Morningstar Bakery

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Specialty Baker 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
Breads 0% $3,000 $4,800 $6,000 $6,000 $6,800 $7,000 $7,000 $7,000 $6,800 $6,000 $7,500 $8,000
Coffee/Beverages 0% $0 $3,500 $3,500 $3,000 $3,000 $3,200 $3,200 $3,200 $3,200 $3,400 $3,500 $3,700
Lunch Items (Soups & Sandwiches) 0% $0 $0 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000
Pastries/Sweets 0% $2,000 $4,600 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $6,000 $6,800
Total Sales $5,000 $12,900 $22,500 $22,000 $22,800 $23,200 $23,200 $23,200 $23,000 $22,400 $25,000 $26,500
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
Breads $900 $1,440 $1,800 $1,800 $2,040 $2,100 $2,100 $2,100 $2,040 $1,800 $2,250 $2,400
Coffee/Beverages $0 $1,050 $1,050 $900 $900 $960 $960 $960 $960 $1,020 $1,050 $1,110
Lunch Items (Soups & Sandwiches) $0 $0 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200
Pastries/Sweets $800 $1,840 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,400 $2,720
Subtotal Direct Cost of Sales $1,700 $4,330 $8,050 $7,900 $8,140 $8,260 $8,260 $8,260 $8,200 $8,020 $8,900 $9,430
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
Donna Sharp - Head Baker 0% $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Lucy Hamilton 0% $1,750 $1,750 $1,750 $1,750 $1,750 $1,750 $1,750 $1,750 $1,750 $1,750 $1,750 $1,750
Tara Juniper-Reid - Part-time 0% $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750
Counter Help - Full Time 0% $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Assistant Baker - Part time 0% $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750
Donovan Hamilton - Bookkeeper 0% $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Total People 6 6 6 6 6 6 6 6 6 6 6 6
Total Payroll $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750
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 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00%
Long-term Interest Rate 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50%
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 $5,000 $12,900 $22,500 $22,000 $22,800 $23,200 $23,200 $23,200 $23,000 $22,400 $25,000 $26,500
Direct Cost of Sales $1,700 $4,330 $8,050 $7,900 $8,140 $8,260 $8,260 $8,260 $8,200 $8,020 $8,900 $9,430
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $1,700 $4,330 $8,050 $7,900 $8,140 $8,260 $8,260 $8,260 $8,200 $8,020 $8,900 $9,430
Gross Margin $3,300 $8,570 $14,450 $14,100 $14,660 $14,940 $14,940 $14,940 $14,800 $14,380 $16,100 $17,070
Gross Margin % 66.00% 66.43% 64.22% 64.09% 64.30% 64.40% 64.40% 64.40% 64.35% 64.20% 64.40% 64.42%
Expenses
Payroll $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750
Sales and Marketing and Other Expenses $1,820 $1,820 $1,820 $720 $720 $1,220 $720 $720 $720 $720 $1,020 $1,020
Depreciation $291 $291 $291 $291 $291 $291 $291 $291 $291 $291 $291 $291
Utilities $50 $50 $48 $45 $45 $35 $35 $35 $35 $45 $48 $48
Insurance $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Mortgage $900 $900 $900 $900 $900 $900 $900 $900 $900 $900 $900 $900
Payroll Taxes 12% $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $13,011 $13,011 $13,009 $11,906 $11,906 $12,396 $11,896 $11,896 $11,896 $11,906 $12,209 $12,209
Profit Before Interest and Taxes ($9,711) ($4,441) $1,441 $2,194 $2,754 $2,544 $3,044 $3,044 $2,904 $2,474 $3,891 $4,861
EBITDA ($9,420) ($4,150) $1,732 $2,485 $3,045 $2,835 $3,335 $3,335 $3,195 $2,765 $4,182 $5,152
Interest Expense $1,225 $1,225 $1,225 $1,225 $1,225 $1,225 $1,225 $1,225 $1,225 $1,225 $1,225 $1,225
Taxes Incurred ($3,281) ($1,417) $54 $242 $382 $330 $455 $455 $420 $312 $666 $909
Net Profit ($7,655) ($4,250) $162 $726 $1,146 $989 $1,364 $1,364 $1,259 $936 $1,999 $2,727
Net Profit/Sales -153.11% -32.94% 0.72% 3.30% 5.03% 4.26% 5.88% 5.88% 5.47% 4.18% 8.00% 10.29%
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 $5,000 $12,900 $22,500 $22,000 $22,800 $23,200 $23,200 $23,200 $23,000 $22,400 $25,000 $26,500
Subtotal Cash from Operations $5,000 $12,900 $22,500 $22,000 $22,800 $23,200 $23,200 $23,200 $23,000 $22,400 $25,000 $26,500
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 $5,000 $12,900 $22,500 $22,000 $22,800 $23,200 $23,200 $23,200 $23,000 $22,400 $25,000 $26,500
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 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750 $8,750
Bill Payments $120 $3,764 $8,282 $13,262 $12,245 $12,631 $13,158 $12,795 $12,792 $12,691 $12,474 $13,986
Subtotal Spent on Operations $8,870 $12,514 $17,032 $22,012 $20,995 $21,381 $21,908 $21,545 $21,542 $21,441 $21,224 $22,736
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 $8,870 $12,514 $17,032 $22,012 $20,995 $21,381 $21,908 $21,545 $21,542 $21,441 $21,224 $22,736
Net Cash Flow ($3,870) $386 $5,468 ($12) $1,805 $1,819 $1,292 $1,655 $1,458 $959 $3,776 $3,764
Cash Balance $8,222 $8,607 $14,075 $14,064 $15,868 $17,687 $18,980 $20,635 $22,093 $23,052 $26,828 $30,593
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 $12,092 $8,222 $8,607 $14,075 $14,064 $15,868 $17,687 $18,980 $20,635 $22,093 $23,052 $26,828 $30,593
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $12,092 $8,222 $8,607 $14,075 $14,064 $15,868 $17,687 $18,980 $20,635 $22,093 $23,052 $26,828 $30,593
Long-term Assets
Long-term Assets $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000 $175,000
Accumulated Depreciation $0 $291 $582 $873 $1,164 $1,455 $1,746 $2,037 $2,328 $2,619 $2,910 $3,201 $3,492
Total Long-term Assets $175,000 $174,709 $174,418 $174,127 $173,836 $173,545 $173,254 $172,963 $172,672 $172,381 $172,090 $171,799 $171,508
Total Assets $187,092 $182,931 $183,025 $188,202 $187,900 $189,413 $190,941 $191,943 $193,307 $194,474 $195,142 $198,627 $202,101
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 $3,494 $7,839 $12,854 $11,825 $12,192 $12,731 $12,369 $12,369 $12,277 $12,008 $13,494 $14,241
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000
Subtotal Current Liabilities $12,000 $15,494 $19,839 $24,854 $23,825 $24,192 $24,731 $24,369 $24,369 $24,277 $24,008 $25,494 $26,241
Long-term Liabilities $173,000 $173,000 $173,000 $173,000 $173,000 $173,000 $173,000 $173,000 $173,000 $173,000 $173,000 $173,000 $173,000
Total Liabilities $185,000 $188,494 $192,839 $197,854 $196,825 $197,192 $197,731 $197,369 $197,369 $197,277 $197,008 $198,494 $199,241
Paid-in Capital $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500
Retained Earnings ($5,408) ($5,408) ($5,408) ($5,408) ($5,408) ($5,408) ($5,408) ($5,408) ($5,408) ($5,408) ($5,408) ($5,408) ($5,408)
Earnings $0 ($7,655) ($11,905) ($11,744) ($11,017) ($9,871) ($8,882) ($7,518) ($6,154) ($4,895) ($3,959) ($1,959) $767
Total Capital $2,092 ($5,563) ($9,813) ($9,652) ($8,925) ($7,779) ($6,790) ($5,426) ($4,062) ($2,803) ($1,867) $133 $2,859
Total Liabilities and Capital $187,092 $182,931 $183,025 $188,202 $187,900 $189,413 $190,941 $191,943 $193,307 $194,474 $195,142 $198,627 $202,101
Net Worth $2,092 ($5,563) ($9,813) ($9,652) ($8,925) ($7,779) ($6,790) ($5,426) ($4,062) ($2,803) ($1,867) $133 $2,859