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Lift Bed Manufacturer Business Plan

Appendix

Sales Forecast
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Unit Sales
TORVEC 0% 0 0 10 20 20 0 0 0 20 50 50 100
FORD 0% 0 0 0 100 100 200 200 200 200 200 200 200
GM-LINER TONGUE 0% 0 0 0 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
PICKUP TRUCK KITS 0% 13 13 13 15 18 20 20 20 20 20 20 20
RAZORBACK 0% 7 6 7 8 9 10 10 10 10 10 10 10
TRAILER KITS 0% 0 0 5 0 0 5 0 0 5 0 0 5
LINER TONGUE 0% 10 10 10 200 10 200 200 200 200 200 200 200
Total Unit Sales 30 29 45 5,343 5,157 5,435 5,430 5,430 5,455 5,480 5,480 5,535
Unit Prices Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
TORVEC $3,652.00 $3,652.00 $3,652.00 $3,652.00 $3,652.00 $3,652.00 $3,652.00 $3,652.00 $3,652.00 $3,652.00 $3,652.00 $3,652.00
FORD $1,570.00 $1,570.00 $1,570.00 $1,570.00 $1,570.00 $1,570.00 $1,570.00 $1,570.00 $1,570.00 $1,570.00 $1,570.00 $1,570.00
GM-LINER TONGUE $12.52 $12.52 $12.52 $12.52 $12.52 $12.52 $12.52 $12.52 $12.52 $12.52 $12.52 $12.52
PICKUP TRUCK KITS $1,620.00 $1,620.00 $1,620.00 $1,620.00 $1,620.00 $1,620.00 $1,620.00 $1,620.00 $1,620.00 $1,620.00 $1,620.00 $1,620.00
RAZORBACK $205.00 $205.00 $205.00 $205.00 $205.00 $205.00 $205.00 $205.00 $205.00 $205.00 $205.00 $205.00
TRAILER KITS $1,295.00 $1,295.00 $1,295.00 $1,295.00 $1,295.00 $1,295.00 $1,295.00 $1,295.00 $1,295.00 $1,295.00 $1,295.00 $1,295.00
LINER TONGUE $16.20 $16.20 $16.20 $16.20 $16.20 $16.20 $16.20 $16.20 $16.20 $16.20 $16.20 $16.20
Sales
TORVEC $0 $0 $36,520 $73,040 $73,040 $0 $0 $0 $73,040 $182,600 $182,600 $365,200
FORD $0 $0 $0 $157,000 $157,000 $314,000 $314,000 $314,000 $314,000 $314,000 $314,000 $314,000
GM-LINER TONGUE $0 $0 $0 $62,600 $62,600 $62,600 $62,600 $62,600 $62,600 $62,600 $62,600 $62,600
PICKUP TRUCK KITS $21,060 $21,060 $21,060 $24,300 $29,160 $32,400 $32,400 $32,400 $32,400 $32,400 $32,400 $32,400
RAZORBACK $1,435 $1,230 $1,435 $1,640 $1,845 $2,050 $2,050 $2,050 $2,050 $2,050 $2,050 $2,050
TRAILER KITS $0 $0 $6,475 $0 $0 $6,475 $0 $0 $6,475 $0 $0 $6,475
LINER TONGUE $162 $162 $162 $3,240 $162 $3,240 $3,240 $3,240 $3,240 $3,240 $3,240 $3,240
Total Sales $22,657 $22,452 $65,652 $321,820 $323,807 $420,765 $414,290 $414,290 $493,805 $596,890 $596,890 $785,965
Direct Unit Costs Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
TORVEC 0.00% $2,421.00 $2,421.00 $2,421.00 $2,421.00 $2,421.00 $2,421.00 $2,421.00 $2,421.00 $2,421.00 $2,421.00 $2,421.00 $2,421.00
FORD 0.00% $631.00 $631.00 $631.00 $631.00 $631.00 $631.00 $631.00 $631.00 $631.00 $631.00 $631.00 $631.00
GM-LINER TONGUE 0.00% $2.52 $2.52 $2.52 $2.52 $2.52 $2.52 $2.52 $2.52 $2.52 $2.52 $2.52 $2.52
PICKUP TRUCK KITS 0.00% $650.00 $650.00 $650.00 $650.00 $650.00 $650.00 $650.00 $650.00 $650.00 $650.00 $650.00 $650.00
RAZORBACK 0.00% $77.00 $77.00 $77.00 $77.00 $77.00 $77.00 $77.00 $77.00 $77.00 $77.00 $77.00 $77.00
TRAILER KITS 0.00% $543.00 $543.00 $543.00 $543.00 $543.00 $543.00 $543.00 $543.00 $543.00 $543.00 $543.00 $543.00
LINER TONGUE 0.00% $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00
Direct Cost of Sales
TORVEC $0 $0 $24,210 $48,420 $48,420 $0 $0 $0 $48,420 $121,050 $121,050 $242,100
FORD $0 $0 $0 $63,100 $63,100 $126,200 $126,200 $126,200 $126,200 $126,200 $126,200 $126,200
GM-LINER TONGUE $0 $0 $0 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600
PICKUP TRUCK KITS $8,450 $8,450 $8,450 $9,750 $11,700 $13,000 $13,000 $13,000 $13,000 $13,000 $13,000 $13,000
RAZORBACK $539 $462 $539 $616 $693 $770 $770 $770 $770 $770 $770 $770
TRAILER KITS $0 $0 $2,715 $0 $0 $2,715 $0 $0 $2,715 $0 $0 $2,715
LINER TONGUE $30 $30 $30 $600 $30 $600 $600 $600 $600 $600 $600 $600
Subtotal Direct Cost of Sales $9,019 $8,942 $35,944 $135,086 $136,543 $155,885 $153,170 $153,170 $204,305 $274,220 $274,220 $397,985
Personnel Plan
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Production Personnel
Production Manager $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Operations Manager $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Other $0 $0 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400 $5,400
Subtotal $3,800 $3,800 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200
Sales and Marketing Personnel
Marketing Manager $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Administrator $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales Manager $0 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Regional Sales Manager $0 $0 $0 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Regional Sales Manager $0 $0 $0 $0 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Regional Sales Manager $0 $0 $0 $0 $0 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Subtotal $0 $4,000 $4,000 $7,000 $10,000 $13,000 $13,000 $13,000 $13,000 $13,000 $13,000 $13,000
General and Administrative Personnel
Administrative Manager $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Controller $0 $0 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Bookeeper $0 $0 $0 $0 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
AR/AP $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $3,000 $3,000 $4,800 $4,800 $6,300 $6,300 $6,300 $6,300 $6,300 $6,300 $6,300 $6,300
Other Personnel
ENGINEERING $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
PURCHASING $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
PRODUCTION CONTROL $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
R & D $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 4 4 8 9 11 12 12 12 12 12 12 12
Total Payroll $6,800 $10,800 $18,000 $21,000 $25,500 $28,500 $28,500 $28,500 $28,500 $28,500 $28,500 $28,500
General Assumptions
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Interest Rate 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%
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
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Sales $22,657 $22,452 $65,652 $321,820 $323,807 $420,765 $414,290 $414,290 $493,805 $596,890 $596,890 $785,965
Direct Cost of Sales $9,019 $8,942 $35,944 $135,086 $136,543 $155,885 $153,170 $153,170 $204,305 $274,220 $274,220 $397,985
Production Payroll $3,800 $3,800 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200 $9,200
Comissions $2,295 $6,000 $3,127 $3,729 $3,685 $5,340 $5,130 $5,840 $7,225 $7,225 $8,058 $9,923
Total Cost of Sales $15,114 $18,742 $48,271 $148,015 $149,428 $170,425 $167,500 $168,210 $220,730 $290,645 $291,478 $417,108
Gross Margin $7,543 $3,710 $17,381 $173,805 $174,379 $250,340 $246,790 $246,080 $273,075 $306,245 $305,412 $368,857
Gross Margin % 33.29% 16.52% 26.47% 54.01% 53.85% 59.50% 59.57% 59.40% 55.30% 51.31% 51.17% 46.93%
Operating Expenses
Sales and Marketing Expenses
Sales and Marketing Payroll $0 $4,000 $4,000 $7,000 $10,000 $13,000 $13,000 $13,000 $13,000 $13,000 $13,000 $13,000
Advertising/Promotion $171 $25,000 $28,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000
Travel $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000
Miscellaneous $4,000 $5,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
Total Sales and Marketing Expenses $11,171 $41,000 $45,000 $50,000 $53,000 $56,000 $56,000 $56,000 $56,000 $56,000 $56,000 $56,000
Sales and Marketing % 49.30% 182.61% 68.54% 15.54% 16.37% 13.31% 13.52% 13.52% 11.34% 9.38% 9.38% 7.12%
General and Administrative Expenses
General and Administrative Payroll $3,000 $3,000 $4,800 $4,800 $6,300 $6,300 $6,300 $6,300 $6,300 $6,300 $6,300 $6,300
Sales and Marketing and Other Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Depreciation $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
Leased Equipment $757 $757 $1,727 $1,727 $1,727 $1,727 $1,727 $1,727 $1,727 $1,727 $1,727 $1,727
Utilities/Phone/Postage $1,742 $1,742 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Insurance $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120
Rent $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875
Payroll Taxes 30% $2,040 $3,240 $5,400 $6,300 $7,650 $8,550 $8,550 $8,550 $8,550 $8,550 $8,550 $8,550
Other General and Administrative Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total General and Administrative Expenses $18,534 $19,734 $25,422 $26,322 $29,172 $30,072 $30,072 $30,072 $30,072 $30,072 $30,072 $30,072
General and Administrative % 81.80% 87.89% 38.72% 8.18% 9.01% 7.15% 7.26% 7.26% 6.09% 5.04% 5.04% 3.83%
Other Expenses:
Other Payroll $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Consultants $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Contract/Consultants $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Total Other Expenses $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Other % 17.65% 17.82% 6.09% 1.24% 1.24% 0.95% 0.97% 0.97% 0.81% 0.67% 0.67% 0.51%
Total Operating Expenses $33,705 $64,734 $74,422 $80,322 $86,172 $90,072 $90,072 $90,072 $90,072 $90,072 $90,072 $90,072
Profit Before Interest and Taxes ($26,162) ($61,024) ($57,041) $93,483 $88,207 $160,268 $156,718 $156,008 $183,003 $216,173 $215,340 $278,785
EBITDA ($20,162) ($55,024) ($51,041) $99,483 $94,207 $166,268 $162,718 $162,008 $189,003 $222,173 $221,340 $284,785
Interest Expense $9,083 $8,800 $8,767 $12,400 $12,367 $12,333 $12,300 $12,267 $12,233 $12,200 $12,167 $12,133
Taxes Incurred ($10,574) ($17,456) ($16,452) $20,271 $18,960 $36,984 $36,105 $35,935 $42,692 $50,993 $50,793 $66,663
Net Profit ($24,672) ($52,368) ($49,356) $60,812 $56,880 $110,951 $108,314 $107,806 $128,077 $152,980 $152,380 $199,989
Net Profit/Sales -108.89% -233.24% -75.18% 18.90% 17.57% 26.37% 26.14% 26.02% 25.94% 25.63% 25.53% 25.44%
Pro Forma Cash Flow
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cash Received
Cash from Operations
Cash Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Cash from Receivables $13,296 $14,051 $22,650 $23,892 $74,191 $321,886 $327,039 $420,549 $414,290 $416,941 $497,241 $596,890
Subtotal Cash from Operations $13,296 $14,051 $22,650 $23,892 $74,191 $321,886 $327,039 $420,549 $414,290 $416,941 $497,241 $596,890
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 $175,000 $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 $500,000 $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 $188,296 $14,051 $22,650 $523,892 $74,191 $321,886 $327,039 $420,549 $414,290 $416,941 $497,241 $596,890
Expenditures Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Expenditures from Operations
Cash Spending $6,800 $10,800 $18,000 $21,000 $25,500 $28,500 $28,500 $28,500 $28,500 $28,500 $28,500 $28,500
Bill Payments $74,852 $26,295 $49,278 $61,523 $248,441 $239,015 $295,654 $268,606 $275,834 $390,771 $483,773 $419,264
Subtotal Spent on Operations $81,652 $37,095 $67,278 $82,523 $273,941 $267,515 $324,154 $297,106 $304,334 $419,271 $512,273 $447,764
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 $25,000 $0 $50,000 $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 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
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 $85,652 $66,095 $71,278 $136,523 $277,941 $271,515 $328,154 $301,106 $308,334 $423,271 $516,273 $451,764
Net Cash Flow $102,643 ($52,045) ($48,627) $387,369 ($203,750) $50,371 ($1,115) $119,443 $105,956 ($6,330) ($19,032) $145,126
Cash Balance $105,449 $53,405 $4,777 $392,146 $188,397 $238,768 $237,653 $357,096 $463,052 $456,722 $437,690 $582,816
Pro Forma Balance Sheet
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Assets Starting Balances
Current Assets
Cash $2,806 $105,449 $53,405 $4,777 $392,146 $188,397 $238,768 $237,653 $357,096 $463,052 $456,722 $437,690 $582,816
Accounts Receivable $26,591 $35,953 $44,354 $87,356 $385,284 $634,900 $733,778 $821,029 $814,770 $894,285 $1,074,235 $1,173,884 $1,362,959
Inventory $187,673 $178,654 $169,712 $133,768 $148,595 $150,197 $171,474 $168,487 $168,487 $224,736 $301,642 $301,642 $437,784
Other Current Assets $5,418 $5,418 $5,418 $5,418 $5,418 $5,418 $5,418 $5,418 $5,418 $5,418 $5,418 $5,418 $5,418
Total Current Assets $222,488 $325,474 $272,888 $231,319 $931,443 $978,912 $1,149,438 $1,232,588 $1,345,772 $1,587,491 $1,838,017 $1,918,634 $2,388,977
Long-term Assets
Long-term Assets $362,502 $362,502 $362,502 $362,502 $362,502 $362,502 $362,502 $362,502 $362,502 $362,502 $362,502 $362,502 $362,502
Accumulated Depreciation $68,330 $74,330 $80,330 $86,330 $92,330 $98,330 $104,330 $110,330 $116,330 $122,330 $128,330 $134,330 $140,330
Total Long-term Assets $294,172 $288,172 $282,172 $276,172 $270,172 $264,172 $258,172 $252,172 $246,172 $240,172 $234,172 $228,172 $222,172
Total Assets $516,660 $613,646 $555,060 $507,491 $1,201,615 $1,243,084 $1,407,610 $1,484,760 $1,591,944 $1,827,663 $2,072,189 $2,146,806 $2,611,149
Liabilities and Capital Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Current Liabilities
Accounts Payable $74,002 $24,659 $47,442 $53,228 $240,540 $229,128 $286,704 $259,540 $262,918 $374,560 $470,106 $396,343 $664,697
Current Borrowing $385,239 $560,239 $535,239 $535,239 $485,239 $485,239 $485,239 $485,239 $485,239 $485,239 $485,239 $485,239 $485,239
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $459,241 $584,898 $582,681 $588,467 $725,779 $714,367 $771,943 $744,779 $748,157 $859,799 $955,345 $881,582 $1,149,936
Long-term Liabilities $421,710 $417,710 $413,710 $409,710 $905,710 $901,710 $897,710 $893,710 $889,710 $885,710 $881,710 $877,710 $873,710
Total Liabilities $880,951 $1,002,608 $996,391 $998,177 $1,631,489 $1,616,077 $1,669,653 $1,638,489 $1,637,867 $1,745,509 $1,837,055 $1,759,292 $2,023,646
Paid-in Capital $375,886 $375,886 $375,886 $375,886 $375,886 $375,886 $375,886 $375,886 $375,886 $375,886 $375,886 $375,886 $375,886
Retained Earnings ($686,386) ($740,177) ($740,177) ($740,177) ($740,177) ($740,177) ($740,177) ($740,177) ($740,177) ($740,177) ($740,177) ($740,177) ($740,177)
Earnings ($53,791) ($24,672) ($77,040) ($126,395) ($65,583) ($8,703) $102,248 $210,562 $318,368 $446,445 $599,425 $751,805 $951,794
Total Capital ($364,291) ($388,963) ($441,331) ($490,686) ($429,874) ($372,994) ($262,043) ($153,729) ($45,923) $82,154 $235,134 $387,514 $587,503
Total Liabilities and Capital $516,660 $613,646 $555,060 $507,491 $1,201,615 $1,243,084 $1,407,610 $1,484,760 $1,591,944 $1,827,663 $2,072,189 $2,146,806 $2,611,149
Net Worth ($364,291) ($388,963) ($441,331) ($490,686) ($429,874) ($372,994) ($262,043) ($153,729) ($45,923) $82,154 $235,134 $387,514 $587,503