Justin Seafood Market
Appendix
Sales Forecast | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Sales | |||||||||||||
Over-counter | 0% | $10,000 | $10,000 | $16,000 | $16,000 | $21,000 | $26,000 | $30,000 | $40,000 | $45,000 | $40,000 | $40,000 | $40,000 |
Shipped | 0% | $2,000 | $3,000 | $5,000 | $7,000 | $9,000 | $11,000 | $14,000 | $15,000 | $17,000 | $13,000 | $10,000 | $16,000 |
Restaurant Deliveries | 0% | $30,000 | $30,000 | $50,000 | $55,000 | $55,000 | $60,000 | $70,000 | $80,000 | $80,000 | $70,000 | $70,000 | $70,000 |
Total Sales | $42,000 | $43,000 | $71,000 | $78,000 | $85,000 | $97,000 | $114,000 | $135,000 | $142,000 | $123,000 | $120,000 | $126,000 | |
Direct Cost of Sales | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
Over-counter | $5,000 | $5,000 | $8,000 | $8,000 | $10,000 | $13,000 | $15,000 | $20,000 | $22,500 | $20,000 | $20,000 | $20,000 | |
Shipped | $1,100 | $1,600 | $2,600 | $3,800 | $4,500 | $5,500 | $7,500 | $8,000 | $8,500 | $6,500 | $6,000 | $8,500 | |
Restaurant Deliveries | $15,000 | $15,000 | $25,000 | $27,000 | $27,000 | $30,000 | $35,000 | $40,000 | $40,000 | $35,000 | $35,000 | $35,000 | |
Subtotal Direct Cost of Sales | $21,100 | $21,600 | $35,600 | $38,800 | $41,500 | $48,500 | $57,500 | $68,000 | $71,000 | $61,500 | $61,000 | $63,500 |
Personnel Plan | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Manager | 0% | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 |
Market Staff (2-4) | 0% | $3,500 | $3,500 | $3,500 | $5,250 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 |
Clean-up Crew (2) | 0% | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 | $3,800 |
Delivery Staff (2-4) | 0% | $4,000 | $4,000 | $4,000 | $6,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 | $8,000 |
Sales Staff (3-4) | 0% | $7,500 | $7,500 | $7,500 | $7,500 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |
Total People | 10 | 10 | 10 | 12 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | |
Total Payroll | $21,800 | $21,800 | $21,800 | $25,550 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 |
General Assumptions | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current 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% | |
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 | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Sales | $42,000 | $43,000 | $71,000 | $78,000 | $85,000 | $97,000 | $114,000 | $135,000 | $142,000 | $123,000 | $120,000 | $126,000 | |
Direct Cost of Sales | $21,100 | $21,600 | $35,600 | $38,800 | $41,500 | $48,500 | $57,500 | $68,000 | $71,000 | $61,500 | $61,000 | $63,500 | |
Other Production Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $21,100 | $21,600 | $35,600 | $38,800 | $41,500 | $48,500 | $57,500 | $68,000 | $71,000 | $61,500 | $61,000 | $63,500 | |
Gross Margin | $20,900 | $21,400 | $35,400 | $39,200 | $43,500 | $48,500 | $56,500 | $67,000 | $71,000 | $61,500 | $59,000 | $62,500 | |
Gross Margin % | 49.76% | 49.77% | 49.86% | 50.26% | 51.18% | 50.00% | 49.56% | 49.63% | 50.00% | 50.00% | 49.17% | 49.60% | |
Expenses | |||||||||||||
Payroll | $21,800 | $21,800 | $21,800 | $25,550 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | |
Sales and Marketing and Other Expenses | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
Depreciation | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | |
Renovation Expenses | $60,000 | $40,000 | $20,000 | $30,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Utilities | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
Insurance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Rent | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | |
Payroll Taxes | 15% | $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 Operating Expenses | $88,100 | $68,100 | $48,100 | $61,850 | $38,100 | $38,100 | $38,100 | $38,100 | $38,100 | $38,100 | $38,100 | $38,100 | |
Profit Before Interest and Taxes | ($67,200) | ($46,700) | ($12,700) | ($22,650) | $5,400 | $10,400 | $18,400 | $28,900 | $32,900 | $23,400 | $20,900 | $24,400 | |
EBITDA | ($66,400) | ($45,900) | ($11,900) | ($21,850) | $6,200 | $11,200 | $19,200 | $29,700 | $33,700 | $24,200 | $21,700 | $25,200 | |
Interest Expense | $983 | $966 | $949 | $932 | $915 | $898 | $881 | $864 | $847 | $830 | $813 | $796 | |
Taxes Incurred | ($20,455) | ($14,300) | ($4,095) | ($7,075) | $1,345 | $2,851 | $5,256 | $8,411 | $9,616 | $6,771 | $6,026 | $7,081 | |
Net Profit | ($47,728) | ($33,366) | ($9,554) | ($16,507) | $3,139 | $6,651 | $12,263 | $19,625 | $22,437 | $15,799 | $14,061 | $16,523 | |
Net Profit/Sales | -113.64% | -77.60% | -13.46% | -21.16% | 3.69% | 6.86% | 10.76% | 14.54% | 15.80% | 12.84% | 11.72% | 13.11% |
Pro Forma Cash Flow | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $25,200 | $25,800 | $42,600 | $46,800 | $51,000 | $58,200 | $68,400 | $81,000 | $85,200 | $73,800 | $72,000 | $75,600 | |
Cash from Receivables | $11,843 | $12,403 | $16,813 | $17,573 | $28,493 | $31,293 | $34,160 | $39,027 | $45,880 | $54,093 | $56,547 | $49,160 | |
Subtotal Cash from Operations | $37,043 | $38,203 | $59,413 | $64,373 | $79,493 | $89,493 | $102,560 | $120,027 | $131,080 | $127,893 | $128,547 | $124,760 | |
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 | $100,000 | $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 | $50,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $187,043 | $38,203 | $59,413 | $64,373 | $79,493 | $89,493 | $102,560 | $120,027 | $131,080 | $127,893 | $128,547 | $124,760 | |
Expenditures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
Expenditures from Operations | |||||||||||||
Cash Spending | $21,800 | $21,800 | $21,800 | $25,550 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | $31,800 | |
Bill Payments | $22,010 | $60,089 | $54,951 | $73,298 | $71,029 | $52,671 | $65,902 | $79,546 | $94,189 | $89,393 | $64,439 | $73,017 | |
Subtotal Spent on Operations | $43,810 | $81,889 | $76,751 | $98,848 | $102,829 | $84,471 | $97,702 | $111,346 | $125,989 | $121,193 | $96,239 | $104,817 | |
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 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $238 | $238 | $238 | $238 | $238 | $238 | $238 | $238 | $238 | $238 | $240 | $240 | |
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 | $45,848 | $83,927 | $78,789 | $100,886 | $104,867 | $86,509 | $99,740 | $113,384 | $128,027 | $123,231 | $98,279 | $106,857 | |
Net Cash Flow | $141,195 | ($45,724) | ($19,375) | ($36,513) | ($25,374) | $2,984 | $2,820 | $6,642 | $3,053 | $4,663 | $30,268 | $17,903 | |
Cash Balance | $191,195 | $145,471 | $126,096 | $89,583 | $64,209 | $67,193 | $70,013 | $76,656 | $79,708 | $84,371 | $114,639 | $132,541 |
Pro Forma Balance Sheet | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $50,000 | $191,195 | $145,471 | $126,096 | $89,583 | $64,209 | $67,193 | $70,013 | $76,656 | $79,708 | $84,371 | $114,639 | $132,541 |
Accounts Receivable | $23,686 | $28,643 | $33,440 | $45,027 | $58,653 | $64,160 | $71,667 | $83,107 | $98,080 | $109,000 | $104,107 | $95,560 | $96,800 |
Inventory | $30,050 | $23,210 | $23,760 | $39,160 | $42,680 | $45,650 | $53,350 | $63,250 | $74,800 | $78,100 | $67,650 | $67,100 | $69,850 |
Other Current Assets | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
Total Current Assets | $153,736 | $293,048 | $252,671 | $260,283 | $240,916 | $224,019 | $242,210 | $266,370 | $299,536 | $316,808 | $306,128 | $327,299 | $349,191 |
Long-term Assets | |||||||||||||
Long-term Assets | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 | $80,000 |
Accumulated Depreciation | $15,000 | $15,800 | $16,600 | $17,400 | $18,200 | $19,000 | $19,800 | $20,600 | $21,400 | $22,200 | $23,000 | $23,800 | $24,600 |
Total Long-term Assets | $65,000 | $64,200 | $63,400 | $62,600 | $61,800 | $61,000 | $60,200 | $59,400 | $58,600 | $57,800 | $57,000 | $56,200 | $55,400 |
Total Assets | $218,736 | $357,248 | $316,071 | $322,883 | $302,716 | $285,019 | $302,410 | $325,770 | $358,136 | $374,608 | $363,128 | $383,499 | $404,591 |
Liabilities and Capital | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
Current Liabilities | |||||||||||||
Accounts Payable | $20,000 | $58,279 | $52,506 | $70,909 | $69,288 | $50,490 | $63,267 | $76,402 | $91,181 | $87,254 | $62,013 | $70,363 | $76,973 |
Current Borrowing | $0 | $98,200 | $96,400 | $94,600 | $92,800 | $91,000 | $89,200 | $87,400 | $85,600 | $83,800 | $82,000 | $80,200 | $78,400 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $20,000 | $156,479 | $148,906 | $165,509 | $162,088 | $141,490 | $152,467 | $163,802 | $176,781 | $171,054 | $144,013 | $150,563 | $155,373 |
Long-term Liabilities | $20,000 | $19,762 | $19,524 | $19,286 | $19,048 | $18,810 | $18,572 | $18,334 | $18,096 | $17,858 | $17,620 | $17,380 | $17,140 |
Total Liabilities | $40,000 | $176,241 | $168,430 | $184,795 | $181,136 | $160,300 | $171,039 | $182,136 | $194,877 | $188,912 | $161,633 | $167,943 | $172,513 |
Paid-in Capital | $0 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
Retained Earnings | ($37,964) | $178,736 | $178,736 | $178,736 | $178,736 | $178,736 | $178,736 | $178,736 | $178,736 | $178,736 | $178,736 | $178,736 | $178,736 |
Earnings | $216,700 | ($47,728) | ($81,094) | ($90,649) | ($107,156) | ($104,017) | ($97,365) | ($85,102) | ($65,477) | ($43,040) | ($27,241) | ($13,180) | $3,342 |
Total Capital | $178,736 | $181,008 | $147,642 | $138,087 | $121,580 | $124,719 | $131,371 | $143,634 | $163,259 | $185,696 | $201,495 | $215,556 | $232,078 |
Total Liabilities and Capital | $218,736 | $357,248 | $316,071 | $322,883 | $302,716 | $285,019 | $302,410 | $325,770 | $358,136 | $374,608 | $363,128 | $383,499 | $404,591 |
Net Worth | $178,736 | $181,008 | $147,642 | $138,087 | $121,580 | $124,719 | $131,371 | $143,634 | $163,259 | $185,696 | $201,495 | $215,556 | $232,078 |