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Auto Repair Service Business Plan

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Quick and Dirty Auto Repair

Financial Plan

Forecast

Key Assumptions

Our key assumptions are: 

  • People need cars to get to their jobs on time and make money. 
  • Cars break down 
  • Not everyone has the ability to pay for new parts and expensive service. 

Revenue by Month

Chart visualizing the data for Revenue by Month

Expenses by Month

Chart visualizing the data for Expenses by Month

Net Profit (or Loss) by Year

Chart visualizing the data for Net Profit (or Loss) by Year

Financing

Use of Funds

We will be buying $350K long term assets mainly shop equipment. The rest of the money will be spent on legal fees. 

Sources of Funds

Each of the founders will contribute a fourth of the initial investment of $250K. We are also taking on a long-term loan and some credit card debt.

Statements

Projected Profit & Loss

2018 2019 2020
Gross Margin $2,866,536 $2,970,000 $3,234,600
Operating Expenses
Salaries & Wages $676,800 $742,968 $858,955
Employee Related Expenses $135,360 $148,594 $171,791
Sales $16,800 $16,800 $16,800
Marketing $16,200 $16,200 $16,200
Rent $30,000 $30,000 $30,000
Amortization of Other Current Assets $0 $0 $0
Interest Incurred $14,080 $9,793 $7,822
Depreciation and Amortization $16,667 $16,666 $16,667
Gain or Loss from Sale of Assets
Income Taxes $0 $0 $0
Total Expenses $3,347,771 $3,511,021 $3,873,635
Net Profit $1,960,629 $1,988,979 $2,116,365

Projected Balance Sheet

Starting Balances 2018 2019 2020
Cash $100,000 $1,985,651 $3,952,778 $6,045,320
Accounts Receivable $0 $0 $0
Inventory $50,000 $50,000 $50,000 $50,000
Other Current Assets $50,000 $50,000 $50,000 $50,000
Total Current Assets $200,000 $2,085,651 $4,052,778 $6,145,320
Long-Term Assets $350,000 $350,000 $350,000 $350,000
Accumulated Depreciation ($16,667) ($33,333) ($50,000)
Total Long-Term Assets $350,000 $333,333 $316,667 $300,000
Accounts Payable $0 $0 $0
Income Taxes Payable $0 $0 $0
Sales Taxes Payable $0 $0 $0
Short-Term Debt $91,644 $38,519 $40,490 $42,561
Prepaid Revenue
Total Current Liabilities $91,644 $38,519 $40,490 $42,561
Long-Term Debt $213,356 $174,837 $134,347 $91,786
Long-Term Liabilities $213,356 $174,837 $134,347 $91,786
Paid-In Capital $250,000 $250,000 $250,000 $250,000
Retained Earnings ($5,000) ($5,000) $1,955,629 $3,944,608
Earnings $1,960,629 $1,988,979 $2,116,365

Projected Cash Flow Statement

2018 2019 2020
Net Cash Flow from Operations
Net Profit $1,960,629 $1,988,979 $2,116,365
Depreciation & Amortization $16,667 $16,667 $16,667
Change in Accounts Receivable $0 $0 $0
Change in Inventory $0 $0 $0
Change in Accounts Payable $0 $0 $0
Change in Income Tax Payable $0 $0 $0
Change in Sales Tax Payable $0 $0 $0
Change in Prepaid Revenue
Investing & Financing
Assets Purchased or Sold
Investments Received
Dividends & Distributions
Change in Short-Term Debt ($53,125) $1,971 $2,072
Change in Long-Term Debt ($38,519) ($40,490) ($42,561)
Cash at Beginning of Period $100,000 $1,985,651 $3,952,778
Net Change in Cash $1,885,651 $1,967,126 $2,092,542

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