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Page 1
Table of Contents
Page 2
Premier Airport Transportation Service
Cleveland currently has four limousine service providers and four taxi services. In addition to
these transportation options, Cleveland also has short and long-term airport parking and a
rapid transit public train system providing airport service. Premier Airport Transportation
Service will span the gap between the mediocre taxi service and the high-priced limousine
service. By having a middle price point, PATS will be especially attractive to both families and
business travelers. The service will appeal to families as a reasonable and convenient
alternative to them driving and parking at the airport. Business travelers who require a more
deluxe solution relative to taxis but do not have such a debilitating effect on the company's
travel budget will embrace Premier Airport Transportation. These two market segments are
growing on average at 8.5% per year and there are over a million potential customers.
PATS recognizes that their key to success will be providing unmatched customer service.
Premier has infused the importance of customer service into the drivers' jobs by offering
financial incentives to the drivers for superior service. This will ensure that the best customer
service will be offered at every level and interaction with the company.
Management Team
Premier Airport Transportation Service was founded and is run by Sam Brougham. Sam began
his transportation career as a taxi driver, a source of income to put Sam through school. After
school, Sam worked at the Yellow Freight Company, initially in the logistics department. Sam
then moved on to Yellow's customer service department, ultimately having managerial
responsibility over Yellow's customer care call center. Sam's logistics and customer service
experience will be essential to the success of PATS. The logistics experience will provide Premier
with hyper-efficient operations and the customer service experience will support their
competitive edge.
Premier Airport Transportation will fulfill Cleveland's unmet need for a reasonably priced, high
service level airport transportation service. PATS will achieve break-even status by month eight
and will double sales of year one by year three. While PATS will incur a loss for year one, they
will generate a tidy net profit for year three.
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Premier Airport Transportation Service
Chart: Highlights
1.1 Objectives
1.2 Mission
The Mission of Premier Airport Transportation Service is to provide the customer the finest
airport transportation service available. We exist to attract and maintain customers. When we
adhere to this maxim, everything else will fall in to place. Our services will exceed the
expectations of our customers.
Sam Brougham will be working full time as the dispatcher and back office person. Sam will
have four employees.
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Premier Airport Transportation Service
PATS' start-up costs will include all the equipment needed for the home-based office, legal fees,
website creation, and start-up advertising.
The office equipment will be the largest chunk of the start-up expenses. This equipment
includes a computer system, fax machine, office supplies. The computer should have at least a
500 megahertz Celeron/ Pentium processor, 64 megabytes of RAM (preferably 128), 6 gigabyte
hard drive, and a rewritable CD- ROM for backing up the system. A DSL line will need to be set
up as well. PATS will also need some Nextel phones. The advantage of the Nextel phones is it
allows two way communication from the base to the cars over cellular frequencies but at a
drastically reduced rate.
The office will need some furniture such as a desk, file cabinets. The legal fees are used for the
formation of the business as well as for reviewing/generating standard client contracts.
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal $1,000
Stationery etc. $125
Brochures $400
Office equipment $500
Website creation $500
Other $0
Total Start-up Expenses $2,525
Start-up Assets
Cash Required $30,975
Other Current Assets $0
Long-term Assets $1,500
Total Assets $32,475
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Premier Airport Transportation Service
Assets
Non-cash Assets from Start-up $1,500
Cash Requirements from Start-up $30,975
Additional Cash Raised $0
Cash Balance on Starting Date $30,975
Total Assets $32,475
Liabilities
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Capital
Planned Investment
Investor 1 $35,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $35,000
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Premier Airport Transportation Service
Chart: Start-up
3.0 Services
PATS provides an airport transportation solution for the Cleveland metropolitan area. PATS can
provide airport travel on short notice if cars are available, but they generally work with a
reservation system. A customer would call up in advance and provide PATS with flight
information. PATS would schedule the pick up time and then call and send an email to confirm
the pickup. For pick up at the airport, PATS would meet the customer outside of baggage claim
after the customer has picked up their luggage and would drive them home.
PATS will be focusing on families as well as business travelers. Both groups will likely demand
PATS services. The families will utilize our service because it is convenient and less expensive
than if they drove themselves and paid for long-term parking of their car. Business travelers
will use our service because it offers a limousine-like service (other than the fact that PATS
does not use limousines) where the traveler has a ride waiting for them when their planes
comes in, but the service is less expensive than normal limousine services. Since the service is
fairly comparable to a louisine service, companies will encourage their workers to utilize PATS
as a cost saving measure, particularly in this economic downturn. Currently there are four
limousine services in Cleveland and four taxi-type service providers.
Our customers can be divided into two groups: families/individuals on pleasure trips, and
business travelers.
The first group is taking a trip for pleasure and will either be an individual or a family. Their
choices are to either drive and park in long term parking, take a taxi, or use a limousine
service. This group does not typically mind paying a bit more for a solution that takes care of
their transportation to and from the airport. Since they are are on vacation, they appreciate
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Premier Airport Transportation Service
having a service that gets them to the airport in a seamless way so they do not have to worry
about anything. All they have to do is make the reservation and show up at the arranged
pickup point.
The second group is the business traveler. In the past a company would typically hire a
limousine service to pick up their worker. The company would always pay for the service. With
PATS as an alternative, there is a transportation service that functions like a limousine (you can
preschedule pickup dates and be taken directly home or to the airport) but without the overly
fancy car and the associated high price. As companies are always looking at ways to cut
costs, PATS offers a very reasonable solution in terms of comfort and cost. The business
traveler will not notice anything different with PATS versus a limo service other than the vehicle
they are traveling won't be a limo, but will still be a sufficiently large and comfortable car.
Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Individual/families 9% 578,000 630,020 686,722 748,527 815,894 9.00%
Business travelers 8% 425,000 459,000 495,720 535,378 578,208 8.00%
Total 8.58% 1,003,000 1,089,020 1,182,442 1,283,905 1,394,102 8.58%
PATS will be targeting these two groups because they consistently travel, and PATS solution
makes traveling easy for them. While a slow economy has some effect on travel. In general
Americans tend to travel more each year, this trend beginning in the early 1980s. These groups
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Premier Airport Transportation Service
are particularly attractive to PATS because they will always need to get to the airport and they
are willing to pay a bit extra for the luxury of having someone take them there instead of being
required to get themselves there. Please note, however, PATS is only slightly more expensive
for trips under four days; over four days it is more cost effective to use PATS. Compared to
driving a personal vehicle and paying for long-term parking.
In regard to the business customers, it is generally accepted practice for the company to
provide the transportation for their employees. For trips over four days, there is no question
that PATS is more cost effective. Under four days PATS service is slightly more expensive than
driving oneself and parking, however, companies are more than willing to pay a bit extra as
their employee is giving up a decent amount of their free time to go on the trip for work and
the business recognizes and appreciates this. Of course for the companies already willing to pay
limousine prices, PATS will appear as a way of reducing travel costs with no appreciable loss in
service quality.
1. Public transportation: RTA provides rapid transit service to the airport. While this is an
inexpensive alternative there are several disadvantages. The service does not run all hours
of the night. RTA also forces travelers to change trains downtown to pick up the airport line.
The rapid transit also requires travelers to manage all of their luggage which can be quite
chore from some that are not skilled in the art of packing or are traveling for a real long
time.
2. Taxi service: Taxis do provide service to and from the airport, however, travelers cannot
book the trip in advance, forcing them to call right before they want to travel. The level of
service is inconsistent from taxi service to taxi service as well as from occasion to occasion.
Taxis can also be quite expensive if city dwellers are going out to the suburbs.
3. Airport parking: Airport parking can be cost effective if it is for fewer than four days.
Driving oneself has the advantage of not having to deal with anyone else, the flip side to
this however is they must do everything for themselves. Lastly, there is always the risk of
damage to their car when it is parked and all airport parking facilities have drivers sign a
waiver absolving the lot from responsibility if anything happens to the car.
4. Shuttle service: This option packs a few different people into a van and takes them to the
airport. This is a less expensive option, however, it takes longer to make the commute due
to the other customers that are traveling Additionally, travelers lose out on the personalized
service relative to PATS or a limousine service.
The buying patterns of these services vary based on the length of the trip, who is paying for it,
and if it is a last minute or planned in advance trip. The longer the trip, the more economical a
transportation option is relative to airport parking. A large percentage of business travelers use
an upscale airport transportation solution like PATS or a limousine service for their employees.
People who are just scraping by to go on vacation are likely to choose the least costly option,
public transportation. Lastly, if the trip is planned at the last minute, taxi service might be the
only option however, PATS will offer last minute rides if cars are available.
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Premier Airport Transportation Service
PATS' marketing/sales strategy will be two pronged, one to address each of our two segmented
targeted groups:
2. Business travelers: PATS will be contacting the travel department of many of the different
companies in Cleveland that have a lot of employees traveling and informing them about
our service and offering them an introductory discount. This will be an important segment to
win over as companies routinely have employees traveling throughout the year. Businesses
are also valuable because once the initial contact is made, the relationship can be turned
into a steady stream of business.
PATS' competitive advantage will be based on an incentive system that rewards the driver
economically when they achieve good service, develop repeat customers and act in a team
fashion instead of competing against other company drivers. This incentive system will reward
drivers when:
1. The company receives positive feedback about the driver (a feedback system will be set
up).
2. The customer is turned into a repeat customer.
3. The driver develops new customers.
4. The driver acts in manners that are team based instead of for individual gain.
Through this complicated but purposeful system, PATS is incentivizing behavior that they
believe will help the company succeed, while not rewarding behavior that is destructive to the
company.
Additionally, PATS will be having the drivers lease the cars through PATS for several reasons:
1. With PATS leasing the cars, they are able to get a volume discount for the leases. PATS will
actually be passing on the costs to the drivers.
2. Leasing through PATS encourages a long term employee as there are fees to break a lease
and PATS includes provisions in the lease that do not allow drivers to use the cars for more
than two months beyond termination of employment.
3. By having the drivers lease the cars, they have an economic incentive to maintain the cars
as they are financial responsible for damage beyond reasonable wear and tear.
As stated earlier, we will be going after both families/individuals as well as business travelers.
PATS will have a different strategy for each group. For the individuals, PATS will use contacts
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Premier Airport Transportation Service
through membership associations and clubs to build customers. Customers that are a part of an
association tend to put more trust in a service provider when the service provider is aligned
with the association. PATS will offer a discount for the association members to try to build up a
following. Our selling spiel will be total convenience at a cost that is competitive with the price
that they currently pay when they leave their car in the parking lot. Offering the ability to
schedule in advance pick up from home and then pick up from airport should be a big selling
point. People like convenience, and people are willing to pay for conveniences. One phone call
to arrange all of your transport needs to the airport is quite a convenience.
Our strategy of wooing the business travelers will be a campaign to introduce PATS to the
different travel departments of the larger companies in the area. The initial contact will be a
letter/brochure describing our services along with a pricing guide. PATS will then follow that up
with a phone call to try to receive a commitment from the company. By including the pricing
information within the brochure, PATS believes that this will catch the eyes of the companies'
travel departments as they are acutely aware of the costs that they are paying now and PATS
believes that they can convert the lead into a customer by offering essentially the same service
of a limo company at a reduced rate.
The first month will be spent setting up the business. It is unlikely that everything will be ready
to go so that we could begin to take fares. By month two the business office will be in order,
brochures will have been sent out and PATS will have been working with associations to create
visibility for the company. PATS will have two drivers and will be paying a base monthly wage
on the assumption that PATS wants to have the drivers ready when fares come up but there is
not likely to be enough fares to support the wages of the two drivers.
Month three will see an increase in fares and things will be getting busy. Business will continue
to grow and by month five a third driver will be brought on board. It will not be until month 11
that a fourth and final driver will be brought on board.
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Premier Airport Transportation Service
Sales Forecast
Year 1 Year 2 Year 3
Sales
Individuals/families $94,061 $145,885 $169,874
Business travelers $74,763 $136,874 $149,874
Total Sales $168,824 $282,759 $319,748
5.3 Milestones
1. Business plan completion. This will be done as a road map for the organization. While we do
not need a business plan to raise capital, it will be an indispensable tool for the ongoing
performance and improvement of the company.
2. Set up office.
3. Profitability.
4. Bringing on board the fourth driver.
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Premier Airport Transportation Service
Table: Milestones
Milestones
Premier Airport Transportation Service is owned and operated by Sam Brougham. Sam will be
incorporating in Ohio. Sam has a degree in business and mathematics from Case Western
Reserve University. While at Case, Sam worked as a taxi driver to cover expenses for his
education. Upon graduation, Sam went to work for Yellow Freight Company as a manager for
the Logistics Department. In this position, Sam was responsible for devising systems that
utilized Yellow's truck fleet to its maximum capacity. After developing systems for the efficient
use of the equipment, Sam applied and was accepted to transfer over to the customer service
department. Same felt that he did not have sufficient "people" skills and was determined to
develop these skills. For three years Sam worked in the department, eventually being promoted
to leader of a call center group.
Once Sam had developed the skills that he deemed necessary to run his own business, he left
Yellow and decided to open up his own transportation business. The logistic skills coupled with
an outstanding ability to communicate with others provides Sam with the necessary foundation
to run PATS.
The staff will consist of Sam working full time in the back office. Sam will be responsible for
setting up the appointments as well as the marketing to develop customers. By month two,
Sam will be bringing on board a part-time employee to help him out in answering the phones
and setting up appointments for fares. Month two will also bring two drivers to PATS. The head
count will remain the same until month five when a third driver will be brought on board.
Lastly, month 11 will see a fourth driver brought on board.
Table: Personnel
Personnel Plan
Year 1 Year 2 Year 3
Sam $36,000 $36,000 $36,000
Part-time employee $16,500 $16,500 $16,500
Driver $20,600 $21,600 $21,600
Driver $20,600 $21,600 $21,600
Driver $14,400 $21,600 $21,600
Driver $3,600 $21,600 $21,600
Total People 6 6 6
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Premier Airport Transportation Service
The following table highlights some of the important financial assumptions for PATS.
General Assumptions
Year 1 Year 2 Year 3
Plan Month 1 2 3
Current Interest Rate 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00%
Tax Rate 25.42% 25.00% 25.42%
Other 0 0 0
The Break-even Analysis indicates what PATS must have in averaged monthly revenue to break
even.
Break-even Analysis
Assumptions:
Average Percent Variable Cost 20%
Estimated Monthly Fixed Cost $12,105
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Premier Airport Transportation Service
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Premier Airport Transportation Service
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Premier Airport Transportation Service
Expenses
Payroll $111,700 $138,900 $138,900
Sales and Marketing and Other Expenses $3,100 $3,600 $3,600
Depreciation $504 $498 $498
Web site maintenance $600 $600 $600
Utilities $1,200 $1,200 $1,200
Insurance $5,400 $5,400 $5,400
Rent $6,000 $0 $0
Payroll Taxes $16,755 $20,835 $20,835
Other $0 $0 $0
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Premier Airport Transportation Service
The following chart and table display the projected cash flow.
Chart: Cash
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Premier Airport Transportation Service
Current Assets
Cash $30,206 $71,540 $136,504
Other Current Assets $0 $0 $0
Total Current Assets $30,206 $71,540 $136,504
Long-term Assets
Long-term Assets $1,500 $1,500 $1,500
Accumulated Depreciation $504 $1,002 $1,500
Total Long-term Assets $996 $498 $0
Total Assets $31,202 $72,038 $136,504
Current Liabilities
Accounts Payable $8,927 $8,382 $9,627
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $8,927 $8,382 $9,627
Long-term Liabilities $0 $0 $0
Total Liabilities $8,927 $8,382 $9,627
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Premier Airport Transportation Service
The business ratios table below is generated by the planning software using the interconnected
tables. Standard industry ratios, based upon Standard Industrial Classification Code (SIC)
4111, Local and Suburban Transit, are shown for comparison.
Table: Ratios
Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth n.a. 67.49% 13.08% 3.70%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 80.00% 80.00% 80.00% 66.70%
Selling, General & Administrative Expenses 86.04% 65.37% 60.12% 46.50%
Advertising Expenses 0.36% 0.21% 0.19% 0.50%
Profit Before Interest and Taxes -6.04% 19.51% 26.51% 2.90%
Main Ratios
Current 3.38 8.53 14.18 1.61
Quick 3.38 8.53 14.18 1.17
Total Debt to Total Assets 28.61% 11.64% 7.05% 56.40%
Pre-tax Return on Net Worth -45.79% 86.68% 66.81% 4.60%
Pre-tax Return on Assets -32.69% 76.59% 62.10% 10.50%
Activity Ratios
Accounts Payable Turnover 7.49 12.17 12.17 n.a
Payment Days 27 31 28 n.a
Total Asset Turnover 5.41 3.93 2.34 n.a
Debt Ratios
Debt to Net Worth 0.40 0.13 0.08 n.a
Current Liab. to Liab. 1.00 1.00 1.00 n.a
Liquidity Ratios
Net Working Capital $21,279 $63,158 $126,877 n.a
Interest Coverage 0.00 0.00 0.00 n.a
Additional Ratios
Assets to Sales 0.18 0.25 0.43 n.a
Current Debt/Total Assets 29% 12% 7% n.a
Acid Test 3.38 8.53 14.18 n.a
Sales/Net Worth 7.58 4.44 2.52 n.a
Dividend Payout 0.00 0.00 0.00 n.a
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Premier Airport Transportation Service
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Appendix
Sales Forecast
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales
Individuals/families 0% $0 $1,578 $1,874 $3,958 $6,645 $7,345 $8,287 $9,258 $9,985 $12,455 $14,822 $17,854
Business travelers 0% $0 $1,114 $1,358 $3,225 $4,754 $5,514 $6,958 $8,125 $9,125 $10,458 $11,587 $12,545
Total Sales $0 $2,692 $3,232 $7,183 $11,399 $12,859 $15,245 $17,383 $19,110 $22,913 $26,409 $30,399
Direct Cost of Sales Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Individuals/families $0 $316 $375 $792 $1,329 $1,469 $1,657 $1,852 $1,997 $2,491 $2,964 $3,571
Business travelers $0 $223 $272 $645 $951 $1,103 $1,392 $1,625 $1,825 $2,092 $2,317 $2,509
Subtotal Direct Cost of Sales $0 $538 $646 $1,437 $2,280 $2,572 $3,049 $3,477 $3,822 $4,583 $5,282 $6,080
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Appendix
Table: Personnel
Personnel Plan
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sam 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Part-time employee 0% $0 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Driver 0% $0 $2,200 $2,200 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Driver 0% $0 $2,200 $2,200 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Driver 0% $0 $0 $0 $0 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Driver 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,800 $1,800
Total People 1 4 4 4 5 5 5 5 5 5 6 6
Total Payroll $3,000 $8,900 $8,900 $8,100 $9,900 $9,900 $9,900 $9,900 $9,900 $9,900 $11,700 $11,700
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Appendix
General Assumptions
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Tax Rate 30.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Other 0 0 0 0 0 0 0 0 0 0 0 0
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Appendix
Gross Margin $0 $2,154 $2,586 $5,746 $9,119 $10,287 $12,196 $13,906 $15,288 $18,330 $21,127 $24,319
Gross Margin % 0.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00%
Expenses
Payroll $3,000 $8,900 $8,900 $8,100 $9,900 $9,900 $9,900 $9,900 $9,900 $9,900 $11,700 $11,700
Sales and Marketing and Other $150 $175 $200 $225 $250 $300 $300 $300 $300 $300 $300 $300
Expenses
Depreciation $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42
Web site maintenance $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50
Utilities $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Insurance $450 $450 $450 $450 $450 $450 $450 $450 $450 $450 $450 $450
Rent $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Payroll Taxes 15% $450 $1,335 $1,335 $1,215 $1,485 $1,485 $1,485 $1,485 $1,485 $1,485 $1,755 $1,755
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $4,742 $11,552 $11,577 $10,682 $12,777 $12,827 $12,827 $12,827 $12,827 $12,827 $14,897 $14,897
Profit Before Interest and Taxes ($4,742) ($9,398) ($8,991) ($4,936) ($3,658) ($2,540) ($631) $1,079 $2,461 $5,503 $6,230 $9,422
EBITDA ($4,700) ($9,356) ($8,949) ($4,894) ($3,616) ($2,498) ($589) $1,121 $2,503 $5,545 $6,272 $9,464
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($4,742) ($9,398) ($8,991) ($4,936) ($3,658) ($2,540) ($631) $1,079 $2,461 $5,503 $6,230 $9,422
Net Profit/Sales 0.00% -349.12% -278.20% -68.71% -32.09% -19.75% -4.14% 6.21% 12.88% 24.02% 23.59% 31.00%
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Appendix
Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Net Cash Flow ($3,057) ($7,956) ($8,821) ($4,222) ($2,516) ($2,167) ($128) $1,535 $2,837 $6,281 $7,209 $10,236
Cash Balance $27,918 $19,962 $11,141 $6,920 $4,404 $2,237 $2,109 $3,644 $6,481 $12,761 $19,971 $30,206
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Appendix
Current Assets
Cash $30,975 $27,918 $19,962 $11,141 $6,920 $4,404 $2,237 $2,109 $3,644 $6,481 $12,761 $19,971 $30,206
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $30,975 $27,918 $19,962 $11,141 $6,920 $4,404 $2,237 $2,109 $3,644 $6,481 $12,761 $19,971 $30,206
Long-term Assets
Long-term Assets $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Accumulated Depreciation $0 $42 $84 $126 $168 $210 $252 $294 $336 $378 $420 $462 $504
Total Long-term Assets $1,500 $1,458 $1,416 $1,374 $1,332 $1,290 $1,248 $1,206 $1,164 $1,122 $1,080 $1,038 $996
Total Assets $32,475 $29,376 $21,378 $12,515 $8,252 $5,694 $3,485 $3,315 $4,808 $7,603 $13,841 $21,009 $31,202
Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Current Liabilities
Accounts Payable $0 $1,643 $3,043 $3,172 $3,844 $4,944 $5,275 $5,736 $6,150 $6,483 $7,219 $8,156 $8,927
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $0 $1,643 $3,043 $3,172 $3,844 $4,944 $5,275 $5,736 $6,150 $6,483 $7,219 $8,156 $8,927
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $1,643 $3,043 $3,172 $3,844 $4,944 $5,275 $5,736 $6,150 $6,483 $7,219 $8,156 $8,927
Paid-in Capital $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000
Retained Earnings ($2,525) ($2,525) ($2,525) ($2,525) ($2,525) ($2,525) ($2,525) ($2,525) ($2,525) ($2,525) ($2,525) ($2,525) ($2,525)
Earnings $0 ($4,742) ($14,140) ($23,132) ($28,067) ($31,725) ($34,265) ($34,896) ($33,817) ($31,356) ($25,852) ($19,622) ($10,200)
Total Capital $32,475 $27,733 $18,335 $9,343 $4,408 $750 ($1,790) ($2,421) ($1,342) $1,119 $6,623 $12,853 $22,275
Total Liabilities and Capital $32,475 $29,376 $21,378 $12,515 $8,252 $5,694 $3,485 $3,315 $4,808 $7,603 $13,841 $21,009 $31,202
Net Worth $32,475 $27,733 $18,335 $9,343 $4,408 $750 ($1,790) ($2,421) ($1,342) $1,119 $6,623 $12,853 $22,275
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