Start-up | |
Requirements | |
Start-up Expenses | |
Legal | $500 |
Insurance | $0 |
Rent | $800 |
Inventory | $7,000 |
Display Equipment | $2,000 |
Store Sign | $2,000 |
Other | $0 |
Total Start-up Expenses | $12,300 |
Start-up Assets | |
Cash Required | $12,700 |
Start-up Inventory | $0 |
Other Current Assets | $0 |
Long-term Assets | $0 |
Total Assets | $12,700 |
Total Requirements | $25,000 |
Store products include:
The McKenzie National Park System is dotted with a number of small fishing tackle and bait shops on small roads around the park system. Most of them only serve a few fishing areas and have irregular operating hours. Highway 126 is the only main traffic artery into the park system and yet there are currently no other tackle and bait shop located on Highway 126. This is because the closest commercial center to the park system, Oakridge Plaza, is eight miles from the park’s entrance. Over 90% of the park visitors use Highway 126 to access the park system. Last year, the park system welcomed 100,000 fishing enthusiasts.
These enthusiasts were typically male between the ages of 20-45 years old. A fishing party of three to five is the norm for the area. Approximately 70% of these fishing enthusiasts visit the park system several times a year and develop strong customer relationships with the area’s businesses.
The McKenzie Tackle and Bait Shop will create a base of loyal customers with quality service and fishing information that customers will come to depend.
Highway 126 is a four-lane highway running north to the park system and south to the town of Mapleton. The McKenzie Tackle and Bait Shop is located just off the northbound lanes and is next to the Oakridge Plaza. The shop will erect a large sign to grab customer attention to its location.
Once in the store, Brad West will provide the exceptional service that will build a loyal customer base.
McKenzie Tackle and Bait Shop’s competitive edge is two-fold:
The key to customer satisfaction is a customer-friendly store that is easy to navigate and has knowledgeable people to help customers find what they want quickly.
The following is the sales forecast for three years. The monthly estimates for the first year are included in the appendices.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Fishing Products | $48,400 | $60,000 | $70,000 |
Misc | $7,600 | $8,000 | $9,000 |
Total Sales | $56,000 | $68,000 | $79,000 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Fishing Products | $7,000 | $9,000 | $10,000 |
Misc | $1,500 | $1,750 | $2,000 |
Subtotal Direct Cost of Sales | $8,500 | $10,750 | $12,000 |
Brad West will operate the shop without any additional staff.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Brad West | $24,000 | $28,000 | $35,000 |
Other | $0 | $0 | $0 |
Total People | 1 | 1 | 1 |
Total Payroll | $24,000 | $28,000 | $35,000 |
The following sections will outline the important financial assumptions, break-even analysis, profit and loss, cash flow, and the balance sheet.
The break-even analysis indicates what is needed in monthly revenue to break even.
Break-even Analysis | |
Monthly Revenue Break-even | $4,595 |
Assumptions: | |
Average Percent Variable Cost | 15% |
Estimated Monthly Fixed Cost | $3,898 |
The following table and charts will highlight projected profit and loss. The appendices include first year monthly P & L estimates.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $56,000 | $68,000 | $79,000 |
Direct Cost of Sales | $8,500 | $10,750 | $12,000 |
Other Production Expenses | $0 | $0 | $0 |
Total Cost of Sales | $8,500 | $10,750 | $12,000 |
Gross Margin | $47,500 | $57,250 | $67,000 |
Gross Margin % | 84.82% | 84.19% | 84.81% |
Expenses | |||
Payroll | $24,000 | $28,000 | $35,000 |
Sales and Marketing and Other Expenses | $8,000 | $10,000 | $11,000 |
Depreciation | $0 | $0 | $0 |
Leased Equipment | $0 | $0 | $0 |
Utilities | $1,470 | $1,800 | $1,800 |
Insurance | $0 | $0 | $0 |
Rent | $9,700 | $9,700 | $9,700 |
Payroll Taxes | $3,600 | $4,200 | $5,250 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $46,770 | $53,700 | $62,750 |
Profit Before Interest and Taxes | $730 | $3,550 | $4,250 |
EBITDA | $730 | $3,550 | $4,250 |
Interest Expense | $0 | $0 | $0 |
Taxes Incurred | $219 | $1,065 | $1,275 |
Net Profit | $511 | $2,485 | $2,975 |
Net Profit/Sales | 0.91% | 3.65% | 3.77% |
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $56,000 | $68,000 | $79,000 |
Subtotal Cash from Operations | $56,000 | $68,000 | $79,000 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
Subtotal Cash Received | $56,000 | $68,000 | $79,000 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $24,000 | $28,000 | $35,000 |
Bill Payments | $32,132 | $35,243 | $40,920 |
Subtotal Spent on Operations | $56,132 | $63,243 | $75,920 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $56,132 | $63,243 | $75,920 |
Net Cash Flow | ($132) | $4,757 | $3,080 |
Cash Balance | $12,568 | $17,325 | $20,405 |
The following is the projected balance sheet for three years. The first year monthly projections can be seen in the appendix.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $12,568 | $17,325 | $20,405 |
Inventory | $1,170 | $1,480 | $1,652 |
Other Current Assets | $0 | $0 | $0 |
Total Current Assets | $13,738 | $18,805 | $22,057 |
Long-term Assets | |||
Long-term Assets | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 |
Total Assets | $13,738 | $18,805 | $22,057 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $527 | $3,109 | $3,386 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $527 | $3,109 | $3,386 |
Long-term Liabilities | $0 | $0 | $0 |
Total Liabilities | $527 | $3,109 | $3,386 |
Paid-in Capital | $25,000 | $25,000 | $25,000 |
Retained Earnings | ($12,300) | ($11,789) | ($9,304) |
Earnings | $511 | $2,485 | $2,975 |
Total Capital | $13,211 | $15,696 | $18,671 |
Total Liabilities and Capital | $13,738 | $18,805 | $22,057 |
Net Worth | $13,211 | $15,696 | $18,671 |
Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) code 5091, Sporting & Recreational Goods, are shown for comparison.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 21.43% | 16.18% | 11.50% |
Percent of Total Assets | ||||
Inventory | 8.52% | 7.87% | 7.49% | 28.00% |
Other Current Assets | 0.00% | 0.00% | 0.00% | 29.00% |
Total Current Assets | 100.00% | 100.00% | 100.00% | 88.70% |
Long-term Assets | 0.00% | 0.00% | 0.00% | 11.30% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 3.83% | 16.53% | 15.35% | 38.00% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 9.00% |
Total Liabilities | 3.83% | 16.53% | 15.35% | 47.00% |
Net Worth | 96.17% | 83.47% | 84.65% | 53.00% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 84.82% | 84.19% | 84.81% | 23.00% |
Selling, General & Administrative Expenses | 83.91% | 80.54% | 81.04% | 14.80% |
Advertising Expenses | 14.29% | 14.71% | 13.92% | 0.70% |
Profit Before Interest and Taxes | 1.30% | 5.22% | 5.38% | 2.00% |
Main Ratios | ||||
Current | 26.08 | 6.05 | 6.51 | 2.19 |
Quick | 23.86 | 5.57 | 6.03 | 1.22 |
Total Debt to Total Assets | 3.83% | 16.53% | 15.35% | 47.00% |
Pre-tax Return on Net Worth | 5.53% | 22.62% | 22.76% | 5.30% |
Pre-tax Return on Assets | 5.31% | 18.88% | 19.27% | 10.10% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 0.91% | 3.65% | 3.77% | n.a |
Return on Equity | 3.87% | 15.83% | 15.93% | n.a |
Activity Ratios | ||||
Inventory Turnover | 9.23 | 8.11 | 7.66 | n.a |
Accounts Payable Turnover | 61.99 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 18 | 29 | n.a |
Total Asset Turnover | 4.08 | 3.62 | 3.58 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.04 | 0.20 | 0.18 | n.a |
Current Liab. to Liab. | 1.00 | 1.00 | 1.00 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $13,211 | $15,696 | $18,671 | n.a |
Interest Coverage | 0.00 | 0.00 | 0.00 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.25 | 0.28 | 0.28 | n.a |
Current Debt/Total Assets | 4% | 17% | 15% | n.a |
Acid Test | 23.86 | 5.57 | 6.03 | n.a |
Sales/Net Worth | 4.24 | 4.33 | 4.23 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
Fishing Products | 0% | $0 | $0 | $0 | $4,000 | $5,400 | $6,000 | $6,000 | $7,000 | $8,000 | $7,000 | $5,000 | $0 |
Misc | 0% | $0 | $0 | $0 | $800 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $800 | $0 |
Total Sales | $0 | $0 | $0 | $4,800 | $6,400 | $7,000 | $7,000 | $8,000 | $9,000 | $8,000 | $5,800 | $0 | |
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 | |
Fishing Products | $0 | $0 | $0 | $700 | $800 | $800 | $900 | $1,000 | $800 | $1,000 | $600 | $400 | |
Misc | $0 | $0 | $0 | $150 | $200 | $200 | $200 | $200 | $200 | $200 | $150 | $0 | |
Subtotal Direct Cost of Sales | $0 | $0 | $0 | $850 | $1,000 | $1,000 | $1,100 | $1,200 | $1,000 | $1,200 | $750 | $400 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Brad West | 0% | $0 | $0 | $0 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $0 |
Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total People | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |
Total Payroll | $0 | $0 | $0 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $0 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $0 | $0 | $0 | $4,800 | $6,400 | $7,000 | $7,000 | $8,000 | $9,000 | $8,000 | $5,800 | $0 | |
Direct Cost of Sales | $0 | $0 | $0 | $850 | $1,000 | $1,000 | $1,100 | $1,200 | $1,000 | $1,200 | $750 | $400 | |
Other Production Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $0 | $0 | $0 | $850 | $1,000 | $1,000 | $1,100 | $1,200 | $1,000 | $1,200 | $750 | $400 | |
Gross Margin | $0 | $0 | $0 | $3,950 | $5,400 | $6,000 | $5,900 | $6,800 | $8,000 | $6,800 | $5,050 | ($400) | |
Gross Margin % | 0.00% | 0.00% | 0.00% | 82.29% | 84.38% | 85.71% | 84.29% | 85.00% | 88.89% | 85.00% | 87.07% | 0.00% | |
Expenses | |||||||||||||
Payroll | $0 | $0 | $0 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $0 | |
Sales and Marketing and Other Expenses | $0 | $0 | $0 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $0 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Utilities | $40 | $40 | $40 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | |
Insurance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Rent | $900 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | |
Payroll Taxes | 15% | $0 | $0 | $0 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $0 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $940 | $840 | $840 | $5,400 | $5,400 | $5,400 | $5,400 | $5,400 | $5,400 | $5,400 | $5,400 | $950 | |
Profit Before Interest and Taxes | ($940) | ($840) | ($840) | ($1,450) | $0 | $600 | $500 | $1,400 | $2,600 | $1,400 | ($350) | ($1,350) | |
EBITDA | ($940) | ($840) | ($840) | ($1,450) | $0 | $600 | $500 | $1,400 | $2,600 | $1,400 | ($350) | ($1,350) | |
Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Taxes Incurred | ($282) | ($252) | ($252) | ($435) | $0 | $180 | $150 | $420 | $780 | $420 | ($105) | ($405) | |
Net Profit | ($658) | ($588) | ($588) | ($1,015) | $0 | $420 | $350 | $980 | $1,820 | $980 | ($245) | ($945) | |
Net Profit/Sales | 0.00% | 0.00% | 0.00% | -21.15% | 0.00% | 6.00% | 5.00% | 12.25% | 20.22% | 12.25% | -4.22% | 0.00% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $0 | $0 | $0 | $4,800 | $6,400 | $7,000 | $7,000 | $8,000 | $9,000 | $8,000 | $5,800 | $0 | |
Subtotal Cash from Operations | $0 | $0 | $0 | $4,800 | $6,400 | $7,000 | $7,000 | $8,000 | $9,000 | $8,000 | $5,800 | $0 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $0 | $0 | $0 | $4,800 | $6,400 | $7,000 | $7,000 | $8,000 | $9,000 | $8,000 | $5,800 | $0 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $0 | $0 | $0 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $0 | |
Bill Payments | $22 | $656 | $588 | $693 | $3,744 | $3,566 | $3,586 | $3,772 | $4,132 | $4,175 | $3,996 | $3,203 | |
Subtotal Spent on Operations | $22 | $656 | $588 | $3,693 | $6,744 | $6,566 | $6,586 | $6,772 | $7,132 | $7,175 | $6,996 | $3,203 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $22 | $656 | $588 | $3,693 | $6,744 | $6,566 | $6,586 | $6,772 | $7,132 | $7,175 | $6,996 | $3,203 | |
Net Cash Flow | ($22) | ($656) | ($588) | $1,107 | ($344) | $435 | $414 | $1,228 | $1,868 | $825 | ($1,196) | ($3,203) | |
Cash Balance | $12,678 | $12,022 | $11,434 | $12,541 | $12,197 | $12,632 | $13,046 | $14,273 | $16,142 | $16,967 | $15,771 | $12,568 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $12,700 | $12,678 | $12,022 | $11,434 | $12,541 | $12,197 | $12,632 | $13,046 | $14,273 | $16,142 | $16,967 | $15,771 | $12,568 |
Inventory | $0 | $0 | $0 | $0 | $935 | $1,100 | $1,100 | $1,210 | $1,320 | $1,320 | $1,320 | $1,570 | $1,170 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $12,700 | $12,678 | $12,022 | $11,434 | $13,476 | $13,297 | $13,732 | $14,256 | $15,593 | $17,462 | $18,287 | $17,341 | $13,738 |
Long-term Assets | |||||||||||||
Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Assets | $12,700 | $12,678 | $12,022 | $11,434 | $13,476 | $13,297 | $13,732 | $14,256 | $15,593 | $17,462 | $18,287 | $17,341 | $13,738 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $636 | $568 | $568 | $3,625 | $3,446 | $3,461 | $3,635 | $3,992 | $4,041 | $3,886 | $3,185 | $527 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $636 | $568 | $568 | $3,625 | $3,446 | $3,461 | $3,635 | $3,992 | $4,041 | $3,886 | $3,185 | $527 |
Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Liabilities | $0 | $636 | $568 | $568 | $3,625 | $3,446 | $3,461 | $3,635 | $3,992 | $4,041 | $3,886 | $3,185 | $527 |
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 | ($12,300) | ($12,300) | ($12,300) | ($12,300) | ($12,300) | ($12,300) | ($12,300) | ($12,300) | ($12,300) | ($12,300) | ($12,300) | ($12,300) | ($12,300) |
Earnings | $0 | ($658) | ($1,246) | ($1,834) | ($2,849) | ($2,849) | ($2,429) | ($2,079) | ($1,099) | $721 | $1,701 | $1,456 | $511 |
Total Capital | $12,700 | $12,042 | $11,454 | $10,866 | $9,851 | $9,851 | $10,271 | $10,621 | $11,601 | $13,421 | $14,401 | $14,156 | $13,211 |
Total Liabilities and Capital | $12,700 | $12,678 | $12,022 | $11,434 | $13,476 | $13,297 | $13,732 | $14,256 | $15,593 | $17,462 | $18,287 | $17,341 | $13,738 |
Net Worth | $12,700 | $12,042 | $11,454 | $10,866 | $9,851 | $9,851 | $10,271 | $10,621 | $11,601 | $13,421 | $14,401 | $14,156 | $13,211 |
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1. describe the purpose of your fish farm business..
The first step to writing your business plan is to describe the purpose of your fish farm business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.
It also helps to include a vision statement so that readers can understand what type of company you want to build.
Here is an example of a purpose mission statement for a fish farm business:
Our mission at Fish Farm is to provide the highest quality sustainably-raised fish for a variety of uses. We aim to develop innovative, responsible farming practices that lead to flourishing ecosystems and healthy communities. We work to promote responsible aquaculture and waterway conservation, creating a healthier planet for generations to come.
The next step is to outline your products and services for your fish farm business.
When you think about the products and services that you offer, it's helpful to ask yourself the following questions:
You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.
If you don't have a marketing plan for your fish farm business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals.
A good marketing plan for your fish farm business includes the following elements:
Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations.
In it, you should list:
Equipment, supplies, and permits needed to run a Fish Farm business include:
The second part of your fish farm business plan is to develop a management and organization section.
This section will cover all of the following:
This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.
Typically, expenses for your business can be broken into a few basic categories:
Startup Costs
Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a fish farm business varies based on many different variables, but below are a few different types of startup costs for a fish farm business.
Running & Operating Costs
Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.
Marketing & Sales Expenses
You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your fish farm business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.
A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your fish farm business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses.
Here are some steps you can follow to devise a financial plan for your fish farm business plan:
Why do you need a business plan for a fish farm business.
A business plan for a fish farm business is necessary in order to have a clear understanding of the costs and operations needed to get the business off the ground. It also provides an outline of objectives and milestones that will help entrepreneurs anticipate problems and make decisions more objectively. The business plan should include cost estimates, market analysis, resource requirements, capital investments, and an operating plan. Additionally, it can be used to secure financing or to attract investors.
It is a good idea to consult with experts when creating a business plan for a fish farm. Consider reaching out to local fisheries and fish farming associations, or to fish farm management consultants. You may also find online resources such as guides and tutorials that provide guidance on creating a business plan for a fish farm.
Writing a business plan for a fish farm can be a complex process, requiring research and analysis in multiple areas. An experienced professional is best positioned to provide comprehensive guidance in crafting an effective plan that not only meets the needs of the business but also aligns with the vision and goals of its owner. For those who wish to write their own plan, there are templates and resources available online that can be used as a guide. Additionally, there are several books and other materials specifically dedicated to providing advice and direction on developing a business plan for a fish farm.
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The risk of the business is mainly getting a market and we have already identified our. target market. The cost benefit analysis of this plan shows that in the startup year, with. 12,000 ...
Here Is The Download Link To Business Plan Proposal For Fish Farming By Agrolearner Business Model for Agrolearner.com's Fish Farming Business. Value Proposition: Agrolearner.com Farm aims to provide the local market with high-quality, sustainable, and locally-produced fish products. Our value proposition includes:
A business plan is a critical first step before launching any new project, as it provides a framework to help you identify potential risks, set goals and measure progress. It is essential for determining the viability of a fish market. In short, a good business plan will help make sure your fish market is profitable.
Writing a fishing farming business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready ...
Here is a free business plan sample for a fish market. January 29, 2024. If the allure of the ocean's bounty has inspired you to start your own fish market but you're unsure of the first steps to take, you've cast your net in the right place. In the following paragraphs, we will present to you a comprehensive sample business plan tailored for a ...
FISHING FARMING BUSINESS PLAN. (FIFA ENTERPRISES) Name of owner: GAKURU Elias. The business owner title: General Manager. Business name: UTAM Fishes Company. Tel: 0788768413. gakuruelias6@gmail ...
This plan is crucial for outlining operational strategies and financial projections. Embarking on an aquaculture business journey involves meticulous planning and a clear understanding of the industry's nuances. Your path to a successful fish farming enterprise begins with the creation of a detailed business plan PDF, which serves as a ...
AQUACULTURE BUSINESS PLANNING. Mark A. Peterman, Ganesh Kumar, and Peter J. Allen. A successful aquaculture business earns a profit by supplying products or services that meet the demands of a particular market. Many segments of the aquaculture market have business potential. Examples include, but are not limited to, the production of seed ...
Business Plan for Fish Farming - Free download as PDF File (.pdf), Text File (.txt) or read online for free. This document provides a comprehensive business plan for starting a fish farming business in 2018. It outlines the necessary requirements and start-up capital needed, including purchasing land, hiring staff, obtaining permits and licenses.
View PDF. Fish-Farm Business Plan Workbook Produced by: Susan Daily, CPA Dan Selock, M.S. and Sue Kohler, Ph.D. Southern Illinois University Southern Illinois University Small Business Development Center Community and Business Services Dunn-Richmond Economic Development Center Dunn-Richmond Economic Development Center 150 East Pleasant Hill ...
Fish-Farming-Business-Plan-1 - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Here are the key objectives of Adekunle Fisheries fish farm business based on the information provided: Objectives - Cultivate catfish and shrimp in concrete ponds to sell in bulk to local foodstuff traders, restaurants, and hotels in Ogba and surrounding areas.
View PDF. Fish Farming Business Plan and Financial Estimation Fish Farming Fish farming means 'raising fish commercially in tanks, ponds or other enclosures for the purpose of producing food'. Commercial fish farming has already established as a profitable business venture throughout the world. Fish is a great source of food and protein.
Marketing Plan. Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a fish farm business plan, your marketing plan should include the following: Product: In the product section, you should reiterate the type of fish farm company that you documented in your Company Analysis.
The fish farm industry is expected to grow over the next five years to over $202 billion. The growth will be driven by the increased need for regulated raising and harvesting of fresh fish and crustaceans. The growth will also be driven by the consumer demand for sustainable fish-farmed sources of fish.
ClickUp's Business Plan Template for Fish Farmers provides all the necessary elements to help fish farmers create a comprehensive and effective business plan for their aquaculture operations. Key features of this template include: Custom Statuses: Track the progress of different sections of your business plan using statuses such as Complete, In ...
Download Free PDF. Download Free PDF. ... ACC1078 Page 8 STEVARON catfish business plan MARKET ANALYSIS Fish Farming in Nigeria started gaining wide spread recognition in the year 2000 and has now become a business that all farmers are venturing into. ... to facilitate the selling of our fish as we intend to dominate the whole of North Eastern ...
With the right plan and guidebook in place, you can get up and running in no time. The #1 Catfish Farming Business Plan Template & Guidebook is an invaluable resource for any entrepreneur looking to launch their very own successful catfish farm. With this guide, you'll have all the key information needed to formulate and execute a comprehensive ...
Business plan (fish farming) - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. This document provides an overview of a proposed fish farming project in Ethiopia. It discusses that the project aims to address protein deficiency in Ethiopia by producing tilapia fish. It is estimated that the ...
To ensure the profitability and success of your fish farming venture, consider the following tips: fish farming business plan. Maintain water quality and monitoring systems: Regularly test and monitor water parameters such as temperature, pH, and oxygen levels. Implement filtration systems and proper water circulation to ensure optimal ...
Fish Farming Business Plan - Free download as PDF File (.pdf), Text File (.txt) or read online for free. This document is a business plan for a fish farming business called Majesty of Justice Farms located in Abuja, Nigeria. The business plan outlines an analysis of the fish farming industry, describing growing demand for fish in Nigeria and opportunity for expansion.
Explore a real-world fishing shop business plan example and download a free template with this information to start writing your own business plan. ... They need the right product or the best information on where to fish. McKenzie Tackle and Bait Shop will offer exceptional service and get the customers on their way so they can enjoy a day of ...
FISH BUSINESS PLAN - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. Marvel Fish and Sea Foods Ltd is a fish farming business located in Awkunanw, Enugu State. It will be owned and managed by Ozor Marvel Chinelo. The business will focus on raising various fish species like catfish and tilapia for sale.
The #1 Fish Farm Business Plan Template & Guidebook is a comprehensive tool to help you create a solid business plan, prepare for the future, and make sure your venture is off to a successful start. With this one-stop template, you'll be able to easily ensure that your business has the right foundation and strategy in place to guarantee success ...