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Glen Mar Forest Products

Executive Summary

The marketplace for nursery products and services is changing, both in nature and scope.  The consumer is more upscale, and the market is expanding.

During the last seven years, the number of U.S. households increased 10 percent to 140.9 million.  The National Association of Home Builders anticipates 903,000 new home starts this year, while there will be more than 4.5 million sales of existing homes, according to the National Association of Realtors.

These facts alone paint a future of opportunity for forest by-products.  But they do not stand alone.  A significant population change has occurred.  Baby boomers now dominate the housing market, the 45- to 56-year-old bracket will increase by 54 percent in the next four years, according to the U.S.  Department of Commerce.  Recently, 45 to 60 year old customers emerged as the nursery industry’s primary buyers, accounting for 50 percent of retail nursery sales.

Last year, a quarter of U.S. households spent an average of $500 each for landscaping (installing plant material in original or renovated landscapes). This helped retailers ring up over $5 billion in sales.

Glen Mar Forest Products will offer this growing customer base a new product line that will change the face of landscaping.  The product is called Rainbow Mulch™. This color enhanced shredded hardwood mulch is colorfast and environmentally safe.  It does not blow or wash away and is safe for all plants and animals.  The product is 100% organic and produced from virgin wood products.

The customer can choose from five rainbow colors:

  • Rainbow Gold
  • Rainbow Brown
  • Rainbow Green
  • Rainbow Grey
  • Rainbow White

Rainbow Mulch™ gives the customer a new landscaping tool that can change a ho-hum lawn into beautiful landscape.

Wholesale landscape products business plan, executive summary chart image

1.1 Objectives

  • Establish Glen Mar Forest Products as the regional leader in producing color enhanced mulch.
  • Increase the number of retail outlets carrying Glen Mar Forest Products by 20% over the next two years.
  • Build a solid working relationship with all the region’s landscape product wholesale distributors.

1.2 Mission

Glen Mar’s mission is to introduce innovative landscaping products to its target customer base.  Charles Marshall, owner of Glen Mar, will utilize his landscaping background, his experience in the wood products industry, and his contacts with the region’s wholesale distributors to create products that will change the face of landscaping.

1.3 Keys to Success

The keys to success in Glen Mar’s business are:

  1. Offering innovative landscaping products.  This is essential for maintaining the niche market sectors mentioned in the mission statement.
  2. Reliable and timely deliveries.  Glen Mar must make good on its delivery promises.
  3. A reliable administration that is ready to serve customers, prepare accurate billing, follow-up on orders and other documentation, and maintain a close watch on expenses and collection of accounts receivable.
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Company Summary

Glen Mar Forest Products will create landscaping products.  Glen Mar Forest Products is located in Springfield, Oregon.  The location offers access to wood for manufacturing our products as well as excellent shipping resources. 

2.1 Company Ownership

Glen Mar’s is owned by Charles Marshall.  Charles has ten years of landscaping experience and seven years of experience in wood by-products.

2.2 Start-up Summary

The start-up cost of Glen Mar Forest Products will consist primarily of equipment and inventory.  Charles Marshall and silent partner will each invest equally.  Charles will also secure a hefty long-term commerical loan in an amount matching the two partners’ investment.

Wholesale landscape products business plan, company summary chart image

Start-up Funding
Start-up Expenses to Fund $107,800
Start-up Assets to Fund $92,200
Total Funding Required $200,000
Assets
Non-cash Assets from Start-up $70,000
Cash Requirements from Start-up $22,200
Additional Cash Raised $0
Cash Balance on Starting Date $22,200
Total Assets $92,200
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $100,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $100,000
Capital
Planned Investment
Charles Marshall $50,000
Silent Partner $50,000
Additional Investment Requirement $0
Total Planned Investment $100,000
Loss at Start-up (Start-up Expenses) ($107,800)
Total Capital ($7,800)
Total Capital and Liabilities $92,200
Total Funding $200,000
Start-up
Requirements
Start-up Expenses
Legal $1,000
Stationery etc. $800
Brochures $2,000
Insurance $1,000
Rent $3,000
Expensed Equipment $80,000
Truck $20,000
Total Start-up Expenses $107,800
Start-up Assets
Cash Required $22,200
Start-up Inventory $20,000
Other Current Assets $0
Long-term Assets $50,000
Total Assets $92,200
Total Requirements $200,000

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Products

Our product is called Rainbow Mulch™.  This color enhanced shredded hardwood mulch is colorfast and environmentally safe.  It does not blow or wash away and is safe for all plants and animals.  The product is 100% organic and produced from virgin wood products.

The customer can choose from 5 rainbow colors:

  • Rainbow Gold
  • Rainbow Brown
  • Rainbow Green
  • Rainbow Grey
  • Rainbow White

Rainbow Mulch™ gives the customer a new landscaping tool that can change a ho-hum lawn into beautiful landscape.

Rainbow Mulch™ is available in either a 25 lb or a 50 lb bag.

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Market Analysis Summary

Last year, a quarter of U.S.  households spent an average of $500 each for landscaping (installing plant material in original or renovated landscapes). This helped retailers ring up over $5 billion in sales.

The expanding, upscale landscaping market means more demand for the speciality nursery products.  Landscaping will be a project of high priority among new homeowners, who expect to spend an average of $3,500 on it.  Five percent estimate they will spend $10,000 or more.

Fifty-one percent of these landscape customers are male.  Fifty-six percent are 30 to 49 years old, and 46 percent are married with children.  Forty-nine percent are college-educated.  Fifty-one percent hold business or professional jobs, and 56 percent earn $30,000 or more.  Half live in the suburbs.

4.1 Market Segmentation

Glen Mar Forest Products will focus on two customer groups:

  • Wholesale Distributors: This group is the critical supplier to retail outlets and pivotal to the success of Rainbow Mulch™.
  • Landscaping Professionals: An important key to the landscaping market is the ability to add value to property through innovative products or techniques.  We believe that Rainbow Mulch™ is an invaluable tool to landscaping professionals that will improve the range of options they have in projects.
Wholesale landscape products business plan, market analysis summary chart image

Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Wholesale Distributors 4% 20,000 20,800 21,632 22,497 23,397 4.00%
Professional Landscapers 6% 35,000 37,100 39,326 41,686 44,187 6.00%
Total 5.29% 55,000 57,900 60,958 64,183 67,584 5.29%

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Strategy and Implementation Summary

Glen Mar Forest Products will focus on becoming the leading provider of color enhanced mulch products.

5.1 Competitive Edge

Charles Marshall is the competitive edge of Glen Mar Forest Products.  Charles has worked for both Acme Forest Products and Wilson Landscaping over the past fourteen years.

In his last position with Acme Forest Products, Charles sold wood by-products to numerous markets on the West Coast.  He generated sales in excess of $4 million annually.  His strength is his customer relation skills and he has been successful in expanding the range of products purchased by wholesale distributors in his sales region.

Before joining Acme Forest Products, Charles was a sales representative for Wilson Landscaping for six years.  Wilson Landscaping is the largest landscaping firm in the greater Lane County area with sales in excess of $4 million annually.

During his years with both Acme Forest Products and Wilson Landscaping, Charles has made invaluable contacts with wholesale distributors, landscaping professionals, and commercial retail outlets.  This gives Glen Mar Forest Products the competitive edge in introducing its new products to its target customers.

5.2 Sales Strategy

Glen Mar Forest Products will have two distinct sales approaches:

  • For Wholesale Distributors: We will offer distributors a 20% discount on wholesale purchases for the first three months of operation.
  • For Landscaping Professionals: We will offer landscaping professionals the wholesale price for Rainbow Mulch™ for the first six months of operation.

5.2.1 Sales Forecast

The following is the sales forecast for three years.

Wholesale landscape products business plan, strategy and implementation summary chart image

Wholesale landscape products business plan, strategy and implementation summary chart image

Sales Forecast
Year 1 Year 2 Year 3
Sales
Wholesale Distributors $209,500 $260,000 $310,000
Landscaping Professionals $124,000 $160,000 $200,000
Total Sales $333,500 $420,000 $510,000
Direct Cost of Sales Year 1 Year 2 Year 3
Wholesale Distributors $85,900 $110,000 $130,000
Landscaping Professionals $18,300 $23,000 $24,000
Subtotal Direct Cost of Sales $104,200 $133,000 $154,000

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Management Summary

Charles Marshall will be responsible for sales and marketing.  Glen Mar Forest Products will have a Production Manager who will be responsible for the daily manufacturing operation.

6.1 Personnel Plan

The personnel of Glen Mar Forest Product are as follows:

  • Owner/sales and marketing manager;
  • Production manager;
  • Production staff (3).
Personnel Plan
Year 1 Year 2 Year 3
Chales Marshall $33,600 $40,000 $50,000
Production Manager $33,600 $40,000 $50,000
Production Staff (3) $57,600 $60,000 $66,000
Total People 5 5 5
Total Payroll $124,800 $140,000 $166,000

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Financial Plan

The following is the financial plan for Glen Mar Forest Products.

7.1 Break-even Analysis

The monthly break-even point is calculated and displayed in the following table and chart.

Wholesale landscape products business plan, financial plan chart image

Break-even Analysis
Monthly Revenue Break-even $25,743
Assumptions:
Average Percent Variable Cost 31%
Estimated Monthly Fixed Cost $17,700

7.2 Projected Profit and Loss

The following table and chart will highlight projected profit and loss for the next three years.

Wholesale landscape products business plan, financial plan chart image

Wholesale landscape products business plan, financial plan chart image

Wholesale landscape products business plan, financial plan chart image

Wholesale landscape products business plan, financial plan chart image

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $333,500 $420,000 $510,000
Direct Cost of Sales $104,200 $133,000 $154,000
Other Production Expenses $0 $0 $0
Total Cost of Sales $104,200 $133,000 $154,000
Gross Margin $229,300 $287,000 $356,000
Gross Margin % 68.76% 68.33% 69.80%
Expenses
Payroll $124,800 $140,000 $166,000
Sales and Marketing and Other Expenses $18,000 $36,000 $46,000
Depreciation $2,880 $2,880 $2,880
Leased Equipment $0 $0 $0
Utilities $6,000 $6,000 $6,000
Insurance $6,000 $6,000 $6,000
Rent $36,000 $36,000 $36,000
Payroll Taxes $18,720 $21,000 $24,900
Other $0 $0 $0
Total Operating Expenses $212,400 $247,880 $287,780
Profit Before Interest and Taxes $16,900 $39,120 $68,220
EBITDA $19,780 $42,000 $71,100
Interest Expense $9,480 $8,760 $7,940
Taxes Incurred $2,226 $9,108 $18,084
Net Profit $5,194 $21,252 $42,196
Net Profit/Sales 1.56% 5.06% 8.27%

7.3 Projected Cash Flow

The following table and chart highlight the projected cash flow for three years.

Wholesale landscape products business plan, financial plan chart image

Pro Forma Cash Flow
Year 1 Year 2 Year 3
Cash Received
Cash from Operations
Cash Sales $100,050 $126,000 $153,000
Cash from Receivables $181,790 $280,601 $343,059
Subtotal Cash from Operations $281,840 $406,601 $496,059
Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $4,000 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $10,000 $0 $0
Subtotal Cash Received $291,840 $410,601 $496,059
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $124,800 $140,000 $166,000
Bill Payments $170,595 $264,865 $298,698
Subtotal Spent on Operations $295,395 $404,865 $464,698
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $1,200
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal Repayment $9,600 $9,600 $9,600
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $304,995 $414,465 $475,498
Net Cash Flow ($13,155) ($3,864) $20,561
Cash Balance $9,045 $5,181 $25,742

7.4 Projected Balance Sheet

The following table highlights the projected balance sheet for three years.

Pro Forma Balance Sheet
Year 1 Year 2 Year 3
Assets
Current Assets
Cash $9,045 $5,181 $25,742
Accounts Receivable $51,660 $65,059 $79,000
Inventory $15,950 $20,358 $23,573
Other Current Assets $0 $0 $0
Total Current Assets $76,655 $90,599 $128,315
Long-term Assets
Long-term Assets $50,000 $50,000 $50,000
Accumulated Depreciation $2,880 $5,760 $8,640
Total Long-term Assets $47,120 $44,240 $41,360
Total Assets $123,775 $134,839 $169,675
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $25,981 $21,393 $24,833
Current Borrowing $0 $4,000 $2,800
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $25,981 $25,393 $27,633
Long-term Liabilities $90,400 $80,800 $71,200
Total Liabilities $116,381 $106,193 $98,833
Paid-in Capital $110,000 $110,000 $110,000
Retained Earnings ($107,800) ($102,606) ($81,354)
Earnings $5,194 $21,252 $42,196
Total Capital $7,394 $28,646 $70,842
Total Liabilities and Capital $123,775 $134,839 $169,675
Net Worth $7,394 $28,646 $70,842

7.5 Business Ratios

Business ratios for the years of this plan are shown below.  Industry profile ratios based on the Standard Industrial Classification (SIC) code 2493, Reconstituted Wood Products, are shown for comparison.

Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth 0.00% 25.94% 21.43% 8.10%
Percent of Total Assets
Accounts Receivable 41.74% 48.25% 46.56% 22.10%
Inventory 12.89% 15.10% 13.89% 16.70%
Other Current Assets 0.00% 0.00% 0.00% 27.00%
Total Current Assets 61.93% 67.19% 75.62% 65.80%
Long-term Assets 38.07% 32.81% 24.38% 34.20%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 20.99% 18.83% 16.29% 36.60%
Long-term Liabilities 73.04% 59.92% 41.96% 15.70%
Total Liabilities 94.03% 78.76% 58.25% 52.30%
Net Worth 5.97% 21.24% 41.75% 47.70%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 68.76% 68.33% 69.80% 31.60%
Selling, General & Administrative Expenses 67.15% 63.13% 61.33% 18.10%
Advertising Expenses 3.60% 7.14% 7.84% 0.50%
Profit Before Interest and Taxes 5.07% 9.31% 13.38% 2.00%
Main Ratios
Current 2.95 3.57 4.64 1.61
Quick 2.34 2.77 3.79 0.98
Total Debt to Total Assets 94.03% 78.76% 58.25% 52.30%
Pre-tax Return on Net Worth 100.35% 105.98% 85.09% 4.20%
Pre-tax Return on Assets 5.99% 22.52% 35.53% 8.90%
Additional Ratios Year 1 Year 2 Year 3
Net Profit Margin 1.56% 5.06% 8.27% n.a
Return on Equity 70.25% 74.19% 59.56% n.a
Activity Ratios
Accounts Receivable Turnover 4.52 4.52 4.52 n.a
Collection Days 56 72 74 n.a
Inventory Turnover 9.68 7.33 7.01 n.a
Accounts Payable Turnover 7.57 12.17 12.17 n.a
Payment Days 27 33 28 n.a
Total Asset Turnover 2.69 3.11 3.01 n.a
Debt Ratios
Debt to Net Worth 15.74 3.71 1.40 n.a
Current Liab. to Liab. 0.22 0.24 0.28 n.a
Liquidity Ratios
Net Working Capital $50,674 $65,206 $100,682 n.a
Interest Coverage 1.78 4.47 8.59 n.a
Additional Ratios
Assets to Sales 0.37 0.32 0.33 n.a
Current Debt/Total Assets 21% 19% 16% n.a
Acid Test 0.35 0.20 0.93 n.a
Sales/Net Worth 45.10 14.66 7.20 n.a
Dividend Payout 0.00 0.00 0.00 n.a

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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
Wholesale Distributors 0% $14,000 $14,000 $14,000 $16,000 $16,000 $17,500 $18,000 $18,000 $20,000 $20,000 $20,000 $22,000
Landscaping Professionals 0% $5,000 $5,000 $6,000 $6,000 $8,000 $10,000 $12,000 $12,000 $13,000 $14,000 $16,000 $17,000
Total Sales $19,000 $19,000 $20,000 $22,000 $24,000 $27,500 $30,000 $30,000 $33,000 $34,000 $36,000 $39,000
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
Wholesale Distributors $4,000 $4,000 $4,000 $4,400 $6,000 $6,300 $8,000 $8,200 $9,000 $10,000 $10,000 $12,000
Landscaping Professionals $1,000 $1,000 $1,000 $1,080 $1,200 $1,280 $1,700 $1,740 $1,800 $2,000 $2,000 $2,500
Subtotal Direct Cost of Sales $5,000 $5,000 $5,000 $5,480 $7,200 $7,580 $9,700 $9,940 $10,800 $12,000 $12,000 $14,500
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
Chales Marshall 0% $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800
Production Manager 0% $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800
Production Staff (3) 0% $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800
Total People 5 5 5 5 5 5 5 5 5 5 5 5
Total Payroll $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400

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 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
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 $19,000 $19,000 $20,000 $22,000 $24,000 $27,500 $30,000 $30,000 $33,000 $34,000 $36,000 $39,000
Direct Cost of Sales $5,000 $5,000 $5,000 $5,480 $7,200 $7,580 $9,700 $9,940 $10,800 $12,000 $12,000 $14,500
Other Production Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $5,000 $5,000 $5,000 $5,480 $7,200 $7,580 $9,700 $9,940 $10,800 $12,000 $12,000 $14,500
Gross Margin $14,000 $14,000 $15,000 $16,520 $16,800 $19,920 $20,300 $20,060 $22,200 $22,000 $24,000 $24,500
Gross Margin % 73.68% 73.68% 75.00% 75.09% 70.00% 72.44% 67.67% 66.87% 67.27% 64.71% 66.67% 62.82%
Expenses
Payroll $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400
Sales and Marketing and Other Expenses $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Depreciation $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $240 $240
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Insurance $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
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% $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560 $1,560
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $17,700 $17,700 $17,700 $17,700 $17,700 $17,700 $17,700 $17,700 $17,700 $17,700 $17,700 $17,700
Profit Before Interest and Taxes ($3,700) ($3,700) ($2,700) ($1,180) ($900) $2,220 $2,600 $2,360 $4,500 $4,300 $6,300 $6,800
EBITDA ($3,460) ($3,460) ($2,460) ($940) ($660) $2,460 $2,840 $2,600 $4,740 $4,540 $6,540 $7,040
Interest Expense $827 $820 $813 $807 $800 $793 $787 $780 $773 $767 $760 $753
Taxes Incurred ($1,358) ($1,356) ($1,054) ($596) ($510) $428 $544 $474 $1,118 $1,060 $1,662 $1,814
Net Profit ($3,169) ($3,164) ($2,459) ($1,391) ($1,190) $999 $1,269 $1,106 $2,609 $2,473 $3,878 $4,233
Net Profit/Sales -16.68% -16.65% -12.30% -6.32% -4.96% 3.63% 4.23% 3.69% 7.91% 7.27% 10.77% 10.85%

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 $5,700 $5,700 $6,000 $6,600 $7,200 $8,250 $9,000 $9,000 $9,900 $10,200 $10,800 $11,700
Cash from Receivables $0 $443 $13,300 $13,323 $14,047 $15,447 $16,882 $19,308 $21,000 $21,070 $23,123 $23,847
Subtotal Cash from Operations $5,700 $6,143 $19,300 $19,923 $21,247 $23,697 $25,882 $28,308 $30,900 $31,270 $33,923 $35,547
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 $10,000 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $5,700 $6,143 $19,300 $19,923 $21,247 $33,697 $25,882 $28,308 $30,900 $31,270 $33,923 $35,547
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 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400 $10,400
Bill Payments $218 $6,529 $6,567 $7,985 $12,901 $16,437 $16,417 $20,359 $18,591 $20,748 $22,183 $21,662
Subtotal Spent on Operations $10,618 $16,929 $16,967 $18,385 $23,301 $26,837 $26,817 $30,759 $28,991 $31,148 $32,583 $32,062
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 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800
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 $11,418 $17,729 $17,767 $19,185 $24,101 $27,637 $27,617 $31,559 $29,791 $31,948 $33,383 $32,862
Net Cash Flow ($5,718) ($11,585) $1,533 $739 ($2,854) $6,060 ($1,736) ($3,251) $1,109 ($678) $541 $2,685
Cash Balance $16,482 $4,897 $6,430 $7,169 $4,315 $10,375 $8,639 $5,388 $6,497 $5,820 $6,361 $9,045
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 $22,200 $16,482 $4,897 $6,430 $7,169 $4,315 $10,375 $8,639 $5,388 $6,497 $5,820 $6,361 $9,045
Accounts Receivable $0 $13,300 $26,157 $26,857 $28,933 $31,687 $35,490 $39,608 $41,300 $43,400 $46,130 $48,207 $51,660
Inventory $20,000 $15,000 $10,000 $6,000 $6,028 $7,920 $8,338 $10,670 $10,934 $11,880 $13,200 $13,200 $15,950
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $42,200 $44,782 $41,054 $39,287 $42,130 $43,921 $54,203 $58,917 $57,622 $61,777 $65,150 $67,767 $76,655
Long-term Assets
Long-term 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
Accumulated Depreciation $0 $240 $480 $720 $960 $1,200 $1,440 $1,680 $1,920 $2,160 $2,400 $2,640 $2,880
Total Long-term Assets $50,000 $49,760 $49,520 $49,280 $49,040 $48,800 $48,560 $48,320 $48,080 $47,840 $47,600 $47,360 $47,120
Total Assets $92,200 $94,542 $90,574 $88,567 $91,170 $92,721 $102,763 $107,237 $105,702 $109,617 $112,750 $115,127 $123,775
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 $6,311 $6,307 $7,559 $12,353 $15,894 $15,737 $19,742 $17,901 $20,007 $21,466 $20,766 $25,981
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 $6,311 $6,307 $7,559 $12,353 $15,894 $15,737 $19,742 $17,901 $20,007 $21,466 $20,766 $25,981
Long-term Liabilities $100,000 $99,200 $98,400 $97,600 $96,800 $96,000 $95,200 $94,400 $93,600 $92,800 $92,000 $91,200 $90,400
Total Liabilities $100,000 $105,511 $104,707 $105,159 $109,153 $111,894 $110,937 $114,142 $111,501 $112,807 $113,466 $111,966 $116,381
Paid-in Capital $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $110,000 $110,000 $110,000 $110,000 $110,000 $110,000 $110,000
Retained Earnings ($107,800) ($107,800) ($107,800) ($107,800) ($107,800) ($107,800) ($107,800) ($107,800) ($107,800) ($107,800) ($107,800) ($107,800) ($107,800)
Earnings $0 ($3,169) ($6,333) ($8,792) ($10,183) ($11,373) ($10,374) ($9,105) ($7,999) ($5,390) ($2,917) $961 $5,194
Total Capital ($7,800) ($10,969) ($14,133) ($16,592) ($17,983) ($19,173) ($8,174) ($6,905) ($5,799) ($3,190) ($717) $3,161 $7,394
Total Liabilities and Capital $92,200 $94,542 $90,574 $88,567 $91,170 $92,721 $102,763 $107,237 $105,702 $109,617 $112,750 $115,127 $123,775
Net Worth ($7,800) ($10,969) ($14,133) ($16,592) ($17,983) ($19,173) ($8,174) ($6,905) ($5,799) ($3,190) ($717) $3,161 $7,394

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