Justin Seafood Market

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Wholesale Food Business Plan

Appendix

Sales Forecast
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Sales
Over-counter 0% $10,000 $10,000 $16,000 $16,000 $21,000 $26,000 $30,000 $40,000 $45,000 $40,000 $40,000 $40,000
Shipped 0% $2,000 $3,000 $5,000 $7,000 $9,000 $11,000 $14,000 $15,000 $17,000 $13,000 $10,000 $16,000
Restaurant Deliveries 0% $30,000 $30,000 $50,000 $55,000 $55,000 $60,000 $70,000 $80,000 $80,000 $70,000 $70,000 $70,000
Total Sales $42,000 $43,000 $71,000 $78,000 $85,000 $97,000 $114,000 $135,000 $142,000 $123,000 $120,000 $126,000
Direct Cost of Sales Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Over-counter $5,000 $5,000 $8,000 $8,000 $10,000 $13,000 $15,000 $20,000 $22,500 $20,000 $20,000 $20,000
Shipped $1,100 $1,600 $2,600 $3,800 $4,500 $5,500 $7,500 $8,000 $8,500 $6,500 $6,000 $8,500
Restaurant Deliveries $15,000 $15,000 $25,000 $27,000 $27,000 $30,000 $35,000 $40,000 $40,000 $35,000 $35,000 $35,000
Subtotal Direct Cost of Sales $21,100 $21,600 $35,600 $38,800 $41,500 $48,500 $57,500 $68,000 $71,000 $61,500 $61,000 $63,500
Personnel Plan
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Manager 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Market Staff (2-4) 0% $3,500 $3,500 $3,500 $5,250 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000
Clean-up Crew (2) 0% $3,800 $3,800 $3,800 $3,800 $3,800 $3,800 $3,800 $3,800 $3,800 $3,800 $3,800 $3,800
Delivery Staff (2-4) 0% $4,000 $4,000 $4,000 $6,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000
Sales Staff (3-4) 0% $7,500 $7,500 $7,500 $7,500 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Total People 10 10 10 12 15 15 15 15 15 15 15 15
Total Payroll $21,800 $21,800 $21,800 $25,550 $31,800 $31,800 $31,800 $31,800 $31,800 $31,800 $31,800 $31,800
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 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
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% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
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 $42,000 $43,000 $71,000 $78,000 $85,000 $97,000 $114,000 $135,000 $142,000 $123,000 $120,000 $126,000
Direct Cost of Sales $21,100 $21,600 $35,600 $38,800 $41,500 $48,500 $57,500 $68,000 $71,000 $61,500 $61,000 $63,500
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $21,100 $21,600 $35,600 $38,800 $41,500 $48,500 $57,500 $68,000 $71,000 $61,500 $61,000 $63,500
Gross Margin $20,900 $21,400 $35,400 $39,200 $43,500 $48,500 $56,500 $67,000 $71,000 $61,500 $59,000 $62,500
Gross Margin % 49.76% 49.77% 49.86% 50.26% 51.18% 50.00% 49.56% 49.63% 50.00% 50.00% 49.17% 49.60%
Expenses
Payroll $21,800 $21,800 $21,800 $25,550 $31,800 $31,800 $31,800 $31,800 $31,800 $31,800 $31,800 $31,800
Sales and Marketing and Other Expenses $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Depreciation $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800
Renovation Expenses $60,000 $40,000 $20,000 $30,000 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Insurance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Rent $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Payroll Taxes 15% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $88,100 $68,100 $48,100 $61,850 $38,100 $38,100 $38,100 $38,100 $38,100 $38,100 $38,100 $38,100
Profit Before Interest and Taxes ($67,200) ($46,700) ($12,700) ($22,650) $5,400 $10,400 $18,400 $28,900 $32,900 $23,400 $20,900 $24,400
EBITDA ($66,400) ($45,900) ($11,900) ($21,850) $6,200 $11,200 $19,200 $29,700 $33,700 $24,200 $21,700 $25,200
Interest Expense $983 $966 $949 $932 $915 $898 $881 $864 $847 $830 $813 $796
Taxes Incurred ($20,455) ($14,300) ($4,095) ($7,075) $1,345 $2,851 $5,256 $8,411 $9,616 $6,771 $6,026 $7,081
Net Profit ($47,728) ($33,366) ($9,554) ($16,507) $3,139 $6,651 $12,263 $19,625 $22,437 $15,799 $14,061 $16,523
Net Profit/Sales -113.64% -77.60% -13.46% -21.16% 3.69% 6.86% 10.76% 14.54% 15.80% 12.84% 11.72% 13.11%
Pro Forma Cash Flow
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cash Received
Cash from Operations
Cash Sales $25,200 $25,800 $42,600 $46,800 $51,000 $58,200 $68,400 $81,000 $85,200 $73,800 $72,000 $75,600
Cash from Receivables $11,843 $12,403 $16,813 $17,573 $28,493 $31,293 $34,160 $39,027 $45,880 $54,093 $56,547 $49,160
Subtotal Cash from Operations $37,043 $38,203 $59,413 $64,373 $79,493 $89,493 $102,560 $120,027 $131,080 $127,893 $128,547 $124,760
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 $100,000 $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 $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 $50,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $187,043 $38,203 $59,413 $64,373 $79,493 $89,493 $102,560 $120,027 $131,080 $127,893 $128,547 $124,760
Expenditures Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Expenditures from Operations
Cash Spending $21,800 $21,800 $21,800 $25,550 $31,800 $31,800 $31,800 $31,800 $31,800 $31,800 $31,800 $31,800
Bill Payments $22,010 $60,089 $54,951 $73,298 $71,029 $52,671 $65,902 $79,546 $94,189 $89,393 $64,439 $73,017
Subtotal Spent on Operations $43,810 $81,889 $76,751 $98,848 $102,829 $84,471 $97,702 $111,346 $125,989 $121,193 $96,239 $104,817
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 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $238 $238 $238 $238 $238 $238 $238 $238 $238 $238 $240 $240
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 $45,848 $83,927 $78,789 $100,886 $104,867 $86,509 $99,740 $113,384 $128,027 $123,231 $98,279 $106,857
Net Cash Flow $141,195 ($45,724) ($19,375) ($36,513) ($25,374) $2,984 $2,820 $6,642 $3,053 $4,663 $30,268 $17,903
Cash Balance $191,195 $145,471 $126,096 $89,583 $64,209 $67,193 $70,013 $76,656 $79,708 $84,371 $114,639 $132,541
Pro Forma Balance Sheet
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Assets Starting Balances
Current Assets
Cash $50,000 $191,195 $145,471 $126,096 $89,583 $64,209 $67,193 $70,013 $76,656 $79,708 $84,371 $114,639 $132,541
Accounts Receivable $23,686 $28,643 $33,440 $45,027 $58,653 $64,160 $71,667 $83,107 $98,080 $109,000 $104,107 $95,560 $96,800
Inventory $30,050 $23,210 $23,760 $39,160 $42,680 $45,650 $53,350 $63,250 $74,800 $78,100 $67,650 $67,100 $69,850
Other Current Assets $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000
Total Current Assets $153,736 $293,048 $252,671 $260,283 $240,916 $224,019 $242,210 $266,370 $299,536 $316,808 $306,128 $327,299 $349,191
Long-term Assets
Long-term Assets $80,000 $80,000 $80,000 $80,000 $80,000 $80,000 $80,000 $80,000 $80,000 $80,000 $80,000 $80,000 $80,000
Accumulated Depreciation $15,000 $15,800 $16,600 $17,400 $18,200 $19,000 $19,800 $20,600 $21,400 $22,200 $23,000 $23,800 $24,600
Total Long-term Assets $65,000 $64,200 $63,400 $62,600 $61,800 $61,000 $60,200 $59,400 $58,600 $57,800 $57,000 $56,200 $55,400
Total Assets $218,736 $357,248 $316,071 $322,883 $302,716 $285,019 $302,410 $325,770 $358,136 $374,608 $363,128 $383,499 $404,591
Liabilities and Capital Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Current Liabilities
Accounts Payable $20,000 $58,279 $52,506 $70,909 $69,288 $50,490 $63,267 $76,402 $91,181 $87,254 $62,013 $70,363 $76,973
Current Borrowing $0 $98,200 $96,400 $94,600 $92,800 $91,000 $89,200 $87,400 $85,600 $83,800 $82,000 $80,200 $78,400
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $20,000 $156,479 $148,906 $165,509 $162,088 $141,490 $152,467 $163,802 $176,781 $171,054 $144,013 $150,563 $155,373
Long-term Liabilities $20,000 $19,762 $19,524 $19,286 $19,048 $18,810 $18,572 $18,334 $18,096 $17,858 $17,620 $17,380 $17,140
Total Liabilities $40,000 $176,241 $168,430 $184,795 $181,136 $160,300 $171,039 $182,136 $194,877 $188,912 $161,633 $167,943 $172,513
Paid-in Capital $0 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000
Retained Earnings ($37,964) $178,736 $178,736 $178,736 $178,736 $178,736 $178,736 $178,736 $178,736 $178,736 $178,736 $178,736 $178,736
Earnings $216,700 ($47,728) ($81,094) ($90,649) ($107,156) ($104,017) ($97,365) ($85,102) ($65,477) ($43,040) ($27,241) ($13,180) $3,342
Total Capital $178,736 $181,008 $147,642 $138,087 $121,580 $124,719 $131,371 $143,634 $163,259 $185,696 $201,495 $215,556 $232,078
Total Liabilities and Capital $218,736 $357,248 $316,071 $322,883 $302,716 $285,019 $302,410 $325,770 $358,136 $374,608 $363,128 $383,499 $404,591
Net Worth $178,736 $181,008 $147,642 $138,087 $121,580 $124,719 $131,371 $143,634 $163,259 $185,696 $201,495 $215,556 $232,078