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Retail Hardware Store Business Plan

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Clara's Hardware Store

Financial Plan

Forecast

Key Assumptions

Our key assumptions: 

  • Our customers appreciate better lighting and brighter colors
  • If they feel welcome they customers will return 
  • Customers have DIY projects and well trained agents can help 

 

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

Our startup Expenses are: 

Display Set-Up $5,000

Cash Reserve for Hiring $20,000

Start Up Inventory : $6,000

Rent: $3,000

Legal: $1,000

The total is: $35000

 

There will be an additional $45,000 of machinery and tools to keep the hardware store well stocked and help our customers 

Sources of Funds

We will have $80,000 dollars from our founder Clara Johnson 

Statements

Projected Profit & Loss

2018 2019 2020
Gross Margin $481,200 $513,000 $537,600
Operating Expenses
Salaries & Wages $211,200 $215,424 $342,081
Employee Related Expenses $42,240 $43,085 $68,416
Rent $36,000 $36,000 $36,000
Marketing $24,060 $25,650 $26,880
Utilities $7,200 $7,200 $7,200
Interest Incurred $1,216 $50 $51
Depreciation and Amortization $1,875 $1,875 $1,875
Gain or Loss from Sale of Assets
Income Taxes $23,611 $27,558 $8,264
Total Expenses $668,202 $698,841 $849,168
Net Profit $133,798 $156,159 $46,832

Projected Balance Sheet

Starting Balances 2018 2019 2020
Cash $40,000 $78,818 $249,368 $289,738
Accounts Receivable $109,652 $88,279 $92,512
Inventory $57,000 $59,733 $59,734
Other Current Assets
Total Current Assets $40,000 $245,470 $397,380 $441,983
Long-Term Assets $15,000 $15,000 $15,000 $15,000
Accumulated Depreciation ($1,875) ($3,750) ($5,625)
Total Long-Term Assets $15,000 $13,125 $11,250 $9,375
Accounts Payable $10,000 $53,523 $54,830 $54,988
Income Taxes Payable $11,658 $6,890 $2,064
Sales Taxes Payable $13,400 $10,687 $11,200
Short-Term Debt $1,216 $1,266 $1,317
Prepaid Revenue
Total Current Liabilities $10,000 $79,797 $73,673 $69,570
Long-Term Debt
Long-Term Liabilities
Paid-In Capital $80,000 $80,000 $80,000 $80,000
Retained Earnings ($35,000) ($35,000) $98,798 $254,957
Earnings $133,798 $156,159 $46,832

Projected Cash Flow Statement

2018 2019 2020
Net Cash Flow from Operations
Net Profit $133,798 $156,159 $46,832
Depreciation & Amortization $1,875 $1,875 $1,875
Change in Accounts Receivable ($109,652) $21,373 ($4,233)
Change in Inventory ($57,000) ($2,733) $0
Change in Accounts Payable $43,523 $1,308 $158
Change in Income Tax Payable $11,658 ($4,768) ($4,826)
Change in Sales Tax Payable $13,400 ($2,713) $513
Change in Prepaid Revenue
Investing & Financing
Assets Purchased or Sold
Investments Received
Dividends & Distributions
Change in Short-Term Debt $1,216 $50 $52
Change in Long-Term Debt
Cash at Beginning of Period $40,000 $78,818 $249,368
Net Change in Cash $38,818 $170,549 $40,370

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