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Business Support Insurance 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
Exclusive agents 0% $0 $1,001 $1,204 $2,145 $3,454 $3,658 $4,258 $4,987 $6,254 $6,985 $8,125 $8,978
Insurance brokers 0% $0 $1,325 $1,545 $2,785 $3,852 $4,141 $4,787 $6,235 $7,458 $8,325 $9,214 $10,145
Total Sales $0 $2,326 $2,749 $4,930 $7,306 $7,799 $9,045 $11,222 $13,712 $15,310 $17,339 $19,123
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
Exclusive agents $0 $150 $181 $322 $518 $549 $639 $748 $938 $1,048 $1,219 $1,347
Insurance brokers $0 $199 $232 $418 $578 $621 $718 $935 $1,119 $1,249 $1,382 $1,522
Subtotal Direct Cost of Sales $0 $349 $412 $740 $1,096 $1,170 $1,357 $1,683 $2,057 $2,297 $2,601 $2,868
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
Sarah 0% $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Support staff 0% $0 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920
Support staff 0% $0 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920
Support staff 0% $0 $0 $0 $0 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920
Support staff 0% $0 $0 $0 $0 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920
Total People 1 3 3 3 5 5 5 5 5 5 5 5
Total Payroll $2,500 $6,340 $6,340 $6,340 $10,180 $10,180 $10,180 $10,180 $10,180 $10,180 $10,180 $10,180
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
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 $0 $2,326 $2,749 $4,930 $7,306 $7,799 $9,045 $11,222 $13,712 $15,310 $17,339 $19,123
Direct Cost of Sales $0 $349 $412 $740 $1,096 $1,170 $1,357 $1,683 $2,057 $2,297 $2,601 $2,868
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $0 $349 $412 $740 $1,096 $1,170 $1,357 $1,683 $2,057 $2,297 $2,601 $2,868
Gross Margin $0 $1,977 $2,337 $4,191 $6,210 $6,629 $7,688 $9,539 $11,655 $13,014 $14,738 $16,255
Gross Margin % 0.00% 85.00% 85.00% 85.00% 85.00% 85.00% 85.00% 85.00% 85.00% 85.00% 85.00% 85.00%
Expenses
Payroll $2,500 $6,340 $6,340 $6,340 $10,180 $10,180 $10,180 $10,180 $10,180 $10,180 $10,180 $10,180
Sales and Marketing and Other Expenses $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250
Depreciation $236 $236 $236 $236 $236 $236 $236 $236 $236 $236 $236 $236
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125
Insurance $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Rent $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800
Payroll Taxes 15% $375 $951 $951 $951 $1,527 $1,527 $1,527 $1,527 $1,527 $1,527 $1,527 $1,527
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $4,436 $8,852 $8,852 $8,852 $13,268 $13,268 $13,268 $13,268 $13,268 $13,268 $13,268 $13,268
Profit Before Interest and Taxes ($4,436) ($6,875) ($6,515) ($4,662) ($7,058) ($6,639) ($5,580) ($3,729) ($1,613) ($255) $1,470 $2,987
EBITDA ($4,200) ($6,639) ($6,279) ($4,426) ($6,822) ($6,403) ($5,344) ($3,493) ($1,377) ($19) $1,706 $3,223
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 ($4,436) ($6,875) ($6,515) ($4,662) ($7,058) ($6,639) ($5,580) ($3,729) ($1,613) ($255) $1,470 $2,987
Net Profit/Sales 0.00% -295.57% -237.01% -94.55% -96.60% -85.12% -61.69% -33.23% -11.76% -1.66% 8.48% 15.62%
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 $0 $814 $962 $1,726 $2,557 $2,730 $3,166 $3,928 $4,799 $5,359 $6,069 $6,693
Cash from Receivables $0 $0 $50 $1,521 $1,834 $3,256 $4,760 $5,096 $5,926 $7,348 $8,947 $9,995
Subtotal Cash from Operations $0 $814 $1,013 $3,247 $4,391 $5,986 $7,925 $9,024 $10,726 $12,707 $15,016 $16,689
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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,000 $0 $0
Subtotal Cash Received $0 $814 $1,013 $3,247 $4,391 $5,986 $7,925 $9,024 $10,726 $15,707 $15,016 $16,689
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 $2,500 $6,340 $6,340 $6,340 $10,180 $10,180 $10,180 $10,180 $10,180 $10,180 $10,180 $10,180
Bill Payments $57 $1,731 $2,627 $2,699 $3,047 $3,950 $4,028 $4,220 $4,548 $4,917 $5,159 $5,462
Subtotal Spent on Operations $2,557 $8,071 $8,967 $9,039 $13,227 $14,130 $14,208 $14,400 $14,728 $15,097 $15,339 $15,642
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 $0 $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 $2,557 $8,071 $8,967 $9,039 $13,227 $14,130 $14,208 $14,400 $14,728 $15,097 $15,339 $15,642
Net Cash Flow ($2,557) ($7,257) ($7,954) ($5,793) ($8,835) ($8,145) ($6,283) ($5,376) ($4,002) $610 ($323) $1,047
Cash Balance $54,843 $47,587 $39,632 $33,839 $25,004 $16,859 $10,577 $5,201 $1,199 $1,809 $1,486 $2,533
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 $57,400 $54,843 $47,587 $39,632 $33,839 $25,004 $16,859 $10,577 $5,201 $1,199 $1,809 $1,486 $2,533
Accounts Receivable $0 $0 $1,512 $3,248 $4,932 $7,847 $9,660 $10,780 $12,978 $15,964 $18,567 $20,890 $23,325
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $57,400 $54,843 $49,099 $42,880 $38,771 $32,851 $26,519 $21,356 $18,179 $17,163 $20,376 $22,376 $25,858
Long-term Assets
Long-term Assets $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500
Accumulated Depreciation $0 $236 $472 $708 $944 $1,180 $1,416 $1,652 $1,888 $2,124 $2,360 $2,596 $2,832
Total Long-term Assets $8,500 $8,264 $8,028 $7,792 $7,556 $7,320 $7,084 $6,848 $6,612 $6,376 $6,140 $5,904 $5,668
Total Assets $65,900 $63,107 $57,127 $50,672 $46,327 $40,171 $33,603 $28,204 $24,791 $23,539 $26,516 $28,280 $31,526
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 $2,537 $2,599 $2,915 $3,816 $3,888 $4,068 $4,384 $4,745 $4,977 $5,271 $5,530
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 $2,537 $2,599 $2,915 $3,816 $3,888 $4,068 $4,384 $4,745 $4,977 $5,271 $5,530
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $1,643 $2,537 $2,599 $2,915 $3,816 $3,888 $4,068 $4,384 $4,745 $4,977 $5,271 $5,530
Paid-in Capital $67,000 $67,000 $67,000 $67,000 $67,000 $67,000 $67,000 $67,000 $67,000 $67,000 $70,000 $70,000 $70,000
Retained Earnings ($1,100) ($1,100) ($1,100) ($1,100) ($1,100) ($1,100) ($1,100) ($1,100) ($1,100) ($1,100) ($1,100) ($1,100) ($1,100)
Earnings $0 ($4,436) ($11,311) ($17,826) ($22,488) ($29,546) ($36,185) ($41,764) ($45,494) ($47,106) ($47,361) ($45,891) ($42,904)
Total Capital $65,900 $61,464 $54,589 $48,074 $43,412 $36,354 $29,716 $24,136 $20,406 $18,794 $21,539 $23,009 $25,996
Total Liabilities and Capital $65,900 $63,107 $57,127 $50,672 $46,327 $40,171 $33,603 $28,204 $24,791 $23,539 $26,516 $28,280 $31,526
Net Worth $65,900 $61,464 $54,589 $48,074 $43,412 $36,354 $29,716 $24,136 $20,406 $18,794 $21,539 $23,009 $25,996