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The Bronx Deli and Bakery

Executive Summary

The Bronx Deli and Bakery will offer customers New York City deli bakery items and sandwiches.  It is a restaurant, a bakery and a coffeehouse all rolled into one. Located in the heart of the growing Willow Creek section of Richmond, the Bronx Deli and Bakery will serve a community of 25,000 residents that is made up of students attending State University and families attracted to the new home construction in the area.

The Bronx Deli and Bakery will have the advantage of the foot traffic in the Willow Creek retail area which is the home of the Willow Creek Arts and Craft Fair, as well as the home of numerous art and craft shops.

Delicatessen and bakery business plan, executive summary chart image

1.1 Mission

The Bronx Deli and Bakery is committed to providing a slice of New York in the Willow Creek section of Richmond.  We will offer our customers the best sandwiches and bakery items at affordable prices.

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Company Summary

The Bronx Deli and Bakery is located in the heart of the Willow Creek section of Richmond.  The owner, Barry Cohn, is opening the Bronx Deli and Bakery in response to the limited number of eating places located in the Willow Creek area.  The bakery will offer New York City deli bakery items and sandwiches.  We will focus on bringing in the customer who visits the arts and crafts stores and is looking for a warm and comfortable place to relax and enjoy excellent food.

2.1 Company Ownership

The Bronx Deli and Bakery is owned by Barry Cohn.

2.2 Start-up Summary

The start-up cost of the Bronx Deli and Bakery will consist primarily of kitchen equipment and dining set-up. Barry Cohn will invest $80,000. He will also secure a $50,000 SBA loan.

Delicatessen and bakery business plan, company summary chart image

Start-up
Requirements
Start-up Expenses
Legal $1,000
Insurance $1,000
Rent $1,800
Dining Set-Up $8,000
Total Start-up Expenses $11,800
Start-up Assets
Cash Required $63,200
Start-up Inventory $5,000
Other Current Assets $0
Long-term Assets $50,000
Total Assets $118,200
Total Requirements $130,000
Start-up Funding
Start-up Expenses to Fund $11,800
Start-up Assets to Fund $118,200
Total Funding Required $130,000
Assets
Non-cash Assets from Start-up $55,000
Cash Requirements from Start-up $63,200
Additional Cash Raised $0
Cash Balance on Starting Date $63,200
Total Assets $118,200
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $50,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $50,000
Capital
Planned Investment
Barry Cohn $80,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $80,000
Loss at Start-up (Start-up Expenses) ($11,800)
Total Capital $68,200
Total Capital and Liabilities $118,200
Total Funding $130,000

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Products

The Bronx Deli and Bakery will offer customers New York City deli bakery items and sandwiches. The menu will include:

  • Pastry/desserts;
  • Sandwiches;
  • Soups;
  • Quiches;
  • Espresso;
  • Drinks.
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Market Analysis Summary

In the past ten years, the Willow Creek section of Richmond has grown tremendously. The growing student community combined with the customers of the area’s arts and craft stores are a perfect support base for the Bronx Bakery.

Currently, the area is served by three small restaurants and two coffee shops. None of these restaurants or shops carry the menu items found at the Bronx Bakery. In addition, the bakery is located on Steward Street which is the area’s main street. The foot traffic on Steward Street is very heavy with arts and crafts shoppers and State University students.

4.1 Market Segmentation

The Bronx Deli and Bakery will focus on two significant customer groups:

  • Arts and Craft Shoppers:  The community is home to a number of artists and craft people that operate the Willow Creek Craft Fair.  This creates a festive environment in the Willow Creek central commercial/retail area that attract shoppers each weekend. The Bronx Deli and Bakery is adjacent to the Craft Fair which is one block south of Steward Street.  The traffic from the fair to the Steward Street shops goes right past the Bronx Bakery.
  • Students: The Bronx Deli and Bakery will be a half block from campus.  A significant number of students spend money on food and drink in the Willow Creek area. Last year, it was estimated that students spent $20 million dollars on products, services and entertainment in the Willow Creek area. The bakery’s location will be a convenient place to grab a bite or a sweet on the way to or from classes.
Delicatessen and bakery business plan, market analysis summary chart image

Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Arts and Craft Shoppers 15% 9,000 10,350 11,903 13,688 15,741 15.00%
Students 10% 12,000 13,200 14,520 15,972 17,569 10.00%
Total 12.22% 21,000 23,550 26,423 29,660 33,310 12.22%

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Strategy and Implementation Summary

The Bronx Deli and Bakery will promote the store opening.  We will have live music and food in front of the bakery opening weekend.  The Willow Creek Craft Fair will provide excellent foot traffic for our opening.

We will advertise in the university daily student newspaper as well as the local area advertising flyer.  In the advertisements for the market opening, we will have 2 for 1 specials on pastry and sandwiches.  We will continue this discount for the first month of operation.

5.1 Competitive Edge

The Bronx Bakery’s competitive edge is:

  • Location:  The Bronx Deli and Bakery is located in the heart of the Willow Creek section of Richmond. The foot traffic in the Willow Creek retail area is very strong. The weekend arts and craft fair will provide excellent foot traffic. In addition, Stewart Street is a major walk way for students going to and from classes at State University.
  • New York Focus of Menu: The menu for the Bronx Deli and Bakery is a perfect addition to the arts and craft focus of the businesses in the area.  We offer the customer a chance to step out of Richmond and into a New York City deli, complete with the sights and sounds.  Lunch becomes an event and even the purchasing of a bakery item, to go, leaves the customers smiling.

5.2 Sales Strategy

The sales strategy of the Bronx Deli and Bakery is simple. The key to customer satisfaction is providing an exceptional product at affordable prices in an environment that is as entertaining as the food.

5.2.1 Sales Forecast

Cost control is a critical focus of our sales forecast.  We will adhere to the following gross margin % for menu items:

  • Coffee drinks: 14%
  • Lunch items: 30%
  • Bakery goods: 26%

The following is the Bronx Deli and Bakery’s sales forecast for three years.

Delicatessen and bakery business plan, strategy and implementation summary chart image

Delicatessen and bakery business plan, strategy and implementation summary chart image

Sales Forecast
Year 1 Year 2 Year 3
Sales
Bakery $127,000 $145,000 $165,000
Sandwiches $247,000 $272,000 $302,000
Drinks $48,500 $52,000 $55,000
Total Sales $422,500 $469,000 $522,000
Direct Cost of Sales Year 1 Year 2 Year 3
Bakery $32,400 $38,000 $42,000
Sandwiches $82,900 $86,000 $96,000
Drinks $6,060 $6,400 $7,000
Subtotal Direct Cost of Sales $121,360 $130,400 $145,000

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Management Summary

Barry will manage the daily operation of the Bronx Deli and Bakery. He has ten years of experience working in the restaurant industry.  Before relocating to Richmond, Barry was manager of two deli/bakeries in New York City.  Barry was the Bakery Manager for Zoey’s Deli and Bakery for six years, managing a staff of five. During that time, the business grew by 15% each year.

In 1996, Barry became the Manager of Sherman’s Deli and Bakery where he managed a staff of ten.  For the four years Barry was the manager he was able to cut production cost by 16%.

6.1 Personnel Plan

Besides Barry Cohn, the Bronx Deli and Bakery will have a staff of seven:

  • Kitchen staff (3);
  • Baker (2);
  • Waiters/waitresses (2).
Personnel Plan
Year 1 Year 2 Year 3
Barry Cohn $33,600 $36,000 $39,000
Kitchen Staff $84,000 $89,000 $94,000
Waiters/Waitresses $39,600 $41,000 $43,000
Baking Staff $48,000 $51,000 $54,000
Total People 9 9 9
Total Payroll $205,200 $217,000 $230,000

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Financial Plan

The following is the Financial plan for the Bronx Deli and Bakery.

7.1 Break-even Analysis

The following table and chart shows our Break-even Analysis.

Delicatessen and bakery business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $32,365
Assumptions:
Average Percent Variable Cost 29%
Estimated Monthly Fixed Cost $23,068

7.2 Projected Profit and Loss

The following table and charts highlight the projected profit and loss for three years.

Delicatessen and bakery business plan, financial plan chart image

Delicatessen and bakery business plan, financial plan chart image

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $422,500 $469,000 $522,000
Direct Cost of Sales $121,360 $130,400 $145,000
Other Production Expenses $0 $0 $0
Total Cost of Sales $121,360 $130,400 $145,000
Gross Margin $301,140 $338,600 $377,000
Gross Margin % 71.28% 72.20% 72.22%
Expenses
Payroll $205,200 $217,000 $230,000
Sales and Marketing and Other Expenses $7,000 $10,000 $13,000
Depreciation $1,440 $1,440 $1,440
Leased Equipment $0 $0 $0
Utilities $4,800 $4,800 $4,800
Insurance $6,000 $6,000 $6,000
Rent $21,600 $21,600 $21,600
Payroll Taxes $30,780 $32,550 $34,500
Other $0 $0 $0
Total Operating Expenses $276,820 $293,390 $311,340
Profit Before Interest and Taxes $24,320 $45,210 $65,660
EBITDA $25,760 $46,650 $67,100
Interest Expense $4,459 $3,501 $2,501
Taxes Incurred $5,958 $12,513 $18,948
Net Profit $13,903 $29,197 $44,211
Net Profit/Sales 3.29% 6.23% 8.47%

7.3 Projected Cash Flow

The following table and chart highlight the projected cash flow for three years.

Delicatessen and bakery business plan, financial plan chart image

Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $422,500 $469,000 $522,000
Subtotal Cash from Operations $422,500 $469,000 $522,000
Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
Subtotal Cash Received $422,500 $469,000 $522,000
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $205,200 $217,000 $230,000
Bill Payments $189,370 $226,386 $246,000
Subtotal Spent on Operations $394,570 $443,386 $476,000
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal Repayment $9,996 $9,996 $9,996
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $404,566 $453,382 $485,996
Net Cash Flow $17,934 $15,618 $36,004
Cash Balance $81,134 $96,752 $132,756

7.4 Projected Balance Sheet

The following table highlights the projected balance sheet for three years.

Pro Forma Balance Sheet
Year 1 Year 2 Year 3
Assets
Current Assets
Cash $81,134 $96,752 $132,756
Inventory $14,630 $15,720 $17,480
Other Current Assets $0 $0 $0
Total Current Assets $95,764 $112,471 $150,235
Long-term Assets
Long-term Assets $50,000 $50,000 $50,000
Accumulated Depreciation $1,440 $2,880 $4,320
Total Long-term Assets $48,560 $47,120 $45,680
Total Assets $144,324 $159,591 $195,915
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $22,217 $18,284 $20,392
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $22,217 $18,284 $20,392
Long-term Liabilities $40,004 $30,008 $20,012
Total Liabilities $62,221 $48,292 $40,404
Paid-in Capital $80,000 $80,000 $80,000
Retained Earnings ($11,800) $2,103 $31,300
Earnings $13,903 $29,197 $44,211
Total Capital $82,103 $111,300 $155,511
Total Liabilities and Capital $144,324 $159,591 $195,915
Net Worth $82,103 $111,300 $155,511

7.5 Business Ratios

Business ratios for the years of this plan are shown below.  Industry profile ratios based on the Standard Industrial Classification (SIC) code 5812, Eating Places, are shown for comparison.

Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth 0.00% 11.01% 11.30% 7.60%
Percent of Total Assets
Inventory 10.14% 9.85% 8.92% 3.60%
Other Current Assets 0.00% 0.00% 0.00% 35.60%
Total Current Assets 66.35% 70.47% 76.68% 43.70%
Long-term Assets 33.65% 29.53% 23.32% 56.30%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 15.39% 11.46% 10.41% 32.70%
Long-term Liabilities 27.72% 18.80% 10.21% 28.50%
Total Liabilities 43.11% 30.26% 20.62% 61.20%
Net Worth 56.89% 69.74% 79.38% 38.80%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 71.28% 72.20% 72.22% 60.50%
Selling, General & Administrative Expenses 67.99% 65.97% 63.75% 39.80%
Advertising Expenses 1.66% 2.13% 2.49% 3.20%
Profit Before Interest and Taxes 5.76% 9.64% 12.58% 0.70%
Main Ratios
Current 4.31 6.15 7.37 0.98
Quick 3.65 5.29 6.51 0.65
Total Debt to Total Assets 43.11% 30.26% 20.62% 61.20%
Pre-tax Return on Net Worth 24.19% 37.47% 40.61% 1.70%
Pre-tax Return on Assets 13.76% 26.14% 32.24% 4.30%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 3.29% 6.23% 8.47% n.a
Return on Equity 16.93% 26.23% 28.43% n.a
Activity Ratios
Inventory Turnover 10.91 8.59 8.74 n.a
Accounts Payable Turnover 9.52 12.17 12.17 n.a
Payment Days 27 33 28 n.a
Total Asset Turnover 2.93 2.94 2.66 n.a
Debt Ratios
Debt to Net Worth 0.76 0.43 0.26 n.a
Current Liab. to Liab. 0.36 0.38 0.50 n.a
Liquidity Ratios
Net Working Capital $73,547 $94,188 $129,843 n.a
Interest Coverage 5.45 12.91 26.25 n.a
Additional Ratios
Assets to Sales 0.34 0.34 0.38 n.a
Current Debt/Total Assets 15% 11% 10% n.a
Acid Test 3.65 5.29 6.51 n.a
Sales/Net Worth 5.15 4.21 3.36 n.a
Dividend Payout 0.00 0.00 0.00 n.a

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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
Bakery 0% $8,000 $9,000 $9,000 $11,000 $11,000 $11,000 $10,000 $9,000 $10,000 $12,000 $13,000 $14,000
Sandwiches 0% $15,000 $16,000 $17,000 $19,000 $20,000 $22,000 $20,000 $19,000 $22,000 $24,000 $26,000 $27,000
Drinks 0% $3,000 $3,500 $4,000 $4,000 $5,000 $5,000 $4,000 $3,000 $3,000 $4,000 $5,000 $5,000
Total Sales $26,000 $28,500 $30,000 $34,000 $36,000 $38,000 $34,000 $31,000 $35,000 $40,000 $44,000 $46,000
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
Bakery $2,000 $2,200 $2,200 $2,800 $2,800 $2,800 $2,500 $2,400 $2,500 $3,000 $3,500 $3,700
Sandwiches $5,000 $5,400 $5,600 $6,500 $6,800 $7,400 $6,800 $6,500 $7,400 $8,000 $8,500 $9,000
Drinks $400 $460 $500 $500 $600 $600 $500 $400 $400 $500 $600 $600
Subtotal Direct Cost of Sales $7,400 $8,060 $8,300 $9,800 $10,200 $10,800 $9,800 $9,300 $10,300 $11,500 $12,600 $13,300
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
Barry Cohn 0% $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800
Kitchen Staff 0% $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000
Waiters/Waitresses 0% $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300 $3,300
Baking Staff 0% $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Total People 9 9 9 9 9 9 9 9 9 9 9 9
Total Payroll $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100

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 $26,000 $28,500 $30,000 $34,000 $36,000 $38,000 $34,000 $31,000 $35,000 $40,000 $44,000 $46,000
Direct Cost of Sales $7,400 $8,060 $8,300 $9,800 $10,200 $10,800 $9,800 $9,300 $10,300 $11,500 $12,600 $13,300
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $7,400 $8,060 $8,300 $9,800 $10,200 $10,800 $9,800 $9,300 $10,300 $11,500 $12,600 $13,300
Gross Margin $18,600 $20,440 $21,700 $24,200 $25,800 $27,200 $24,200 $21,700 $24,700 $28,500 $31,400 $32,700
Gross Margin % 71.54% 71.72% 72.33% 71.18% 71.67% 71.58% 71.18% 70.00% 70.57% 71.25% 71.36% 71.09%
Expenses
Payroll $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100
Sales and Marketing and Other Expenses $1,000 $1,000 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Depreciation $120 $120 $120 $120 $120 $120 $120 $120 $120 $120 $120 $120
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400
Insurance $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Rent $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Payroll Taxes 15% $2,565 $2,565 $2,565 $2,565 $2,565 $2,565 $2,565 $2,565 $2,565 $2,565 $2,565 $2,565
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $23,485 $23,485 $22,985 $22,985 $22,985 $22,985 $22,985 $22,985 $22,985 $22,985 $22,985 $22,985
Profit Before Interest and Taxes ($4,885) ($3,045) ($1,285) $1,215 $2,815 $4,215 $1,215 ($1,285) $1,715 $5,515 $8,415 $9,715
EBITDA ($4,765) ($2,925) ($1,165) $1,335 $2,935 $4,335 $1,335 ($1,165) $1,835 $5,635 $8,535 $9,835
Interest Expense $410 $403 $396 $389 $382 $375 $368 $361 $354 $347 $340 $333
Taxes Incurred ($1,588) ($1,034) ($504) $248 $730 $1,152 $254 ($494) $408 $1,550 $2,422 $2,814
Net Profit ($3,706) ($2,413) ($1,177) $578 $1,703 $2,688 $593 ($1,152) $953 $3,617 $5,652 $6,567
Net Profit/Sales -14.26% -8.47% -3.92% 1.70% 4.73% 7.07% 1.74% -3.72% 2.72% 9.04% 12.85% 14.28%

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 $26,000 $28,500 $30,000 $34,000 $36,000 $38,000 $34,000 $31,000 $35,000 $40,000 $44,000 $46,000
Subtotal Cash from Operations $26,000 $28,500 $30,000 $34,000 $36,000 $38,000 $34,000 $31,000 $35,000 $40,000 $44,000 $46,000
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 $26,000 $28,500 $30,000 $34,000 $36,000 $38,000 $34,000 $31,000 $35,000 $40,000 $44,000 $46,000
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 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100 $17,100
Bill Payments $521 $15,586 $14,413 $14,342 $17,841 $17,558 $18,630 $15,064 $14,500 $18,013 $20,544 $22,359
Subtotal Spent on Operations $17,621 $32,686 $31,513 $31,442 $34,941 $34,658 $35,730 $32,164 $31,600 $35,113 $37,644 $39,459
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 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833
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 $18,454 $33,519 $32,346 $32,275 $35,774 $35,491 $36,563 $32,997 $32,433 $35,946 $38,477 $40,292
Net Cash Flow $7,546 ($5,019) ($2,346) $1,725 $226 $2,509 ($2,563) ($1,997) $2,567 $4,054 $5,523 $5,708
Cash Balance $70,746 $65,727 $63,381 $65,107 $65,333 $67,842 $65,279 $63,282 $65,849 $69,903 $75,426 $81,134
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 $63,200 $70,746 $65,727 $63,381 $65,107 $65,333 $67,842 $65,279 $63,282 $65,849 $69,903 $75,426 $81,134
Inventory $5,000 $8,140 $8,866 $9,130 $10,780 $11,220 $11,880 $10,780 $10,230 $11,330 $12,650 $13,860 $14,630
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $68,200 $78,886 $74,593 $72,511 $75,887 $76,553 $79,722 $76,059 $73,512 $77,179 $82,553 $89,286 $95,764
Long-term Assets
Long-term 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
Accumulated Depreciation $0 $120 $240 $360 $480 $600 $720 $840 $960 $1,080 $1,200 $1,320 $1,440
Total Long-term Assets $50,000 $49,880 $49,760 $49,640 $49,520 $49,400 $49,280 $49,160 $49,040 $48,920 $48,800 $48,680 $48,560
Total Assets $118,200 $128,766 $124,353 $122,151 $125,407 $125,953 $129,002 $125,219 $122,552 $126,099 $131,353 $137,966 $144,324
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 $15,105 $13,939 $13,747 $17,257 $16,933 $18,127 $14,584 $13,903 $17,330 $19,800 $21,593 $22,217
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 $15,105 $13,939 $13,747 $17,257 $16,933 $18,127 $14,584 $13,903 $17,330 $19,800 $21,593 $22,217
Long-term Liabilities $50,000 $49,167 $48,334 $47,501 $46,668 $45,835 $45,002 $44,169 $43,336 $42,503 $41,670 $40,837 $40,004
Total Liabilities $50,000 $64,272 $62,273 $61,248 $63,925 $62,768 $63,129 $58,753 $57,239 $59,833 $61,470 $62,430 $62,221
Paid-in Capital $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
Retained Earnings ($11,800) ($11,800) ($11,800) ($11,800) ($11,800) ($11,800) ($11,800) ($11,800) ($11,800) ($11,800) ($11,800) ($11,800) ($11,800)
Earnings $0 ($3,706) ($6,120) ($7,296) ($6,718) ($5,015) ($2,327) ($1,734) ($2,886) ($1,934) $1,684 $7,336 $13,903
Total Capital $68,200 $64,494 $62,080 $60,904 $61,482 $63,185 $65,873 $66,466 $65,314 $66,266 $69,884 $75,536 $82,103
Total Liabilities and Capital $118,200 $128,766 $124,353 $122,151 $125,407 $125,953 $129,002 $125,219 $122,552 $126,099 $131,353 $137,966 $144,324
Net Worth $68,200 $64,494 $62,080 $60,904 $61,482 $63,185 $65,873 $66,466 $65,314 $66,266 $69,884 $75,536 $82,103

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