Phaethon's Chariot Restorations

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Automobile Restoration Business Plan

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
Restoration Work 0% $5,000 $5,750 $6,613 $7,604 $8,745 $10,057 $11,565 $13,300 $15,295 $17,589 $20,228 $23,262
Paint Work 0% $1,500 $1,755 $2,053 $2,402 $2,811 $3,289 $3,848 $4,502 $5,267 $6,163 $7,210 $8,436
Parts 0% $3,000 $3,360 $3,763 $4,215 $4,721 $5,287 $5,921 $6,632 $7,428 $8,319 $9,318 $10,436
Service 0% $3,600 $3,600 $3,000 $3,900 $3,900 $3,600 $3,600 $3,900 $3,900 $3,900 $3,900 $3,600
Total Sales $13,100 $14,465 $15,429 $18,122 $20,176 $22,232 $24,935 $28,334 $31,890 $35,971 $40,656 $45,734
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
Restoration Work 0% $675 $810 $972 $1,166 $1,400 $1,680 $2,016 $2,419 $2,902 $3,483 $4,179 $5,015
Paint Work 0% $313 $359 $413 $475 $547 $629 $723 $831 $956 $1,099 $1,264 $1,454
Parts 0% $0 $3,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Service 0% $1,440 $1,440 $1,200 $1,560 $1,560 $1,440 $1,440 $1,560 $1,560 $1,560 $1,560 $1,440
Subtotal Direct Cost of Sales $2,428 $5,609 $3,585 $4,202 $4,506 $4,748 $5,178 $5,810 $6,418 $7,142 $8,004 $8,909
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
Owner 0% $1,000 $1,000 $1,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Foreman 0% $0 $1,000 $1,000 $1,000 $1,500 $1,500 $1,700 $1,700 $2,000 $2,000 $2,000 $2,000
Sheet Metal & Body Technician(s) 0% $0 $0 $0 $0 $0 $1,833 $1,833 $1,833 $1,833 $1,833 $1,833 $1,833
Automotive Mechanic(s) 0% $0 $0 $0 $0 $0 $2,166 $2,166 $2,166 $2,166 $2,166 $2,166 $2,166
Painting Technician 0% $0 $0 $0 $0 $0 $0 $0 $0 $1,500 $1,500 $1,750 $2,000
Admin Asst. 0% $0 $0 $0 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Total People 1 2 2 3 3 5 5 5 6 6 6 6
Total Payroll $1,000 $2,000 $2,000 $4,000 $4,500 $8,499 $8,699 $8,699 $10,499 $10,499 $10,749 $10,999
Pro Forma Profit and Loss
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 $13,100 $14,465 $15,429 $18,122 $20,176 $22,232 $24,935 $28,334 $31,890 $35,971 $40,656 $45,734
Direct Cost of Sales $2,428 $5,609 $3,585 $4,202 $4,506 $4,748 $5,178 $5,810 $6,418 $7,142 $8,004 $8,909
Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $2,428 $5,609 $3,585 $4,202 $4,506 $4,748 $5,178 $5,810 $6,418 $7,142 $8,004 $8,909
Gross Margin $10,673 $8,856 $11,844 $13,920 $15,670 $17,484 $19,756 $22,524 $25,472 $28,829 $32,652 $36,824
Gross Margin % 81.47% 61.22% 76.76% 76.81% 77.67% 78.64% 79.23% 79.49% 79.87% 80.14% 80.31% 80.52%
Expenses
Payroll $1,000 $2,000 $2,000 $4,000 $4,500 $8,499 $8,699 $8,699 $10,499 $10,499 $10,749 $10,999
Marketing/Promotion $0 $1,000 $1,000 $1,500 $1,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Depreciation $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666 $1,666
Rent $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Utilities $2,000 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200
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
Payroll Taxes 15% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Fixtures $1,000 $1,000 $1,200 $300 $300 $300 $300 $300 $300 $1,000 $1,000 $1,000
Total Operating Expenses $9,466 $10,666 $10,866 $12,466 $12,966 $17,965 $18,165 $18,165 $19,965 $20,665 $20,915 $21,165
Profit Before Interest and Taxes $1,207 ($1,810) $978 $1,454 $2,704 ($481) $1,591 $4,359 $5,507 $8,164 $11,737 $15,659
EBITDA $2,873 ($144) $2,644 $3,120 $4,370 $1,185 $3,257 $6,025 $7,173 $9,830 $13,403 $17,325
Interest Expense $588 $590 $587 $572 $561 $554 $548 $549 $534 $527 $536 $525
Taxes Incurred $185 ($720) $117 $264 $643 ($311) $313 $1,143 $1,492 $2,291 $3,360 $4,540
Net Profit $433 ($1,680) $273 $617 $1,500 ($725) $731 $2,667 $3,481 $5,346 $7,840 $10,594
Net Profit/Sales 3.30% -11.62% 1.77% 3.41% 7.43% -3.26% 2.93% 9.41% 10.92% 14.86% 19.28% 23.16%
Pro Forma Cash Flow
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Cash Received
Cash from Operations
Cash Sales $13,100 $14,465 $15,429 $18,122 $20,176 $22,232 $24,935 $28,334 $31,890 $35,971 $40,656 $45,734
Subtotal Cash from Operations $13,100 $14,465 $15,429 $18,122 $20,176 $22,232 $24,935 $28,334 $31,890 $35,971 $40,656 $45,734
Additional Cash Received
Sales Tax, VAT, HST/GST Received 6.66% $872 $963 $1,028 $1,207 $1,344 $1,481 $1,661 $1,887 $2,124 $2,396 $2,708 $3,046
New Current Borrowing $0 $1,000 $1,000 $0 $0 $0 $0 $1,000 $0 $0 $2,000 $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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $13,972 $16,428 $17,457 $19,328 $21,520 $23,713 $26,595 $31,221 $34,014 $38,367 $45,363 $48,779
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
Expenditures from Operations
Cash Spending $1,000 $2,000 $2,000 $4,000 $4,500 $8,499 $8,699 $8,699 $10,499 $10,499 $10,749 $10,999
Bill Payments $6,429 $13,056 $18,478 $8,061 $12,625 $13,125 $13,323 $14,762 $16,595 $17,542 $19,982 $22,195
Subtotal Spent on Operations $7,429 $15,056 $20,478 $12,061 $17,125 $21,624 $22,022 $23,461 $27,094 $28,041 $30,731 $33,194
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $872 $963 $1,028 $1,207 $1,344 $1,481 $1,661 $1,887 $2,124 $2,396 $2,708 $3,046
Principal Repayment of Current Borrowing $0 $0 $500 $1,000 $500 $0 $0 $0 $1,000 $0 $0 $500
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $1,336 $1,342 $1,349 $1,356 $1,363 $1,370 $1,376 $1,383 $1,390 $1,397 $1,404 $1,410
Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Long-term Assets $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Dividends $0 $0 $0 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Subtotal Cash Spent $9,837 $17,561 $23,555 $16,824 $21,532 $25,674 $26,259 $27,931 $32,808 $33,034 $36,042 $39,350
Net Cash Flow $4,135 ($1,133) ($6,098) $2,504 ($12) ($1,961) $336 $3,290 $1,206 $5,333 $9,321 $9,429
Cash Balance $14,135 $13,003 $6,904 $9,409 $9,397 $7,435 $7,772 $11,062 $12,268 $17,601 $26,922 $36,352
Pro Forma Balance Sheet
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Assets Starting Balances
Current Assets
Cash $10,000 $14,135 $13,003 $6,904 $9,409 $9,397 $7,435 $7,772 $11,062 $12,268 $17,601 $26,922 $36,352
Inventory $2,000 $4,855 $11,219 $7,633 $8,403 $9,012 $9,496 $10,357 $11,620 $12,837 $14,284 $16,007 $17,818
Other Current Assets $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000
Total Current Assets $42,000 $48,990 $54,221 $44,538 $47,812 $48,409 $46,932 $48,128 $52,682 $55,105 $61,886 $72,929 $84,170
Long-term Assets
Long-term Assets $100,000 $100,200 $100,400 $100,600 $100,800 $101,000 $101,200 $101,400 $101,600 $101,800 $102,000 $102,200 $102,400
Accumulated Depreciation $0 $1,666 $3,332 $4,998 $6,664 $8,330 $9,996 $11,662 $13,328 $14,994 $16,660 $18,326 $19,992
Total Long-term Assets $100,000 $98,534 $97,068 $95,602 $94,136 $92,670 $91,204 $89,738 $88,272 $86,806 $85,340 $83,874 $82,408
Total Assets $142,000 $147,524 $151,289 $140,140 $141,948 $141,079 $138,136 $137,866 $140,954 $141,911 $147,226 $156,803 $166,578
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 $6,000 $12,428 $18,215 $7,641 $12,188 $12,682 $12,833 $14,209 $16,013 $16,879 $19,244 $21,386 $23,476
Current Borrowing $0 $0 $1,000 $1,500 $500 $0 $0 $0 $1,000 $0 $0 $2,000 $1,500
Other Current Liabilities $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500
Subtotal Current Liabilities $11,500 $17,928 $24,715 $14,641 $18,188 $18,182 $18,333 $19,709 $22,513 $22,379 $24,744 $28,886 $30,476
Long-term Liabilities $119,000 $117,664 $116,322 $114,973 $113,617 $112,254 $110,884 $109,508 $108,125 $106,735 $105,338 $103,934 $102,524
Total Liabilities $130,500 $135,592 $141,037 $129,614 $131,805 $130,436 $129,217 $129,217 $130,638 $129,114 $130,082 $132,820 $133,000
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 ($23,500) ($23,500) ($23,500) ($23,500) ($24,500) ($25,500) ($26,500) ($27,500) ($28,500) ($29,500) ($30,500) ($31,500) ($32,500)
Earnings $0 $433 ($1,247) ($974) ($357) $1,143 $418 $1,149 $3,816 $7,297 $12,643 $20,484 $31,078
Total Capital $11,500 $11,933 $10,253 $10,526 $10,143 $10,643 $8,918 $8,649 $10,316 $12,797 $17,143 $23,984 $33,578
Total Liabilities and Capital $142,000 $147,524 $151,289 $140,140 $141,948 $141,079 $138,136 $137,866 $140,954 $141,911 $147,226 $156,803 $166,578
Net Worth $11,500 $11,933 $10,253 $10,526 $10,143 $10,643 $8,918 $8,649 $10,316 $12,797 $17,143 $23,984 $33,578