CollisionSyzygy, Inc.

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Auto Insurance Claims Business Plan

Appendix

Sales Forecast
Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Unit Sales
Salvage Fees - Insurance Co. 0% 400 447 500 559 625 699 782 874 977 1,092 1,221 1,364
Salvage Fees - Buyer 0% 400 447 500 559 625 699 782 874 977 1,092 1,221 1,364
Claim Handling Fees-Ins. Co. @ $45 0% 600 642 687 735 787 842 901 964 1,032 1,104 1,181 1,265
Claim Handling Fees-Ins. Co. @ $50 0% 500 532 566 602 641 682 726 772 822 875 931 990
Claim Handling Fees-Ins. Co. @ $70 0% 400 418 437 456 477 498 520 544 568 593 619 650
Referral Fees - Service Shops @ $5 0% 300 343 392 448 512 586 669 765 875 1,000 1,144 1,306
Referral Fees - Service Shops @ $30 0% 600 689 791 908 1,043 1,198 1,376 1,580 1,814 2,083 2,392 2,746
DRP Appraiser Fees @ $65 0% 75 84 94 105 118 132 147 165 185 206 231 259
DRP Appraiser Fees @ $70 0% 125 143 164 188 216 248 284 326 374 429 491 563
Dispatch Fees 0% 2,000 2,246 2,523 2,833 3,182 3,574 4,014 4,508 5,063 5,686 6,386 7,172
Other 0% 0 0 0 0 0 0 0 0 0 0 0 0
Total Unit Sales 5,400 5,992 6,654 7,396 8,226 9,157 10,200 11,371 12,685 14,160 15,817 17,680
Unit Prices Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Salvage Fees - Insurance Co. $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00
Salvage Fees - Buyer $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00
Claim Handling Fees-Ins. Co. @ $45 $45.00 $45.00 $45.00 $45.00 $45.00 $45.00 $45.00 $45.00 $45.00 $45.00 $45.00 $45.00
Claim Handling Fees-Ins. Co. @ $50 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00 $50.00
Claim Handling Fees-Ins. Co. @ $70 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00
Referral Fees - Service Shops @ $5 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00
Referral Fees - Service Shops @ $30 $30.00 $30.00 $30.00 $30.00 $30.00 $30.00 $30.00 $30.00 $30.00 $30.00 $30.00 $30.00
DRP Appraiser Fees @ $65 $65.00 $65.00 $65.00 $65.00 $65.00 $65.00 $65.00 $65.00 $65.00 $65.00 $65.00 $65.00
DRP Appraiser Fees @ $70 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00
Dispatch Fees $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 $5.00
Other $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Sales
Salvage Fees - Insurance Co. $20,000 $22,362 $25,003 $27,956 $31,257 $34,949 $39,076 $43,691 $48,851 $54,621 $61,050 $68,200
Salvage Fees - Buyer $20,000 $22,362 $25,003 $27,956 $31,257 $34,949 $39,076 $43,691 $48,851 $54,621 $61,050 $68,200
Claim Handling Fees-Ins. Co. @ $45 $27,000 $28,893 $30,918 $33,085 $35,405 $37,887 $40,542 $43,384 $46,426 $49,680 $53,163 $56,925
Claim Handling Fees-Ins. Co. @ $50 $25,000 $26,602 $28,308 $30,122 $32,053 $34,108 $36,294 $38,620 $41,096 $43,730 $46,533 $49,516
Claim Handling Fees-Ins. Co. @ $70 $28,000 $29,254 $30,565 $31,934 $33,365 $34,860 $36,421 $38,053 $39,758 $41,539 $43,330 $45,500
Referral Fees - Service Shops @ $5 $1,500 $1,715 $1,960 $2,240 $2,561 $2,928 $3,347 $3,825 $4,373 $4,999 $5,720 $6,532
Referral Fees - Service Shops @ $30 $18,000 $20,669 $23,735 $27,255 $31,296 $35,938 $41,267 $47,387 $54,415 $62,484 $71,751 $82,391
DRP Appraiser Fees @ $65 $4,875 $5,456 $6,105 $6,833 $7,646 $8,557 $9,576 $10,717 $11,993 $13,421 $15,020 $16,809
DRP Appraiser Fees @ $70 $8,750 $10,034 $11,506 $13,193 $15,129 $17,348 $19,893 $22,812 $26,158 $29,996 $34,396 $39,442
Dispatch Fees $10,000 $11,231 $12,614 $14,166 $15,910 $17,869 $20,068 $22,539 $25,313 $28,429 $31,929 $35,859
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $163,125 $178,578 $195,716 $214,741 $235,880 $259,391 $285,562 $314,720 $347,234 $383,519 $423,941 $469,374
Direct Unit Costs Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Salvage Fees - Insurance Co. 0.00% $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26
Salvage Fees - Buyer 0.00% $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26
Claim Handling Fees-Ins. Co. @ $45 0.00% $6.53 $6.53 $6.53 $6.53 $6.53 $6.53 $6.53 $6.53 $6.53 $6.53 $6.53 $6.53
Claim Handling Fees-Ins. Co. @ $50 0.00% $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26 $7.26
Claim Handling Fees-Ins. Co. @ $70 0.00% $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16
Referral Fees - Service Shops @ $5 0.00% $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73
Referral Fees - Service Shops @ $30 0.00% $4.35 $4.35 $4.35 $4.35 $4.35 $4.35 $4.35 $4.35 $4.35 $4.35 $4.35 $4.35
DRP Appraiser Fees @ $65 0.00% $9.43 $9.43 $9.43 $9.43 $9.43 $9.43 $9.43 $9.43 $9.43 $9.43 $9.43 $9.43
DRP Appraiser Fees @ $70 0.00% $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16 $10.16
Dispatch Fees 0.00% $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73 $0.73
Other 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Direct Cost of Sales
Salvage Fees - Insurance Co. $2,902 $3,245 $3,628 $4,056 $4,535 $5,071 $5,670 $6,340 $7,088 $7,925 $8,858 $9,896
Salvage Fees - Buyer $2,902 $3,245 $3,628 $4,056 $4,535 $5,071 $5,670 $6,340 $7,088 $7,925 $8,858 $9,896
Claim Handling Fees-Ins. Co. @ $45 $3,918 $4,192 $4,486 $4,801 $5,137 $5,497 $5,883 $6,295 $6,736 $7,209 $7,714 $8,260
Claim Handling Fees-Ins. Co. @ $50 $3,628 $3,860 $4,107 $4,371 $4,651 $4,949 $5,266 $5,604 $5,963 $6,345 $6,752 $7,185
Claim Handling Fees-Ins. Co. @ $70 $4,063 $4,245 $4,435 $4,634 $4,841 $5,058 $5,285 $5,522 $5,769 $6,027 $6,287 $6,602
Referral Fees - Service Shops @ $5 $218 $249 $284 $325 $372 $425 $486 $555 $635 $725 $830 $948
Referral Fees - Service Shops @ $30 $2,612 $2,999 $3,444 $3,955 $4,541 $5,215 $5,988 $6,876 $7,896 $9,067 $10,411 $11,955
DRP Appraiser Fees @ $65 $707 $792 $886 $991 $1,109 $1,242 $1,389 $1,555 $1,740 $1,947 $2,179 $2,439
DRP Appraiser Fees @ $70 $1,270 $1,456 $1,669 $1,914 $2,195 $2,517 $2,887 $3,310 $3,796 $4,352 $4,991 $5,723
Dispatch Fees $1,451 $1,630 $1,830 $2,056 $2,309 $2,593 $2,912 $3,270 $3,673 $4,125 $4,633 $5,203
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $23,670 $25,912 $28,398 $31,159 $34,226 $37,638 $41,435 $45,666 $50,384 $55,649 $61,514 $68,106
Personnel Plan
Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
President 0% $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Vice-President Operations 0% $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,084 $7,084 $7,084 $7,084
Vice-President Administration 0% $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,084 $7,084 $7,084 $7,084
IS Manager 0% $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,083 $7,084 $7,084 $7,084 $7,084
CFO 0% $0 $0 $0 $0 $0 $0 $0 $8,333 $8,333 $8,333 $8,333 $8,333
COO 0% $0 $0 $0 $0 $0 $0 $0 $8,333 $8,333 $8,333 $8,333 $8,333
Software Developers (2) 0% $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500
Staff Appraisers (Total) 0% $26,667 $26,667 $26,667 $26,667 $26,667 $26,667 $26,667 $26,667 $26,667 $26,667 $26,667 $26,667
Customer Service Rep's (Total) 0% $13,500 $13,500 $13,500 $13,500 $13,500 $13,500 $13,500 $13,500 $13,500 $13,500 $13,500 $13,500
Marketing Rep's (Total) 0% $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333
Marketing Rep 10% x Net Income Bonus 0% $11,380 $11,380 $11,380 $11,380 $11,380 $11,380 $11,380 $11,380 $11,380 $11,380 $11,380 $11,380
Operations Manager 0% $0 $0 $0 $0 $0 $0 $0 $7,083 $7,083 $7,083 $7,083 $7,083
Administrative Manager 0% $0 $0 $0 $0 $0 $0 $0 $6,250 $6,250 $6,250 $6,250 $6,250
Total People 22 22 22 22 22 22 22 24 24 24 24 24
Total Payroll $103,629 $103,629 $103,629 $103,629 $103,629 $103,629 $103,629 $133,628 $133,631 $133,631 $133,631 $133,631
General Assumptions
Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Interest Rate 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%
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 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00%
Other 0 0 0 0 0 0 0 0 0 0 0 0
Pro Forma Profit and Loss
Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Sales $163,125 $178,578 $195,716 $214,741 $235,880 $259,391 $285,562 $314,720 $347,234 $383,519 $423,941 $469,374
Direct Cost of Sales $23,670 $25,912 $28,398 $31,159 $34,226 $37,638 $41,435 $45,666 $50,384 $55,649 $61,514 $68,106
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $23,670 $25,912 $28,398 $31,159 $34,226 $37,638 $41,435 $45,666 $50,384 $55,649 $61,514 $68,106
Gross Margin $139,455 $152,666 $167,317 $183,582 $201,654 $221,753 $244,127 $269,054 $296,850 $327,871 $362,427 $401,267
Gross Margin % 85.49% 85.49% 85.49% 85.49% 85.49% 85.49% 85.49% 85.49% 85.49% 85.49% 85.49% 85.49%
Expenses
Payroll $103,629 $103,629 $103,629 $103,629 $103,629 $103,629 $103,629 $133,628 $133,631 $133,631 $133,631 $133,631
Sales and Marketing and Other Expenses $37,042 $37,042 $37,042 $37,042 $37,042 $37,042 $37,042 $37,042 $37,042 $37,042 $37,040 $37,040
Depreciation $2,242 $2,242 $2,242 $2,242 $2,242 $2,242 $2,242 $2,242 $2,242 $2,242 $2,242 $2,242
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Insurance $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Rent $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Payroll Taxes 10% $10,363 $10,363 $10,363 $10,363 $10,363 $10,363 $10,363 $13,363 $13,363 $13,363 $13,363 $13,363
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $160,776 $160,776 $160,776 $160,776 $160,776 $160,776 $160,776 $193,775 $193,778 $193,778 $193,776 $193,776
Profit Before Interest and Taxes ($21,320) ($8,110) $6,541 $22,806 $40,878 $60,977 $83,351 $75,279 $103,072 $134,092 $168,651 $207,491
EBITDA ($19,078) ($5,868) $8,783 $25,048 $43,120 $63,219 $85,593 $77,521 $105,314 $136,334 $170,893 $209,733
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred ($7,462) ($2,838) $2,290 $7,982 $14,307 $21,342 $29,173 $26,348 $36,075 $46,932 $59,028 $72,622
Net Profit ($13,858) ($5,271) $4,252 $14,824 $26,571 $39,635 $54,178 $48,931 $66,997 $87,160 $109,623 $134,869
Net Profit/Sales -8.50% -2.95% 2.17% 6.90% 11.26% 15.28% 18.97% 15.55% 19.29% 22.73% 25.86% 28.73%
Pro Forma Cash Flow
Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Cash Received
Cash from Operations
Cash Sales $3,263 $3,572 $3,914 $4,295 $4,718 $5,188 $5,711 $6,294 $6,945 $7,670 $8,479 $9,387
Cash from Receivables $65,299 $70,627 $160,367 $175,566 $192,423 $211,137 $231,931 $255,058 $280,803 $309,488 $341,474 $377,170
Subtotal Cash from Operations $68,561 $74,199 $164,282 $179,861 $197,141 $216,324 $237,642 $261,352 $287,748 $317,158 $349,953 $386,557
Additional Cash Received
Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Investment Received $2,000,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $2,068,561 $74,199 $164,282 $179,861 $197,141 $216,324 $237,642 $261,352 $287,748 $317,158 $349,953 $386,557
Expenditures Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Expenditures from Operations
Cash Spending $103,629 $103,629 $103,629 $103,629 $103,629 $103,629 $103,629 $133,628 $133,631 $133,631 $133,631 $133,631
Bill Payments $73,921 $71,341 $78,232 $85,875 $94,359 $103,787 $114,272 $125,660 $130,400 $144,901 $161,085 $179,118
Subtotal Spent on Operations $177,550 $174,970 $181,861 $189,504 $197,988 $207,416 $217,901 $259,288 $264,031 $278,532 $294,716 $312,749
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Long-term Assets $134,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $312,050 $174,970 $181,861 $189,504 $197,988 $207,416 $217,901 $259,288 $264,031 $278,532 $294,716 $312,749
Net Cash Flow $1,756,511 ($100,771) ($17,579) ($9,643) ($847) $8,909 $19,741 $2,065 $23,717 $38,626 $55,237 $73,808
Cash Balance $3,717,839 $3,617,067 $3,599,488 $3,589,845 $3,588,998 $3,597,906 $3,617,647 $3,619,712 $3,643,428 $3,682,054 $3,737,291 $3,811,099
Pro Forma Balance Sheet
Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Assets Starting Balances
Current Assets
Cash $1,961,328 $3,717,839 $3,617,067 $3,599,488 $3,589,845 $3,588,998 $3,597,906 $3,617,647 $3,619,712 $3,643,428 $3,682,054 $3,737,291 $3,811,099
Accounts Receivable $130,597 $225,161 $329,540 $360,974 $395,854 $434,594 $477,660 $525,580 $578,948 $638,434 $704,795 $778,783 $861,600
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $2,091,925 $3,943,000 $3,946,607 $3,960,462 $3,985,699 $4,023,592 $4,075,567 $4,143,227 $4,198,660 $4,281,862 $4,386,849 $4,516,075 $4,672,699
Long-term Assets
Long-term Assets $192,291 $326,791 $326,791 $326,791 $326,791 $326,791 $326,791 $326,791 $326,791 $326,791 $326,791 $326,791 $326,791
Accumulated Depreciation $40,664 $42,906 $45,148 $47,390 $49,632 $51,874 $54,116 $56,358 $58,600 $60,842 $63,084 $65,326 $67,568
Total Long-term Assets $151,627 $283,885 $281,643 $279,401 $277,159 $274,917 $272,675 $270,433 $268,191 $265,949 $263,707 $261,465 $259,223
Total Assets $2,243,552 $4,226,885 $4,228,250 $4,239,863 $4,262,858 $4,298,509 $4,348,242 $4,413,660 $4,466,851 $4,547,811 $4,650,556 $4,777,540 $4,931,922
Liabilities and Capital Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Current Liabilities
Accounts Payable $71,551 $68,742 $75,379 $82,740 $90,911 $99,991 $110,089 $121,329 $125,588 $139,552 $155,137 $172,497 $192,010
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 $71,551 $68,742 $75,379 $82,740 $90,911 $99,991 $110,089 $121,329 $125,588 $139,552 $155,137 $172,497 $192,010
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $71,551 $68,742 $75,379 $82,740 $90,911 $99,991 $110,089 $121,329 $125,588 $139,552 $155,137 $172,497 $192,010
Paid-in Capital $1,907,335 $3,907,335 $3,907,335 $3,907,335 $3,907,335 $3,907,335 $3,907,335 $3,907,335 $3,907,335 $3,907,335 $3,907,335 $3,907,335 $3,907,335
Retained Earnings $144,336 $264,666 $264,666 $264,666 $264,666 $264,666 $264,666 $264,666 $264,666 $264,666 $264,666 $264,666 $264,666
Earnings $120,330 ($13,858) ($19,130) ($14,878) ($54) $26,517 $66,152 $120,330 $169,262 $236,258 $323,418 $433,042 $567,911
Total Capital $2,172,001 $4,158,143 $4,152,871 $4,157,123 $4,171,947 $4,198,518 $4,238,153 $4,292,331 $4,341,263 $4,408,259 $4,495,419 $4,605,043 $4,739,912
Total Liabilities and Capital $2,243,552 $4,226,885 $4,228,250 $4,239,863 $4,262,858 $4,298,509 $4,348,242 $4,413,660 $4,466,851 $4,547,811 $4,650,556 $4,777,540 $4,931,922
Net Worth $2,172,001 $4,158,143 $4,152,871 $4,157,123 $4,171,947 $4,198,518 $4,238,153 $4,292,331 $4,341,263 $4,408,259 $4,495,419 $4,605,043 $4,739,912