Wy'East Law Firm

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Law Firm 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
Technology companies 0% $0 $8,005 $9,514 $13,587 $16,547 $16,874 $16,854 $17,525 $18,547 $18,752 $18,887 $19,004
Public Interest organizations 0% $0 $1,100 $1,200 $1,500 $1,545 $1,587 $1,584 $1,654 $1,666 $1,548 $1,741 $1,714
Total Sales $0 $9,105 $10,714 $15,087 $18,092 $18,461 $18,438 $19,179 $20,213 $20,300 $20,628 $20,718
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
Technology companies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Public Interest organizations $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
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
Richard 0% $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500
Receptionist/ secretary 0% $0 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050
Paralegal 0% $0 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Law clerk 0% $0 $0 $0 $900 $900 $900 $900 $900 $900 $900 $900 $900
Law clerk 0% $0 $0 $0 $0 $0 $0 $0 $900 $900 $900 $900 $900
Total People 1 3 3 4 4 4 4 5 5 5 5 5
Total Payroll $5,500 $8,550 $8,550 $9,450 $9,450 $9,450 $9,450 $10,350 $10,350 $10,350 $10,350 $10,350
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 $9,105 $10,714 $15,087 $18,092 $18,461 $18,438 $19,179 $20,213 $20,300 $20,628 $20,718
Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Gross Margin $0 $9,105 $10,714 $15,087 $18,092 $18,461 $18,438 $19,179 $20,213 $20,300 $20,628 $20,718
Gross Margin % 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Expenses
Payroll $5,500 $8,550 $8,550 $9,450 $9,450 $9,450 $9,450 $10,350 $10,350 $10,350 $10,350 $10,350
Sales and Marketing and Other Expenses $180 $180 $180 $180 $180 $180 $180 $180 $180 $180 $180 $180
Depreciation $139 $139 $139 $139 $139 $139 $139 $139 $139 $139 $139 $139
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125
Rent $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Payroll Taxes 15% $825 $1,283 $1,283 $1,418 $1,418 $1,418 $1,418 $1,553 $1,553 $1,553 $1,553 $1,553
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $6,969 $10,477 $10,477 $11,512 $11,512 $11,512 $11,512 $12,547 $12,547 $12,547 $12,547 $12,547
Profit Before Interest and Taxes ($6,969) ($1,372) $238 $3,576 $6,581 $6,950 $6,927 $6,633 $7,667 $7,754 $8,082 $8,172
EBITDA ($6,830) ($1,233) $377 $3,715 $6,720 $7,089 $7,066 $6,772 $7,806 $7,893 $8,221 $8,311
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred ($2,091) ($343) $59 $894 $1,645 $1,737 $1,732 $1,658 $1,917 $1,938 $2,020 $2,043
Net Profit ($4,878) ($1,029) $178 $2,682 $4,935 $5,212 $5,195 $4,974 $5,750 $5,815 $6,061 $6,129
Net Profit/Sales 0.00% -11.30% 1.66% 17.77% 27.28% 28.23% 28.17% 25.94% 28.45% 28.65% 29.38% 29.58%
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 $2,276 $2,679 $3,772 $4,523 $4,615 $4,610 $4,795 $5,053 $5,075 $5,157 $5,180
Cash from Receivables $0 $0 $228 $6,869 $8,145 $11,390 $13,578 $13,845 $13,847 $14,410 $15,162 $15,233
Subtotal Cash from Operations $0 $2,276 $2,906 $10,641 $12,668 $16,006 $18,188 $18,640 $18,900 $19,485 $20,319 $20,413
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 $2,276 $2,906 $10,641 $12,668 $16,006 $18,188 $18,640 $18,900 $19,485 $20,319 $20,413
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 $5,500 $8,550 $8,550 $9,450 $9,450 $9,450 $9,450 $10,350 $10,350 $10,350 $10,350 $10,350
Bill Payments ($761) ($687) $1,458 $1,879 $2,841 $3,571 $3,660 $3,656 $3,724 $3,975 $3,999 $4,079
Subtotal Spent on Operations $4,739 $7,863 $10,008 $11,329 $12,291 $13,021 $13,110 $14,006 $14,074 $14,325 $14,349 $14,429
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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
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 $4,739 $7,863 $10,008 $11,329 $12,291 $13,021 $13,110 $14,006 $14,074 $14,325 $14,349 $14,429
Net Cash Flow ($4,739) ($5,587) ($7,102) ($688) $376 $2,985 $5,078 $4,634 $4,826 $5,160 $5,970 $5,984
Cash Balance $14,011 $8,424 $1,322 $634 $1,010 $3,995 $9,073 $13,707 $18,533 $23,693 $29,663 $35,648
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 $18,750 $14,011 $8,424 $1,322 $634 $1,010 $3,995 $9,073 $13,707 $18,533 $23,693 $29,663 $35,648
Accounts Receivable $0 $0 $6,829 $14,637 $19,083 $24,507 $26,962 $27,213 $27,752 $29,065 $29,879 $30,188 $30,494
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $18,750 $14,011 $15,253 $15,959 $19,717 $25,517 $30,958 $36,286 $41,459 $47,597 $53,573 $59,852 $66,141
Long-term Assets
Long-term Assets $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Accumulated Depreciation $0 $139 $278 $417 $556 $695 $834 $973 $1,112 $1,251 $1,390 $1,529 $1,668
Total Long-term Assets $5,000 $4,861 $4,722 $4,583 $4,444 $4,305 $4,166 $4,027 $3,888 $3,749 $3,610 $3,471 $3,332
Total Assets $23,750 $18,872 $19,975 $20,542 $24,161 $29,822 $35,124 $40,313 $45,347 $51,346 $57,183 $63,323 $69,473
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 $2,132 $2,521 $3,458 $4,184 $4,273 $4,268 $4,327 $4,577 $4,598 $4,677 $4,699
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 $2,132 $2,521 $3,458 $4,184 $4,273 $4,268 $4,327 $4,577 $4,598 $4,677 $4,699
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $0 $2,132 $2,521 $3,458 $4,184 $4,273 $4,268 $4,327 $4,577 $4,598 $4,677 $4,699
Paid-in Capital $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
Retained Earnings ($1,250) ($1,250) ($1,250) ($1,250) ($1,250) ($1,250) ($1,250) ($1,250) ($1,250) ($1,250) ($1,250) ($1,250) ($1,250)
Earnings $0 ($4,878) ($5,907) ($5,729) ($3,047) $1,888 $7,100 $12,295 $17,270 $23,019 $28,835 $34,896 $41,024
Total Capital $23,750 $18,872 $17,843 $18,021 $20,703 $25,638 $30,850 $36,045 $41,020 $46,769 $52,585 $58,646 $64,774
Total Liabilities and Capital $23,750 $18,872 $19,975 $20,542 $24,161 $29,822 $35,124 $40,313 $45,347 $51,346 $57,183 $63,323 $69,473
Net Worth $23,750 $18,872 $17,843 $18,021 $20,703 $25,638 $30,850 $36,045 $41,020 $46,769 $52,585 $58,646 $64,774