Plan Outline
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SIC 5719 Home Furniture, Furnishings and Equipment Stores - Miscellaneous homefurnishings
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Home Accessories and Gifts Business Plan
The Scarlet Tassel
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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 | |||||||||||||
| Revenue | 0% | $8,000 | $32,000 | $46,000 | $54,000 | $58,000 | $66,000 | $71,000 | $49,000 | $61,000 | $59,000 | $41,000 | $44,000 |
| Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Sales | $8,000 | $32,000 | $46,000 | $54,000 | $58,000 | $66,000 | $71,000 | $49,000 | $61,000 | $59,000 | $41,000 | $44,000 | |
| 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 | |
| Inventory | $2,960 | $11,840 | $17,020 | $19,980 | $21,460 | $24,420 | $26,270 | $18,130 | $22,570 | $21,830 | $15,170 | $16,280 | |
| Inbound Freight | $640 | $2,560 | $3,680 | $4,320 | $4,640 | $5,280 | $5,680 | $3,920 | $4,880 | $4,720 | $3,280 | $3,520 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $3,600 | $14,400 | $20,700 | $24,300 | $26,100 | $29,700 | $31,950 | $22,050 | $27,450 | $26,550 | $18,450 | $19,800 | |
| 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 | ||
| Co-Owner/Manager--Merchandising & Marketing | 0% | $834 | $834 | $834 | $834 | $834 | $1,667 | $1,667 | $2,500 | $2,500 | $3,334 | $3,334 | $3,334 |
| Co-Owner/Manager--Operations & Finance | 0% | $834 | $834 | $834 | $834 | $834 | $1,667 | $1,667 | $2,500 | $2,500 | $3,334 | $3,334 | $3,334 |
| Full-Time Sales Associate / Manager Trainee | 0% | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 |
| Full-Time Sales Associate | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Part-Time Sales Associate | 0% | $1,286 | $1,329 | $1,286 | $1,329 | $1,329 | $1,286 | $1,329 | $1,286 | $1,329 | $1,329 | $1,329 | $1,329 |
| Part-Time Sales Associate | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Part-Time Sales Associate / Holiday Temp | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $1,196 | $1,157 | $1,196 | $0 | $0 | $0 |
| Total People | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | |
| Total Payroll | $5,454 | $5,497 | $5,454 | $5,497 | $5,497 | $7,120 | $8,359 | $9,943 | $10,025 | $10,497 | $10,497 | $10,497 | |
| 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 | $8,000 | $32,000 | $46,000 | $54,000 | $58,000 | $66,000 | $71,000 | $49,000 | $61,000 | $59,000 | $41,000 | $44,000 | |
| Subtotal Cash from Operations | $8,000 | $32,000 | $46,000 | $54,000 | $58,000 | $66,000 | $71,000 | $49,000 | $61,000 | $59,000 | $41,000 | $44,000 | |
| Additional Cash Received | |||||||||||||
| Sales Tax, VAT, HST/GST Received | 7.00% | $560 | $2,240 | $3,220 | $3,780 | $4,060 | $4,620 | $4,970 | $3,430 | $4,270 | $4,130 | $2,870 | $3,080 |
| 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 | $120,000 | $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 | $50,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $178,560 | $34,240 | $49,220 | $57,780 | $62,060 | $70,620 | $75,970 | $52,430 | $65,270 | $63,130 | $43,870 | $47,080 | |
| 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 | $14,894 | $24,351 | $50,879 | $51,618 | $55,386 | $59,933 | $64,674 | $36,720 | $60,808 | $53,492 | $35,282 | $47,190 | |
| Bill Payments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Spent on Operations | $14,894 | $24,351 | $50,879 | $51,618 | $55,386 | $59,933 | $64,674 | $36,720 | $60,808 | $53,492 | $35,282 | $47,190 | |
| Additional Cash Spent | |||||||||||||
| Sales Tax, VAT, HST/GST Paid Out | $560 | $2,240 | $3,220 | $3,780 | $4,060 | $4,620 | $4,970 | $3,430 | $4,270 | $4,130 | $2,870 | $3,080 | |
| 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 | $0 | $1,203 | $1,214 | $1,225 | $1,235 | $1,246 | $1,257 | $1,268 | $1,279 | $1,290 | $1,302 | $1,313 | |
| Purchase Other Current Assets | $0 | $1,050 | $1,039 | $1,029 | $1,018 | $1,007 | $996 | $985 | $974 | $963 | $952 | $940 | |
| Purchase Long-term Assets | $83,775 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Dividends | $23,357 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Spent | $122,586 | $28,845 | $56,352 | $57,652 | $61,699 | $66,807 | $71,898 | $42,404 | $67,331 | $59,876 | $40,406 | $52,523 | |
| Net Cash Flow | $55,974 | $5,395 | ($7,132) | $128 | $361 | $3,813 | $4,072 | $10,026 | ($2,061) | $3,254 | $3,464 | ($5,443) | |
| Cash Balance | $84,072 | $89,467 | $82,335 | $82,463 | $82,824 | $86,637 | $90,709 | $100,736 | $98,674 | $101,929 | $105,393 | $99,949 | |
| 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 | $8,000 | $32,000 | $46,000 | $54,000 | $58,000 | $66,000 | $71,000 | $49,000 | $61,000 | $59,000 | $41,000 | $44,000 | |
| Direct Cost of Sales | $3,600 | $14,400 | $20,700 | $24,300 | $26,100 | $29,700 | $31,950 | $22,050 | $27,450 | $26,550 | $18,450 | $19,800 | |
| Other Production Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $3,600 | $14,400 | $20,700 | $24,300 | $26,100 | $29,700 | $31,950 | $22,050 | $27,450 | $26,550 | $18,450 | $19,800 | |
| Gross Margin | $4,400 | $17,600 | $25,300 | $29,700 | $31,900 | $36,300 | $39,050 | $26,950 | $33,550 | $32,450 | $22,550 | $24,200 | |
| Gross Margin % | 55.00% | 55.00% | 55.00% | 55.00% | 55.00% | 55.00% | 55.00% | 55.00% | 55.00% | 55.00% | 55.00% | 55.00% | |
| Expenses | |||||||||||||
| Payroll | $5,454 | $5,497 | $5,454 | $5,497 | $5,497 | $7,120 | $8,359 | $9,943 | $10,025 | $10,497 | $10,497 | $10,497 | |
| Travel | $0 | $1,000 | $2,200 | $0 | $2,300 | $0 | $2,400 | $0 | $0 | $0 | $2,000 | $0 | |
| Depreciation | $1,644 | $1,644 | $1,644 | $1,644 | $1,644 | $1,644 | $1,644 | $1,644 | $1,644 | $1,644 | $1,644 | $1,644 | |
| Dues & Subscriptions | $122 | $0 | $0 | $234 | $0 | $0 | $175 | $0 | $0 | $198 | $0 | $0 | |
| Entertainment | $175 | $0 | $0 | $175 | $0 | $0 | $175 | $0 | $0 | $175 | $0 | $0 | |
| Insurance | $550 | $182 | $182 | $182 | $182 | $182 | $182 | $182 | $182 | $182 | $182 | $182 | |
| Marketing and Advertising | $2,225 | $6,263 | $2,763 | $2,763 | $4,763 | $2,763 | $2,763 | $3,263 | $2,763 | $2,763 | $2,763 | $3,263 | |
| Merchant Fees | 3% | $160 | $640 | $920 | $1,080 | $1,160 | $1,320 | $1,420 | $980 | $1,220 | $1,180 | $820 | $880 |
| Miscellaneous | $111 | $111 | $111 | $233 | $681 | $111 | $233 | $111 | $111 | $233 | $111 | $111 | |
| Outbound Freight | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | |
| Rent | $8,166 | $8,166 | $8,166 | $8,166 | $8,166 | $8,166 | $8,166 | $8,166 | $8,166 | $8,166 | $8,166 | $8,166 | |
| Repairs & Maintenance | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | $50 | |
| Supplies--Office, POS, Giftwrap, Packaging | $170 | $179 | $187 | $197 | $207 | $217 | $228 | $239 | $251 | $264 | $277 | $291 | |
| Taxes--Other and Licenses | $120 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $275 | $0 | $1,200 | |
| Taxes--Payroll & Workman's Compensation | 12% | $0 | $120 | $264 | $0 | $276 | $0 | $288 | $0 | $0 | $0 | $240 | $0 |
| Telephone and Utilities | 15% | $843 | $843 | $843 | $843 | $843 | $843 | $843 | $843 | $843 | $843 | $843 | $843 |
| Other | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | |
| Total Operating Expenses | $20,140 | $25,044 | $23,134 | $21,413 | $26,118 | $22,765 | $27,275 | $25,771 | $25,605 | $26,819 | $27,942 | $27,476 | |
| Profit Before Interest and Taxes | ($15,740) | ($7,444) | $2,166 | $8,287 | $5,782 | $13,535 | $11,775 | $1,179 | $7,945 | $5,631 | ($5,392) | ($3,276) | |
| EBITDA | ($14,096) | ($5,800) | $3,810 | $9,931 | $7,426 | $15,179 | $13,419 | $2,823 | $9,589 | $7,275 | ($3,748) | ($1,632) | |
| Interest Expense | $1,600 | $1,592 | $1,584 | $1,576 | $1,567 | $1,559 | $1,551 | $1,542 | $1,534 | $1,525 | $1,517 | $1,508 | |
| Taxes Incurred | ($5,202) | ($2,711) | $175 | $2,013 | $1,264 | $3,593 | $3,067 | ($109) | $1,924 | $1,232 | ($2,073) | ($1,435) | |
| Net Profit | ($12,138) | ($6,325) | $408 | $4,698 | $2,950 | $8,383 | $7,157 | ($254) | $4,488 | $2,874 | ($4,836) | ($3,349) | |
| Net Profit/Sales | -151.72% | -19.77% | 0.89% | 8.70% | 5.09% | 12.70% | 10.08% | -0.52% | 7.36% | 4.87% | -11.80% | -7.61% | |
| 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 | $28,098 | $84,072 | $89,467 | $82,335 | $82,463 | $82,824 | $86,637 | $90,709 | $100,736 | $98,674 | $101,929 | $105,393 | $99,949 |
| Inventory | $31,770 | $28,170 | $15,840 | $22,770 | $26,730 | $28,710 | $32,670 | $35,145 | $24,255 | $30,195 | $29,205 | $20,295 | $21,780 |
| Other Current Assets | $3,000 | $3,000 | $4,050 | $5,089 | $6,118 | $7,136 | $8,144 | $9,140 | $10,126 | $11,100 | $12,063 | $13,015 | $13,955 |
| Total Current Assets | $62,868 | $115,242 | $109,357 | $110,195 | $115,312 | $118,670 | $127,451 | $134,995 | $135,116 | $139,969 | $143,197 | $138,703 | $135,685 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $83,775 | $167,550 | $167,550 | $167,550 | $167,550 | $167,550 | $167,550 | $167,550 | $167,550 | $167,550 | $167,550 | $167,550 | $167,550 |
| Accumulated Depreciation | $0 | $1,644 | $3,288 | $4,932 | $6,575 | $8,219 | $9,863 | $11,507 | $13,151 | $14,795 | $16,438 | $18,082 | $19,726 |
| Total Long-term Assets | $83,775 | $165,906 | $164,262 | $162,618 | $160,975 | $159,331 | $157,687 | $156,043 | $154,399 | $152,755 | $151,112 | $149,468 | $147,824 |
| Total Assets | $146,643 | $281,148 | $273,620 | $272,813 | $276,286 | $278,001 | $285,138 | $291,038 | $289,516 | $292,725 | $294,308 | $288,170 | $283,509 |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term Liabilities | $120,000 | $240,000 | $238,797 | $237,583 | $236,358 | $235,123 | $233,876 | $232,619 | $231,351 | $230,072 | $228,782 | $227,480 | $226,167 |
| Total Liabilities | $120,000 | $240,000 | $238,797 | $237,583 | $236,358 | $235,123 | $233,876 | $232,619 | $231,351 | $230,072 | $228,782 | $227,480 | $226,167 |
| Paid-in Capital | $50,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 |
| Retained Earnings | ($23,357) | ($46,714) | ($46,714) | ($46,714) | ($46,714) | ($46,714) | ($46,714) | ($46,714) | ($46,714) | ($46,714) | ($46,714) | ($46,714) | ($46,714) |
| Earnings | $0 | ($12,138) | ($18,463) | ($18,055) | ($13,358) | ($10,407) | ($2,024) | $5,132 | $4,878 | $9,367 | $12,241 | $7,404 | $4,056 |
| Total Capital | $26,643 | $41,148 | $34,823 | $35,231 | $39,928 | $42,879 | $51,262 | $58,418 | $58,164 | $62,653 | $65,527 | $60,690 | $57,342 |
| Total Liabilities and Capital | $146,643 | $281,148 | $273,620 | $272,813 | $276,286 | $278,001 | $285,138 | $291,038 | $289,516 | $292,725 | $294,308 | $288,170 | $283,509 |
| Net Worth | $26,643 | $41,148 | $34,823 | $35,231 | $39,928 | $42,879 | $51,262 | $58,418 | $58,164 | $62,653 | $65,527 | $60,690 | $57,342 |
