Morningstar Bakery
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 | |||||||||||||
Breads | 0% | $3,000 | $4,800 | $6,000 | $6,000 | $6,800 | $7,000 | $7,000 | $7,000 | $6,800 | $6,000 | $7,500 | $8,000 |
Coffee/Beverages | 0% | $0 | $3,500 | $3,500 | $3,000 | $3,000 | $3,200 | $3,200 | $3,200 | $3,200 | $3,400 | $3,500 | $3,700 |
Lunch Items (Soups & Sandwiches) | 0% | $0 | $0 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 |
Pastries/Sweets | 0% | $2,000 | $4,600 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $6,000 | $6,800 |
Total Sales | $5,000 | $12,900 | $22,500 | $22,000 | $22,800 | $23,200 | $23,200 | $23,200 | $23,000 | $22,400 | $25,000 | $26,500 | |
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 | |
Breads | $900 | $1,440 | $1,800 | $1,800 | $2,040 | $2,100 | $2,100 | $2,100 | $2,040 | $1,800 | $2,250 | $2,400 | |
Coffee/Beverages | $0 | $1,050 | $1,050 | $900 | $900 | $960 | $960 | $960 | $960 | $1,020 | $1,050 | $1,110 | |
Lunch Items (Soups & Sandwiches) | $0 | $0 | $3,200 | $3,200 | $3,200 | $3,200 | $3,200 | $3,200 | $3,200 | $3,200 | $3,200 | $3,200 | |
Pastries/Sweets | $800 | $1,840 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,400 | $2,720 | |
Subtotal Direct Cost of Sales | $1,700 | $4,330 | $8,050 | $7,900 | $8,140 | $8,260 | $8,260 | $8,260 | $8,200 | $8,020 | $8,900 | $9,430 |
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 | ||
Donna Sharp – Head Baker | 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 |
Lucy Hamilton | 0% | $1,750 | $1,750 | $1,750 | $1,750 | $1,750 | $1,750 | $1,750 | $1,750 | $1,750 | $1,750 | $1,750 | $1,750 |
Tara Juniper-Reid – Part-time | 0% | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 |
Counter Help – Full Time | 0% | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 | $1,500 |
Assistant Baker – Part time | 0% | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 | $750 |
Donovan Hamilton – Bookkeeper | 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 |
Total People | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | |
Total Payroll | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 |
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 | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | |
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% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
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 | $5,000 | $12,900 | $22,500 | $22,000 | $22,800 | $23,200 | $23,200 | $23,200 | $23,000 | $22,400 | $25,000 | $26,500 | |
Direct Cost of Sales | $1,700 | $4,330 | $8,050 | $7,900 | $8,140 | $8,260 | $8,260 | $8,260 | $8,200 | $8,020 | $8,900 | $9,430 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $1,700 | $4,330 | $8,050 | $7,900 | $8,140 | $8,260 | $8,260 | $8,260 | $8,200 | $8,020 | $8,900 | $9,430 | |
Gross Margin | $3,300 | $8,570 | $14,450 | $14,100 | $14,660 | $14,940 | $14,940 | $14,940 | $14,800 | $14,380 | $16,100 | $17,070 | |
Gross Margin % | 66.00% | 66.43% | 64.22% | 64.09% | 64.30% | 64.40% | 64.40% | 64.40% | 64.35% | 64.20% | 64.40% | 64.42% | |
Expenses | |||||||||||||
Payroll | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | |
Sales and Marketing and Other Expenses | $1,820 | $1,820 | $1,820 | $720 | $720 | $1,220 | $720 | $720 | $720 | $720 | $1,020 | $1,020 | |
Depreciation | $291 | $291 | $291 | $291 | $291 | $291 | $291 | $291 | $291 | $291 | $291 | $291 | |
Utilities | $50 | $50 | $48 | $45 | $45 | $35 | $35 | $35 | $35 | $45 | $48 | $48 | |
Insurance | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | |
Mortgage | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | |
Payroll Taxes | 12% | $1,050 | $1,050 | $1,050 | $1,050 | $1,050 | $1,050 | $1,050 | $1,050 | $1,050 | $1,050 | $1,050 | $1,050 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $13,011 | $13,011 | $13,009 | $11,906 | $11,906 | $12,396 | $11,896 | $11,896 | $11,896 | $11,906 | $12,209 | $12,209 | |
Profit Before Interest and Taxes | ($9,711) | ($4,441) | $1,441 | $2,194 | $2,754 | $2,544 | $3,044 | $3,044 | $2,904 | $2,474 | $3,891 | $4,861 | |
EBITDA | ($9,420) | ($4,150) | $1,732 | $2,485 | $3,045 | $2,835 | $3,335 | $3,335 | $3,195 | $2,765 | $4,182 | $5,152 | |
Interest Expense | $1,225 | $1,225 | $1,225 | $1,225 | $1,225 | $1,225 | $1,225 | $1,225 | $1,225 | $1,225 | $1,225 | $1,225 | |
Taxes Incurred | ($3,281) | ($1,417) | $54 | $242 | $382 | $330 | $455 | $455 | $420 | $312 | $666 | $909 | |
Net Profit | ($7,655) | ($4,250) | $162 | $726 | $1,146 | $989 | $1,364 | $1,364 | $1,259 | $936 | $1,999 | $2,727 | |
Net Profit/Sales | -153.11% | -32.94% | 0.72% | 3.30% | 5.03% | 4.26% | 5.88% | 5.88% | 5.47% | 4.18% | 8.00% | 10.29% |
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 | $5,000 | $12,900 | $22,500 | $22,000 | $22,800 | $23,200 | $23,200 | $23,200 | $23,000 | $22,400 | $25,000 | $26,500 | |
Subtotal Cash from Operations | $5,000 | $12,900 | $22,500 | $22,000 | $22,800 | $23,200 | $23,200 | $23,200 | $23,000 | $22,400 | $25,000 | $26,500 | |
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 | $5,000 | $12,900 | $22,500 | $22,000 | $22,800 | $23,200 | $23,200 | $23,200 | $23,000 | $22,400 | $25,000 | $26,500 | |
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 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | $8,750 | |
Bill Payments | $120 | $3,764 | $8,282 | $13,262 | $12,245 | $12,631 | $13,158 | $12,795 | $12,792 | $12,691 | $12,474 | $13,986 | |
Subtotal Spent on Operations | $8,870 | $12,514 | $17,032 | $22,012 | $20,995 | $21,381 | $21,908 | $21,545 | $21,542 | $21,441 | $21,224 | $22,736 | |
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 | $8,870 | $12,514 | $17,032 | $22,012 | $20,995 | $21,381 | $21,908 | $21,545 | $21,542 | $21,441 | $21,224 | $22,736 | |
Net Cash Flow | ($3,870) | $386 | $5,468 | ($12) | $1,805 | $1,819 | $1,292 | $1,655 | $1,458 | $959 | $3,776 | $3,764 | |
Cash Balance | $8,222 | $8,607 | $14,075 | $14,064 | $15,868 | $17,687 | $18,980 | $20,635 | $22,093 | $23,052 | $26,828 | $30,593 |
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 | $12,092 | $8,222 | $8,607 | $14,075 | $14,064 | $15,868 | $17,687 | $18,980 | $20,635 | $22,093 | $23,052 | $26,828 | $30,593 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $12,092 | $8,222 | $8,607 | $14,075 | $14,064 | $15,868 | $17,687 | $18,980 | $20,635 | $22,093 | $23,052 | $26,828 | $30,593 |
Long-term Assets | |||||||||||||
Long-term Assets | $175,000 | $175,000 | $175,000 | $175,000 | $175,000 | $175,000 | $175,000 | $175,000 | $175,000 | $175,000 | $175,000 | $175,000 | $175,000 |
Accumulated Depreciation | $0 | $291 | $582 | $873 | $1,164 | $1,455 | $1,746 | $2,037 | $2,328 | $2,619 | $2,910 | $3,201 | $3,492 |
Total Long-term Assets | $175,000 | $174,709 | $174,418 | $174,127 | $173,836 | $173,545 | $173,254 | $172,963 | $172,672 | $172,381 | $172,090 | $171,799 | $171,508 |
Total Assets | $187,092 | $182,931 | $183,025 | $188,202 | $187,900 | $189,413 | $190,941 | $191,943 | $193,307 | $194,474 | $195,142 | $198,627 | $202,101 |
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 | $3,494 | $7,839 | $12,854 | $11,825 | $12,192 | $12,731 | $12,369 | $12,369 | $12,277 | $12,008 | $13,494 | $14,241 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 | $12,000 |
Subtotal Current Liabilities | $12,000 | $15,494 | $19,839 | $24,854 | $23,825 | $24,192 | $24,731 | $24,369 | $24,369 | $24,277 | $24,008 | $25,494 | $26,241 |
Long-term Liabilities | $173,000 | $173,000 | $173,000 | $173,000 | $173,000 | $173,000 | $173,000 | $173,000 | $173,000 | $173,000 | $173,000 | $173,000 | $173,000 |
Total Liabilities | $185,000 | $188,494 | $192,839 | $197,854 | $196,825 | $197,192 | $197,731 | $197,369 | $197,369 | $197,277 | $197,008 | $198,494 | $199,241 |
Paid-in Capital | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 |
Retained Earnings | ($5,408) | ($5,408) | ($5,408) | ($5,408) | ($5,408) | ($5,408) | ($5,408) | ($5,408) | ($5,408) | ($5,408) | ($5,408) | ($5,408) | ($5,408) |
Earnings | $0 | ($7,655) | ($11,905) | ($11,744) | ($11,017) | ($9,871) | ($8,882) | ($7,518) | ($6,154) | ($4,895) | ($3,959) | ($1,959) | $767 |
Total Capital | $2,092 | ($5,563) | ($9,813) | ($9,652) | ($8,925) | ($7,779) | ($6,790) | ($5,426) | ($4,062) | ($2,803) | ($1,867) | $133 | $2,859 |
Total Liabilities and Capital | $187,092 | $182,931 | $183,025 | $188,202 | $187,900 | $189,413 | $190,941 | $191,943 | $193,307 | $194,474 | $195,142 | $198,627 | $202,101 |
Net Worth | $2,092 | ($5,563) | ($9,813) | ($9,652) | ($8,925) | ($7,779) | ($6,790) | ($5,426) | ($4,062) | ($2,803) | ($1,867) | $133 | $2,859 |