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Rutabaga Sweets

Financial Plan

Forecast

Key Assumptions

Our key underlying assumptions for this plan: 

  • We assume a slow-growth economy, without major recession. This means our customers will be able to purchase our gourmet desserts and enjoy our services. 
  • We assume that people will always want sinful desserts. We will keep up with the times, gluten free, egg free, do our research to make sure to give our clients yummy desserts that fit the trend. 
  • We assume we will find people who appreciate our business and our services and want to invest to keep us in business because we give back to our community and are a great place to be and to learn 

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

Our start-up funds will be used for: kitchen equipment, store furnishings and construction, and starting inventory expenses associated with opening our first store. 

Sources of Funds

We will ourselves and close friends and family invest $300K to start this business. 

Statements

Projected Profit & Loss

2020 2021 2022
Gross Margin $268,590 $341,450 $393,800
Operating Expenses
Salaries & Wages $126,400 $147,144 $157,790
Employee Related Expenses $25,280 $29,429 $31,558
Rent $60,000 $60,000 $60,000
Utilities $7,200 $7,200 $7,200
Insurance $3,600 $3,600 $3,600
Marketing $7,200 $7,200 $7,200
Legal $1,000
Office Supplies $2,000
Sommelier Consulting $500
Menus $1,000
Insurance $500
Design and Construction $30,000
Research and Development $1,000
Dishes, Silverware, Glassware $6,000
Interest Incurred
Depreciation and Amortization $43,095 $43,095 $43,096
Gain or Loss from Sale of Assets
Income Taxes $0 $0 $5,667
Total Expenses $496,035 $528,218 $582,311
Net Profit ($46,185) $43,782 $77,689

Projected Balance Sheet

2020 2021 2022
Cash $58,527 $144,663 $267,479
Accounts Receivable $6,575 $7,722 $8,910
Inventory $19,213 $22,184 $22,184
Other Current Assets
Total Current Assets $84,314 $174,569 $298,573
Long-Term Assets $135,000 $135,000 $135,000
Accumulated Depreciation ($43,095) ($86,190) ($129,286)
Total Long-Term Assets $91,905 $48,810 $5,714
Accounts Payable $12,856 $14,342 $14,342
Income Taxes Payable $0 $0 $1,459
Sales Taxes Payable $9,548 $11,440 $13,200
Short-Term Debt
Prepaid Revenue
Total Current Liabilities $22,404 $25,782 $29,001
Long-Term Debt
Long-Term Liabilities
Paid-In Capital $200,000 $200,000 $200,000
Retained Earnings ($46,185) ($2,403)
Earnings ($46,185) $43,782 $77,690

Projected Cash Flow Statement

2020 2021 2022
Net Cash Flow from Operations
Net Profit ($46,185) $43,782 $77,689
Depreciation & Amortization $43,095 $43,095 $43,095
Change in Accounts Receivable ($6,575) ($1,148) ($1,188)
Change in Inventory ($19,213) ($2,971) $0
Change in Accounts Payable $12,856 $1,486 $0
Change in Income Tax Payable $0 $0 $1,459
Change in Sales Tax Payable $9,548 $1,892 $1,760
Change in Prepaid Revenue
Investing & Financing
Assets Purchased or Sold ($135,000)
Investments Received $200,000
Dividends & Distributions
Change in Short-Term Debt
Change in Long-Term Debt
Cash at Beginning of Period $0 $58,527 $144,663
Net Change in Cash $58,527 $86,136 $122,816