Mike's Trucking Service

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General Freight Trucking Business Plan

Company Summary

Mike's Trucking Service is a Texas LLC, with principal offices located in Dallas, Texas. Mike Smith, president and CEO, is the majority owner. He has been in the trucking business for 15 years.

2.1 Company History

Mike's Trucking has been in business for one year. We have maintained financial stability during the first year of operation due to the extensive industry experience of our management team.

Past Performance
1997 1998 1999
Sales $0 $0 $60,000
Gross Margin $0 $0 $42,000
Gross Margin % 0.00% 0.00% 70.00%
Operating Expenses $0 $0 $18,000
Collection Period (days) 0 0 37
Balance Sheet
1997 1998 1999
Current Assets
Cash $0 $0 $500
Accounts Receivable $0 $0 $10,000
Other Current Assets $0 $0 $0
Total Current Assets $0 $0 $10,500
Long-term Assets
Long-term Assets $0 $0 $40,000
Accumulated Depreciation $0 $0 $4,000
Total Long-term Assets $0 $0 $36,000
Total Assets $0 $0 $46,500
Current Liabilities
Accounts Payable $0 $0 $3,500
Current Borrowing $0 $0 $20,000
Other Current Liabilities (interest free) $0 $0 $500
Total Current Liabilities $0 $0 $24,000
Long-term Liabilities $0 $0 $25,000
Total Liabilities $0 $0 $49,000
Paid-in Capital $0 $0 $0
Retained Earnings $0 $0 ($2,500)
Earnings $0 $0 $0
Total Capital $0 $0 ($2,500)
Total Capital and Liabilities $0 $0 $46,500
Other Inputs
Payment Days 0 0 30
Sales on Credit $0 $0 $50,000
Receivables Turnover 0.00 0.00 5.00