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South Kelleton Keys and Locksmith

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
Hardware Products $3,000 $3,900 $5,070 $6,591 $8,568 $11,138 $14,479 $18,823 $24,470 $31,811 $41,354 $53,760
Key Services $300 $390 $507 $659 $857 $1,114 $1,448 $1,882 $2,447 $3,181 $4,135 $5,376
Repair Services $500 $650 $845 $1,098 $1,427 $1,855 $2,412 $3,136 $4,077 $5,300 $6,890 $8,957
Installation Services $1,500 $1,950 $2,535 $3,296 $4,285 $5,570 $7,241 $9,413 $12,237 $15,908 $20,680 $26,884
Emergency Services $400 $520 $676 $879 $1,143 $1,486 $1,932 $2,512 $3,266 $4,246 $5,520 $7,176
Referral Commissions $1,000 $1,300 $1,690 $2,197 $2,856 $3,713 $4,827 $6,275 $8,158 $10,605 $13,786 $17,922
Total Sales $6,700 $8,710 $11,323 $14,720 $19,136 $24,876 $32,339 $42,041 $54,655 $71,051 $92,365 $120,075
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
Hardware Cost $1,800 $2,340 $3,042 $3,955 $5,141 $6,683 $8,687 $11,294 $14,682 $19,087 $24,812 $32,256
Services Cost $540 $702 $913 $1,186 $1,542 $2,005 $2,607 $3,389 $4,405 $5,727 $7,445 $9,679
Subtotal Direct Cost of Sales $2,340 $3,042 $3,955 $5,141 $6,683 $8,688 $11,294 $14,682 $19,087 $24,814 $32,257 $41,935
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
Owner $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $5,000 $6,000
Assistant Store Manager $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Store Staff $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Assistant Locksmith $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 2 2 2 2 2 2 2 2 2 2 2 2
Total Payroll $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $9,000 $10,000

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 $6,700 $8,710 $11,323 $14,720 $19,136 $24,876 $32,339 $42,041 $54,655 $71,051 $92,365 $120,075
Direct Cost of Sales $2,340 $3,042 $3,955 $5,141 $6,683 $8,688 $11,294 $14,682 $19,087 $24,814 $32,257 $41,935
Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $2,340 $3,042 $3,955 $5,141 $6,683 $8,688 $11,294 $14,682 $19,087 $24,814 $32,257 $41,935
Gross Margin $4,360 $5,668 $7,368 $9,579 $12,453 $16,188 $21,045 $27,359 $35,568 $46,237 $60,108 $78,140
Gross Margin % 65.07% 65.07% 65.07% 65.07% 65.08% 65.08% 65.08% 65.08% 65.08% 65.08% 65.08% 65.08%
Expenses
Payroll $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $9,000 $10,000
Marketing/Promotion $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Depreciation $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Rent $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
Utilities $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
Insurance & Bonding $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Payroll Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Store Supplies $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Van Fuel, Maintenance & Parking 15.00% $300 $350 $400 $450 $475 $500 $500 $500 $500 $525 $525 $525
Training and Education $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Total Operating Expenses $16,300 $16,350 $16,400 $16,450 $16,475 $16,500 $16,500 $16,500 $16,500 $16,525 $17,525 $18,525
Profit Before Interest and Taxes ($11,940) ($10,682) ($9,032) ($6,871) ($4,022) ($312) $4,545 $10,859 $19,068 $29,712 $42,583 $59,615
EBITDA ($10,440) ($9,182) ($7,532) ($5,371) ($2,522) $1,188 $6,045 $12,359 $20,568 $31,212 $44,083 $61,115
Interest Expense $699 $690 $681 $672 $656 $641 $619 $598 $576 $542 $508 $473
Taxes Incurred ($3,792) ($3,412) ($2,914) ($2,263) ($1,404) ($286) $1,178 $3,078 $5,548 $8,751 $12,623 $17,743
Net Profit ($8,847) ($7,960) ($6,799) ($5,280) ($3,275) ($667) $2,748 $7,183 $12,944 $20,420 $29,453 $41,399
Net Profit/Sales -132.05% -91.39% -60.04% -35.87% -17.11% -2.68% 8.50% 17.09% 23.68% 28.74% 31.89% 34.48%

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 $5,025 $6,533 $8,492 $11,040 $14,352 $18,657 $24,254 $31,531 $40,991 $53,288 $69,274 $90,056
Cash from Receivables $0 $893 $1,943 $2,526 $3,284 $4,269 $5,549 $7,214 $9,378 $12,192 $15,850 $20,605
Subtotal Cash from Operations $5,025 $7,426 $10,435 $13,566 $17,636 $22,926 $29,804 $38,745 $50,370 $65,480 $85,124 $110,661
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 $5,025 $7,426 $10,435 $13,566 $17,636 $22,926 $29,804 $38,745 $50,370 $65,480 $85,124 $110,661
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 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $9,000 $10,000
Bill Payments $20,124 $3,721 $4,146 $4,690 $5,388 $6,506 $14,937 $25,531 $32,431 $41,406 $53,074 $67,941
Subtotal Spent on Operations $28,124 $11,721 $12,146 $12,690 $13,388 $14,506 $22,937 $33,531 $40,431 $49,406 $62,074 $77,941
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 $500 $500 $1,000 $1,000 $1,000 $2,000 $2,000 $2,000
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100
Purchase Other Current Assets $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $500 $500 $500 $500 $500 $500
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $29,724 $13,321 $13,746 $14,290 $15,488 $16,606 $26,037 $36,631 $43,531 $53,506 $66,174 $82,041
Net Cash Flow ($24,699) ($5,896) ($3,311) ($724) $2,148 $6,320 $3,767 $2,114 $6,838 $11,974 $18,949 $28,620
Cash Balance $19,551 $13,656 $10,345 $9,620 $11,768 $18,088 $21,855 $23,969 $30,807 $42,781 $61,730 $90,350

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 $44,250 $19,551 $13,656 $10,345 $9,620 $11,768 $18,088 $21,855 $23,969 $30,807 $42,781 $61,730 $90,350
Accounts Receivable $0 $1,675 $2,959 $3,847 $5,001 $6,501 $8,452 $10,987 $14,283 $18,569 $24,139 $31,381 $40,795
Inventory $40,000 $37,660 $34,618 $30,663 $25,522 $18,839 $17,376 $22,588 $29,365 $38,175 $49,627 $64,515 $83,869
Other Current Assets $20,000 $20,500 $21,000 $21,500 $22,000 $22,500 $23,000 $23,500 $24,000 $24,500 $25,000 $25,500 $26,000
Total Current Assets $104,250 $79,386 $72,233 $66,355 $62,144 $59,609 $66,915 $78,930 $91,617 $112,050 $141,548 $183,126 $241,014
Long-term Assets
Long-term Assets $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,500 $41,000 $41,500 $42,000 $42,500 $43,000
Accumulated Depreciation $0 $1,500 $3,000 $4,500 $6,000 $7,500 $9,000 $10,500 $12,000 $13,500 $15,000 $16,500 $18,000
Total Long-term Assets $40,000 $38,500 $37,000 $35,500 $34,000 $32,500 $31,000 $30,000 $29,000 $28,000 $27,000 $26,000 $25,000
Total Assets $144,250 $117,886 $109,233 $101,855 $96,144 $92,109 $97,915 $108,930 $120,617 $140,050 $168,548 $209,126 $266,014
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 $20,000 $3,584 $3,991 $4,512 $5,180 $6,020 $14,093 $24,460 $31,064 $39,653 $50,831 $65,057 $83,646
Current Borrowing $10,000 $10,000 $10,000 $10,000 $10,000 $9,500 $9,000 $8,000 $7,000 $6,000 $4,000 $2,000 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $30,000 $13,584 $13,991 $14,512 $15,180 $15,520 $23,093 $32,460 $38,064 $45,653 $54,831 $67,057 $83,646
Long-term Liabilities $70,000 $68,900 $67,800 $66,700 $65,600 $64,500 $63,400 $62,300 $61,200 $60,100 $59,000 $57,900 $56,800
Total Liabilities $100,000 $82,484 $81,791 $81,212 $80,780 $80,020 $86,493 $94,760 $99,264 $105,753 $113,831 $124,957 $140,446
Paid-in Capital $77,000 $77,000 $77,000 $77,000 $77,000 $77,000 $77,000 $77,000 $77,000 $77,000 $77,000 $77,000 $77,000
Retained Earnings ($32,750) ($32,750) ($32,750) ($32,750) ($32,750) ($32,750) ($32,750) ($32,750) ($32,750) ($32,750) ($32,750) ($32,750) ($32,750)
Earnings $0 ($8,847) ($16,808) ($23,607) ($28,886) ($32,161) ($32,828) ($30,080) ($22,897) ($9,953) $10,466 $39,919 $81,318
Total Capital $44,250 $35,403 $27,442 $20,643 $15,364 $12,089 $11,422 $14,170 $21,353 $34,297 $54,716 $84,169 $125,568
Total Liabilities and Capital $144,250 $117,886 $109,233 $101,855 $96,144 $92,109 $97,915 $108,930 $120,617 $140,050 $168,548 $209,126 $266,014
Net Worth $44,250 $35,403 $27,442 $20,643 $15,364 $12,089 $11,422 $14,170 $21,353 $34,297 $54,716 $84,169 $125,568