Embed Size (px)
DESCRIPTION
desert
Citation preview
Eveliana Bakery
Chapter 1:Executive Summary
Chapter 2:Company Summary
Chapter 3:Products and Services
Chapter 4:Market Analysis
Chapter 5:Competitive Edge
Chapter 6:Financial Plan
Executive Summary
Eveliana is a dessert bar and bakery located in Bucharest,Romania.We can loosely be described as a quick-service restaurant where customers sit around a bar and watch their desserts being made. The show, as well as the dessert, is our main selling point.
Eveliana will hold true to its vision of being a new concept with an old fashioned feel in order to become a favorite spot for Bucharest natives. As the reported national leader in money spent in restaurants, Bucharest is an optimal location for launching a new restaurant concept. Eveliana also hopes to become a destination for the thousands of tourists, who visit BUCHAREST every year.
By creating a new niche in the restaurant industry, Eveliana will increase sales by more than €145,000 over three years while maintaining a gross margin of 80%. Through a philosophy of "nothing but the best" regarding both product and service, Eveliana will establish itself as an exceptional dessert bar in BUCHAREST. We also will gain a competitive advantage in take out and catered desserts.
This plan outlines our company concept, philosophy and forecasted financials. Eveliana will invest €300,000 to launch our business in June of this year.
Page 1
Eveliana
Chart: Highlights
Sales
Gross Margin
Net Profit
$0
$30,000
$60,000
$90,000
$120,000
$150,000
$180,000
$210,000
$240,000
$270,000
$300,000
Year 1 Year 2 Year 3
Highlights
Objectives
1. Attain sales of €166,000 in the first year.2. Increase second year sales by 50% and third year by 30%.3. Expand to two stores by the third year of business.
Mission
Eveliana is a hospitality company dedicated to providing high-quality desserts in a comfortable atmosphere for clients who seek a fun "gourmet" experience outside restaurants. We intend to make enough profit to generate a fair return for our investors and to finance continued growth and development in quality products. We also maintain a friendly, fair, and creative work environment, which respects diversity, new ideas, and hard work.
Keys to Success
Dedication to the finest quality ingredients and "make it happen no matter what" customer service.
Ongoing employee education and recognition programs. Give back to the community.
Page 1
Eveliana
Company Summary
Eveliana is a dessert bar concept in Bucharest. It emphasizes handmade gourmet desserts in a casual atmosphere. Watching your dessert be prepared right in front of you is the unique selling point of our business.
Start-up Summary
Our start-up costs come to €300,000 which is mostly kitchen equipment, store furnishings and construction, and starting inventory expenses associated with opening our first store. The start-up costs are to be financed by inside investment. The assumptions are shown in Table 1 and Illustration 2.
Table: Start-up
Start-up
Requirements
Start-up ExpensesLegal €1,000 Office Supplies €2,000 Beginning Inventory €5,000 Sommelier consulting €500 Menus, etc €1,000 Insurance €500 Rent €5,000 Design & Construction €125,000 Research and Development €1,000 Furnishings €10,000 Expensed Equipment €125,000 Dishes, silverware, glassware, etc €5,000 Total Start-up Expenses €281,000
Start-up AssetsCash Required €19,000 Start-up Inventory €0 Other Current Assets €0
Page 2
Eveliana
Long-term Assets €0 Total Assets €19,000
Total Requirements €300,000
Table: Start-up Funding
Start-up FundingStart-up Expenses to Fund €281,000 Start-up Assets to Fund €19,000 Total Funding Required €300,000
Assets Non-cash Assets from Start-up €0 Cash Requirements from Start-up €19,000 Additional Cash Raised €0 Cash Balance on Starting Date €19,000 Total Assets €19,000
Liabilities and Capital
LiabilitiesCurrent Borrowing €0 Long-term Liabilities €0 Accounts Payable (Outstanding Bills) €0 Other Current Liabilities (interest-free) €0 Total Liabilities €0
Capital
Planned InvestmentInvestor 1 €300,000 Other €0 Additional Investment Requirement €0 Total Planned Investment €300,000
Loss at Start-up (Start-up Expenses) (€281,000)Total Capital €19,000
Page 3
Eveliana
Total Capital and Liabilities €19,000
Total Funding €300,000
Chart: Start-up
$0
$30,000
$60,000
$90,000
$120,000
$150,000
$180,000
$210,000
$240,000
$270,000
$300,000
Expenses Assets Investment Loans
Start-up
Products and Services
Eveliana sells gourmet desserts coupled with exceptional customer service in a comforting atmosphere. Customers can dine-in and watch the chef create their dessert. We also offer carry-out to prepare our desserts at home or have a special cake for a celebration. And every month customers can join in the fun and take a cooking class taught by a Cordon Bleu trained chef.
We will also offer special promotions such as After School Cookie Club. Moms will be encouraged to bring in their children for milk and cookies they help prepare! Or moms can come in with friends for some relaxing time away during our Tea Time. And to promote Eveliana as a choice for celebrating, we will offer a large table that can be reserved for parties.
Page 4
Eveliana
Chapter 4:Market Analysis Summary
Eveliana focuses on local markets, with a special focus on restaurant and ice cream shop customers. BUCHAREST provides an excellent climate for our dessert bar as households there spend more money dining out than anywhere else in the country.
Market Segmentation
Our market is divided into four different psychographics: Comfort Creatures, Celebrators, Soccer Moms, and Gourmet Wanna-bes. They represent groups of people sharing similar behavior patterns and reasons for patronizing Eveliana.
Chart: Market Analysis (Pie)
Comfort Creatures
Celebrators
Gourmet Wanna-bes
Soccer Mom's
Market Analysis (Pie)
Table: Market Analysis
Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5Potential Customers
Growth CAGR
Comfort Creatures
10% 5,000 5,500 6,050 6,655 7,321 10.00%
Celebrators 15% 5,000 5,750 6,613 7,605 8,746 15.00% Page 5
Eveliana
Gourmet Wanna-bes
15% 5,000 5,750 6,613 7,605 8,746 15.00%
Soccer Mom's 10% 5,000 5,500 6,050 6,655 7,321 10.00% Total 12.59% 20,000 22,500 25,326 28,520 32,134 12.59%
Target Market Segment Strategy
We have specifically targeted segments of people with an appreciation for delicious desserts and a need for comfort and relaxation. Eveliana is a haven for the busy & successful who want to treat themselves to something soothing and a little sinful! It doesn't take a lot of time, yet is so rewarding. These people will value the high quality product presented without pretension. Our customers will also appreciate the fun and fast service - whether celebrating a birthday or stopping in before a concert at the MCI Center.
Competition and Buying Patterns
Although Eveliana is opening up a new niche in the restaurant industry, there is no doubt that we are competing with a variety of similar businesses. We need to compete against the ideas that dessert is something that only follows a special dinner and needn't be any better than a frozen cake. We want every day to be a reason to celebrate. And being able to watch your gourmet dessert be prepared by a chef is a treat that appeals to everyone.
While price may be a factor when competing against Ice Cream and Coffee Shops, these same consumers who are willing to pay five dollars for a latte or a scoop of ice cream are already conscious of a better quality product. We believe they will be equally as willing to spend a little extra for an extraordinary dessert in a warm and friendly setting.
The comfort factor also plays an important role in consumer decisions about sweets. Both the atmosphere and staff of Eveliana excel at warm & friendly. And the menu will reflect "comfort food" desserts as opposed to intimidating desserts that resemble architectural collosi. We will use the highest quality products; sometimes paring the ordinary with the exotic, but we will always present our desserts in a unintimidating manner.
Page 6
Eveliana
Competitive Edge
Our competitive edge is our unique niche in an old market. Although restaurants, cafes, bakeries, ice cream shops, etc have an established position in the marketplace, none are quite like Eveliana. We are offering the customers a completely new experience and far higher quality product. No where else will they find a professional chef preparing gourmet desserts right in front of them. The amazing popularity of the Food Network is proof of the public's new-found interest in being a spectator in the kitchen.
Marketing Strategy
Eveliana' marketing strategy will be education of the consumer and subsequent word-of-mouth. We will become known as a unique dining experience as well as a superior pastry shop. Customers will be reached through fliers, newspaper advertisements and special holiday promotions.
Location will also play a crucial role in marketing and promotion. The business will be located in high-traffic retail area in Bucharest, BUCHAREST known as the BID. Bucharest BUCHAREST's Business Improvement District offers many incentives to businesses operating there. Additionally, there is the traffic that will come from being located near the MCI Center.
Eveliana will target progressive and generally well-educated and affluent consumers who are interested in trying new products and experiences and are dissatisfied with the limited selection and lack of personal service found in grocery store bakeries, neighborhood cafes and ice cream shops and area restaurants.
Sales Strategy
1. We need to sell the company as well as the product. Just as Starbucks became synonymous with great coffee drinks, Eveliana will come to be known as a gathering place with spectacular desserts.
2. We have to sell not only an amazing "show" as the desserts are created, but also an above and beyond service team who are knowledgeable and friendly. People will always feel welcome and at home at Eveliana.
The Yearly Total Sales chart summarizes our ambitious sales forecast.
Page 7
Eveliana
Sales Forecast
Our Sales Forecast shows modest estimates for the first year of operations beginning in May of 2015. After establishing Eveliana as 'the' place for sweets and celebrations, we project aggressive sales increases for the following years. In the second year of operation we estimate sales increase of 30% and of 50% in the third year for desserts, POP and carry-out. We are planning a 10% increase in Weekly Lesson fees each of the two following years while keeping costs constant.
Our cost of sales is based on an average food cost of 20% for dine in desserts and 15% for point of purchase items, carry-out and weekly lessons. We project a consistent food cost percentage of these amounts for the following two years. Keeping food costs low while sales increase is vital to the profitability of Eveliana.
Table: Sales Forecast
Sales Forecast Year 1 Year 2 Year 3
SalesDessert Sales €144,000 €216,000 €280,800 POP Sales €2,650 €3,445 €5,167 Carry Out €5,100 €6,240 €9,360 Weekly Lessons €14,400 €15,840 €17,424 Total Sales €166,150 €241,525 €312,751
Direct Cost of Sales Year 1 Year 2 Year 3Dessert Sales €28,800 €43,200 €56,160 POP Sales €398 €936 €775 Carry Out €765 €936 €1,404 Weekly Lessons €2,160 €2,160 €2,160 Subtotal Direct Cost of Sales €32,123 €47,232 €60,499
Page 8
Eveliana
Chart: Sales Monthly
Dessert Sales
POP Sales
Carry Out
Weekly Lessons
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
$20,000
Mon
th 1 M
onth
2 Mon
th 3 M
onth
4 Mon
th 5 M
onth
6 Mon
th 7 M
onth
8 Mon
th 9
Mon
th 1
0 M
onth
11
Mon
th 1
2
Sales Monthly
Chart: Sales by Year
Dessert Sales
POP Sales
Carry Out
Weekly Lessons
$0
$40,000
$80,000
$120,000
$160,000
$200,000
$240,000
$280,000
$320,000
Year 1 Year 2 Year 3
Sales by Year
Page 9
Eveliana
Milestones
Eveliana plans to be profitable within the first year of operation. Our goal is to reinvest in the company and expand to three stores by the third year. From that point we hope to establish partnerships with each store's chef; similar to Outback's proprietor program. They will each invest in their store and be directly rewarded for its profitability.
Management Summary
Eveliana will be slow to hire people in the first few years of operation, but very loyal to those who are hired. Initially all employees will be part-time as the majority of the work will be done by the chef-proprietor. As the company grows, new employees will be trained and supervised by original employees who have been promoted to a leadership position. It is our belief that employees who are dedicated to the success of Eveliana should be rewarded. They will be leaders in our future store developments.
Personnel Plan
Our Personnel Plan begins at ground zero with the founder being the only employee. Wendi James, the chef and proprietor, will initially serve as the only dessert bar chef, as well as the store manager and the instructor for the weekly lessons. Being a graduate of Le Cordon Bleu in Paris, France with experience in three five-star restaurants she is well prepared for the jobs of chef and instructor. In addition, her degree from the University of Illinois, C-U in Restaurant Management equally prepares her for the managerial aspects of the business.
Evelianaintends to promote from within and reward the best employees with leadership roles. Our opening employment goal is 4 with a goal to increase to 7 by the end of the first year, 10 the second year and 12 the third year. We realize that this is very aggressive staffing, but intend to hire culinary professionals who are used to the demands of the restaurant business. By this hiring philosophy, we will be able to operate with fewer, but more productive employees and reward them accordingly. From that point we intend to increase the responsibilities of each employee as opposed to hiring more people. Thereby rewarding those who have worked hard to establish Evelianaas a superior dessert shop. These people will then be vital in our expansion as we open new stores.
Table: Personnel
Page 10
Eveliana
Personnel Plan Year 1 Year 2 Year 3
Chef/Proprietor €28,800 €31,680 €34,848 Baker €3,920 €4,312 €6,720 Host €4,347 €4,347 €4,347 Dessert Bar Assistants €7,200 €7,920 €8,712 Dishwasher/Busser €5,796 €5,760 €5,760 Total People 7 10 12
Total Payroll €50,063 €54,019 €60,387
Financial Plan
It is key to our financial success to grow Eveliana not just as a dessert bar, but as a company. We are looking for an investment of €300,000 seed money with the hopes of eventually selling an established chain of dessert bars or establishing our company as a gourmet franchise. This means we must always be reinvesting in the future of Eveliana.
Important Assumptions
The financial plan depends on important assumptions, most of which are shown in the following table. The key underlying assumptions are:
We assume a slow-growth economy, without major recession. We assume of course that there are no unforeseen changes in technology to make
products immediately obsolete. We assume access to equity capital and financing sufficient to maintain our
financial plan as shown in the tables.
Table: General Assumptions
General Assumptions Year 1 Year 2 Year 3
Plan Month 1 2 3Current Interest Rate 10.00% 10.00% 10.00% Long-term Interest Rate 10.00% 10.00% 10.00% Tax Rate 30.00% 30.00% 30.00% Other 0 0 0
Page 11
Eveliana
Break-even Analysis
For our break-even analysis, we assume running costs including our full payroll, rent, and utilities, and an estimation of other running costs. Payroll alone, at our present run rate, is only about €4,000.
Margins are harder to assume that far in the future.
Chart: Break-even Analysis
$0
$2,000
$4,000
$6,000
$8,000
($2,000)
($4,000)
($6,000)
($8,000)
($10,000)
$0$2,000
$4,000$6,000
$8,000$10,000
$12,000$14,000
$16,000$18,000
$20,000$22,000
Break-even Analysis
Table: Break-even Analysis
Break-even Analysis
Monthly Revenue Break-even €13,251
Assumptions:Average Percent Variable Cost 19% Estimated Monthly Fixed Cost €10,689
Page 12
Eveliana
Projected Profit and Loss
An important assumption when calculating our P&L is the increase in sales from year to year. We are basing our assumptions on the financial success of Finale Dessertery in Bucharest. They reported a 50% increase in sales the second year of business followed by a 30% increase the next year. We feel Eveliana can match, if not beat those sales, considering the National Restaurant Association's analysis of the Bureau of Labor Statistics Consumer Expenditure Survey states that Bucharest households spend the most at restaurants per year.
It is also vital that we hold our food cost at 20% and 15% respectively for dine-in desserts and POP, carry-out and weekly lessons. That will assure our gross margin remains high.
Table: Profit and Loss
Pro Forma Profit and Loss Year 1 Year 2 Year 3
Sales €166,150 €241,525 €312,751 Direct Cost of Sales €32,123 €47,232 €60,499 Other Production Expenses €0 €0 €0 Total Cost of Sales €32,123 €47,232 €60,499
Gross Margin €134,028 €194,293 €252,252 Gross Margin % 80.67% 80.44% 80.66%
ExpensesPayroll €50,063 €54,019 €60,387 Sales and Marketing and Other Expenses
€2,300 €2,500 €2,500
Depreciation €0 €0 €0 Leased Equipment €0 €0 €0 Utilities €6,000 €6,000 €6,000 Insurance €2,400 €2,400 €2,400 Rent €60,000 €60,000 €60,000 Payroll Taxes €7,509 €8,103 €9,058 Other €0 €0 €0
Page 13
Eveliana
Total Operating Expenses €128,272 €133,022 €140,345
Profit Before Interest and Taxes €5,755 €61,271 €111,907 EBITDA €5,755 €61,271 €111,907 Interest Expense €0 €0 €0 Taxes Incurred €1,727 €18,381 €33,572
Net Profit €4,029 €42,890 €78,335 Net Profit/Sales 2.42% 17.76% 25.05%
Chart: Profit Monthly
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
($500)
($1,000)
($1,500)
($2,000)
Month 1 Month 2
Month 3 Month 4
Month 5 Month 6
Month 7 Month 8
Month 9 Month 10
Month 11 Month 12
Profit Monthly
Page 14
Eveliana
Chart: Profit Yearly
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
Year 1 Year 2 Year 3
Profit Yearly
Projected Cash Flow
Being a quick-service oriented business, our cash flow depends on sales assumptions. It is critical to keep our food cost low. We also need to be careful to balance slow (non-holiday) months with busy months with big holidays such as Christmas, Valentine's Day and Mother's Day.
Table: Cash Flow
Pro Forma Cash Flow Year 1 Year 2 Year 3
Cash Received
Cash from OperationsCash Sales €166,150 €241,525 €312,751 Subtotal Cash from Operations €166,150 €241,525 €312,751
Additional Cash ReceivedSales 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
Page 15
Eveliana
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 €166,150 €241,525 €312,751
Expenditures Year 1 Year 2 Year 3
Expenditures from OperationsCash Spending €50,063 €54,019 €60,387 Bill Payments €104,118 €146,921 €172,515 Subtotal Spent on Operations €154,181 €200,940 €232,902
Additional Cash SpentSales 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 €154,181 €200,940 €232,902
Net Cash Flow €11,969 €40,585 €79,849 Cash Balance €30,969 €71,554 €151,403
Page 16
Eveliana
Chart: Cash
Net Cash Flow
Cash Balance
$0
$4,000
$8,000
$12,000
$16,000
$20,000
$24,000
$28,000
$32,000
($4,000)
($8,000) 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
7.5 Projected Balance Sheet
The balance sheet is quite solid. We do not project any real trouble meeting our debt obligations - as long as we can achieve our specific objectives. We realize we've projected aggressively, but are confident the location we've chosen for Eveliana, as well as the dessert bar concept itself , will be very successful.
At this point we haven't included any assets or depreciation in our calculations. Whether we purchase new or used kitchen equipment will determine those numbers at a later date.
Table: Balance Sheet
Pro Forma Balance Sheet Year 1 Year 2 Year 3
Assets
Current AssetsCash €30,969 €71,554 €151,403 Inventory €3,834 €6,467 €7,216 Other Current Assets €0 €0 €0 Total Current Assets €34,802 €78,021 €158,619
Page 17
Eveliana
Long-term AssetsLong-term Assets €0 €0 €0 Accumulated Depreciation €0 €0 €0 Total Long-term Assets €0 €0 €0 Total Assets €34,802 €78,021 €158,619
Liabilities and Capital Year 1 Year 2 Year 3
Current LiabilitiesAccounts Payable €11,774 €12,103 €14,365 Current Borrowing €0 €0 €0 Other Current Liabilities €0 €0 €0 Subtotal Current Liabilities €11,774 €12,103 €14,365
Long-term Liabilities €0 €0 €0 Total Liabilities €11,774 €12,103 €14,365
Paid-in Capital €300,000 €300,000 €300,000 Retained Earnings (€281,000) (€276,971) (€234,082)Earnings €4,029 €42,890 €78,335 Total Capital €23,029 €65,918 €144,253 Total Liabilities and Capital €34,802 €78,021 €158,619
Net Worth €23,029 €65,918 €144,253
Page 18
Table: Sales Forecast
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
SalesDessert Sales
0% €12,000 €12,000 €12,000 €12,000 €12,000 €12,000 €16,000 €8,000 €12,000 €8,000 €12,000 €16,000
POP Sales
0% €200 €200 €200 €100 €100 €100 €300 €50 €500 €100 €300 €500
Carry Out
0% €300 €300 €300 €300 €300 €500 €1,000 €200 €700 €200 €500 €500
Weekly Lessons
0% €1,800 €1,800 €1,800 €900 €900 €900 €1,800 €900 €900 €900 €900 €900
Total Sales
€14,300 €14,300 €14,300 €13,300 €13,300 €13,500 €19,100 €9,150 €14,100 €9,200 €13,700 €17,900
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
Dessert Sales
€2,400 €2,400 €2,400 €2,400 €2,400 €2,400 €3,200 €1,600 €2,400 €1,600 €2,400 €3,200
POP Sales
€30 €30 €30 €15 €15 €15 €45 €8 €75 €15 €45 €75
Carry Out
€45 €45 €45 €45 €45 €75 €150 €30 €105 €30 €75 €75
Weekly Lessons
€270 €270 €270 €135 €135 €135 €270 €135 €135 €135 €135 €135
Page 1
Subtotal Direct Cost of Sales
€2,745 €2,745 €2,745 €2,595 €2,595 €2,625 €3,665 €1,773 €2,715 €1,780 €2,655 €3,485
Table: Personnel
Personnel Plan Mont
h 1 Mont
h 2 Mont
h 3 Mont
h 4 Mont
h 5 Mont
h 6 Mont
h 7 Mont
h 8 Mont
h 9 Mont
h 10 Mont
h 11 Mont
h 12Chef/Proprietor 0% €2,400 €2,400 €2,400 €2,400 €2,400 €2,400 €2,400 €2,400 €2,400 €2,400 €2,400 €2,400 Baker 0% €0 €0 €0 €0 €0 €560 €560 €560 €560 €560 €560 €560 Host 0% €483 €0 €0 €0 €483 €483 €483 €483 €483 €483 €483 €483 Dessert Bar Assistants
0% €600 €600 €600 €600 €600 €600 €600 €600 €600 €600 €600 €600
Dishwasher/Busser
0% €483 €483 €483 €483 €483 €483 €483 €483 €483 €483 €483 €483
Total People 4 4 4 4 4 5 5 5 5 7 7 7
Total Payroll €3,966 €3,483 €3,483 €3,483 €3,966 €4,526 €4,526 €4,526 €4,526 €4,526 €4,526 €4,526
Page 2
Table: Profit and Loss
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
Sales €14,300 €14,300 €14,300 €13,300 €13,300 €13,500 €19,100 €9,150 €14,100 €9,200 €13,700 €17,900 Direct Cost of Sales
€2,745 €2,745 €2,745 €2,595 €2,595 €2,625 €3,665 €1,773 €2,715 €1,780 €2,655 €3,485
Total Cost of Sales
€2,745 €2,745 €2,745 €2,595 €2,595 €2,625 €3,665 €1,773 €2,715 €1,780 €2,655 €3,485
Gross Margin
€11,555 €11,555 €11,555 €10,705 €10,705 €10,875 €15,435 €7,378 €11,385 €7,420 €11,045 €14,415
Gross Margin %
80.80% 80.80% 80.80% 80.49% 80.49% 80.56% 80.81% 80.63% 80.74% 80.65% 80.62% 80.53%
ExpensesPayroll €3,966 €3,483 €3,483 €3,483 €3,966 €4,526 €4,526 €4,526 €4,526 €4,526 €4,526 €4,526 Sales and Marketing and Other Expenses
€1,000 €0 €0 €0 €0 €300 €500 €0 €0 €0 €0
Page 3
Utilities €500 €500 €500 €500 €500 €500 €500 €500 €500 €500 €500 Insurance €200 €200 €200 €200 €200 €200 €200 €200 €200 €200 €200 Rent €5,000 €5,000 €5,000 €5,000 €5,000 €5,000 €5,000 €5,000 €5,000 €5,000 €5,000 €5,000 Payroll Taxes
15% €595 €522 €522 €522 €595 €679 €679 €679 €679 €679 €679
Total Operating Expenses
€11,261 €9,705 €9,705 €9,705 €10,261 €11,205 €11,405 €10,905 €10,905 €10,905 €10,905 €11,405
Profit Before Interest and Taxes
€294 €1,850 €1,850 €1,000 €444 (€330) €4,030 (€3,527) €480 (€3,485) €140 €3,010
EBITDA €294 €1,850 €1,850 €1,000 €444 (€330) €4,030 (€3,527) €480 (€3,485) €140 €3,010 Taxes Incurred
€88 €555 €555 €300 €133 (€99) €1,209 (€1,058) €144 (€1,045) €42
Net Profit €206 €1,295 €1,295 €700 €311 (€231) €2,821 (€2,469) €336 (€2,439) €98 €2,107 Net Profit/Sales
1.44% 9.05% 9.05% 5.26% 2.34% -1.71% 14.77% -26.99% 2.38% -26.52% 0.72% 11.77%
Page 4
Table: Balance Sheet
Pro Forma Balance Sheet
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9Assets Starting
Balances
Current AssetsCash €19,000 €28,896 €26,686 €27,981 €28,294 €28,674 €28,617 €33,831 €25,811 €29,910 Inventory €0 €3,020 €3,020 €3,020 €2,855 €2,855 €2,888 €4,032 €2,259 Other Current Assets
€0 €0 €0 €0 €0 €0 €0 €0 €0
Total Current Assets
€19,000 €31,915 €29,705 €31,000 €31,149 €31,528 €31,505 €37,863 €28,070 €32,896
Long-term AssetsLong-term Assets
€0 €0 €0 €0 €0 €0 €0 €0 €0
Accumulated Depreciation
€0 €0 €0 €0 €0 €0 €0 €0 €0
Total Long- €0 €0 €0 €0 €0 €0 €0 €0 €0
Page 5
term AssetsTotal Assets €19,000 €31,915 €29,705 €31,000 €31,149 €31,528 €31,505 €37,863 €28,070 €32,896
Liabilities and Capital
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9
Current LiabilitiesAccounts Payable
€0 €12,709 €9,205 €9,205 €8,654 €8,722 €8,930 €12,467 €5,143
Current Borrowing
€0 €0 €0 €0 €0 €0 €0 €0 €0
Other Current Liabilities
€0 €0 €0 €0 €0 €0 €0 €0 €0
Subtotal Current Liabilities
€0 €12,709 €9,205 €9,205 €8,654 €8,722 €8,930 €12,467 €5,143
Long-term Liabilities
€0 €0 €0 €0 €0 €0 €0 €0 €0
Total Liabilities
€0 €12,709 €9,205 €9,205 €8,654 €8,722 €8,930 €12,467 €5,143
Paid-in Capital
€300,000 €300,000 €300,000 €300,000 €300,000 €300,000 €300,000 €300,000 €300,000 €300,000
Retained Earnings
(€281,000) (€281,000) (€281,000) (€281,000) (€281,000) (€281,000) (€281,000) (€281,000) (€281,000) (€281,000)
Earnings €0 €206 €1,501 €2,795 €3,495 €3,806 €3,575 €6,396 €3,927 Total Capital €19,000 €19,206 €20,501 €21,795 €22,495 €22,806 €22,575 €25,396 €22,927 €23,263 Total €19,000 €31,915 €29,705 €31,000 €31,149 €31,528 €31,505 €37,863 €28,070 €32,896
Page 6
Liabilities and Capital
Net Worth €19,000 €19,206 €20,501 €21,795 €22,495 €22,806 €22,575 €25,396 €22,927 €23,263
Page 7
