Tutoring Service Business Plan

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Bryan's Tutoring Service

Financial Plan

Forecast

Key assumptions

Our key assumptions are: 

  • In this education based society people to get degrees to get ahead. 
  • Not everyone learns the same. 
  • Different tools help different people ace the tests 

 

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

The tutoring business will need about $5,000 to start. Costs include gas and transportation to meet with students away from his home and occasional handouts. Bryan has reserved a room in his house and an office/meeting room for his business. Additionally, Bryan incurs Internet service provider fees, and every two years a new computer. 

Sources of Funds

Bryan will use the money he made in his side job to make the tutoring his only source of income. 

Statements

Projected Profit and Loss

2018 2019 2020
Gross Margin $68,239 $69,151 $70,063
Operating Expenses
Rent $36,000 $36,000 $36,000
Supplies $9,600 $9,600 $9,600
Utilities $1,437 $1,455 $1,475
Insurance $2,400 $2,400 $2,400
Marketing $718 $728 $738
Amortization of Other Current Assets $0 $0 $0
Interest Incurred
Depreciation and Amortization
Gain or Loss from Sale of Assets
Income Taxes $2,713 $2,845 $2,977
Total Expenses $56,459 $56,669 $56,877
Net Profit $15,371 $16,121 $16,873

Projected Balance Sheet

Starting Balances 2018 2019 2020
Cash $4,200 $20,399 $35,536 $52,375
Accounts Receivable $3,871 $4,768 $4,843
Inventory
Other Current Assets $300 $300 $300 $300
Total Current Assets $4,500 $24,570 $40,604 $57,519
Long-Term Assets
Accumulated Depreciation
Total Long-Term Assets
Accounts Payable $135 $3,953 $4,035 $4,041
Income Taxes Payable $882 $712 $747
Sales Taxes Payable $0 $0 $0
Short-Term Debt
Prepaid Revenue
Total Current Liabilities $135 $4,835 $4,747 $4,788
Long-Term Debt
Long-Term Liabilities
Paid-In Capital
Retained Earnings $4,365 $4,365 $19,736 $35,857
Earnings $15,371 $16,122 $16,873

Projected Cash Flow Statement

2018 2019 2020
Net Cash Flow from Operations
Net Profit $15,371 $16,121 $16,873
Depreciation & Amortization $0 $0 $0
Change in Accounts Receivable ($3,871) ($897) ($75)
Change in Inventory
Change in Accounts Payable $3,818 $82 $7
Change in Income Tax Payable $882 ($170) $35
Change in Sales Tax Payable $0 $0 $0
Change in Prepaid Revenue
Investing & Financing
Assets Purchased or Sold
Investments Received
Dividends & Distributions
Change in Short-Term Debt
Change in Long-Term Debt
Cash at Beginning of Period $4,200 $20,399 $35,536
Net Change in Cash $16,199 $15,136 $16,840
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