Southern Taiwan University of Technology
Global Master of Business Administration
Course: Entrepreneurship and Innovation Management
Prepared for: Prof. Cheng-Nan Chen
Final paper
Yes! I do! Business Plan
Anja Grgic
M997Z205
Marko Marinic
M997Z206
Marie Nikki Martinez
M997Z208
December, 2011
Table of Contents
I.
II.
III.
IV.
V.
VI.
VII.
EXECUTIVE SUMMARY
BUSINESS DESCRIPTION AND VISION
DEFINITION OF THE MARKET
DESCRIPTION OF PRODUCTS AND SERVICES
ORGANIZATION AND MANAGEMENT
MARKETING AND SALES STRATEGY
FINANCIAL MANAGEMENT
1. Executive summary
Yes! I do! is a bridal gown shop like no other. While most retail bridal shops are selling
wedding gowns that many people nowadays feel are unreasonably priced, our shop will
provide a solution and fill that gap.
Based in Croatia, Yes! I do! will meet the unmet market demand of wedding gowns that is for
the price sensitive customers. Yes! I do! will provide a number of different middle and low
end bridal gowns, without compromising quality and style. In addition, contacts to related
services will be given to customers.
Wedding preparations especially bridal gowns are perceived as very costly. Traditionally, it is
the parents of the bride or groom that are paying for the wedding. But, times are tougher.
Nowadays, it is the couple that needs to save a lot of money for their own wedding. It is
therefore very practical to provide this kind of product and/or service at a price that both
young and old couples can afford.
To keep our customers, we will make sure that the quality of our stock is excellent and we
need to provide our customers with exemplary service.
2. Business description and vision
2.1. Products and Services
Yes! I do! will primarily generate its revenues from the sale of bridal gowns. The Company
will specialize in the sale of low and middle end gowns and other related products. Ms. Anja
Grgic is currently sourcing several inventory suppliers that will provide the business with its
gowns, shoes and accessories.
2.2. Vision Statement
At Yes! I do!, our vision is to be the premier bridal shop in the industry, by providing our
customers with beautiful and quality wedding gowns and superior service.
2.3. Mission Statement
Yes! I do!’s mission is to become the first and the recognized leader in Croatia in its targeted
market for low and middle end bridal gowns and related products and ensure that all
customers leave the store completely satisfied.
2.4. Objectives
Whatever the age, style, preference of our customers may be, we want everything they want
for their wedding to be done perfectly. It is a special day for them so we want every detail of
their event to be both a pleasurable and a memorable experience. Therefore we offer a wide
array of gowns and dresses for them to choose from and provide them contacts for other
services they specifically need.
2.5. Management Team
The Company was founded by Ms. Anja Grgic. Ms. Anja Grgic has worked as an employee,
assistant manager and manager for several clothes stores in the capital of Croatia, Zagreb.
Through her expertise, she will be able to bring the operations of the business to profitability
within its first year of operations.
2.6. The Financing
Ms. Anja Grgic is seeking to raise $31.400 from personal savings and help from family and
close friends.
2.7. Sales Forecasts
Yes! I do! expects a growth rate at the start of operations. The Founder expects that the
business will aggressively expand during the first three years of operation. Below are the
expected financials over the next three years.
Pro Forma Profit and Loss
Sales
Direct Cost of Sales
Other Costs of Sales
Total Cost of Sales
FY 2013
$204.000
$89.760
$0
$89.760
FY 2014
$300.000
$120.000
$0
$120.000
FY 2015
$350.000
$140.000
$0
$140.000
Gross Margin
Gross Margin %
$114.240
56,00%
$180.000
60,00%
$210.000
60,00%
Expenses
Payroll
Marketing/Promotion
Depreciation
Rent
Utilities
Insurance
Payroll Taxes
Other
$17.000
$3.600
$0
$7.200
$1.200
$0
$2.550
$0
$18.000
$2.000
$0
$7.200
$1.200
$0
$2.700
$0
$24.000
$2.000
$0
$7.200
$1.200
$0
$3.600
$0
Total Operating Expenses
$31.550
$31.100
$38.000
Profit Before Interest and Taxes
EBITDA
Interest Expense
Taxes Incurred
$82.690
$82.690
$0
$24.807
$148.900
$148.900
$0
$44.670
$172.000
$172.000
$0
$51.600
Net Profit
Net Profit/Sales
$57.883
28,37%
$104.230
34,74%
$120.400
34,40%
3. Definition of the Market
Wedding industry is one of the most profitable industries in USA. It is known as a „recession
proof“ industry, because no matter the financial problems, people still tend to spend large
amounts of money for the biggest day in their life. Some researchers showed that wedding
today incorporates more elements and more personalization than ever before. Costs of
wedding dresses increased, as well as demand for more accessories. Although this industry is
big in terms of profits, it is very hard to track it completely. Wedding industry consist of a lot
of small enterprises such as wedding gowns boutiques, catering services, photographers,
florists etc.
Our customers’ don´t want to spend fortune on one night dress but still look nice. Demand in
this area is very high as market is still filled with expensive Italian/French design gowns.
However, labeling product under Italian/French is not the measure of quality or good design
anymore. We think customers unfortunately are paying only for the name. Our suppliers work
with quality materials and latest design trends and are capable to fulfill every girl´s dream.
Our supplier´s dresses:
Our competitor’s dresses:
In Croatia, people traditionally like big weddings. People are ready to save money or even get
a loan to have a wedding. Additionally, brides like to wear traditionally large gowns instead
of more informal dresses. But, due to financial crisis, some changes on a market happened.
Market is characterized by slow growth, because people are recently became more price
conscious. There are no big competitors, as bridal shops are held by small enterprises. Under
these conditions, we see our shop can carry competitive advantage and additionally, gain
profit. As our market is becoming price sensitive, we can offer great prices as well as
exceptional service for a reasonable price. Our shop has an opportunity to fulfill some new
trends, as it can be a channel to other services, and thus make integrated service.
3.1. Competition
Sole- proprietor shops- this style is single outlet. It is hard to categorize much beyond this.
There are some high-end independent shops as well as some budget ones (but their price is
still high). These stores are often relying on knowledge of local tastes.
3.2. Market Segmentation
Yes! I do! has chosen its market segment. Yes! I do! will be targeting low-to middle-income
brides. Our products are aimed at price sensitive brides. They can be young, at the beginning
of their careers, so they don´t have big buying power, but still want to have a nice dress.
However, our shop will welcome brides from 18-45 years, as long as they feel that buying a
dress for a high price is not what they want. Before, it is the parents of the bride who are
responsible for the costs of the wedding, but trends changed, so today young couple is the one
responsible for the wedding.
Our customers can benefit from us by not giving fortune for the beautiful dress whey will
wear once and by receiving exceptional service. We want our customer feel like queen by not
paying the queen prices.
Market Analysis
2012
2013
2014
2015
2016
0%
1.770.000
1.770.000
1.770.000
1.770.000
1.770.000
0,00%
0%
0,00%
0
1.770.000
0
1.770.000
0
1.770.000
0
1.770.000
0
1.770.000
0,00%
0,00%
Potential Customers
Growth
Women 18-45 years
old
Other
Total
CAGR
4. Promotion
Due to the first three months, Yes! I do! bridal shop will advertise in main Croatian´s
magazines for woman (Gloria, Story). As the owner has personal insight into some fashion
web-sites, sponsored articles will be written. Also, there are some Croatian´s web sites and
forums specialized for weddings and wedding related services. Yes! I do! will put ads in form
of banners to this websites. Croatians are predominately Catholics, so weddings are usually
attached to the church. Every couple who wants to marry in a church needs to have a religion
preparation for several weeks. These meetings are usually held for a large group of people, so
our shop will make brochures and divide them among the couples. The least, but likely the
most important, our shop´s promotion will rely on word-of-mouth from our previous
customers. That is why our service needs to be excellent.
5. Description of Product and Service
Yes! I do! is a bridal shop in which one can buy wedding dresses. Assortment contains
different styles of wedding gowns, from more traditional dresses to more casual evening
dresses/gowns. Since colors became popular, we included some wedding gowns in other
colors than white. In addition to that, our customers can also purchase wedding accessories
and shoes.
Yes! I do! has two competitive advantages that will help us grow our customer base.
5.1. The lowest price
The first is the idea of lowering the price of wedding gowns. How do we attend to do that?
We are cutting the „middle man„ by going straight to the production company doors. We
established connections with factories in China (Shenzhen) and Taiwan (Taipei). Our supply
of goods process will be as followed. Our company buys wedding gowns and accessories
online at the wholesale price (which will be around $200 for the dress). Then, our company
needs to import goods. For this reason, we will establish wedding shop and import firm.
Therefore, our legal costs will be higher. Still, because of the cutting of all the middle man,
we can fix our prices in range around $400 for the purchased dress.
Table presents current prices of wedding dresses in main Croatian cities.
The price of the
Zagreb
Osijek
Rijeka
Split
wedding dress1
$760
$700
$600
$600
(main cities)
5.2. Service
Our second advantage will be our service. Yes! I do! established collaboration with top local
wedding related service providers such as catering, photography, and flowers. We think this
will give unique experience to our customers. This unique experience starts when our
customer enters our store. Brides usually start their search for a wedding dress some six
months before. At that time, she is at the beginning process of planning the wedding. And
here our service becomes unique. We will provide contacts for other services. By giving them
our hand to help with other services they need, we are building benchmark of a shop that care
about their customers. Yes! I do! provides wedding gowns at a low prices, but without any
damage to quality of the products and service.
We want to serve our customer in unique way, helping them with best manners from shopping
their „dream dress“ to the process of choosing best florists, photographers, caters etc. Also,
our store will be big enough to welcome bride´s help (mom, sisters, and cousins) and we do
not have any limits concerning the number of dresses one want to try.
Summary of customer benefits in Yes! I do!:
- Our shop as a link to other services connected with wedding- direct benefit for
customer, indirect- to our shop´s reputation (word-of-mouth)
1
This is the retail price. The prices of the purchased dresses are between $1000 to $7,000.
-
Exceptional service, no matter the price of the wedding dress (when entering the store,
our customer will be offered to relax on a couch with a cup of tea or coffee, some
cookies- showing them we CARE…)
6. Organization and Management
6.1. Management Summary
Grgic Anja received her undergraduate degree in Media Science from Faculty of Political
Science, University of Zagreb. During her studies, she was working as sales personnel in
several clothes stores in capital of Croatia, Zagreb. Within a year of working, she moved up to
assistant manager first and then manager because of her attention to detail, her people skills
and her general management skills.
After graduation, Anja decided to go for academic knowledge of management and business,
so she enrolled MBA program in Southern Taiwan University, Tainan. Living and studying in
Taiwan helped Anja to get the idea about her own business. With the help of Marko Marinic,
her fiancé, she contacted wedding dress factories and realized the prices of dresses were much
cheaper than the one´s in Croatia. That is how business idea was born.
6.2. Personnel Plan
Anja will work for Yes! I do! full time. If needed later, Anja will hire one part-time
employee, preferably student. Supply, accounting and purchase of goods Anja will handle by
herself. She will take care of the interior design at the beginning, as well as providing the
service of seamstress when needed. If necessary, her family members will help. Yes! I do!
store will work six days a week with the following working time; Monday to Friday 9:00 to
1:00 and 5:00 to 8:00, Saturday 9:00 to 1:00.
Anja´s yearly salary
$12,000
7. Financial plan
7.1. Start-up cost
Start-up
Requirements
Start-up Expenses
Legal
Computer with a point of sale terminal
Legal software
Rent
Display racks, couches, desk, chairs, mirrors, fitting rooms
Website development
Total Start-up Expenses
$2.000
$500
$500
$600
$2.000
$800
$6.400
Start-up Assets
Cash Required
Start-up Inventory
Other Current Assets
Long-term Assets
Total Assets
$15.000
$10.000
$0
$0
$25.000
Total Requirements
$31.400
7.2. Sales forecast
Sales Forecast
FY 2013
FY 2014
FY 2015
Wedding dresses
408
0
600
0
700
0
Total Unit Sales
408
600
700
FY 2013
$500,00
$0,00
FY 2014
$500,00
$0,00
FY 2015
$500,00
$0,00
$204.000
$0
$204.000
$300.000
$0
$300.000
$350.000
$0
$350.000
FY 2013
$220,00
$0,00
FY 2014
$200,00
$0,00
FY 2015
$200,00
$0,00
$89.760
$0
$89.760
$120.000
$0
$120.000
$140.000
$0
$140.000
Unit Sales
Unit Prices
Wedding dresses
0
Sales
Wedding dresses
0
Total Sales
Direct Unit Costs
Wedding dresses
0
Direct Cost of Sales
Wedding dresses
0
Subtotal Direct Cost of Sales
Sales
Forecast
tra
svi
lip
srp
kol
ruj
lis
stu
pro
sij
vlj
ožu
Wedding
dresses
12
16
20
24
28
32
36
40
44
48
52
56
0
0
0
0
0
0
0
0
0
0
0
0
Total Unit
Sales
12
16
20
24
28
32
36
40
44
48
52
56
Unit Sales
Unit Prices
Wedding
dresses
0
tra
svi
lip
srp
kol
ruj
lis
stu
pro
sij
vlj
ožu
$500,00
$500,00
$500,00
$500,00
$500,00
$500,00
$500,00
$500,00
$500,00
$500,00
$500,00
$500,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$6.000
$8.000
$10.000
$12.000
$14.000
$16.000
$18.000
$20.000
$22.000
$24.000
$26.000
$28.000
Sales
Wedding
dresses
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Sales
0
$6.000
$8.000
$10.000
$12.000
$14.000
$16.000
$18.000
$20.000
$22.000
$24.000
$26.000
$28.000
Direct Unit
Costs
Wedding
dresses
tra
svi
lip
srp
kol
ruj
lis
stu
pro
sij
vlj
ožu
0,00%
$220,00
$220,00
$220,00
$220,00
$220,00
$220,00
$220,00
$220,00
$220,00
$220,00
$220,00
$220,00
0,00%
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$0,00
$2.640
$3.520
$4.400
$5.280
$6.160
$7.040
$7.920
$8.800
$9.680
$10.560
$11.440
$12.320
0
Direct Cost
of Sales
Wedding
dresses
0
Subtotal
Direct Cost
of Sales
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$2.640
$3.520
$4.400
$5.280
$6.160
$7.040
$7.920
$8.800
$9.680
$10.560
$11.440
$12.320
7.3. Start-up funding
Start-up Funding
Start-up Expenses to Fund
Start-up Assets to Fund
Total Funding Required
$6.400
$25.000
$31.400
Assets
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Total Assets
$10.000
$15.000
$0
$15.000
$25.000
Liabilities and Capital
Liabilities
Current Borrowing
Long-term Liabilities
Accounts Payable (Outstanding Bills)
Other Current Liabilities (interest-free)
Total Liabilities
$0
$0
$0
$0
$0
Capital
Planned Investment
Owner
Investor
Additional Investment Requirement
Total Planned Investment
$31.400
$0
$0
$31.400
Loss at Start-up (Start-up Expenses)
Total Capital
($6.400)
$25.000
Total Capital and Liabilities
$25.000
Total Funding
$31.400
7.4. Break-even analysis
Break-even Analysis
Monthly Units Break-even
Monthly Revenue Break-even
9
$4.695
Assumptions:
Average Per-Unit Revenue
Average Per-Unit Variable Cost
Estimated Monthly Fixed Cost
$500,00
$220,00
$2.629
7.5. Profit
Pro Forma Profit and Loss
FY 2013
FY 2014
FY 2015
Sales
Direct Cost of Sales
Other Costs of Sales
Total Cost of Sales
$204.000
$89.760
$0
$89.760
$300.000
$120.000
$0
$120.000
$350.000
$140.000
$0
$140.000
Gross Margin
Gross Margin %
$114.240
56,00%
$180.000
60,00%
$210.000
60,00%
Payroll
Marketing/Promotion
Depreciation
Rent
Utilities
Insurance
Payroll Taxes
Other
$17.000
$3.600
$0
$7.200
$1.200
$0
$2.550
$0
$18.000
$2.000
$0
$7.200
$1.200
$0
$2.700
$0
$24.000
$2.000
$0
$7.200
$1.200
$0
$3.600
$0
Total Operating Expenses
$31.550
$31.100
$38.000
Profit Before Interest and Taxes
EBITDA
Interest Expense
Taxes Incurred
$82.690
$82.690
$0
$24.807
$148.900
$148.900
$0
$44.670
$172.000
$172.000
$0
$51.600
Net Profit
Net Profit/Sales
$57.883
28,37%
$104.230
34,74%
$120.400
34,40%
Expenses
Pro Forma Profit and
Loss
tra
svi
lip
srp
kol
ruj
lis
stu
pro
sij
vlj
ožu
Sales
$6.000
$8.000
$10.000
$12.000
$14.000
$16.000
$18.000
$20.000
$22.000
$24.000
$26.000
$28.000
Direct Cost of Sales
$2.640
$3.520
$4.400
$5.280
$6.160
$7.040
$7.920
$8.800
$9.680
$10.560
$11.440
$12.320
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$2.640
$3.520
$4.400
$5.280
$6.160
$7.040
$7.920
$8.800
$9.680
$10.560
$11.440
$12.320
Other Costs of Sales
Total Cost of Sales
Gross Margin
$3.360
$4.480
$5.600
$6.720
$7.840
$8.960
$10.080
$11.200
$12.320
$13.440
$14.560
$15.680
Gross Margin %
56,00%
56,00%
56,00%
56,00%
56,00%
56,00%
56,00%
56,00%
56,00%
56,00%
56,00%
56,00%
$1.000
$1.000
$1.500
$1.500
$1.500
$1.500
$1.500
$1.500
$1.500
$1.500
$1.500
$1.500
$600
$600
$600
$200
$200
$200
$200
$200
$200
$200
$200
$200
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Rent
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
$600
Utilities
$100
$100
$100
$100
$100
$100
$100
$100
$100
$100
$100
$100
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$150
$0
$150
$0
$225
$0
$225
$0
$225
$0
$225
$0
$225
$0
$225
$0
$225
$0
$225
$0
$225
$0
$225
$0
$2.450
$2.450
$3.025
$2.625
$2.625
$2.625
$2.625
$2.625
$2.625
$2.625
$2.625
$2.625
$910
$2.030
$2.575
$4.095
$5.215
$6.335
$7.455
$8.575
$9.695
$10.815
$11.935
$13.055
$910
$2.030
$2.575
$4.095
$5.215
$6.335
$7.455
$8.575
$9.695
$10.815
$11.935
$13.055
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$273
$609
$773
$1.229
$1.565
$1.901
$2.237
$2.573
$2.909
$3.245
$3.581
$3.917
$637
$1.421
$1.803
$2.867
$3.651
$4.435
$5.219
$6.003
$6.787
$7.571
$8.355
$9.139
10,62%
17,76%
18,02%
23,89%
26,08%
27,72%
28,99%
30,01%
30,85%
31,54%
32,13%
32,64%
Expenses
Payroll
Marketing/Promotion
Depreciation
Insurance
Payroll Taxes
Other
Total Operating
Expenses
Profit Before Interest
and Taxes
EBITDA
Interest Expense
Taxes Incurred
Net Profit
Net Profit/Sales
15%
7.6. Cash
Pro Forma Cash Flow
FY 2013
FY 2014
FY 2015
$204.000
$204.000
$300.000
$300.000
$350.000
$350.000
$20.400
$0
$0
$0
$0
$0
$0
$224.400
$30.000
$0
$0
$0
$0
$0
$0
$330.000
$35.000
$0
$0
$0
$0
$0
$0
$385.000
FY 2013
FY 2014
FY 2015
$148.437
$0
$148.437
$203.480
$0
$203.480
$229.963
$0
$229.963
$20.400
$0
$0
$0
$0
$0
$0
$168.837
$30.000
$0
$0
$0
$0
$0
$0
$233.480
$35.000
$0
$0
$0
$0
$0
$0
$264.963
$55.563
$70.563
$96.520
$167.083
$120.037
$287.121
Cash Received
Cash from Operations
Cash Sales
Subtotal Cash from Operations
Additional Cash Received
Sales Tax, VAT, HST/GST Received
New Current Borrowing
New Other Liabilities (interest-free)
New Long-term Liabilities
Sales of Other Current Assets
Sales of Long-term Assets
New Investment Received
Subtotal Cash Received
Expenditures
Expenditures from Operations
Cash Spending
Bill Payments
Subtotal Spent on Operations
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out
Principal Repayment of Current Borrowing
Other Liabilities Principal Repayment
Long-term Liabilities Principal Repayment
Purchase Other Current Assets
Purchase Long-term Assets
Dividends
Subtotal Cash Spent
Net Cash Flow
Cash Balance
Pro Forma Cash
Flow
tra
svi
lip
srp
kol
ruj
lis
stu
pro
sij
vlj
ožu
$6.000
$8.000
$10.000
$12.000
$14.000
$16.000
$18.000
$20.000
$22.000
$24.000
$26.000
$28.000
$6.000
$8.000
$10.000
$12.000
$14.000
$16.000
$18.000
$20.000
$22.000
$24.000
$26.000
$28.000
$600
$800
$1.000
$1.200
$1.400
$1.600
$1.800
$2.000
$2.200
$2.400
$2.600
$2.800
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$6.600
$8.800
$11.000
$13.200
$15.400
$17.600
$19.800
$22.000
$24.200
$26.400
$28.600
$30.800
tra
svi
lip
srp
kol
ruj
lis
stu
pro
sij
vlj
ožu
$2.723
$3.059
$13.798
$13.854
$4.190
$14.526
$14.862
$15.198
$15.534
$15.870
$16.206
$18.622
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$2.723
$3.059
$13.798
$13.854
$4.190
$14.526
$14.862
$15.198
$15.534
$15.870
$16.206
$18.622
$600
$800
$1.000
$1.200
$1.400
$1.600
$1.800
$2.000
$2.200
$2.400
$2.600
$2.800
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Cash Received
Cash from
Operations
Cash Sales
Subtotal Cash from
Operations
Additional Cash
Received
Sales Tax, VAT,
HST/GST Received
New Current
Borrowing
New Other Liabilities
(interest-free)
New Long-term
Liabilities
Sales of Other
Current Assets
Sales of Long-term
Assets
New Investment
Received
Subtotal Cash
Received
Expenditures
Expenditures from
Operations
Cash Spending
Bill Payments
Subtotal Spent on
Operations
Additional Cash
Spent
Sales Tax, VAT,
HST/GST Paid Out
Principal Repayment
of Current Borrowing
Other Liabilities
Principal Repayment
Long-term Liabilities
Principal Repayment
Purchase Other
Current Assets
Purchase Long-term
Assets
Dividends
Subtotal Cash Spent
10,00%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$3.323
$3.859
$14.798
$15.054
$5.590
$16.126
$16.662
$17.198
$17.734
$18.270
$18.806
$21.422
Net Cash Flow
$3.277
$4.941
($3.798)
($1.854)
$9.811
$1.475
$3.139
$4.803
$6.467
$8.131
$9.795
$9.379
Cash Balance
$18.277
$23.218
$19.421
$17.567
$27.378
$28.852
$31.991
$36.793
$43.260
$51.390
$61.185
$70.563
7.7. Balance sheet
Pro Forma Balance Sheet
FY 2013
FY 2014
FY 2015
$70.563
$12.320
$0
$82.883
$167.083
$20.030
$0
$187.113
$287.121
$20.392
$0
$307.513
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets
$0
$0
$0
$82.883
$0
$0
$0
$187.113
$0
$0
$0
$307.513
Liabilities and Capital
FY 2013
FY 2014
FY 2015
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Long-term Liabilities
Total Liabilities
$0
$0
$0
$0
$0
$0
Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
$31.400
($6.400)
$57.883
$82.883
$82.883
$31.400
$51.483
$104.230
$187.113
$187.113
$31.400
$155.713
$120.400
$307.513
$307.513
Net Worth
$82.883
$187.113
$307.513
Assets
Current Assets
Cash
Inventory
Other Current Assets
Total Current Assets
Long-term Assets
Current Liabilities
Pro Forma Balance Sheet
Assets
Current
Assets
Cash
Inventory
Other
Current
Assets
Total
Current
Assets
Long-term
Assets
Long-term
Assets
Accumulated
Depreciation
Total Longterm Assets
Total Assets
tra
svi
lip
srp
kol
ruj
lis
stu
pro
sij
vlj
ožu
$15.000
$10.000
$0
$18.277
$7.360
$0
$23.218
$3.840
$0
$19.421
$9.440
$0
$17.567
$14.160
$0
$27.378
$8.000
$0
$28.852
$10.960
$0
$31.991
$13.040
$0
$36.793
$14.240
$0
$43.260
$14.560
$0
$51.390
$14.000
$0
$61.185
$12.560
$0
$70.563
$12.320
$0
$25.000
$25.637
$27.058
$28.861
$31.727
$35.378
$39.812
$45.031
$51.033
$57.820
$65.390
$73.745
$82.883
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$25.000
$25.637
$27.058
$28.861
$31.727
$35.378
$39.812
$45.031
$51.033
$57.820
$65.390
$73.745
$82.883
tra
svi
lip
srp
kol
ruj
lis
stu
pro
sij
vlj
ožu
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$31.400
$31.400
$31.400
$31.400
$31.400
$31.400
$31.400
$31.400
$31.400
$31.400
$31.400
$31.400
$31.400
($6.400)
($6.400)
($6.400)
($6.400)
($6.400)
($6.400)
($6.400)
($6.400)
($6.400)
($6.400)
($6.400)
($6.400)
($6.400)
$0
$25.000
$25.000
$637
$25.637
$25.637
$2.058
$27.058
$27.058
$3.861
$28.861
$28.861
$6.727
$31.727
$31.727
$10.378
$35.378
$35.378
$14.812
$39.812
$39.812
$20.031
$45.031
$45.031
$26.033
$51.033
$51.033
$32.820
$57.820
$57.820
$40.390
$65.390
$65.390
$48.745
$73.745
$73.745
$57.883
$82.883
$82.883
$25.000
$25.637
$27.058
$28.861
$31.727
$35.378
$39.812
$45.031
$51.033
$57.820
$65.390
$73.745
$82.883
Starting
Balances
Liabilities
and Capital
Current
Liabilities
Accounts
Payable
Current
Borrowing
Other
Current
Liabilities
Subtotal
Current
Liabilities
Long-term
Liabilities
Total
Liabilities
Paid-in
Capital
Retained
Earnings
Earnings
Total Capital
Total
Liabilities
and Capital
Net Worth