Residential Remodeling Business Plan

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Appendix

Sales Forecast
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Sales
Commercial $3,237 $3,699 $5,780 $11,098 $16,416 $20,116 $19,884 $16,647 $12,486 $9,249 $6,705 $6,474
Residential $73,410 $76,879 $77,746 $89,884 $96,243 $101,156 $99,711 $109,827 $111,850 $119,075 $116,301 $116,532
Other $151 $151 $151 $151 $151 $151 $151 $151 $2,900 $3,587 $151 $151
Total Sales $76,798 $80,729 $83,677 $101,133 $112,810 $121,423 $119,746 $126,625 $127,236 $131,911 $123,157 $123,157
Direct Cost of Sales Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Materials $13,056 $13,724 $14,225 $17,193 $19,178 $20,642 $20,357 $21,526 $21,630 $22,425 $20,937 $20,937
Sub Contractor Costs $26,879 $28,255 $29,287 $35,397 $39,484 $42,498 $41,911 $44,319 $44,533 $46,169 $43,105 $43,105
Permits & Licensing $282 $282 $282 $282 $282 $282 $282 $282 $282 $282 $282 $282
Sales Costs w/commision $484 $509 $527 $637 $711 $765 $754 $798 $802 $831 $776 $776
Warranties $377 $385 $393 $401 $409 $417 $425 $434 $443 $452 $461 $470
Trash $530 $530 $530 $530 $530 $530 $530 $530 $530 $530 $530 $530
Other $161 $161 $161 $161 $161 $161 $161 $161 $161 $161 $161 $161
Subtotal Direct Cost of Sales $41,769 $43,846 $45,406 $54,601 $60,754 $65,295 $64,421 $68,050 $68,381 $70,850 $66,252 $66,261
Personnel Plan
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Labor $14,986 $14,986 $14,986 $14,986 $14,986 $14,986 $14,986 $14,986 $14,986 $14,985 $14,985 $14,985
Prod. Manager $3,153 $3,153 $3,153 $3,153 $3,153 $3,153 $3,153 $3,153 $3,153 $3,154 $3,154 $3,154
Design $887 $887 $887 $887 $887 $887 $887 $888 $888 $888 $888 $888
Prod Mgr (office) $773 $773 $773 $773 $773 $773 $773 $773 $773 $773 $773 $773
Sales (salaried/draw) $712 $713 $713 $713 $713 $713 $713 $713 $713 $713 $713 $713
Office $3,555 $3,555 $3,555 $3,555 $3,555 $3,555 $3,555 $3,555 $3,555 $3,555 $3,555 $3,555
Owners $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500 $6,500
Total People 12 12 12 12 1 12 12 12 12 12 12 12
Total Payroll $30,566 $30,567 $30,567 $30,567 $30,567 $30,567 $30,567 $30,568 $30,568 $30,568 $30,568 $30,568
General Assumptions
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current 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%
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 25.00% 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
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Sales $76,798 $80,729 $83,677 $101,133 $112,810 $121,423 $119,746 $126,625 $127,236 $131,911 $123,157 $123,157
Direct Cost of Sales $41,769 $43,846 $45,406 $54,601 $60,754 $65,295 $64,421 $68,050 $68,381 $70,850 $66,252 $66,261
Other Costs of Goods $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $41,769 $43,846 $45,406 $54,601 $60,754 $65,295 $64,421 $68,050 $68,381 $70,850 $66,252 $66,261
Gross Margin $35,029 $36,883 $38,271 $46,532 $52,056 $56,128 $55,325 $58,575 $58,855 $61,061 $56,905 $56,896
Gross Margin % 45.61% 45.69% 45.74% 46.01% 46.14% 46.22% 46.20% 46.26% 46.26% 46.29% 46.21% 46.20%
Expenses
Payroll $30,566 $30,567 $30,567 $30,567 $30,567 $30,567 $30,567 $30,568 $30,568 $30,568 $30,568 $30,568
Advertising $556 $612 $673 $740 $814 $895 $985 $1,084 $1,192 $1,311 $1,442 $1,586
Depreciation $738 $738 $738 $738 $738 $738 $738 $738 $738 $738 $738 $738
Marketing $643 $707 $778 $856 $942 $1,036 $1,140 $1,254 $1,379 $1,517 $1,669 $1,836
Bad Debts $187 $187 $187 $187 $187 $187 $187 $187 $187 $187 $187 $187
Donations $197 $197 $197 $197 $197 $197 $197 $197 $197 $197 $197 $197
Entertainment 50% $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175
Employee Benefits $4,129 $4,335 $4,552 $4,780 $5,019 $5,270 $5,534 $5,811 $6,102 $6,407 $6,727 $7,063
Equipment Buy/Rental $244 $256 $269 $282 $296 $311 $327 $343 $360 $378 $397 $417
Interest/Bank Charges ($17) ($17) ($17) ($17) ($17) ($17) ($17) ($17) ($17) ($17) ($17) ($17)
Tool Repair/Replacement $230 $230 $230 $230 $230 $230 $230 $230 $230 $230 $230 $230
Computer/Hardware/Software Consultants $541 $568 $596 $626 $657 $690 $724 $760 $798 $838 $880 $924
Dues/Sub/Licenses/Royalties/Trade Assoc $237 $237 $237 $237 $237 $237 $237 $237 $237 $237 $237 $237
Corp & Business Taxes $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175 $175
Legal Expenses $109 $109 $109 $109 $109 $109 $109 $109 $109 $109 $109 $109
Accounting Expenses $194 $194 $194 $194 $194 $194 $194 $194 $194 $194 $194 $194
Rent of Office/Warehouse Space $1,210 $1,210 $1,210 $1,210 $1,210 $1,210 $1,210 $1,210 $1,210 $1,210 $1,210 $1,210
Repairs/Maintenance $95 $95 $95 $95 $95 $95 $95 $95 $95 $95 $95 $95
Communications $780 $780 $780 $780 $780 $780 $780 $780 $780 $780 $780 $780
Utilities $77 $77 $77 $77 $77 $77 $77 $77 $77 $77 $77 $77
Office Expenses $701 $701 $701 $701 $701 $701 $701 $701 $701 $701 $701 $701
Miscellaneous/Other $382 $382 $382 $382 $382 $382 $382 $382 $382 $382 $382 $382
Liability Insurance $626 $626 $626 $626 $626 $626 $626 $626 $626 $626 $626 $626
Vehicle Expenses & Insurance $866 $866 $866 $866 $866 $866 $866 $866 $866 $866 $866 $866
Liability Insurance for employees $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42 $42
Vehicle Expenses & Insurance $337 $337 $337 $337 $337 $337 $337 $337 $337 $337 $337 $337
Insurance - General (#43) 15% $85 $85 $85 $85 $85 $85 $85 $85 $85 $85 $85 $85
Payroll Taxes 18% $5,471 $5,472 $5,472 $5,472 $5,472 $5,472 $5,472 $5,472 $5,472 $5,472 $5,472 $5,472
Total Operating Expenses $49,578 $49,944 $50,334 $50,750 $51,194 $51,668 $52,176 $52,719 $53,298 $53,918 $54,582 $55,293
Profit Before Interest and Taxes ($14,549) ($13,061) ($12,062) ($4,217) $862 $4,460 $3,150 $5,856 $5,557 $7,143 $2,323 $1,603
EBITDA ($13,811) ($12,323) ($11,324) ($3,479) $1,600 $5,198 $3,888 $6,594 $6,295 $7,881 $3,061 $2,341
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($14,549) ($13,061) ($12,062) ($4,217) $862 $4,460 $3,150 $5,856 $5,557 $7,143 $2,323 $1,603
Net Profit/Sales -18.94% -16.18% -14.42% -4.17% 0.76% 3.67% 2.63% 4.62% 4.37% 5.42% 1.89% 1.30%
Pro Forma Cash Flow
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Cash Received
Cash from Operations
Cash Sales $19,200 $20,182 $20,919 $25,283 $28,203 $30,356 $29,937 $31,656 $31,809 $32,978 $30,789 $30,789
Cash from Receivables $294,000 $294,000 $177,719 $59,171 $61,726 $69,740 $80,521 $88,053 $90,396 $92,561 $95,213 $97,297
Subtotal Cash from Operations $313,200 $314,182 $198,638 $84,454 $89,928 $100,096 $110,457 $119,709 $122,205 $125,539 $126,002 $128,086
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 $313,200 $314,182 $198,638 $84,454 $89,928 $100,096 $110,457 $119,709 $122,205 $125,539 $126,002 $128,086
Expenditures Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Expenditures from Operations
Cash Spending $30,566 $30,567 $30,567 $30,567 $30,567 $30,567 $30,567 $30,568 $30,568 $30,568 $30,568 $30,568
Bill Payments $71,721 $60,124 $62,550 $64,755 $74,265 $80,810 $85,646 $85,430 $89,493 $90,475 $93,331 $89,552
Subtotal Spent on Operations $102,288 $90,691 $93,117 $95,322 $104,832 $111,377 $116,213 $115,998 $120,061 $121,044 $123,899 $120,120
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 $102,288 $90,691 $93,117 $95,322 $104,832 $111,377 $116,213 $115,998 $120,061 $121,044 $123,899 $120,120
Net Cash Flow $210,912 $223,491 $105,522 ($10,868) ($14,904) ($11,281) ($5,756) $3,710 $2,144 $4,495 $2,103 $7,967
Cash Balance $394,340 $617,831 $723,353 $712,485 $697,581 $686,300 $680,544 $684,255 $686,399 $690,894 $692,997 $700,964
Pro Forma Balance Sheet
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Assets Starting Balances
Current Assets
Cash $183,428 $394,340 $617,831 $723,353 $712,485 $697,581 $686,300 $680,544 $684,255 $686,399 $690,894 $692,997 $700,964
Accounts Receivable $735,000 $498,599 $265,145 $150,184 $166,863 $189,744 $211,071 $220,360 $227,276 $232,307 $238,679 $235,834 $230,904
Other Current Assets $31,380 $31,380 $31,380 $31,380 $31,380 $31,380 $31,380 $31,380 $31,380 $31,380 $31,380 $31,380 $31,380
Total Current Assets $949,808 $924,318 $914,356 $904,916 $910,728 $918,705 $928,751 $932,284 $942,911 $950,086 $960,953 $960,211 $963,249
Long-term Assets
Long-term Assets $145,879 $145,879 $145,879 $145,879 $145,879 $145,879 $145,879 $145,879 $145,879 $145,879 $145,879 $145,879 $145,879
Accumulated Depreciation $56,879 $57,617 $58,355 $59,093 $59,831 $60,569 $61,307 $62,045 $62,783 $63,521 $64,259 $64,997 $65,735
Total Long-term Assets $89,000 $88,262 $87,524 $86,786 $86,048 $85,310 $84,572 $83,834 $83,096 $82,358 $81,620 $80,882 $80,144
Total Assets $1,038,808 $1,012,580 $1,001,880 $991,702 $996,776 $1,004,015 $1,013,323 $1,016,118 $1,026,007 $1,032,444 $1,042,573 $1,041,093 $1,043,393
Liabilities and Capital Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Current Liabilities
Accounts Payable $69,720 $58,041 $60,402 $62,286 $71,577 $77,955 $82,803 $82,448 $86,481 $87,360 $90,347 $86,543 $87,239
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 $69,720 $58,041 $60,402 $62,286 $71,577 $77,955 $82,803 $82,448 $86,481 $87,360 $90,347 $86,543 $87,239
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $69,720 $58,041 $60,402 $62,286 $71,577 $77,955 $82,803 $82,448 $86,481 $87,360 $90,347 $86,543 $87,239
Paid-in Capital $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000
Retained Earnings $949,088 $949,088 $949,088 $949,088 $949,088 $949,088 $949,088 $949,088 $949,088 $949,088 $949,088 $949,088 $949,088
Earnings $0 ($14,549) ($27,610) ($39,672) ($43,889) ($43,027) ($38,567) ($35,418) ($29,562) ($24,004) ($16,861) ($14,538) ($12,935)
Total Capital $969,088 $954,539 $941,478 $929,416 $925,199 $926,061 $930,521 $933,670 $939,526 $945,084 $952,227 $954,550 $956,153
Total Liabilities and Capital $1,038,808 $1,012,580 $1,001,880 $991,702 $996,776 $1,004,015 $1,013,323 $1,016,118 $1,026,007 $1,032,444 $1,042,573 $1,041,093 $1,043,393
Net Worth $969,088 $954,539 $941,478 $929,416 $925,199 $926,061 $930,521 $933,670 $939,526 $945,084 $952,227 $954,550 $956,153
Long-term
FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018
Sales $1,328,403 $1,496,903 $1,666,998 $1,822,098 $1,982,202 $1,995,000 $2,024,925 $2,055,299 $2,086,128 $2,117,420
Cost of Sales $715,885 $805,135 $895,541 $978,094 $1,063,327 $1,057,350 $1,073,210 $1,089,308 $1,105,648 $1,122,233
Gross Margin $612,517 $691,768 $771,457 $844,004 $918,875 $937,650 $951,715 $965,990 $980,480 $995,188
Gross Margin % 46.11% 46.21% 46.28% 46.32% 46.36% 47.00% 47.00% 47.00% 47.00% 47.00%
Operating Expenses $625,452 $668,161 $703,328 $740,345 $779,309 $778,050 $789,721 $801,567 $813,590 $825,794
Operating Income ($12,935) $23,607 $68,129 $103,658 $139,566 $159,600 $161,994 $164,424 $166,890 $169,394
Net Income ($12,935) $17,705 $51,097 $77,744 $104,675 $1,321,466 $1,453,613 $1,598,974 $1,758,872 $1,934,759
Current Assets $963,249 $989,191 $1,059,473 $1,156,141 $1,280,569 $1,283,130 $1,285,696 $1,288,267 $1,290,844 $1,293,426
Long-term Assets $80,144 $70,822 $61,009 $50,680 $39,807 $36,031 $39,634 $43,598 $47,958 $52,753
Current Liabilities $87,239 $86,155 $95,527 $104,122 $113,002 $92,950 $102,245 $112,470 $123,716 $136,088
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Equity $956,153 $973,858 $1,024,955 $1,102,699 $1,207,374 $1,226,211 $1,223,085 $1,219,396 $1,215,085 $1,210,091