Personal Event Planning Business Plan

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Occasions

Financial Plan

Forecast

Key Assumptions

  • Good social media and positive response. We need advocates in social media. 
  • Consistent posting in Twitter and Facebook
  • No surprises in economic trends
  • Ability to convert some existing relationships into clients
  • Home office works

Revenue by Month

Chart visualizing the data for Revenue by Month

Expenses by Month

Chart visualizing the data for Expenses by Month

Net Profit (or Loss) by Year

Chart visualizing the data for Net Profit (or Loss) by Year

Financing

Use of Funds

Through careful planning on the part of the founders, the start-up costs for Occasions are minimal. It began as a home-based business with little overhead, and it continues to demand fewer outlay of funds as a service-based business. The start-up cost investment funds were assets saved from prior earnings by the owners who did event planning on a part-time basis before establishing themselves as a business.

It is the wish of the founders to remain a debt-free establishment. However, recognizing that in reality not all variables are controllable, outside financing is a viable option. Both founders own homes and have a perfect credit rating.

Legal $200

Stationery etc. $300

Brochures $185

Consultants $200

Insurance $145

Rent $150

Expensed Equipment $1,985

Other $200

TOTAL START-UP EXPENSES $3,365

Sources of Funds

The business owners will contribute 25,000 to cover startup expenses and expansion. 

Statements

Projected Profit & Loss

2019 2020 2021
Gross Margin $284,829 $336,200 $377,200
Operating Expenses
Salaries & Wages $152,600 $209,500 $236,055
Employee Related Expenses $30,520 $41,900 $47,211
Utilities $1,500 $1,500 $1,500
Rent $15,600 $15,600 $15,600
Insurance $3,000 $3,000 $3,000
Startup Costs from Use of Funds $3,365
Sales and Marketing $29,115 $18,000 $21,000
Interest Incurred $1,119 ($1) $0
Depreciation and Amortization
Gain or Loss from Sale of Assets
Income Taxes $12,003 $11,675 $13,208
Total Expenses $311,345 $374,975 $420,374
Net Profit $36,007 $35,025 $39,626

Projected Balance Sheet

Starting Balances 2019 2020 2021
Cash $31,196 $67,571 $53,739
Accounts Receivable $51,469 $42,440 $47,680
Inventory
Other Current Assets
Total Current Assets $82,665 $110,011 $101,419
Long-Term Assets
Accumulated Depreciation
Total Long-Term Assets
Accounts Payable $8,508 $7,460 $8,260
Income Taxes Payable $8,982 $2,919 $3,301
Sales Taxes Payable $4,168 $3,600 $4,200
Short-Term Debt $0 $0 ($1) ($1)
Prepaid Revenue
Total Current Liabilities $0 $21,658 $13,979 $15,760
Long-Term Debt
Long-Term Liabilities
Paid-In Capital $25,000 $25,000 $25,000
Retained Earnings $0 $0 $36,007 $21,032
Earnings $36,007 $35,025 $39,626

Projected Cash Flow Statement

2019 2020 2021
Net Cash Flow from Operations
Net Profit $36,007 $35,025 $39,626
Depreciation & Amortization
Change in Accounts Receivable ($51,469) $9,029 ($5,240)
Change in Inventory
Change in Accounts Payable $8,508 ($1,048) $800
Change in Income Tax Payable $8,982 ($6,063) $382
Change in Sales Tax Payable $4,168 ($568) $600
Change in Prepaid Revenue
Investing & Financing
Assets Purchased or Sold
Investments Received $25,000
Dividends & Distributions ($50,000)
Change in Short-Term Debt $0 $0 $0
Change in Long-Term Debt
Cash at Beginning of Period $0 $31,196 $67,571
Net Change in Cash $31,196 $36,375 ($13,832)
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