111 - 2,361,070

73,738
532,098

73,738
534,598

73,738
573,348

73,738
577,348

73,738
574,848

73,738
552,466

73,738
574,848

73,738
577,348

73,738
574,848

73,738
577,348

73,738
73,738
544,848 - 2,287,333

137,508 137,508 -

138,258 138,258 -

149,883 149,883 -

151,083 151,083 -

150,333 150,333 -

143,619 143,619 -

150,333 150,333 -

151,083 151,083 -

150,333 150,333 -

151,083 151,083 -

394,590
10,254,774
10,649,364

396,340
10,649,364
11,045,704

423,465
11,045,704
11,469,169

426,265
11,469,169
11,895,434

424,515
11,895,434
12,319,949

408,848
12,319,949
12,728,797

424,515
12,728,797
13,153,312

426,265
13,153,312
13,579,577

424,515
13,579,577
14,004,092

426,265
14,004,092
14,430,357

- 3,064,223
141,333
141,333 - 3,064,223
403,515 - 5,351,556
14,430,357 14,833,872
14,833,872
9,482,315

123

Income statement in case of credit risk for 5 percent in year 5


Year 5
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue

732,365
17,580
15,000
764,945

740,240
16,080
15,000
771,320

Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
472,611
472,611
472,611
330,827
141,783

Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

782,990
16,080
15,000
814,070

782,990
16,080
15,000
814,070

782,990
17,580
15,000
815,570

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

73,738
288,334
482,986
482,986
482,986
338,090
144,896

73,738
292,334
521,736
521,736
521,736
365,215
156,521

73,738
288,334
525,736
525,736
525,736
368,015
157,721

Jan

Feb

Mar

Apr

May

Jun

Jul

End of Period

782,990
17,580
15,000
815,570

782,990
17,580
15,000
815,570

782,990
16,080
15,000
814,070

782,990
17,580
15,000
815,570

782,990
16,080
15,000
814,070

754,490
16,080
15,000
785,570

754,490
18,030
15,000
30,000
817,520

9,245,505
202,410
180,000
30,000
9,657,915

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
523,236
523,236
523,236
366,265
156,971

73,738
314,716
500,854
500,854
500,854
350,598
150,256

73,738
292,334
523,236
523,236
523,236
366,265
156,971

73,738
288,334
525,736
525,736
525,736
368,015
157,721

73,738
292,334
523,236
523,236
523,236
366,265
156,971

73,738
288,334
525,736
525,736
525,736
368,015
157,721

73,738
73,738
292,334
288,334
493,236
529,186
1,928,837
493,236 - 1,399,650
843,738
493,236 - 2,243,388
345,265 - 2,243,388
147,971

884,851
3,510,388
6,147,526
1,928,837
4,218,690
843,738
3,374,952
2,362,466
1,012,486

124

Balance sheet in case of credit risk for 5 percent in year 5


Mee Sub Market
Balance Sheet
August 1, 2017 - July 31, 2018

Year 5
Asset
Current Asset
Cash
Total current asset

2017
Aug

2017
Sep

2017
Oct

2017
Nov

2017
Dec

2017
Jan

2018
Feb

2018
Mar

2018
Apr

2018
May

2018
Jun

2018
Jul

9,886,880
9,886,880

10,298,708
10,298,708

10,737,661
10,737,661

11,179,414
11,179,414

11,619,417
11,619,417

12,043,752
12,043,752

12,483,755
12,483,755

12,925,508
12,925,508

13,365,511
13,365,511

13,807,264
13,807,264

14,226,266
14,226,266

8,808,539
8,808,539

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
3,244,997
429,952
368,143
37,710,672

25,000,000
15,893,860
3,311,221
429,952
375,657
37,636,935

25,000,000
15,893,860
3,377,445
429,952
383,170
37,563,197

25,000,000
15,893,860
3,443,670
429,952
390,683
37,489,459

25,000,000
15,893,860
3,509,894
429,952
398,196
37,415,722

25,000,000
15,893,860
3,576,119
429,952
405,709
37,341,984

25,000,000
15,893,860
3,642,343
429,952
413,222
37,268,247

25,000,000
15,893,860
3,708,568
429,952
420,735
37,194,509

25,000,000
15,893,860
3,774,792
429,952
428,248
37,120,772

25,000,000
15,893,860
3,841,016
429,952
435,762
37,047,034

25,000,000
15,893,860
3,907,241
429,952
443,275
36,973,297

25,000,000
15,893,860
3,973,465
429,952
450,788
36,899,559

Total asset

47,597,552

47,935,643

48,300,858

48,668,873

49,035,139

49,385,736

49,752,002

50,120,017

50,486,282

50,854,298

51,199,563

45,708,098

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

3,248,077
28,899,200
8,000,000
7,450,276
47,597,552

3,248,077
28,899,200
8,000,000
7,788,366
47,935,643

3,248,077
28,899,200
8,000,000
8,153,582
48,300,858

3,248,077
28,899,200
8,000,000
8,521,597
48,668,873

3,248,077
28,899,200
8,000,000
8,887,862
49,035,139

3,248,077
28,899,200
8,000,000
9,238,460
49,385,737

3,248,077
28,899,200
8,000,000
9,604,725
49,752,002

3,248,077
28,899,200
8,000,000
9,972,741
50,120,017

3,248,077
28,899,200
8,000,000
10,339,006
50,486,282

3,248,077
28,899,200
8,000,000
10,707,021
50,854,298

3,248,077 28,899,200
28,899,200
8,000,000
8,000,000
11,052,287
8,808,898
51,199,563
45,708,098

125

Statement of cash flow in case of credit risk for 5 percent in year 5


Mee Sub Market
Statement of Cash Flow
Aug 1, 2017-July 31, 2018

Year 5
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Net Cash Flow from investing
Cash Flow from Financing
Payment of debt
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2017
Aug
472,611

2017
Sep
482,986

2017
Oct
521,736

2017
Nov
525,736

2017
Dec
523,236

2018
Jan
500,854

2018
Feb
523,236

2018
Mar
525,736

2018
Apr
523,236

2018
May
525,736

2018
Jun
493,236 -

2018
Jul
2,243,388

73,738
546,348

73,738
556,724

73,738
595,474

73,738
599,474

73,738
596,974

73,738
574,592

73,738
596,974

73,738
599,474

73,738
596,974

73,738
599,474

73,738
566,974 -

73,738
2,169,651

141,783 141,783 -

144,896 144,896 -

156,521 156,521 -

157,721 157,721 -

156,971 156,971 -

150,256 150,256 -

156,971 156,971 -

157,721 157,721 -

156,971 156,971 -

157,721 157,721 -

147,971
147,971 -

404,565
9,482,315
9,886,880

411,828
9,886,880
10,298,708

438,953
10,298,708
10,737,661

441,753
10,737,661
11,179,414

440,003
11,179,414
11,619,417

424,336
11,619,417
12,043,752

440,003
12,043,752
12,483,755

441,753
12,483,755
12,925,508

440,003
12,925,508
13,365,511

441,753
13,365,511
13,807,264

3,248,077
3,248,077

419,003 - 5,417,727
13,807,264
14,226,266
14,226,266
8,808,539

126

If we meet credit risk for 10 percent, it will affect to decrease our revenue and profit as show in Income statement, Balance sheet and cash flow.
Year 1
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Pre-operating expense
Marketing Expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes 20%
Net Income

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

End of Period

16,080
16,080

523,341
17,580
540,921

523,341
16,080
15,000
554,421

523,341
16,080
15,000
554,421

523,341
16,080
15,000
554,421

496,341
21,750
15,000
533,091

496,341
16,080
15,000
527,421

496,341
17,580
15,000
528,921

496,341
16,580
15,000
527,921

496,341
17,580
15,000
528,921

5,628,500
4,575,069
205,130
120,000
10,528,699

5,628,500
17,580
5,646,080

16,080
16,080

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
2,078,393
161,900
73,738
2,532,627
3,113,453 3,113,453 3,113,453 -

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
272,254 272,254 272,254 -

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
276,254
276,254
276,254

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
252,587
252,587
252,587

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
262,087
262,087
262,087

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978
73,738
314,716
239,705
239,705
239,705

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
262,087
262,087
262,087

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
244,757
244,757
244,757

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
235,087
235,087
235,087

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
240,587
240,587
240,587

66,000
66,000
640
640
71,005
71,005
48,626
48,626
1,165
1,165
4,800
4,800
4,000
3,000
3,000
7,000
7,000
12,360
12,360
218,596
214,596
73,738
73,738
292,334
288,334
235,587
240,587
2,604,132
235,587 - 2,363,545
434,777
235,587 - 2,798,322

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538
2,078,393
161,900
884,851
5,750,681
4,778,018
2,604,132
2,173,885
434,777
1,739,108

3,113,453 -

272,254 -

276,254

176,811

183,461

167,794

183,461

171,330

164,561

168,411

164,911 - 2,798,322

1,217,376

75,776

78,626

71,912

78,626

73,427

70,526

72,176

70,676

521,732

127

Balance sheet in case of credit risk for 10 percent in year 1


Mee Sub Market
Balance Sheet
August 1, 2013 - July 31, 2014
2013
Aug

2013
Sep

2013
Oct

2013
Nov

2013
Dec

2014
Jan

2014
Feb

2014
Mar

2014
Apr

2014
May

2014
Jun

2014
Jul

Year 1
Asset
Current Asset
Cash
Total current asset

13,265,584
13,265,584

13,067,067
13,067,067

12,864,551
12,864,551

13,115,100
13,115,100

13,372,298
13,372,298

13,613,829
13,613,829

13,871,028
13,871,028

14,116,095
14,116,095

14,354,394
14,354,394

14,596,543
14,596,543

14,835,191
14,835,191

9,537,825
9,537,825

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
66,224
429,952
7,513
41,250,074

25,000,000
15,893,860
132,449
429,952
15,026
41,176,337

25,000,000
15,893,860
198,673
429,952
22,539
41,102,599

25,000,000
15,893,860
264,898
429,952
30,053
41,028,862

25,000,000
15,893,860
331,122
429,952
37,566
40,955,124

25,000,000
15,893,860
397,347
429,952
45,079
40,881,387

25,000,000
15,893,860
463,571
429,952
52,592
40,807,649

25,000,000
15,893,860
529,795
429,952
60,105
40,733,912

25,000,000
15,893,860
596,020
429,952
67,618
40,660,174

25,000,000
15,893,860
662,244
429,952
75,131
40,586,437

25,000,000
15,893,860
728,469
429,952
82,644
40,512,699

25,000,000
15,893,860
794,693
429,952
90,158
40,438,961

Total asset

54,515,658

54,243,404

53,967,150

54,143,961

54,327,422

54,495,216

54,678,677

54,850,007

55,014,568

55,182,979

55,347,890

49,976,787

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,572,781
40,829,424
8,000,000
3,113,453
54,515,658

2,572,781
40,829,424
8,000,000
2,841,199
54,243,404

2,572,781
40,829,424
8,000,000
2,564,945
53,967,150

2,572,781
40,829,424
8,000,000
2,741,756
54,143,961

2,572,781
40,829,424
8,000,000
2,925,217
54,327,422

2,572,781
40,829,424
8,000,000
3,093,011
54,495,216

2,572,781
40,829,424
8,000,000
3,276,472
54,678,677

2,572,781
40,829,424
8,000,000
3,447,802
54,850,007

2,572,781
40,829,424
8,000,000
3,612,363
55,014,568

2,572,781
40,829,424
8,000,000
3,780,774
55,182,979

2,572,781 40,829,424
40,829,424
8,000,000
8,000,000
3,945,685
1,147,363
55,347,890
49,976,787

128

Cash Flow in case of credit risk for 10 percent in year 1


Mee Sub Market
Statement of Cash Flow
Aug 1, 2013-July 31, 2014

Year 1
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Purchase land
Investment for building
Purchase equipment
Net Cash Flow from investing
Cash Flow from Financing
Payment of debt
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2013
Aug
3,113,453 -

2013
Sep
272,254 -

2013
Oct
276,254

2013
Nov
252,587

2013
Dec
262,087

2014
Jan
239,705

2014
Feb
262,087

2014
Mar
244,757

2014
Apr
235,087

2014
May
240,587

2014
2014
Jun
Jul
235,587 - 2,798,322

73,738
3,187,191 -

73,738
198,516 -

73,738
202,516

73,738
326,325

73,738
335,825

73,738
313,443

73,738
335,825

73,738
318,495

73,738
308,825

73,738
314,325

73,738
73,738
309,325 - 2,724,585

- 25,000,000
- 15,893,860
429,952
- 41,323,812

- 38,136,621 198,516 202,516


51,402,205 13,265,584 13,067,067
13,265,584 13,067,067 12,864,551

75,776 75,776 -

78,626 78,626 -

71,912 71,912 -

78,626 78,626 -

73,427 73,427 -

70,526 70,526 -

72,176 72,176 -

- 2,572,781
70,676
70,676 - 2,572,781

250,549
12,864,551
13,115,100

257,199
13,115,100
13,372,298

241,531
13,372,298
13,613,829

257,199
13,613,829
13,871,028

245,068
13,871,028
14,116,095

238,299
14,116,095
14,354,394

242,149
14,354,394
14,596,543

238,649 - 5,297,366
14,596,543 14,835,191
14,835,191
9,537,825

129

Income Statement in case of credit risk for 10 percent in year 2


Year 2
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

2014

2014

2014

2014

2014

2015

2015

2015

2015

2015

2015

2015

2015

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

1,272,000
578,691
16,080
15,000
1,881,771

578,691
16,080
15,000
609,771

619,191
16,080
15,000
650,271

619,191
16,080
15,000
650,271

619,191
16,080
15,000
650,271

619,191
16,080
15,000
650,271

619,191
16,080
15,000
650,271

619,191
16,080
15,000
650,271

619,191
16,080
15,000
650,271

619,191
16,080
15,000
650,271

592,191
16,080
15,000
623,271

592,191
16,080
15,000
623,271

1,272,000
7,295,292
192,960
180,000
8,940,252

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
1,589,437
1,589,437
1,589,437

73,738
288,334
321,437
321,437
321,437

73,738
292,334
357,937
357,937
357,937

73,738
288,334
361,937
361,937
361,937

73,738
292,334
357,937
357,937
357,937

73,738
314,716
335,555
335,555
335,555

73,738
292,334
357,937
357,937
357,937

73,738
288,334
361,937
361,937
361,937

73,738
292,334
357,937
357,937
357,937

73,738
288,334
361,937
361,937
361,937

73,738
73,738
292,334
288,334
330,937
334,937
2,449,765
330,937 - 2,114,828
596,020
330,937 - 2,710,848

884,851
3,510,388
5,429,864
2,449,765
2,980,098
596,020
2,384,079

1,112,606
476,831

225,006
96,431

250,556
107,381

253,356
108,581

250,556
107,381

234,889
100,667

250,556
107,381

253,356
108,581

250,556
107,381

253,356
108,581

231,656 - 2,710,848
99,281

1,668,855
715,224

130

Balance sheet in case of credit risk for 10 percent in year 2


Mee Sub Market
Balance Sheet
August 1, 2014 - July 31, 2015

Year 2
Asset
Current Asset
Cash
Total current asset

2014
Aug

2014
Sep

2014
Oct

2014
Nov

2014
Dec

2015
Jan

2015
Feb

2015
Mar

2015
Apr

2015
May

2015
Jun

2015
Jul

10,724,169
10,724,169

11,022,913
11,022,913

11,347,206
11,347,206

11,674,300
11,674,300

11,998,593
11,998,593

12,307,219
12,307,219

12,631,513
12,631,513

12,958,606
12,958,606

13,282,900
13,282,900

13,609,994
13,609,994

13,915,387
13,915,387

8,551,129
8,551,129

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
860,917
429,952
97,671
40,365,224

25,000,000
15,893,860
927,142
429,952
105,184
40,291,486

25,000,000
15,893,860
993,366
429,952
112,697
40,217,749

25,000,000
15,893,860
1,059,591
429,952
120,210
40,144,011

25,000,000
15,893,860
1,125,815
429,952
127,723
40,070,274

25,000,000
15,893,860
1,192,040
429,952
135,236
39,996,536

25,000,000
15,893,860
1,258,264
429,952
142,749
39,922,799

25,000,000
15,893,860
1,324,488
429,952
150,263
39,849,061

25,000,000
15,893,860
1,390,713
429,952
157,776
39,775,323

25,000,000
15,893,860
1,456,937
429,952
165,289
39,701,586

25,000,000
15,893,860
1,523,162
429,952
172,802
39,627,848

25,000,000
15,893,860
1,589,386
429,952
180,315
39,554,111

Total asset

51,089,393

51,314,399

51,564,955

51,818,311

52,068,867

52,303,755

52,554,311

52,807,667

53,058,223

53,311,579

53,543,235

48,105,240

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,727,148
38,102,276
8,000,000
2,259,969
51,089,393

2,727,148
38,102,276
8,000,000
2,484,975
51,314,399

2,727,148
38,102,276
8,000,000
2,735,531
51,564,955

2,727,148
38,102,276
8,000,000
2,988,887
51,818,311

2,727,148
38,102,276
8,000,000
3,239,443
52,068,867

2,727,148
38,102,276
8,000,000
3,474,331
52,303,755

2,727,148
38,102,276
8,000,000
3,724,887
52,554,311

2,727,148
38,102,276
8,000,000
3,978,243
52,807,667

2,727,148
38,102,276
8,000,000
4,228,799
53,058,223

2,727,148
38,102,276
8,000,000
4,482,155
53,311,579

2,727,148 38,102,276 38,102,276


8,000,000
8,000,000
4,713,811
2,002,963
53,543,235 48,105,240

131

Cash Flow in case of credit risk for 10 percent in year 2


Mee Sub Market
Statement of Cash Flow
Aug 1, 2014-July 31, 2015

Year 2
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Cash Flow from Financing
Decrease in loan payable
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2014
Aug
1,589,437

2014
Sep
321,437

2014
Oct
357,937

2014
Nov
361,937

2014
Dec
357,937

2015
Jan
335,555

2015
Feb
357,937

2015
Mar
361,937

2015
Apr
357,937

2015
May
361,937

2015
2015
Jun
Jul
330,937 - 2,710,848

73,738
1,663,175

73,738
395,175

73,738
431,675

73,738
435,675

73,738
431,675

73,738
409,293

73,738
431,675

73,738
435,675

73,738
431,675

73,738
435,675

73,738
73,738
404,675 - 2,637,110

476,831 476,831 1,186,344


9,537,825
10,724,169

96,431 96,431 298,744


10,724,169
11,022,913

107,381 107,381 324,294


11,022,913
11,347,206

108,581 108,581 327,094


11,347,206
11,674,300

107,381 107,381 324,294


11,674,300
11,998,593

100,667 100,667 308,626


11,998,593
12,307,219

107,381 107,381 324,294


12,307,219
12,631,513

108,581 108,581 327,094


12,631,513
12,958,606

107,381 107,381 324,294


12,958,606
13,282,900

108,581 108,581 327,094


13,282,900
13,609,994

- 2,727,148
99,281
99,281 - 2,727,148
305,394 - 5,364,258
13,609,994 13,915,387
13,915,387
8,551,129

132

Income Statement in case of credit risk for 10 percent in year 3


Year 3
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes 20%
Net Income

Retain Earning
Dividend 30%

2015

2015

2015

2015

2015

2016

2016

2016

2016

2016

2016

2016

2016

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

1,134,500
666,819
17,580
15,000
1,833,899

666,819
16,080
15,000
697,899

707,319
16,080
15,000
738,399

707,319
16,080
15,000
738,399

707,319
17,580
15,000
739,899

707,319
17,580
15,000
739,899

707,319
17,580
15,000
739,899

707,319
16,080
15,000
738,399

707,319
17,580
15,000
739,899

707,319
16,080
15,000
738,399

680,319
16,080
15,000
711,399

680,319
18,030
15,000
28,000
741,349

1,134,500
8,352,828
202,410
180,000
28,000
9,897,738

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
1,541,565
1,541,565
1,541,565
1,079,096
462,470

73,738
288,334
409,565
409,565
409,565
286,696
122,870

73,738
292,334
446,065
446,065
446,065
312,246
133,820

73,738
288,334
450,065
450,065
450,065
315,046
135,020

73,738
292,334
447,565
447,565
447,565
313,296
134,270

73,738
314,716
425,183
425,183
425,183
297,628
127,555

73,738
292,334
447,565
447,565
447,565
313,296
134,270

73,738
288,334
450,065
450,065
450,065
315,046
135,020

73,738
292,334
447,565
447,565
447,565
313,296
134,270

73,738
288,334
450,065
450,065
450,065
315,046
135,020

73,738
73,738
292,334
288,334
419,065
453,015
2,286,137
419,065 - 1,833,121
820,243
419,065 - 2,653,364
293,346 - 2,653,364
125,720

884,851
3,510,388
6,387,350
2,286,137
4,101,213
820,243
3,280,970
2,296,679
984,291

133

Balance sheet in case of credit risk for 10 percent in year 3


Mee Sub Market
Balance Sheet
August 1, 2015 - July 31, 2016
2015
Sep

2015
Oct

2015
Nov

2015
Dec

2016
Jan

2016
Feb

2016
Mar

2016
Apr

2016
May

2016
Jun

9,703,962
9,703,962

10,064,395
10,064,395

10,450,378
10,450,378

10,839,161
10,839,161

11,226,195
11,226,195

11,597,560
11,597,560

11,984,594
11,984,594

12,373,377
12,373,377

12,760,410
12,760,410

13,149,193
13,149,193

13,516,276
13,516,276

8,045,873
8,045,873

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
1,655,611
429,952
187,828
39,480,373

25,000,000
15,893,860
1,721,835
429,952
195,341
39,406,636

25,000,000
15,893,860
1,788,059
429,952
202,855
39,332,898

25,000,000
15,893,860
1,854,284
429,952
210,368
39,259,161

25,000,000
15,893,860
1,920,508
429,952
217,881
39,185,423

25,000,000
15,893,860
1,986,733
429,952
225,394
39,111,686

25,000,000
15,893,860
2,052,957
429,952
232,907
39,037,948

25,000,000
15,893,860
2,119,181
429,952
240,420
38,964,210

25,000,000
15,893,860
2,185,406
429,952
247,933
38,890,473

25,000,000
15,893,860
2,251,630
429,952
255,446
38,816,735

25,000,000
15,893,860
2,317,855
429,952
262,960
38,742,998

25,000,000
15,893,860
2,384,079
429,952
270,473
38,669,260

Total asset

49,184,335

49,471,031

49,783,276

50,098,322

50,411,618

50,709,246

51,022,541

51,337,587

51,650,883

51,965,928

52,259,274

46,715,133

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,890,777
35,211,500
8,000,000
3,082,059
49,184,335

2,890,777
35,211,500
8,000,000
3,368,755
49,471,031

2,890,777
35,211,500
8,000,000
3,681,000
49,783,276

2,890,777
35,211,500
8,000,000
3,996,046
50,098,322

2,890,777
35,211,500
8,000,000
4,309,341
50,411,618

2,890,777
35,211,500
8,000,000
4,606,970
50,709,246

2,890,777
35,211,500
8,000,000
4,920,265
51,022,541

2,890,777
35,211,500
8,000,000
5,235,311
51,337,587

2,890,777
35,211,500
8,000,000
5,548,606
51,650,883

2,890,777
35,211,500
8,000,000
5,863,652
51,965,928

2,890,777
35,211,500
8,000,000
6,156,998
52,259,274

35,211,500
8,000,000
3,503,633
46,715,133

Year 3
Asset
Current Asset
Cash
Total current asset

2015
Aug

2016
Jul

134

Cash Flow in case of credit risk for 10 percent in year 3


Mee Sub Market
Statement of Cash Flow
Aug 1, 2015-July 31, 2016

Year 3
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating

2015
2015
2015
2015
2015
2016
2016
2016
2016
2016
2016
2016
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
1,541,565 409,565 446,065 450,065 447,565 425,183 447,565 450,065 447,565 450,065 419,065 - 2,653,364

Cash Flow from Investing


Cash Flow from Financing
Decrease in loan payable
Cash dividend
Net Cash Flow from Financing Net change in Cash
Cash at beginning of period
Cash at end of period

73,738
1,615,303

462,470 462,470 1,152,833


8,551,129
9,703,962

73,738
483,303

122,870 122,870 360,433


9,703,962
10,064,395

73,738
519,803

133,820 133,820 385,983


10,064,395
10,450,378

73,738
523,803

135,020 135,020 388,783


10,450,378
10,839,161

73,738
521,303

134,270 134,270 387,033


10,839,161
11,226,195

73,738
498,921

127,555 127,555 371,366


11,226,195
11,597,560

73,738
521,303

134,270 134,270 387,033


11,597,560
11,984,594

73,738
523,803

135,020 135,020 -

73,738
521,303

134,270 134,270 -

388,783
387,033
11,984,594 12,373,377
12,373,377 12,760,410

73,738
523,803

135,020 135,020 388,783


12,760,410
13,149,193

73,738
73,738
492,803 - 2,579,627

- 2,890,777
125,720
125,720 - 2,890,777
367,083 - 5,470,403
13,149,193 13,516,276
13,516,276
8,045,873

135

Income Statement in case of credit risk for 10 percent in year 4


Year 4
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

2016

2016

2016

2016

2016

2017

2017

2017

2017

2017

2017

2017

2017

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

680,319
17,580
15,000
712,899

680,319
16,080
15,000
711,399

720,819
16,080
15,000
751,899

720,819
16,080
15,000
751,899

720,819
17,580
15,000
753,399

720,819
17,580
15,000
753,399

720,819
17,580
15,000
753,399

720,819
16,080
15,000
751,899

720,819
17,580
15,000
753,399

720,819
16,080
15,000
751,899

693,819
16,080
15,000
724,899

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

73,738
292,334
420,565
420,565
420,565
294,396
126,170

73,738
288,334
423,065
423,065
423,065
296,146
126,920

73,738
292,334
459,565
459,565
459,565
321,696
137,870

73,738
288,334
463,565
463,565
463,565
324,496
139,070

73,738
292,334
461,065
461,065
461,065
322,746
138,320

73,738
314,716
438,683
438,683
438,683
307,078
131,605

73,738
292,334
461,065
461,065
461,065
322,746
138,320

73,738
288,334
463,565
463,565
463,565
324,496
139,070

73,738
292,334
461,065
461,065
461,065
322,746
138,320

73,738
288,334
463,565
463,565
463,565
324,496
139,070

693,819
8,514,828
18,030
202,410
15,000
180,000
30,000
30,000
756,849 8,927,238

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
73,738
884,851
292,334
288,334 3,510,388
432,565
468,515 5,416,850
2,112,690
2,112,690
432,565 - 1,644,175
3,304,160
660,832
660,832
432,565 - 2,305,007 2,643,328
302,796 - 2,305,007
1,850,329
129,770
792,998

136

Balance sheet in case of credit risk for 10 percent in year 4


Mee Sub Market
Balance Sheet
August 1, 2016 - July 31, 2017
2016
Aug

2016
Sep

2016
Oct

2016
Nov

2016
Dec

2017
Jan

2017
Feb

2017
Mar

2017
Apr

2017
May

2017
Jun

2017
Jul

Year 4
Asset
Current Asset
Cash
Total current asset

8,414,006 8,783,889 9,179,322 9,577,556 9,974,039 10,354,854 10,751,338 11,149,571 11,546,054 11,944,287 12,320,820 7,025,328
8,414,006
8,783,889
9,179,322
9,577,556
9,974,039
10,354,854
10,751,338
11,149,571
11,546,054
11,944,287
12,320,820
7,025,328

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
2,450,304
429,952
277,986
38,595,523

25,000,000
15,893,860
2,516,528
429,952
285,499
38,521,785

25,000,000
15,893,860
2,582,752
429,952
293,012
38,448,048

25,000,000
15,893,860
2,648,977
429,952
300,525
38,374,310

25,000,000
15,893,860
2,715,201
429,952
308,038
38,300,572

25,000,000
15,893,860
2,781,426
429,952
315,551
38,226,835

25,000,000
15,893,860
2,847,650
429,952
323,065
38,153,097

25,000,000
15,893,860
2,913,874
429,952
330,578
38,079,360

25,000,000
15,893,860
2,980,099
429,952
338,091
38,005,622

25,000,000
15,893,860
3,046,323
429,952
345,604
37,931,885

25,000,000
15,893,860
3,112,548
429,952
353,117
37,858,147

25,000,000
15,893,860
3,178,772
429,952
360,630
37,784,410

Total asset

47,009,529

47,305,674

47,627,370

47,951,866

48,274,611

48,581,689

48,904,435

49,228,931

49,551,676

49,876,172

50,178,967

44,809,737

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

3,064,223
32,147,276
8,000,000
3,798,029
47,009,529

3,064,223
32,147,276
8,000,000
4,094,175
47,305,674

3,064,223
32,147,276
8,000,000
4,415,870
47,627,370

3,064,223
32,147,276
8,000,000
4,740,366
47,951,866

3,064,223
32,147,276
8,000,000
5,063,111
48,274,611

3,064,223
32,147,276
8,000,000
5,370,190
48,581,689

3,064,223
32,147,276
8,000,000
5,692,935
48,904,435

3,064,223
32,147,276
8,000,000
6,017,431
49,228,931

3,064,223
32,147,276
8,000,000
6,340,176
49,551,676

3,064,223
32,147,276
8,000,000
6,664,672
49,876,172

3,064,223 32,147,276 32,147,276


8,000,000
8,000,000
6,967,468
4,662,461
50,178,967 44,809,737

137

Cash Flow in case of credit risk for 10 percent in year 4


Mee Sub Market
Statement of Cash Flow
Aug 1, 2016-July 31, 2017

Year4
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Cash Flow from Financing
Decrease in loan payable
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2016
2016
2016
2016
2016
2017
2017
2017
2017
2017
2017
2017
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
420,565 423,065 459,565 463,565 461,065 438,683 461,065 463,565 461,065 463,565 432,565 - 2,305,007
73,738
494,303

126,170 126,170 368,133


8,045,873
8,414,006

73,738
496,803

126,920 126,920 369,883


8,414,006
8,783,889

73,738
533,303

137,870 137,870 395,433


8,783,889
9,179,322

73,738
537,303

139,070 139,070 398,233


9,179,322
9,577,556

73,738
534,803

138,320 138,320 396,483


9,577,556
9,974,039

73,738
512,421

131,605 131,605 380,816


9,974,039
10,354,854

73,738
534,803

138,320 138,320 396,483


10,354,854
10,751,338

73,738
537,303

139,070 139,070 398,233


10,751,338
11,149,571

73,738
534,803

138,320 138,320 396,483


11,149,571
11,546,054

73,738
537,303

139,070 139,070 398,233


11,546,054
11,944,287

73,738
73,738
506,303 - 2,231,269

- 3,064,223
129,770
129,770 - 3,064,223
376,533 - 5,295,492
11,944,287 12,320,820
12,320,820
7,025,328

138

Income Statement in case of credit risk for 10 percent in year 5


Year 5
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes 20%
Net Income

Retain Earning
Dividend 30%

2017

2017

2017

2017

2017

2018

2018

2018

2018

2018

2018

2018

2018

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

693,819
17,580
15,000
726,399

701,280
16,080
15,000
732,360

741,780
16,080
15,000
772,860

741,780
16,080
15,000
772,860

741,780
17,580
15,000
774,360

741,780
17,580
15,000
774,360

741,780
17,580
15,000
774,360

741,780
16,080
15,000
772,860

741,780
17,580
15,000
774,360

741,780
16,080
15,000
772,860

714,780
16,080
15,000
745,860

714,780
18,030
15,000
30,000
777,810

8,758,899
202,410
180,000
30,000
9,171,309

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
434,065
434,065
434,065
303,846
130,220

73,738
288,334
444,026
444,026
444,026
310,818
133,208

73,738
292,334
480,526
480,526
480,526
336,368
144,158

73,738
288,334
484,526
484,526
484,526
339,168
145,358

73,738
292,334
482,026
482,026
482,026
337,418
144,608

73,738
314,716
459,644
459,644
459,644
321,751
137,893

73,738
292,334
482,026
482,026
482,026
337,418
144,608

73,738
288,334
484,526
484,526
484,526
339,168
145,358

73,738
292,334
482,026
482,026
482,026
337,418
144,608

73,738
288,334
484,526
484,526
484,526
339,168
145,358

73,738
73,738
292,334
288,334
453,526
489,476
1,928,837
453,526 - 1,439,360
746,417
453,526 - 2,185,777
317,468 - 2,185,777
136,058

884,851
3,510,388
5,660,921
1,928,837
3,732,084
746,417
2,985,667
2,089,967
895,700

139

Balance sheet in case of credit risk for 10 percent in year 5


Mee Sub Market
Balance Sheet
August 1, 2017 - July 31, 2018
2017
Aug

2017
Sep

2017
Oct

2017
Nov

2017
Dec

2018
Jan

2018
Feb

2018
Mar

2018
Apr

2018
May

2018
Jun

2018
Jul

Year 5
Asset
Current Asset
Cash
Total current asset

7,402,911 7,787,467 8,197,573 8,610,478 9,021,634 9,417,123 9,828,279 10,241,184 10,652,340 11,065,246 11,456,452 6,096,336
7,402,911
7,787,467
8,197,573
8,610,478
9,021,634
9,417,123
9,828,279
10,241,184
10,652,340
11,065,246
11,456,452
6,096,336

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
3,244,997
429,952
368,143
37,710,672

25,000,000
15,893,860
3,311,221
429,952
375,657
37,636,935

25,000,000
15,893,860
3,377,445
429,952
383,170
37,563,197

25,000,000
15,893,860
3,443,670
429,952
390,683
37,489,459

25,000,000
15,893,860
3,509,894
429,952
398,196
37,415,722

25,000,000
15,893,860
3,576,119
429,952
405,709
37,341,984

25,000,000
15,893,860
3,642,343
429,952
413,222
37,268,247

25,000,000
15,893,860
3,708,568
429,952
420,735
37,194,509

25,000,000
15,893,860
3,774,792
429,952
428,248
37,120,772

25,000,000
15,893,860
3,841,016
429,952
435,762
37,047,034

25,000,000
15,893,860
3,907,241
429,952
443,275
36,973,297

25,000,000
15,893,860
3,973,465
429,952
450,788
36,899,559

Total asset

45,113,583

45,424,401

45,760,769

46,099,938

46,437,356

46,759,107

47,096,525

47,435,694

47,773,112

48,112,280

48,429,748

42,995,895

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

3,248,077
28,899,200
8,000,000
4,966,306
45,113,583

3,248,077
28,899,200
8,000,000
5,277,125
45,424,401

3,248,077
28,899,200
8,000,000
5,613,493
45,760,769

3,248,077
28,899,200
8,000,000
5,952,661
46,099,938

3,248,077
28,899,200
8,000,000
6,290,080
46,437,356

3,248,077
28,899,200
8,000,000
6,611,831
46,759,107

3,248,077
28,899,200
8,000,000
6,949,249
47,096,525

3,248,077
28,899,200
8,000,000
7,288,417
47,435,694

3,248,077
28,899,200
8,000,000
7,625,835
47,773,112

3,248,077
28,899,200
8,000,000
7,965,004
48,112,280

3,248,077 28,899,200
28,899,200
8,000,000
8,000,000
8,282,472
6,096,695
48,429,748
42,995,895

140

Cash Flow in case of credit risk for 10 percent in year 5


Mee Sub Market
Statement of Cash Flow
Aug 1, 2017-July 31, 2018

Year5
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Cash Flow from Financing
Decrease in loan payable
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2017
2017
2017
2017
2017
2018
2018
2018
2018
2018
2018
2018
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
434,065 444,026 480,526 484,526 482,026 459,644 482,026 484,526 482,026 484,526 453,526 - 2,185,777
73,738
507,803

130,220 130,220 377,583


7,025,328
7,402,911

73,738
517,764

133,208 133,208 384,556


7,402,911
7,787,467

73,738
554,264

144,158 144,158 410,106


7,787,467
8,197,573

73,738
558,264

145,358 145,358 412,906


8,197,573
8,610,478

73,738
555,764

144,608 144,608 411,156


8,610,478
9,021,634

73,738
533,382

137,893 137,893 395,489


9,021,634
9,417,123

73,738
555,764

144,608 144,608 411,156


9,417,123
9,828,279

73,738
558,264

145,358 145,358 412,906


9,828,279
10,241,184

73,738
555,764

144,608 144,608 411,156


10,241,184
10,652,340

73,738
558,264

145,358 145,358 412,906


10,652,340
11,065,246

73,738
527,264 -

136,058
136,058 -

73,738
2,112,040

3,248,077
3,248,077

391,206 - 5,360,116
11,065,246
11,456,452
11,456,452
6,096,336

141

If we meet credit risk for 15 percent, it will affect to decrease our revenue and profit as show in Income statement, Balance sheet and cash flow.
Year 1
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Total revenue

5,628,500
17,580
5,646,080

Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Pre-operating expense
Marketing Expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes 20%
Net Income

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
2,078,393
161,900
73,738
2,532,627
3,113,453 3,113,453 3,113,453 -

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

16,080
16,080

16,080
16,080

494,267
17,580
511,847

494,267
16,080
15,000
525,347

494,267
16,080
15,000
525,347

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
272,254 272,254 272,254 -

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
276,254
276,254
276,254

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
223,513
223,513
223,513

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
233,013
233,013
233,013

3,113,453 - 272,254 - 276,254

156,459
67,054

Dec

Jan

Feb

Mar

Apr

May

Jun

494,267
16,080
15,000
525,347

468,767
21,750
15,000
505,517

468,767
16,080
15,000
499,847

468,767
17,580
15,000
501,347

468,767
16,580
15,000
500,347

468,767
17,580
15,000
501,347

5,628,500
4,320,899
205,130
120,000
10,274,529

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978
73,738
314,716
210,631
210,631
210,631

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
233,013
233,013
233,013

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
217,183
217,183
217,183

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596
73,738
292,334
207,513
207,513
207,513

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596
73,738
288,334
213,013
213,013
213,013

66,000
66,000
640
640
71,005
71,005
48,626
48,626
1,165
1,165
4,800
4,800
4,000
3,000
3,000
7,000
7,000
12,360
12,360
218,596
214,596
73,738
73,738
292,334
288,334
208,013
213,013
2,604,132
208,013 - 2,391,120
383,943
208,013 - 2,775,063

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538
2,078,393
161,900
884,851
5,750,681
4,523,847
2,604,132
1,919,715
383,943
1,535,772

163,109

147,442

163,109

152,028

145,259

149,109

145,609 - 2,775,063

1,075,040

69,904

63,189

69,904

65,155

62,254

63,904

62,404

Jul

End of Period

460,732

142

Balance sheet in case of credit risk for 15 percent in year 1

Mee Sub Market


Balance Sheet
August 1, 2013 - July 31, 2014

Year 1
Asset
Current Asset
Cash
Total current asset

2013
Aug

2013
Sep

2013
Oct

2013
Nov

2013
Dec

2014
Jan

2014
Feb

2014
Mar

2014
Apr

2014
May

2014
Jun

2014
Jul

13,265,584
13,265,584

13,067,067
13,067,067

12,864,551
12,864,551

13,094,747
13,094,747

13,331,594
13,331,594

13,552,773
13,552,773

13,789,619
13,789,619

14,015,385
14,015,385

14,234,381
14,234,381

14,457,227
14,457,227

14,676,574
14,676,574

9,402,468
9,402,468

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
66,224
429,952
7,513
41,250,074

25,000,000
15,893,860
132,449
429,952
15,026
41,176,337

25,000,000
15,893,860
198,673
429,952
22,539
41,102,599

25,000,000
15,893,860
264,898
429,952
30,053
41,028,862

25,000,000
15,893,860
331,122
429,952
37,566
40,955,124

25,000,000
15,893,860
397,347
429,952
45,079
40,881,387

25,000,000
15,893,860
463,571
429,952
52,592
40,807,649

25,000,000
15,893,860
529,795
429,952
60,105
40,733,912

25,000,000
15,893,860
596,020
429,952
67,618
40,660,174

25,000,000
15,893,860
662,244
429,952
75,131
40,586,437

25,000,000
15,893,860
728,469
429,952
82,644
40,512,699

25,000,000
15,893,860
794,693
429,952
90,158
40,438,961

Total asset

54,515,658

54,243,404

53,967,150

54,123,609

54,286,718

54,434,160

54,597,268

54,749,296

54,894,555

55,043,664

55,189,273

49,841,429

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,572,781
40,829,424
8,000,000
3,113,453
54,515,658

2,572,781
40,829,424
8,000,000
2,841,199
54,243,404

2,572,781
40,829,424
8,000,000
2,564,945
53,967,150

2,572,781
40,829,424
8,000,000
2,721,404
54,123,609

2,572,781
40,829,424
8,000,000
2,884,513
54,286,718

2,572,781
40,829,424
8,000,000
3,031,955
54,434,160

2,572,781
40,829,424
8,000,000
3,195,063
54,597,268

2,572,781
40,829,424
8,000,000
3,347,091
54,749,296

2,572,781
40,829,424
8,000,000
3,492,350
54,894,555

2,572,781
40,829,424
8,000,000
3,641,459
55,043,664

2,572,781
40,829,424
8,000,000
3,787,068
55,189,273

40,829,424
8,000,000
1,012,005
49,841,429

143

Cash Flow in case of credit risk for 15 percent in year 1

Mee Sub Market


Statement of Cash Flow
Aug 1, 2013-July 31, 2014

Year 1
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Purchase land
Investment for building
Purchase equipment
Net Cash Flow from investing
Cash Flow from Financing
Payment of debt
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2013
Aug
3,113,453 -

2013
Sep
272,254 -

2013
Oct
276,254

2013
Nov
223,513

2013
Dec
233,013

2014
Jan
210,631

2014
Feb
233,013

2014
Mar
217,183

2014
Apr
207,513

2014
May
213,013

2014
Jun
208,013 -

2014
Jul
2,775,063

73,738
3,187,191 -

73,738
198,516 -

73,738
202,516

73,738
297,250

73,738
306,750

73,738
284,368

73,738
306,750

73,738
290,920

73,738
281,250

73,738
286,750

73,738
281,750 -

73,738
2,701,325

- 25,000,000
- 15,893,860
429,952
- 41,323,812

- 38,136,621 198,516 202,516


51,402,205
13,265,584
13,067,067
13,265,584
13,067,067
12,864,551

67,054 67,054 -

69,904 69,904 -

63,189 63,189 -

69,904 69,904 -

65,155 65,155 -

62,254 62,254 -

63,904 63,904 -

62,404
62,404 -

230,196
12,864,551
13,094,747

236,846
13,094,747
13,331,594

221,179
13,331,594
13,552,773

236,846
13,552,773
13,789,619

225,765
13,789,619
14,015,385

218,996
14,015,385
14,234,381

222,846
14,234,381
14,457,227

2,572,781
2,572,781

219,346 - 5,274,106
14,457,227
14,676,574
14,676,574
9,402,468

144

Income Statement in case of credit risk for 15 percent in year 2


Year 2
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Total

1,272,000
546,542
16,080
15,000
1,849,622

546,542
16,080
15,000
577,622

584,792
16,080
15,000
615,872

584,792
16,080
15,000
615,872

584,792
16,080
15,000
615,872

584,792
16,080
15,000
615,872

584,792
16,080
15,000
615,872

584,792
16,080
15,000
615,872

584,792
16,080
15,000
615,872

584,792
16,080
15,000
615,872

559,292
16,080
15,000
590,372

559,292
16,080
15,000
590,372

1,272,000
6,889,998
192,960
180,000
8,534,958

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
1,557,288
1,557,288
1,557,288
1,090,101
467,186

73,738
288,334
289,288
289,288
289,288
202,501
86,786

73,738
292,334
323,538
323,538
323,538
226,476
97,061

73,738
288,334
327,538
327,538
327,538
229,276
98,261

73,738
292,334
323,538
323,538
323,538
226,476
97,061

73,738
314,716
301,156
301,156
301,156
210,809
90,347

73,738
292,334
323,538
323,538
323,538
226,476
97,061

73,738
288,334
327,538
327,538
327,538
229,276
98,261

73,738
292,334
323,538
323,538
323,538
226,476
97,061

73,738
288,334
327,538
327,538
327,538
229,276
98,261

73,738
73,738
292,334
288,334
298,038
302,038
2,449,765
298,038 - 2,147,728
514,961
298,038 - 2,662,689
208,626 - 2,662,689
89,411

884,851
3,510,388
5,024,570
2,449,765
2,574,804
514,961
2,059,843
1,441,890
617,953

145

Balance sheet in case of credit risk for 15 percent in year 2

Mee Sub Market


Balance Sheet
August 1, 2014 - July 31, 2015

Year 2
Asset
Current Asset
Cash
Total current asset

2014
Aug

2014
Sep

2014
Oct

2014
Nov

2014
Dec

2015
Jan

2015
Feb

2015
Mar

2015
Apr

2015
May

2015
Jun

2015
Jul

10,566,307
10,566,307

10,842,546
10,842,546

11,142,760
11,142,760

11,445,773
11,445,773

11,745,987
11,745,987

12,030,534
12,030,534

12,330,748
12,330,748

12,633,762
12,633,762

12,933,976
12,933,976

13,236,989
13,236,989

13,519,353
13,519,353

8,203,254
8,203,254

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
860,917
429,952
97,671
40,365,224

25,000,000
15,893,860
927,142
429,952
105,184
40,291,486

25,000,000
15,893,860
993,366
429,952
112,697
40,217,749

25,000,000
15,893,860
1,059,591
429,952
120,210
40,144,011

25,000,000
15,893,860
1,125,815
429,952
127,723
40,070,274

25,000,000
15,893,860
1,192,040
429,952
135,236
39,996,536

25,000,000
15,893,860
1,258,264
429,952
142,749
39,922,799

25,000,000
15,893,860
1,324,488
429,952
150,263
39,849,061

25,000,000
15,893,860
1,390,713
429,952
157,776
39,775,323

25,000,000
15,893,860
1,456,937
429,952
165,289
39,701,586

25,000,000
15,893,860
1,523,162
429,952
172,802
39,627,848

25,000,000
15,893,860
1,589,386
429,952
180,315
39,554,111

Total asset

50,931,531

51,134,032

51,360,508

51,589,785

51,816,261

52,027,070

52,253,546

52,482,823

52,709,299

52,938,575

53,147,202

47,757,365

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,727,148
38,102,276
8,000,000
2,102,106
50,931,531

2,727,148
38,102,276
8,000,000
2,304,608
51,134,032

2,727,148
38,102,276
8,000,000
2,531,084
51,360,508

2,727,148
38,102,276
8,000,000
2,760,361
51,589,785

2,727,148
38,102,276
8,000,000
2,986,837
51,816,261

2,727,148
38,102,276
8,000,000
3,197,646
52,027,070

2,727,148
38,102,276
8,000,000
3,424,122
52,253,546

2,727,148
38,102,276
8,000,000
3,653,399
52,482,823

2,727,148
38,102,276
8,000,000
3,879,875
52,709,299

2,727,148
38,102,276
8,000,000
4,109,151
52,938,575

2,727,148 38,102,276 38,102,276


8,000,000
8,000,000
4,317,778
1,655,089
53,147,202 47,757,365

146

Cash Flow in case of credit risk for 15 percent in year 2

Mee Sub Market


Statement of Cash Flow
Aug 1, 2014-July 31, 2015

Year 2
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Net Cash Flow from investing
Cash Flow from Financing
Decrease in loan payable
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2,014.00
Aug
1,557,288

2,014.00
Sep
289,288

2,014.00
Oct
323,538

2,014.00
Nov
327,538

2,014.00
Dec
323,538

2,015.00
Jan
301,156

2,015.00
Feb
323,538

2,015.00
Mar
327,538

2,015.00
Apr
323,538

2,015.00
May
327,538

2,015.00
2,015.00
Jun
Jul
298,038 - 2,662,689

73,738
1,631,025

73,738
363,025

73,738
397,275

73,738
401,275

73,738
397,275

73,738
374,893

73,738
397,275

73,738
401,275

73,738
397,275

73,738
401,275

73,738
73,738
371,775 - 2,588,951

467,186 467,186 1,163,839


9,402,468
10,566,307

86,786 86,786 -

97,061 97,061 -

98,261 98,261 -

97,061 97,061 -

90,347 90,347 -

97,061 97,061 -

98,261 98,261 -

97,061 97,061 -

98,261 98,261 -

- 2,727,148
89,411
89,411 - 2,727,148

276,239
10,566,307
10,842,546

300,214
10,842,546
11,142,760

303,014
11,142,760
11,445,773

300,214
11,445,773
11,745,987

284,547
11,745,987
12,030,534

300,214
12,030,534
12,330,748

303,014
12,330,748
12,633,762

300,214
12,633,762
12,933,976

303,014
12,933,976
13,236,989

282,364 - 5,316,099
13,236,989 13,519,353
13,519,353
8,203,254

147

Income Statement in case of credit risk for 15 percent in year 3


Year 3
Revenue
Revenue from lease
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

End of Period

1,134,500
629,774
17,580
15,000
1,796,854

629,774
16,080
15,000
660,854

668,024
16,080
15,000
699,104

668,024
16,080
15,000
699,104

668,024
17,580
15,000
700,604

668,024
17,580
15,000
700,604

668,024
17,580
15,000
700,604

668,024
16,080
15,000
699,104

668,024
17,580
15,000
700,604

668,024
16,080
15,000
699,104

642,524
16,080
15,000
673,604

642,524
18,030
15,000
28,000
703,554

1,134,500
7,888,782
202,410
180,000
28,000
9,433,692

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
1,504,520
1,504,520
1,504,520
1,053,164
451,356

73,738
288,334
372,520
372,520
372,520
260,764
111,756

73,738
292,334
406,770
406,770
406,770
284,739
122,031

73,738
288,334
410,770
410,770
410,770
287,539
123,231

73,738
292,334
408,270
408,270
408,270
285,789
122,481

73,738
314,716
385,888
385,888
385,888
270,121
115,766

73,738
292,334
408,270
408,270
408,270
285,789
122,481

73,738
288,334
410,770
410,770
410,770
287,539
123,231

73,738
292,334
408,270
408,270
408,270
285,789
122,481

73,738
288,334
410,770
410,770
410,770
287,539
123,231

73,738
73,738
292,334
288,334
381,270
415,220
2,286,137
381,270 - 1,870,917
727,433
381,270 - 2,598,350
266,889 - 2,598,350
114,381

884,851
3,510,388
5,923,304
2,286,137
3,637,167
727,433
2,909,734
2,036,814
872,920

148

Balance sheet in case of credit risk for 15 percent in year 3

Mee Sub Market


Balance Sheet
August 1, 2015 - July 31, 2016

Year 3
Asset
Current Asset
Cash
Total current asset

2015
Aug

2015
Sep

2015
Oct

2015
Nov

2015
Dec

2016
Jan

2016
Feb

2016
Mar

2016
Apr

2016
May

2016
Jun

2016
Jul

9,330,156
9,330,156

9,664,657
9,664,657

10,023,133
10,023,133

10,384,410
10,384,410

10,743,936
10,743,936

11,087,795
11,087,795

11,447,321
11,447,321

11,808,597
11,808,597

12,168,124
12,168,124

12,529,400
12,529,400

12,870,026
12,870,026

7,454,637
7,454,637

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
1,655,611
429,952
187,828
39,480,373

25,000,000
15,893,860
1,721,835
429,952
195,341
39,406,636

25,000,000
15,893,860
1,788,059
429,952
202,855
39,332,898

25,000,000
15,893,860
1,854,284
429,952
210,368
39,259,161

25,000,000
15,893,860
1,920,508
429,952
217,881
39,185,423

25,000,000
15,893,860
1,986,733
429,952
225,394
39,111,686

25,000,000
15,893,860
2,052,957
429,952
232,907
39,037,948

25,000,000
15,893,860
2,119,181
429,952
240,420
38,964,210

25,000,000
15,893,860
2,185,406
429,952
247,933
38,890,473

25,000,000
15,893,860
2,251,630
429,952
255,446
38,816,735

25,000,000
15,893,860
2,317,855
429,952
262,960
38,742,998

25,000,000
15,893,860
2,384,079
429,952
270,473
38,669,260

Total asset

48,810,529

49,071,293

49,356,031

49,643,570

49,929,359

50,199,480

50,485,269

50,772,808

51,058,597

51,346,135

51,613,024

46,123,897

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

2,890,777
35,211,500
8,000,000
2,708,253
48,810,529

2,890,777
35,211,500
8,000,000
2,969,016
49,071,293

2,890,777
35,211,500
8,000,000
3,253,755
49,356,031

2,890,777
35,211,500
8,000,000
3,541,294
49,643,570

2,890,777
35,211,500
8,000,000
3,827,083
49,929,359

2,890,777
35,211,500
8,000,000
4,097,204
50,199,480

2,890,777
35,211,500
8,000,000
4,382,993
50,485,269

2,890,777
35,211,500
8,000,000
4,670,532
50,772,808

2,890,777
35,211,500
8,000,000
4,956,320
51,058,597

2,890,777
35,211,500
8,000,000
5,243,859
51,346,135

2,890,777
35,211,500
8,000,000
5,510,748
51,613,024

35,211,500
8,000,000
2,912,397
46,123,897

149

Cash Flow in case of credit risk for 15 percent in year 3


Mee Sub Market
Statement of Cash Flow
Aug 1, 2015-July 31, 2016

Year 3
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Net Cash Flow from investing
Cash Flow from Financing
Payment of debt
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2015
Aug
1,504,520

2015
Sep
372,520

2015
Oct
406,770

2015
Nov
410,770

2015
Dec
408,270

2015
Jan
385,888

2016
Feb
408,270

2016
Mar
410,770

2016
Apr
408,270

2016
May
410,770

2016
2016
Jun
Jul
381,270 - 2,598,350

73,738
1,578,257

73,738
446,257

73,738
480,507

73,738
484,507

73,738
482,007

73,738
459,625

73,738
482,007

73,738
484,507

73,738
482,007

73,738
484,507

73,738
73,738
455,007 - 2,524,613

451,356 451,356 1,126,901


8,203,254
9,330,156

111,756 111,756 334,501


9,330,156
9,664,657

122,031 122,031 358,476


9,664,657
10,023,133

123,231 123,231 361,276


10,023,133
10,384,410

122,481 122,481 359,526


10,384,410
10,743,936

115,766 115,766 343,859


10,743,936
11,087,795

122,481 122,481 359,526


11,087,795
11,447,321

123,231 123,231 361,276


11,447,321
11,808,597

122,481 122,481 359,526


11,808,597
12,168,124

123,231 123,231 361,276


12,168,124
12,529,400

- 2,890,777
114,381
114,381 - 2,890,777
340,626 - 5,415,389
12,529,400 12,870,026
12,870,026
7,454,637

150

Income Statement in case of credit risk for 15 percent in year 4


Year 4
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue
Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense
Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

End of Period

642,524
17,580
15,000
675,104

642,524
16,080
15,000
673,604

680,774
16,080
15,000
711,854

680,774
16,080
15,000
711,854

680,774
17,580
15,000
713,354

680,774
17,580
15,000
713,354

680,774
17,580
15,000
713,354

680,774
16,080
15,000
711,854

680,774
17,580
15,000
713,354

680,774
16,080
15,000
711,854

655,274
16,080
15,000
686,354

655,274
18,030
15,000
30,000
718,304

8,041,782
202,410
180,000
30,000
8,454,192

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
382,770
382,770
382,770
267,939
114,831

73,738
288,334
385,270
385,270
385,270
269,689
115,581

73,738
292,334
419,520
419,520
419,520
293,664
125,856

73,738
288,334
423,520
423,520
423,520
296,464
127,056

73,738
292,334
421,020
421,020
421,020
294,714
126,306

73,738
314,716
398,638
398,638
398,638
279,046
119,591

73,738
292,334
421,020
421,020
421,020
294,714
126,306

73,738
288,334
423,520
423,520
423,520
296,464
127,056

73,738
292,334
421,020
421,020
421,020
294,714
126,306

73,738
288,334
423,520
423,520
423,520
296,464
127,056

73,738
73,738
292,334
288,334
394,020
429,970
2,112,690
394,020 - 1,682,720
566,223
394,020 - 2,248,943
275,814 - 2,248,943
118,206

884,851
3,510,388
4,943,804
2,112,690
2,831,114
566,223
2,264,891
1,585,424
679,467

151

Balance sheet in case of credit risk for 15 percent in year 4


Mee Sub Market
Balance Sheet
August 1, 2016 - July 31, 2017
2016
Aug

2016
Sep

7,796,313
7,796,313

8,139,739
8,139,739

8,507,141
8,507,141

8,877,342
8,877,342

9,245,793
9,245,793

9,598,577
9,598,577

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
2,450,304
429,952
277,986
38,595,523

25,000,000
15,893,860
2,516,528
429,952
285,499
38,521,785

25,000,000
15,893,860
2,582,752
429,952
293,012
38,448,048

25,000,000
15,893,860
2,648,977
429,952
300,525
38,374,310

25,000,000
15,893,860
2,715,201
429,952
308,038
38,300,572

Total asset

46,391,836

46,661,525

46,955,188

47,251,652

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

3,064,223
32,147,276
8,000,000
3,180,336
46,391,836

3,064,223
32,147,276
8,000,000
3,450,025
46,661,525

3,064,223
32,147,276
8,000,000
3,743,689
46,955,188

3,064,223
32,147,276
8,000,000
4,040,152
47,251,652

Year 4
Asset
Current Asset
Cash
Total current asset

2016
Oct

2016
Nov

2016
Dec

2016
Jan

2017
Feb

2017
Mar

2017
Apr

2017
May

2017
Jun

2017
Jul

9,967,029
9,967,029

10,337,230
10,337,230

10,705,681
10,705,681

11,075,882
11,075,882

11,425,434
11,425,434

6,186,005
6,186,005

25,000,000
15,893,860
2,781,426
429,952
315,551
38,226,835

25,000,000
15,893,860
2,847,650
429,952
323,065
38,153,097

25,000,000
15,893,860
2,913,874
429,952
330,578
38,079,360

25,000,000
15,893,860
2,980,099
429,952
338,091
38,005,622

25,000,000
15,893,860
3,046,323
429,952
345,604
37,931,885

25,000,000
15,893,860
3,112,548
429,952
353,117
37,858,147

25,000,000
15,893,860
3,178,772
429,952
360,630
37,784,410

47,546,366

47,825,412

48,120,126

48,416,590

48,711,303

49,007,767

49,283,581

43,970,415

3,064,223
32,147,276
8,000,000
4,334,866
47,546,366

3,064,223
32,147,276
8,000,000
4,613,913
47,825,412

3,064,223
32,147,276
8,000,000
4,908,626
48,120,126

3,064,223
32,147,276
8,000,000
5,205,090
48,416,590

3,064,223
32,147,276
8,000,000
5,499,804
48,711,303

3,064,223
32,147,276
8,000,000
5,796,267
49,007,767

3,064,223 32,147,276 32,147,276


8,000,000 8,000,000
6,072,081 3,823,138
49,283,581 43,970,415

152

Cash Flow in case of credit risk for 15 percent in year 4


Mee Sub Market
Statement of Cash Flow
Aug 1, 2016-July 31, 2017

Year 4
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Net Cash Flow from investing
Cash Flow from Financing
Payment of debt
Cash dividend
Net Cash Flow from Financing Net change in Cash
Cash at beginning of period
Cash at end of period

2016
Aug
382,770

2016
Sep
385,270

2016
Oct
419,520

2016
Nov
423,520

2016
Dec
421,020

2016
Jan
398,638

2017
Feb
421,020

2017
Mar
423,520

2017
Apr
421,020

2017
May
423,520

2017
2017
Jun
Jul
394,020 - 2,248,943

73,738
456,507

73,738
459,007

73,738
493,257

73,738
497,257

73,738
494,757

73,738
472,375

73,738
494,757

73,738
497,257

73,738
494,757

73,738
497,257

73,738
73,738
467,757 - 2,175,206

114,831 114,831 -

115,581 115,581 -

125,856 125,856 -

127,056 127,056 -

126,306 126,306 -

119,591 119,591 -

126,306 126,306 -

127,056 127,056 -

126,306 126,306 -

127,056 127,056 -

341,676
7,454,637
7,796,313

343,426
7,796,313
8,139,739

367,401
8,139,739
8,507,141

370,201
8,507,141
8,877,342

368,451
8,877,342
9,245,793

352,784
9,245,793
9,598,577

368,451
9,598,577
9,967,029

370,201
9,967,029
10,337,230

368,451
10,337,230
10,705,681

370,201
10,705,681
11,075,882

- 3,064,223
118,206
118,206 - 3,064,223
349,551 - 5,239,429
11,075,882 11,425,434
11,425,434 6,186,005

153

Income Statement in case of credit risk for 15 percent in year 5


Year 5
Revenue
Revenue from renting stall
Revenue from providing toilet
Revenue from ATM area renting
Revenue from area renting
Total revenue

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

655,274
17,580
15,000
687,854

662,320
16,080
15,000
693,400

700,570
16,080
15,000
731,650

700,570
16,080
15,000
731,650

700,570
17,580
15,000
733,150

700,570
17,580
15,000
733,150

700,570
17,580
15,000
733,150

700,570
16,080
15,000
731,650

700,570
17,580
15,000
733,150

700,570
16,080
15,000
731,650

675,070
16,080
15,000
706,150

675,070
18,030
15,000
30,000
738,100

8,272,294
202,410
180,000
30,000
8,684,704

Expense
Administrative expense
Employee salary
Social Security
Sign bord Tax
House and building Tax
Permit of fresh Market establishment
Electricity expense
Water expense
Internet and Telephone expense
Garbrage fees
Solid Waste Expenses
Fire Insurance
Cleaning Fresh Market
Miscellaneous expense
Toxin Assays
Total Administrative expense

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
7,200
9,984
2,000
71,005
48,626
1,165
4,800
7,198
3,000
7,000
12,360
240,978

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

66,000
640
71,005
48,626
1,165
4,800
4,000
3,000
7,000
12,360
218,596

66,000
640
71,005
48,626
1,165
4,800
3,000
7,000
12,360
214,596

792,000
7,680
7,200
9,984
2,000
852,062
583,511
13,983
57,600
24,000
7,198
36,000
84,000
148,320
2,625,538

73,738
292,334
395,520
395,520
395,520
276,864
118,656

73,738
288,334
405,066
405,066
405,066
283,546
121,520

73,738
292,334
439,316
439,316
439,316
307,521
131,795

73,738
288,334
443,316
443,316
443,316
310,321
132,995

73,738
292,334
440,816
440,816
440,816
308,571
132,245

73,738
314,716
418,434
418,434
418,434
292,904
125,530

73,738
292,334
440,816
440,816
440,816
308,571
132,245

73,738
288,334
443,316
443,316
443,316
310,321
132,995

73,738
292,334
440,816
440,816
440,816
308,571
132,245

73,738
288,334
443,316
443,316
443,316
310,321
132,995

73,738
73,738
292,334
288,334
413,816
449,766
1,928,837
413,816 - 1,479,070
649,096
413,816 - 2,128,166
289,671 - 2,128,166
124,145

884,851
3,510,388
5,174,315
1,928,837
3,245,479
649,096
2,596,383
1,817,468
778,915

Depreciation expense
Total expense
EBIT
Interest Expense
Taxable income
Taxes
Net Income

Retain Earning
Dividend 30%

Jul

End of Period

154

Balance sheet in case of credit risk for 15 percent in year 5


Mee Sub Market
Balance Sheet
August 1, 2017 - July 31, 2018

Year 5
Asset
Current Asset
Cash
Total current asset

2017
Aug

2017
Sep

2017
Oct

2017
Nov

2017
Dec

2017
Jan

2018
Feb

2018
Mar

2018
Apr

2018
May

2018
Jun

2018
Jul

6,536,606
6,536,606

6,893,890
6,893,890

7,275,149
7,275,149

7,659,208
7,659,208

8,041,517
8,041,517

8,408,158
8,408,158

8,790,467
8,790,467

9,174,526
9,174,526

9,556,835
9,556,835

9,940,893
9,940,893

10,304,302
10,304,302

5,001,797
5,001,797

Fixed Asset
Land
Building
Accumulated depreciation-Building
Equipment
Accumulated depreciation-Equipment
Total fixed asset

25,000,000
15,893,860
3,244,997
429,952
368,143
37,710,672

25,000,000
15,893,860
3,311,221
429,952
375,657
37,636,935

25,000,000
15,893,860
3,377,445
429,952
383,170
37,563,197

25,000,000
15,893,860
3,443,670
429,952
390,683
37,489,459

25,000,000
15,893,860
3,509,894
429,952
398,196
37,415,722

25,000,000
15,893,860
3,576,119
429,952
405,709
37,341,984

25,000,000
15,893,860
3,642,343
429,952
413,222
37,268,247

25,000,000
15,893,860
3,708,568
429,952
420,735
37,194,509

25,000,000
15,893,860
3,774,792
429,952
428,248
37,120,772

25,000,000
15,893,860
3,841,016
429,952
435,762
37,047,034

25,000,000
15,893,860
3,907,241
429,952
443,275
36,973,297

25,000,000
15,893,860
3,973,465
429,952
450,788
36,899,559

Total asset

44,247,278

44,530,825

44,838,346

45,148,667

45,457,238

45,750,142

46,058,714

46,369,035

46,677,606

46,987,928

47,277,599

41,901,356

Liabilities and Equity


Short-term liabilities
Long-term liabilities
Owner's capital
Retained earning
Total Liabilities and Equity

3,248,077
28,899,200
8,000,000
4,100,002
44,247,278

3,248,077
28,899,200
8,000,000
4,383,548
44,530,825

3,248,077
28,899,200
8,000,000
4,691,069
44,838,346

3,248,077
28,899,200
8,000,000
5,001,391
45,148,667

3,248,077
28,899,200
8,000,000
5,309,962
45,457,238

3,248,077
28,899,200
8,000,000
5,602,866
45,750,142

3,248,077
28,899,200
8,000,000
5,911,437
46,058,714

3,248,077
28,899,200
8,000,000
6,221,759
46,369,035

3,248,077
28,899,200
8,000,000
6,530,330
46,677,606

3,248,077
28,899,200
8,000,000
6,840,651
46,987,928

3,248,077 28,899,200 28,899,200


8,000,000
8,000,000
7,130,322
5,002,156
47,277,599 41,901,356

155

Cash Flow in case of credit risk for 15 percent in year 5


Mee Sub Market
Statement of Cash Flow
Aug 1, 2017-July 31, 2018

Year 5
Net Income
Cash Flow from Operating
Depreciation
Net Cash Flow from Operating
Cash Flow from Investing
Net Cash Flow from investing
Cash Flow from Financing
Payment of debt
Cash dividend
Net Cash Flow from Financing
Net change in Cash
Cash at beginning of period
Cash at end of period

2017
Aug
395,520

2017
Sep
405,066

2017
Oct
439,316

2017
Nov
443,316

2017
Dec
440,816

2018
Jan
418,434

2018
Feb
440,816

2018
Mar
443,316

2018
Apr
440,816

2018
May
443,316

2018
2018
Jun
Jul
413,816 - 2,128,166

73,738
469,257

73,738
478,804

73,738
513,054

73,738
517,054

73,738
514,554

73,738
492,172

73,738
514,554

73,738
517,054

73,738
514,554

73,738
517,054

73,738
73,738
487,554 - 2,054,429

118,656 118,656 -

121,520 121,520 -

131,795 131,795 -

132,995 132,995 -

132,245 132,245 -

125,530 125,530 -

132,245 132,245 -

132,995 132,995 -

132,245 132,245 -

132,995 132,995 -

350,601
6,186,005
6,536,606

357,284
6,536,606
6,893,890

381,259
6,893,890
7,275,149

384,059
7,275,149
7,659,208

382,309
7,659,208
8,041,517

366,642
8,041,517
8,408,158

382,309
8,408,158
8,790,467

384,059
8,790,467
9,174,526

382,309
9,174,526
9,556,835

384,059
9,556,835
9,940,893

- 3,248,077
124,145
124,145 - 3,248,077
363,409 - 5,302,505
9,940,893 10,304,302
10,304,302
5,001,797

156

The policy for reducing risk


According to the risk table shows the percentage of the risk between 5%-15%, which
the number is from hold on credit. As the calculation on financial statement shows the
maximum of 15% risk which the firm can be accepted and still can run the business. From this
situation, the firm can reduce the risk to be less than 15% or equal by setting the policy up; if
the retailer who rents the stall and has not made a payment for 2months (on credit), he/she must
leave the stall at the end of that month but if the retailer has 2 months on credit, and he/she can
make the payment only 1 month (in this case the firm can be accepted).
Risk assessment
Risk assessment is an important process in the risk management. This method is to
considerate the risk factors, In order to assess the opportunity and the effect from that risk. All
risk factors come from both inside and outside the business.

Risk

Probability
1

Operational Risk

Strategic Risk

5
6
4

3
x
x

x
x

Environment Risk
x

Economic Risk

4
x

Credit Risk

Total

Compliance Risk

Competitor Risk

Financial Risk

Social Risk

Effect

8
6
2

From the table, the risks that are the most influence to our business are financial risk
and credit risk. In order to avoid these risks, our company needs to have a good management
team to plan and solve these problems.

Chapter 8
Summary

158

Summary
According to change in economy and society that encourage the expansion of trade,
lead many type of market. For the fresh market, it is the place where people trade the raw
material used in cooking both fresh food and dry food.
In Thailand especially in Chiang Rai province, the fresh market can be found in the
crowed area of the community. This can cause many effect such as environment effect, traffic
jam effect, etc. From the research in Mueng, Chiang Rai, there are many fresh markets which
suffer with the above problems. Due to the increasing number of the population, it leads to an
increasing in the need of food of people.
Moreover, we found that people in Chiang Rai living as a single family and still prepare
the meal in the household. So, the fresh market still is an alternative for people to purchase
goods. It is show that, fresh market business is a good opportunities to make an investment.
Because it is required to meet the customer's need.
Environment Feasibility Analysis summary
Mee Sub Market located in the community area on the bypass. It is close to the
government office, school, university and the airport. The market receives the good support
from the government sector for a facilities and service. From the preliminary survey found that,
there is an increasing of housing estate. It means that in this area will become popular and
crowd community in the future. Mee Sub market will be the first choice of customer to
purchase products.
As mention above, there was a feasible opportunities to make and investment in this
kind of business.
Marketing Feasibility Analysis Summary
At this time, Technology and communication are growing. That's make the marketing
easily to reach the target group. There are the varieties of alternative channels to receive the
information. Mee Sub market will conduct many type of marketing strategy to persuade sellers
and buyers to know and come to shopping in the market.
However, there might have competitors which try to compete with our fresh market.
This case, Mee Sub market will use the marketing strategy by conducting the marketing mix to

159

fight with them. In conclusion, we expected that Mee Sub market will continuous growing and
gain more revenue in several year.
Financial Feasibility Analysis Summary
We plan have an initial capital as 51,402,205 baht that is divided into 2 parts. One part
is capital from owner as 8,000,000 baht. Another part is an investing budget or the cost of this
project that is 43,402,205 baht. The amount of money we loan from the bank with the 6 percent
interest rate. The Payback period is within 12 years.
For revenue from operating, most revenue is from renting stall and it will increase
gradually. Around Year 4 and after that, the revenue is started to stable amount. Our company
has ability to generate profit since Year 1 and increase in next year. Since year 2 we can
generate profit margin around 30-40 percent per year. Moreover, we pay dividend 30% per
month. This is showed that Mee Sub market has a feasible opportunity to invest.
Production and Operation Feasibility Analysis Summary
According to the continuous increasing number of population that causes an increasing
demand in various fields especially in food. Mee Sub market concern on the benefit consumer
will receive and the need of consumer. We create the fresh market follow by the information
from the research. Mee Sub market has 4 zones which are: fresh food, dried food, food court
and miscellaneous. About the location and logistics management, Mee Sub market located in
the wide open area on the bypass. We provide the widely parking space, the entrance and exist
way in order to be convenience for both sellers and buyers.
Business Risk Feasibility Analysis Summary
We considered on any risk which might occur and identify into 2 categories: internal
risk and external risk. For internal risk, it is the risk that might occur in the process of doing the
business. This kind of risk includes financial risk, strategic risk, operating risk, compliance risk
and credit risk. For external risk, it is include economic risk, environment risk and competitor
risk. This type of risk is out of our control. But in both external and internal risk, Mee Sub
market already created a plan and set the way to solve and reduce those risks. The plans to deal
with those risks such as policy to buy the insurance, a financial plan and forecasting the
financial situation for the future, change the strategic plan etc

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