Double Decker Tours of Washington
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 | |||||||||||||
| Sightseeing | 0% | $1,512,000 | $1,512,000 | $2,268,000 | $1,512,000 | $1,008,000 | $756,000 | $756,000 | $756,000 | $756,000 | $1,008,000 | $1,008,000 | $1,516,000 |
| Photographs | 0% | $16,967 | $33,933 | $33,933 | $33,933 | $33,933 | $16,967 | $16,967 | $16,967 | $16,967 | $33,933 | $33,933 | $33,933 |
| Charters | 0% | $5,000 | $5,000 | $7,000 | $7,000 | $7,000 | $4,000 | $3,500 | $3,500 | $5,000 | $7,500 | $9,000 | $12,000 |
| Total Sales | $1,533,967 | $1,550,933 | $2,308,933 | $1,552,933 | $1,048,933 | $776,967 | $776,467 | $776,467 | $777,967 | $1,049,433 | $1,050,933 | $1,561,933 | |
| 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 | |
| Photo processing & Internet connection | $3,000 | $4,500 | $4,500 | $4,500 | $4,150 | $3,800 | $3,606 | $3,574 | $3,000 | $3,500 | $4,000 | $4,500 | |
| Fuel | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Subtotal Direct Cost of Sales | $11,000 | $12,500 | $12,500 | $12,500 | $12,150 | $11,800 | $11,606 | $11,574 | $11,000 | $11,500 | $12,000 | $12,500 | |
| 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 | ||
| Member Manager | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | |
| Member Business Development | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | $4,167 | |
| Driver/Guides | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | |
| Marketing/Sales Associates | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | $8,333 | |
| Courtesy Captains | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Total People | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | |
| Total Payroll | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | |
| 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 | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | |
| 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 | 24.00% | 24.00% | 24.00% | 24.00% | 24.00% | 24.00% | 24.00% | 24.00% | 24.00% | 24.00% | 24.00% | 24.00% | |
| 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 | $1,533,967 | $1,550,933 | $2,308,933 | $1,552,933 | $1,048,933 | $776,967 | $776,467 | $776,467 | $777,967 | $1,049,433 | $1,050,933 | $1,561,933 | |
| Direct Cost of Sales | $11,000 | $12,500 | $12,500 | $12,500 | $12,150 | $11,800 | $11,606 | $11,574 | $11,000 | $11,500 | $12,000 | $12,500 | |
| Other Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Cost of Sales | $11,000 | $12,500 | $12,500 | $12,500 | $12,150 | $11,800 | $11,606 | $11,574 | $11,000 | $11,500 | $12,000 | $12,500 | |
| Gross Margin | $1,522,967 | $1,538,433 | $2,296,433 | $1,540,433 | $1,036,783 | $765,167 | $764,861 | $764,893 | $766,967 | $1,037,933 | $1,038,933 | $1,549,433 | |
| Gross Margin % | 99.28% | 99.19% | 99.46% | 99.20% | 98.84% | 98.48% | 98.51% | 98.51% | 98.59% | 98.90% | 98.86% | 99.20% | |
| Expenses | |||||||||||||
| Payroll | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | |
| Sales and Marketing and Other Expenses | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | |
| Depreciation | $5,091 | $5,091 | $5,091 | $5,091 | $5,091 | $5,091 | $5,091 | $5,091 | $5,091 | $5,091 | $5,091 | $5,091 | |
| Rent | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | |
| Utilities | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | |
| Insurance | $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% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Local Taxes | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
| Bus Maintenance | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | |
| Bookkeeping/Payroll | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | |
| Professional Asst. | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
| Telephones and Nextels | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | |
| Office Supplies | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | |
| Brochures | $350 | $350 | $350 | $350 | $350 | $350 | $350 | $350 | $350 | $350 | $350 | $350 | |
| Licenses/Permits | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | |
| Website Maintenance | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | |
| Miscellaneous | 15% | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 |
| Uniforms | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
| Total Operating Expenses | $110,741 | $110,741 | $110,741 | $110,741 | $110,741 | $110,741 | $110,741 | $110,741 | $110,741 | $110,741 | $110,741 | $110,741 | |
| Profit Before Interest and Taxes | $1,405,559 | $1,342,574 | $2,059,388 | $1,344,660 | $868,539 | $611,815 | $611,626 | $611,757 | $613,821 | $870,132 | $871,181 | $1,353,982 | |
| EBITDA | $1,410,650 | $1,347,665 | $2,064,479 | $1,349,751 | $873,630 | $616,906 | $616,717 | $616,848 | $618,911 | $875,223 | $876,272 | $1,359,073 | |
| Interest Expense | $6,581 | $6,494 | $6,406 | $6,318 | $6,229 | $6,139 | $6,049 | $5,958 | $5,866 | $5,773 | $5,679 | $5,585 | |
| Taxes Incurred | $335,755 | $320,659 | $492,716 | $321,202 | $206,954 | $145,362 | $145,339 | $145,392 | $145,909 | $207,446 | $207,720 | $323,615 | |
| Other Income | |||||||||||||
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other Income Account Name | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total Other Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other Expense | |||||||||||||
| Interest Expense | $6,667 | $6,581 | $6,494 | $6,406 | $6,318 | $6,229 | $6,139 | $6,049 | $5,958 | $5,866 | $5,773 | $5,679 | |
| Profit tax | $0 | $82,181 | $78,538 | $119,810 | $78,626 | $51,185 | $36,382 | $36,355 | $36,346 | $36,448 | $51,195 | $51,238 | $79,031 |
| Total Other Expense | $6,667 | $85,118 | $126,304 | $85,032 | $57,503 | $42,611 | $42,494 | $42,395 | $42,406 | $57,060 | $57,011 | $84,710 | |
| Net Other Income | ($6,667) | ($85,118) | ($126,304) | ($85,032) | ($57,503) | ($42,611) | ($42,494) | ($42,395) | ($42,406) | ($57,060) | ($57,011) | ($84,710) | |
| Net Profit | $1,063,224 | $1,015,421 | $1,560,266 | $1,017,140 | $655,355 | $460,314 | $460,239 | $460,408 | $462,046 | $656,913 | $657,781 | $1,024,782 | |
| Net Profit/Sales | 69.31% | 65.47% | 67.58% | 65.50% | 62.48% | 59.24% | 59.27% | 59.30% | 59.39% | 62.60% | 62.59% | 65.61% | |
| 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 | $1,533,967 | $1,550,933 | $2,308,933 | $1,552,933 | $1,048,933 | $776,967 | $776,467 | $776,467 | $777,967 | $1,049,433 | $1,050,933 | $1,561,933 | |
| Subtotal Cash from Operations | $1,533,967 | $1,550,933 | $2,308,933 | $1,552,933 | $1,048,933 | $776,967 | $776,467 | $776,467 | $777,967 | $1,049,433 | $1,050,933 | $1,561,933 | |
| Additional Cash Received | |||||||||||||
| Non Operating (Other) Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| 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 | $1,533,967 | $1,550,933 | $2,308,933 | $1,552,933 | $1,048,933 | $776,967 | $776,467 | $776,467 | $777,967 | $1,049,433 | $1,050,933 | $1,561,933 | |
| 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 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | $62,500 | |
| Bill Payments | $13,216 | $396,029 | $388,535 | $549,052 | $379,347 | $266,416 | $206,441 | $206,141 | $206,069 | $207,990 | $267,892 | $272,426 | |
| Subtotal Spent on Operations | $75,716 | $458,529 | $451,035 | $611,552 | $441,847 | $328,916 | $268,941 | $268,641 | $268,569 | $270,490 | $330,392 | $334,926 | |
| Additional Cash Spent | |||||||||||||
| Non Operating (Other) Expense | $6,667 | $85,118 | $126,304 | $85,032 | $57,503 | $42,611 | $42,494 | $42,395 | $42,406 | $57,060 | $57,011 | $84,710 | |
| 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 | $10,331 | $10,417 | $10,504 | $10,591 | $10,680 | $10,769 | $10,858 | $10,949 | $11,040 | $11,132 | $11,225 | $11,318 | |
| 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 | $92,714 | $554,065 | $587,843 | $707,175 | $510,030 | $382,295 | $322,294 | $321,985 | $322,015 | $338,682 | $398,628 | $430,955 | |
| Net Cash Flow | $1,441,253 | $996,868 | $1,721,090 | $845,758 | $538,903 | $394,672 | $454,173 | $454,482 | $455,952 | $710,751 | $652,305 | $1,130,978 | |
| Cash Balance | $1,555,253 | $2,552,122 | $4,273,211 | $5,118,969 | $5,657,872 | $6,052,544 | $6,506,717 | $6,961,199 | $7,417,152 | $8,127,903 | $8,780,208 | $9,911,187 | |
| 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 | $114,000 | $1,555,253 | $2,552,122 | $4,273,211 | $5,118,969 | $5,657,872 | $6,052,544 | $6,506,717 | $6,961,199 | $7,417,152 | $8,127,903 | $8,780,208 | $9,911,187 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $114,000 | $1,555,253 | $2,552,122 | $4,273,211 | $5,118,969 | $5,657,872 | $6,052,544 | $6,506,717 | $6,961,199 | $7,417,152 | $8,127,903 | $8,780,208 | $9,911,187 |
| Long-term Assets | |||||||||||||
| Long-term Assets | $305,450 | $305,450 | $305,450 | $305,450 | $305,450 | $305,450 | $305,450 | $305,450 | $305,450 | $305,450 | $305,450 | $305,450 | $305,450 |
| Accumulated Depreciation | $0 | $5,091 | $10,182 | $15,273 | $20,363 | $25,454 | $30,545 | $35,636 | $40,727 | $45,818 | $50,908 | $55,999 | $61,090 |
| Total Long-term Assets | $305,450 | $300,359 | $295,268 | $290,178 | $285,087 | $279,996 | $274,905 | $269,814 | $264,723 | $259,633 | $254,542 | $249,451 | $244,360 |
| Total Assets | $419,450 | $1,855,612 | $2,847,390 | $4,563,389 | $5,404,056 | $5,937,868 | $6,327,449 | $6,776,531 | $7,225,923 | $7,676,784 | $8,382,445 | $9,029,659 | $10,155,547 |
| 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 | $383,269 | $370,043 | $536,279 | $370,398 | $259,534 | $199,570 | $199,272 | $199,205 | $199,061 | $258,940 | $259,598 | $372,022 |
| 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 | $383,269 | $370,043 | $536,279 | $370,398 | $259,534 | $199,570 | $199,272 | $199,205 | $199,061 | $258,940 | $259,598 | $372,022 |
| Long-term Liabilities | $800,000 | $789,669 | $779,252 | $768,748 | $758,157 | $747,477 | $736,708 | $725,850 | $714,901 | $703,861 | $692,729 | $681,504 | $670,186 |
| Total Liabilities | $800,000 | $1,172,938 | $1,149,295 | $1,305,028 | $1,128,554 | $1,007,011 | $936,278 | $925,122 | $914,106 | $902,922 | $951,669 | $941,102 | $1,042,207 |
| Paid-in Capital | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 |
| Retained Earnings | ($420,550) | ($420,550) | ($420,550) | ($420,550) | ($420,550) | ($420,550) | ($420,550) | ($420,550) | ($420,550) | ($420,550) | ($420,550) | ($420,550) | ($420,550) |
| Earnings | $0 | $1,063,224 | $2,078,645 | $3,638,911 | $4,656,051 | $5,311,406 | $5,771,720 | $6,231,959 | $6,692,367 | $7,154,412 | $7,811,325 | $8,469,107 | $9,493,889 |
| Total Capital | ($380,550) | $682,674 | $1,698,095 | $3,258,361 | $4,275,501 | $4,930,856 | $5,391,170 | $5,851,409 | $6,311,817 | $6,773,862 | $7,430,775 | $8,088,557 | $9,113,339 |
| Total Liabilities and Capital | $419,450 | $1,855,612 | $2,847,390 | $4,563,389 | $5,404,055 | $5,937,867 | $6,327,448 | $6,776,531 | $7,225,922 | $7,676,784 | $8,382,444 | $9,029,659 | $10,155,546 |
| Net Worth | ($380,550) | $682,674 | $1,698,095 | $3,258,361 | $4,275,501 | $4,930,857 | $5,391,170 | $5,851,409 | $6,311,817 | $6,773,863 | $7,430,776 | $8,088,557 | $9,113,339 |
By 
