Business plan initial start-up cost estimation

Cost item Estimated start-up costs Percentage cost

Office supplies $ 5,000 2%Packaging supplies $ 2,000 1%Fish food $ 1,000 0%Seeds $ 1,000 0%3 months of management expense $ 18,000 6%Fish tanks (6 each 1000 gallon) $ 7,000 2%Growbeds (20 each) $ 30,000 10%Water pumps (2 each) $ 2,000 1%Air pumps (6 each) $ 6,000 2%Establish electricity $ 10,000 3%rafts $ 2,000 1%PVC piping/ fittings/ Misc maintenance $ 5,000 2%Property $ 75,000 25%Greenhouse maintenance/ climate control $ 25,000 8%Truck $ 20,000 7%Water monitoring equipment $ 8,000 3%Well maintenance and plumbing to tanks $ 5,000 2%Fencing (required) $ 10,000 3%Tractor with forks $ 20,000 7%Storage bins and freezers $ 15,000 5%Solar panels $ 35,000 12%

Estimated start-up expenses to fund $ 27,000 9%

Estimated start-up assets to fund $ 275,000 91%

Estimated total start-up costs $ 302,000 100%

Cost item Estimated start-up costs

Fish tanks (6 each 1000 gallon) $ 7,000 Growbeds (20 each) $ 30,000 Water pumps (2 each) $ 2,000 Air pumps (6 each) $ 6,000 Establish electricity $ 10,000 rafts $ 2,000 PVC piping/ fittings/ Misc maintenance $ 5,000 Property $ 75,000 Greenhouse maintenance/ climate control $ 25,000 Truck $ 20,000 Water monitoring equipment $ 8,000 Well maintenance and plumbing to tanks $ 5,000 Fencing (required) $ 10,000 Tractor with forks $ 20,000 Storage bins and freezers $ 15,000 Solar panels $ 35,000

Estimated start-up assets to fund $ 275,000

Cash flow Forecast Year 1

Month January February March

Receipts

Lettuce sales 100.00% 0 0 0

Total receipts 1 0 0 0

PaymentsSeeds 3.31% 400 400 400

Insurance 6.21% 750 750 750Electricity 1.66% 200 200 200

Office supplies 2.07% 250 250 250Packaging supplies 2.42% 0 0 0Maintenance Misc 4.14% 500 500 500Management/ labor/ medical ins 49.69% 6,000 6,000 6,000Farmers market fees 0.83% 100 100 100Fish food 2.07% 250 250 250Truck/ insurance 4.14% 500 500 500Business Loan repayment 12.42% 1,500 1,500 1,500Property 8.28% 1,000 1,000 1,000Water pumps (4 each) 0.69% 0 0 0Air pumps (4 each) 0.69% 0 0 0Well and plumbing to tanks 0.69% 0 0 0Rafts 0.69% 0 0 0

Total Payments 1 11,450 11,450 11,450

Cash flow surplus/defecit (-) 0 (11,450) (11,450) (11,450)

Opening cash balance 0 0 (11,450) (22,900)

Closing cash balance 0 (11,450) (22,900) (34,350)

Percentage of total

Cash flow Forecast Year 1

April May June July August September October November December

0 0 21,330 21,330 21,330 21,330 21,330 21,330 21,330

0 0 21,330 21,330 21,330 21,330 21,330 21,330 21,330

400 400 400 400 400 400 400 400 400

750 750 750 750 750 750 750 750 750200 200 200 200 200 200 200 200 200

250 250 250 250 250 250 250 250 2500 0 500 500 500 500 500 500 500

500 500 500 500 500 500 500 500 5006,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

100 100 100 100 100 100 100 100 100250 250 250 250 250 250 250 250 250500 500 500 500 500 500 500 500 500

1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,5001,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000

0 0 500 0 0 0 0 0 5000 0 500 0 0 0 0 0 5000 0 500 0 0 0 0 0 5000 0 500 0 0 0 0 0 500

11,450 11,450 13,950 11,950 11,950 11,950 11,950 11,950 13,950

(11,450) (11,450) 7,380 9,380 9,380 9,380 9,380 9,380 7,380

(34,350) (45,800) (57,250) (49,870) (40,490) (31,110) (21,730) (12,350) (2,970)

(45,800) (57,250) (49,870) (40,490) (31,110) (21,730) (12,350) (2,970) 4,410

Cash flow Forecast Year 1

Totals

149,310

149,310

4,800

9,0002,400

03,0003,5006,000

72,0001,2003,0006,000

18,00012,000

1,0001,0001,0001,000

144,900

4,410

4,410

4,410

Cash flow Forecast Year 2

Month Percentage January February March

Receipts

Lettuce sales (note1) 100.00% 21,330 21,330 21,330

Total receipts 1 21,330 21,330 21,330

PaymentsSeeds 2.71% 400 400 400

Insurance 5.07% 750 750 750Electricity 1.35% 200 200 200

Office supplies 1.69% 250 250 250Packaging supplies 3.38% 500 500 500Maintenance Misc 3.38% 500 500 500Management/ labor/ medical ins 40.59% 6,000 6,000 6,000Farmers market fees 0.68% 100 100 100Fish food 1.69% 250 250 250Truck/ insurance 3.38% 500 500 500Business Loan repayment 20.29% 3,000 3,000 3,000Property 13.53% 2,000 2,000 2,000Water pumps 0.56% 0 0 0Air pumps 0.56% 0 0 0Well and plumbing to tanks 0.56% 0 0 0Rafts 0.56% 0 0 0

Total Payments 14,450 14,450 14,450

Cash flow surplus/defecit (-) 0 6,880 6,880 6,880

Opening cash balance 4,410 4,410 11,290 18,170

Closing cash balance 4,410 11,290 18,170 25,050

Cash flow Forecast Year 2

April May June July August September October November

21,330 21,330 21,330 21,330 21,330 21,330 21,330 21,330

21,330 21,330 21,330 21,330 21,330 21,330 21,330 21,330

400 400 400 400 400 400 400 400

750 750 750 750 750 750 750 750200 200 200 200 200 200 200 200

250 250 250 250 250 250 250 250500 500 500 500 500 500 500 500500 500 500 500 500 500 500 500

6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000100 100 100 100 100 100 100 100250 250 250 250 250 250 250 250500 500 500 500 500 500 500 500

3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,0002,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000

0 0 500 0 0 0 0 00 0 500 0 0 0 0 00 0 500 0 0 0 0 00 0 500 0 0 0 0 0

14,450 14,450 16,450 14,450 14,450 14,450 14,450 14,450

6,880 6,880 4,880 6,880 6,880 6,880 6,880 6,880

25,050 31,930 38,810 43,690 50,570 57,450 64,330 71,210

31,930 38,810 43,690 50,570 57,450 64,330 71,210 78,090

Cash flow Forecast Year 2

December Totals

21,330 255,960

21,330 255,960

400 4,800

750 9,000200 2,400

0250 3,000500 6,000500 6,000

6,000 72,000100 1,200250 3,000500 6,000

3,000 36,0002,000 24,000

500 1,000500 1,000500 1,000500 1,000

16,450 177,400

4,880 78,560

78,090 82,970

82,970 82,970

Cash flow Forecast Year 3Month Pre-start January February March

Receipts

Lettuce sales (note1) 100.00% 21,330 21,330 21,330

Total receipts 1 21,330 21,330 21,330Payments

Seeds 3.26% 400 400 400

Insurance 6.11% 750 750 750Electricity 1.63% 200 200 200

Office supplies 2.04% 250 250 250Packaging supplies 4.07% 500 500 500Maintenance Misc 4.07% 500 500 500Management/ labor/ medical ins 48.85% 6,000 6,000 6,000Farmers market fees 0.81% 100 100 100Fish food 2.04% 250 250 250Truck/ insurance 4.07% 500 500 500Business Loan repayment 12.21% 1,500 1,500 1,500Property 8.14% 1,000 1,000 1,000Water pumps (4 each) 0.68% 0 0 0Air pumps (4 each) 0.68% 0 0 0Well and plumbing to tanks 0.68% 0 0 0Rafts 0.68% 0 0 0

Total Payments 11,950 11,950 11,950

Cash flow surplus/defecit (-) 0 9,380 9,380 9,380

Opening cash balance 82,970 82,970 92,350 101,730

Closing cash balance 82,970 92,350 101,730 111,110

Reference remarks

Cash flow Forecast Year 3April May June July August September October November

21,330 21,330 21,330 21,330 21,330 21,330 21,330 21,330

21,330 21,330 21,330 21,330 21,330 21,330 21,330 21,330

400 400 400 400 400 400 400 400

750 750 750 750 750 750 750 750200 200 200 200 200 200 200 200

250 250 250 250 250 250 250 250500 500 500 500 500 500 500 500500 500 500 500 500 500 500 500

6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000100 100 100 100 100 100 100 100250 250 250 250 250 250 250 250500 500 500 500 500 500 500 500

1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,5001,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000

0 0 500 0 0 0 0 00 0 500 0 0 0 0 00 0 500 0 0 0 0 00 0 500 0 0 0 0 0

11,950 11,950 13,950 11,950 11,950 11,950 11,950 11,950

9,380 9,380 7,380 9,380 9,380 9,380 9,380 9,380

111,110 120,490 129,870 137,250 146,630 156,010 165,390 174,770

120,490 129,870 137,250 146,630 156,010 165,390 174,770 184,150

Cash flow Forecast Year 3December Totals

21,330 255,960

21,330 255,960

400 4,800

750 9,000200 2,400

0250 3,000500 6,000500 6,000

6,000 72,000100 1,200250 3,000500 6,000

1,500 18,0001,000 12,000

500 1,000500 1,000500 1,000500 1,000

13,950 147,400

7,380 108,560

184,150 191,530

191,530 191,530

Tank/ fish data Gross fish salesNumber of tanks 6 Gross fish sales year 1 $26,730.00Gallon capacity of fish tanks 2350 Gross fish sales year 2 $53,460.00Adult fish per tank MAX 1500 Gross fish sales year 3 $53,460.00Fingerling fish per tank MAX 3300Estimate months until maturity 8Estimate average fish weight 2Average cost fish per lb. $2.50Estimated cost if fingerlings $0.50Estimated mortality rate 19%

Tank dataF1 tank F2 tank G1 tank G2 tank G3 tank G4 tank

Gallons 2350 2350 2350 2350 2350 2350fish per 3000 3000 1500 1500 1500 1500tank cost 2250 2250 2250 2250 2250 2250days in tank 60 60 180 180 180 180

Fish Rotation Fish salesMonth F1 tank F2 tank G1 tank G2 tank G3 tank G4 tank Fish on Ready Pounds Sales

Hand SaleJanuary 3300 January 3300 0 $0.00February 2970 February 2970 0 $0.00March 1485 1485 March 2970 0 $0.00April 3300 1485 1485 April 6270 0 $0.00May 2970 1485 1485 May 5940 0 $0.00June 1485 1485 1485 1485 June 5940 0 $0.00July 3300 1485 1485 1485 1485 July 9240 0 $0.00August 2970 1336.5 1336.5 1485 1485 August 8613 2673 5346 $13,365.00September 1485 1485 1485 1485 September 5940 0 $0.00October 3300 1485 1485 1485 1485 October 9240 0 $0.00

Tank source

November 2970 1485 1485 1336.5 1336.5 November 8613 2673 5346 $13,365.00December 1485 1485 1485 1485 December 5940 0 $0.00January 3300 1485 1485 1485 1485 January 9240 $0.00February 2970 1336.5 1336.5 1485 1485 February 8613 2673 5346 $13,365.00March 1485 1485 1485 1485 March 5940April 3300 1485 1485 1485 1485 April 9240May 2970 1485 1485 1336.5 1336.5 May 8613 2673 5346 $13,365.00June 1485 1485 1485 1485 June 5940July 3300 1485 1485 1485 1485 July 9240August 2970 1336.5 1336.5 1485 1485 August 8613 2673 5346 $13,365.00September 1485 1485 1485 1485 September 5940October 3300 1485 1485 1485 1485 October 9240November 2970 1485 1485 1336.5 1336.5 November 8613 2673 5346 $13,365.00December 1485 1485 1485 1485 December 5940January 3300 1485 1485 1485 1485 January 9240February 2970 1336.5 1336.5 1485 1485 February 8613 2673 5346 $13,365.00March 1485 1485 1485 1485 March 5940April 3300 1485 1485 1485 1485 April 9240May 2970 1485 1485 1336.5 1336.5 May 8613 2673 5346 $13,365.00June 1485 1485 1485 1485 June 5940July 3300 1485 1485 1485 1485 July 9240August 2970 1336.5 1336.5 1485 1485 August 8613 2673 5346 $13,365.00September 1485 1485 1485 1485 September 5940October 3300 1485 1485 1485 1485 October 9240November 2970 1485 1485 1336.5 1336.5 November 8613 2673 5346 $13,365.00December 1485 1485 1485 1485 December 5940

Fish tank configuration

Fish salesFingerlings Cost of

purchase Fingerlings3300 $1,650.00

$0.00$0.00

3300 $1,650.00$0.00$0.00

3300 $1,650.00$0.00$0.00

3300 $1,650.00

F1

G2

F2

G4G3

G1

$0.00$0.00

3300 $1,650.00$0.00$0.00

3300 $1,650.00$0.00$0.00

3300 $1,650.00$0.00$0.00

3300 $1,650.00$0.00$0.00

3300 $1,650.00$0.00$0.00

3300 $1,650.00$0.00$0.00

3300 $1,650.00$0.00$0.00

3300 $1,650.00$0.00$0.00

Lettuce/ growbed data Lettuce salesNumber of beds in use at one time 10Length of beds(ft) 50Width of beds(ft) 3 JanuaryLength of rafts(ft) 4 FebruaryWidth of rafts 3 MarchHoles per raft 72 AprilRafts per bed 12.5 MayTotal holes per bed 900 JuneHoles for total beds 9000 JulySquare feet of each bed 150 August

SeptemberSquare feet of all beds 1500 OctoberEstimated cost of organic lettuce (lb) $1.58 NovemberEstimated weight of head of lettuce (lb) 1.5 DecemberSelling price of a head of lettuce $2.37 JanuarySelling price for 1 raft of lettuce $170.64 FebruarySelling price per bed of lettuce $2,133.00 MarchSelling price for all beds of lettuce $21,330.00 April

MayGross lettuce sales June

Gross lettuce sales year 1 $149,310.00 JulyGross lettuce sales year 2 $255,960.00 AugustGross lettuce sales year 3 $255,960.00 September

OctoberNovemberDecemberJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

Lettuce sales Bed rotation

Month Year Jan Feb Mar Apr May Jun Jul Aug Sep0 Growbed 1

Plant

Harvest

Plant

Harvest

Plant

Harvest

Plant

Harvest

Plant

$0 Growbed 2$0 Growbed 3$0 Growbed 4$0 Growbed 5

$21,330 Growbed 6$21,330 Growbed 7$21,330 Growbed 8$21,330 Growbed 9$21,330 Growbed 10$21,330 Growbed 11

Plant

Harvest

Plant

Harvest

Plant

Harvest

Plant

Harvest

$21,330 $149,310.00 Growbed 12$21,330 Growbed 13$21,330 Growbed 14$21,330 Growbed 15$21,330 Growbed 16$21,330 Growbed 17$21,330 Growbed 18$21,330 Growbed 19$21,330 Growbed 20$21,330$21,330 Planted$21,330 Awaiting planting/ harvesting$21,330 $255,960.00$21,330$21,330$21,330$21,330$21,330$21,330$21,330$21,330$21,330$21,330$21,330$21,330 $255,960.00

Bed rotation

Oct Nov Dec

Harvest

Plant

Harvest

Plant

Harvest

Plant

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

SalesGross marginNet Profit

0

50,000

100,000

150,000

200,000

250,000

300,000

SalesGross marginNet Profit

0

50,000

100,000

150,000

200,000

250,000

300,000

SalesGross marginNet Profit

0

50,000

100,000

150,000

200,000

250,000

Year 1 Net ProfitsYear 2 Net ProfitsYear 3 Net Profits

0

50,000

100,000

150,000

200,000

250,000

300,000

SalesGross marginNet Profit

0

50,000

100,000

150,000

200,000

250,000

Year 1 Net ProfitsYear 2 Net ProfitsYear 3 Net Profits