Corporate Fitness
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 | |||||||||||||
Sales | 0% | $17,500 | $21,000 | $22,500 | $26,000 | $32,500 | $40,000 | $47,500 | $52,375 | $56,450 | $65,750 | $72,500 | $85,000 |
Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Sales | $17,500 | $21,000 | $22,500 | $26,000 | $32,500 | $40,000 | $47,500 | $52,375 | $56,450 | $65,750 | $72,500 | $85,000 | |
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 | |
Cost of Sales | $1,500 | $1,500 | $2,000 | $2,000 | $2,500 | $2,500 | $3,000 | $3,000 | $3,500 | $3,500 | $4,000 | $4,000 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $1,500 | $1,500 | $2,000 | $2,000 | $2,500 | $2,500 | $3,000 | $3,000 | $3,500 | $3,500 | $4,000 | $4,000 |
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 | ||
Fitness Center Management | 0% | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 |
Program Director | 0% | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 |
Personnel Manager | 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 |
Health/Fitness Specialists | 0% | $2,750 | $2,750 | $2,750 | $2,750 | $2,750 | $2,750 | $2,750 | $2,750 | $2,750 | $2,750 | $2,750 | $2,750 |
Attendants | 0% | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
Total People | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Total Payroll | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 |
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 | $17,500 | $21,000 | $22,500 | $26,000 | $32,500 | $40,000 | $47,500 | $52,375 | $56,450 | $65,750 | $72,500 | $85,000 | |
Direct Cost of Sales | $1,500 | $1,500 | $2,000 | $2,000 | $2,500 | $2,500 | $3,000 | $3,000 | $3,500 | $3,500 | $4,000 | $4,000 | |
Other Costs of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $1,500 | $1,500 | $2,000 | $2,000 | $2,500 | $2,500 | $3,000 | $3,000 | $3,500 | $3,500 | $4,000 | $4,000 | |
Gross Margin | $16,000 | $19,500 | $20,500 | $24,000 | $30,000 | $37,500 | $44,500 | $49,375 | $52,950 | $62,250 | $68,500 | $81,000 | |
Gross Margin % | 91.43% | 92.86% | 91.11% | 92.31% | 92.31% | 93.75% | 93.68% | 94.27% | 93.80% | 94.68% | 94.48% | 95.29% | |
Expenses | |||||||||||||
Payroll | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | |
Marketing/Promotion | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | |
Depreciation | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | |
Rent | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | |
Utilities | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | $2,100 | |
Insurance | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | |
Leased Equipment | 0% | $2,300 | $2,300 | $2,300 | $2,300 | $2,300 | $2,300 | $2,300 | $2,300 | $2,300 | $2,300 | $2,300 | $2,300 |
Payroll Taxes | 15% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $25,050 | $25,050 | $25,050 | $25,050 | $25,050 | $25,050 | $25,050 | $25,050 | $25,050 | $25,050 | $25,050 | $25,050 | |
Profit Before Interest and Taxes | ($9,050) | ($5,550) | ($4,550) | ($1,050) | $4,950 | $12,450 | $19,450 | $24,325 | $27,900 | $37,200 | $43,450 | $55,950 | |
EBITDA | ($8,450) | ($4,950) | ($3,950) | ($450) | $5,550 | $13,050 | $20,050 | $24,925 | $28,500 | $37,800 | $44,050 | $56,550 | |
Interest Expense | $916 | $909 | $903 | $896 | $889 | $882 | $875 | $868 | $861 | $854 | $847 | $750 | |
Taxes Incurred | ($2,492) | ($1,615) | ($1,363) | ($486) | $1,015 | $2,892 | $4,644 | $5,864 | $6,760 | $9,087 | $10,651 | $13,800 | |
Net Profit | ($7,475) | ($4,845) | ($4,089) | ($1,459) | $3,046 | $8,676 | $13,931 | $17,593 | $20,279 | $27,260 | $31,952 | $41,400 | |
Net Profit/Sales | -42.71% | -23.07% | -18.18% | -5.61% | 9.37% | 21.69% | 29.33% | 33.59% | 35.92% | 41.46% | 44.07% | 48.71% |
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 | $7,000 | $8,400 | $9,000 | $10,400 | $13,000 | $16,000 | $19,000 | $20,950 | $22,580 | $26,300 | $29,000 | $34,000 | |
Cash from Receivables | $0 | $350 | $10,570 | $12,630 | $13,570 | $15,730 | $19,650 | $24,150 | $28,598 | $31,507 | $34,056 | $39,585 | |
Subtotal Cash from Operations | $7,000 | $8,750 | $19,570 | $23,030 | $26,570 | $31,730 | $38,650 | $45,100 | $51,178 | $57,807 | $63,056 | $73,585 | |
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 | $36,000 | $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 | $43,000 | $8,750 | $19,570 | $23,030 | $26,570 | $31,730 | $38,650 | $45,100 | $51,178 | $57,807 | $63,056 | $73,585 | |
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 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | $12,500 | |
Bill Payments | $396 | $11,904 | $12,769 | $13,518 | $14,426 | $16,416 | $18,299 | $20,509 | $21,728 | $23,148 | $25,459 | $27,549 | |
Subtotal Spent on Operations | $12,896 | $24,404 | $25,269 | $26,018 | $26,926 | $28,916 | $30,799 | $33,009 | $34,228 | $35,648 | $37,959 | $40,049 | |
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 | $36,000 | |
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 | $837 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $14,529 | $26,037 | $26,902 | $27,651 | $28,559 | $30,549 | $32,432 | $34,642 | $35,861 | $37,281 | $39,592 | $77,686 | |
Net Cash Flow | $28,471 | ($17,287) | ($7,332) | ($4,621) | ($1,989) | $1,181 | $6,218 | $10,458 | $15,316 | $20,526 | $23,464 | ($4,101) | |
Cash Balance | $38,471 | $21,184 | $13,852 | $9,231 | $7,242 | $8,423 | $14,641 | $25,099 | $40,415 | $60,941 | $84,405 | $80,303 |
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 | $10,000 | $38,471 | $21,184 | $13,852 | $9,231 | $7,242 | $8,423 | $14,641 | $25,099 | $40,415 | $60,941 | $84,405 | $80,303 |
Accounts Receivable | $0 | $10,500 | $22,750 | $25,680 | $28,650 | $34,580 | $42,850 | $51,700 | $58,975 | $64,248 | $72,191 | $81,635 | $93,050 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $10,000 | $48,971 | $43,934 | $39,532 | $37,881 | $41,822 | $51,273 | $66,341 | $84,074 | $104,663 | $133,132 | $166,040 | $173,353 |
Long-term Assets | |||||||||||||
Long-term Assets | $0 | $800 | $1,600 | $2,400 | $3,200 | $4,000 | $4,800 | $5,600 | $6,400 | $7,200 | $8,000 | $8,800 | $9,600 |
Accumulated Depreciation | $0 | $600 | $1,200 | $1,800 | $2,400 | $3,000 | $3,600 | $4,200 | $4,800 | $5,400 | $6,000 | $6,600 | $7,200 |
Total Long-term Assets | $0 | $200 | $400 | $600 | $800 | $1,000 | $1,200 | $1,400 | $1,600 | $1,800 | $2,000 | $2,200 | $2,400 |
Total Assets | $10,000 | $49,171 | $44,334 | $40,132 | $38,681 | $42,822 | $52,473 | $67,741 | $85,674 | $106,463 | $135,132 | $168,240 | $175,753 |
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 | $11,479 | $12,320 | $13,040 | $13,881 | $15,809 | $17,616 | $19,786 | $20,959 | $22,302 | $24,544 | $26,533 | $29,483 |
Current Borrowing | $0 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $47,479 | $48,320 | $49,040 | $49,881 | $51,809 | $53,616 | $55,786 | $56,959 | $58,302 | $60,544 | $62,533 | $29,483 |
Long-term Liabilities | $100,000 | $99,167 | $98,334 | $97,501 | $96,668 | $95,835 | $95,002 | $94,169 | $93,336 | $92,503 | $91,670 | $90,837 | $90,000 |
Total Liabilities | $100,000 | $146,646 | $146,654 | $146,541 | $146,549 | $147,644 | $148,618 | $149,955 | $150,295 | $150,805 | $152,214 | $153,370 | $119,483 |
Paid-in Capital | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 |
Retained Earnings | ($290,000) | ($290,000) | ($290,000) | ($290,000) | ($290,000) | ($290,000) | ($290,000) | ($290,000) | ($290,000) | ($290,000) | ($290,000) | ($290,000) | ($290,000) |
Earnings | $0 | ($7,475) | ($12,319) | ($16,409) | ($17,868) | ($14,822) | ($6,146) | $7,786 | $25,379 | $45,658 | $72,918 | $104,870 | $146,270 |
Total Capital | ($90,000) | ($97,475) | ($102,319) | ($106,409) | ($107,868) | ($104,822) | ($96,146) | ($82,214) | ($64,621) | ($44,342) | ($17,082) | $14,870 | $56,270 |
Total Liabilities and Capital | $10,000 | $49,171 | $44,334 | $40,132 | $38,681 | $42,822 | $52,473 | $67,741 | $85,674 | $106,463 | $135,132 | $168,240 | $175,753 |
Net Worth | ($90,000) | ($97,475) | ($102,319) | ($106,409) | ($107,868) | ($104,822) | ($96,146) | ($82,214) | ($64,621) | ($44,342) | ($17,082) | $14,870 | $56,270 |