Workout Gym Business Plan

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Mountain Brook Fitness Center

Financial Plan

Forecast

Key Assumptions

  • Increasing overall demand for gyms and fitness continues 
  • Increasing overall demand for healthy organic food continues
  • No big changes in general view on gyms vs. outside activities
  • No major push from chain competition

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

Financing Needed

We have existing loans of $100,000 long-term and $70,000 short-term. We’ll be opening a new credit line of $70,000 as we start with this plan. 

Statements

Projected Profit & Loss

2020 2021 2022
Gross Margin $1,212,300 $1,457,320 $1,639,606
Operating Expenses
Salaries & Wages $862,800 $1,030,608 $1,166,071
Employee Related Expenses $97,200 $117,504 $134,835
Sales $18,000 $18,000 $18,000
Marketing $11,400 $11,400 $11,400
Utilities $6,000 $6,000 $6,000
Insurance $12,000 $12,000 $12,000
Rent $72,000 $72,000 $72,000
Amortization of Other Current Assets $0 $0 $0
Interest Incurred $9,151 $3,696 $2,695
Depreciation and Amortization $12,667 $12,666 $12,667
Gain or Loss from Sale of Assets
Income Taxes $16,662 $26,017 $30,591
Total Expenses $1,201,880 $1,395,572 $1,553,653
Net Profit $94,420 $147,428 $173,347

Projected Balance Sheet

Starting Balances 2020 2021 2022
Cash $55,000 $59,344 $91,488 $110,298
Accounts Receivable $17,388 $17,359 $19,429
Inventory
Other Current Assets $45,000 $45,000 $45,000 $45,000
Total Current Assets $100,000 $121,732 $153,847 $174,727
Long-Term Assets $200,000 $200,000 $200,000 $200,000
Accumulated Depreciation ($48,000) ($60,667) ($73,333) ($86,000)
Total Long-Term Assets $152,000 $139,333 $126,667 $114,000
Accounts Payable $60,000 $16,318 $16,318 $16,318
Income Taxes Payable $10,391 $6,519 $7,654
Sales Taxes Payable $30,000 $30,860 $34,540
Short-Term Debt $88,054 $24,968 $19,949 $20,969
Prepaid Revenue
Total Current Liabilities $148,054 $81,677 $73,646 $79,481
Long-Term Debt $81,946 $62,968 $43,020 $22,050
Long-Term Liabilities $81,946 $62,968 $43,020 $22,050
Paid-In Capital
Retained Earnings $22,000 $22,000 $16,420 $13,848
Earnings $94,420 $147,428 $173,347

Projected Cash Flow Statement

2020 2021 2022
Net Cash Flow from Operations
Net Profit $94,420 $147,428 $173,347
Depreciation & Amortization $12,667 $12,667 $12,667
Change in Accounts Receivable ($17,388) $29 ($2,070)
Change in Inventory
Change in Accounts Payable ($43,682) $0 $0
Change in Income Tax Payable $10,391 ($3,872) $1,135
Change in Sales Tax Payable $30,000 $860 $3,680
Change in Prepaid Revenue
Investing & Financing
Assets Purchased or Sold
Investments Received
Dividends & Distributions ($100,000) ($150,000)
Change in Short-Term Debt ($63,086) ($5,020) $1,021
Change in Long-Term Debt ($18,978) ($19,949) ($20,969)
Cash at Beginning of Period $55,000 $59,344 $91,488
Net Change in Cash $4,344 $32,143 $18,811
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