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Last Frontier Market

Executive Summary

Last Frontier Market will offer customers organic and locally grown produce, chemical- and preservative-free groceries, cruelty-free body care and eco-household products. All of our products are healthy alternatives to the products available at conventional grocery chains. Located in the heart of the growing Willow Creek section of Richmond, the market will serve a community of 25,000 residents. The creation of the market is in response to the growing demand in the community for a local natural food store.

The Last Frontier Market will have the advantage of the foot traffic in the Willow Creek retail area which is the home of the Willow Creek Arts and Craft Fair, as well as the home of numerous art and craft shops. The area has a reputation of supporting progressive causes and businesses. The market will be a comfortable place to meet and shop in the community.

In addition, the market will also be the most convenient in the area. The closest competing natural food store to the Willow Creek area is a twenty minute drive.

The Last Frontier Market will give back to the community. We will participate in community projects and host fund-raisers for local community services.

Organic food store business plan, executive summary chart image

1.1 Objectives

  • Provide our customers with the freshest, organically grown fruits and vegetables.
  • Offer foods without artificial colors, flavors, or additives.
  • Sell earth-friendly cleansers; pure, natural supplements; and gentle, cruelty-free body care products.
  • Support organic farms that keep our earth and water pure.

 

1.2 Mission

The Last Frontier Market is committed to providing the highest quality, fresh and natural food, health and wellness products.  Our staff are friendly, eager to serve and ready to educate.

 

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Company Summary

Last Frontier Market is a vegetarian health food store located in the heart of the Willow Creek section of Richmond.  The community of 25,000 residents is made up of students attending the State University and families attracted to the new home construction in the area.

Co-owners, Josh Wingard and Mary Stevens, are opening the Last Frontier Market to capitalize on the growing demand in the community for a local food store that offers organic and locally grown produce, chemical and preservative free groceries, cruelty-free body care and eco-household products.

 

2.1 Company Ownership

Last Frontier Market is owned by Josh Wingard and Mary Stevens.

2.2 Start-up Summary

The start-up cost of the Last Frontier Market will consist primarily of inventory and display equipment. Josh Wingard and Mary Stevens will invest $80,000.  They will also secure a $50,000 SBA loan.

Organic food store business plan, company summary chart image

Start-up Funding
Start-up Expenses to Fund $77,800
Start-up Assets to Fund $52,200
Total Funding Required $130,000
Assets
Non-cash Assets from Start-up $10,000
Cash Requirements from Start-up $42,200
Additional Cash Raised $0
Cash Balance on Starting Date $42,200
Total Assets $52,200
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $50,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $50,000
Capital
Planned Investment
Josh Wingard and Mary Stevens $80,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $80,000
Loss at Start-up (Start-up Expenses) ($77,800)
Total Capital $2,200
Total Capital and Liabilities $52,200
Total Funding $130,000
Start-up
Requirements
Start-up Expenses
Legal $1,000
Insurance $0
Rent $1,800
Start-Up Inventory $40,000
Display Set-Up $5,000
Cash Reserve for Hiring $30,000
Advertising $0
Other $0
Total Start-up Expenses $77,800
Start-up Assets
Cash Required $42,200
Other Current Assets $0
Long-term Assets $10,000
Total Assets $52,200
Total Requirements $130,000

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Products

The Last Frontier Market will offer customers organic and locally grown produce, chemical- and preservative-free groceries, cruelty-free body care and eco-household products. The products are:

  • Free of artificial preservatives.
  • Free of artificial colors.
  • Free of chemical additives.
  • Organically grown, whenever possible.
  • The least processed or unadulterated version available.
  • Non-irradiated.
  • Cruelty free.
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Market Analysis Summary

In the past ten years, the Willow Creek section of Richmond has grown tremendously. The growing student community combined with the new families in the area are a perfect customer support base for the Last Frontier Market.

Currently, the area is served by two major supermarkets that do not carry any of the product lines available at the Last Frontier Market. The closest natural food store is a twenty minute drive.

Josh Wingard and Mary Stevens believe that a local natural food store in the Willow Creek area would be competitive and offer customers a product selection that will assure repeat business.

4.1 Market Segmentation

The Last Frontier Market will focus two significant customer groups:

  • Families:  Many of the young families moving into the Willow Creek area are doing so because of its unique community environment. The community is home to a number of artists and craft people that operate the Willow Creek Craft Fair.  This creates a festive environment in the Willow Creek central commercial/retail area that attract shoppers each weekend. Its close proximity to the university also attracts young families where one or both parents are students or employees of the university.  These families are a strong customer base for the Last Frontier Market.
  • Students: A significant number of students prefer to shop at a natural food store. The Last Frontier Market will be within walking distance for most area residents.  Our location will make our store a convenient place to shop on the way home from classes.
Organic food store business plan, market analysis summary chart image

Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Family Members 15% 9,000 10,350 11,903 13,688 15,741 15.00%
Students 10% 16,000 17,600 19,360 21,296 23,426 10.00%
Other 0% 0 0 0 0 0 0.00%
Total 11.88% 25,000 27,950 31,263 34,984 39,167 11.88%

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Strategy and Implementation Summary

The Last Frontier Market will promote the store opening.  We will have live music and food in the store’s parking lot for the opening weekend.  The Willow Creek Craft Fair is adjacent to our store and we should have excellent foot traffic for our opening.

We will advertise in the university daily student newspaper as well as the local area advertising flyer.  In the advertisements for the market opening, we will have a 20% off coupon for purchases over twenty dollars.  We will continue this discount for the first month of operation.

The Last Frontier Market will give back to the community. We will participate in community projects like the area’s food bank and community programs for children.  The Last Frontier Market will also hosts a number of community events, such as charity pancake brunches, dog washes benefiting local humane societies and benefit barbecues.

5.1 Competitive Edge

The Last Frontier Market’s competitive edge is:

  • Location:  The Last Frontier Market is located located in the heart of the Willow Creek section of Richmond. The foot traffic in the Willow Creek retail area is very strong. The closest natural food store to the Willow Creek area is a twenty minute drive.
  • Community Support: The Last Frontier Market is a community market that will give back to the community. We will participate in community projects like the area’s food bank and community programs for children.  The Last Frontier Market will also host a number of community events, such as charity pancake brunches, dog washes benefiting local humane societies and benefit barbecues.

5.2 Sales Strategy

The sales strategy of the Last Frontier Market is simple. The key to customer satisfaction is a community-friendly store that is easy to navigate and has knowledgeable people to help customers find what they want quickly.  Customers will linger in the store, reading notices on the community bulletin board or speaking with friends.

5.2.1 Sales Forecast

The following is the Last Frontier Market’s sales forecast for three years.

Organic food store business plan, strategy and implementation summary chart image

Organic food store business plan, strategy and implementation summary chart image

Sales Forecast
Year 1 Year 2 Year 3
Sales
Sales $423,000 $470,000 $520,000
Others $0 $0 $0
Total Sales $423,000 $470,000 $520,000
Direct Cost of Sales Year 1 Year 2 Year 3
Sales $128,220 $150,000 $175,000
Others $0 $0 $0
Subtotal Direct Cost of Sales $128,220 $150,000 $175,000

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Management Summary

Co-owners, Josh Wingard and Mary Stevens, have fifteen years of experience working in natural food stores.

Mary Stevens was one of the founding members of the Mason Peak Natural Grocery, 4th and Tyler.  The grocery was established in 1992 by the non-profit NEDCO, the Neighborhood Economic Development Corporation, and a number of concerned neighbors who wished to save the historic Mason Peak Market from destruction.  Mary started as a cashier and advanced to the position of store manager in 1996.  The grocery has grown into a community fixture under her management.

Josh Wingard ran the university’s now defunct Natural Food Collective for three years before the program was defunded.  The small on-campus store provide natural food products to student customers.  Sales increased by 20% each year under his leadership.  Unfortunately, the state budget shortfall impacted the continued funding of the program.  Prior to this position, Josh worked at Sunburst Natural Foods for four years.  His principle responsibilities were product ordering and stocking. 

6.1 Management Team

Josh Wingard and Mary Stevens were be the management team for the Last Frontier Market.  Mary will be responsible for staffing and daily operations.  Josh will be responsible for product ordering, stocking and bookkeeping.

6.2 Personnel Plan

Besides Josh Wingard and Mary Stevens, the last Frontier Market will have a staff of five:

  • Three cashiers.
  • Two produce staff.
Personnel Plan
Year 1 Year 2 Year 3
Mary Stevens $33,600 $36,000 $39,000
Josh Wingard $33,600 $36,000 $39,000
Cashiers $84,000 $95,000 $104,000
Produce Staff $48,000 $51,000 $54,000
Total People 7 7 7
Total Payroll $199,200 $218,000 $236,000

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Financial Plan

The following is the Financial Plan for the Last Frontier Market.

7.1 Break-even Analysis

The monthly break-even point is $32,277.

Organic food store business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $32,277
Assumptions:
Average Percent Variable Cost 30%
Estimated Monthly Fixed Cost $22,493

7.2 Projected Profit and Loss

The following table and charts highlight the projected profit and loss for three years.

Organic food store business plan, financial plan chart image

Organic food store business plan, financial plan chart image

Organic food store business plan, financial plan chart image

Organic food store business plan, financial plan chart image

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $423,000 $470,000 $520,000
Direct Cost of Sales $128,220 $150,000 $175,000
Other Production Expenses $0 $0 $0
Total Cost of Sales $128,220 $150,000 $175,000
Gross Margin $294,780 $320,000 $345,000
Gross Margin % 69.69% 68.09% 66.35%
Expenses
Payroll $199,200 $218,000 $236,000
Sales and Marketing and Other Expenses $7,000 $10,000 $13,000
Depreciation $1,440 $1,440 $1,440
Leased Equipment $0 $0 $0
Utilities $4,800 $4,800 $4,800
Insurance $6,000 $6,000 $6,000
Rent $21,600 $21,600 $21,600
Payroll Taxes $29,880 $32,700 $35,400
Other $0 $0 $0
Total Operating Expenses $269,920 $294,540 $318,240
Profit Before Interest and Taxes $24,860 $25,460 $26,760
EBITDA $26,300 $26,900 $28,200
Interest Expense $4,459 $3,501 $2,501
Taxes Incurred $6,120 $6,588 $7,278
Net Profit $14,281 $15,372 $16,981
Net Profit/Sales 3.38% 3.27% 3.27%

7.3 Projected Cash Flow

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

Organic food store business plan, financial plan chart image

Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $105,750 $117,500 $130,000
Cash from Receivables $251,575 $345,203 $382,237
Subtotal Cash from Operations $357,325 $462,703 $512,237
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 $4,000 $0 $0
Subtotal Cash Received $361,325 $462,703 $512,237
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $199,200 $218,000 $236,000
Bill Payments $186,715 $237,222 $263,081
Subtotal Spent on Operations $385,915 $455,222 $499,081
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 $9,996 $9,996 $9,996
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $395,911 $465,218 $509,077
Net Cash Flow ($34,586) ($2,515) $3,160
Cash Balance $7,614 $5,099 $8,259

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 $7,614 $5,099 $8,259
Accounts Receivable $65,675 $72,972 $80,735
Other Current Assets $0 $0 $0
Total Current Assets $73,289 $78,071 $88,994
Long-term Assets
Long-term Assets $10,000 $10,000 $10,000
Accumulated Depreciation $1,440 $2,880 $4,320
Total Long-term Assets $8,560 $7,120 $5,680
Total Assets $81,849 $85,191 $94,674
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $21,364 $19,331 $21,828
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $21,364 $19,331 $21,828
Long-term Liabilities $40,004 $30,008 $20,012
Total Liabilities $61,368 $49,339 $41,840
Paid-in Capital $84,000 $84,000 $84,000
Retained Earnings ($77,800) ($63,519) ($48,147)
Earnings $14,281 $15,372 $16,981
Total Capital $20,481 $35,853 $52,834
Total Liabilities and Capital $81,849 $85,191 $94,674
Net Worth $20,481 $35,853 $52,834

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% 11.11% 10.64% 4.60%
Percent of Total Assets
Accounts Receivable 80.24% 85.66% 85.28% 33.30%
Other Current Assets 0.00% 0.00% 0.00% 20.90%
Total Current Assets 89.54% 91.64% 94.00% 80.20%
Long-term Assets 10.46% 8.36% 6.00% 19.80%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 26.10% 22.69% 23.06% 45.20%
Long-term Liabilities 48.88% 35.22% 21.14% 10.00%
Total Liabilities 74.98% 57.92% 44.19% 55.20%
Net Worth 25.02% 42.08% 55.81% 44.80%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 69.69% 68.09% 66.35% 44.10%
Selling, General & Administrative Expenses 66.31% 64.81% 63.08% 26.70%
Advertising Expenses 1.65% 2.13% 2.50% 0.70%
Profit Before Interest and Taxes 5.88% 5.42% 5.15% 0.80%
Main Ratios
Current 3.43 4.04 4.08 1.69
Quick 3.43 4.04 4.08 1.01
Total Debt to Total Assets 74.98% 57.92% 44.19% 55.20%
Pre-tax Return on Net Worth 99.61% 61.25% 45.92% 3.60%
Pre-tax Return on Assets 24.93% 25.78% 25.62% 8.00%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 3.38% 3.27% 3.27% n.a
Return on Equity 69.73% 42.87% 32.14% n.a
Activity Ratios
Accounts Receivable Turnover 4.83 4.83 4.83 n.a
Collection Days 57 72 72 n.a
Accounts Payable Turnover 9.74 12.17 12.17 n.a
Payment Days 27 32 28 n.a
Total Asset Turnover 5.17 5.52 5.49 n.a
Debt Ratios
Debt to Net Worth 3.00 1.38 0.79 n.a
Current Liab. to Liab. 0.35 0.39 0.52 n.a
Liquidity Ratios
Net Working Capital $51,925 $58,741 $67,166 n.a
Interest Coverage 5.58 7.27 10.70 n.a
Additional Ratios
Assets to Sales 0.19 0.18 0.18 n.a
Current Debt/Total Assets 26% 23% 23% n.a
Acid Test 0.36 0.26 0.38 n.a
Sales/Net Worth 20.65 13.11 9.84 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
Sales 0% $26,000 $29,000 $30,000 $34,000 $36,000 $38,000 $34,000 $33,000 $35,000 $39,000 $43,000 $46,000
Others 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $26,000 $29,000 $30,000 $34,000 $36,000 $38,000 $34,000 $33,000 $35,000 $39,000 $43,000 $46,000
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
Sales $9,000 $9,500 $9,600 $10,200 $10,500 $11,300 $10,000 $10,000 $11,000 $12,000 $12,120 $13,000
Others $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $9,000 $9,500 $9,600 $10,200 $10,500 $11,300 $10,000 $10,000 $11,000 $12,000 $12,120 $13,000
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
Mary Stevens 0% $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800
Josh Wingard 0% $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800
Cashiers 0% $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000 $7,000
Produce Staff 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
Total People 7 7 7 7 7 7 7 7 7 7 7 7
Total Payroll $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600

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 $26,000 $29,000 $30,000 $34,000 $36,000 $38,000 $34,000 $33,000 $35,000 $39,000 $43,000 $46,000
Direct Cost of Sales $9,000 $9,500 $9,600 $10,200 $10,500 $11,300 $10,000 $10,000 $11,000 $12,000 $12,120 $13,000
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $9,000 $9,500 $9,600 $10,200 $10,500 $11,300 $10,000 $10,000 $11,000 $12,000 $12,120 $13,000
Gross Margin $17,000 $19,500 $20,400 $23,800 $25,500 $26,700 $24,000 $23,000 $24,000 $27,000 $30,880 $33,000
Gross Margin % 65.38% 67.24% 68.00% 70.00% 70.83% 70.26% 70.59% 69.70% 68.57% 69.23% 71.81% 71.74%
Expenses
Payroll $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600
Sales and Marketing and Other Expenses $1,000 $1,000 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Depreciation $120 $120 $120 $120 $120 $120 $120 $120 $120 $120 $120 $120
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400
Insurance $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Rent $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Payroll Taxes 15% $2,490 $2,490 $2,490 $2,490 $2,490 $2,490 $2,490 $2,490 $2,490 $2,490 $2,490 $2,490
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $22,910 $22,910 $22,410 $22,410 $22,410 $22,410 $22,410 $22,410 $22,410 $22,410 $22,410 $22,410
Profit Before Interest and Taxes ($5,910) ($3,410) ($2,010) $1,390 $3,090 $4,290 $1,590 $590 $1,590 $4,590 $8,470 $10,590
EBITDA ($5,790) ($3,290) ($1,890) $1,510 $3,210 $4,410 $1,710 $710 $1,710 $4,710 $8,590 $10,710
Interest Expense $410 $403 $396 $389 $382 $375 $368 $361 $354 $347 $340 $333
Taxes Incurred ($1,896) ($1,144) ($722) $300 $812 $1,174 $367 $69 $371 $1,273 $2,439 $3,077
Net Profit ($4,424) ($2,669) ($1,684) $701 $1,896 $2,740 $855 $160 $865 $2,970 $5,691 $7,180
Net Profit/Sales -17.01% -9.20% -5.61% 2.06% 5.27% 7.21% 2.52% 0.49% 2.47% 7.62% 13.23% 15.61%

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 $6,500 $7,250 $7,500 $8,500 $9,000 $9,500 $8,500 $8,250 $8,750 $9,750 $10,750 $11,500
Cash from Receivables $0 $650 $19,575 $21,775 $22,600 $25,550 $27,050 $28,400 $25,475 $24,800 $26,350 $29,350
Subtotal Cash from Operations $6,500 $7,900 $27,075 $30,275 $31,600 $35,050 $35,550 $36,650 $34,225 $34,550 $37,100 $40,850
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 $4,000 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $6,500 $7,900 $27,075 $30,275 $35,600 $35,050 $35,550 $36,650 $34,225 $34,550 $37,100 $40,850
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 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600 $16,600
Bill Payments $457 $13,745 $14,949 $15,018 $16,606 $17,423 $18,469 $16,414 $16,163 $17,478 $19,353 $20,640
Subtotal Spent on Operations $17,057 $30,345 $31,549 $31,618 $33,206 $34,023 $35,069 $33,014 $32,763 $34,078 $35,953 $37,240
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 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833
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 $17,890 $31,178 $32,382 $32,451 $34,039 $34,856 $35,902 $33,847 $33,596 $34,911 $36,786 $38,073
Net Cash Flow ($11,390) ($23,278) ($5,307) ($2,176) $1,561 $194 ($352) $2,803 $629 ($361) $314 $2,777
Cash Balance $30,810 $7,532 $2,224 $49 $1,609 $1,804 $1,452 $4,254 $4,883 $4,522 $4,836 $7,614
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 $42,200 $30,810 $7,532 $2,224 $49 $1,609 $1,804 $1,452 $4,254 $4,883 $4,522 $4,836 $7,614
Accounts Receivable $0 $19,500 $40,600 $43,525 $47,250 $51,650 $54,600 $53,050 $49,400 $50,175 $54,625 $60,525 $65,675
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $42,200 $50,310 $48,132 $45,749 $47,299 $53,259 $56,404 $54,502 $53,654 $55,058 $59,147 $65,361 $73,289
Long-term Assets
Long-term Assets $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Accumulated Depreciation $0 $120 $240 $360 $480 $600 $720 $840 $960 $1,080 $1,200 $1,320 $1,440
Total Long-term Assets $10,000 $9,880 $9,760 $9,640 $9,520 $9,400 $9,280 $9,160 $9,040 $8,920 $8,800 $8,680 $8,560
Total Assets $52,200 $60,190 $57,892 $55,389 $56,819 $62,659 $65,684 $63,662 $62,694 $63,978 $67,947 $74,041 $81,849
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 $13,247 $14,451 $14,465 $16,027 $16,805 $17,922 $15,877 $15,582 $16,834 $18,666 $19,903 $21,364
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 $13,247 $14,451 $14,465 $16,027 $16,805 $17,922 $15,877 $15,582 $16,834 $18,666 $19,903 $21,364
Long-term Liabilities $50,000 $49,167 $48,334 $47,501 $46,668 $45,835 $45,002 $44,169 $43,336 $42,503 $41,670 $40,837 $40,004
Total Liabilities $50,000 $62,414 $62,785 $61,966 $62,695 $62,640 $62,924 $60,046 $58,918 $59,337 $60,336 $60,740 $61,368
Paid-in Capital $80,000 $80,000 $80,000 $80,000 $80,000 $84,000 $84,000 $84,000 $84,000 $84,000 $84,000 $84,000 $84,000
Retained Earnings ($77,800) ($77,800) ($77,800) ($77,800) ($77,800) ($77,800) ($77,800) ($77,800) ($77,800) ($77,800) ($77,800) ($77,800) ($77,800)
Earnings $0 ($4,424) ($7,093) ($8,777) ($8,076) ($6,180) ($3,440) ($2,585) ($2,424) ($1,559) $1,411 $7,101 $14,281
Total Capital $2,200 ($2,224) ($4,893) ($6,577) ($5,876) $20 $2,760 $3,615 $3,776 $4,641 $7,611 $13,301 $20,481
Total Liabilities and Capital $52,200 $60,190 $57,892 $55,389 $56,819 $62,659 $65,684 $63,662 $62,694 $63,978 $67,947 $74,041 $81,849
Net Worth $2,200 ($2,224) ($4,893) ($6,577) ($5,876) $20 $2,760 $3,615 $3,776 $4,641 $7,611 $13,301 $20,481

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