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Greens Manicure Service

Executive Summary

Greens Manicure Service is a seasonal residential lawn care service targeting suburban middle-class homes with larger yards. A large grouping of this demographic is located in Steve’s neighborhood. Steve will leverage his connection to the neighborhood to sign up customers.

For year one Steve will have one employee in addition to himself. By year two Steve will purchase a second vehicle, additional equipment, and hire two new employees to form a second work crew.

Greens Manicure Service is projected to reach profitability by month seven and will have profits of $10,000 by the end of the third year. Revenue activity will occur from April through November.

1.1 Objectives

The objectives for the first three years of operation include:

  • To create a service-based company whose primary goal is to exceed customer’s expectations.
  • The utilization of Greens Manicure Service in at least 20 different residential homes.
  • To increase our number of clients served by 20% per year through superior service.
  • To develop a sustainable home business, surviving off its own cash flow.

1.2 Mission

Greens Manicure Service’s mission is to provide the customer with professional lawn care. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.

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Company Summary

Greens Manicure Service is a seasonal residential lawn care service targeting suburban middle-class homes with larger yards. A large grouping of this demographic is located in Steve’s neighborhood. Steve will leverage his connection to the neighborhood to sign up customers.

For year one Steve will have one employee in addition to himself. By year two Steve will purchase a second vehicle, additional equipment, and hire two new employees to form a second work crew.

Greens Manicure Service is projected to reach profitability by month seven and will have profits of $10,000 by the end of the third year. Revenue activity will occur from April through November.

1.1 Objectives

The objectives for the first three years of operation include:

  • To create a service-based company whose primary goal is to exceed customer’s expectations.
  • The utilization of Greens Manicure Service in at least 20 different residential homes.
  • To increase our number of clients served by 20% per year through superior service.
  • To develop a sustainable home business, surviving off its own cash flow.

1.2 Mission

Greens Manicure Service’s mission is to provide the customer with professional lawn care. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.

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Services

Greens Manicure Service will provide residential lawn care service which includes lawn cutting, edging and trimming. Optional services will include hedge trimming. The service is typically offered once a week in season, but Greens can create a custom schedule for clients.

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Market Analysis Summary

Greens Manicure Service will be targeting one specific segment of the population, suburban middle-class families with no children and larger lawns. This group of people are the most likely to use a lawn care service such as Steve’s.

Steve will be canvassing his parents neighborhood, developing a client list. For the second year, Steve will expand service beyond his general neighborhood, utilizing advertisements in the local newspaper to develop visibility for Greens Manicure Service.

4.1 Service Business Analysis

Greens Manicure Service will be working in the lawn care industry. The industry is both residential business (individual home) and commercial businesses (apartment complexes, business parks, schools, etc.).

The commercial side is generally serviced by larger landscaping services. The residential side is serviced by both landscaping companies and basic lawn care service companies.

The lawn care business is made up of many small companies. This occurs because of the high labor intensity, low start-up costs, nature of the industry. The industry is also vulnerable to recessions as lawn care is a luxury. Lasty, lawn care is seasonal, the high season is spring through fall. There is little activity in the winter.

4.1.1 Competition and Buying Patterns

The lawn care business can be divided into two types, residential and commercial. As a smaller company or start up business, it is much easier to enter into the residential market compared with the commercial market. The commercial market is dominated by larger, established companies.

Within the residential market, there are two competitors: full-scale landscaping companies and basic lawn care services. The full-scale landscaping companies will generally be handling jobs outside of Green’s range. They are servicing even larger homes that require other landscaping activities that need more equipment and higher-skilled employees. The margins are therefore larger for the full-scale companies because they can charge more for the higher-skilled work. The other competitor is the basic lawn care services, not unlike Greens Manicure Service. Most markets, including Greens, the competition is not overwhelming and often lacks basic quality and professionalism.

More often than not, residential customers make purchasing decisions based on referrals and perceived professionalism and quality.

4.2 Target Market Segment Strategy

Greens Manicure Service’s segment will be initially targeted by canvassing the neighborhood and offering a free estimate and cut. Steve will be basing the business out of his parents home, right in the middle of a target neighborhood. Steve will walk the neighborhood and leverage his relationship in this community to gain a foothold. Although some people are put off by solicitors, Steve is their neighbor so he will generally be able to make his spiel.

Once Steve  has built up a steady list of customers he will begin to run advertisements in the local paper to gain a foothold in different neighborhoods. This will take place during the second year as Steve will have sufficient business for year one in his neighborhood.

4.3 Market Segmentation

Greens Manicure Service will be targeting one specific group of customers, the suburban middle class. Greens is targeting middle-aged homemakers as they are more likely to rely on a lawn service. Younger homemakers are more likely to do their lawn themselves. Greens will also be targeting homes that do not have teenage children, as the youngsters are likely to help out with the lawn. The median income is $60-$120K, just enough to have disposable income for the care of their lawn. Greens Manicure Service will be targeting larger size lawns, from 4,000-7,000 square feet. This is done because the margins are higher with larger lawns once you factor in transportation time and costs. Lastly, white collar families will be targeted instead of blue collar families as the blue collar families are more likely to do the lawn themselves.

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Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Suburban middle class 12% 325 364 408 457 512 12.03%
Other 0% 0 0 0 0 0 0.00%
Total 12.03% 325 364 408 457 512 12.03%

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Strategy and Implementation Summary

Greens Manicure Service will be aggressively targeting Steve’s neighborhood community by emphasizing its competitive edges of quality and professionalism. For year one Steve will be personally canvassing the area signing up clients. He will be able to leverage his competitive advantages as well as his status as a member of the community. For year two Steve will begin advertisements in the local paper to generate additional business.

5.1 Competitive Edge

Greens Manicure Service’s competitive edge will be based on quality and professionalism. During the first year Steve will be doing all of the lawns with only one other employee. This provides him with direct supervision of the employee and direct involvement with the job. This will ensure customers receive a quality job. Steve knows what quality work is, based on previous experiences to be detailed under the Management section.

Greens second competitive edge is professionalism. Steve will ensure that all interactions between the customer and his employee, as well as himself, ooze professionalism.

Steve truly believes that professionalism and quality are the factors that attract and maintain customers. Consequently, Steve will be truly vigilant in ensuring that his competitive edges are always apparent to the customer as his livelihood is dependant on this.

5.2 Sales Strategy

Greens Manicure Service’s sales strategy will be based on one-on-one communications with prospective leads. Steve will first be leveraging his relationships with his parents (pillars in the neighborhood) and his connection with the neighborhood. The prospectives will generally form a bit of a bond with Steve because of local familiarity and then Steve will need to communicate his experience in lawn care and his constant benchmarks of quality and professionalism. Steve is willing to offer a free estimate and cutting for those that are interested in a possible contract. Although some of the free cuttings will not turn out to be long term customers, he is confident that his competitive prices and superior service will turn most of the leads into customers.

By year two, the business will be ready to expand outside of the neighborhood and Steve will be using advertisements in the local paper to generate business. When people call with questions, Steve will have already (the previous year) built up a loyal following of customers that will serve as an effective referral system in which prospective people can call the current customers and get a glowing testimonial of Green’s service.

5.2.1 Sales Forecast

The first month will be used to set up the office, purchase the necessary lawn care equipment, hire and train an employee. Additionally, during the last two weeks of the month, Steve will be canvassing the neighborhood to build up a customer list.

Month two will see some business. The business will be growing as Steve continues to increase the number of jobs that he has. Month two through October will see a steady rise in revenues. Business will pick up again in April of year two. From February through April Steve will be working hard on generating new customers and will bring on two additional employees to service the new customers.

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Sales Forecast
Year 1 Year 2 Year 3
Sales
Suburban middle class $41,748 $91,254 $97,854
Other $0 $0 $0
Total Sales $41,748 $91,254 $97,854
Direct Cost of Sales Year 1 Year 2 Year 3
Suburban middle class $2,922 $6,388 $6,850
Other $0 $0 $0
Subtotal Direct Cost of Sales $2,922 $6,388 $6,850

5.3 Milestones

Greens Manicure Service will have several milestones early on:

  1. Business plan completion. This will be done as a roadmap for the organization. While we do not need a business plan to raise capital, it will be an indispensable tool for the ongoing performance and improvement of the company.
  2. Set up the office.
  3. Signing up the 20th client.
  4. Revenue exceeding $50,000.
Milestones
Milestone Start Date End Date Budget Manager Department
Business plan completion 3/1/2001 4/1/2001 $0 ABC Marketing
Set up the office 3/1/2001 4/1/2001 $0 ABC Department
Signing up the 20th client 3/1/2001 5/1/2001 $0 ABC Department
Revenue exceeding $50,000 3/1/2001 5/1/2002 $0 ABC Department
Totals $0

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Management Summary

Greens Manicure Service is owned and operated by Steve Greinthum. Steve was first introduced to lawn care while he was pursuing his bachelor’s degree in business from the University of Oregon. Steve worked for a large, well-respected landscaping company. He started out his freshman summer year as a mower operater. During his four years at school he eventually moved up to crew manager. 

Steve enjoyed taking care of lawns. He was always excited about working outside. He also liked the management responsibilities that he had his last summer. The one thing he longed for is operating his own company. He decided the only thing stopping him was money, he already had all the experience and knowledge necessary. So Steve got a loan from his parents and started the company.

6.1 Personnel Plan

Greens Manicure Service will consist of Steve working full time. Steve will be the manager for the business, signing up new customers, managing customer accounts, hiring, training, supervising, and cutting grass.

Greens Manicure Service will use a total of two people during year one. For year two Steve will hire an additional two people to create a second work crew.

Personnel Plan
Year 1 Year 2 Year 3
Steve $22,500 $22,500 $22,500
Employee 1 $12,800 $12,800 $12,800
Employee 2 $0 $12,800 $12,800
Employee 3 $0 $12,800 $12,800
Total People 0 4 4
Total Payroll $35,300 $60,900 $60,900

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Financial Plan

The following sections will outline important financial information.

7.1 Important Assumptions

The following table highlights some important financial assumptions of Greens.

General Assumptions
Year 1 Year 2 Year 3
Plan Month 1 2 3
Current Interest Rate 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00%
Tax Rate 25.42% 25.00% 25.42%
Other 0 0 0

7.2 Break-even Analysis

The Break-even Analysis indicates approximately $3,900 is needed in monthly revenue to break even.

Lawn landscaping business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $3,956
Assumptions:
Average Percent Variable Cost 7%
Estimated Monthly Fixed Cost $3,679

7.3 Projected Profit and Loss

The following table indicates the projected profit and loss.

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $41,748 $91,254 $97,854
Direct Cost of Sales $2,922 $6,388 $6,850
Other $0 $0 $0
Total Cost of Sales $2,922 $6,388 $6,850
Gross Margin $38,826 $84,866 $91,004
Gross Margin % 93.00% 93.00% 93.00%
Expenses
Payroll $35,300 $60,900 $60,900
Sales and Marketing and Other Expenses $0 $0 $0
Depreciation $1,152 $2,552 $2,552
Leased Equipment $0 $0 $0
Utilities $0 $0 $0
Insurance $1,200 $1,200 $1,200
Licenses + bonded fees $1,200 $1,200 $1,200
Payroll Taxes $5,295 $9,135 $9,135
Other $0 $0 $0
Total Operating Expenses $44,147 $74,987 $74,987
Profit Before Interest and Taxes ($5,321) $9,879 $16,017
EBITDA ($4,169) $12,431 $18,569
Interest Expense $1,847 $1,675 $1,495
Taxes Incurred $0 $2,051 $3,691
Net Profit ($7,169) $6,153 $10,831
Net Profit/Sales -17.17% 6.74% 11.07%

7.4 Projected Cash Flow

The following chart and table will indicate projected cash flow.

Lawn landscaping business plan, financial plan chart image

Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $31,311 $68,441 $73,391
Cash from Receivables $10,437 $22,814 $24,464
Subtotal Cash from Operations $41,748 $91,254 $97,854
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 $41,748 $91,254 $97,854
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $35,300 $60,900 $60,900
Bill Payments $12,129 $20,205 $23,413
Subtotal Spent on Operations $47,429 $81,105 $84,313
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 $1,800 $1,800 $1,800
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $7,000 $0
Dividends $0 $0 $0
Subtotal Cash Spent $49,229 $89,905 $86,113
Net Cash Flow ($7,481) $1,349 $11,741
Cash Balance $6,919 $8,268 $20,009

7.5 Projected Balance Sheet

The following table indicates the projected balance sheet.

Pro Forma Balance Sheet
Year 1 Year 2 Year 3
Assets
Current Assets
Cash $6,919 $8,268 $20,009
Accounts Receivable $0 $0 $0
Other Current Assets $0 $0 $0
Total Current Assets $6,919 $8,268 $20,009
Long-term Assets
Long-term Assets $4,750 $11,750 $11,750
Accumulated Depreciation $1,152 $3,704 $6,256
Total Long-term Assets $3,598 $8,046 $5,494
Total Assets $10,517 $16,314 $25,503
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $336 $1,779 $1,937
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $336 $1,779 $1,937
Long-term Liabilities $17,650 $15,850 $14,050
Total Liabilities $17,986 $17,629 $15,987
Paid-in Capital $0 $0 $0
Retained Earnings ($300) ($7,469) ($1,316)
Earnings ($7,169) $6,153 $10,831
Total Capital ($7,469) ($1,316) $9,515
Total Liabilities and Capital $10,517 $16,314 $25,503
Net Worth ($7,469) ($1,316) $9,515

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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
Suburban middle class 0% $0 $3,254 $3,541 $4,785 $5,124 $5,478 $6,145 $6,547 $6,874 $0 $0 $0
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $0 $3,254 $3,541 $4,785 $5,124 $5,478 $6,145 $6,547 $6,874 $0 $0 $0
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
Suburban middle class $0 $228 $248 $335 $359 $383 $430 $458 $481 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $0 $228 $248 $335 $359 $383 $430 $458 $481 $0 $0 $0
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
Steve 0% $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $0 $0 $0
Employee 1 0% $0 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $0 $0 $0
Employee 2 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Employee 3 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 1 2 2 2 2 2 2 2 2 0 0 0
Total Payroll $2,500 $4,100 $4,100 $4,100 $4,100 $4,100 $4,100 $4,100 $4,100 $0 $0 $0

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% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
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 $0 $3,254 $3,541 $4,785 $5,124 $5,478 $6,145 $6,547 $6,874 $0 $0 $0
Direct Cost of Sales $0 $228 $248 $335 $359 $383 $430 $458 $481 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $0 $228 $248 $335 $359 $383 $430 $458 $481 $0 $0 $0
Gross Margin $0 $3,026 $3,293 $4,450 $4,765 $5,095 $5,715 $6,089 $6,393 $0 $0 $0
Gross Margin % 0.00% 93.00% 93.00% 93.00% 93.00% 93.00% 93.00% 93.00% 93.00% 0.00% 0.00% 0.00%
Expenses
Payroll $2,500 $4,100 $4,100 $4,100 $4,100 $4,100 $4,100 $4,100 $4,100 $0 $0 $0
Sales and Marketing and Other Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Depreciation $96 $96 $96 $96 $96 $96 $96 $96 $96 $96 $96 $96
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Insurance $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Licenses + bonded fees $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Payroll Taxes 15% $375 $615 $615 $615 $615 $615 $615 $615 $615 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $3,171 $5,011 $5,011 $5,011 $5,011 $5,011 $5,011 $5,011 $5,011 $296 $296 $296
Profit Before Interest and Taxes ($3,171) ($1,985) ($1,718) ($561) ($246) $84 $704 $1,078 $1,382 ($296) ($296) ($296)
EBITDA ($3,075) ($1,889) ($1,622) ($465) ($150) $180 $800 $1,174 $1,478 ($200) ($200) ($200)
Interest Expense $161 $160 $158 $157 $156 $155 $153 $152 $151 $150 $148 $147
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($3,332) ($2,144) ($1,876) ($718) ($402) ($71) $551 $926 $1,231 ($446) ($444) ($443)
Net Profit/Sales 0.00% -65.90% -52.99% -15.01% -7.84% -1.30% 8.96% 14.14% 17.91% 0.00% 0.00% 0.00%

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 $0 $2,441 $2,656 $3,589 $3,843 $4,109 $4,609 $4,910 $5,156 $0 $0 $0
Cash from Receivables $0 $0 $27 $816 $896 $1,199 $1,284 $1,375 $1,540 $1,639 $1,661 $0
Subtotal Cash from Operations $0 $2,441 $2,683 $4,405 $4,739 $5,308 $5,893 $6,285 $6,695 $1,639 $1,661 $0
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 $0 $2,441 $2,683 $4,405 $4,739 $5,308 $5,893 $6,285 $6,695 $1,639 $1,661 $0
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 $2,500 $4,100 $4,100 $4,100 $4,100 $4,100 $4,100 $4,100 $4,100 $0 $0 $0
Bill Payments $25 $751 $1,203 $1,224 $1,308 $1,330 $1,355 $1,399 $1,426 $1,410 $350 $348
Subtotal Spent on Operations $2,525 $4,851 $5,303 $5,324 $5,408 $5,430 $5,455 $5,499 $5,526 $1,410 $350 $348
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 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
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 $2,675 $5,001 $5,453 $5,474 $5,558 $5,580 $5,605 $5,649 $5,676 $1,560 $500 $498
Net Cash Flow ($2,675) ($2,561) ($2,770) ($1,069) ($819) ($273) $288 $636 $1,019 $79 $1,162 ($498)
Cash Balance $11,725 $9,165 $6,394 $5,325 $4,506 $4,233 $4,521 $5,157 $6,176 $6,255 $7,417 $6,919
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 $14,400 $11,725 $9,165 $6,394 $5,325 $4,506 $4,233 $4,521 $5,157 $6,176 $6,255 $7,417 $6,919
Accounts Receivable $0 $0 $814 $1,672 $2,052 $2,437 $2,608 $2,860 $3,122 $3,301 $1,661 $0 $0
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $14,400 $11,725 $9,978 $8,066 $7,377 $6,943 $6,841 $7,381 $8,279 $9,477 $7,916 $7,417 $6,919
Long-term Assets
Long-term Assets $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750
Accumulated Depreciation $0 $96 $192 $288 $384 $480 $576 $672 $768 $864 $960 $1,056 $1,152
Total Long-term Assets $4,750 $4,654 $4,558 $4,462 $4,366 $4,270 $4,174 $4,078 $3,982 $3,886 $3,790 $3,694 $3,598
Total Assets $19,150 $16,379 $14,536 $12,528 $11,743 $11,213 $11,015 $11,459 $12,261 $13,363 $11,706 $11,111 $10,517
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 $711 $1,162 $1,180 $1,263 $1,285 $1,308 $1,352 $1,378 $1,399 $338 $337 $336
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 $711 $1,162 $1,180 $1,263 $1,285 $1,308 $1,352 $1,378 $1,399 $338 $337 $336
Long-term Liabilities $19,450 $19,300 $19,150 $19,000 $18,850 $18,700 $18,550 $18,400 $18,250 $18,100 $17,950 $17,800 $17,650
Total Liabilities $19,450 $20,011 $20,312 $20,180 $20,113 $19,985 $19,858 $19,752 $19,628 $19,499 $18,288 $18,137 $17,986
Paid-in Capital $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Retained Earnings ($300) ($300) ($300) ($300) ($300) ($300) ($300) ($300) ($300) ($300) ($300) ($300) ($300)
Earnings $0 ($3,332) ($5,476) ($7,352) ($8,070) ($8,472) ($8,543) ($7,992) ($7,067) ($5,836) ($6,281) ($6,726) ($7,169)
Total Capital ($300) ($3,632) ($5,776) ($7,652) ($8,370) ($8,772) ($8,843) ($8,292) ($7,367) ($6,136) ($6,581) ($7,026) ($7,469)
Total Liabilities and Capital $19,150 $16,379 $14,536 $12,528 $11,743 $11,213 $11,015 $11,459 $12,261 $13,363 $11,706 $11,111 $10,517
Net Worth ($300) ($3,632) ($5,776) ($7,652) ($8,370) ($8,772) ($8,843) ($8,292) ($7,367) ($6,136) ($6,581) ($7,026) ($7,469)

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