Don't bother with copy and paste.

Get this complete sample business plan as a free text document.

Download for free

Catering & Food Truck icon Catering and Ballroom Rental Business Plan

Start your plan

Sumptuous Cuisine Catering

Executive Summary

Sumptuous Cuisine Catering is a local catering company serving both business and private clients in Doeuvreville and the surrounding towns within a ten mile radius. Established in 2005, the business has operated a catering kitchen and specialized in full-service catering and event planning for upscale events in the region. The business event management, event staff, a variety of cuisine for breakfasts, lunches, dinners, and appetizers, alcoholic and non-alcoholic beverage service, floral design, space design and decor, musicians and DJs, event equipment and furniture rentals, and other event services. Sumptuous Cuisine Catering seeks to expand its operations to a dedicated venue, called The Sumptuous Ballroom, located in Doeuvreville, with a mortgage on the space, its own cash reserves and the issuing of a convertible debt to angel investors.

The addition of The Sumptuous Ballroom to the services provided by Sumptuous Cuisine Catering will enable gross margins to rise above their previous levels and industry averages as rentals of space provide high gross margins. Both existing and new clients will be interested in using this space, and in the additional services Sumptuous Cuisine Catering provides. Top line sales will grow from their current level in 2009 to more than double in 2012. Net profits will rise three-fold from 2010 to 2012 after this acquisition, even with the expected increases in operating expenses. Sumptuous Cuisine Catering will seek to utilize the space on at least 40% of days by the end of year 3 to achieve these results.

Catering and ballroom rental business plan, executive summary chart image

Objectives

Sumptuous Cuisine Catering has set the following objectives for the first three years of the launch of its ballroom:

  • Renovate and upgrade the interior of the ballroom
  • Hire and retain a facilities manager to run the logistics of the new space
  • Produce a positive return on investment for the ballroom acquisition by the end of the second year
  • Utilize the ballroom on 40% of days by the end of the third year

Mission

Sumptuous Cuisine Catering offers top-class event experiences with flawless execution to business and private clients in the Doeuvreville area. With Sumptuous Cuisine Catering running your event, the food will be delicious, the service will be excellent and the guests will be wowed.

Keys to Success

Keys to success in the catering and event business include:

  • Managing and exceeding client expectations
  • Balancing expert opinions and advice with care for the client’s preferences and vision
  • Exhibiting a sense of professional showmanship on the day of the event – the show must go on
  • Protecting the client’s interests and liability even when it requires unpopular decisions

Sumptuous Cuisine Catering keeps these keys in mind through all events they have managed and catered in the past and will renew their efforts as they open their own catering venue.

LivePlan Logo

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Create Your Plan

Company Summary

Sumptuous Cuisine Catering is a local catering company serving both business and private clients in Doeuvreville and the surrounding towns within a ten mile radius. Established in 2005, the business has operated a catering kitchen and specialized in full-service catering and event planning for upscale events in the region both at client sites and at event spaces and halls. The business became the in-house caterer at Corporate Hall, a corporate meeting space, in Doeuvreville in 2008, and has developed expertise related to managing client events and event planning. For most events, Sumptuous Cuisine Catering provides referrals to additional vendors, manages client rental equipment needs, and provides event management expertise on the day of the event.

Company Ownership

Sumptuous Cuisine Catering was founded by partners Rudy Electrum and Tosca Cabrini. Built from the ground up by these partners, Rudy owns 49% of the business and Tosca 51%. The business is established as an LLC.

10% of shares will be given to angel investors who purchase $270,000 in convertible debt to help to finance the expansion of Sumptuous Cuisine Catering. This will dilute Electrum’s shares to 44% and Cabrini’s shares to 46%.

Company History

Over the past three years, Sumptuous Cuisine Catering has made significant advances, developing its core business significantly after somewhat slow growth for its first two years of operation. Gross and operating margins have steadily improved and the business has continued to invest in kitchen and delivery equipment, as well as some of its own event furniture.

Sales have grown due to increasing partnerships with venues, like Corporate Hall, and event planners, like Jackie Lyman Associates and Your Perfect Event LLC which refer clients and subcontract work to Sumptuous Cuisine Catering. These referrals and partnerships have accounted for 75% of growth in the past three years. Corporate Hall alone accounted for 15% of sales in 2009. The remaining growth has been due to new client acquisition through marketing and referrals to clients directly.

Inventory has historically included raw materials for food as well as beverages and liquor. These have been accounted for as inventory and attributed to cost of sales for each job. Cost of sales has also included hourly wages to cater-waiters, event managers and other event staff, fuel for delivery, and supplies for the event (paper napkins, etc). Cost of sales also includes vendor subcontractors who the client pays through Sumptuous Cuisine Catering (generally rental equipment, florists, designers and musicians/DJs). Sumptuous Cuisine Catering lets clients contract directly when they prefer and recommends they contract directly with audio-visual and lighting providers.

Operating expenses have dropped from 45% of sales to 40% of sales over these previous three years, while they have grown by $150,000 in absolute value.

Catering and ballroom rental business plan, company summary chart image

Past Performance
2007 2008 2009
Sales $1,000,000 $1,300,000 $1,500,000
Gross Margin $550,000 $741,000 $885,000
Gross Margin % 55.00% 57.00% 59.00%
Operating Expenses $450,000 $552,500 $600,000
Collection Period (days) 51 58 78
Inventory Turnover 32.14 38.55 39.68
Balance Sheet
2007 2008 2009
Current Assets
Cash $150,000 $200,000 $300,000
Accounts Receivable $41,667 $83,333 $108,333
Inventory $14,000 $15,000 $16,000
Other Current Assets $2,500 $2,500 $2,500
Total Current Assets $208,167 $300,833 $426,833
Long-term Assets
Long-term Assets $75,000 $85,000 $90,000
Accumulated Depreciation $20,000 $27,500 $40,000
Total Long-term Assets $55,000 $57,500 $50,000
Total Assets $263,167 $358,333 $476,833
Current Liabilities
Accounts Payable $37,500 $46,042 $50,000
Current Borrowing $0 $0 $0
Other Current Liabilities (interest free) $0 $0 $0
Total Current Liabilities $37,500 $46,042 $50,000
Long-term Liabilities $5,000 $2,500 $0
Total Liabilities $42,500 $48,542 $50,000
Paid-in Capital $200,000 $200,000 $200,000
Retained Earnings $667 $59,792 $151,833
Earnings $20,000 $50,000 $75,000
Total Capital $220,667 $309,792 $426,833
Total Capital and Liabilities $263,167 $358,333 $476,833
Other Inputs
Payment Days 30 30 30
Sales on Credit $300,000 $390,000 $450,000
Receivables Turnover 7.20 4.68 4.15

LivePlan Logo

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Create Your Plan

Products and Services

Sumptuous Cuisine Catering currently offers the following products and services:

  • Event management
  • Coat-check, door check, and restroom attendants
  • A variety of cuisine for breakfasts, lunches, dinners, and appetizers
  • Non-alcoholic, wine, beer, and liquor beverage service
  • Wait service

Through subcontractors, Sumptuous Cuisine Catering offers:

  • Floral design
  • Space design and decor
  • Musicians and DJs
  • Event equipment and furniture rentals
  • Cakes

Through referrals, Sumptuous Cuisine Catering offers:

  • Lighting
  • Audio-visual rentals and support
  • Event security
  • Valet service

Future plans include the following additions with the opening of The Sumptuous Ballroom:

  • Ballroom rentals for half-day or full-day timespans
  • Space rental with a per-head full-service catering fee or as a fee separate from catering and beverage
  • Facility management service
LivePlan Logo

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Create Your Plan

Market Analysis Summary

The catering industry serves private, corporate, and non-profit events with food, drinks, event management and other services. Events are generally held by clients in order to celebrate, communicate, or both.

  • Celebration: Parties and banquets as part of key events in life (birthdays, weddings, bar and bat mitzvahs, engagements, bridal and baby showers, retirement parties, etc.) or for a business (holiday or end-of-year parties, retirements, honoree galas, etc.)
  • Communication: Events to communicate a message for the benefit of attendees or the press (product launches, press events, trade shows, conferences, presentations, lectures, fundraisers) or to stimulate discussion (corporate meetings, summits, etc.)

The U.S. market for caterers was estimated at $6.9 billion in 2008 by IBISWorld. The market is prone to economic cycles, as events, especially corporate events, are one of the first expenses cut during a downturn. Celebratory events may be scaled back a bit, but are generally not canceled during a downturn (i.e., spending on weddings, bar mitzvahs, etc., continues). The industry contracted by 1.5% in 2008 due the economic downturn and a similar decline is apparent for 2009. In 2010 the industry is expected to return to positive growth. The industry is relatively mature, as 33,000 catering companies serve the U.S., or one company for every 9,000 Americans.

There is a movement towards horizontal integration in the greater event industry, with some full-service event providers growing to provide entertainment, audio-visual and technology, catering, rentals, decor, venues and more. Businesses that provide these additional services may take on assets that are not as fully utilized as a specialist’s would be, but they can earn greater margins on the sales they make. With its opening of The Sumptuous Ballroom, Sumptuous Cuisine Catering will become part of this integration movement.

Market Segmentation

The market analysis chart is provided for the Doeuvreville area in a radius of ten miles.

The corporate market is defined as businesses which hold at least one off-site event each year. Businesses often have A/V and public relations needs in concert with their events which may serve a marketing function for the business. Whether entertaining the press, clients, or board members, businesses require professional execution, delicious food and drinks, and alignment between the event managers/caterers and their business’s objectives for the event.

The private market includes households with a combined household income of over $80,000 per year (those most likely to throw an upscale event in a rented venue). This group puts a great deal of pressure on caterers and requires added attention, as lavish events may be uncommon for them. They require hands-on work and planning as well as expert advice and referrals throughout the process.

The non-profit market is defined as non-profit organizations which hold at least one off-site event each year. Very price conscious, the non-profit market looks for in-kind donations and discounted services whenever possible. Some non-profits realize the benefit of paying for great events which lead, in kind, to improved perception of the organization and donations, while others will take the lowest price available at the minimal quality level acceptable.

Catering and ballroom rental business plan, market analysis summary chart image

Market Analysis
2010 2011 2012 2013 2014
Potential Customers Growth CAGR
Corporate 1% 2,500 2,525 2,550 2,576 2,602 1.00%
Private 2% 25,000 25,500 26,010 26,530 27,061 2.00%
Non-Profit 1% 500 505 510 515 520 0.99%
Total 1.89% 28,000 28,530 29,070 29,621 30,183 1.89%

Target Market Segment Strategy

Sumptuous Cuisine Catering has, traditionally, targeted the private and corporate markets primarily. They will continue this focus with the launch of The Sumptuous Ballroom. Private clients, although requiring additional labor and handholding, can be charged somewhat higher rates than corporate clients. Furthermore, they help to “recession-proof” the business by providing steadier revenue streams in economic downturns.

Corporate business can lead to repeat engagements with clients who have annual or even quarterly events and are more valuable as clients to acquire than private clients, even though the margin percentages are lower on each event.

Non-profit clients generally seek lower cost providers and venues and, while they do seek out Sumptuous Cuisine Catering without much marketing to that group, the company’s bids are generally does not accepted. Sumptuous Cuisine Catering will continue to choose specific non-profits to sponsor events for to create visibility for strategic purposes or based on the charitable interests of the owners, but will not market directly to non-profits.

Service Business Analysis

The catering industry is extremely fragmented, with 33,000 companies across the United States. Customers find caterers through referrals, online searches, Yellow Pages, and through businesses which run restaurants they are already familiar with. They will generally contact the catering company by phone to discuss the details of their events directly.

Some businesses and private clients hire event planners or producers to handle the details of their event, including choice of caterer. In this case, these firms, which are more familiar with the industry, may act as a buffer between the end client and the caterer, sometimes making the process of planning smoother.  

Competition and Buying Patterns

Key competitors of Sumptuous Cuisine Catering include:

  • Fancy Fetes: An upscale caterer which is the in-house caterer at the King’s Room, a Doeuvreville area private event space (weddings, bar mitzvahs, etc.)
  • Food For Thought: An American cuisine caterer which provides simple drop-off service as well as full-service catering
  • Pandora’s: An upscale Italian restaurant which caters a variety of events primarily for private clients

Doeuvreville area customers choose caterers for their events based on the following characteristics:

  • Cuisine Options: Private clients will often seek out caterers who can offer, or specialize in, specific cuisine. Businesses looking to use a caterer multiple times are more likely to seek a caterer who can serve many different cuisine so they can vary the options from event to event (or even within a given event) to better please their clients or guests.
  • Quality: Quality is determined through reviews and references as well as through tastings of the food. Basic quality is a must, but high-quality is sought out for once-in-a-lifetime private events and the fanciest of business functions.
  • Added Services: Private clients and businesses/non-profits who are relatively new to event planning will prefer caterers who offer a wide range of event services (one-stop shops if possible) rather than working with half a dozen separate event vendors.
  • Price: Especially for corporate and non-profit customers, price is a key factor. Businesses seek discounted rates for a higher volume of events, which private clients cannot provide.

Sumptuous Cuisine Catering offers a range of cuisine options, high quality, and added services based on the one-stop shop model. The business does not compete on price and offers services at prices higher than average for caterers in general and on the upper side of options for the Doeuvreville area.

LivePlan Logo

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Create Your Plan

Strategy and Implementation Summary

Sumptuous Cuisine Catering intends to open The Sumptuous Ballroom, an event venue in Doeuvreville. The ballroom will be purchased from the previous owner, the city of Doeuvreville, which used the space as a community center until it was abandoned one year ago. After renovations, the ballroom will create synergy with Sumptuous Cuisine Catering’s business by offering a location to bring in current and future clients who will also utilize both the catering and event planning services of Sumptuous Cuisine Catering.

Sumptuous Cuisine Catering will:

  • Target high net-worth private clients and corporate clients
  • Take on dedicated facility management and salespeople for The Sumptuous Ballroom
  • Use a combination of existing and new marketing tactics to promote the space

Competitive Edge

Sumptuous Cuisine Catering will create a competitive edge in Doeuvreville by becoming a true “one-stop-shop” for all-inclusive events with the purchase of The Sumptuous Ballroom. Clients will not have to work with multiple vendors, but can work directly with their assigned Sumptuous Cuisine Catering account executive for all of their event planning and vendor coordination needs.

Currently, competitors in the Doeuvreville area do not offer the same combination of upscale catering, track record, flexibility of cuisine, and a beautiful venue which Sumptuous Cuisine Catering will be able to offer.

Marketing Strategy

Sumptuous Cuisine Catering will focus its marketing for their new ballroom on the corporate and private upscale event markets. The business will use the following media and tactics to reach this audience:

  • Advertise in Doeuvreville Magazine, a local luxury-focused magazine with half-page color ads showing a photo of the new space
  • Develop a website for The Sumptuous Ballroom which is separate from, but linked to, the Sumptuous Cuisine Catering site
  • Promote the website through search engine optimization and search engine marketing around event and rental keywords for the local area
  • Revise the Sumptuous Cuisine Catering brochure to include the new ballroom in a featured location
  • Email campaign of an e-brochure announcing the new space to all past and current clients
  • Create and send press kit with information and details on the new space to key clients and press
  • Create a featured listing on BizBash.com, a website devoted to event resources and venues focused at the corporate market
  • Promote introductory spring and summer rates to encourage early rentals (the normal rate of $2,500 will be discounted to $2,000 during this period)
  • Promote the space at local summer business fair
  • Sponsor 4 non-profit events per year, all chosen for the exposure they receive to the press and to high net worth individuals

Sales Strategy

Traditionally, the sales strategy of Sumptuous Cuisine Catering has been spearheaded by Rudy Electrum and two staff account managers who each handle a portfolio of clients. Rudy focuses on new business development and relies on the account managers to service, retain clients, and develop their business by encouraging them to use Sumptuous Cuisine Catering for more events.

This sales strategy will continue with the opening of The Sumptuous Ballroom. Rentals at the ballroom will be promoted by all staff when they work with clients. An additional salesperson will field inquiries made directly about The Sumptuous Ballroom rentals to handle the additional volume of work required to increase the utilization of this space. Salespeople will be added for The Sumptuous Ballroom over the first three years of its operations as business grows. These salespeople will have the same training and knowledge of all of Sumptuous Cuisine Catering’s services, but will work only with clients interested in events at the ballroom.

Sales Forecast

Renovation of The Sumptuous Ballroom will occur in the first three months of 2010, preparing for a March 15 opening of the space.

Off-site food and beverage has traditionally been the largest revenue stream for Sumptuous Cuisine Catering, as this is the driver behind all of the other revenue streams. Subcontracted services, staffing, referral fees, and event planning are only offered when there is a core food and beverage package sold for an event. The F & B for The Sumptuous Ballroom events has been separated out for separate tracking, going forward, as have venue rentals of The Sumptuous Ballroom.

A typical event is a $10,000 food and beverage package with $5,000 in subcontracted services, $8,000 in staffing, and $1,500 in event planning fees. Typical events at The Sumptuous Ballroom will also incur a ballroom rental of $2,500 as a base fee.

The F & B cost is low, at 25% of the combined off-site and The Sumptuous Ballroom F & B revenues. Ingredients are purchased in bulk whenever possible at wholesale rates. A high markup can be earned on food and an even higher markup on liquor, which can sometimes cost as little as 15% of sales.

The cost of hourly event staff (bartenders, waiters, coat check, door check, restroom attendants, event managers, etc.) is recognized on the P & L statement under other cost of sales.

The Sumptuous Ballroom revenues will scale up sharply in the first year as the space is better utilized, but this growth will level off in years 2 and 3 as not all event dates are as desirable to clients and the most popular dates will book first. This projection incorporates the objective that the ballroom be utilized on 50% of days by the end of year 3.

Sumptuous Cuisine Catering expects that the existing line of business events at Corporate Hall will continue even with the addition of its own space, The Sumptuous Ballroom, because Corporate Hall hosts primarily smaller meetings than can be accommodated at The Sumptuous Ballroom. Sumptuous Cuisine Catering considers the two spaces to not be in direct competition. The relationship with Corporate Hall will allow Sumptuous Cuisine Catering to refer smaller meetings to that space, perhaps helping to build business at Corporate Hall through new inquiries.

Catering and ballroom rental business plan, strategy and implementation summary chart image

Catering and ballroom rental business plan, strategy and implementation summary chart image

Sales Forecast
2010 2011 2012
Sales
Off-Site Food & Beverage $784,537 $941,444 $1,129,733
Sumptuous Ballroom Food & Beverage $79,687 $103,593 $134,671
Subcontracted Services $354,801 $425,761 $510,913
Ballroom Rentals $168,750 $236,250 $307,125
Staffing $648,168 $783,778 $948,303
Referral Fees/Commissions $108,028 $130,630 $158,051
Event Planning $108,028 $130,630 $158,051
Total Sales $2,251,998 $2,752,086 $3,346,846
Direct Cost of Sales 2010 2011 2012
Food and Beverage Cost $216,056 $261,259 $316,101
Other $0 $0 $0
Subtotal Direct Cost of Sales $216,056 $261,259 $316,101

Milestones

The milestones listed are the key steps to launching The Sumptuous Ballroom.

Renovation of the space will be directed by CEO, Tosca Cabrini, with insight from all staff. The work will be directed by a renovations contractor who will subcontract work to electricians, plumbers, painters, floor specialists, etc

The other activities come under the marketing umbrella of Antero MacDougal, Sumptuous Cuisine Catering’s marketing director. The preparations will be made while the venue is being renovated, although finished photos of the new space will not be available until renovation is complete.

Introductory rates will reduce the rate of 100 events by $500 to encourage first-time rentals of the ballroom.

Catering and ballroom rental business plan, strategy and implementation summary chart image

Milestones
Milestone Start Date End Date Budget Manager Department
Renovate Space 1/1/2010 3/15/2010 $100,000 TC Operations
Open Venue 3/15/2010 3/15/2010 $0 TC Operations
Create The Sumptuous Ballroom Website 2/1/2010 2/28/2010 $10,000 JR Marketing
Revise & print brochure 2/1/2010 2/28/2010 $5,000 JR Marketing
Introductory Rates 3/15/2010 8/31/2010 $50,000 JR Marketing
Summer Business Fair 7/9/2010 7/20/2010 $5,000 JR Marketing
Email Campaign 3/15/2010 3/31/2010 $500 JR Marketing
Advertise Locally 3/15/2010 4/15/2010 $10,000 JR Marketing
Press Kit & Campaign 3/15/2010 4/15/2010 $2,000 JR Marketing
Totals $182,500

LivePlan Logo

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Create Your Plan

Management Summary

Sumptuous Cuisine Catering is directed by CEO Rudy Electrum. Second-in-command is COO Tosca Cabrini.

Electrum heads sales and strategy for the business, in close consultation with Cabrini. Cabrini manages the operations of the kitchen, human resources (hiring and training) and finances.

Marketing is directed and executed by Antero MacDougal. MacDougal is the liaison to outside graphic and Web designers and other marketing service firms used by Sumptuous Cuisine Catering. MacDougal reports to the CEO.

The Facility Manager will be hired to act as a manager of the hall. This will include providing information to vendors setting up in the space, providing access to the clients for set-up, light maintenance and repairs, contracting vendors for heavier repair work, and setting up cleanings of the space. The Facility Manager will have a small office at The Sumptuous Ballroom and will work during the daytime. Event managers from the catering staff will be present during the events. The Facility Manager will be trained by and report to the COO.

Personnel Plan

The personnel table shows full-time personnel only.

A full-time administrative assistant keeps the books for the business and process A/R and A/P.

Sales staff, beginning at one, are managed by the CEO. A salesperson will be added in year 2 and again in year 3. The new salespeople will be dedicated to sales of The Sumptuous Ballroom and will work on salary plus a 3% commission on sales.

The kitchen is staffed by a salaried head cook and one assistant cook paid by the hour.

Events are staffed by a roster of 30 event managers, cater-waiters, bartenders, and other staff. Most staff are cross-trained between the various roles.

Personnel Plan
2010 2011 2012
CEO $84,000 $87,360 $90,854
COO $72,000 $74,880 $77,875
Marketing Director $60,000 $62,400 $64,896
Salespeople $48,000 $97,440 $149,083
Administrative Assistant $48,000 $49,920 $51,917
Head Cook $60,000 $62,400 $64,896
Assistant Cooks $48,000 $49,920 $51,917
Facility Manager $54,000 $56,160 $58,406
Total People 8 9 10
Total Payroll $474,000 $540,480 $609,845

LivePlan Logo

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Create Your Plan

Financial Plan

Sumptuous Cuisine Catering will fund its expansion largely though its own cash reserves and a loan for the purchase of The Sumptuous Ballroom.

The funds needed include:

  • $2 million for purchase of The Sumptuous Ballroom
  • $100,000 for improvements
  • $50,000 for equipment for the ballroom
  • $82,500 for marketing devoted to The Sumptuous Ballroom acquisition

Sources for the funds include:

  • $1.6 million mortgage
  • $270,000 in convertible debt from investors for an equity stake of 10% in Sumptuous Cuisine Catering (diluting the current ownership equally) and 10% interest paid over three years. Likely investors include family and angel investors interested in lower risk than in a start-up firm, along with some guaranteed returns
  • $300,000 in cash reserves of Sumptuous Cuisine Catering
  • Cash flow surpluses in the later half of 2010 to make up the remainder

The business will return to stronger profits and gross margins after the acquisition.

Important Assumptions

The table below presents the assumptions used in the financial calculations of this business plan.

Break-even Analysis

Due to the high fixed costs of the venue, the monthly break even is rather high, as shown below. This would be approximately 9-10 events at $10,000 per event. Revenue is higher for The Sumptuous Ballroom events due to the ballroom rental fee and greater leverage to provide additional services to clients, than for revenue from off-site events.

Catering and ballroom rental business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $93,206
Assumptions:
Average Percent Variable Cost 10%
Estimated Monthly Fixed Cost $84,264

Projected Profit and Loss

Gross margins will improve for the business as ballroom rentals build as a revenue stream. Facility rentals do not have a direct cost of sales, although higher fixed costs are associated with The Sumptuous Ballroom than with the core business.

Subcontracted services are the other major cost of sales category, and incur a higher cost of sales, at 80% of subcontracted services sold, than other categories. These services (like floral design, rental furniture, etc.) are discounted by the vendors because of their relationship with Sumptuous Cuisine Catering. The effect is that Sumptuous Cuisine Catering bills these services on to clients at the vendor’s advertised rates and takes their margin of 20% on those revenues.

Marketing will be higher in the first year to accommodate the additional marketing activities described in the marketing strategy and milestones table. Depreciation will be for the existing equipment in the catering kitchen and for the installed sound and networking equipment in the venue.

Rent is for the catering kitchen and office only, as the ballroom will be purchased by the business. Utilities will be much higher than previously due to the high electric, heating, and air conditioning costs of the new space compared with the kitchen and office alone. Insurance also must increase significantly from previous levels due to the need for general liability for the space and guests.

Payroll taxes are 15% of payroll (which includes the event staff cost of sales) and employee benefits (including health insurance, 401K contributions for employees who with tenure over 2 years, vacation and sick pay) are 10% of payroll and event staff costs.

Office expenses cover maintenance of computer equipment and sundry supplies for the office. Facility cleaning and maintenance includes a budget for $200 of maintenance and an estimate for cleaning which will grow as use of the ballroom scales up. Cleaning will be provided by an outside vendor and managed by the Facility Manager.

Catering and ballroom rental business plan, financial plan chart image

Catering and ballroom rental business plan, financial plan chart image

Catering and ballroom rental business plan, financial plan chart image

Catering and ballroom rental business plan, financial plan chart image

Pro Forma Profit and Loss
2010 2011 2012
Sales $2,251,998 $2,752,086 $3,346,846
Direct Cost of Sales $216,056 $261,259 $316,101
Event Staff $382,840 $467,855 $568,964
Subcontracted Services $283,841 $340,609 $408,730
Total Cost of Sales $882,736 $1,069,723 $1,293,795
Gross Margin $1,369,262 $1,682,363 $2,053,051
Gross Margin % 60.80% 61.13% 61.34%
Expenses
Payroll $474,000 $540,480 $609,845
Marketing/Promotion $106,000 $100,000 $100,000
Depreciation $28,000 $28,000 $28,000
Rent $24,000 $25,200 $26,460
Utilities $7,959 $9,000 $10,000
Insurance $36,000 $37,440 $38,938
Payroll Taxes $128,526 $151,250 $176,821
Employee Benefits $85,684 $100,833 $117,881
Office Expenses $6,000 $6,500 $7,000
Facility Cleaning & Maintenance $115,000 $137,804 $167,542
Total Operating Expenses $1,011,168 $1,136,508 $1,282,487
Profit Before Interest and Taxes $358,094 $545,855 $770,564
EBITDA $386,094 $573,855 $798,564
Interest Expense $181,222 $171,000 $160,333
Taxes Incurred $53,061 $112,457 $183,069
Net Profit $123,810 $262,399 $427,162
Net Profit/Sales 5.50% 9.53% 12.76%

Projected Cash Flow

The projected cash flow table and chart show the business’s investment in The Sumptuous Ballroom, a $2 million purchase. The asset will be purchased with 20% down and a $1.6 million 15-year mortgage. An additional $270,000 in convertible debt will be raised at 10% interest for three years.

In addition to this investment, $50,000 in depreciable assets will be purchased (sound system, office set-up for the facility). Small investments in replacing these assets and augmenting them with strategic purchases will be made in future years. Current assets ($100,000) purchased will include signage and improvements to the venue.

The business will reach cash flow break-even in July 2010.

Catering and ballroom rental business plan, financial plan chart image

Pro Forma Cash Flow
2010 2011 2012
Cash Received
Cash from Operations
Cash Sales $1,125,999 $1,376,043 $1,673,423
Cash from Receivables $1,055,339 $1,336,295 $1,626,150
Subtotal Cash from Operations $2,181,338 $2,712,337 $3,299,573
Additional Cash Received
Sales Tax, VAT, HST/GST Received $180,160 $220,167 $267,748
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $1,870,000 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
Subtotal Cash Received $4,231,498 $2,932,504 $3,567,321
Expenditures 2010 2011 2012
Expenditures from Operations
Cash Spending $474,000 $540,480 $609,845
Bill Payments $1,508,109 $1,928,419 $2,254,866
Subtotal Spent on Operations $1,982,109 $2,468,899 $2,864,711
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $180,160 $220,167 $267,748
Principal Repayment of Current Borrowing $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal Repayment $106,668 $106,668 $106,668
Purchase Other Current Assets $100,000 $0 $0
Purchase Long-term Assets $2,050,000 $5,000 $5,000
Dividends $0 $0 $0
Subtotal Cash Spent $4,418,937 $2,800,734 $3,244,127
Net Cash Flow ($187,439) $131,771 $323,194
Cash Balance $112,561 $244,331 $567,526

Projected Balance Sheet

The balance sheet shows the increasing strength of the business as its mortgage is paid off and profits are earned from the expansion of the business. Accounts payable will rise significantly from previous levels due to the added expenses taken on by the business when The Sumptuous Ballroom opens.

Pro Forma Balance Sheet
2010 2011 2012
Assets
Current Assets
Cash $112,561 $244,331 $567,526
Accounts Receivable $178,994 $218,742 $266,015
Inventory $11,664 $13,163 $15,936
Other Current Assets $102,500 $102,500 $102,500
Total Current Assets $405,719 $578,737 $951,976
Long-term Assets
Long-term Assets $2,140,000 $2,145,000 $2,150,000
Accumulated Depreciation $68,000 $96,000 $124,000
Total Long-term Assets $2,072,000 $2,049,000 $2,026,000
Total Assets $2,477,719 $2,627,737 $2,977,976
Liabilities and Capital 2010 2011 2012
Current Liabilities
Accounts Payable $163,743 $158,031 $187,776
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $163,743 $158,031 $187,776
Long-term Liabilities $1,763,332 $1,656,664 $1,549,996
Total Liabilities $1,927,075 $1,814,695 $1,737,772
Paid-in Capital $200,000 $200,000 $200,000
Retained Earnings $226,833 $350,643 $613,042
Earnings $123,810 $262,399 $427,162
Total Capital $550,643 $813,042 $1,240,204
Total Liabilities and Capital $2,477,719 $2,627,737 $2,977,976
Net Worth $550,643 $813,042 $1,240,204

Business Ratios

The table compares the business ratios of Sumptuous Cuisine Catering to caterers in the $1 million to $5 million revenue category. Caterers with banquet halls are covered by NAICS industry code 722320, or SIC code 5812.

Ratio Analysis
2010 2011 2012 Industry Profile
Sales Growth 50.13% 22.21% 21.61% 1.65%
Percent of Total Assets
Accounts Receivable 7.22% 8.32% 8.93% 3.53%
Inventory 0.47% 0.50% 0.54% 6.34%
Other Current Assets 4.14% 3.90% 3.44% 43.25%
Total Current Assets 16.37% 22.02% 31.97% 53.12%
Long-term Assets 83.63% 77.98% 68.03% 46.88%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 6.61% 6.01% 6.31% 25.40%
Long-term Liabilities 71.17% 63.05% 52.05% 73.91%
Total Liabilities 77.78% 69.06% 58.35% 99.31%
Net Worth 22.22% 30.94% 41.65% 0.69%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 60.80% 61.13% 61.34% 58.06%
Selling, General & Administrative Expenses 55.30% 51.60% 48.58% 23.02%
Advertising Expenses 4.71% 3.63% 2.99% 1.74%
Profit Before Interest and Taxes 15.90% 19.83% 23.02% 6.52%
Main Ratios
Current 2.48 3.66 5.07 1.25
Quick 2.41 3.58 4.98 1.00
Total Debt to Total Assets 77.78% 69.06% 58.35% 99.31%
Pre-tax Return on Net Worth 32.12% 46.11% 49.20% 4325.19%
Pre-tax Return on Assets 7.14% 14.27% 20.49% 29.65%
Additional Ratios 2010 2011 2012
Net Profit Margin 5.50% 9.53% 12.76% n.a
Return on Equity 22.48% 32.27% 34.44% n.a
Activity Ratios
Accounts Receivable Turnover 6.29 6.29 6.29 n.a
Collection Days 44 53 53 n.a
Inventory Turnover 24.00 21.05 21.73 n.a
Accounts Payable Turnover 9.90 12.17 12.17 n.a
Payment Days 28 31 28 n.a
Total Asset Turnover 0.91 1.05 1.12 n.a
Debt Ratios
Debt to Net Worth 3.50 2.23 1.40 n.a
Current Liab. to Liab. 0.08 0.09 0.11 n.a
Liquidity Ratios
Net Working Capital $241,975 $420,706 $764,200 n.a
Interest Coverage 1.98 3.19 4.81 n.a
Additional Ratios
Assets to Sales 1.10 0.95 0.89 n.a
Current Debt/Total Assets 7% 6% 6% n.a
Acid Test 1.31 2.19 3.57 n.a
Sales/Net Worth 4.09 3.38 2.70 n.a
Dividend Payout 0.00 0.00 0.00 n.a

LivePlan Logo

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Create Your Plan

Appendix

Sales Forecast
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Sales
Off-Site Food & Beverage $50,000 $52,500 $55,125 $57,881 $60,775 $63,814 $67,005 $69,685 $72,472 $75,371 $78,386 $81,522
Sumptuous Ballroom Food & Beverage $0 $0 $5,000 $5,500 $6,050 $6,655 $7,321 $8,053 $8,858 $9,744 $10,718 $11,790
Subcontracted Services $25,000 $25,750 $26,523 $27,318 $28,138 $28,982 $29,851 $30,747 $31,669 $32,619 $33,598 $34,606
Ballroom Rentals $0 $0 $5,000 $7,500 $11,250 $13,750 $16,250 $18,750 $21,250 $23,750 $25,000 $26,250
Staffing $37,500 $39,375 $45,094 $47,536 $50,119 $52,852 $55,744 $58,303 $60,998 $63,836 $66,828 $69,983
Referral Fees/Commissions $6,250 $6,563 $7,516 $7,923 $8,353 $8,809 $9,291 $9,717 $10,166 $10,639 $11,138 $11,664
Event Planning $6,250 $6,563 $7,516 $7,923 $8,353 $8,809 $9,291 $9,717 $10,166 $10,639 $11,138 $11,664
Total Sales $125,000 $130,750 $151,773 $161,581 $173,038 $183,670 $194,752 $204,972 $215,580 $226,599 $236,806 $247,478
Direct Cost of Sales Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Food and Beverage Cost 25% $12,500 $13,125 $15,031 $15,845 $16,706 $17,617 $18,581 $19,434 $20,333 $21,279 $22,276 $23,328
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $12,500 $13,125 $15,031 $15,845 $16,706 $17,617 $18,581 $19,434 $20,333 $21,279 $22,276 $23,328
Personnel Plan
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
CEO $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000
COO $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
Marketing Director $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Salespeople $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Administrative Assistant $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Head Cook $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Assistant Cooks $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Facility Manager $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Total People 8 8 8 8 8 8 8 8 8 8 8 8
Total Payroll $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500

Pro Forma Profit and Loss
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Sales $125,000 $130,750 $151,773 $161,581 $173,038 $183,670 $194,752 $204,972 $215,580 $226,599 $236,806 $247,478
Direct Cost of Sales $12,500 $13,125 $15,031 $15,845 $16,706 $17,617 $18,581 $19,434 $20,333 $21,279 $22,276 $23,328
Event Staff 17% $21,250 $22,228 $25,801 $27,469 $29,417 $31,224 $33,108 $34,845 $36,649 $38,522 $40,257 $42,071
Subcontracted Services $20,000 $20,600 $21,218 $21,855 $22,510 $23,185 $23,881 $24,597 $25,335 $26,095 $26,878 $27,685
Total Cost of Sales $53,750 $55,953 $62,051 $65,169 $68,633 $72,027 $75,570 $78,877 $82,316 $85,896 $89,411 $93,084
Gross Margin $71,250 $74,798 $89,722 $96,412 $104,405 $111,643 $119,182 $126,095 $133,263 $140,703 $147,395 $154,395
Gross Margin % 57.00% 57.21% 59.12% 59.67% 60.34% 60.78% 61.20% 61.52% 61.82% 62.09% 62.24% 62.39%
Expenses
Payroll $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500
Marketing/Promotion $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $8,000 $8,000 $8,000 $6,000 $6,000
Depreciation 50000 $2,333 $2,333 $2,333 $2,333 $2,333 $2,333 $2,333 $2,333 $2,333 $2,333 $2,333 $2,333
Rent $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Utilities $500 $525 $551 $579 $608 $638 $670 $704 $739 $776 $814 $855
Insurance $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Payroll Taxes 15% $9,113 $9,259 $9,795 $10,045 $10,337 $10,609 $10,891 $11,152 $11,422 $11,703 $11,964 $12,236
Employee Benefits 10% $6,075 $6,173 $6,530 $6,697 $6,892 $7,072 $7,261 $7,435 $7,615 $7,802 $7,976 $8,157
Office Expenses 15% $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Facility Cleaning & Maintenance $6,450 $6,738 $7,789 $8,279 $8,852 $9,384 $9,938 $10,449 $10,979 $11,530 $12,040 $12,574
Total Operating Expenses $79,471 $80,028 $81,999 $82,933 $84,022 $85,036 $86,093 $85,072 $86,088 $87,144 $86,127 $87,155
Profit Before Interest and Taxes ($8,221) ($5,230) $7,723 $13,479 $20,383 $26,607 $33,089 $41,023 $47,175 $53,559 $61,267 $67,239
EBITDA ($5,888) ($2,897) $10,057 $15,812 $22,717 $28,941 $35,422 $43,356 $49,508 $55,892 $63,601 $69,573
Interest Expense $15,509 $15,435 $15,361 $15,287 $15,213 $15,139 $15,065 $14,991 $14,917 $14,843 $14,769 $14,694
Taxes Incurred ($7,119) ($6,200) ($2,291) ($542) $1,551 $3,441 $5,407 $7,810 $9,677 $11,615 $13,950 $15,763
Net Profit ($16,611) ($14,466) ($5,346) ($1,266) $3,619 $8,028 $12,617 $18,223 $22,581 $27,101 $32,549 $36,781
Net Profit/Sales -13.29% -11.06% -3.52% -0.78% 2.09% 4.37% 6.48% 8.89% 10.47% 11.96% 13.75% 14.86%

Pro Forma Cash Flow
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cash Received
Cash from Operations
Cash Sales $62,500 $65,375 $75,886 $80,790 $86,519 $91,835 $97,376 $102,486 $107,790 $113,300 $118,403 $123,739
Cash from Receivables $72,222 $69,444 $64,033 $70,981 $78,502 $83,846 $89,354 $94,790 $100,101 $105,315 $110,728 $116,021
Subtotal Cash from Operations $134,722 $134,819 $139,920 $151,771 $165,021 $175,681 $186,730 $197,276 $207,891 $218,614 $229,131 $239,761
Additional Cash Received
Sales Tax, VAT, HST/GST Received 8.00% $10,000 $10,460 $12,142 $12,926 $13,843 $14,694 $15,580 $16,398 $17,246 $18,128 $18,944 $19,798
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 $1,870,000 $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 $2,014,722 $145,279 $152,061 $164,698 $178,864 $190,374 $202,310 $213,674 $225,137 $236,742 $248,076 $259,559
Expenditures Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Expenditures from Operations
Cash Spending $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500 $39,500
Bill Payments $53,001 $90,483 $104,113 $116,411 $121,640 $128,225 $134,482 $140,936 $145,552 $151,832 $158,297 $163,138
Subtotal Spent on Operations $92,501 $129,983 $143,613 $155,911 $161,140 $167,725 $173,982 $180,436 $185,052 $191,332 $197,797 $202,638
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $10,000 $10,460 $12,142 $12,926 $13,843 $14,694 $15,580 $16,398 $17,246 $18,128 $18,944 $19,798
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 $8,889 $8,889 $8,889 $8,889 $8,889 $8,889 $8,889 $8,889 $8,889 $8,889 $8,889 $8,889
Purchase Other Current Assets $100,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Long-term Assets $2,050,000 $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 $2,261,390 $149,332 $164,644 $177,727 $183,872 $191,307 $198,451 $205,723 $211,187 $218,349 $225,631 $231,325
Net Cash Flow ($246,668) ($4,053) ($12,582) ($13,029) ($5,008) ($933) $3,860 $7,951 $13,951 $18,393 $22,445 $28,234
Cash Balance $53,332 $49,279 $36,697 $23,668 $18,660 $17,727 $21,587 $29,538 $43,488 $61,882 $84,327 $112,561

Pro Forma Balance Sheet
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Assets Starting Balances
Current Assets
Cash $300,000 $53,332 $49,279 $36,697 $23,668 $18,660 $17,727 $21,587 $29,538 $43,488 $61,882 $84,327 $112,561
Accounts Receivable $108,333 $98,611 $94,542 $106,395 $116,204 $124,221 $132,211 $140,232 $147,928 $155,617 $163,601 $171,276 $178,994
Inventory $16,000 $6,250 $6,563 $7,516 $7,923 $8,353 $8,809 $9,291 $9,717 $10,166 $10,639 $11,138 $11,664
Other Current Assets $2,500 $102,500 $102,500 $102,500 $102,500 $102,500 $102,500 $102,500 $102,500 $102,500 $102,500 $102,500 $102,500
Total Current Assets $426,833 $260,693 $252,884 $253,107 $250,294 $253,734 $261,246 $273,610 $289,683 $311,771 $338,622 $369,241 $405,719
Long-term Assets
Long-term Assets $90,000 $2,140,000 $2,140,000 $2,140,000 $2,140,000 $2,140,000 $2,140,000 $2,140,000 $2,140,000 $2,140,000 $2,140,000 $2,140,000 $2,140,000
Accumulated Depreciation $40,000 $42,333 $44,667 $47,000 $49,333 $51,667 $54,000 $56,333 $58,667 $61,000 $63,333 $65,667 $68,000
Total Long-term Assets $50,000 $2,097,667 $2,095,333 $2,093,000 $2,090,667 $2,088,333 $2,086,000 $2,083,667 $2,081,333 $2,079,000 $2,076,667 $2,074,333 $2,072,000
Total Assets $476,833 $2,358,360 $2,348,217 $2,346,107 $2,340,961 $2,342,068 $2,347,246 $2,357,276 $2,371,017 $2,390,771 $2,415,289 $2,443,574 $2,477,719
Liabilities and Capital Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Current Liabilities
Accounts Payable $50,000 $87,027 $100,238 $112,364 $117,373 $123,749 $129,789 $136,091 $140,498 $146,561 $152,866 $157,491 $163,743
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 $50,000 $87,027 $100,238 $112,364 $117,373 $123,749 $129,789 $136,091 $140,498 $146,561 $152,866 $157,491 $163,743
Long-term Liabilities $0 $1,861,111 $1,852,222 $1,843,333 $1,834,444 $1,825,555 $1,816,666 $1,807,777 $1,798,888 $1,789,999 $1,781,110 $1,772,221 $1,763,332
Total Liabilities $50,000 $1,948,138 $1,952,460 $1,955,697 $1,951,817 $1,949,304 $1,946,455 $1,943,868 $1,939,386 $1,936,560 $1,933,976 $1,929,712 $1,927,075
Paid-in Capital $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000
Retained Earnings $151,833 $226,833 $226,833 $226,833 $226,833 $226,833 $226,833 $226,833 $226,833 $226,833 $226,833 $226,833 $226,833
Earnings $75,000 ($16,611) ($31,077) ($36,423) ($37,689) ($34,070) ($26,042) ($13,425) $4,797 $27,378 $54,479 $87,029 $123,810
Total Capital $426,833 $410,222 $395,756 $390,410 $389,144 $392,763 $400,791 $413,408 $431,631 $454,212 $481,313 $513,862 $550,643
Total Liabilities and Capital $476,833 $2,358,360 $2,348,217 $2,346,107 $2,340,961 $2,342,068 $2,347,246 $2,357,276 $2,371,017 $2,390,771 $2,415,289 $2,443,574 $2,477,719
Net Worth $426,833 $410,222 $395,756 $390,410 $389,144 $392,763 $400,791 $413,408 $431,631 $454,212 $481,313 $513,862 $550,643

LivePlan Logo

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Create Your Plan