Start-up | |
Requirements | |
Start-up Expenses | |
Legal | $300 |
Stationery etc. | $150 |
Brochures | $200 |
Consultants | $0 |
Insurance | $0 |
Rent | $0 |
Research and development | $100 |
Expensed equipment | $500 |
Other | $0 |
Total Start-up Expenses | $1,250 |
Start-up Assets | |
Cash Required | $1,250 |
Other Current Assets | $400 |
Long-term Assets | $2,000 |
Total Assets | $3,650 |
Total Requirements | $4,900 |
Buy the Time will offer an expert consultant for all occasions. This consultant will specialize in personal gifts and ideas for people who desire the latest fashions and/or gift solutions for individuals who are hard to shop for. This service will provide insight, research, purchases, and delivery in custom packaging. The focus of the company is the needs of the client. It is the job of the consultant to translate those needs into low-cost solutions.
Buy the Time will target the middle-aged, busy executive. These individuals often have extremely busy schedules, including a great deal of travel time. In addition, they possess a large proportion of disposable income that allows them to afford custom services. This service will allow them more concentration on work, while allowing them to obtain great products for personal and business life.
The target market for Buy the Time is broken into three segments:
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Executives | 52% | 500 | 900 | 1,300 | 4,000 | 6,400 | 89.15% |
Business Persons | 32% | 260 | 500 | 800 | 2,010 | 3,900 | 96.80% |
Other | 15% | 60 | 240 | 400 | 1,000 | 1,840 | 135.32% |
Total | 96.16% | 820 | 1,640 | 2,500 | 7,010 | 12,140 | 96.16% |
Buy the Time’s primary market, the executive or high-end professional individual, has certain needs that are outlined below.
The best way to develop the company is to make our service necessary and accessible to the public. By facilitating their needs easily, we offer a great service at little inconvenience to them in a time where convenience matters the most.
In its broadest definition, the American shopping market consists of every American who needs to buy goods and services for themselves and their families. Although it is the aim of Buy the Time to eventually reach out to a wide range of shoppers, including middle income families, busy professionals, and people looking for “hard to find” items, the company will focus first on the busy executive-type shopper.
Buy the Time offers the service of shopping advice/expertise in trends, fashions, and emerging products, along with the purchasing and delivery of such items to the customer’s residence. It is assumed that most of the items purchased will be in single or small quantities. The primary attraction of such a service is that it significantly cuts down on shopping time for busy customers who wish to utilize their time for other purposes. With the advent of computers and the Internet, it is believed that this service can be offered at a low cost, and can be enhanced through the use of an established-customer database to track individual preferences.
At the moment, there are few services like this in the Seattle area. Therefore, there is a tremendous opportunity to build and retain significant market share. Customers choose and retain services like this often through word-of-mouth, when the company is able to achieve a high level of customer satisfaction. Although it is the aim of Buy the Time to significantly lower costs of this luxury service, at this time, cost does not play a significant factor in how customers choose a shopping service. The bottom line is establishing a strong intimate relationship with customers to capture the long-term profits through repeat business and create the enthusiasm among customers that will spur on word-of-mouth marketing.
Buy the Time will concentrate on expanding in metropolitan areas that have significant growth of young business persons and executives. Starting in Seattle, it will grow down the west coast to San Francisco and Los Angeles. From there we will target the east coast with locations in New York City, Miami, and Chicago.
The target customer is a busy business person unable to find time for purchasing custom goods. We will provide this tailored service to work around their schedules, while maintaining a low cost.
Our competitive edge lies in our expert service at a reasonable price. We will transform this service from a luxury into a demand service. We will provide a database for remembering occasions and dates, this will allow the client to remain stress-free. Buy the Time was created by an expert shopper who knows trends, prices, and details, such as fabrics and colors.
We are aware that there will be others trying to offer such a service, but only we will be able to provide such services at a low cost, with friendly consultants, and an ability to find exactly what our clients desire.
Our sales will be generated from repeat clients. This service will be established as an easy and friendly way to shop without the hassle. We will offer low introductory costs for our services. To ensure that all purchases will be worthwhile for the consultant, all of our orders will have a minimal amount required to cover any expenses incurred. This will be minimal, allowing for our services to be affordable.
Ms. Kousky has enough contacts in the Seattle area who have expressed interest in the service that no advertising will be needed for the first year of operation. Subsequent advertising (which may not start until year four or five) will depend on word-of-mouth, a website, telephone directory ads, local newspaper ads and articles, and brochures.
The following chart and table document forecasted sales.
In both April and May we expect a two percent growth each month. From June to September, each month should reflect a growth of five percent, since many activities occur during the summer months. October will show approximately four percent, since this is usually a time of transitions. November and December will show an increase to seven percent, with many people buying for the holidays. January through April will be an increase of one percent each month, since this is a slow retail period.
This will result in a growth of 68% after the first year. From that, sales in 2002 will see a growth of 57% as we develop our team of consultants. By 2003, sales will show a 78% growth. By the end of the third year, we will be able to move into markets outside the Seattle area.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Jade Kousky – Owner | $32,365 | $41,000 | $50,000 |
Retail Consultant 1 | $0 | $25,000 | $33,000 |
Total Sales | $32,365 | $66,000 | $83,000 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Jade Kousky – Owner | $11,250 | $18,750 | $22,500 |
Retail Consultant 1 | $0 | $9,000 | $15,000 |
Subtotal Direct Cost of Sales | $11,250 | $27,750 | $37,500 |
As Buy the Time grows, we will add consultants so that we may continue to offer personalized service in a timely fashion. Originally, it will start with the owner as the sole employee. By the end of the first year, another consultant will be added. From that point we will add a consultant when we choose to grow into different markets. We will shape our team depending on sales and growth.
Marketing and public relations will be handled mainly by the owner. If there is a greater need, a marketing consultant will be used.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Owner | $15,000 | $30,000 | $37,000 |
Other | $0 | $0 | $0 |
Total People | 0 | 0 | 0 |
Total Payroll | $15,000 | $30,000 | $37,000 |
Growth will occur according to the number of clients and cash flow.
With approximately half of our services provided on credit, collection will be essential. With this still being a service that is not essential to everyday living, we will show that payments are necessary immediately. With a concrete system for cash flow, we will be able to keep debt to a minimum, while still providing a high level of sales.
The following assumptions are made responding to growth, and are based on economic trends from the preceding two years.
The table below outlines some business assumptions that are the basis for Buy The Time’s growth, including tax rate and payment days.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 25.42% | 25.00% | 25.42% |
Other | 0 | 0 | 0 |
Our break-even analysis is shown in further detail in the following chart and table.
This is a conservative figure since contacts have been made, and have already generated many orders for our services. Buy the Time’s goal is to generate twice as much as the break-even point for a monthly standard.
Break-even Analysis | |
Monthly Revenue Break-even | $1,916 |
Assumptions: | |
Average Percent Variable Cost | 35% |
Estimated Monthly Fixed Cost | $1,250 |
Buy the Time’s projected profit and loss is indicated in the following table. Gross margin should remain between 50-70% the first year, with highest profits due near the end of the year. This should prove to be accurate, since that is a time when many clients increase their spending.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $32,365 | $66,000 | $83,000 |
Direct Cost of Sales | $11,250 | $27,750 | $37,500 |
Other | $0 | $0 | $0 |
Total Cost of Sales | $11,250 | $27,750 | $37,500 |
Gross Margin | $21,115 | $38,250 | $45,500 |
Gross Margin % | 65.24% | 57.95% | 54.82% |
Expenses | |||
Payroll | $15,000 | $30,000 | $37,000 |
Sales and Marketing and Other Expenses | $0 | $0 | $0 |
Depreciation | $0 | $0 | $0 |
Leased Equipment | $0 | $0 | $0 |
Utilities | $0 | $0 | $0 |
Insurance | $0 | $0 | $0 |
Rent | $0 | $0 | $0 |
Payroll Taxes | $0 | $0 | $0 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $15,000 | $30,000 | $37,000 |
Profit Before Interest and Taxes | $6,115 | $8,250 | $8,500 |
EBITDA | $6,115 | $8,250 | $8,500 |
Interest Expense | $0 | $0 | $0 |
Taxes Incurred | $1,528 | $2,063 | $2,160 |
Net Profit | $4,587 | $6,188 | $6,340 |
Net Profit/Sales | 14.17% | 9.38% | 7.64% |
The following chart and table outline the cash flow for fiscal years 2002, 2003, and 2004. For a monthly analysis, please see the attached appendix.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $17,801 | $36,300 | $45,650 |
Cash from Receivables | $11,759 | $26,785 | $35,877 |
Subtotal Cash from Operations | $29,560 | $63,085 | $81,527 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $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 | $0 | $0 | $0 |
Subtotal Cash Received | $29,560 | $63,085 | $81,527 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $15,000 | $30,000 | $37,000 |
Bill Payments | $11,630 | $28,509 | $38,851 |
Subtotal Spent on Operations | $26,630 | $58,509 | $75,851 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $26,630 | $58,509 | $75,851 |
Net Cash Flow | $2,929 | $4,575 | $5,676 |
Cash Balance | $4,179 | $8,755 | $14,430 |
The Balance Sheet table for fiscal years 2002, 2003, and 2004 follows. For a monthly analysis, please see the attached appendix.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $4,179 | $8,755 | $14,430 |
Accounts Receivable | $2,805 | $5,721 | $7,194 |
Other Current Assets | $400 | $400 | $400 |
Total Current Assets | $7,385 | $14,875 | $22,024 |
Long-term Assets | |||
Long-term Assets | $2,000 | $2,000 | $2,000 |
Accumulated Depreciation | $0 | $0 | $0 |
Total Long-term Assets | $2,000 | $2,000 | $2,000 |
Total Assets | $9,385 | $16,875 | $24,024 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $1,147 | $2,450 | $3,260 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $1,147 | $2,450 | $3,260 |
Long-term Liabilities | $0 | $0 | $0 |
Total Liabilities | $1,147 | $2,450 | $3,260 |
Paid-in Capital | $4,900 | $4,900 | $4,900 |
Retained Earnings | ($1,250) | $3,337 | $9,525 |
Earnings | $4,587 | $6,188 | $6,340 |
Total Capital | $8,237 | $14,425 | $20,764 |
Total Liabilities and Capital | $9,385 | $16,875 | $24,024 |
Net Worth | $8,237 | $14,425 | $20,764 |
The following table provides significant ratios for the personal services industry. The final column, Industry Profile, shows ratios for this industry as it is determined by the Standard Industrial Classification (SIC) Index 7299, “miscellaneous personal services.”
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 103.92% | 25.76% | -8.50% |
Percent of Total Assets | ||||
Accounts Receivable | 29.89% | 33.90% | 29.95% | 6.70% |
Other Current Assets | 4.26% | 2.37% | 1.66% | 26.40% |
Total Current Assets | 78.69% | 88.15% | 91.68% | 43.50% |
Long-term Assets | 21.31% | 11.85% | 8.32% | 56.50% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 12.23% | 14.52% | 13.57% | 19.50% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 21.40% |
Total Liabilities | 12.23% | 14.52% | 13.57% | 40.90% |
Net Worth | 87.77% | 85.48% | 86.43% | 59.10% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 65.24% | 57.95% | 54.82% | 50.80% |
Selling, General & Administrative Expenses | 51.07% | 54.26% | 47.14% | 34.40% |
Advertising Expenses | 0.00% | 0.00% | 0.00% | 0.20% |
Profit Before Interest and Taxes | 18.89% | 12.50% | 10.24% | 1.50% |
Main Ratios | ||||
Current | 6.44 | 6.07 | 6.76 | 2.09 |
Quick | 6.44 | 6.07 | 6.76 | 1.03 |
Total Debt to Total Assets | 12.23% | 14.52% | 13.57% | 40.90% |
Pre-tax Return on Net Worth | 74.24% | 57.19% | 40.94% | 1.10% |
Pre-tax Return on Assets | 65.16% | 48.89% | 35.38% | 1.90% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 14.17% | 9.38% | 7.64% | n.a |
Return on Equity | 55.69% | 42.90% | 30.53% | n.a |
Activity Ratios | ||||
Accounts Receivable Turnover | 5.19 | 5.19 | 5.19 | n.a |
Collection Days | 57 | 52 | 63 | n.a |
Accounts Payable Turnover | 11.14 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 22 | 26 | n.a |
Total Asset Turnover | 3.45 | 3.91 | 3.45 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.14 | 0.17 | 0.16 | n.a |
Current Liab. to Liab. | 1.00 | 1.00 | 1.00 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $6,237 | $12,425 | $18,764 | n.a |
Interest Coverage | 0.00 | 0.00 | 0.00 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.29 | 0.26 | 0.29 | n.a |
Current Debt/Total Assets | 12% | 15% | 14% | n.a |
Acid Test | 3.99 | 3.74 | 4.55 | n.a |
Sales/Net Worth | 3.93 | 4.58 | 4.00 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
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 | |||||||||||||
Jade Kousky – Owner | 0% | $2,168 | $2,181 | $2,290 | $2,404 | $2,524 | $2,650 | $2,703 | $2,891 | $3,092 | $3,123 | $3,154 | $3,185 |
Retail Consultant 1 | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Sales | $2,168 | $2,181 | $2,290 | $2,404 | $2,524 | $2,650 | $2,703 | $2,891 | $3,092 | $3,123 | $3,154 | $3,185 | |
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 | |
Jade Kousky – Owner | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | |
Retail Consultant 1 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 |
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 | ||
Owner | 0% | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 |
Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total People | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Total Payroll | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 |
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% | 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 | $2,168 | $2,181 | $2,290 | $2,404 | $2,524 | $2,650 | $2,703 | $2,891 | $3,092 | $3,123 | $3,154 | $3,185 | |
Direct Cost of Sales | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | $938 | |
Gross Margin | $1,231 | $1,244 | $1,353 | $1,467 | $1,587 | $1,713 | $1,766 | $1,954 | $2,155 | $2,186 | $2,217 | $2,248 | |
Gross Margin % | 56.76% | 57.02% | 59.06% | 61.00% | 62.86% | 64.62% | 65.32% | 67.57% | 69.68% | 69.98% | 70.28% | 70.57% | |
Expenses | |||||||||||||
Payroll | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | |
Sales and Marketing and Other Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Utilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Insurance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Rent | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Payroll Taxes | 10% | $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 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | |
Profit Before Interest and Taxes | ($20) | ($7) | $103 | $217 | $337 | $463 | $516 | $704 | $905 | $936 | $967 | $998 | |
EBITDA | ($20) | ($7) | $103 | $217 | $337 | $463 | $516 | $704 | $905 | $936 | $967 | $998 | |
Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Taxes Incurred | ($6) | ($2) | $26 | $54 | $84 | $116 | $129 | $176 | $226 | $234 | $242 | $249 | |
Net Profit | ($14) | ($5) | $77 | $162 | $252 | $347 | $387 | $528 | $678 | $702 | $725 | $748 | |
Net Profit/Sales | -0.63% | -0.22% | 3.36% | 6.75% | 10.00% | 13.09% | 14.30% | 18.25% | 21.94% | 22.47% | 22.98% | 23.49% |
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 | $1,192 | $1,200 | $1,260 | $1,322 | $1,388 | $1,458 | $1,487 | $1,590 | $1,701 | $1,718 | $1,735 | $1,752 | |
Cash from Receivables | $0 | $33 | $976 | $983 | $1,032 | $1,084 | $1,138 | $1,193 | $1,219 | $1,304 | $1,392 | $1,406 | |
Subtotal Cash from Operations | $1,192 | $1,232 | $2,235 | $2,305 | $2,420 | $2,541 | $2,624 | $2,783 | $2,920 | $3,022 | $3,127 | $3,158 | |
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 | $1,192 | $1,232 | $2,235 | $2,305 | $2,420 | $2,541 | $2,624 | $2,783 | $2,920 | $3,022 | $3,127 | $3,158 | |
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 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | $1,250 | |
Bill Payments | $31 | $932 | $937 | $964 | $993 | $1,023 | $1,054 | $1,068 | $1,115 | $1,164 | $1,172 | $1,179 | |
Subtotal Spent on Operations | $1,281 | $2,182 | $2,187 | $2,214 | $2,243 | $2,273 | $2,304 | $2,318 | $2,365 | $2,414 | $2,422 | $2,429 | |
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 | $1,281 | $2,182 | $2,187 | $2,214 | $2,243 | $2,273 | $2,304 | $2,318 | $2,365 | $2,414 | $2,422 | $2,429 | |
Net Cash Flow | ($89) | ($950) | $49 | $91 | $178 | $268 | $321 | $465 | $555 | $608 | $705 | $728 | |
Cash Balance | $1,161 | $212 | $260 | $351 | $529 | $798 | $1,118 | $1,584 | $2,138 | $2,746 | $3,451 | $4,179 |
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 | $1,250 | $1,161 | $212 | $260 | $351 | $529 | $798 | $1,118 | $1,584 | $2,138 | $2,746 | $3,451 | $4,179 |
Accounts Receivable | $0 | $976 | $1,925 | $1,979 | $2,078 | $2,182 | $2,290 | $2,369 | $2,477 | $2,649 | $2,750 | $2,778 | $2,805 |
Other Current Assets | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 |
Total Current Assets | $1,650 | $2,537 | $2,536 | $2,639 | $2,829 | $3,111 | $3,488 | $3,887 | $4,460 | $5,187 | $5,897 | $6,629 | $7,385 |
Long-term Assets | |||||||||||||
Long-term Assets | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Long-term Assets | $2,000 | $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 Assets | $3,650 | $4,537 | $4,536 | $4,639 | $4,829 | $5,111 | $5,488 | $5,887 | $6,460 | $7,187 | $7,897 | $8,629 | $9,385 |
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 | $901 | $905 | $931 | $959 | $988 | $1,018 | $1,031 | $1,076 | $1,125 | $1,132 | $1,140 | $1,147 |
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 | $901 | $905 | $931 | $959 | $988 | $1,018 | $1,031 | $1,076 | $1,125 | $1,132 | $1,140 | $1,147 |
Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Liabilities | $0 | $901 | $905 | $931 | $959 | $988 | $1,018 | $1,031 | $1,076 | $1,125 | $1,132 | $1,140 | $1,147 |
Paid-in Capital | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 |
Retained Earnings | ($1,250) | ($1,250) | ($1,250) | ($1,250) | ($1,250) | ($1,250) | ($1,250) | ($1,250) | ($1,250) | ($1,250) | ($1,250) | ($1,250) | ($1,250) |
Earnings | $0 | ($14) | ($19) | $58 | $221 | $473 | $820 | $1,207 | $1,734 | $2,413 | $3,114 | $3,839 | $4,587 |
Total Capital | $3,650 | $3,636 | $3,631 | $3,708 | $3,871 | $4,123 | $4,470 | $4,857 | $5,384 | $6,063 | $6,764 | $7,489 | $8,237 |
Total Liabilities and Capital | $3,650 | $4,537 | $4,536 | $4,639 | $4,829 | $5,111 | $5,488 | $5,887 | $6,460 | $7,187 | $7,897 | $8,629 | $9,385 |
Net Worth | $3,650 | $3,636 | $3,631 | $3,708 | $3,871 | $4,123 | $4,470 | $4,857 | $5,384 | $6,063 | $6,764 | $7,489 | $8,237 |
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5. Marketing plan. It's always a good idea to develop a marketing plan before you launch your business. Your marketing plan shows how you'll get the word out about your business, and it's an essential component of your business plan as well. The Paw Print Post focuses on four Ps: price, product, promotion, and place.
If you are planning to start a new online shopping website, the first thing you will need is a business plan. Use our online shopping website business plan example created using Upmetrics business plan software to start writing your business plan in no time.. Before you start writing your business plan for your new online shopping website, spend as much time as you can reading through some ...
The financial plan for this shopping mall project is based on an initial investment of $10 million. This investment will be used to renovate the mall, purchase new inventory, and hire personnel to manage the mall. The investments will be made in the following areas: Renovation: $3 million. Inventory: $2 million.
Strategize your marketing plan. Create a sales plan. Outline legal notes and financial considerations. 1. Give an executive summary. An executive summary is a one-to-two-page overview of your business. The purpose of an executive summary is to let stakeholders know what the business plan will contain.
How you establish loyalty beyond sales. After you figure out your technology methods, you have to come up with a technology budget. The business plan must also include the operations side of things. Determine who will be your manufacturer, secondary manufacturer, and shipping and fulfillment provider.
Create brief descriptions of the fulfillment, shipping, and payment collections processes. Now for some nitty-gritty stuff. Your operational plan may feel like the "boring" part of your business plan, but it's important - and it'll give your creative brain a break for a little while. 4. Market Analysis.
Shopify's free business plan template includes seven key elements typically found in the traditional business plan format: 1. Executive summary. This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team ...
A business plan is a strategic document that outlines a company's goals, strategies for achieving them, and the time frame for their achievement. It covers aspects like market analysis, financial projections, and organizational structure. Ultimately, a business plan serves as a roadmap for business growth and a tool to secure funding.
Add brief details of your ecommerce business, target market, problem, solution, service model, business goals, and financial figures in this section. Adapt a narrative tone to make it interesting and keep it highly informative. And, most importantly keep it within a limit of 1-2 pages. Say goodbye to boring templates.
A business plan is a document that describes a company, its products or services, how it will make a profit, its leadership and human resource, finance, operation model, and other details critical to its success. A great business plan helps companies set goals and strategies to achieve them and introduce them to investors.
Children's Website Business Plan. Cigar Manufacturing Business Plan. E-commerce Internet Business Plan. E-Commerce Retailer Business Plan. E-Commerce Start-Up Business Plan. Ecommerce Fabric Store Business Plan. Fish Breeder Business Plan. Home, Garden Gifts Online Business Plan. Horse Reseller Business Plan.
In your business plan, document how you will create a unique brand identity that sets your online boutique apart from competitors. This includes developing a memorable brand name, logo, and tagline, as well as defining your brand's values, voice, and visual style. Many stores offer customer retention incentives like loyalty programs.
Recently, the United States clothing market is experiencing a surge in demand for sustainable and ethically-produced clothes. This market is expected to show a volume growth of 1.6% in 2024. So, highlight the market size, trends, growth potential, competitive advantage, and how your business is different from the rest.
Download and edit this free clothing and retail sample business plan PDF or Word doc now, or visit Bplans' gallery of more than 550 sample business plans if you're looking for more options. There are plenty of reasons retailers can benefit from writing a business plan —you'll need one if you're seeking a loan or investment.
A free example of business plan for an online clothing store. Here, we will provide a concise and illustrative example of a business plan for a specific project. This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary.
The Plan. Our fashion store business plan is structured to cover all essential aspects needed for a comprehensive strategy. It outlines the store's operations, marketing strategy, market environment, competitors, management team, and financial forecasts. Executive Summary: Offers an overview of your fashion store's business concept, market ...
The average initial cost of opening a store can be anywhere from $48,000 USD to $150,000 USD, and this figure doesn't include an upfront payment of first month's rent or utilities. Having an accurate idea of your initial cost—and, as such, how much funding you need—is one of the key benefits of a thorough boutique business plan.
How to Write a Business Plan Step 1. Create a Cover Page. The first thing investors will see is the cover page for your business plan. Make sure it looks professional. A great cover page shows that you think about first impressions. A good business plan should have the following elements on a cover page:
The total cost for building a standard shopping mall - $4 million. Other start-up expenses including stationery - $1000. Phone and utility deposits - $3,500. Operational cost for the first 3 months (salaries of employees, payments of bills et al) - $200,000.
Here is a free business plan sample for a clothing brand project. January 29, 2024. If the fashion world excites you and you're eager to launch your own clothing brand but feel uncertain about the first steps, you've landed on the perfect page. In the content that follows, we will present to you a comprehensive sample business plan tailored for ...
A business plan is a strategic document that outlines a company's goals, strategies for achieving them, and the time frame for their achievement. It covers aspects like market analysis, financial projections, and organizational structure. Ultimately, a business plan serves as a roadmap for business growth and a tool to secure funding.
Let's go through the content of each section in more detail! 1. The executive summary. In your clothes shop's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.
This consultant will specialize in personal gifts and ideas for people who desire the latest fashions and/or gift solutions for individuals who are hard to shop for. This service will provide insight, research, purchases, and delivery in custom packaging. The focus of the company is the needs of the client.
You are experienced in balancing sales and structural business management. You thrive in complexity, influencing and getting buy-ins from both internal and external stakeholders. You love staying ahead of the game, developing broad market and competitor knowledge. You have an analytical approach when planning and undertaking financial responsibilities. You act as an expert providing direction ...
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