Accurate Chiropractic

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Chiropractic Clinic 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
Chiropractic Cases 0% $0 $6,250 $12,500 $18,725 $25,000 $31,250 $37,500 $43,750 $50,000 $56,250 $62,500 $68,750
Corporate Clients 0% $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Home Exercise Devices 0% $300 $350 $400 $400 $450 $500 $500 $500 $550 $550 $600 $600
Weight Loss System 0% $240 $240 $240 $240 $320 $320 $320 $320 $320 $400 $400 $400
Pillows 0% $180 $210 $240 $240 $270 $270 $300 $330 $330 $360 $360 $390
TENS Units 0% $360 $360 $360 $360 $360 $480 $480 $480 $600 $600 $600 $600
Total Sales $2,580 $8,910 $15,240 $21,465 $27,900 $34,320 $40,600 $46,880 $53,300 $59,660 $65,960 $72,240
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
Chiropractic Cases $0 $63 $125 $187 $250 $313 $375 $438 $500 $563 $625 $688
Corporate Clients $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Home Exercise Devices $138 $161 $184 $184 $207 $230 $230 $230 $253 $253 $276 $276
Weight Loss System $81 $81 $81 $81 $108 $108 $108 $108 $108 $135 $135 $135
Pillows $84 $98 $112 $112 $126 $126 $140 $154 $154 $168 $168 $182
TENS Units $87 $87 $87 $87 $87 $116 $116 $116 $145 $145 $145 $145
Subtotal Direct Cost of Sales $690 $790 $889 $951 $1,078 $1,193 $1,269 $1,346 $1,460 $1,564 $1,649 $1,726
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
Angelo M. Rubano, Jr. D.C. 0% $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $5,000 $6,000 $6,000 $7,500 $7,500 $7,500
Associate Dr. #1 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Associate Dr. #2 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Insurance Staff 0% $2,150 $2,150 $2,150 $2,150 $2,150 $2,150 $2,236 $2,236 $2,236 $2,236 $2,236 $2,236
Insurance Staff #2 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Front Desk Staff 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,150 $2,150 $2,150
Front Desk Staff #2 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Chiropractic Assistant #1 0% $0 $0 $0 $0 $0 $0 $0 $2,580 $2,580 $2,580 $2,580 $2,580
Chiropractic Assistant #2 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Chiropractic Assistant #3 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 2 2 2 2 2 2 2 3 3 4 4 4
Total Payroll $6,150 $6,150 $6,150 $6,150 $6,150 $6,150 $7,236 $10,816 $10,816 $14,466 $14,466 $14,466
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% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
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 $2,580 $8,910 $15,240 $21,465 $27,900 $34,320 $40,600 $46,880 $53,300 $59,660 $65,960 $72,240
Direct Cost of Sales $690 $790 $889 $951 $1,078 $1,193 $1,269 $1,346 $1,460 $1,564 $1,649 $1,726
Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $690 $790 $889 $951 $1,078 $1,193 $1,269 $1,346 $1,460 $1,564 $1,649 $1,726
Gross Margin $1,890 $8,121 $14,351 $20,514 $26,822 $33,128 $39,331 $45,535 $51,840 $58,097 $64,311 $70,515
Gross Margin % 73.26% 91.14% 94.17% 95.57% 96.14% 96.53% 96.87% 97.13% 97.26% 97.38% 97.50% 97.61%
Expenses
Payroll $6,150 $6,150 $6,150 $6,150 $6,150 $6,150 $7,236 $10,816 $10,816 $14,466 $14,466 $14,466
Marketing/Promotion $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667
Depreciation $0 $386 $386 $386 $386 $386 $386 $386 $386 $386 $386 $386
Rent $0 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373 $1,373
Utilities $0 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Insurance $0 $0 $0 $0 $0 $0 $154 $154 $154 $154 $154 $154
Payroll Taxes 15% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Office Supplies $0 $433 $433 $433 $433 $433 $433 $433 $433 $433 $433 $433
Legal Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Accounting Fees $0 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Computer Technical Support $0 $60 $60 $60 $60 $60 $60 $60 $60 $60 $60 $60
XRay Film and Processor Maintenance $0 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175
Professional Organization Membership 15% $0 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70 $70
Employee Benefits Package $0 $585 $585 $585 $585 $585 $585 $585 $585 $585 $585 $585
Total Operating Expenses $7,817 $11,499 $11,499 $11,499 $11,499 $11,499 $12,739 $16,319 $16,319 $19,969 $19,969 $19,969
Profit Before Interest and Taxes ($5,927) ($3,378) $2,852 $9,015 $15,323 $21,629 $26,592 $29,216 $35,521 $38,128 $44,342 $50,546
EBITDA ($5,927) ($2,992) $3,239 $9,401 $15,710 $22,015 $26,978 $29,602 $35,907 $38,514 $44,728 $50,932
Interest Expense $1,348 $1,328 $1,309 $1,290 $1,271 $1,252 $1,233 $1,214 $1,195 $1,176 $1,157 $1,137
Taxes Incurred ($2,182) ($1,412) $463 $2,317 $4,216 $6,113 $7,608 $8,401 $10,298 $11,086 $12,956 $14,822
Net Profit ($5,092) ($3,295) $1,080 $5,407 $9,837 $14,264 $17,752 $19,601 $24,029 $25,866 $30,230 $34,586
Net Profit/Sales -197.36% -36.98% 7.09% 25.19% 35.26% 41.56% 43.72% 41.81% 45.08% 43.36% 45.83% 47.88%
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 $645 $2,228 $3,810 $5,366 $6,975 $8,580 $10,150 $11,720 $13,325 $14,915 $16,490 $18,060
Cash from Receivables $0 $65 $2,093 $6,841 $11,586 $16,260 $21,086 $25,897 $30,607 $35,321 $40,134 $44,903
Subtotal Cash from Operations $645 $2,292 $5,903 $12,207 $18,561 $24,840 $31,236 $37,617 $43,932 $50,236 $56,624 $62,963
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 $645 $2,292 $5,903 $12,207 $18,561 $24,840 $31,236 $37,617 $43,932 $50,236 $56,624 $62,963
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 $6,150 $6,150 $6,150 $6,150 $6,150 $6,150 $7,236 $10,816 $10,816 $14,466 $14,466 $14,466
Bill Payments $51 $1,660 $5,734 $7,687 $9,588 $11,594 $13,577 $15,255 $16,143 $18,098 $19,006 $20,942
Subtotal Spent on Operations $6,201 $7,810 $11,884 $13,837 $15,738 $17,744 $20,813 $26,071 $26,959 $32,564 $33,472 $35,408
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 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292 $2,292
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 $8,493 $10,102 $14,176 $16,129 $18,030 $20,036 $23,105 $28,363 $29,251 $34,856 $35,764 $37,700
Net Cash Flow ($7,848) ($7,810) ($8,272) ($3,922) $530 $4,804 $8,131 $9,254 $14,681 $15,379 $20,860 $25,263
Cash Balance $61,152 $53,342 $45,070 $41,148 $41,678 $46,482 $54,613 $63,867 $78,548 $93,927 $114,787 $140,050
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 $69,000 $61,152 $53,342 $45,070 $41,148 $41,678 $46,482 $54,613 $63,867 $78,548 $93,927 $114,787 $140,050
Accounts Receivable $0 $1,935 $8,553 $17,890 $27,148 $36,487 $45,968 $55,332 $64,595 $73,963 $83,388 $92,724 $102,001
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $69,000 $63,087 $61,895 $62,960 $68,296 $78,165 $92,450 $109,945 $128,462 $152,511 $177,315 $207,511 $242,051
Long-term Assets
Long-term Assets $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000 $104,000
Accumulated Depreciation $0 $0 $386 $772 $1,158 $1,545 $1,931 $2,317 $2,703 $3,089 $3,475 $3,862 $4,248
Total Long-term Assets $104,000 $104,000 $103,614 $103,228 $102,842 $102,455 $102,069 $101,683 $101,297 $100,911 $100,525 $100,138 $99,752
Total Assets $173,000 $167,087 $165,509 $166,187 $171,137 $180,621 $194,519 $211,628 $229,759 $253,422 $277,839 $307,649 $341,803
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 $1,471 $5,479 $7,370 $9,204 $11,143 $13,069 $14,719 $15,541 $17,467 $18,310 $20,182 $22,042
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 $1,471 $5,479 $7,370 $9,204 $11,143 $13,069 $14,719 $15,541 $17,467 $18,310 $20,182 $22,042
Long-term Liabilities $164,000 $161,708 $159,416 $157,124 $154,832 $152,540 $150,248 $147,956 $145,664 $143,372 $141,080 $138,788 $136,496
Total Liabilities $164,000 $163,179 $164,895 $164,494 $164,036 $163,683 $163,317 $162,675 $161,205 $160,839 $159,390 $158,970 $158,538
Paid-in Capital $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575 $43,575
Retained Earnings ($34,575) ($34,575) ($34,575) ($34,575) ($34,575) ($34,575) ($34,575) ($34,575) ($34,575) ($34,575) ($34,575) ($34,575) ($34,575)
Earnings $0 ($5,092) ($8,387) ($7,306) ($1,899) $7,938 $22,201 $39,953 $59,554 $83,583 $109,449 $139,679 $174,265
Total Capital $9,000 $3,908 $613 $1,694 $7,101 $16,938 $31,201 $48,953 $68,554 $92,583 $118,449 $148,679 $183,265
Total Liabilities and Capital $173,000 $167,087 $165,509 $166,187 $171,137 $180,621 $194,519 $211,628 $229,759 $253,422 $277,839 $307,649 $341,803
Net Worth $9,000 $3,908 $613 $1,694 $7,101 $16,938 $31,201 $48,953 $68,554 $92,583 $118,449 $148,679 $183,265