Accurate Chiropractic
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 | |||||||||||||
| Chiropractic Cases | 0% | $0 | $6,250 | $12,500 | $18,725 | $25,000 | $31,250 | $37,500 | $43,750 | $50,000 | $56,250 | $62,500 | $68,750 |
| Corporate Clients | 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 |
| Home Exercise Devices | 0% | $300 | $350 | $400 | $400 | $450 | $500 | $500 | $500 | $550 | $550 | $600 | $600 |
| Weight Loss System | 0% | $240 | $240 | $240 | $240 | $320 | $320 | $320 | $320 | $320 | $400 | $400 | $400 |
| Pillows | 0% | $180 | $210 | $240 | $240 | $270 | $270 | $300 | $330 | $330 | $360 | $360 | $390 |
| TENS Units | 0% | $360 | $360 | $360 | $360 | $360 | $480 | $480 | $480 | $600 | $600 | $600 | $600 |
| Total Sales | $2,580 | $8,910 | $15,240 | $21,465 | $27,900 | $34,320 | $40,600 | $46,880 | $53,300 | $59,660 | $65,960 | $72,240 | |
| 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 | |
| Chiropractic Cases | $0 | $63 | $125 | $187 | $250 | $313 | $375 | $438 | $500 | $563 | $625 | $688 | |
| Corporate Clients | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | |
| Home Exercise Devices | $138 | $161 | $184 | $184 | $207 | $230 | $230 | $230 | $253 | $253 | $276 | $276 | |
| Weight Loss System | $81 | $81 | $81 | $81 | $108 | $108 | $108 | $108 | $108 | $135 | $135 | $135 | |
| Pillows | $84 | $98 | $112 | $112 | $126 | $126 | $140 | $154 | $154 | $168 | $168 | $182 | |
| TENS Units | $87 | $87 | $87 | $87 | $87 | $116 | $116 | $116 | $145 | $145 | $145 | $145 | |
| Subtotal Direct Cost of Sales | $690 | $790 | $889 | $951 | $1,078 | $1,193 | $1,269 | $1,346 | $1,460 | $1,564 | $1,649 | $1,726 | |
| 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 | ||
| Angelo M. Rubano, Jr. D.C. | 0% | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $5,000 | $6,000 | $6,000 | $7,500 | $7,500 | $7,500 |
| Associate Dr. #1 | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Associate Dr. #2 | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Insurance Staff | 0% | $2,150 | $2,150 | $2,150 | $2,150 | $2,150 | $2,150 | $2,236 | $2,236 | $2,236 | $2,236 | $2,236 | $2,236 |
| Insurance Staff #2 | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Front Desk Staff | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2,150 | $2,150 | $2,150 |
| Front Desk Staff #2 | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Chiropractic Assistant #1 | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2,580 | $2,580 | $2,580 | $2,580 | $2,580 |
| Chiropractic Assistant #2 | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Chiropractic Assistant #3 | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total People | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 4 | |
| Total Payroll | $6,150 | $6,150 | $6,150 | $6,150 | $6,150 | $6,150 | $7,236 | $10,816 | $10,816 | $14,466 | $14,466 | $14,466 | |
| 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 | 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 | |||||||||||||
| 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 | $2,580 | $8,910 | $15,240 | $21,465 | $27,900 | $34,320 | $40,600 | $46,880 | $53,300 | $59,660 | $65,960 | $72,240 | |
| Direct Cost of Sales | $690 | $790 | $889 | $951 | $1,078 | $1,193 | $1,269 | $1,346 | $1,460 | $1,564 | $1,649 | $1,726 | |
| Other Costs of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $690 | $790 | $889 | $951 | $1,078 | $1,193 | $1,269 | $1,346 | $1,460 | $1,564 | $1,649 | $1,726 | |
| Gross Margin | $1,890 | $8,121 | $14,351 | $20,514 | $26,822 | $33,128 | $39,331 | $45,535 | $51,840 | $58,097 | $64,311 | $70,515 | |
| Gross Margin % | 73.26% | 91.14% | 94.17% | 95.57% | 96.14% | 96.53% | 96.87% | 97.13% | 97.26% | 97.38% | 97.50% | 97.61% | |
| Expenses | |||||||||||||
| Payroll | $6,150 | $6,150 | $6,150 | $6,150 | $6,150 | $6,150 | $7,236 | $10,816 | $10,816 | $14,466 | $14,466 | $14,466 | |
| Marketing/Promotion | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | |
| Depreciation | $0 | $386 | $386 | $386 | $386 | $386 | $386 | $386 | $386 | $386 | $386 | $386 | |
| Rent | $0 | $1,373 | $1,373 | $1,373 | $1,373 | $1,373 | $1,373 | $1,373 | $1,373 | $1,373 | $1,373 | $1,373 | |
| Utilities | $0 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
| Insurance | $0 | $0 | $0 | $0 | $0 | $0 | $154 | $154 | $154 | $154 | $154 | $154 | |
| Payroll Taxes | 15% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Office Supplies | $0 | $433 | $433 | $433 | $433 | $433 | $433 | $433 | $433 | $433 | $433 | $433 | |
| Legal Fees | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Accounting Fees | $0 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
| Computer Technical Support | $0 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | |
| XRay Film and Processor Maintenance | $0 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | |
| Professional Organization Membership | 15% | $0 | $70 | $70 | $70 | $70 | $70 | $70 | $70 | $70 | $70 | $70 | $70 |
| Employee Benefits Package | $0 | $585 | $585 | $585 | $585 | $585 | $585 | $585 | $585 | $585 | $585 | $585 | |
| Total Operating Expenses | $7,817 | $11,499 | $11,499 | $11,499 | $11,499 | $11,499 | $12,739 | $16,319 | $16,319 | $19,969 | $19,969 | $19,969 | |
| Profit Before Interest and Taxes | ($5,927) | ($3,378) | $2,852 | $9,015 | $15,323 | $21,629 | $26,592 | $29,216 | $35,521 | $38,128 | $44,342 | $50,546 | |
| EBITDA | ($5,927) | ($2,992) | $3,239 | $9,401 | $15,710 | $22,015 | $26,978 | $29,602 | $35,907 | $38,514 | $44,728 | $50,932 | |
| Interest Expense | $1,348 | $1,328 | $1,309 | $1,290 | $1,271 | $1,252 | $1,233 | $1,214 | $1,195 | $1,176 | $1,157 | $1,137 | |
| Taxes Incurred | ($2,182) | ($1,412) | $463 | $2,317 | $4,216 | $6,113 | $7,608 | $8,401 | $10,298 | $11,086 | $12,956 | $14,822 | |
| Net Profit | ($5,092) | ($3,295) | $1,080 | $5,407 | $9,837 | $14,264 | $17,752 | $19,601 | $24,029 | $25,866 | $30,230 | $34,586 | |
| Net Profit/Sales | -197.36% | -36.98% | 7.09% | 25.19% | 35.26% | 41.56% | 43.72% | 41.81% | 45.08% | 43.36% | 45.83% | 47.88% | |
| 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 | $645 | $2,228 | $3,810 | $5,366 | $6,975 | $8,580 | $10,150 | $11,720 | $13,325 | $14,915 | $16,490 | $18,060 | |
| Cash from Receivables | $0 | $65 | $2,093 | $6,841 | $11,586 | $16,260 | $21,086 | $25,897 | $30,607 | $35,321 | $40,134 | $44,903 | |
| Subtotal Cash from Operations | $645 | $2,292 | $5,903 | $12,207 | $18,561 | $24,840 | $31,236 | $37,617 | $43,932 | $50,236 | $56,624 | $62,963 | |
| 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 | $645 | $2,292 | $5,903 | $12,207 | $18,561 | $24,840 | $31,236 | $37,617 | $43,932 | $50,236 | $56,624 | $62,963 | |
| 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 | $6,150 | $6,150 | $6,150 | $6,150 | $6,150 | $6,150 | $7,236 | $10,816 | $10,816 | $14,466 | $14,466 | $14,466 | |
| Bill Payments | $51 | $1,660 | $5,734 | $7,687 | $9,588 | $11,594 | $13,577 | $15,255 | $16,143 | $18,098 | $19,006 | $20,942 | |
| Subtotal Spent on Operations | $6,201 | $7,810 | $11,884 | $13,837 | $15,738 | $17,744 | $20,813 | $26,071 | $26,959 | $32,564 | $33,472 | $35,408 | |
| 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 | $2,292 | $2,292 | $2,292 | $2,292 | $2,292 | $2,292 | $2,292 | $2,292 | $2,292 | $2,292 | $2,292 | $2,292 | |
| 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 | $8,493 | $10,102 | $14,176 | $16,129 | $18,030 | $20,036 | $23,105 | $28,363 | $29,251 | $34,856 | $35,764 | $37,700 | |
| Net Cash Flow | ($7,848) | ($7,810) | ($8,272) | ($3,922) | $530 | $4,804 | $8,131 | $9,254 | $14,681 | $15,379 | $20,860 | $25,263 | |
| Cash Balance | $61,152 | $53,342 | $45,070 | $41,148 | $41,678 | $46,482 | $54,613 | $63,867 | $78,548 | $93,927 | $114,787 | $140,050 | |
| 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 | $69,000 | $61,152 | $53,342 | $45,070 | $41,148 | $41,678 | $46,482 | $54,613 | $63,867 | $78,548 | $93,927 | $114,787 | $140,050 |
| Accounts Receivable | $0 | $1,935 | $8,553 | $17,890 | $27,148 | $36,487 | $45,968 | $55,332 | $64,595 | $73,963 | $83,388 | $92,724 | $102,001 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $69,000 | $63,087 | $61,895 | $62,960 | $68,296 | $78,165 | $92,450 | $109,945 | $128,462 | $152,511 | $177,315 | $207,511 | $242,051 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 | $104,000 |
| Accumulated Depreciation | $0 | $0 | $386 | $772 | $1,158 | $1,545 | $1,931 | $2,317 | $2,703 | $3,089 | $3,475 | $3,862 | $4,248 |
| Total Long-term Assets | $104,000 | $104,000 | $103,614 | $103,228 | $102,842 | $102,455 | $102,069 | $101,683 | $101,297 | $100,911 | $100,525 | $100,138 | $99,752 |
| Total Assets | $173,000 | $167,087 | $165,509 | $166,187 | $171,137 | $180,621 | $194,519 | $211,628 | $229,759 | $253,422 | $277,839 | $307,649 | $341,803 |
| 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 | $1,471 | $5,479 | $7,370 | $9,204 | $11,143 | $13,069 | $14,719 | $15,541 | $17,467 | $18,310 | $20,182 | $22,042 |
| 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 | $1,471 | $5,479 | $7,370 | $9,204 | $11,143 | $13,069 | $14,719 | $15,541 | $17,467 | $18,310 | $20,182 | $22,042 |
| Long-term Liabilities | $164,000 | $161,708 | $159,416 | $157,124 | $154,832 | $152,540 | $150,248 | $147,956 | $145,664 | $143,372 | $141,080 | $138,788 | $136,496 |
| Total Liabilities | $164,000 | $163,179 | $164,895 | $164,494 | $164,036 | $163,683 | $163,317 | $162,675 | $161,205 | $160,839 | $159,390 | $158,970 | $158,538 |
| Paid-in Capital | $43,575 | $43,575 | $43,575 | $43,575 | $43,575 | $43,575 | $43,575 | $43,575 | $43,575 | $43,575 | $43,575 | $43,575 | $43,575 |
| Retained Earnings | ($34,575) | ($34,575) | ($34,575) | ($34,575) | ($34,575) | ($34,575) | ($34,575) | ($34,575) | ($34,575) | ($34,575) | ($34,575) | ($34,575) | ($34,575) |
| Earnings | $0 | ($5,092) | ($8,387) | ($7,306) | ($1,899) | $7,938 | $22,201 | $39,953 | $59,554 | $83,583 | $109,449 | $139,679 | $174,265 |
| Total Capital | $9,000 | $3,908 | $613 | $1,694 | $7,101 | $16,938 | $31,201 | $48,953 | $68,554 | $92,583 | $118,449 | $148,679 | $183,265 |
| Total Liabilities and Capital | $173,000 | $167,087 | $165,509 | $166,187 | $171,137 | $180,621 | $194,519 | $211,628 | $229,759 | $253,422 | $277,839 | $307,649 | $341,803 |
| Net Worth | $9,000 | $3,908 | $613 | $1,694 | $7,101 | $16,938 | $31,201 | $48,953 | $68,554 | $92,583 | $118,449 | $148,679 | $183,265 |
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