Beruflich Dokumente
Kultur Dokumente
Salvador's is a manufacturer of authentic Hispanic foods including salsa and chips. Their products are positioned at the high end of the market in terms of both quality and price. Salvador's has been in business now for three years and has grown in popularity. What was once a business targeting solely the Hispanic community has grown into a business that has far broader appeal. Salvador's has several objectives that they will achieve within the next three years. The first is an increase in sales reaching two million dollars by Year 5. Salvador's also would like gross margins to be above 55%. Salvador's also hopes to have 40 different outlets that will distribute their product. Lastly, they aim to become known as the premier authentic Hispanic food producer in the area with an ever-expanding geographic distribution area. Currently, Salvador's has two main line of products. Their flagship product is their salsa, renowned for its freshness, uniqueness, and quality ingredients. Originally introduced in one temperature, hot, the market demand has asked for milder temperatures and Salvador's has responded with both a medium and mild version. To compliment their salsa, Salvador's offers fresh chips in both yellow and blue corn. Salvador's has targeted three main customer groups to sell their products to. The first group is grocery stores. The grocery stores will be then sell directly to the end consumer. This segment is growing at 75% and there currently are 53 potential customers. The second group is wholesale distributors. This segment has a 100% growth rate with 5 potential distributors. The last customer segment is restaurants which have a 45% growth rate. There are 18 potential restaurant customers. As mentioned before, Salvador's originally targeted the Hispanic community. The market has indicated that their products have broader appeal and Salvador's has recognized this and acted accordingly. The Hispanic community was initially targeted because of its exciting growth rate. The community has been growing at 22% a year, almost double the average of the overall US population. While there are many competitors at the mid price point, both regional and national, there are few direct competitors at Salvador's high price point. This is quite advantageous for Salvador's, providing them with additional breathing room to establish themselves as the premier brand of authentic Hispanic food. Salvador's strong management team of Ricardo and Pat Torres will ensure sustainable growth for Salvador's. Pat is the President and has 12 years of food industry experience. The previous five years was as manager of a four store Tex-Mex restaurant chain. This provided Pat with incredible insight and industry knowledge that reinforced the idea to start a business from scratch. Ricardo brings Salvador's over six years of financial control experience that was gained as a CPA with Arthur Andersen. Salvador's management team, due to its seasoned strength will help Salvador's achieve the dream of being the premier Hispanic food manufacturer. Salvador's has begun to reach profitability and forecasts a modest net profit in three years. The commensurate modest profit margin will be achieved from sales. The financials within the plan further reinforce the exciting nature of this business.
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1.1 Objectives
1. 2. 3. 4. Increase sales significantly over the next three years. Improve gross margin % over the current product line and maintain that level. Add products and services to meet market demand, again at high gross margin. Improve inventory turnover, reduce the cost of goods sold while maintaining the high quality of the products. 5. To provide jobs to the Hispanic community that are rewarding and fulfilling.
1.2 Mission
Salvador's was built on offering the highest quality and value in its authentic hot salsa, filled with the history of the Hispanic community. Time honored family recipes have been passed down through the generations, rich with ethnic heritage. Knowledgeable consumers were looking for authentic products, filled with the best ingredients. The consumer was crying out for a change! They wanted real down home Hispanic salsa. Salvador's answered this call, first with its hot salsa, then adding mild and extra hot salsa, followed by yellow and blue corn chips. Constantly striving to supply what the consumer is asking for, we continually review what is available in the marketplace, and what isn't. Improving on what is available and providing new products and services to the areas of need will assure our success in a market driven by consumer demand.
1. Delivering high quality products that set themselves apart from the others in taste and value. 2. Providing service, support, and a better than average margin to our dealers. 3. Increase gross margin %. 4. Bring new products into the mix to increase sales volume.
Company Summary
Salvador's is in its third year of operation, increasing sales five-fold in its second year, and is on track to repeat this in its third year. It has a good reputation, excellent people, an increasing position in the local market, and opportunities to reach out into other states. Starting with a few outlets for our products, we now have over 40, with two large grocery chains in the approval process of carrying our full line of products, and a large distributor intending to sell over $100,000 worth of our products annually.
See enclosed copies of letters from Moctezuma Foods, Inc., Meijer, Inc., and others.
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Past Performance 1993 Sales Gross Margin Gross Margin % Operating Expenses Collection Period (days) Inventory Turnover Balance Sheet Current Assets Cash Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Current Liabilities Accounts Payable Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 $0 0.00 $126 $0 $3,492 $0 $3,618 $23,368 $9,792 $13,576 $17,194 $0 $16,207 $0 $16,207 $0 $16,207 $25,000 ($9,755) ($14,258) $987 $17,194 0 $0 0.00 $0 $0 0.00% $0 0 0.00 1993 1994 $4,224 $2,451 58.03% $12,028 0 6.00 1994 1995 $21,050 $14,160 67.27% $20,719 0 5.00 1995
Other Current Liabilities (interest free) $0 Total Current Liabilities $0 Long-term Liabilities $0 Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Capital and Liabilities Other Inputs Payment Days Sales on Credit Receivables Turnover $0 $0 $0 $0 $0 $0 0 $0 0.00
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Products
Salvador's sells its authentic Hispanic salsa and chips to an ever-growing clientele. Originally geared toward the local Hispanic community, the market has expanded to include a much larger geographical area, in addition to a very broad consumer response. We are selling quality and product-uniqueness in a market segment filled with competition. Our approach is to take our product image up-market because or our rich heritage and uncompromising view of product quality. This focus has enabled us to view the voids in the market, and add product to our line that will fill it. We have researched and reviewed other ethnic food item organizations, tracking their successes and positioning ourselves similarly. Salvador's is building a reputation for high quality and strong value in a product filled with authentic Hispanic flavor. We service our dealers just as if they were a part of the family and that is our unique approach to marketing our products. You are not just a dealer; not just a consumer; you are special to us - you are family. We go to great lengths to provide our dealers with high quality products, and the ability to make a good margin on them. In addition, we make ourselves available for on-site demonstrations of the product at no charge to them. We hope to continue offering this service, but at a minimal cost to lower our expenses in the future.
Our original product, Salsa, was available only in a hot flavor. Because of consumer demand, we have added extra hot and mild flavors. Chips, both yellow corn and blue corn.
To differentiate ourselves from all of the others, we stress quality and authenticity of the ingredients, and the heritage of the family recipe. We sell more than a jar with salsa in it. We sell high quality ingredients, carefully put together in a masterful blend that can't be matched in taste or true Hispanic authenticity. These are simple products that must be presented in a way that encourages the consumer to just give us a chance. Once they try our product, we will have a long-term relationship with them. As in similar food items, we can charge a premium for what we supply. The market has shown it will buy our product over more readily known names because of the richness and authentic taste of our salsa.
3.4 Sourcing
Our costs are a part of the margin squeeze. As our orders go up, we need to increase our production in a way that also increases our margin. We have found a local supplier that can reduce our costs by handling much larger batches of salsa than we are currently able, yet maintain our high quality. This will reduce our costs over 32% per jar in the production of our salsa. We need to continue to find additional opportunities that will afford us lower costs of production while maintaining the quality that has put us on the map. Our outsourcing for the corn chips has shown we can contract for a high quality product that we will be able to put our name on, and meet our goals for gross-profit margin.
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Market Analysis 1996 Potential Customers Grocery Stores Distributors Restaurants Other Total Growth 75% 100% 45% 53 5 18 93 10 26 11 140 163 20 38 12 233 285 40 55 13 393 499 80 80 15 674 1997 1998 1999 2000 CAGR 75.17% 100.00% 45.20% 10.67% 67.32%
12% 10 67.32% 86
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they buy. By not trying to compete head on, we are selling our product consistently and increasingly. With entrance into some of the larger grocery chains we will broaden our audience considerably.
We are focusing on the consumer first through grocery exposure, and then impacting them through restaurants and other food places.
IGA (Delta) Kazmaiers Kirwen's (Gibsonburg) K.O.A. Campground (Stoney Ridge) La Bottelia (Detroit) LaColmena (Detroit) LaMexicana (Toledo) LaPeria (Toledo) Luna Bakery & Grocery (Detroit) Mad Anthony's (Waterville) Markada (Ann Arbor) Moser's Farm Market (Perrysburg) Ohlman's Farm Market (Toledo) Ottawa Market (Toledo) Partners in Wine II (Ann Arbor) Pauken Wine & Liquor (Maumee) Schorlings (Toledo) South Point Carryout (Toledo) Stephen's Restaurant (Perrysburg) Vernor Foods (Detroit) Wolfert's (Toledo)
Meijer, Inc. Foodtown, Inc. Kroger's Moctezuma Foods, Inc. IGA (various) Churchill's Ohlman's
To this means, we are currently interviewing distributors to assist us with the marketing and distribution of our salsa. Again, the hiring of a distributor, and a modest performance increase on their efforts for Salvador's would make our sales projections conservative. Key to the sale and distribution of our products through this channel is the constant care and feeding of the buyers for each of the organizations. Sales calls on a regular basis, along with samples of new product, will keep the doors open to us.
forecast does assume a downturn in the product within a three-year period, and the lower figures are a reflection of that forecast. We would be happy if it didn't falter.
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Sales Forecast 1996 Sales All Products Other Total Sales Direct Cost of Sales All Products Other Subtotal Direct Cost of Sales $168,602 $217,320 $312,052 $0 $0 $0 $168,602 $217,320 $312,052 1996 1997 1998 $64,916 $0 $64,916 $86,928 $0 $86,928 $124,821 $0 $124,821 1997 1998
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5.4 Milestones
The following table lists important program milestones, with dates and budgets for each. The milestone schedule indicates our emphasis on planning and for having a sure method of implementation when the time comes for each action.
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Milestones Milestone SBA Loan Hirzel Contract First Employee Store Front/Warehouse Second Employee New Product Development Marketing Development
End Date 11/1/1996 6/15/1997 1/10/1997 3/1/1997 5/1/1997 12/1/1997 3/1/1997 3/1/1998 6/1/1998 $1,500 $9,600 $9,600 $12,000 $25,000 $350 $500 $18,500 $24,500 $101,550
Budget
Manager Patricia Ricardo Patricia Ricardo Ricardo Pat/Ric Ricardo Patricia Ricardo
Department Finance Finance Admin/Mgmt Sales Production Marketing Marketing Admin Warehouse
Management Summary
Salvador's was founded by Ricardo & Patricia Torres and has operated without the burden of any payroll or salary expense to this point. Patricia Torres - President Patricia is currently responsible for the preparation of salsa and maintaining the various inventories of raw materials; purchasing of food ingredients; assistance with packaging and
shipping. In addition, she maintains the company records and is in direct communication with the accountant and other advisors. Ricardo Torres - Vice President Ricardo assists with the preparation and production of salsa; maintains the inventory of the finished products; is responsible for packing and shipping; assists with recordkeeping and cost containment. Ricardo also shares in the marketing and promotion of the product. Current plans are to bring Patricia on board in a paid capacity on or about August 1st, and we have forecast the proper expenses to do so. As orders are processed and goals met, Ricardo will take charge of the logistics and become a full time paid employee as well. We are currently forecasting this to transpire in the first quarter of 1997. We plan on hiring additional personnel as the need for them arises, and as we have the ability to pay them.
Personnel Plan
Financial Plan
We have forecast a very rapid growth for Salvador's this year. Although this may seem ambitious based on historic sales, this rate of growth is due to the large orders we have received to date from several distributors, letters of commitment from Meijer's and Kroger's, and the increasing number of orders from current clients.
We assume a slow-growth economy, without major recession. We assume, of course, that there are no unforeseen changes in the consumer market to make products immediately obsolete or out of favor (or not increasing in popularity). We assume access to equity capital and financing sufficient to maintain our financial plan as shown in the tables, addendum, and additional documentation.
General Assumptions 1996 Plan Month Current Interest Rate 5.00% Long-term Interest Rate 5.00% Tax Rate Other 25.00% 0 1 5.00% 5.00% 25.00% 0 1997 2 5.00% 5.00% 25.00% 0 1998 3
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purchasing from this supplier will also reduce our per unit production costs in excess of 30%. An additional alternative would be to purchase the production equipment necessary, and not be subject to the local manufacturer's production scheduling. We must maintain reasonably high gross margins, and hold marketing costs to no more than 20% of sales to provide the income to reduce out debt, and equip us to sustain the growth we anticipate. We will meet and exceed all of theses conditions through buying at increased volumes. Then we'll pass the savings on to our customers through increases in the margins at which they retail the product.
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Break-even Analysis Monthly Revenue Break-even $4,747 Assumptions: Average Percent Variable Cost 39% Estimated Monthly Fixed Cost $2,919
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Need actual charts? We recommend using LivePlan as the easiest way to create graphs for your own business plan. Create your own business plan
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Pro Forma Profit and Loss 1996 Sales Direct Cost of Sales Other Costs of Sales Total Cost of Sales Gross Margin Gross Margin % Expenses Payroll Marketing/Promotion Depreciation Rent Utilities Leased Equipment Insurance Payroll Taxes Other Total Operating Expenses Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred Net Profit Net Profit/Sales $168,602 $64,916 $0 $64,916 $103,686 61.50% $9,600 $6,763 $5,520 $3,500 $3,850 $465 $1,044 $0 $4,290 $35,032 $68,654 $74,174 $7,533 $15,280 $45,841 27.19% 1997 $217,320 $86,928 $0 $86,928 $130,392 60.00% $43,500 $0 $0 $0 $0 $0 $0 $0 $4,225 $47,725 $82,667 $82,667 $7,958 $18,677 $56,032 25.78% 1998 $312,052 $124,821 $0 $124,821 $187,231 60.00% $72,800 $0 $0 $0 $0 $0 $0 $0 $6,275 $79,075 $108,156 $108,156 $6,817 $25,335 $76,004 24.36%
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Pro Forma Cash Flow 1996 Cash Received Cash from Operations Cash Sales Subtotal Cash from Operations Additional Cash Received Sales Tax, VAT, HST/GST Received New Current Borrowing New Other Liabilities (interest-free) New Long-term Liabilities Sales of Other Current Assets Sales of Long-term Assets New Investment Received Subtotal Cash Received Expenditures Expenditures from Operations Cash Spending Bill Payments Subtotal Spent on Operations Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out $143,312 $164,267 $0 $0 $0 $165,000 $0 $0 $0 $329,267 1996 $9,600 $101,045 $110,645 $0 $184,722 $216,067 $0 $0 $0 $0 $0 $0 $0 $216,067 1997 $43,500 $120,055 $163,555 $0 $5,555 $0 $17,042 $0 $0 $265,244 $309,616 $0 $0 $0 $0 $0 $0 $0 $309,616 1998 $72,800 $163,313 $236,113 $0 $6,000 $0 $17,042 $0 $0 1997 1998
Principal Repayment of Current Borrowing $3,650 Other Liabilities Principal Repayment $0 Long-term Liabilities Principal Repayment $7,100 Purchase Other Current Assets $0 Purchase Long-term Assets $0
Pro Forma Balance Sheet 1996 Assets Current Assets Cash Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets $162,998 $4,335 $6,745 $0 $174,078 $192,913 $5,587 $9,032 $0 $207,533 $23,368 $15,312 $8,056 $215,589 1997 $9,869 $7,002 $0 $16,871 $140,858 $157,729 $25,000 $243,375 $8,023 $12,970 $0 $264,367 $23,368 $15,312 $8,056 $272,423 1998 $13,741 $1,002 $0 $14,743 $123,816 $138,559 $25,000 1997 1998
Long-term Assets $23,368 Accumulated Depreciation $15,312 Total Long-term Assets Total Assets Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities $8,056 $182,134 1996 $9,849 $12,557 $0
Subtotal Current Liabilities $22,406 Long-term Liabilities $157,900 Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital $180,306 $25,000
($69,013) ($23,172) $32,860 $45,841 $56,032 $76,004 $1,828 $57,860 $133,864 $215,589 $57,860 $272,423 $133,864
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Ratio Analysis 1996 Sales Growth Percent of Total Assets Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Total Assets Current Liabilities Long-term Liabilities Total Liabilities Net Worth Percent of Sales 700.96% 2.38% 3.70% 0.00% 95.58% 4.42% 100.00% 12.30% 86.69% 99.00% 1.00% 1997 28.90% 2.59% 4.19% 0.00% 96.26% 3.74% 100.00% 7.83% 65.34% 73.16% 26.84% 100.00% 60.00% 34.22% 0.00% 38.04% 12.30 11.77 73.16% 129.12% 34.65% 1997 25.78% 96.84% 5.83 56 11.02 12.17 30 1.01 2.73 0.11 $190,662 10.39 0.99 8% 11.43 3.76 0.00 1998 43.59% 2.94% 4.76% 0.00% 97.04% 2.96% 100.00% 5.41% 45.45% 50.86% 49.14% 100.00% 60.00% 35.64% 0.00% 34.66% 17.93 17.05 50.86% 75.70% 37.20% 1998 24.36% 56.78% 5.83 53 11.35 12.17 26 1.15 1.04 0.11 $249,624 15.87 0.87 5% 16.51 2.33 0.00 Industry Profile 6.68% 15.95% 13.45% 21.34% 50.74% 49.26% 100.00% 25.96% 29.44% 55.40% 44.60% 100.00% 19.36% 11.01% 0.60% 1.06% 1.56 0.86 63.95% 1.88% 5.23% n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a
Sales 100.00% Gross Margin 61.50% Selling, General & Administrative Expenses 34.31% Advertising Expenses Profit Before Interest and Taxes Main Ratios Current Quick Total Debt to Total Assets Pre-tax Return on Net Worth Pre-tax Return on Assets Additional Ratios Net Profit Margin Return on Equity Activity Ratios Accounts Receivable Turnover Collection Days Inventory Turnover Accounts Payable Turnover Payment Days Total Asset Turnover Debt Ratios Debt to Net Worth Current Liab. to Liab. Liquidity Ratios Net Working Capital Interest Coverage Additional Ratios Assets to Sales Current Debt/Total Assets Acid Test Sales/Net Worth Dividend Payout 3.27% 40.72% 7.77 7.47 99.00% 3343.58% 33.56% 1996 27.19% 2507.69% 5.83 57 10.91 11.26 27 0.93 98.63 0.12 $151,672 9.11 1.08 12% 7.27 92.23 0.98
Appendix
Sales Forecast Jan Sales All Products Other Total Sales Direct Cost of Sales All Products Other Subtotal Direct Cost of Sales 0% 0% $13,351 $0 $13,351 Jan $3,981 $0 $3,981 $12,271 $0 $12,271 Feb $3,726 $0 $3,726 $12,421 $0 $12,421 Mar $6,924 $0 $6,924 $15,099 $0 $15,099 Apr $4,659 $0 $4,659 $14,370 $0 $14,370 May $5,093 $0 $5,093 $15,850 $0 $15,850 Jun $5,615 $0 $5,615 $14,350 $0 $14,350 Jul $5,925 $0 $5,925 $13,800 $0 $13,800 Aug $6,173 $0 $6,173 $14,112 $0 $14,112 Sep $5,313 $0 $5,313 $13,643 $0 $13,643 Oct $5,500 $0 $5,500 $13,100 $0 $13,100 Nov $5,875 $0 $5,875 $16,235 $0 $16,235 Dec $6,132 $0 $6,132 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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Personnel Plan Jan Patricia Torres Ricardo Torres Other Total People Total Payroll
Pro Forma Profit and Loss Jan Sales Direct Cost of Sales Other Costs of Sales Total Cost of Sales Gross Margin Gross Margin % Expenses Payroll Marketing/Promotion Depreciation Rent Utilities Leased Equipment Insurance Payroll Taxes Other Total Operating Expenses Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred Net Profit Net Profit/Sales 15% $0 $466 $460 $0 $315 $0 $87 $0 $167 $1,495 $7,875 $8,335 $67 $1,952 $5,856 43.86% $0 $722 $460 $0 $400 $0 $87 $0 $1,591 $3,260 $5,285 $5,745 $67 $1,305 $3,914 31.89% $0 $330 $460 $0 $315 $0 $87 $0 $118 $1,310 $4,187 $4,647 $754 $858 $2,575 20.73% $0 $845 $460 $0 $300 $0 $87 $0 $614 $2,306 $8,134 $8,594 $753 $1,845 $5,535 36.66% $0 $335 $460 $0 $315 $0 $87 $0 $225 $1,422 $7,855 $8,315 $753 $1,776 $5,327 37.07% $0 $435 $460 $500 $315 $65 $87 $0 $225 $2,087 $8,148 $8,608 $752 $1,849 $5,547 35.00% $0 $595 $460 $500 $315 $0 $87 $0 $225 $2,182 $6,243 $6,703 $751 $1,373 $4,119 28.70% $1,920 $470 $460 $500 $315 $0 $87 $0 $225 $3,977 $3,650 $4,110 $743 $727 $2,180 15.80% $1,920 $800 $460 $500 $315 $75 $87 $0 $225 $4,382 $4,417 $4,877 $735 $920 $2,761 19.57% $1,920 $470 $460 $500 $315 $0 $87 $0 $225 $3,977 $4,166 $4,626 $727 $860 $2,579 18.90% $1,920 $675 $460 $500 $315 $325 $87 $0 $225 $4,507 $2,718 $3,178 $719 $500 $1,499 11.44% $1,920 $620 $460 $500 $315 $0 $87 $0 $225 $4,127 $5,976 $6,436 $710 $1,316 $3,949 24.33% $13,351 $3,981 $0 $3,981 $9,370 70.18% Feb $12,271 $3,726 $0 $3,726 $8,545 69.64% Mar $12,421 $6,924 $0 $6,924 $5,497 44.26% Apr $15,099 $4,659 $0 $4,659 $10,440 69.14% May $14,370 $5,093 $0 $5,093 $9,277 64.56% Jun $15,850 $5,615 $0 $5,615 $10,235 64.57% Jul $14,350 $5,925 $0 $5,925 $8,425 58.71% Aug $13,800 $6,173 $0 $6,173 $7,627 55.27% Sep $14,112 $5,313 $0 $5,313 $8,799 62.35% Oct $13,643 $5,500 $0 $5,500 $8,143 59.69% Nov $13,100 $5,875 $0 $5,875 $7,225 55.15% Dec $16,235 $6,132 $0 $6,132 $10,103 62.23%
Feb $0 $0 $0 2 $0
Mar $0 $0 $0 2 $0
Apr $0 $0 $0 2 $0
May $0 $0 $0 2 $0
Jun $0 $0 $0 2 $0
Jul $0 $0 $0 2 $0
Aug
Sep
Oct
Nov
Dec
0% 0% 0%
$0 $0 $0 2 $0
Pro Forma Cash Flow Jan Cash Received Cash from Operations Cash Sales Subtotal Cash from Operations Additional Cash Received Sales Tax, VAT, HST/GST Received New Current Borrowing 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $11,348 $11,348 $10,430 $10,497 $10,558 $12,555 $12,834 $14,676 $12,215 $14,091 $13,473 $15,734 $12,198 $14,360 $11,730 $14,100 $11,995 $14,145 $11,597 $13,668 $11,135 $13,249 $13,800 $15,843 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
New Other Liabilities (interest-free) New Long-term Liabilities Sales of Other Current Assets Sales of Long-term Assets New Investment Received Subtotal Cash Received Expenditures Expenditures from Operations Cash Spending Bill Payments Subtotal Spent on Operations Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Long-term Liabilities Principal Repayment Purchase Other Current Assets Purchase Long-term Assets Dividends Subtotal Cash Spent Net Cash Flow Cash Balance
Pro Forma Balance Sheet Jan Assets Current Assets Cash Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth $0 $16,207 $0 $16,207 $0 $16,207 $25,000 ($9,755) ($14,258) $987 $17,194 $987 $7,658 $16,107 $0 $23,765 $0 $23,765 $25,000 ($24,013) $5,856 $6,843 $30,608 $6,843 $7,363 $16,007 $0 $23,370 $0 $23,370 $25,000 ($24,013) $9,770 $10,757 $34,127 $10,757 $12,474 $15,907 $0 $28,381 $165,000 $193,381 $25,000 ($24,013) $12,345 $13,332 $206,712 $13,332 $6,392 $15,807 $0 $22,199 $165,000 $187,199 $25,000 ($29,013) $17,880 $13,867 $201,066 $13,867 $8,759 $15,707 $0 $24,466 $165,000 $189,466 $25,000 ($34,013) $23,207 $14,194 $203,659 $14,194 $10,070 $15,507 $0 $25,577 $165,000 $190,577 $25,000 ($39,013) $28,753 $14,740 $205,318 $14,740 $9,775 $15,307 $0 $25,082 $165,000 $190,082 $25,000 ($44,013) $32,872 $13,859 $203,941 $13,859 $9,196 $14,807 $0 $24,003 $163,580 $187,583 $25,000 ($49,013) $35,052 $11,039 $198,622 $11,039 $7,757 $14,307 $0 $22,064 $162,160 $184,224 $25,000 ($49,013) $37,814 $13,801 $198,025 $13,801 $8,593 $13,807 $0 $22,400 $160,740 $183,140 $25,000 ($49,013) $40,393 $16,380 $199,520 $16,380 $9,312 $13,307 $0 $22,619 $159,320 $181,939 $25,000 ($49,013) $41,892 $17,879 $199,818 $17,879 $9,849 $12,557 $0 $22,406 $157,900 $180,306 $25,000 ($69,013) $45,841 $1,828 $182,134 $1,828 $23,368 $9,792 $13,576 $17,194 $23,368 $10,252 $13,116 $30,608 Jan $23,368 $10,712 $12,656 $34,127 Feb $23,368 $11,172 $12,196 $206,712 Mar $23,368 $11,632 $11,736 $201,066 Apr $23,368 $12,092 $11,276 $203,659 May $23,368 $12,552 $10,816 $205,318 Jun $23,368 $13,012 $10,356 $203,941 Jul $23,368 $13,472 $9,896 $198,622 Aug $23,368 $13,932 $9,436 $198,025 Sep $23,368 $14,392 $8,976 $199,520 Oct $23,368 $14,852 $8,516 $199,818 Nov $23,368 $15,312 $8,056 $182,134 Dec $126 $0 $3,492 $0 $3,618 $11,110 $2,003 $4,379 $0 $17,492 $13,595 $3,777 $4,099 $0 $21,471 $183,257 $3,642 $7,616 $0 $194,516 $180,139 $4,066 $5,125 $0 $189,330 $182,436 $4,345 $5,602 $0 $192,383 $183,864 $4,461 $6,177 $0 $194,502 $182,617 $4,451 $6,518 $0 $193,585 $177,785 $4,151 $6,790 $0 $188,726 $178,627 $4,118 $5,844 $0 $188,589 $180,401 $4,093 $6,050 $0 $190,544 $180,896 $3,943 $6,463 $0 $191,302 $162,998 $4,335 $6,745 $0 $174,078 Starting Balances Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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General Assumptions Jan Plan Month Current Interest Rate Long-term Interest Rate Tax Rate Other 5.00% 5.00% 25.00% 0 1 5.00% 5.00% 25.00% 0 Feb 2 5.00% 5.00% 25.00% 0 Mar 3 5.00% 5.00% 25.00% 0 Apr 4 5.00% 5.00% 25.00% 0 May 5 5.00% 5.00% 25.00% 0 Jun 6 5.00% 5.00% 25.00% 0 Jul 7 5.00% 5.00% 25.00% 0 Aug 8 5.00% 5.00% 25.00% 0 Sep 9 5.00% 5.00% 25.00% 0 Oct 10 5.00% 5.00% 25.00% 0 Nov 11 Dec 12 5.00% 5.00% 25.00% 0