garrett's bike shop
DESCRIPTION
A bike shop business plan in Eugene, Oregon.TRANSCRIPT
CONFIDENTIAL
GARRETT'S BIKE SHOPTOP-QUALITY GEAR, REPAIR, AND ADVICE FROM YOUR LOCAL CYCLING FANATICS
BUSINESS PLANPrepared January 2016
CONTACT INFORMATIONGarrett McKenzie 488 East 11th Avenue, Suite [email protected] Eugene, OR 97401, USAwww.universitycycleworks.com (555) 555-5555
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Executive Summary
Products we sellBicycles. We sell new bicycles, predominantly in the mountain bike style, retro-cruiser is a close second, and sport/touring/racing road bikes a distant third. We also sell some used bikes which we take in on trade as a service to our customers who are buying new bikes.
Accessories. We offer a wide variety of accessories. Locks, computer speedometers, fenders, cargo racks, comfortable seats, headlights, helmets, water bottles, panniers/back packs/messenger bags, child seats and trailers, bike storage racks, and auto roof rack systems all fall in this category.
Clothing. We rotate our clothing based on the season. For example, in Autumn, we stock jackets and Gore-Tex. In Winter, we offer helmet covers and liners, insulated jerseys and pants, gloves, and shoe covers. In the Spring, we start displaying summer jerseys, and racing shorts
Parts. Parts generally refers to pieces or materials necessary to the basic functioning of the bicycle. Generally, parts are installed during service and are an additional charge beyond the service fees.
Who We AreUniversity Cycle Works is an established bicycle specialty store, offering retail sales of new bicycles, parts and accessories, clothing, and maintenance and repair service. It is located in a heavily trafficked, university-focused area.
University Cycle Works is a subchapter S corporation, and is currently owned by Han Delbar. Hubert Wheeler, current assistant manager of University Cycle Works, is purchasing University Cycle Works from Delbar, acquiring existing inventory, and assuming outstanding accounts payable and dating program debts to suppliers, location lease, customer base and information, and University Cycle Works' business name and goodwill. The business will continue to be a subchapter S corporation. Exchange of ownership will occur on July 1, of this year.
Wheeler has been the assistant manager of University Cycle Works for five years, with an additional seven years of bicycle industry retail sales and service experience. He first began investigating the ownership of a bike business two years ago, however, the local Metroburg market seemed saturated with shops. Realizing that a more practical option would be to buy an existing shop, he approached his current boss. The result of two years of negotiations will be the sale of University Cycle Works to Wheeler, taking
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effect July 1st. The goal will be a seamless transfer of ownership, with staff, bike lines, location, and operations unchanged.
Who We Sell ToThe primary market for University Cycle Works is the university student population, which normally has a turnover/growth of approximately 25% each year. The secondary market is the university faculty and staff, and the tertiary market is the greater Metroburg community.
Financial SummaryThis financial plan was developed based upon previous years' data for the existing store, tracking trends in revenues and expenses. A five-month track of sales, accounts receivables and payables, and inventory from a year-end benchmark was made. The current owner, Han Delbar, has sold the business to Hubert Wheeler for $140,000. The seller, buyer, and the accountant worked together on the plan to balance optimism with reality. An attorney was consulted on specifics of the sale contract.
Sales for the first year of new ownership are projected above $500,000, with a gross margin of almost 65%. Profitability is expected at the mid-way point of the fiscal year, in March.
Building Priorities
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Company OverviewCompany OverviewUniversity Cycle Works is a subchapter S corporation, and is currently owned by Han Delbar. Hubert Wheeler, current assistant manager of University Cycle Works, is purchasing University Cycle Works from Delbar, acquiring existing inventory, and assuming outstanding accounts payable and dating program debts to suppliers, location lease, customer base and information, and University Cycle Works' business name and goodwill. The business will continue to be a subchapter S corporation. Exchange of ownership will occur on July 1st.
To establish an accurate accounting of existing inventory and outstanding debts, the prior year's closing inventory and year end financial statement as reviewed by the business' CPA were used as benchmarks. The sales, orders placed, deliveries received, and accounts payable payments made have been tracked each month, and a trial balance of these will be run June 15 to establish the final purchase price for inventory on hand, and the amount of Accounts Payable assumed. The figures presented here are conservative, realistic estimates used for planning purposes.
Management TeamThe current assistant manager, Hubert Wheeler, is buying University Cycle Works, and will manage the business. He has a B.S. degree in Economics and an M.A. in Comparative Literature. His passion however has always been cycling. He originally worked at his local bike shop when he was in college. After several years trying to find suitable work in his degree field, he gave up chasing the chimera of these fields and decided to work with something substantial, and returned to his youthful enjoyment of bicycles.
He attended two of the major bicycle mechanic training programs, at New England Bicycle Academy and the United Bicycle Institute. These courses covered mechanical service and maintenance, frame building and repair, wheel building, and shop organization, sales, and management. He has 12 years of progressively responsible experience in bicycle shops with the last five at University Cycle Works.
One of the other full-time employees, Valerie Pede has expressed interest in learning more about the bike industry and she will be promoted to be the new assistant manager. Val has been with us for three years. She graduated from State University at Metroburg with tandem B.S. degrees in Exercise Physiology and Recreation Management. She loves to cycle, and has kept her contacts at the university active. Her knowledge and expertise draws many women bicyclists to our store where they know they will get the care and attention which is usually missing from traditionally male staffed shops.
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The current owner, Han Delbar will be available as a resource.
Additional resources are:
• Order Out of Chaos, our full-cycle bookkeeping service.
• Continental Shelf Bank.
• Newt Ria, a partner at Weasel, Stoat, Muskrat who advised on the sale/purchase arrangements.
Mission Statement
Company History
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Products and ServicesProducts and ServicesRetail Sales
1. Bicycles. We sell new bicycles, predominantly in the mountain bike style, retro-cruiser is a close second, and sport/touring/racing road bikes a distant third. We also sell some used bikes which we take in on trade as a service to our customers who are buying new bikes.
2. Accessories. We offer a wide variety of accessories. Locks, computer speedometers, fenders, cargo racks, comfortable seats, headlights, helmets, water bottles, panniers/back packs/messenger bags, child seats and trailers, bike storage racks, and auto roof rack systems all fall in this category. It is not possible to carry every possible accessory, so we try to carefully chose those which will be most useful or desired by our target markets. When we receive special requests for a new item, we'll often order several to test the local demand, and if adequate, will add it to our regular stock.
3. Clothing. Clothing appeals to all cyclists, whether it is a logo emblazoned T-shirt or a piece of waterproof rainwear. At University Cycle Works, we rotate our clothing based on the season. Just before the autumn rains we stock jackets and Gore-Tex. Come winter we offer helmet covers and liners, insulated jerseys and pants, gloves, and shoe covers. And when spring arrives and the first crocus appears through the melting snow, we start displaying summer jerseys, and racing shorts.
4. Parts. Parts generally refers to pieces or materials necessary to the basic functioning of the bicycle. Generally, parts are installed during service [see below] and are an additional charge beyond the service fees. Some, like cranksets, pedals, tires, derailleurs or brakes, are both integral parts and upgrade accessories. Others, such as headsets, bottom brackets, spokes, chains, cables, and cable housings are strictly maintenance, though some will be sold to cyclists who prefer to work on their bikes themselves.
Service
University Cycle Works is a full-service specialized bicycle shop. Our service offering includes, but is not limited to:
• Free 30-day/100-mile tune up with every new bike sold.
• Quick repairs for flat tires, broken chains, brake cables, etc.
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• Scheduled tune-ups, replacement of all bearing surfaces, repacking of lubricants, and adjustments of derailleurs and brake systems.
• Installation of all accessories.
• Authorized warranty repairs on the bikes.
• Custom wheel building.
• Frameset repairs by outsourcing to Via Porco custom frame builders.
CompetitorsMarket Problem: No full-service bike shop focused on servicing the university market.
Setting aside the discount department stores, University Cycle Works has the following direct competitors.
• One local multi-sport store at the local megamall
• One statewide chain of bicycle shops which started out as Schwinn-only shops, but has had to take on other brands and products.
• One used bike store that has made a fine business reputation for itself, dealing strictly in used bikes.
• Three local, including the oldest shop in town.
• One local multi-location chain, that has specialized in opening shops in small local malls in areas of new housing development.
• Several garage mechanics offering service only.
None of these competitors is within two miles of the university, and so, for the present, we have first access to our chosen market segments. One of the local shops has chosen to target the burgeoning young road racer segment, another is focusing on recumbents and folding travel cycles.
The two strongest competitors are the Oldest Shop in Town which carries the cache of being the most stable, and most well known -- a Metroburg institution. The Mountain Bike Specialist targets the same athletic, young, performance and image conscious rider that we target in the university student population. These cyclists are particular about their bike and will go where the name brand they want is sold, or will try every bike and then buy the one that fits best, regardless of store loyalty.
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Products and ServicesMarket NeedsOur market niche has several needs which we strive to meet:
• Quality bikes at several price points.
• Various styles and sizes of bikes, leaning heavily toward the styles most popular with the student population.
• Range of accessories most practical in the local setting, such as locks, fenders, lights, tires, seats, rainwear, etc.
• Plenty of replacement components and service parts.
• Friendly personal relationships between cyclists and shop staff.
• Prompt and convenient service from on-the-spot flat tire fix, to drop in repairs, to scheduled major maintenance, where the rider can drop their bike off, head to class or work, and be assured that their bike will be ready for the ride home.
Market OverviewThe predominant market segment for University Cycle Works is the university student population. We also cater to the university staff, local business employees, and, along with every other bicycle shop in town, the greater Metroburg population.
In part the local market is driven by the lack of parking. Bicycle transportation is more economical, as well as time and space efficient in the university neighborhood. Part of the market is price constrained and another part is hooked on the latest fad, be it frame style, number of gears, or portrayed image. As long as new students arrive each year, our market segment growth is assured.
Key CustomersThe university students are our main target market.
1. They are mostly undergraduates, so there is a 25% annual turnover.
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2. The lack of parking in the university area and the general ease of bike mobility throughout Metroburg motivates them to use bicycles as inexpensive transport. Athletic pursuits draw them, and the nearby areas for use of mountain and trail bikes provides a great place to ride.
3. There is a new enthusiasm for retro Cruiser bikes, and higher tech cruiser-style bikes with multiple gears, good brakes, etc. among the college age population.
4. Also, main market for racks, locks, throughout, pannier/bags, fenders, rainwear, etc.
5. They want convenience for sales and service.
University employees are another prime market segment.
1. Small growth and turnover, but on the whole, the group is pretty stable.
2. Are willing to commute by bicycle to work.
3. They want a stable, comfortable bike and a full range of accessories.
4. When their bikes need service and maintenance, local drop off/pickup convenience is important.
5. They have families who ride bicycles also, and will patronize a shop that gives personal service.
Greater Metroburg population.
This segment has a choice of going to any bike shop in the area, and will probably choose a shop located closer to their home. They are not the main target market segment of University Cycle Works, and we market to them casually, only as a collateral effect to our university-oriented efforts.
Market TrendsTrends in the bicycle industry usually last for a time. Some of them have been:
• 1960s - Big rush on 10 speeds.
• 1970s - Touring bikes became popular.
• 1980s and 1990s - Huge growth of mountain bikes
• 1990s - The rumored but exaggerated death of "road bikes" and the unfulfilled prophesy of a boom in the tandem market.
• 2000s - Popularity of retro 'cruisers.'
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Market GrowthThe bulk of University Cycle Works' market growth is the regular matriculation of students from the State University in Metroburg. While the overall market numbers change in small increments, usually less than 10%, the market has a turnover of 22-26% yearly. In a longer time frame the number of students and the number of university employees grows and shrinks with economic changes, and with population demographics.
For the next three years we foresee a steady growth in the overall university population as well as continued growth of Metroburg as a desirable place to live.
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Financial PlanRevenue ForecastRevenue by Month
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Revenue Forecast Table
FY2014 FY2015 FY2016
Revenue
New Bikes $232,000 $250,000 $275,000
Accessories and Parts $143,000 $172,500 $198,375
Clothing $68,000 $78,200 $89,930
University Patrol Service Contract $1,200 $1,380 $1,587
Repair and Service $36,000 $36,000 $36,000
Total Revenue $480,200 $538,080 $600,892
Direct Cost
Accessories and Parts $71,500 $86,250 $99,188
New Bikes $157,760 $170,000 $187,000
Clothing $23,800 $27,370 $31,476
University Patrol Service Contract
Repair and Service
Total Direct Cost $253,060 $283,620 $317,664
Gross Margin $227,140 $254,460 $283,228
Gross Margin % 47% 47% 47%
About the Revenue Forecast
Sales vary season to season and with the academic school year. Surprisingly, summer is the slowest season because there are fewer students in town. Business picks up in August with the return of the students and staff, and flourishes in September. Accessories and rainwear sales increase in the autumn and early winter. Repairs and maintenance are steady. Holiday sales are brisk, though generally leaning again to accessories, parts, rainwear, gloves, helmets, headlights, etc. Winter sales are moderate, and then pick up in springtime as people put away their skies and look forward to local outdoor activities, longer daylight hours, and drier weather.
We have three large sales promotions each year.
1. Back to school in August/September. This is our biggest sale of the year. New bicycles, locks, helmets, racks, fenders, backpacks. We always search for a special purchase of good quality, but value priced bikes for this sale such as year end models, slow sellers, new line looks to break into the market. These bikes will almost always sell out to students seeking great values.
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2. Year-end holidays. This also overlaps the beginning of Winter term. The retail market demands some participation in this annual buying frenzy, yet, this sale produces lower revenue than our other two events. We sell fewer bikes, and more accessories and clothing.
3. Spring. This coincides with both the return of nice weather, and beginning of Spring term. We feature new bicycles, and repair/maintenance/tune-up specials. It is important to us to have a good selection on hand at this time. When people decide they want that new bike, they want it now. If we don't have the bike then, and make the sale immediately, many riders will decide that they really can get another season out of their old bike, and will spend their discretionary income on some other purchase.
Additionally, we have some special buys available for June graduation.
We get some small monthly revenue from these sources:
• Sale of used bicycles taken in on trade.
• Repair classes taught at the University Outdoor Center, once a term.
• Monthly service contract for repairs and parts with the University Security Office.
Personnel PlanPersonnel Table
FY2014 FY2015 FY2016
Valerie Pede $32,000 $32,000 $32,000
Dee Ray $23,400 $24,570 $25,799
Jean-Baptiste Kape $19,800 $20,790 $21,830
Grocery Man $3,000 $12,000 $12,000
Total $78,200 $89,360 $91,629
About the Personnel Plan
The staff will consist of Hubert Wheeler, the new owner, Valerie Pede, and two other full-time employees Dee Ray, and Jean-Baptiste Kape.
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To meet the need for additional help during the year, University Cycle Works hires two to four part-time employees from the university population. We look for people who are enthusiastic about cycling, and who have a mechanical aptitude. Some of these folks have worked for us throughout their entire college sojourn. Their hours vary depending on the store's needs and their class schedules.
BudgetBudget Table
FY2014 FY2015 FY2016
Operating Expenses
Salary $78,200 $89,360 $91,629
Employee Related Expenses $19,550 $22,340 $22,907
Advertising
Insurance $9,604 $10,762 $12,018
Leased Equipment $1,800 $1,800 $1,800
Rent $54,000 $54,000 $54,000
Utilities $3,600 $3,600 $3,600
Rent $18,000 $18,000 $18,000
Office Expense
Total Operating Expenses $184,754 $199,862 $203,954
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Expenses by Month
About the Budget
Our salary totals, employee benefits and monthly expense projections are included in the Budget. A rent deposit was made to the landlord as a security during the transfer of the business to the new owner, in order to keep the current lease agreement. If, at the end of the first year, the business is still solvent, the deposit will be applied to the twelfth month's rent.
Startup Costs
Our estimated starting expenses total $13,300. They include, legal and accounting costs to transfer ownership of the business, stationery, etc., promotional materials, insurance, and the down payment toward the purchase of the business.
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Loans and InvestmentsLoans and Investments Table
FY2014 FY2015 FY2016
LoanLoan at 7% interest for 60 mos. $50,000
LoanLoan at 7% interest for 60 mos. $90,000
Total Amount Received $90,000 $50,000
Sources of Funds
The current owner, Han Delbar, has sold the business to Hubert Wheeler for $140,000. The value of the existing company, its reputation, assumption of the business name, existing client base, etc. is recognized as part of the purchase. It appears as a start-up expense in the following table as Down Payment. The balance appears as a long-term liability.
Wheeler is investing some of his own money, partially a home equity loan, in the company. An additional amount is being invested, as short-term interest free loans, by family members. This plan calls for these loans to be repaid in the first year.
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Cash Flow AssumptionsCash Flow Assumptions
Cash Inflow
% of Sales on Credit 51%
Avg Collection Period (Days) 15
Cash Outflow
% of Purchases on Credit 50%
Avg Payment Delay (Days) 30
Inventory
Months to Keep on Hand 3
Minimum Inventory Purchase $5,000
About the Cash Flow Assumptions
We have accounts payable set at 45 days. We also keep approximately one month's worth of inventory on hand, with a minimum purchase of $1,000, on average. We had a starting inventory balance for this plan at $17,000 from the previous owner, which carried forward with the business transfer.
We do not sell on credit.
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Financial StatementsProfit and Loss StatementProfit and Loss Statement
FY2014 FY2015 FY2016
Revenue $480,200 $538,080 $600,892
Direct Costs $253,060 $283,620 $317,664
Gross Margin $227,140 $254,460 $283,228
Gross Margin % 47% 47% 47%
Operating Expenses
Salary $78,200 $89,360 $91,629
Employee Related Expenses $19,550 $22,340 $22,907
Advertising
Insurance $9,604 $10,762 $12,018
Leased Equipment $1,800 $1,800 $1,800
Rent $54,000 $54,000 $54,000
Utilities $3,600 $3,600 $3,600
Rent $18,000 $18,000 $18,000
Office Expense
Total Operating Expenses $184,754 $199,862 $203,954
Operating Income $42,386 $54,598 $79,274
Interest Incurred $5,364 $6,994 $6,391
Depreciation and Amortization $13,814 $15,472 $15,471
Income Taxes $3,481 $4,819 $8,610
Total Expenses $460,473 $510,767 $552,090
Net Profit $19,727 $27,313 $48,802
Net Profit / Sales 4% 5% 8%
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Gross Margin by Year
Net Profit (or Loss) by Year
About the Profit and Loss Statement
In negotiating the smooth transition in ownership, the landlord agreed to continue the current lease unchanged. As surety, one month's rent was required as a deposit at the time of sale. This is shown in the
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starting expenses. Further, the landlord agreed that if, after 11 months operation the new company was solvent and current in lease payments, that the deposit could be applied to the twelfth month's rent.
The mid-summer months of July and August are slow months when a large part of the university population is gone on summer break. The mid-winter months are traditionally loss months. The weather is the most inclement and discretionary income is at its lowest after the holiday binges. However, we try to keep our entire staff on board to work on our own inventory, store refurbishing, and staff training.
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Balance SheetBalance Sheet
As of Period's End Starting Balances FY2014 FY2015 FY2016
Cash $0 $23,963 $88,222 $128,585
Accounts Receivable $11,838 $11,850 $13,220
Inventory $17,000 $70,905 $79,416 $79,419
Other Current Assets
Total Current Assets $17,000 $106,706 $179,488 $221,224
Long-Term Assets $61,500 $77,700 $77,700 $77,700
Accumulated Depreciation ($13,814) ($29,286) ($44,757)
Total Long-Term Assets $61,500 $63,886 $48,414 $32,943
Total Assets $78,500 $170,592 $227,902 $254,167
Accounts Payable $27,800 $15,486 $16,901 $16,952
Income Taxes Payable $3,481 $4,819 $8,610
Sales Taxes Payable $5,440 $5,000 $5,500
Short-Term Debt $16,609 $26,873 $28,817
Prepaid Revenue
Total Current Liabilities $27,800 $41,016 $53,593 $59,879
Long-Term Debt $59,153 $76,579 $47,762
Total Liabilities $27,800 $100,169 $130,172 $107,641
Paid-in Capital $25,000 $25,000 $25,000 $25,000
Retained Earnings $25,700 $25,700 $45,423 $72,730
Earnings $19,723 $27,307 $48,796
Total Owner's Equity $50,700 $70,423 $97,730 $146,526
Total Liabilities & Equity $78,500 $170,592 $227,902 $254,167
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About the Balance Sheet
Our goal is to repay the loans from our family within the first year, and we project paying Han Delbar his entire purchase price within five years. Other balance sheet information is shown in the table.
Cash Flow StatementCash Flow Statement
FY2014 FY2015 FY2016
Net Cash Flow from Operations
Net Profit $19,727 $27,313 $48,802
Depreciation and Amortization $13,814 $15,472 $15,471
Change in Accounts Receivable ($11,840) ($11) ($1,368)
Change in Inventory ($53,905) ($8,511) ($3)
Change in Accounts Payable ($12,319) $1,411 $51
Change in Income Tax Payable $3,481 $1,338 $3,791
Change in Sales Tax Payable $5,440 ($440) $500
Change in Prepaid Revenue
Net Cash Flow from Operations ($35,602) $36,572 $67,244
Investing & Financing
Assets Purchased or Sold ($16,200)
Investments Received
Change in Long-Term Debt $59,153 $17,426 ($28,817)
Change in Short-Term Debt $16,609 $10,264 $1,944
Dividends & Distributions
Net Cash Flow from Investing & Financing $59,562 $27,690 ($26,873)
Cash at Beginning of Period $3 $23,960 $88,214
Net Change in Cash $23,960 $64,262 $40,371
Cash at End of Period $23,963 $88,222 $128,585
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Cash Flow by Month
Cash Flow by Year
About the Cash Flow Statement
The cash flow reflects the seasonality of bicycle sales and the varying payment programs. At times, the business is inventory heavy, stocking up for the beginning of school rush, or specific sales. At other times,
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there is negative cash flow as long-term accounts payable, net 90, net 60 payments coincide with regular net 30 invoices.
Starting BalancesAssets
Cash
Accounts Receivable
Inventory $17,000
Long-Term Assets $61,500
Accumulated Depreciation
Liabilities
Accounts Payable $27,800
Corporate Taxes Payable
Sales Taxes Payable
Short-Term Debt
Long-Term Debt
Capital
Paid-In Capital $25,000
Retained Earnings $25,700
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AppendixRevenue ForecastRevenue Forecast Table (With Monthly Detail)
FY2014 Oct '13 Nov '13 Dec '13 Jan '14 Feb '14 Mar '14 Apr '14 May '14 Jun '14 Jul '14 Aug '14 Sep '14
Revenue
New Bikes $17,000 $14,000 $19,000 $18,000 $18,000 $20,000 $18,000 $19,000 $21,000 $22,000 $23,000 $23,000
Accessories and Parts $11,000 $12,500 $14,000 $11,000 $10,000 $15,000 $9,500 $8,000 $13,000 $15,000 $11,000 $13,000
Clothing $3,500 $3,500 $4,500 $6,500 $10,500 $7,500 $4,500 $3,500 $4,500 $6,500 $7,500 $5,500
University Patrol Service Contract
$100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Repair and Service $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Total Revenue $34,600 $33,100 $40,600 $38,600 $41,600 $45,600 $35,100 $33,600 $41,600 $46,600 $44,600 $44,600
Direct Cost
Accessories and Parts $5,500 $6,250 $7,000 $5,500 $5,000 $7,500 $4,750 $4,000 $6,500 $7,500 $5,500 $6,500
New Bikes $11,560 $9,520 $12,920 $12,240 $12,240 $13,600 $12,240 $12,920 $14,280 $14,960 $15,640 $15,640
Clothing $1,225 $1,225 $1,575 $2,275 $3,675 $2,625 $1,575 $1,225 $1,575 $2,275 $2,625 $1,925
University Patrol Service Contract
Repair and Service
Total Direct Cost $18,285 $16,995 $21,495 $20,015 $20,915 $23,725 $18,565 $18,145 $22,355 $24,735 $23,765 $24,065
Gross Margin $16,315 $16,105 $19,105 $18,585 $20,685 $21,875 $16,535 $15,455 $19,245 $21,865 $20,835 $20,535
Gross Margin % 47% 49% 47% 48% 50% 48% 47% 46% 46% 47% 47% 46%
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FY2015 Oct '14 Nov '14 Dec '14 Jan '15 Feb '15 Mar '15 Apr '15 May '15 Jun '15 Jul '15 Aug '15 Sep '15
Revenue
New Bikes $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,833 $20,834 $20,834 $20,834 $20,834
Accessories and Parts $14,375 $14,375 $14,375 $14,375 $14,375 $14,375 $14,375 $14,375 $14,375 $14,375 $14,375 $14,375
Clothing $6,516 $6,516 $6,516 $6,516 $6,517 $6,517 $6,517 $6,517 $6,517 $6,517 $6,517 $6,517
University Patrol Service Contract
$115 $115 $115 $115 $115 $115 $115 $115 $115 $115 $115 $115
Repair and Service $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Total Revenue $44,839 $44,839 $44,839 $44,839 $44,840 $44,840 $44,840 $44,840 $44,841 $44,841 $44,841 $44,841
Direct Cost
Accessories and Parts $7,188 $7,188 $7,188 $7,188 $7,188 $7,188 $7,188 $7,188 $7,188 $7,188 $7,188 $7,188
New Bikes $14,166 $14,166 $14,166 $14,166 $14,166 $14,166 $14,166 $14,166 $14,167 $14,167 $14,167 $14,167
Clothing $2,281 $2,281 $2,281 $2,281 $2,281 $2,281 $2,281 $2,281 $2,281 $2,281 $2,281 $2,281
University Patrol Service Contract
Repair and Service
Total Direct Cost $23,635 $23,635 $23,635 $23,635 $23,635 $23,635 $23,635 $23,635 $23,636 $23,636 $23,636 $23,636
Gross Margin $21,204 $21,204 $21,204 $21,204 $21,205 $21,205 $21,205 $21,205 $21,205 $21,205 $21,205 $21,205
Gross Margin % 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 47%
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FY2016 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
Revenue
New Bikes $22,916 $22,916 $22,916 $22,916 $22,917 $22,917 $22,917 $22,917 $22,917 $22,917 $22,917 $22,917
Accessories and Parts $16,531 $16,531 $16,531 $16,531 $16,531 $16,531 $16,531 $16,531 $16,531 $16,532 $16,532 $16,532
Clothing $7,494 $7,494 $7,494 $7,494 $7,494 $7,494 $7,494 $7,494 $7,494 $7,494 $7,495 $7,495
University Patrol Service Contract
$132 $132 $132 $132 $132 $132 $132 $132 $132 $133 $133 $133
Repair and Service $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Total Revenue $50,073 $50,073 $50,073 $50,073 $50,074 $50,074 $50,074 $50,074 $50,074 $50,076 $50,077 $50,077
Direct Cost
Accessories and Parts $8,266 $8,266 $8,266 $8,266 $8,266 $8,266 $8,266 $8,266 $8,266 $8,266 $8,266 $8,266
New Bikes $15,583 $15,583 $15,583 $15,583 $15,584 $15,584 $15,584 $15,584 $15,584 $15,584 $15,584 $15,584
Clothing $2,623 $2,623 $2,623 $2,623 $2,623 $2,623 $2,623 $2,623 $2,623 $2,623 $2,623 $2,623
University Patrol Service Contract
Repair and Service
Total Direct Cost $26,472 $26,472 $26,472 $26,472 $26,473 $26,473 $26,473 $26,473 $26,473 $26,473 $26,473 $26,473
Gross Margin $23,601 $23,601 $23,601 $23,601 $23,601 $23,601 $23,601 $23,601 $23,601 $23,603 $23,604 $23,604
Gross Margin % 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 47%
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FY2014 FY2015 FY2016
Revenue
New Bikes $232,000 $250,000 $275,000
Accessories and Parts $143,000 $172,500 $198,375
Clothing $68,000 $78,200 $89,930
University Patrol Service Contract $1,200 $1,380 $1,587
Repair and Service $36,000 $36,000 $36,000
Total Revenue $480,200 $538,080 $600,892
Direct Cost
Accessories and Parts $71,500 $86,250 $99,188
New Bikes $157,760 $170,000 $187,000
Clothing $23,800 $27,370 $31,476
University Patrol Service Contract
Repair and Service
Total Direct Cost $253,060 $283,620 $317,664
Gross Margin $227,140 $254,460 $283,228
Gross Margin % 47% 47% 47%
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Personnel PlanPersonnel Table (With Monthly Detail)
FY2014 Oct '13 Nov '13 Dec '13 Jan '14 Feb '14 Mar '14 Apr '14 May '14 Jun '14 Jul '14 Aug '14 Sep '14
Valerie Pede $2,666 $2,666 $2,666 $2,666 $2,667 $2,667 $2,667 $2,667 $2,667 $2,667 $2,667 $2,667
Dee Ray $1,950 $1,950 $1,950 $1,950 $1,950 $1,950 $1,950 $1,950 $1,950 $1,950 $1,950 $1,950
Jean-Baptiste Kape $1,650 $1,650 $1,650 $1,650 $1,650 $1,650 $1,650 $1,650 $1,650 $1,650 $1,650 $1,650
Grocery Man $1,000 $1,000 $1,000
Total $6,266 $6,266 $6,266 $6,266 $6,267 $6,267 $6,267 $6,267 $6,267 $7,267 $7,267 $7,267
FY2015 Oct '14 Nov '14 Dec '14 Jan '15 Feb '15 Mar '15 Apr '15 May '15 Jun '15 Jul '15 Aug '15 Sep '15
Valerie Pede $2,666 $2,666 $2,666 $2,666 $2,667 $2,667 $2,667 $2,667 $2,667 $2,667 $2,667 $2,667
Dee Ray $2,047 $2,047 $2,047 $2,047 $2,047 $2,047 $2,048 $2,048 $2,048 $2,048 $2,048 $2,048
Jean-Baptiste Kape $1,732 $1,732 $1,732 $1,732 $1,732 $1,732 $1,733 $1,733 $1,733 $1,733 $1,733 $1,733
Grocery Man $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Total $7,445 $7,445 $7,445 $7,445 $7,446 $7,446 $7,448 $7,448 $7,448 $7,448 $7,448 $7,448
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FY2016 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
Valerie Pede $2,666 $2,666 $2,666 $2,666 $2,667 $2,667 $2,667 $2,667 $2,667 $2,667 $2,667 $2,667
Dee Ray $2,149 $2,150 $2,150 $2,150 $2,150 $2,150 $2,150 $2,150 $2,150 $2,150 $2,150 $2,150
Jean-Baptiste Kape $1,819 $1,819 $1,819 $1,819 $1,819 $1,819 $1,819 $1,819 $1,819 $1,819 $1,820 $1,820
Grocery Man $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Total $7,634 $7,635 $7,635 $7,635 $7,636 $7,636 $7,636 $7,636 $7,636 $7,636 $7,637 $7,637
FY2014 FY2015 FY2016
Valerie Pede $32,000 $32,000 $32,000
Dee Ray $23,400 $24,570 $25,799
Jean-Baptiste Kape $19,800 $20,790 $21,830
Grocery Man $3,000 $12,000 $12,000
Total $78,200 $89,360 $91,629
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BudgetBudget Table (With Monthly Detail)
FY2014 Oct '13 Nov '13 Dec '13 Jan '14 Feb '14 Mar '14 Apr '14 May '14 Jun '14 Jul '14 Aug '14 Sep '14
Operating Expenses
Salary $6,266 $6,266 $6,266 $6,266 $6,267 $6,267 $6,267 $6,267 $6,267 $7,267 $7,267 $7,267
Employee Related Expenses
$1,567 $1,567 $1,567 $1,567 $1,567 $1,567 $1,567 $1,567 $1,567 $1,817 $1,817 $1,817
Advertising
Insurance $692 $662 $812 $772 $832 $912 $702 $672 $832 $932 $892 $892
Leased Equipment $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Rent $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Utilities $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Rent $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Office Expense
Total Operating Expenses
$14,975 $14,945 $15,095 $15,055 $15,116 $15,196 $14,986 $14,956 $15,116 $16,466 $16,426 $16,426
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FY2015 Oct '14 Nov '14 Dec '14 Jan '15 Feb '15 Mar '15 Apr '15 May '15 Jun '15 Jul '15 Aug '15 Sep '15
Operating Expenses
Salary $7,445 $7,445 $7,445 $7,445 $7,446 $7,446 $7,448 $7,448 $7,448 $7,448 $7,448 $7,448
Employee Related Expenses
$1,861 $1,861 $1,861 $1,861 $1,862 $1,862 $1,862 $1,862 $1,862 $1,862 $1,862 $1,862
Advertising
Insurance $897 $897 $897 $897 $897 $897 $897 $897 $897 $897 $897 $897
Leased Equipment $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Rent $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Utilities $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Rent $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Office Expense
Total Operating Expenses
$16,653 $16,653 $16,653 $16,653 $16,655 $16,655 $16,657 $16,657 $16,657 $16,657 $16,657 $16,657
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FY2016 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
Operating Expenses
Salary $7,634 $7,635 $7,635 $7,635 $7,636 $7,636 $7,636 $7,636 $7,636 $7,636 $7,637 $7,637
Employee Related Expenses
$1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909
Advertising
Insurance $1,001 $1,001 $1,001 $1,001 $1,001 $1,001 $1,001 $1,001 $1,001 $1,002 $1,002 $1,002
Leased Equipment $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Rent $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Utilities $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Rent $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Office Expense
Total Operating Expenses
$16,994 $16,995 $16,995 $16,995 $16,996 $16,996 $16,996 $16,996 $16,996 $16,997 $16,998 $16,998
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FY2014 FY2015 FY2016
Operating Expenses
Salary $78,200 $89,360 $91,629
Employee Related Expenses $19,550 $22,340 $22,907
Advertising
Insurance $9,604 $10,762 $12,018
Leased Equipment $1,800 $1,800 $1,800
Rent $54,000 $54,000 $54,000
Utilities $3,600 $3,600 $3,600
Rent $18,000 $18,000 $18,000
Office Expense
Total Operating Expenses $184,754 $199,862 $203,954
Loans and InvestmentsLoans and Investments Table (With Monthly Detail)
FY2014 Oct '13 Nov '13 Dec '13 Jan '14 Feb '14 Mar '14 Apr '14 May '14 Jun '14 Jul '14 Aug '14 Sep '14
LoanLoan at 7% interest for 60 mos.
LoanLoan at 7% interest for 60 mos.
$90,000
Total Amount Received
$90,000
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FY2015 Oct '14 Nov '14 Dec '14 Jan '15 Feb '15 Mar '15 Apr '15 May '15 Jun '15 Jul '15 Aug '15 Sep '15
LoanLoan at 7% interest for 60 mos.
$50,000
LoanLoan at 7% interest for 60 mos.
Total Amount Received
$50,000
FY2016 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
LoanLoan at 7% interest for 60 mos.
LoanLoan at 7% interest for 60 mos.
Total Amount Received
FY2014 FY2015 FY2016
LoanLoan at 7% interest for 60 mos. $50,000
LoanLoan at 7% interest for 60 mos. $90,000
Total Amount Received $90,000 $50,000
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Profit and Loss StatementProfit and Loss Statement (With Monthly Detail)
FY2014 Oct '13 Nov '13 Dec '13 Jan '14 Feb '14 Mar '14 Apr '14 May '14 Jun '14 Jul '14 Aug '14 Sep '14
Revenue $34,600 $33,100 $40,600 $38,600 $41,600 $45,600 $35,100 $33,600 $41,600 $46,600 $44,600 $44,600
Direct Costs $18,285 $16,995 $21,495 $20,015 $20,915 $23,725 $18,565 $18,145 $22,355 $24,735 $23,765 $24,065
Gross Margin $16,315 $16,105 $19,105 $18,585 $20,685 $21,875 $16,535 $15,455 $19,245 $21,865 $20,835 $20,535
Gross Margin % 47% 49% 47% 48% 50% 48% 47% 46% 46% 47% 47% 46%
Operating Expenses
Salary $6,266 $6,266 $6,266 $6,266 $6,267 $6,267 $6,267 $6,267 $6,267 $7,267 $7,267 $7,267
Employee Related Expenses
$1,567 $1,567 $1,567 $1,567 $1,567 $1,567 $1,567 $1,567 $1,567 $1,817 $1,817 $1,817
Advertising
Insurance $692 $662 $812 $772 $832 $912 $702 $672 $832 $932 $892 $892
Leased Equipment $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Rent $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Utilities $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Rent $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Office Expense
Total Operating Expenses
$14,975 $14,945 $15,095 $15,055 $15,116 $15,196 $14,986 $14,956 $15,116 $16,466 $16,426 $16,426
Operating Income $1,340 $1,160 $4,010 $3,530 $5,569 $6,679 $1,549 $499 $4,129 $5,399 $4,409 $4,109
Interest Incurred $525 $518 $510 $503 $495 $488 $480 $473 $465 $457 $450
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Depreciation and Amortization
$1,025 $1,025 $1,025 $1,025 $1,025 $1,025 $1,275 $1,275 $1,275 $1,275 $1,275 $1,289
Income Taxes $47 ($47) $359 $299 $606 $774 ($32) ($188) $357 $549 $401 $356
Total Expenses $34,332 $33,443 $38,492 $36,904 $38,165 $41,215 $35,282 $34,668 $39,576 $43,490 $42,324 $42,586
Net Profit $268 ($343) $2,108 $1,696 $3,435 $4,385 ($182) ($1,068) $2,024 $3,110 $2,276 $2,014
Net Profit / Sales 1% (1%) 5% 4% 8% 10% (1%) (3%) 5% 7% 5% 5%
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FY2015 Oct '14 Nov '14 Dec '14 Jan '15 Feb '15 Mar '15 Apr '15 May '15 Jun '15 Jul '15 Aug '15 Sep '15
Revenue $44,839 $44,839 $44,839 $44,839 $44,840 $44,840 $44,840 $44,840 $44,841 $44,841 $44,841 $44,841
Direct Costs $23,635 $23,635 $23,635 $23,635 $23,635 $23,635 $23,635 $23,635 $23,636 $23,636 $23,636 $23,636
Gross Margin $21,204 $21,204 $21,204 $21,204 $21,205 $21,205 $21,205 $21,205 $21,205 $21,205 $21,205 $21,205
Gross Margin % 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 47%
Operating Expenses
Salary $7,445 $7,445 $7,445 $7,445 $7,446 $7,446 $7,448 $7,448 $7,448 $7,448 $7,448 $7,448
Employee Related Expenses
$1,861 $1,861 $1,861 $1,861 $1,862 $1,862 $1,862 $1,862 $1,862 $1,862 $1,862 $1,862
Advertising
Insurance $897 $897 $897 $897 $897 $897 $897 $897 $897 $897 $897 $897
Leased Equipment $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Rent $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Utilities $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Rent $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Office Expense
Total Operating Expenses
$16,653 $16,653 $16,653 $16,653 $16,655 $16,655 $16,657 $16,657 $16,657 $16,657 $16,657 $16,657
Operating Income $4,551 $4,551 $4,551 $4,551 $4,550 $4,550 $4,548 $4,548 $4,548 $4,548 $4,548 $4,548
Interest Incurred $442 $434 $426 $418 $702 $690 $678 $665 $653 $641 $629 $616
Depreciation and Amortization
$1,290 $1,289 $1,289 $1,289 $1,290 $1,289 $1,289 $1,290 $1,289 $1,289 $1,289 $1,290
Income Taxes $422 $425 $425 $427 $383 $386 $387 $389 $391 $393 $394 $397
Total Expenses $42,442 $42,436 $42,428 $42,422 $42,665 $42,655 $42,646 $42,636 $42,626 $42,616 $42,605 $42,596
Net Profit $2,397 $2,403 $2,411 $2,417 $2,175 $2,185 $2,194 $2,204 $2,215 $2,225 $2,236 $2,245
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Net Profit / Sales 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5%
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FY2016 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
Revenue $50,073 $50,073 $50,073 $50,073 $50,074 $50,074 $50,074 $50,074 $50,074 $50,076 $50,077 $50,077
Direct Costs $26,472 $26,472 $26,472 $26,472 $26,473 $26,473 $26,473 $26,473 $26,473 $26,473 $26,473 $26,473
Gross Margin $23,601 $23,601 $23,601 $23,601 $23,601 $23,601 $23,601 $23,601 $23,601 $23,603 $23,604 $23,604
Gross Margin % 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 47% 47%
Operating Expenses
Salary $7,634 $7,635 $7,635 $7,635 $7,636 $7,636 $7,636 $7,636 $7,636 $7,636 $7,637 $7,637
Employee Related Expenses
$1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909 $1,909
Advertising
Insurance $1,001 $1,001 $1,001 $1,001 $1,001 $1,001 $1,001 $1,001 $1,001 $1,002 $1,002 $1,002
Leased Equipment $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Rent $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500 $4,500
Utilities $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Rent $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Office Expense
Total Operating Expenses
$16,994 $16,995 $16,995 $16,995 $16,996 $16,996 $16,996 $16,996 $16,996 $16,997 $16,998 $16,998
Operating Income $6,607 $6,606 $6,606 $6,606 $6,605 $6,605 $6,605 $6,605 $6,605 $6,606 $6,606 $6,606
Interest Incurred $603 $591 $578 $566 $552 $540 $526 $513 $501 $487 $474 $460
Depreciation and Amortization
$1,289 $1,289 $1,290 $1,289 $1,289 $1,289 $1,290 $1,289 $1,289 $1,290 $1,289 $1,289
Income Taxes $707 $709 $710 $713 $715 $716 $718 $721 $722 $724 $727 $728
Total Expenses $46,065 $46,056 $46,045 $46,035 $46,025 $46,014 $46,003 $45,992 $45,981 $45,971 $45,961 $45,948
Net Profit $4,008 $4,017 $4,028 $4,038 $4,049 $4,060 $4,071 $4,082 $4,093 $4,105 $4,116 $4,129
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Net Profit / Sales 8% 8% 8% 8% 8% 8% 8% 8% 8% 8% 8% 8%
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FY2014 FY2015 FY2016
Revenue $480,200 $538,080 $600,892
Direct Costs $253,060 $283,620 $317,664
Gross Margin $227,140 $254,460 $283,228
Gross Margin % 47% 47% 47%
Operating Expenses
Salary $78,200 $89,360 $91,629
Employee Related Expenses $19,550 $22,340 $22,907
Advertising
Insurance $9,604 $10,762 $12,018
Leased Equipment $1,800 $1,800 $1,800
Rent $54,000 $54,000 $54,000
Utilities $3,600 $3,600 $3,600
Rent $18,000 $18,000 $18,000
Office Expense
Total Operating Expenses $184,754 $199,862 $203,954
Operating Income $42,386 $54,598 $79,274
Interest Incurred $5,364 $6,994 $6,391
Depreciation and Amortization $13,814 $15,472 $15,471
Income Taxes $3,481 $4,819 $8,610
Total Expenses $460,473 $510,767 $552,090
Net Profit $19,727 $27,313 $48,802
Net Profit / Sales 4% 5% 8%
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Balance SheetBalance Sheet (With Monthly Detail)
As of Period's End
Starting Balances Oct '13 Nov '13 Dec '13 Jan '14 Feb '14 Mar '14 Apr '14 May '14 Jun '14 Jul '14 Aug '14 Sep '14
Cash $0 $47,691 $25,261 $26,245 $24,814 $31,866 $40,817 $20,177 $14,657 $15,124 $15,501 $20,567 $23,963
Accounts Receivable $9,170 $8,726 $10,740 $10,209 $10,974 $12,035 $9,316 $8,953 $11,033 $12,328 $11,838 $11,838
Inventory $17,000 $58,505 $62,425 $64,655 $63,205 $60,435 $59,065 $65,235 $70,855 $72,565 $71,465 $71,335 $70,905
Other Current Assets
Total Current Assets
$17,000 $115,366 $96,412 $101,640 $98,228 $103,275 $111,917 $94,728 $94,465 $98,722 $99,294 $103,740 $106,706
Long-Term Assets $61,500 $61,500 $61,500 $61,500 $61,500 $61,500 $61,500 $76,500 $76,500 $76,500 $76,500 $76,500 $77,700
Accumulated Depreciation ($1,025) ($2,050) ($3,075) ($4,100) ($5,125) ($6,150) ($7,425) ($8,700) ($9,975) ($11,250) ($12,525) ($13,814)
Total Long-Term Assets
$61,500 $60,475 $59,450 $58,425 $57,400 $56,375 $55,350 $69,075 $67,800 $66,525 $65,250 $63,975 $63,886
Total Assets $78,500 $175,841 $155,862 $160,065 $155,628 $159,650 $167,267 $163,803 $162,265 $165,247 $164,544 $167,715 $170,592
Accounts Payable $27,800 $33,466 $14,014 $15,494 $12,894 $12,714 $14,859 $15,943 $15,443 $15,673 $15,508 $15,487 $15,486
Income Taxes Payable $47 $0 $359 $658 $1,264 $2,038 $2,006 $1,818 $2,175 $2,724 $3,125 $3,481
Sales Taxes Payable $1,360 $2,480 $4,000 $1,440 $2,880 $4,480 $1,440 $2,960 $4,640 $1,760 $3,600 $5,440
Short-Term Debt $15,578 $15,669 $15,761 $15,853 $15,946 $16,039 $16,133 $16,227 $16,322 $16,417 $16,512 $16,609
Prepaid Revenue
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Total Current Liabilities
$27,800 $50,451 $32,163 $35,614 $30,845 $32,804 $37,416 $35,522 $36,448 $38,810 $36,409 $38,724 $41,016
Long-Term Debt $74,422 $73,074 $71,718 $70,354 $68,982 $67,602 $66,214 $64,818 $63,414 $62,002 $60,582 $59,153
Total Liabilities $27,800 $124,873 $105,237 $107,332 $101,199 $101,786 $105,018 $101,736 $101,266 $102,224 $98,411 $99,306 $100,169
Paid-in Capital $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
Retained Earnings $25,700 $25,700 $25,700 $25,700 $25,700 $25,700 $25,700 $25,700 $25,700 $25,700 $25,700 $25,700 $25,700
Earnings $268 ($75) $2,033 $3,729 $7,164 $11,549 $11,367 $10,299 $12,323 $15,433 $17,709 $19,723
Total Owner's Equity
$50,700 $50,968 $50,625 $52,733 $54,429 $57,864 $62,249 $62,067 $60,999 $63,023 $66,133 $68,409 $70,423
Total Liabilities & Equity
$78,500 $175,841 $155,862 $160,065 $155,628 $159,650 $167,267 $163,803 $162,265 $165,247 $164,544 $167,715 $170,592
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FY2015 Oct '14 Nov '14 Dec '14 Jan '15 Feb '15 Mar '15 Apr '15 May '15 Jun '15 Jul '15 Aug '15 Sep '15
Cash $22,943 $27,377 $28,331 $77,766 $81,209 $84,653 $83,095 $86,537 $89,981 $87,007 $87,614 $88,222
Accounts Receivable $11,855 $11,855 $11,855 $11,855 $11,855 $11,855 $11,854 $11,854 $11,853 $11,852 $11,851 $11,850
Inventory $70,905 $70,905 $70,905 $70,905 $70,905 $70,906 $70,907 $70,908 $70,908 $73,744 $76,580 $79,416
Other Current Assets
Total Current Assets
$105,703 $110,137 $111,091 $160,526 $163,969 $167,414 $165,856 $169,299 $172,742 $172,603 $176,045 $179,488
Long-Term Assets $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700
Accumulated Depreciation ($15,104) ($16,393) ($17,682) ($18,971) ($20,261) ($21,550) ($22,839) ($24,129) ($25,418) ($26,707) ($27,996) ($29,286)
Total Long-Term Assets $62,596 $61,307 $60,018 $58,729 $57,439 $56,150 $54,861 $53,571 $52,282 $50,993 $49,704 $48,414
Total Assets $168,299 $171,444 $171,109 $219,255 $221,408 $223,564 $220,717 $222,870 $225,024 $223,596 $225,749 $227,902
Accounts Payable $15,487 $15,486 $15,485 $15,484 $15,483 $15,483 $15,483 $15,483 $15,483 $16,901 $16,901 $16,901
Income Taxes Payable $3,903 $4,328 $1,272 $1,699 $2,082 $2,468 $2,855 $3,244 $3,635 $4,028 $4,422 $4,819
Sales Taxes Payable $1,667 $3,333 $5,000 $1,667 $3,333 $5,000 $1,666 $3,333 $5,000 $1,667 $3,333 $5,000
Short-Term Debt $16,706 $16,803 $16,901 $25,652 $25,802 $25,952 $26,104 $26,256 $26,408 $26,562 $26,717 $26,873
Prepaid Revenue
Total Current Liabilities
$37,763 $39,950 $38,658 $44,502 $46,700 $48,903 $46,108 $48,316 $50,526 $49,158 $51,373 $53,593
Long-Term Debt $57,716 $56,271 $54,817 $94,702 $92,482 $90,250 $88,004 $85,745 $83,474 $81,189 $78,891 $76,579
Total Liabilities $95,479 $96,221 $93,475 $139,204 $139,182 $139,153 $134,112 $134,061 $134,000 $130,347 $130,264 $130,172
Paid-in Capital $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
Retained Earnings $45,423 $45,423 $45,423 $45,423 $45,423 $45,423 $45,423 $45,423 $45,423 $45,423 $45,423 $45,423
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Earnings $2,397 $4,800 $7,211 $9,628 $11,803 $13,988 $16,182 $18,386 $20,601 $22,826 $25,062 $27,307
Total Owner's Equity
$72,820 $75,223 $77,634 $80,051 $82,226 $84,411 $86,605 $88,809 $91,024 $93,249 $95,485 $97,730
Total Liabilities & Equity
$168,299 $171,444 $171,109 $219,255 $221,408 $223,564 $220,717 $222,870 $225,024 $223,596 $225,749 $227,902
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FY2016 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
Cash $87,566 $93,233 $94,081 $94,247 $99,913 $105,581 $105,748 $111,416 $117,083 $117,251 $122,918 $128,585
Accounts Receivable $13,226 $13,226 $13,225 $13,225 $13,225 $13,224 $13,223 $13,222 $13,221 $13,221 $13,221 $13,220
Inventory $79,416 $79,417 $79,418 $79,419 $79,419 $79,419 $79,419 $79,419 $79,419 $79,419 $79,419 $79,419
Other Current Assets
Total Current Assets
$180,208 $185,876 $186,724 $186,891 $192,557 $198,224 $198,390 $204,057 $209,723 $209,891 $215,558 $221,224
Long-Term Assets $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700 $77,700
Accumulated Depreciation ($30,575) ($31,864) ($33,154) ($34,443) ($35,732) ($37,021) ($38,311) ($39,600) ($40,889) ($42,179) ($43,468) ($44,757)
Total Long-Term Assets $47,125 $45,836 $44,546 $43,257 $41,968 $40,679 $39,389 $38,100 $36,811 $35,521 $34,232 $32,943
Total Assets $227,333 $231,712 $231,270 $230,148 $234,525 $238,903 $237,779 $242,157 $246,534 $245,412 $249,790 $254,167
Accounts Payable $16,953 $16,953 $16,953 $16,953 $16,953 $16,953 $16,953 $16,953 $16,953 $16,954 $16,953 $16,952
Income Taxes Payable $5,526 $6,235 $2,126 $2,839 $3,554 $4,270 $4,988 $5,709 $6,431 $7,155 $7,882 $8,610
Sales Taxes Payable $1,833 $3,667 $5,500 $1,833 $3,666 $5,500 $1,833 $3,667 $5,500 $1,833 $3,667 $5,500
Short-Term Debt $27,029 $27,187 $27,346 $27,506 $27,666 $27,828 $27,990 $28,153 $28,318 $28,484 $28,650 $28,817
Prepaid Revenue
Total Current Liabilities
$51,341 $54,042 $51,925 $49,131 $51,839 $54,551 $51,764 $54,482 $57,202 $54,426 $57,152 $59,879
Long-Term Debt $74,254 $71,915 $69,562 $67,196 $64,816 $62,422 $60,014 $57,592 $55,156 $52,705 $50,241 $47,762
Total Liabilities $125,595 $125,957 $121,487 $116,327 $116,655 $116,973 $111,778 $112,074 $112,358 $107,131 $107,393 $107,641
Paid-in Capital $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000
Retained Earnings $72,730 $72,730 $72,730 $72,730 $72,730 $72,730 $72,730 $72,730 $72,730 $72,730 $72,730 $72,730
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Earnings $4,008 $8,025 $12,053 $16,091 $20,140 $24,200 $28,271 $32,353 $36,446 $40,551 $44,667 $48,796
Total Owner's Equity
$101,738 $105,755 $109,783 $113,821 $117,870 $121,930 $126,001 $130,083 $134,176 $138,281 $142,397 $146,526
Total Liabilities & Equity
$227,333 $231,712 $231,270 $230,148 $234,525 $238,903 $237,779 $242,157 $246,534 $245,412 $249,790 $254,167
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As of Period's End Starting Balances FY2014 FY2015 FY2016
Cash $0 $23,963 $88,222 $128,585
Accounts Receivable $11,838 $11,850 $13,220
Inventory $17,000 $70,905 $79,416 $79,419
Other Current Assets
Total Current Assets $17,000 $106,706 $179,488 $221,224
Long-Term Assets $61,500 $77,700 $77,700 $77,700
Accumulated Depreciation ($13,814) ($29,286) ($44,757)
Total Long-Term Assets $61,500 $63,886 $48,414 $32,943
Total Assets $78,500 $170,592 $227,902 $254,167
Accounts Payable $27,800 $15,486 $16,901 $16,952
Income Taxes Payable $3,481 $4,819 $8,610
Sales Taxes Payable $5,440 $5,000 $5,500
Short-Term Debt $16,609 $26,873 $28,817
Prepaid Revenue
Total Current Liabilities $27,800 $41,016 $53,593 $59,879
Long-Term Debt $59,153 $76,579 $47,762
Total Liabilities $27,800 $100,169 $130,172 $107,641
Paid-in Capital $25,000 $25,000 $25,000 $25,000
Retained Earnings $25,700 $25,700 $45,423 $72,730
Earnings $19,723 $27,307 $48,796
Total Owner's Equity $50,700 $70,423 $97,730 $146,526
Total Liabilities & Equity $78,500 $170,592 $227,902 $254,167
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Cash Flow StatementCash Flow Statement (With Monthly Detail)
FY2014 Oct '13 Nov '13 Dec '13 Jan '14 Feb '14 Mar '14 Apr '14 May '14 Jun '14 Jul '14 Aug '14 Sep '14
Net Cash Flow from Operations
Net Profit $268 ($343) $2,108 $1,696 $3,435 $4,385 ($182) ($1,068) $2,024 $3,110 $2,276 $2,014
Depreciation and Amortization
$1,025 $1,025 $1,025 $1,025 $1,025 $1,025 $1,275 $1,275 $1,275 $1,275 $1,275 $1,289
Change in Accounts Receivable
($9,170) $444 ($2,014) $531 ($765) ($1,061) $2,719 $363 ($2,080) ($1,295) $490 $0
Change in Inventory ($41,505) ($3,920) ($2,230) $1,450 $2,770 $1,370 ($6,170) ($5,620) ($1,710) $1,100 $130 $430
Change in Accounts Payable
$5,666 ($19,452) $1,480 ($2,600) ($180) $2,145 $1,084 ($500) $230 ($165) ($21) ($1)
Change in Income Tax Payable
$47 ($47) $359 $299 $606 $774 ($32) ($188) $357 $549 $401 $356
Change in Sales Tax Payable
$1,360 $1,120 $1,520 ($2,560) $1,440 $1,600 ($3,040) $1,520 $1,680 ($2,880) $1,840 $1,840
Change in Prepaid Revenue
Net Cash Flow from Operations
($42,309) ($21,173) $2,248 ($159) $8,331 $10,238 ($4,346) ($4,218) $1,776 $1,694 $6,391 $5,928
Investing & Financing
Assets Purchased or Sold
($15,000) ($1,200)
Investments Received
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Change in Long-Term Debt
$74,422 ($1,348) ($1,356) ($1,364) ($1,372) ($1,380) ($1,388) ($1,396) ($1,404) ($1,412) ($1,420) ($1,429)
Change in Short-Term Debt
$15,578 $91 $92 $92 $93 $93 $94 $94 $95 $95 $95 $97
Dividends & Distributions
Net Cash Flow from Investing & Financing
$90,000 ($1,257) ($1,264) ($1,272) ($1,279) ($1,287) ($16,294) ($1,302) ($1,309) ($1,317) ($1,325) ($2,532)
Cash at Beginning of Period
$0 $47,691 $25,261 $26,245 $24,814 $31,866 $40,817 $20,177 $14,657 $15,124 $15,501 $20,567
Net Change in Cash $47,691 ($22,430) $984 ($1,431) $7,052 $8,951 ($20,640) ($5,520) $467 $377 $5,066 $3,396
Cash at End of Period $47,691 $25,261 $26,245 $24,814 $31,866 $40,817 $20,177 $14,657 $15,124 $15,501 $20,567 $23,963
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FY2015 Oct '14 Nov '14 Dec '14 Jan '15 Feb '15 Mar '15 Apr '15 May '15 Jun '15 Jul '15 Aug '15 Sep '15
Net Cash Flow from Operations
Net Profit $2,397 $2,403 $2,411 $2,417 $2,175 $2,185 $2,194 $2,204 $2,215 $2,225 $2,236 $2,245
Depreciation and Amortization
$1,290 $1,289 $1,289 $1,289 $1,290 $1,289 $1,289 $1,290 $1,289 $1,289 $1,289 $1,290
Change in Accounts Receivable
($17) $0 $0 $0 $0 $0 $1 $0 $1 $1 $1 $1
Change in Inventory $0 $0 $0 $0 $0 ($1) ($1) ($1) $0 ($2,836) ($2,836) ($2,836)
Change in Accounts Payable
$1 ($1) ($1) ($1) ($1) $0 $0 $0 $0 $1,418 $0 $0
Change in Income Tax Payable
$422 $425 ($3,056) $427 $383 $386 $387 $389 $391 $393 $394 $397
Change in Sales Tax Payable
($3,773) $1,666 $1,667 ($3,333) $1,666 $1,667 ($3,334) $1,667 $1,667 ($3,333) $1,666 $1,667
Change in Prepaid Revenue
Net Cash Flow from Operations
$320 $5,782 $2,310 $799 $5,513 $5,526 $536 $5,549 $5,563 ($843) $2,750 $2,764
Investing & Financing
Assets Purchased or Sold
Investments Received
Change in Long-Term Debt
($1,437) ($1,445) ($1,454) $39,885 ($2,220) ($2,232) ($2,246) ($2,259) ($2,271) ($2,285) ($2,298) ($2,312)
Change in Short-Term Debt
$97 $97 $98 $8,751 $150 $150 $152 $152 $152 $154 $155 $156
Dividends & Distributions
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Net Cash Flow from Investing & Financing
($1,340) ($1,348) ($1,356) $48,636 ($2,070) ($2,082) ($2,094) ($2,107) ($2,119) ($2,131) ($2,143) ($2,156)
Cash at Beginning of Period
$23,963 $22,943 $27,377 $28,331 $77,766 $81,209 $84,653 $83,095 $86,537 $89,981 $87,007 $87,614
Net Change in Cash ($1,020) $4,434 $954 $49,435 $3,443 $3,444 ($1,558) $3,442 $3,444 ($2,974) $607 $608
Cash at End of Period $22,943 $27,377 $28,331 $77,766 $81,209 $84,653 $83,095 $86,537 $89,981 $87,007 $87,614 $88,222
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FY2016 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
Net Cash Flow from Operations
Net Profit $4,008 $4,017 $4,028 $4,038 $4,049 $4,060 $4,071 $4,082 $4,093 $4,105 $4,116 $4,129
Depreciation and Amortization
$1,289 $1,289 $1,290 $1,289 $1,289 $1,289 $1,290 $1,289 $1,289 $1,290 $1,289 $1,289
Change in Accounts Receivable
($1,376) $0 $1 $0 $0 $1 $1 $1 $1 $0 $0 $1
Change in Inventory $0 ($1) ($1) ($1) $0 $0 $0 $0 $0 $0 $0 $0
Change in Accounts Payable
$52 $0 $0 $0 $0 $0 $0 $0 $0 $1 ($1) ($1)
Change in Income Tax Payable
$707 $709 ($4,109) $713 $715 $716 $718 $721 $722 $724 $727 $728
Change in Sales Tax Payable
($3,167) $1,834 $1,833 ($3,667) $1,833 $1,834 ($3,667) $1,834 $1,833 ($3,667) $1,834 $1,833
Change in Prepaid Revenue
Net Cash Flow from Operations
$1,513 $7,848 $3,042 $2,372 $7,886 $7,900 $2,413 $7,927 $7,938 $2,453 $7,965 $7,979
Investing & Financing
Assets Purchased or Sold
Investments Received
Change in Long-Term Debt
($2,325) ($2,339) ($2,353) ($2,366) ($2,380) ($2,394) ($2,408) ($2,422) ($2,436) ($2,451) ($2,464) ($2,479)
Change in Short-Term Debt
$156 $158 $159 $160 $160 $162 $162 $163 $165 $166 $166 $167
Dividends & Distributions
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Net Cash Flow from Investing & Financing
($2,169) ($2,181) ($2,194) ($2,206) ($2,220) ($2,232) ($2,246) ($2,259) ($2,271) ($2,285) ($2,298) ($2,312)
Cash at Beginning of Period
$88,222 $87,566 $93,233 $94,081 $94,247 $99,913 $105,581 $105,748 $111,416 $117,083 $117,251 $122,918
Net Change in Cash ($656) $5,667 $848 $166 $5,666 $5,668 $167 $5,668 $5,667 $168 $5,667 $5,667
Cash at End of Period $87,566 $93,233 $94,081 $94,247 $99,913 $105,581 $105,748 $111,416 $117,083 $117,251 $122,918 $128,585
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FY2014 FY2015 FY2016
Net Cash Flow from Operations
Net Profit $19,727 $27,313 $48,802
Depreciation and Amortization $13,814 $15,472 $15,471
Change in Accounts Receivable ($11,840) ($11) ($1,368)
Change in Inventory ($53,905) ($8,511) ($3)
Change in Accounts Payable ($12,319) $1,411 $51
Change in Income Tax Payable $3,481 $1,338 $3,791
Change in Sales Tax Payable $5,440 ($440) $500
Change in Prepaid Revenue
Net Cash Flow from Operations ($35,602) $36,572 $67,244
Investing & Financing
Assets Purchased or Sold ($16,200)
Investments Received
Change in Long-Term Debt $59,153 $17,426 ($28,817)
Change in Short-Term Debt $16,609 $10,264 $1,944
Dividends & Distributions
Net Cash Flow from Investing & Financing $59,562 $27,690 ($26,873)
Cash at Beginning of Period $3 $23,960 $88,214
Net Change in Cash $23,960 $64,262 $40,371
Cash at End of Period $23,963 $88,222 $128,585