Betcher Chiropractic

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Chiropractic 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
Routine treatment 0% $0 $0 $1,100 $1,325 $1,656 $1,998 $2,254 $2,626 $2,998 $3,232 $3,698 $4,545
Initial examination and diagnosis 0% $0 $0 $484 $583 $729 $879 $992 $1,155 $1,319 $1,422 $1,627 $2,000
Total Sales $0 $0 $1,584 $1,908 $2,385 $2,877 $3,246 $3,781 $4,317 $4,654 $5,325 $6,545
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
Routine treatment $0 $0 $22 $27 $33 $40 $45 $53 $60 $65 $74 $91
Initial examination and diagnosis $0 $0 $22 $27 $33 $40 $45 $53 $60 $65 $74 $91
Subtotal Direct Cost of Sales $0 $0 $44 $53 $66 $80 $90 $105 $120 $129 $148 $182
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
Dr. Betcher 0% $0 $2,000 $2,000 $2,000 $2,300 $2,300 $2,400 $2,500 $2,500 $2,700 $2,800 $3,000
Office Assistant 0% $0 $0 $0 $0 $800 $800 $900 $900 $1,000 $1,200 $1,200 $1,200
Total People 0 1 1 1 2 2 2 2 2 2 2 2
Total Payroll $0 $2,000 $2,000 $2,000 $3,100 $3,100 $3,300 $3,400 $3,500 $3,900 $4,000 $4,200
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 $0 $1,584 $1,908 $2,385 $2,877 $3,246 $3,781 $4,317 $4,654 $5,325 $6,545
Direct Cost of Sales $0 $0 $44 $53 $66 $80 $90 $105 $120 $129 $148 $182
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $0 $0 $44 $53 $66 $80 $90 $105 $120 $129 $148 $182
Gross Margin $0 $0 $1,540 $1,855 $2,318 $2,797 $3,156 $3,676 $4,197 $4,525 $5,177 $6,363
Gross Margin % 0.00% 0.00% 97.22% 97.22% 97.22% 97.22% 97.22% 97.22% 97.22% 97.22% 97.22% 97.22%
Expenses
Payroll $0 $2,000 $2,000 $2,000 $3,100 $3,100 $3,300 $3,400 $3,500 $3,900 $4,000 $4,200
Sales and Marketing and Other Expenses $0 $320 $320 $320 $320 $320 $320 $320 $320 $320 $320 $320
Depreciation $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250
Utilities (all) $0 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Insurance - malpractice $0 $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $110
Insurance - workers comp $0 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20
Insurance - liability $0 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Rent 15% $0 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200
Payroll Taxes 15% $0 $300 $300 $300 $465 $465 $495 $510 $525 $585 $600 $630
Total Operating Expenses $250 $4,700 $4,700 $4,700 $5,965 $5,965 $6,195 $6,310 $6,425 $6,885 $7,000 $7,230
Profit Before Interest and Taxes ($250) ($4,700) ($3,160) ($2,845) ($3,647) ($3,168) ($3,039) ($2,634) ($2,228) ($2,360) ($1,823) ($867)
EBITDA $0 ($4,450) ($2,910) ($2,595) ($3,397) ($2,918) ($2,789) ($2,384) ($1,978) ($2,110) ($1,573) ($617)
Interest Expense $165 $162 $160 $158 $156 $154 $152 $150 $148 $146 $143 $141
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($415) ($4,862) ($3,320) ($3,003) ($3,803) ($3,322) ($3,191) ($2,783) ($2,375) ($2,506) ($1,966) ($1,008)
Net Profit/Sales 0.00% 0.00% -209.62% -157.40% -159.47% -115.46% -98.32% -73.61% -55.02% -53.84% -36.92% -15.41%
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 $0 $396 $477 $596 $719 $811 $945 $1,079 $1,164 $1,331 $1,636
Cash from Receivables $0 $0 $0 $40 $1,196 $1,443 $1,801 $2,167 $2,448 $2,849 $3,246 $3,507
Subtotal Cash from Operations $0 $0 $396 $517 $1,792 $2,162 $2,612 $3,112 $3,527 $4,013 $4,578 $5,144
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 $0 $0 $0
Subtotal Cash Received $0 $0 $396 $517 $1,792 $2,162 $2,612 $3,112 $3,527 $4,013 $4,578 $5,144
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 $0 $2,000 $2,000 $2,000 $3,100 $3,100 $3,300 $3,400 $3,500 $3,900 $4,000 $4,200
Bill Payments $5 $246 $2,614 $2,655 $2,667 $2,838 $2,850 $2,888 $2,916 $2,945 $3,011 $3,043
Subtotal Spent on Operations $5 $2,246 $4,614 $4,655 $5,767 $5,938 $6,150 $6,288 $6,416 $6,845 $7,011 $7,243
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 $253 $253 $253 $253 $253 $253 $253 $253 $253 $253 $253 $253
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 $258 $2,499 $4,867 $4,908 $6,020 $6,191 $6,403 $6,541 $6,669 $7,098 $7,264 $7,496
Net Cash Flow ($258) ($2,499) ($4,471) ($4,391) ($4,228) ($4,029) ($3,791) ($3,429) ($3,142) ($3,085) ($2,686) ($2,353)
Cash Balance $40,742 $38,242 $33,772 $29,381 $25,153 $21,124 $17,333 $13,905 $10,763 $7,678 $4,992 $2,639
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 $41,000 $40,742 $38,242 $33,772 $29,381 $25,153 $21,124 $17,333 $13,905 $10,763 $7,678 $4,992 $2,639
Accounts Receivable $0 $0 $0 $1,188 $2,579 $3,172 $3,887 $4,520 $5,189 $5,979 $6,620 $7,368 $8,769
Other Current Assets $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Total Current Assets $43,500 $43,242 $40,742 $37,460 $34,460 $30,824 $27,511 $24,353 $21,594 $19,242 $16,798 $14,860 $13,908
Long-term Assets
Long-term Assets $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000
Accumulated Depreciation $0 $250 $500 $750 $1,000 $1,250 $1,500 $1,750 $2,000 $2,250 $2,500 $2,750 $3,000
Total Long-term Assets $15,000 $14,750 $14,500 $14,250 $14,000 $13,750 $13,500 $13,250 $13,000 $12,750 $12,500 $12,250 $12,000
Total Assets $58,500 $57,992 $55,242 $51,710 $48,460 $44,574 $41,011 $37,603 $34,594 $31,992 $29,298 $27,110 $25,908
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 $159 $2,525 $2,566 $2,573 $2,743 $2,754 $2,791 $2,818 $2,845 $2,910 $2,940 $3,000
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 $159 $2,525 $2,566 $2,573 $2,743 $2,754 $2,791 $2,818 $2,845 $2,910 $2,940 $3,000
Long-term Liabilities $20,000 $19,747 $19,494 $19,241 $18,988 $18,735 $18,482 $18,229 $17,976 $17,723 $17,470 $17,217 $16,964
Total Liabilities $20,000 $19,906 $22,019 $21,807 $21,561 $21,478 $21,236 $21,020 $20,794 $20,568 $20,380 $20,157 $19,964
Paid-in Capital $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000
Retained Earnings ($21,500) ($21,500) ($21,500) ($21,500) ($21,500) ($21,500) ($21,500) ($21,500) ($21,500) ($21,500) ($21,500) ($21,500) ($21,500)
Earnings $0 ($415) ($5,277) ($8,597) ($11,601) ($15,403) ($18,725) ($21,916) ($24,700) ($27,075) ($29,581) ($31,547) ($32,556)
Total Capital $38,500 $38,085 $33,223 $29,903 $26,899 $23,097 $19,775 $16,584 $13,800 $11,425 $8,919 $6,953 $5,944
Total Liabilities and Capital $58,500 $57,992 $55,242 $51,710 $48,460 $44,574 $41,011 $37,603 $34,594 $31,992 $29,298 $27,110 $25,908
Net Worth $38,500 $38,085 $33,223 $29,903 $26,899 $23,097 $19,775 $16,584 $13,800 $11,425 $8,919 $6,953 $5,944