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Aztec Food Imports

Executive Summary

Aztec Food Imports (Aztec) will offer food product imports from Mexico to meet increased demand for these product by the city’s growing Hispanic/Latino community in the greater Richmond area. Over the last five years, this community has grown by 70%,  and represents half of the Richmond Metro population (250,000).  Aztec has been successful over the competition in supplying imported mexican food products to the area’s two PriceRight supermarkets.  From this base, Aztec will build a successful business serving the area’s large and small markets.

Ethnic food import business plan, executive summary chart image

1.1 Objectives

  • Establish Aztec Food Imports as the number one importer of mexican food products in Richmond.
  • Increase the number of mexican food products being carried in local markets by 20% over the next two years.
  • Build solid working relationships with the purchasing agents of the local stores serving Richmond’s growing Hispanic/Latino population.

1.2 Mission

Aztec’s mission is to supply Mexican food imports to Richmond stores which are currently being poorly served by importers located over 150 miles away. Raymond Garcia, co-owner of Aztec, will utilize his importing background, his experience in the food retail market, as well as his contacts in Mexico to bring in products that area customers demand.

1.3 Keys to Success

The keys to success in Aztec’s business are:

  1. Offering items of a high quality-value relationship which are not available everywhere. This is essential for maintaining the niche market sectors mentioned in the mission statement.
  2. Reliable and timely deliveries. Aztec must make good on its delivery promises. Because of the nature of doing business in Mexico, this requires long-range planning in scheduling orders, taking into account Mexican business practices.
  3. A reliable administration that is ready to serve customers, prepare accurate billing, follow-up on orders and other documentation, and maintain a close watch on expenses and collection of accounts receivable.
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Company Summary

Aztec Food Imports will import Mexican food products to the local markets of the Richmond Metro area. 

2.1 Company Ownership

Aztec’s ownership is shared equally between Raymond Garcia and Jose Arroyo. Raymond has eight years of importing experience. Jose Arroya has 10 years experience in managing imports from Mexico and shipping to the U.S. market. Raymond Garcia is responsible for the daily management, sales, and store deliveries. Jose Arroya is responsible for the quality control and shipping of the goods from Mexico to the U.S.

2.2 Start-up Summary

The start-up cost of Aztec Food Imports will consist primarily of inventory. Raymond Garcia and Jose Arroya will each invest $50,000.  They will also secure a $100,000 SBA loan.

Ethnic food import business plan, company summary chart image

Start-up Funding
Start-up Expenses to Fund $15,300
Start-up Assets to Fund $184,700
Total Funding Required $200,000
Assets
Non-cash Assets from Start-up $80,000
Cash Requirements from Start-up $104,700
Additional Cash Raised $0
Cash Balance on Starting Date $104,700
Total Assets $184,700
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $100,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $100,000
Capital
Planned Investment
Raymond Garcia $50,000
IJose Arroya $50,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $100,000
Loss at Start-up (Start-up Expenses) ($15,300)
Total Capital $84,700
Total Capital and Liabilities $184,700
Total Funding $200,000
Start-up
Requirements
Start-up Expenses
Legal $5,000
Stationery etc. $800
Brochures $2,000
Consultants $0
Insurance $0
Rent $3,000
Expensed Equipment $4,000
Utilities $500
Other $0
Total Start-up Expenses $15,300
Start-up Assets
Cash Required $104,700
Start-up Inventory $60,000
Other Current Assets $0
Long-term Assets $20,000
Total Assets $184,700
Total Requirements $200,000

2.3 Company Locations and Facilities

Aztec Food Imports will have warehouse space located in the Fillmore industrial district.

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Products

Aztec’s product line is rather extensive amounting to over 200 items:

  • Beverages.
  • Canned foods.
  • Chile peppers.
  • Desserts.
  • Packaged foods.
  • Salsas.
  • Snacks.
  • Spices and herbs.

Aztec also carries the popular brands:

  • Ducal.
  • Herdez.
  • Juanita’s.
  • La Costeña.
  • La Joya.
  • La Lechonera.
  • La Sierra.
  • Pico Pica.
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Market Analysis Summary

The Hispanic/Latino population in the Richmond Metro area has grown by 10% over the past five years. The current population stands at over 100,000.  It is projected that the population will continue its growth pattern for the next five years and will eventually reach over 160,000.  A majority of these inner-city residents live in family groups of six or more members.  The average household income for the area is $32,000.

There are four major supermarkets that operate in the area and over 50 smaller food stores that serve the metro communities. Last year, the four major supermarkets grossed over $150,000,000 in sales. There are plans to build additional supermarkets in the Richmond Metro area in 2003 and 2004. Two of the current supermarkets in the Richmond Metro area are part the local PriceRight chain.  PriceRight is planning a new store in the area in 2004. 

Though it is difficult to know the exact sales figures for the small markets in the area, traditionally, the community residents have been supportive of the smaller store if their prices are competitive. Last year, Wilson Foods Imports grossed $1.5 million in sales with smaller markets in the Richmond Metro area.

4.1 Market Segmentation

Aztec Food Imports will serve all retail food outlets in the Richmond Metro area. These include neighborhood markets and supermarkets.

Ethnic food import business plan, market analysis summary chart image

Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Supermarkets 20% 4 5 6 7 8 18.92%
Neighborhood Markets 20% 50 60 72 86 103 19.80%
Other 0% 0 0 0 0 0 0.00%
Total 19.74% 54 65 78 93 111 19.74%

4.2 Target Market Segment Strategy

Aztec Food Imports will have two distinct marketing approaches:

  • For Neighborhood Markets: Raymond will promote a small group of popular mexican food products that are likely to move fast in smaller stores.  These products will be priced to be attractive to the small store owner.  Once successful, Raymond will expand the product group. 
  • For Supermarkets: Raymond will promote the complete line of products that Aztec can provide.  Aztec prices will reflect a stronger import connection in Mexico that will results in lower prices and more product.

4.3 Main Competitors

Currently, Acme Food Importers located in Wilsonville supplies the Richmond area food stores with imported mexican food products. Wilsonville is 150 miles north of Richmond.  Only in the past two years has the demand for these products grown sufficiently to impact Acme’s ability to satisfy demand. Besides the distance, Acme is plagued with weak import connections in Mexico.  These factors contribute to the high wholesale price of Acme’s imported products.

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Strategy and Implementation Summary

Aztec Food Imports will focus on becoming the leading provider of wholesale imported mexican food product in the Richmond Metro area.

5.1 Competitive Edge

Raymond Garcia and Jose Arroyo are the competitive edge of Aztec Food Imports. Raymond has worked for both Acme Food Imports and Wilson Food Imports over the past eight years.  In his last position with Wilson, Raymond imported mexican food products to numerous markets in the southwest. He generated sales in excess of $2 million annually. His strength is his customer relations and he has been successful in expanding the range of imported mexican food purchased by the markets in his sales region.

Jose has been a shipping agent for M. Zegarra Exporting located in Mexico City for the past ten years. The company exported $20 million of products to the U.S last year.  Jose’s responsibility was to eliminate the shipping obstacles and oversee the timely delivery of product to the U.S.

5.2 Sales Strategy

Aztec Food Imports will have two distinct sales approaches:

  • For Neighborhood Markets: Raymond will promote a small group of popular mexican food products that are likely to move fast in smaller stores.  These items will be packaged as a group at an attractive price.  Raymond will make frequent visits to these stores to build a strong working relationship that will lead to more purchases.
  • For Supermarkets: Raymond will promote the complete line of products that Aztec can provide.  Aztec prices will reflect a stronger import connection in Mexico that will results in lower prices and more product. Raymond will promote new seasonal products and provide assistance on marketing the products to the Hispanic/Latino community.

5.2.1 Sales Forecast

The following is the sales forecast for three years.

Ethnic food import business plan, strategy and implementation summary chart image

Ethnic food import business plan, strategy and implementation summary chart image

Sales Forecast
Year 1 Year 2 Year 3
Sales
Supermarkets $209,500 $260,000 $310,000
Neighborhood Markets $124,000 $160,000 $200,000
Total Sales $333,500 $420,000 $510,000
Direct Cost of Sales Year 1 Year 2 Year 3
Supermarkets $85,900 $110,000 $130,000
Neighborhood Markets $18,300 $23,000 $24,000
Subtotal Direct Cost of Sales $104,200 $133,000 $154,000

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Management Summary

The two owners will co-manage the business.  Raymond Garcia is responsible for the daily management, sales, and store deliveries.  Jose Arroyo is responsible for the quality control and shipping of the goods from Mexico to the U.S.

6.1 Personnel Plan

Aztec Food Imports will have two additional delivery employees and an office manager supervised by Raymond.

Personnel Plan
Year 1 Year 2 Year 3
Raymond Garcia $36,000 $45,000 $50,000
Jose Arroyo $36,000 $45,000 $50,000
Delivery Persons $48,000 $54,000 $60,000
Office Manager $31,200 $34,000 $38,000
Other $0 $0 $0
Total People 5 5 5
Total Payroll $151,200 $178,000 $198,000

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Financial Plan

The following sections outline conservative estimates of the financial performance of Aztec Food Imports.

7.1 Break-even Analysis

The monthly break-even point is $26,514.

Ethnic food import business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $26,514
Assumptions:
Average Percent Variable Cost 31%
Estimated Monthly Fixed Cost $18,230

7.2 Projected Profit and Loss

The following table and charts will highlight the next three years.

Ethnic food import business plan, financial plan chart image

Ethnic food import business plan, financial plan chart image

Ethnic food import business plan, financial plan chart image

Ethnic food import business plan, financial plan chart image

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $333,500 $420,000 $510,000
Direct Cost of Sales $104,200 $133,000 $154,000
Other Production Expenses $0 $0 $0
Total Cost of Sales $104,200 $133,000 $154,000
Gross Margin $229,300 $287,000 $356,000
Gross Margin % 68.76% 68.33% 69.80%
Expenses
Payroll $151,200 $178,000 $198,000
Sales and Marketing and Other Expenses $0 $0 $0
Depreciation $2,880 $2,880 $2,880
Leased Equipment $0 $0 $0
Utilities $6,000 $6,000 $6,000
Insurance $0 $0 $0
Rent $36,000 $36,000 $36,000
Payroll Taxes $22,680 $26,700 $29,700
Other $0 $0 $0
Total Operating Expenses $218,760 $249,580 $272,580
Profit Before Interest and Taxes $10,540 $37,420 $83,420
EBITDA $13,420 $40,300 $86,300
Interest Expense $9,233 $7,876 $6,460
Taxes Incurred $392 $8,863 $23,088
Net Profit $915 $20,681 $53,872
Net Profit/Sales 0.27% 4.92% 10.56%

7.3 Projected Cash Flow

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

Ethnic food import business plan, financial plan chart image

Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $83,375 $105,000 $127,500
Cash from Receivables $194,775 $300,644 $367,563
Subtotal Cash from Operations $278,150 $405,644 $495,063
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 $278,150 $405,644 $495,063
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $151,200 $178,000 $198,000
Bill Payments $110,267 $228,719 $255,535
Subtotal Spent on Operations $261,467 $406,719 $453,535
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 $14,160 $14,160 $14,160
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $275,627 $420,879 $467,695
Net Cash Flow $2,523 ($15,235) $27,368
Cash Balance $107,223 $91,987 $119,355

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 $107,223 $91,987 $119,355
Accounts Receivable $55,350 $69,706 $84,643
Inventory $15,950 $20,358 $23,573
Other Current Assets $0 $0 $0
Total Current Assets $178,523 $182,052 $227,571
Long-term Assets
Long-term Assets $20,000 $20,000 $20,000
Accumulated Depreciation $2,880 $5,760 $8,640
Total Long-term Assets $17,120 $14,240 $11,360
Total Assets $195,643 $196,292 $238,931
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $24,188 $18,316 $21,243
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $24,188 $18,316 $21,243
Long-term Liabilities $85,840 $71,680 $57,520
Total Liabilities $110,028 $89,996 $78,763
Paid-in Capital $100,000 $100,000 $100,000
Retained Earnings ($15,300) ($14,385) $6,296
Earnings $915 $20,681 $53,872
Total Capital $85,615 $106,296 $160,168
Total Liabilities and Capital $195,643 $196,292 $238,931
Net Worth $85,615 $106,296 $160,168

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 5149, Groceries and Related Products, are shown for comparison.

Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth 0.00% 25.94% 21.43% 4.60%
Percent of Total Assets
Accounts Receivable 28.29% 35.51% 35.43% 33.30%
Inventory 8.15% 10.37% 9.87% 26.00%
Other Current Assets 0.00% 0.00% 0.00% 20.90%
Total Current Assets 91.25% 92.75% 95.25% 80.20%
Long-term Assets 8.75% 7.25% 4.75% 19.80%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 12.36% 9.33% 8.89% 45.20%
Long-term Liabilities 43.88% 36.52% 24.07% 10.00%
Total Liabilities 56.24% 45.85% 32.96% 55.20%
Net Worth 43.76% 54.15% 67.04% 44.80%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 68.76% 68.33% 69.80% 44.10%
Selling, General & Administrative Expenses 68.48% 63.41% 59.24% 26.70%
Advertising Expenses 0.00% 0.00% 0.00% 0.70%
Profit Before Interest and Taxes 3.16% 8.91% 16.36% 0.80%
Main Ratios
Current 7.38 9.94 10.71 1.69
Quick 6.72 8.83 9.60 1.01
Total Debt to Total Assets 56.24% 45.85% 32.96% 55.20%
Pre-tax Return on Net Worth 1.53% 27.79% 48.05% 3.60%
Pre-tax Return on Assets 0.67% 15.05% 32.21% 8.00%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 0.27% 4.92% 10.56% n.a
Return on Equity 1.07% 19.46% 33.63% n.a
Activity Ratios
Accounts Receivable Turnover 4.52 4.52 4.52 n.a
Collection Days 56 72 74 n.a
Inventory Turnover 3.83 7.33 7.01 n.a
Accounts Payable Turnover 5.56 12.17 12.17 n.a
Payment Days 27 35 28 n.a
Total Asset Turnover 1.70 2.14 2.13 n.a
Debt Ratios
Debt to Net Worth 1.29 0.85 0.49 n.a
Current Liab. to Liab. 0.22 0.20 0.27 n.a
Liquidity Ratios
Net Working Capital $154,335 $163,736 $206,328 n.a
Interest Coverage 1.14 4.75 12.91 n.a
Additional Ratios
Assets to Sales 0.59 0.47 0.47 n.a
Current Debt/Total Assets 12% 9% 9% n.a
Acid Test 4.43 5.02 5.62 n.a
Sales/Net Worth 3.90 3.95 3.18 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
Supermarkets 0% $14,000 $14,000 $14,000 $16,000 $16,000 $17,500 $18,000 $18,000 $20,000 $20,000 $20,000 $22,000
Neighborhood Markets 0% $5,000 $5,000 $6,000 $6,000 $8,000 $10,000 $12,000 $12,000 $13,000 $14,000 $16,000 $17,000
Total Sales $19,000 $19,000 $20,000 $22,000 $24,000 $27,500 $30,000 $30,000 $33,000 $34,000 $36,000 $39,000
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
Supermarkets $4,000 $4,000 $4,000 $4,400 $6,000 $6,300 $8,000 $8,200 $9,000 $10,000 $10,000 $12,000
Neighborhood Markets $1,000 $1,000 $1,000 $1,080 $1,200 $1,280 $1,700 $1,740 $1,800 $2,000 $2,000 $2,500
Subtotal Direct Cost of Sales $5,000 $5,000 $5,000 $5,480 $7,200 $7,580 $9,700 $9,940 $10,800 $12,000 $12,000 $14,500
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
Raymond Garcia 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
Jose Arroyo 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
Delivery Persons 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
Office Manager 0% $2,600 $2,600 $2,600 $2,600 $2,600 $2,600 $2,600 $2,600 $2,600 $2,600 $2,600 $2,600
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 5 5 5 5 5 5 5 5 5 5 5 5
Total Payroll $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600

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 $19,000 $19,000 $20,000 $22,000 $24,000 $27,500 $30,000 $30,000 $33,000 $34,000 $36,000 $39,000
Direct Cost of Sales $5,000 $5,000 $5,000 $5,480 $7,200 $7,580 $9,700 $9,940 $10,800 $12,000 $12,000 $14,500
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $5,000 $5,000 $5,000 $5,480 $7,200 $7,580 $9,700 $9,940 $10,800 $12,000 $12,000 $14,500
Gross Margin $14,000 $14,000 $15,000 $16,520 $16,800 $19,920 $20,300 $20,060 $22,200 $22,000 $24,000 $24,500
Gross Margin % 73.68% 73.68% 75.00% 75.09% 70.00% 72.44% 67.67% 66.87% 67.27% 64.71% 66.67% 62.82%
Expenses
Payroll $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600
Sales and Marketing and Other Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Depreciation $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $240
Leased Equipment $0 $0 $0 $0 $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% $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $18,230 $18,230 $18,230 $18,230 $18,230 $18,230 $18,230 $18,230 $18,230 $18,230 $18,230 $18,230
Profit Before Interest and Taxes ($4,230) ($4,230) ($3,230) ($1,710) ($1,430) $1,690 $2,070 $1,830 $3,970 $3,770 $5,770 $6,270
EBITDA ($3,990) ($3,990) ($2,990) ($1,470) ($1,190) $1,930 $2,310 $2,070 $4,210 $4,010 $6,010 $6,510
Interest Expense $824 $814 $804 $794 $784 $774 $765 $755 $745 $735 $725 $715
Taxes Incurred ($1,516) ($1,513) ($1,210) ($751) ($664) $275 $392 $323 $968 $911 $1,513 $1,666
Net Profit ($3,537) ($3,531) ($2,824) ($1,753) ($1,550) $641 $914 $753 $2,258 $2,125 $3,531 $3,888
Net Profit/Sales -18.62% -18.58% -14.12% -7.97% -6.46% 2.33% 3.05% 2.51% 6.84% 6.25% 9.81% 9.97%

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 $4,750 $4,750 $5,000 $5,500 $6,000 $6,875 $7,500 $7,500 $8,250 $8,500 $9,000 $9,750
Cash from Receivables $0 $475 $14,250 $14,275 $15,050 $16,550 $18,088 $20,688 $22,500 $22,575 $24,775 $25,550
Subtotal Cash from Operations $4,750 $5,225 $19,250 $19,775 $21,050 $23,425 $25,588 $28,188 $30,750 $31,075 $33,775 $35,300
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 $4,750 $5,225 $19,250 $19,775 $21,050 $23,425 $25,588 $28,188 $30,750 $31,075 $33,775 $35,300
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 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600 $12,600
Bill Payments $157 $4,697 $4,700 $4,999 $5,435 $5,541 $6,443 $6,738 $12,520 $18,899 $20,331 $19,808
Subtotal Spent on Operations $12,757 $17,297 $17,300 $17,599 $18,035 $18,141 $19,043 $19,338 $25,120 $31,499 $32,931 $32,408
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 $1,180 $1,180 $1,180 $1,180 $1,180 $1,180 $1,180 $1,180 $1,180 $1,180 $1,180 $1,180
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 $13,937 $18,477 $18,480 $18,779 $19,215 $19,321 $20,223 $20,518 $26,300 $32,679 $34,111 $33,588
Net Cash Flow ($9,187) ($13,252) $770 $996 $1,835 $4,104 $5,365 $7,670 $4,450 ($1,604) ($336) $1,712
Cash Balance $95,513 $82,261 $83,031 $84,027 $85,862 $89,966 $95,331 $103,000 $107,451 $105,847 $105,511 $107,223
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 $104,700 $95,513 $82,261 $83,031 $84,027 $85,862 $89,966 $95,331 $103,000 $107,451 $105,847 $105,511 $107,223
Accounts Receivable $0 $14,250 $28,025 $28,775 $31,000 $33,950 $38,025 $42,438 $44,250 $46,500 $49,425 $51,650 $55,350
Inventory $60,000 $55,000 $50,000 $45,000 $39,520 $32,320 $24,740 $15,040 $10,934 $11,880 $13,200 $13,200 $15,950
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $164,700 $164,763 $160,286 $156,806 $154,547 $152,132 $152,731 $152,808 $158,184 $165,831 $168,472 $170,361 $178,523
Long-term Assets
Long-term Assets $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000
Accumulated Depreciation $0 $240 $480 $720 $960 $1,200 $1,440 $1,680 $1,920 $2,160 $2,400 $2,640 $2,880
Total Long-term Assets $20,000 $19,760 $19,520 $19,280 $19,040 $18,800 $18,560 $18,320 $18,080 $17,840 $17,600 $17,360 $17,120
Total Assets $184,700 $184,523 $179,806 $176,086 $173,587 $170,932 $171,291 $171,128 $176,264 $183,671 $186,072 $187,721 $195,643
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 $4,541 $4,534 $4,818 $5,252 $5,326 $6,224 $6,328 $11,891 $18,220 $19,677 $18,974 $24,188
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 $4,541 $4,534 $4,818 $5,252 $5,326 $6,224 $6,328 $11,891 $18,220 $19,677 $18,974 $24,188
Long-term Liabilities $100,000 $98,820 $97,640 $96,460 $95,280 $94,100 $92,920 $91,740 $90,560 $89,380 $88,200 $87,020 $85,840
Total Liabilities $100,000 $103,361 $102,174 $101,278 $100,532 $99,426 $99,144 $98,068 $102,451 $107,600 $107,877 $105,994 $110,028
Paid-in Capital $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000
Retained Earnings ($15,300) ($15,300) ($15,300) ($15,300) ($15,300) ($15,300) ($15,300) ($15,300) ($15,300) ($15,300) ($15,300) ($15,300) ($15,300)
Earnings $0 ($3,537) ($7,068) ($9,892) ($11,645) ($13,194) ($12,553) ($11,640) ($10,887) ($8,629) ($6,505) ($2,973) $915
Total Capital $84,700 $81,163 $77,632 $74,808 $73,056 $71,506 $72,147 $73,060 $73,813 $76,071 $78,195 $81,727 $85,615
Total Liabilities and Capital $184,700 $184,523 $179,806 $176,086 $173,587 $170,932 $171,291 $171,128 $176,264 $183,671 $186,072 $187,721 $195,643
Net Worth $84,700 $81,163 $77,632 $74,808 $73,056 $71,506 $72,147 $73,060 $73,813 $76,071 $78,195 $81,727 $85,615

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