Westbury Storage, Inc.
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 | |||||||||||||
| Unit Rentals | 0% | $4,750 | $9,500 | $14,250 | $19,000 | $23,750 | $28,500 | $30,875 | $33,250 | $35,625 | $38,000 | $40,375 | $42,750 |
| Admin Fees | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Sales | $4,750 | $9,500 | $14,250 | $19,000 | $23,750 | $28,500 | $30,875 | $33,250 | $35,625 | $38,000 | $40,375 | $42,750 | |
| 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 | |
| Unit Rentals | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Admin Fees | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| 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 | ||
| Manager | 0% | $2,916 | $2,917 | $2,916 | $2,916 | $2,917 | $2,916 | $2,917 | $2,917 | $2,917 | $2,917 | $2,917 | $2,917 |
| Maintenance Man | 0% | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Night Guard | 0% | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
| Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total People | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | |
| Total Payroll | $6,916 | $6,917 | $6,916 | $6,916 | $6,917 | $6,916 | $6,917 | $6,917 | $6,917 | $6,917 | $6,917 | $6,917 | |
| 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 | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | |
| Long-term Interest Rate | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | |
| Tax Rate | 30.00% | 38.00% | 38.00% | 38.00% | 38.00% | 38.00% | 38.00% | 38.00% | 38.00% | 38.00% | 38.00% | 38.00% | |
| 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 | $4,750 | $9,500 | $14,250 | $19,000 | $23,750 | $28,500 | $30,875 | $33,250 | $35,625 | $38,000 | $40,375 | $42,750 | |
| Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross Margin | $4,750 | $9,500 | $14,250 | $19,000 | $23,750 | $28,500 | $30,875 | $33,250 | $35,625 | $38,000 | $40,375 | $42,750 | |
| Gross Margin % | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | |
| Expenses | |||||||||||||
| Payroll | $6,916 | $6,917 | $6,916 | $6,916 | $6,917 | $6,916 | $6,917 | $6,917 | $6,917 | $6,917 | $6,917 | $6,917 | |
| Sales and Marketing and Other Expenses | $4,535 | $4,535 | $4,536 | $4,535 | $4,535 | $4,535 | $4,536 | $4,536 | $4,534 | $4,535 | $4,535 | $4,535 | |
| Depreciation | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | |
| Rent | $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 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | |
| Payroll Taxes | 13% | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Operating Expenses | $14,476 | $14,477 | $14,477 | $14,476 | $14,477 | $14,476 | $14,478 | $14,478 | $14,476 | $14,477 | $14,477 | $14,477 | |
| Profit Before Interest and Taxes | ($9,726) | ($4,977) | ($227) | $4,524 | $9,273 | $14,024 | $16,397 | $18,772 | $21,149 | $23,523 | $25,898 | $28,273 | |
| EBITDA | ($8,476) | ($3,727) | $1,023 | $5,774 | $10,523 | $15,274 | $17,647 | $20,022 | $22,399 | $24,773 | $27,148 | $29,523 | |
| Interest Expense | $4,898 | $4,898 | $4,898 | $4,898 | $4,898 | $4,898 | $4,898 | $4,898 | $4,898 | $4,898 | $4,898 | $4,898 | |
| Taxes Incurred | ($4,387) | ($3,753) | ($1,947) | ($142) | $1,662 | $3,468 | $4,370 | $5,272 | $6,175 | $7,077 | $7,980 | $8,882 | |
| Net Profit | ($10,237) | ($6,123) | ($3,177) | ($232) | $2,712 | $5,658 | $7,129 | $8,602 | $10,076 | $11,547 | $13,020 | $14,492 | |
| Net Profit/Sales | -215.51% | -64.45% | -22.30% | -1.22% | 11.42% | 19.85% | 23.09% | 25.87% | 28.28% | 30.39% | 32.25% | 33.90% | |
| 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 | $4,750 | $9,500 | $14,250 | $19,000 | $23,750 | $28,500 | $30,875 | $33,250 | $35,625 | $38,000 | $40,375 | $42,750 | |
| Subtotal Cash from Operations | $4,750 | $9,500 | $14,250 | $19,000 | $23,750 | $28,500 | $30,875 | $33,250 | $35,625 | $38,000 | $40,375 | $42,750 | |
| 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 | $4,750 | $9,500 | $14,250 | $19,000 | $23,750 | $28,500 | $30,875 | $33,250 | $35,625 | $38,000 | $40,375 | $42,750 | |
| 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 | $6,916 | $6,917 | $6,916 | $6,916 | $6,917 | $6,916 | $6,917 | $6,917 | $6,917 | $6,917 | $6,917 | $6,917 | |
| Bill Payments | $227 | $6,842 | $7,516 | $9,322 | $11,126 | $12,931 | $14,706 | $15,609 | $16,511 | $17,413 | $18,316 | $19,218 | |
| Subtotal Spent on Operations | $7,143 | $13,759 | $14,432 | $16,238 | $18,043 | $19,847 | $21,623 | $22,526 | $23,428 | $24,330 | $25,233 | $26,135 | |
| 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 | $7,143 | $13,759 | $14,432 | $16,238 | $18,043 | $19,847 | $21,623 | $22,526 | $23,428 | $24,330 | $25,233 | $26,135 | |
| Net Cash Flow | ($2,393) | ($4,259) | ($182) | $2,762 | $5,707 | $8,653 | $9,252 | $10,724 | $12,197 | $13,670 | $15,142 | $16,615 | |
| Cash Balance | $15,607 | $11,348 | $11,166 | $13,928 | $19,635 | $28,289 | $37,541 | $48,265 | $60,462 | $74,132 | $89,275 | $105,890 | |
| 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 | $18,000 | $15,607 | $11,348 | $11,166 | $13,928 | $19,635 | $28,289 | $37,541 | $48,265 | $60,462 | $74,132 | $89,275 | $105,890 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $18,000 | $15,607 | $11,348 | $11,166 | $13,928 | $19,635 | $28,289 | $37,541 | $48,265 | $60,462 | $74,132 | $89,275 | $105,890 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $986,748 | $986,748 | $986,748 | $986,748 | $986,748 | $986,748 | $986,748 | $986,748 | $986,748 | $986,748 | $986,748 | $986,748 | $986,748 |
| Accumulated Depreciation | $0 | $1,250 | $2,500 | $3,750 | $5,000 | $6,250 | $7,500 | $8,750 | $10,000 | $11,250 | $12,500 | $13,750 | $15,000 |
| Total Long-term Assets | $986,748 | $985,498 | $984,248 | $982,998 | $981,748 | $980,498 | $979,248 | $977,998 | $976,748 | $975,498 | $974,248 | $972,998 | $971,748 |
| Total Assets | $1,004,748 | $1,001,105 | $995,596 | $994,164 | $995,676 | $1,000,133 | $1,007,537 | $1,015,539 | $1,025,013 | $1,035,960 | $1,048,380 | $1,062,273 | $1,077,638 |
| 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 | $6,593 | $7,207 | $8,953 | $10,697 | $12,442 | $14,187 | $15,059 | $15,932 | $16,803 | $17,676 | $18,548 | $19,421 |
| 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 | $6,593 | $7,207 | $8,953 | $10,697 | $12,442 | $14,187 | $15,059 | $15,932 | $16,803 | $17,676 | $18,548 | $19,421 |
| Long-term Liabilities | $691,487 | $691,487 | $691,487 | $691,487 | $691,487 | $691,487 | $691,487 | $691,487 | $691,487 | $691,487 | $691,487 | $691,487 | $691,487 |
| Total Liabilities | $691,487 | $698,080 | $698,694 | $700,440 | $702,184 | $703,929 | $705,674 | $706,546 | $707,419 | $708,290 | $709,163 | $710,035 | $710,908 |
| Paid-in Capital | $363,000 | $363,000 | $363,000 | $363,000 | $363,000 | $363,000 | $363,000 | $363,000 | $363,000 | $363,000 | $363,000 | $363,000 | $363,000 |
| Retained Earnings | ($49,739) | ($49,739) | ($49,739) | ($49,739) | ($49,739) | ($49,739) | ($49,739) | ($49,739) | ($49,739) | ($49,739) | ($49,739) | ($49,739) | ($49,739) |
| Earnings | $0 | ($10,237) | ($16,359) | ($19,537) | ($19,769) | ($17,056) | ($11,398) | ($4,269) | $4,333 | $14,409 | $25,956 | $38,976 | $53,469 |
| Total Capital | $313,261 | $303,024 | $296,902 | $293,724 | $293,492 | $296,205 | $301,863 | $308,992 | $317,594 | $327,670 | $339,217 | $352,237 | $366,730 |
| Total Liabilities and Capital | $1,004,748 | $1,001,105 | $995,596 | $994,164 | $995,676 | $1,000,133 | $1,007,537 | $1,015,539 | $1,025,013 | $1,035,960 | $1,048,380 | $1,062,273 | $1,077,638 |
| Net Worth | $313,261 | $303,024 | $296,902 | $293,724 | $293,492 | $296,205 | $301,863 | $308,992 | $317,594 | $327,670 | $339,217 | $352,237 | $366,730 |
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