Wooderful Floors

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Hardwood Floor Refinisher 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
Remodelers 0% $250 $325 $622 $1,545 $2,121 $2,654 $3,232 $3,545 $3,754 $3,858 $4,005 $4,212
Restorers 0% $173 $224 $429 $1,066 $1,463 $1,831 $2,230 $2,446 $2,590 $2,662 $2,763 $2,906
Total Sales $423 $549 $1,051 $2,611 $3,584 $4,485 $5,462 $5,991 $6,344 $6,520 $6,768 $7,118
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
Remodelers $50 $65 $124 $309 $424 $531 $646 $709 $751 $772 $801 $842
Restorers $35 $45 $86 $213 $293 $366 $446 $489 $518 $532 $553 $581
Subtotal Direct Cost of Sales $85 $110 $210 $522 $717 $897 $1,092 $1,198 $1,269 $1,304 $1,354 $1,424
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
Logan 0% $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Additional employee 0% $0 $0 $0 $0 $500 $500 $500 $500 $500 $500 $600 $600
Total People 1 1 1 1 2 2 2 2 2 2 2 2
Total Payroll $2,000 $2,000 $2,000 $2,000 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,600 $2,600
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 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00%
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 $423 $549 $1,051 $2,611 $3,584 $4,485 $5,462 $5,991 $6,344 $6,520 $6,768 $7,118
Direct Cost of Sales $85 $110 $210 $522 $717 $897 $1,092 $1,198 $1,269 $1,304 $1,354 $1,424
Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $85 $110 $210 $522 $717 $897 $1,092 $1,198 $1,269 $1,304 $1,354 $1,424
Gross Margin $338 $439 $841 $2,089 $2,868 $3,588 $4,370 $4,793 $5,075 $5,216 $5,415 $5,695
Gross Margin % 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00% 80.00%
Expenses
Payroll $2,000 $2,000 $2,000 $2,000 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,600 $2,600
Sales and Marketing and Other Expenses $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Depreciation $222 $222 $222 $222 $222 $222 $222 $222 $222 $222 $222 $222
Utilities $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Payroll Taxes 15% $300 $300 $300 $300 $375 $375 $375 $375 $375 $375 $390 $390
Insurance $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Total Operating Expenses $2,922 $2,922 $2,922 $2,922 $3,497 $3,497 $3,497 $3,497 $3,497 $3,497 $3,612 $3,612
Profit Before Interest and Taxes ($2,584) ($2,483) ($2,081) ($833) ($629) $91 $873 $1,296 $1,578 $1,719 $1,803 $2,083
EBITDA ($2,362) ($2,261) ($1,859) ($611) ($407) $313 $1,095 $1,518 $1,800 $1,941 $2,025 $2,305
Interest Expense $86 $85 $84 $83 $82 $81 $80 $79 $77 $76 $75 $74
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($2,670) ($2,568) ($2,165) ($916) ($711) $10 $793 $1,217 $1,501 $1,643 $1,728 $2,009
Net Profit/Sales -632.04% -467.52% -205.98% -35.09% -19.84% 0.23% 14.52% 20.32% 23.66% 25.19% 25.52% 28.22%
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 $423 $549 $1,051 $2,611 $3,584 $4,485 $5,462 $5,991 $6,344 $6,520 $6,768 $7,118
Subtotal Cash from Operations $423 $549 $1,051 $2,611 $3,584 $4,485 $5,462 $5,991 $6,344 $6,520 $6,768 $7,118
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 $423 $549 $1,051 $2,611 $3,584 $4,485 $5,462 $5,991 $6,344 $6,520 $6,768 $7,118
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 $2,000 $2,000 $2,000 $2,000 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,600 $2,600
Bill Payments $29 $872 $898 $1,005 $1,314 $1,580 $1,759 $1,951 $2,054 $2,122 $2,157 $2,221
Subtotal Spent on Operations $2,029 $2,872 $2,898 $3,005 $3,814 $4,080 $4,259 $4,451 $4,554 $4,622 $4,757 $4,821
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 $192 $192 $192 $192 $192 $192 $192 $192 $192 $192 $192 $192
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 $2,221 $3,064 $3,090 $3,197 $4,006 $4,272 $4,451 $4,643 $4,746 $4,814 $4,949 $5,013
Net Cash Flow ($1,799) ($2,514) ($2,039) ($586) ($422) $213 $1,011 $1,348 $1,598 $1,706 $1,819 $2,105
Cash Balance $8,301 $5,787 $3,748 $3,162 $2,740 $2,954 $3,965 $5,313 $6,911 $8,617 $10,436 $12,541
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 $10,100 $8,301 $5,787 $3,748 $3,162 $2,740 $2,954 $3,965 $5,313 $6,911 $8,617 $10,436 $12,541
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $10,100 $8,301 $5,787 $3,748 $3,162 $2,740 $2,954 $3,965 $5,313 $6,911 $8,617 $10,436 $12,541
Long-term Assets
Long-term Assets $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000
Accumulated Depreciation $0 $222 $444 $666 $888 $1,110 $1,332 $1,554 $1,776 $1,998 $2,220 $2,442 $2,664
Total Long-term Assets $8,000 $7,778 $7,556 $7,334 $7,112 $6,890 $6,668 $6,446 $6,224 $6,002 $5,780 $5,558 $5,336
Total Assets $18,100 $16,079 $13,343 $11,082 $10,274 $9,630 $9,622 $10,411 $11,537 $12,913 $14,397 $15,994 $17,877
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 $842 $865 $961 $1,262 $1,521 $1,694 $1,882 $1,983 $2,051 $2,083 $2,145 $2,211
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 $842 $865 $961 $1,262 $1,521 $1,694 $1,882 $1,983 $2,051 $2,083 $2,145 $2,211
Long-term Liabilities $15,000 $14,808 $14,616 $14,424 $14,232 $14,040 $13,848 $13,656 $13,464 $13,272 $13,080 $12,888 $12,696
Total Liabilities $15,000 $15,650 $15,481 $15,385 $15,494 $15,561 $15,542 $15,538 $15,447 $15,323 $15,163 $15,033 $14,907
Paid-in Capital $23,000 $23,000 $23,000 $23,000 $23,000 $23,000 $23,000 $23,000 $23,000 $23,000 $23,000 $23,000 $23,000
Retained Earnings ($19,900) ($19,900) ($19,900) ($19,900) ($19,900) ($19,900) ($19,900) ($19,900) ($19,900) ($19,900) ($19,900) ($19,900) ($19,900)
Earnings $0 ($2,670) ($5,238) ($7,403) ($8,320) ($9,031) ($9,020) ($8,227) ($7,010) ($5,509) ($3,866) ($2,139) ($130)
Total Capital $3,100 $430 ($2,138) ($4,303) ($5,220) ($5,931) ($5,920) ($5,127) ($3,910) ($2,409) ($766) $961 $2,970
Total Liabilities and Capital $18,100 $16,079 $13,343 $11,082 $10,274 $9,630 $9,622 $10,411 $11,537 $12,913 $14,397 $15,994 $17,877
Net Worth $3,100 $430 ($2,138) ($4,303) ($5,220) ($5,931) ($5,920) ($5,127) ($3,910) ($2,409) ($766) $961 $2,970