Double Decker Tours of Washington

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Sightseeing Bus Tours 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
Sightseeing 0% $1,512,000 $1,512,000 $2,268,000 $1,512,000 $1,008,000 $756,000 $756,000 $756,000 $756,000 $1,008,000 $1,008,000 $1,516,000
Photographs 0% $16,967 $33,933 $33,933 $33,933 $33,933 $16,967 $16,967 $16,967 $16,967 $33,933 $33,933 $33,933
Charters 0% $5,000 $5,000 $7,000 $7,000 $7,000 $4,000 $3,500 $3,500 $5,000 $7,500 $9,000 $12,000
Total Sales $1,533,967 $1,550,933 $2,308,933 $1,552,933 $1,048,933 $776,967 $776,467 $776,467 $777,967 $1,049,433 $1,050,933 $1,561,933
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
Photo processing & Internet connection $3,000 $4,500 $4,500 $4,500 $4,150 $3,800 $3,606 $3,574 $3,000 $3,500 $4,000 $4,500
Fuel $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000
Subtotal Direct Cost of Sales $11,000 $12,500 $12,500 $12,500 $12,150 $11,800 $11,606 $11,574 $11,000 $11,500 $12,000 $12,500
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
Member Manager $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $6,000
Member Business Development $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167 $4,167
Driver/Guides $36,000 $36,000 $36,000 $36,000 $36,000 $36,000 $36,000 $36,000 $36,000 $36,000 $36,000 $36,000
Marketing/Sales Associates $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333 $8,333
Courtesy Captains $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000
Total People 22 22 22 22 22 22 22 22 22 22 22 22
Total Payroll $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500
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 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
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 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00%
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 $1,533,967 $1,550,933 $2,308,933 $1,552,933 $1,048,933 $776,967 $776,467 $776,467 $777,967 $1,049,433 $1,050,933 $1,561,933
Direct Cost of Sales $11,000 $12,500 $12,500 $12,500 $12,150 $11,800 $11,606 $11,574 $11,000 $11,500 $12,000 $12,500
Other Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $11,000 $12,500 $12,500 $12,500 $12,150 $11,800 $11,606 $11,574 $11,000 $11,500 $12,000 $12,500
Gross Margin $1,522,967 $1,538,433 $2,296,433 $1,540,433 $1,036,783 $765,167 $764,861 $764,893 $766,967 $1,037,933 $1,038,933 $1,549,433
Gross Margin % 99.28% 99.19% 99.46% 99.20% 98.84% 98.48% 98.51% 98.51% 98.59% 98.90% 98.86% 99.20%
Expenses
Payroll $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500
Sales and Marketing and Other Expenses $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000
Depreciation $5,091 $5,091 $5,091 $5,091 $5,091 $5,091 $5,091 $5,091 $5,091 $5,091 $5,091 $5,091
Rent $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000
Utilities $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800
Insurance $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Payroll Taxes 15% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Local Taxes $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Bus Maintenance $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Bookkeeping/Payroll $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Professional Asst. $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Telephones and Nextels $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600
Office Supplies $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250
Brochures $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350 $350
Licenses/Permits $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Website Maintenance $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Miscellaneous 15% $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Uniforms $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Total Operating Expenses $110,741 $110,741 $110,741 $110,741 $110,741 $110,741 $110,741 $110,741 $110,741 $110,741 $110,741 $110,741
Profit Before Interest and Taxes $1,405,559 $1,342,574 $2,059,388 $1,344,660 $868,539 $611,815 $611,626 $611,757 $613,821 $870,132 $871,181 $1,353,982
EBITDA $1,410,650 $1,347,665 $2,064,479 $1,349,751 $873,630 $616,906 $616,717 $616,848 $618,911 $875,223 $876,272 $1,359,073
Interest Expense $6,581 $6,494 $6,406 $6,318 $6,229 $6,139 $6,049 $5,958 $5,866 $5,773 $5,679 $5,585
Taxes Incurred $335,755 $320,659 $492,716 $321,202 $206,954 $145,362 $145,339 $145,392 $145,909 $207,446 $207,720 $323,615
Other Income
Interest Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Income Account Name $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Other Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Expense
Interest Expense $6,667 $6,581 $6,494 $6,406 $6,318 $6,229 $6,139 $6,049 $5,958 $5,866 $5,773 $5,679
Profit tax $0 $82,181 $78,538 $119,810 $78,626 $51,185 $36,382 $36,355 $36,346 $36,448 $51,195 $51,238 $79,031
Total Other Expense $6,667 $85,118 $126,304 $85,032 $57,503 $42,611 $42,494 $42,395 $42,406 $57,060 $57,011 $84,710
Net Other Income ($6,667) ($85,118) ($126,304) ($85,032) ($57,503) ($42,611) ($42,494) ($42,395) ($42,406) ($57,060) ($57,011) ($84,710)
Net Profit $1,063,224 $1,015,421 $1,560,266 $1,017,140 $655,355 $460,314 $460,239 $460,408 $462,046 $656,913 $657,781 $1,024,782
Net Profit/Sales 69.31% 65.47% 67.58% 65.50% 62.48% 59.24% 59.27% 59.30% 59.39% 62.60% 62.59% 65.61%
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 $1,533,967 $1,550,933 $2,308,933 $1,552,933 $1,048,933 $776,967 $776,467 $776,467 $777,967 $1,049,433 $1,050,933 $1,561,933
Subtotal Cash from Operations $1,533,967 $1,550,933 $2,308,933 $1,552,933 $1,048,933 $776,967 $776,467 $776,467 $777,967 $1,049,433 $1,050,933 $1,561,933
Additional Cash Received
Non Operating (Other) Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
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 $1,533,967 $1,550,933 $2,308,933 $1,552,933 $1,048,933 $776,967 $776,467 $776,467 $777,967 $1,049,433 $1,050,933 $1,561,933
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 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500 $62,500
Bill Payments $13,216 $396,029 $388,535 $549,052 $379,347 $266,416 $206,441 $206,141 $206,069 $207,990 $267,892 $272,426
Subtotal Spent on Operations $75,716 $458,529 $451,035 $611,552 $441,847 $328,916 $268,941 $268,641 $268,569 $270,490 $330,392 $334,926
Additional Cash Spent
Non Operating (Other) Expense $6,667 $85,118 $126,304 $85,032 $57,503 $42,611 $42,494 $42,395 $42,406 $57,060 $57,011 $84,710
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 $10,331 $10,417 $10,504 $10,591 $10,680 $10,769 $10,858 $10,949 $11,040 $11,132 $11,225 $11,318
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 $92,714 $554,065 $587,843 $707,175 $510,030 $382,295 $322,294 $321,985 $322,015 $338,682 $398,628 $430,955
Net Cash Flow $1,441,253 $996,868 $1,721,090 $845,758 $538,903 $394,672 $454,173 $454,482 $455,952 $710,751 $652,305 $1,130,978
Cash Balance $1,555,253 $2,552,122 $4,273,211 $5,118,969 $5,657,872 $6,052,544 $6,506,717 $6,961,199 $7,417,152 $8,127,903 $8,780,208 $9,911,187
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 $114,000 $1,555,253 $2,552,122 $4,273,211 $5,118,969 $5,657,872 $6,052,544 $6,506,717 $6,961,199 $7,417,152 $8,127,903 $8,780,208 $9,911,187
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $114,000 $1,555,253 $2,552,122 $4,273,211 $5,118,969 $5,657,872 $6,052,544 $6,506,717 $6,961,199 $7,417,152 $8,127,903 $8,780,208 $9,911,187
Long-term Assets
Long-term Assets $305,450 $305,450 $305,450 $305,450 $305,450 $305,450 $305,450 $305,450 $305,450 $305,450 $305,450 $305,450 $305,450
Accumulated Depreciation $0 $5,091 $10,182 $15,273 $20,363 $25,454 $30,545 $35,636 $40,727 $45,818 $50,908 $55,999 $61,090
Total Long-term Assets $305,450 $300,359 $295,268 $290,178 $285,087 $279,996 $274,905 $269,814 $264,723 $259,633 $254,542 $249,451 $244,360
Total Assets $419,450 $1,855,612 $2,847,390 $4,563,389 $5,404,056 $5,937,868 $6,327,449 $6,776,531 $7,225,923 $7,676,784 $8,382,445 $9,029,659 $10,155,547
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 $383,269 $370,043 $536,279 $370,398 $259,534 $199,570 $199,272 $199,205 $199,061 $258,940 $259,598 $372,022
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 $383,269 $370,043 $536,279 $370,398 $259,534 $199,570 $199,272 $199,205 $199,061 $258,940 $259,598 $372,022
Long-term Liabilities $800,000 $789,669 $779,252 $768,748 $758,157 $747,477 $736,708 $725,850 $714,901 $703,861 $692,729 $681,504 $670,186
Total Liabilities $800,000 $1,172,938 $1,149,295 $1,305,028 $1,128,554 $1,007,011 $936,278 $925,122 $914,106 $902,922 $951,669 $941,102 $1,042,207
Paid-in Capital $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,000
Retained Earnings ($420,550) ($420,550) ($420,550) ($420,550) ($420,550) ($420,550) ($420,550) ($420,550) ($420,550) ($420,550) ($420,550) ($420,550) ($420,550)
Earnings $0 $1,063,224 $2,078,645 $3,638,911 $4,656,051 $5,311,406 $5,771,720 $6,231,959 $6,692,367 $7,154,412 $7,811,325 $8,469,107 $9,493,889
Total Capital ($380,550) $682,674 $1,698,095 $3,258,361 $4,275,501 $4,930,856 $5,391,170 $5,851,409 $6,311,817 $6,773,862 $7,430,775 $8,088,557 $9,113,339
Total Liabilities and Capital $419,450 $1,855,612 $2,847,390 $4,563,389 $5,404,055 $5,937,867 $6,327,448 $6,776,531 $7,225,922 $7,676,784 $8,382,444 $9,029,659 $10,155,546
Net Worth ($380,550) $682,674 $1,698,095 $3,258,361 $4,275,501 $4,930,857 $5,391,170 $5,851,409 $6,311,817 $6,773,863 $7,430,776 $8,088,557 $9,113,339