Plan Outline
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SIC 3841 Mesr/Anlyz/Cntrl Instrmnts; Photo/Med/Opt Gds; Watchs/Clocks - Surgical and medical instruments
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Medical Equipment Developer Business Plan
Medquip, Inc.
This sample business plan can be edited directly in Business Plan Pro software.
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 | |||||||||||||
| Visi-Band (direct) | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $16,250 | $19,500 | $26,000 |
| Visi-Band (distributor) | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32,500 | $39,000 | $65,000 |
| Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $48,750 | $58,500 | $91,000 | |
| 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 | |
| Visi-Band (direct) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3,250 | $3,900 | $5,200 | |
| Visi-Band (distributor) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $12,025 | $14,430 | $24,050 | |
| Other | $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 | $15,275 | $18,330 | $29,250 | |
| 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 | ||
| Production Personnel | |||||||||||||
| Production Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5,000 | $5,000 | $5,000 | $5,000 | |
| Assembly Workers | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6,000 | $6,000 | $6,000 | $6,000 | |
| Subtotal | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11,000 | $11,000 | $11,000 | $11,000 | |
| Sales and Marketing Personnel | |||||||||||||
| VP Sales & Marketing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $7,500 | $7,500 | $7,500 | $7,500 | |
| Sales Manager | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5,000 | $5,000 | $5,000 | $5,000 | |
| Field Sales Mgr. | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Marketing/Product Mgr. | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales Reps (3) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Sales Administrator | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2,000 | $2,000 | $2,000 | $2,000 | |
| Subtotal | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14,500 | $14,500 | $14,500 | $14,500 | |
| General and Administrative Personnel | |||||||||||||
| CEO | $0 | $0 | $0 | $0 | $0 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| VP Corp Development | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | |
| CFO | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Executive Assistant | $0 | $0 | $0 | $0 | $0 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | |
| Executive Secretary | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Controller | $0 | $0 | $0 | $0 | $0 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | $3,600 | |
| Administrative Staff (4) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $17,500 | $17,500 | $17,500 | $17,500 | $17,500 | $17,500 | $17,500 | |
| Other Personnel | |||||||||||||
| VP Research & Dev. | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | |
| Design Engineer | $0 | $0 | $0 | $0 | $0 | $0 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | |
| Compliance Specialist | $0 | $0 | $0 | $0 | $0 | $0 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Junior Engineer | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Research Engineers (3) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $14,500 | $14,500 | $18,500 | $18,500 | $18,500 | $18,500 | |
| Total People | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Total Payroll | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $21,000 | $32,000 | $32,000 | $61,500 | $61,500 | $61,500 | $61,500 | |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $48,750 | $58,500 | $91,000 | |
| Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,275 | $18,330 | $29,250 | |
| Production Payroll | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11,000 | $11,000 | $11,000 | $11,000 | |
| Other Costs of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11,000 | $26,275 | $29,330 | $40,250 | |
| Gross Margin | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ($11,000) | $22,475 | $29,170 | $50,750 | |
| Gross Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 46.10% | 49.86% | 55.77% | |
| Operating Expenses | |||||||||||||
| Sales and Marketing Expenses | |||||||||||||
| Sales and Marketing Payroll | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14,500 | $14,500 | $14,500 | $14,500 | |
| Advertising/Promotion | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4,000 | $4,000 | $4,000 | $4,000 | |
| Travel | $0 | $0 | $0 | $0 | $5,000 | $0 | $0 | $0 | $2,000 | $2,000 | $2,000 | $2,000 | |
| Miscellaneous | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1,500 | $1,500 | $1,500 | $1,500 | |
| Total Sales and Marketing Expenses | $0 | $0 | $0 | $0 | $5,000 | $0 | $0 | $0 | $22,000 | $22,000 | $22,000 | $22,000 | |
| Sales and Marketing % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 45.13% | 37.61% | 24.18% | |
| General and Administrative Expenses | |||||||||||||
| General and Administrative Payroll | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $17,500 | $17,500 | $17,500 | $17,500 | $17,500 | $17,500 | $17,500 | |
| Marketing/Promotion | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $400,000 | $0 | $0 | $0 | $600,000 | |
| Rent | $2,325 | $2,325 | $2,325 | $2,325 | $2,325 | $2,325 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | |
| Utilities | $0 | $0 | $0 | $250 | $250 | $250 | $250 | $800 | $800 | $800 | $800 | $800 | |
| Insurance | $0 | $0 | $0 | $3,000 | $3,000 | $3,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | |
| Legal Expenses | 0% | $1,050 | $9,890 | $8,123 | $10,000 | $10,000 | $8,000 | $4,800 | $4,800 | $9,225 | $9,225 | $9,225 | $9,225 |
| Payroll Taxes | 15% | $1,050 | $1,050 | $1,050 | $1,050 | $1,050 | $3,150 | $4,800 | $4,800 | $9,225 | $9,225 | $9,225 | $9,225 |
| Other General and Administrative Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total General and Administrative Expenses | $7,925 | $16,765 | $14,998 | $20,125 | $20,125 | $34,225 | $39,850 | $440,400 | $49,250 | $49,250 | $49,250 | $649,250 | |
| General and Administrative % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 101.03% | 84.19% | 713.46% | |
| Other Expenses: | |||||||||||||
| Other Payroll | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $3,500 | $14,500 | $14,500 | $18,500 | $18,500 | $18,500 | $18,500 | |
| Consultants | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Contract/Consultants | $0 | $0 | $3,000 | $0 | $0 | $0 | $0 | $0 | $3,000 | $3,000 | $3,000 | $3,000 | |
| Total Other Expenses | $3,500 | $3,500 | $6,500 | $3,500 | $3,500 | $3,500 | $14,500 | $14,500 | $21,500 | $21,500 | $21,500 | $21,500 | |
| Other % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 44.10% | 36.75% | 23.63% | |
| Total Operating Expenses | $11,425 | $20,265 | $21,498 | $23,625 | $28,625 | $37,725 | $54,350 | $454,900 | $92,750 | $92,750 | $92,750 | $692,750 | |
| Profit Before Interest and Taxes | ($11,425) | ($20,265) | ($21,498) | ($23,625) | ($28,625) | ($37,725) | ($54,350) | ($454,900) | ($103,750) | ($70,275) | ($63,580) | ($642,000) | |
| EBITDA | ($11,425) | ($20,265) | ($21,498) | ($23,625) | ($28,625) | ($37,725) | ($54,350) | ($454,900) | ($103,750) | ($70,275) | ($63,580) | ($642,000) | |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5,000 | |
| Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Profit | ($11,425) | ($20,265) | ($21,498) | ($23,625) | ($28,625) | ($37,725) | ($54,350) | ($454,900) | ($103,750) | ($70,275) | ($63,580) | ($647,000) | |
| Net Profit/Sales | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -144.15% | -108.68% | -710.99% | |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17,063 | $20,475 | $31,850 | |
| Cash from Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1,056 | $31,899 | |
| Subtotal Cash from Operations | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17,063 | $21,531 | $63,749 | |
| 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 | $600,000 | |
| New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $600,000 | |
| 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 | $450,000 | $400,000 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Cash Received | $0 | $0 | $0 | $0 | $450,000 | $400,000 | $0 | $0 | $0 | $17,063 | $21,531 | $1,263,749 | |
| 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 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $21,000 | $32,000 | $32,000 | $61,500 | $61,500 | $61,500 | $61,500 | |
| Bill Payments | $148 | $4,720 | $13,306 | $14,569 | $16,792 | $21,462 | $16,913 | $35,702 | $410,212 | $43,268 | $72,495 | $84,428 | |
| Subtotal Spent on Operations | $7,148 | $11,720 | $20,306 | $21,569 | $23,792 | $42,462 | $48,913 | $67,702 | $471,712 | $104,768 | $133,995 | $145,928 | |
| 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 | $7,148 | $11,720 | $20,306 | $21,569 | $23,792 | $42,462 | $48,913 | $67,702 | $471,712 | $104,768 | $133,995 | $145,928 | |
| Net Cash Flow | ($7,148) | ($11,720) | ($20,306) | ($21,569) | $426,208 | $357,538 | ($48,913) | ($67,702) | ($471,712) | ($87,706) | ($112,463) | $1,117,821 | |
| Cash Balance | $120,853 | $109,133 | $88,827 | $67,258 | $493,466 | $851,005 | $802,092 | $734,390 | $262,679 | $174,973 | $62,510 | $1,180,331 | |
| 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 | $128,000 | $120,853 | $109,133 | $88,827 | $67,258 | $493,466 | $851,005 | $802,092 | $734,390 | $262,679 | $174,973 | $62,510 | $1,180,331 |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $31,688 | $68,656 | $95,908 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,275 | $18,330 | $29,250 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $128,000 | $120,853 | $109,133 | $88,827 | $67,258 | $493,466 | $851,005 | $802,092 | $734,390 | $262,679 | $221,935 | $149,496 | $1,305,488 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $128,000 | $120,853 | $109,133 | $88,827 | $67,258 | $493,466 | $851,005 | $802,092 | $734,390 | $262,679 | $221,935 | $149,496 | $1,305,488 |
| 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 | $4,278 | $12,823 | $14,015 | $16,071 | $20,904 | $16,167 | $21,605 | $408,803 | $40,842 | $70,373 | $61,514 | $664,506 |
| 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 | $600,000 |
| Subtotal Current Liabilities | $0 | $4,278 | $12,823 | $14,015 | $16,071 | $20,904 | $16,167 | $21,605 | $408,803 | $40,842 | $70,373 | $61,514 | $1,264,506 |
| Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $600,000 |
| Total Liabilities | $0 | $4,278 | $12,823 | $14,015 | $16,071 | $20,904 | $16,167 | $21,605 | $408,803 | $40,842 | $70,373 | $61,514 | $1,864,506 |
| Paid-in Capital | $258,000 | $258,000 | $258,000 | $258,000 | $258,000 | $708,000 | $1,108,000 | $1,108,000 | $1,108,000 | $1,108,000 | $1,108,000 | $1,108,000 | $1,108,000 |
| Retained Earnings | ($130,000) | ($130,000) | ($130,000) | ($130,000) | ($130,000) | ($130,000) | ($130,000) | ($130,000) | ($130,000) | ($130,000) | ($130,000) | ($130,000) | ($130,000) |
| Earnings | $0 | ($11,425) | ($31,690) | ($53,188) | ($76,813) | ($105,438) | ($143,163) | ($197,513) | ($652,413) | ($756,163) | ($826,438) | ($890,018) | ($1,537,018) |
| Total Capital | $128,000 | $116,575 | $96,310 | $74,812 | $51,187 | $472,562 | $834,837 | $780,487 | $325,587 | $221,837 | $151,562 | $87,982 | ($559,018) |
| Total Liabilities and Capital | $128,000 | $120,853 | $109,133 | $88,827 | $67,258 | $493,466 | $851,005 | $802,092 | $734,390 | $262,679 | $221,935 | $149,496 | $1,305,488 |
| Net Worth | $128,000 | $116,575 | $96,310 | $74,812 | $51,187 | $472,562 | $834,837 | $780,487 | $325,587 | $221,837 | $151,562 | $87,982 | ($559,018) |
