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Reed Properties

Executive Summary

While many people hope one day to purchase their own home, cultural barriers and shortages in affordable housing are just two of the issues that can prevent these dreams from materializing. Reed Properties is working to keep these dreams alive. This new real estate brokerage will not only define success by the number of units closed and sales volume but also by whether people were helped in the process.

Claudia Reed, owner of Reed Properties, is a professional with over 15 years experience in the Richmond Metro area. 

A recent Census Bureau report on the economic status of the nation’s minority groups should noted that all segments surveyed–African American, Hispanic, and Asian-Pacific–registered significant growth in average family income during the past two years. In addition, Fannie Mae, the secondary market mortgage giant, reports that the number of immigrant homeowners, which grew 47 percent between 1980 and 1995, is expected to grow another 45 percent to 6.8 million people over the next ten years. A recent Fannie Mae survey found that immigrants who rent are three times more likely than all other adult renters to consider home buying their # 1 priority. On the whole, immigrants are more likely than any other adult demographic group to buy a home in the next three years.

In Richmond, the Latino community has grown tremendously, but have not been targeted by the city’s real estate professionals. Latino immigrants from 25 to 34 years old made up 27% of new entrants to Richmond’s housing market two years ago. Targeting Latino home buyers is good business. Latinos are expected to make up half of the metro population in 20 years–making them the fastest-growing segment of the city’s housing market.

As the Richmond Metro section revives, Reed Properties will be a major player serving this emerging group of homeowners.

Claudia Reed will offer educational programs, credit repair initiatives and HUD counseling. In addition, she will also host her own radio talk show, “Your New Home,” which focuses on promoting affordable housing.

Currently, there are three low-income housing renovation projects underway in Richmond with a combined total of 1,500 units that will be sold as affordable housing.  Claudia was instrumental in helping community organizations in winning the ten million dollar grant for the renovation projects.

1.1 Objectives

  • Open the door of home ownership to residents of the Richmond Metro area.
  • Build a business that demonstrates that a real estate brokerage can thrive serving the residents of the intercity.
  • Capture a significant market share of the new business being generated by the current and future renovation and building projects.

1.2 Mission

The mission of Reed Properties is to increase minority homeownership in the Richmond Metro area. 

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Company Summary

Reed properties is a single-agent real estate brokerage that will serve the Richmond Metro area.

2.1 Company Ownership

Reed Properties is owned by Claudia Reed.

2.2 Start-up Summary

The start-up costs are outlined in the following chart. Start-up costs derive from office equipment, computer station complete with software, stationery, legal costs, furnishings, office advertising and services, and expenses associated with opening our office. The start-up costs are to be financed by direct owner investment. The assumptions are shown in the following table and chart. Lease office space averages $1.10-1.60 per square foot to equal an approximate of $1,500 per month, plus utilities, for efficient leased office space. Commercial lease will be for a three to five year agreement with the first month and a security deposit equal to the monthly lease rate payable at the time of lease start date.

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Start-up Funding
Start-up Expenses to Fund $15,050
Start-up Assets to Fund $9,950
Total Funding Required $25,000
Assets
Non-cash Assets from Start-up $0
Cash Requirements from Start-up $9,950
Additional Cash Raised $0
Cash Balance on Starting Date $9,950
Total Assets $9,950
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Capital
Planned Investment
Claudia Reed $25,000
Investor 2 $0
Other $0
Additional Investment Requirement $0
Total Planned Investment $25,000
Loss at Start-up (Start-up Expenses) ($15,050)
Total Capital $9,950
Total Capital and Liabilities $9,950
Total Funding $25,000
Start-up
Requirements
Start-up Expenses
Legal $900
Stationery etc. $500
Brochures $1,000
Advertising $2,500
Insurance $200
Rent $3,000
Answering Service $200
Utilities Start Up $250
Office Furnishings $1,000
Expensed Equipment $3,000
Business Software $2,000
Office Supplies $500
Other $0
Total Start-up Expenses $15,050
Start-up Assets
Cash Required $9,950
Other Current Assets $0
Long-term Assets $0
Total Assets $9,950
Total Requirements $25,000

2.3 Company Locations and Facilities

Reed Properties will be located downtown in the new Richmond Bank Building.

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Services

Reed Properties will break through the barriers that impede homeownership for those who wish to realize the American Dream.  Reed Properties will launch several programs to help residents purchase the homes, working with the community, residents, local banks and contractors to get special financing and prices on all the necessary home buying services. Claudia will work with residents to find special financing for these first-time home buyers.

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Market Analysis Summary

It is estimated that the Richmond Metro area will need 10,000 units of affordable housing in the next seven years.  Currently, there are three renovation projects that represent 1,500 new housing units.  Next year, two new construction projects will be completed offering another 1,000 units of affordable housing.  Another 1,000 unit project, to be located in the Garden Meadows section downtown, is currently in the planning stages. 

This is part of a larger urban development program to attract businesses and money back into the city center. By focusing on the first-time inner-city home buyer, Reed Properties can become an important partner in the revitalization of the Metro area.

4.1 Target Market Segment Strategy

Reed Properties cannot survive waiting for customers to come in. Instead, Claudia must focus on targeted segments as the key to its future.

Claudia will offer educational programs, credit repair initiatives and HUD counseling. In addition, she will also host her own radio talk show, “Your New Home,” which focuses on promoting affordable housing.

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Strategy and Implementation Summary

Reed Properties will focus on the first-time home buyers who live in the Richmond Metro area.

5.1 Competitive Edge

Reed Properties’ competitive edge is Claudia who will be the most visible realtor to first-time home buyers in the Richmond Metro area. Claudia will have a weekly radio program and lecture weekly to the area’s numerous neighborhood councils and civic groups. 

Most importantly, Claudia has contacts in the local civic groups that are driving the redevelopment of the Richmond Metro area.  Referrals from these contacts alone will create all the leads Claudia needs to succeed.

5.2 Marketing Strategy

Traditional marketing techniques will not work with the residents of the Richmond Metro area. Cultural and language barriers create suspicions of a home-buying process that is confusing and inaccessible. Building relationships with the community is a crucial first step in reducing anxiety in the home-buying process. Reed Properties will build relationships that will lead to referrals and business success.

5.3 Sales Forecast

The following table and chart give a run-down on forecasted sales. We expect sales to build between January-March with the most growth during the months of March through August. We expect sales to drop off from September till the end of the year.

Real estate broker business plan, strategy and implementation summary chart image

Sales Forecast
Year 1 Year 2 Year 3
Sales
New homebuyers $83,000 $90,000 $100,000
Other homebuyers $0 $40,000 $60,000
Total Sales $83,000 $130,000 $160,000
Direct Cost of Sales Year 1 Year 2 Year 3
New homebuyers $4,150 $4,500 $5,000
Other homebuyers $0 $2,000 $3,000
Subtotal Direct Cost of Sales $4,150 $6,500 $8,000

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Personnel Plan

Claudia Reed is the sole employee of Reed Properties.

Personnel Plan
Year 1 Year 2 Year 3
Claudia Reed $48,000 $50,000 $55,000
Part Time Admin $0 $10,000 $14,000
Total People 1 1 1
Total Payroll $48,000 $60,000 $69,000

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Financial Plan

  • Reed Properties wants to finance growth mainly through cash flow.
  • The most important factor is closing sales days. These dates will be determined ultimately by the seller and the buyer and a move out/move in schedule will be complied with.

7.1 Important Assumptions

The financial plan depends on important assumptions, most of which are shown in the following table as annual assumptions. The monthly assumptions are included in the appendix. From the beginning, we recognize that collection days are critical, but not a factor we can influence easily. Interest rates, tax rates, and personnel burden are based on conservative assumptions. Some of the more important underlying assumptions are:

  • We assume a strong economy, without major recession.
  • We assume that there are no unforeseen changes in the economy that would change our estimations.
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 30.00% 30.00% 30.00%
Other 0 0 0

7.2 Break-even Analysis

The following table and chart will summarize our break-even analysis.

Real estate broker business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $7,316
Assumptions:
Average Percent Variable Cost 5%
Estimated Monthly Fixed Cost $6,950

7.3 Projected Profit and Loss

The projected three year profit and loss is shown on the following table and chart.

Real estate broker business plan, financial plan chart image

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $83,000 $130,000 $160,000
Direct Cost of Sales $4,150 $6,500 $8,000
Other Production Expenses $0 $0 $0
Total Cost of Sales $4,150 $6,500 $8,000
Gross Margin $78,850 $123,500 $152,000
Gross Margin % 95.00% 95.00% 95.00%
Expenses
Payroll $48,000 $60,000 $69,000
Sales and Marketing and Other Expenses $6,900 $8,100 $11,300
Depreciation $0 $0 $0
Leased Equipment $0 $0 $0
Utilities $3,000 $3,000 $3,000
Insurance $300 $300 $300
Rent $18,000 $18,000 $18,000
Payroll Taxes $7,200 $9,000 $10,350
Other $0 $0 $0
Total Operating Expenses $83,400 $98,400 $111,950
Profit Before Interest and Taxes ($4,550) $25,100 $40,050
EBITDA ($4,550) $25,100 $40,050
Interest Expense $0 $0 $0
Taxes Incurred $0 $7,530 $12,015
Net Profit ($4,550) $17,570 $28,035
Net Profit/Sales -5.48% 13.52% 17.52%

7.4 Projected Cash Flow

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

Real estate broker business plan, financial plan chart image

Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $20,750 $32,500 $40,000
Cash from Receivables $56,350 $94,159 $117,867
Subtotal Cash from Operations $77,100 $126,659 $157,867
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 $6,000 $0 $0
Subtotal Cash Received $83,100 $126,659 $157,867
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $48,000 $60,000 $69,000
Bill Payments $36,529 $51,142 $62,099
Subtotal Spent on Operations $84,529 $111,142 $131,099
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 $0 $0 $0
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $84,529 $111,142 $131,099
Net Cash Flow ($1,429) $15,518 $26,768
Cash Balance $8,521 $24,038 $50,807

7.5 Projected Balance Sheet

The following table is the projected balance sheet for three years.

Pro Forma Balance Sheet
Year 1 Year 2 Year 3
Assets
Current Assets
Cash $8,521 $24,038 $50,807
Accounts Receivable $5,900 $9,241 $11,373
Other Current Assets $0 $0 $0
Total Current Assets $14,421 $33,279 $62,180
Long-term Assets
Long-term Assets $0 $0 $0
Accumulated Depreciation $0 $0 $0
Total Long-term Assets $0 $0 $0
Total Assets $14,421 $33,279 $62,180
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $3,021 $4,309 $5,175
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $3,021 $4,309 $5,175
Long-term Liabilities $0 $0 $0
Total Liabilities $3,021 $4,309 $5,175
Paid-in Capital $31,000 $31,000 $31,000
Retained Earnings ($15,050) ($19,600) ($2,030)
Earnings ($4,550) $17,570 $28,035
Total Capital $11,400 $28,970 $57,005
Total Liabilities and Capital $14,421 $33,279 $62,180
Net Worth $11,400 $28,970 $57,005

7.6 Business Ratios

The following table provides important ratios for the real estate industry, as determined by the Standard Industry Classification (SIC) Index, 6531, Real Estate Agent and Managers.

Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth 0.00% 56.63% 23.08% 3.60%
Percent of Total Assets
Accounts Receivable 40.91% 27.77% 18.29% 6.90%
Other Current Assets 0.00% 0.00% 0.00% 49.90%
Total Current Assets 100.00% 100.00% 100.00% 57.30%
Long-term Assets 0.00% 0.00% 0.00% 42.70%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 20.95% 12.95% 8.32% 28.50%
Long-term Liabilities 0.00% 0.00% 0.00% 27.20%
Total Liabilities 20.95% 12.95% 8.32% 55.70%
Net Worth 79.05% 87.05% 91.68% 44.30%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 95.00% 95.00% 95.00% 100.00%
Selling, General & Administrative Expenses 100.48% 81.48% 77.48% 67.40%
Advertising Expenses 7.23% 5.38% 6.25% 3.60%
Profit Before Interest and Taxes -5.48% 19.31% 25.03% 3.90%
Main Ratios
Current 4.77 7.72 12.02 1.87
Quick 4.77 7.72 12.02 1.11
Total Debt to Total Assets 20.95% 12.95% 8.32% 55.70%
Pre-tax Return on Net Worth -39.91% 86.64% 70.26% 1.70%
Pre-tax Return on Assets -31.55% 75.42% 64.41% 3.80%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin -5.48% 13.52% 17.52% n.a
Return on Equity -39.91% 60.65% 49.18% n.a
Activity Ratios
Accounts Receivable Turnover 10.55 10.55 10.55 n.a
Collection Days 58 28 31 n.a
Accounts Payable Turnover 13.09 12.17 12.17 n.a
Payment Days 27 26 27 n.a
Total Asset Turnover 5.76 3.91 2.57 n.a
Debt Ratios
Debt to Net Worth 0.26 0.15 0.09 n.a
Current Liab. to Liab. 1.00 1.00 1.00 n.a
Liquidity Ratios
Net Working Capital $11,400 $28,970 $57,005 n.a
Interest Coverage 0.00 0.00 0.00 n.a
Additional Ratios
Assets to Sales 0.17 0.26 0.39 n.a
Current Debt/Total Assets 21% 13% 8% n.a
Acid Test 2.82 5.58 9.82 n.a
Sales/Net Worth 7.28 4.49 2.81 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
New homebuyers 0% $4,000 $5,000 $6,000 $7,000 $8,000 $10,000 $11,000 $12,000 $7,000 $5,000 $4,000 $4,000
Other homebuyers 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $4,000 $5,000 $6,000 $7,000 $8,000 $10,000 $11,000 $12,000 $7,000 $5,000 $4,000 $4,000
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
New homebuyers $200 $250 $300 $350 $400 $500 $550 $600 $350 $250 $200 $200
Other homebuyers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $200 $250 $300 $350 $400 $500 $550 $600 $350 $250 $200 $200
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
Claudia Reed 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
Part Time Admin 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 1 1 1 1 1 1 1 1 1 1 1 1
Total Payroll $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000

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 $4,000 $5,000 $6,000 $7,000 $8,000 $10,000 $11,000 $12,000 $7,000 $5,000 $4,000 $4,000
Direct Cost of Sales $200 $250 $300 $350 $400 $500 $550 $600 $350 $250 $200 $200
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $200 $250 $300 $350 $400 $500 $550 $600 $350 $250 $200 $200
Gross Margin $3,800 $4,750 $5,700 $6,650 $7,600 $9,500 $10,450 $11,400 $6,650 $4,750 $3,800 $3,800
Gross Margin % 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00%
Expenses
Payroll $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Sales and Marketing and Other Expenses $575 $575 $575 $575 $575 $575 $575 $575 $575 $575 $575 $575
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250
Insurance $300 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Rent $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Payroll Taxes 15% $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $7,225 $6,925 $6,925 $6,925 $6,925 $6,925 $6,925 $6,925 $6,925 $6,925 $6,925 $6,925
Profit Before Interest and Taxes ($3,425) ($2,175) ($1,225) ($275) $675 $2,575 $3,525 $4,475 ($275) ($2,175) ($3,125) ($3,125)
EBITDA ($3,425) ($2,175) ($1,225) ($275) $675 $2,575 $3,525 $4,475 ($275) ($2,175) ($3,125) ($3,125)
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($3,425) ($2,175) ($1,225) ($275) $675 $2,575 $3,525 $4,475 ($275) ($2,175) ($3,125) ($3,125)
Net Profit/Sales -85.63% -43.50% -20.42% -3.93% 8.44% 25.75% 32.05% 37.29% -3.93% -43.50% -78.13% -78.13%

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 $1,000 $1,250 $1,500 $1,750 $2,000 $2,500 $2,750 $3,000 $1,750 $1,250 $1,000 $1,000
Cash from Receivables $0 $100 $3,025 $3,775 $4,525 $5,275 $6,050 $7,525 $8,275 $8,875 $5,200 $3,725
Subtotal Cash from Operations $1,000 $1,350 $4,525 $5,525 $6,525 $7,775 $8,800 $10,525 $10,025 $10,125 $6,200 $4,725
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 $6,000 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $1,000 $1,350 $10,525 $5,525 $6,525 $7,775 $8,800 $10,525 $10,025 $10,125 $6,200 $4,725
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 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000
Bill Payments $114 $3,417 $3,177 $3,227 $3,277 $3,328 $3,427 $3,477 $3,517 $3,272 $3,173 $3,125
Subtotal Spent on Operations $4,114 $7,417 $7,177 $7,227 $7,277 $7,328 $7,427 $7,477 $7,517 $7,272 $7,173 $7,125
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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
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 $4,114 $7,417 $7,177 $7,227 $7,277 $7,328 $7,427 $7,477 $7,517 $7,272 $7,173 $7,125
Net Cash Flow ($3,114) ($6,067) $3,348 ($1,702) ($752) $447 $1,373 $3,048 $2,508 $2,853 ($973) ($2,400)
Cash Balance $6,836 $769 $4,118 $2,416 $1,664 $2,111 $3,484 $6,533 $9,041 $11,894 $10,921 $8,521
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 $9,950 $6,836 $769 $4,118 $2,416 $1,664 $2,111 $3,484 $6,533 $9,041 $11,894 $10,921 $8,521
Accounts Receivable $0 $3,000 $6,650 $8,125 $9,600 $11,075 $13,300 $15,500 $16,975 $13,950 $8,825 $6,625 $5,900
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $9,950 $9,836 $7,419 $12,243 $12,016 $12,739 $15,411 $18,984 $23,508 $22,991 $20,719 $17,546 $14,421
Long-term Assets
Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Accumulated Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Assets $9,950 $9,836 $7,419 $12,243 $12,016 $12,739 $15,411 $18,984 $23,508 $22,991 $20,719 $17,546 $14,421
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 $3,311 $3,069 $3,118 $3,166 $3,214 $3,311 $3,359 $3,408 $3,166 $3,069 $3,021 $3,021
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 $3,311 $3,069 $3,118 $3,166 $3,214 $3,311 $3,359 $3,408 $3,166 $3,069 $3,021 $3,021
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $3,311 $3,069 $3,118 $3,166 $3,214 $3,311 $3,359 $3,408 $3,166 $3,069 $3,021 $3,021
Paid-in Capital $25,000 $25,000 $25,000 $31,000 $31,000 $31,000 $31,000 $31,000 $31,000 $31,000 $31,000 $31,000 $31,000
Retained Earnings ($15,050) ($15,050) ($15,050) ($15,050) ($15,050) ($15,050) ($15,050) ($15,050) ($15,050) ($15,050) ($15,050) ($15,050) ($15,050)
Earnings $0 ($3,425) ($5,600) ($6,825) ($7,100) ($6,425) ($3,850) ($325) $4,150 $3,875 $1,700 ($1,425) ($4,550)
Total Capital $9,950 $6,525 $4,350 $9,125 $8,850 $9,525 $12,100 $15,625 $20,100 $19,825 $17,650 $14,525 $11,400
Total Liabilities and Capital $9,950 $9,836 $7,419 $12,243 $12,016 $12,739 $15,411 $18,984 $23,508 $22,991 $20,719 $17,546 $14,421
Net Worth $9,950 $6,525 $4,350 $9,125 $8,850 $9,525 $12,100 $15,625 $20,100 $19,825 $17,650 $14,525 $11,400

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