BUSINESS PLAN WORKBOOK
DATE:___________________________
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Work Phone:
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Physical Address
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Table of Contents
1.0
OVERVIEW ....................................................................................................... 1
What is a Business Plan? ................................................................................................... 1
About this workbook ........................................................................................................... 1
2.0
DESCRIPTION OF THE BUSINESS................................................................. 2
History of the business ....................................................................................................... 2
Description of the business................................................................................................. 2
3.0
OWNERSHIP & MANAGEMENT ...................................................................... 4
Ownership .......................................................................................................................... 4
Management ...................................................................................................................... 4
4.0
INDUSTRY & MARKET OVERVIEW ................................................................ 7
Industry & Competition ....................................................................................................... 7
Market .............................................................................................................................. 11
5.0
MARKETING PLAN......................................................................................... 12
Product ............................................................................................................................. 12
Place ................................................................................................................................ 12
Promotion ......................................................................................................................... 13
Pricing .............................................................................................................................. 14
6.0
7.0
8.0
OPERATING PLAN ......................................................................................... 15
IMPLEMENTATION PLAN .............................................................................. 18
PROJECT COST & FINANCIAL PROJECTIONS ........................................... 19
Start-up Budget: ............................................................................................................... 19
Break-Even Analysis ........................................................................................................ 20
Sales Projections .............................................................................................................. 21
Cash Flow Projections Worksheet Sample ....................................................................... 22
Cash Flow Projections Worksheet .................................................................................... 23
Income Statement Projections .......................................................................................... 25
9.0
SUPPORTING DOCUMENTS......................................................................... 26
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Building a Better Future for Business
NEDC Business Plan Workbook 2012
1.0 OVERVIEW
What is a Business Plan?
A business plan is a working tool used to assist an entrepreneur when developing a new
product/service idea or when expanding an existing business. Basically, it provides three
functions, as follows:
1. Assists the entrepreneur to organize thoughts, providing a clear sense
of direction and identifying ways to achieve specific goals and
objectives,
2. Is the action plan that describes who, how, when, why and where the
business will develop and expand, and
3. Is the key document that supports a loan application for financing.
Planning is the most important task that needs to be undertaken prior to establishing or
expanding a business. Please note: You will need to have done your market research to
complete this workbook and your business plan.
About this workbook
NEDC has prepared this Business Plan Workbook to serve as a working tool when
formulating an action plan and developing a business plan.
**Some of the questions in this workbook may not be relevant to your project as this
workbook is generic. Please feel free to disregard questions that are not applicable and add
a relevant question and answer. If more space is required, please attach additional pages.
Need help? Please contact a Business Services Officer or Business Development Officer:
P.O. Box 1384, 7563 Pacific Rim Highway
Port Alberni, B.C. V9Y 7M2
(250) 724-3131 or 1-866-444-NEDC (6332)
Fax: (250) 724-9967
nedc@nedc.info
www.nedc.info
www.facebook.com/NEDC1984
NEED GUIDANCE?
CALL NEDC
250.724.3131
Toll Free 1.866.444.6332
Get help when you need it - contact NEDC:
nedc@nedc.info ◦ 250.724.3131 ◦ 1.866.444.6332
You must do your market research
before completing this book!
1
Building a Better Future for Business
NEDC Business Plan Workbook 2012
2.0 DESCRIPTION OF THE BUSINESS
A) Legal Name of Business:
____________________________________________________________
History of the business
____________________________________________________________
____________________________________________________________
When do you plan to start, purchase, or expand your business?
____________________________________________________________
Description of the business
What is the business?
____________________________________________________________
____________________________________________________________
What product(s) or service(s) will your business sell? (attach list if lengthy)
____________________________________________________________
What key factors will you focus on to make your business a success?
____________________________________________________________
____________________________________________________________
If doing contract work, comment on contracts you have secured to date or are working:
____________________________________________________________
Describe working relationships with other businesses relevant to your business
(other businesses that will support you)
____________________________________________________________
____________________________________________________________
____________________________________________________________
What are some of the potential risks and problems associated with your type of
business?
____________________________________________________________
____________________________________________________________
____________________________________________________________
Get help when you need it - contact NEDC:
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You must do your market research
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2
Building a Better Future for Business
NEDC Business Plan Workbook 2012
How do you intend to resolve or minimize these?
____________________________________________________________
____________________________________________________________
____________________________________________________________
What environmental issues are there related to this business (land or building
issues, manufacturing process, waste disposal, etc.) ? How do you intend to
resolve or minimize these?
____________________________________________________________
____________________________________________________________
____________________________________________________________
If purchasing an existing business, explain why the owner is selling it, how long
has it been in operation, how you arrived at a purchase price, what the trend of
sales has been, and if the business is failing how you plan to turn it around. If
the business is not failing how you plan to maintain or improve the level of
success?
____________________________________________________________
____________________________________________________________
____________________________________________________________
Other relevant information that describes your business:
____________________________________________________________
____________________________________________________________
____________________________________________________________
NEED HELP?
CALL NEDC 250.724.3131
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Get help when you need it - contact NEDC:
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You must do your market research
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3
Building a Better Future for Business
NEDC Business Plan Workbook 2012
3.0 OWNERSHIP & MANAGEMENT
Ownership
Business form:
Sole Proprietorship
Partnership
Incorporated
Joint-venture
Other
__________________
* attach documentation: Incorporation documents, partnership /joint venture agreement, etc.*
Youth 35 years & under:
Name of Owner
% of ownership
Date of Birth (D/M/Y)
Management
Who will manage the business and how will the bookkeeping be maintained?
Management:
_________________________________________________________
Bookkeeping:
_________________________________________________________
What are the strengths AND weaknesses of each owner/manager?
Experience in the industry AND this type of business
(in an operational, supervisory, management and ownership position)
Strengths
_________________________________________________________
_________________________________________________________
Weaknesses
_________________________________________________________
_________________________________________________________
Will mitigate weaknesses by:
_________________________________________________________
_________________________________________________________
Get help when you need it - contact NEDC:
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You must do your market research
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Building a Better Future for Business
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Marketing
(pricing, selling, promotions, customer service/management, product development, etc.)
Strengths
_________________________________________________________
_________________________________________________________
Weaknesses
_________________________________________________________
_________________________________________________________
Will mitigate weaknesses by:
_________________________________________________________
_________________________________________________________
Financial experience
(bookkeeping, financial statements, financial management, taxation requirements and laws)
Strengths
_________________________________________________________
_________________________________________________________
Weaknesses
_________________________________________________________
_________________________________________________________
Will mitigate weaknesses by:
_________________________________________________________
_________________________________________________________
Human resource management
(hiring, firing, understanding of employment laws)
Strengths
_________________________________________________________
_________________________________________________________
Weaknesses
_________________________________________________________
_________________________________________________________
Will mitigate weaknesses by:
_________________________________________________________v
Get help when you need it - contact NEDC:
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You must do your market research
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5
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Administration
(decision making, reading/signing legal documents, reporting, etc.)
Strengths
_________________________________________________________
_________________________________________________________
Weaknesses
_________________________________________________________
_________________________________________________________
Will mitigate weaknesses by:
_________________________________________________________
_________________________________________________________
And any other skills that may be relevant
Strengths
_________________________________________________________
_________________________________________________________
Weaknesses
_________________________________________________________
_________________________________________________________
Will mitigate weaknesses by:
_________________________________________________________
_________________________________________________________
NEED HELP?
CALL NEDC 250.724.3131
Toll Free 1.866.444.6332
Get help when you need it - contact NEDC:
nedc@nedc.info ◦ 250.724.3131 ◦ 1.866.444.6332
You must do your market research
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6
Building a Better Future for Business
NEDC Business Plan Workbook 2012
4.0 INDUSTRY & MARKET OVERVIEW
Industry & Competition
What is the North American Industry Classification System (NAICS) code for
your business? _________________________________________________________
Please give a description of your industry?
_________________________________________________________
_________________________________________________________
What trends are currently happening in this industry?
_________________________________________________________
_________________________________________________________
What affects the growth or decline in your industry?
_________________________________________________________
_________________________________________________________
Direct competitors: (companies serving the same customers and providing similar benefits
ie; Seattle’s Best Coffee Co. directly competes with Starbucks Coffee Co.)
Describe the rivalry among existing competitors:
_________________________________________________________
_________________________________________________________
Now rate the rivalry or intensity of the competition:
Cooperative
1
2
3
4
5 Fierce
Indirect competitors: other companies in the product category and other products satisfying
the same needs/problems ie; other beverage co.’s (like Orange Julius, soda, tea, water) are
indirect competition to coffee co.’s because they fulfill a person’s thirst need
Tell us about your indirect competition (substitutes):
_________________________________________________________
_________________________________________________________
Very few
1
2
3
4
5
Lots of cheap
substitutes that
substitutes
cost a lot more
available
Frequency of new business start-ups:
_________________________________________________________
_________________________________________________________
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You must do your market research
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7
Building a Better Future for Business
New business
start-ups are
extremely rare
1
NEDC Business Plan Workbook 2012
2
3
4
5
New businesses
start all the time
What are the barriers to entry in the industry? (Costs incurred to compete or
things that make it challenging to start this kind of business)
_________________________________________________________
_________________________________________________________
What government regulations exist that you must consider in starting or
operating your business? (www.bcbizpal.ca is a great resource for this step)
City/Band:
_________________________________________________________
_________________________________________________________
Is your business (going to be located) on-reserve:
Yes
No
If your business is on-reserve do you have a Band Council Resolution (BCR)
in support of your business?
Yes
No
My location is zoned: _________________________
Zoning by-laws that concern my business:
_______________________________________________________
If your business is on treaty lands, please explain the process of attaining
a business license for your business:
_______________________________________________________
Provincial: Ministry of Small Business and Revenue (PST?), Employment
Standards Branch, Worksafe BC, Ministry of Public Safety and
Solicitor, Liquor Control and Licensing Branch General, etc
_________________________________________________________
_________________________________________________________
Federal: Corporate Registry, Canada Transport, Environment Canada, Ministry
of Health, Health Canada, Canada Coast Guard, Canadian Revenue
Agency (GST/HST, yes taxes), Corporations Canada
_________________________________________________________
_________________________________________________________
Get help when you need it - contact NEDC:
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You must do your market research
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8
Building a Better Future for Business
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What steps have or will you be taking to comply with the laws and regulations
that apply to your industry?
_________________________________________________________
_________________________________________________________
Which industry organization(s) are or will you be a member?
_________________________________________________________
_________________________________________________________
Suppliers
INCL.
YOUR
BIZ
Buyers
Tell us about the supply for your product or service: how many
companies/people are supplying the products/services you are going to sell?
(suppliers) How reliable are they? How easy is it to switch?
_________________________________________________________
_________________________________________________________
How many business/people are buying from these suppliers? (buyers):
_________________________________________________________
Many suppliers,
few buyers
1
2
3
4
5
Few suppliers,
many buyers
INCL.
YOUR
BIZ
Sellers
Customers
Tell us about the buyers for your product or service (customers) compared
with who is serving them (sellers):
_________________________________________________________
_________________________________________________________
Many customers,
1
2
3
4
5
Few customers,
few sellers
many sellers
Get help when you need it - contact NEDC:
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You must do your market research
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Choose your main three competitors and compare them to your business.
Importance
to
Benefit/
Customer
Competitor
Competitor
Attribute/
(rank:
Feature
1=high)
I.E.: 2
Innovation
Waits and adopts tech 2 – 3
yrs later
Has been the same for
years
Competitor
My Business
Has updated some things
but most is outdated
Products
Price
Quality
Selection
Service
Reliability
Advertising
Expertise
Company
Reputation
Location
Appearance
Sales Method
Credit Policies
Materials
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Strives for continuous
improvement
Building a Better Future for Business
NEDC Business Plan Workbook 2012
Describe the advantage you have over your competitors (what makes your
product/service different/better):
_________________________________________________________
_________________________________________________________
How do you plan to obtain a share of the market?
_________________________________________________________
_________________________________________________________
Market
The more you understand your customers, the better your chances of success!
Will you sell mostly to businesses, groups or individual people?
Businesses
Groups
Individuals
Where is your target market (customers you are trying to attract)?
Local: __________________________________________________
Regional: ________________________________________________
National: ________________________________________________
International: ____________________________________________
Describe your typical customer (characteristics): Age group, education level,
income level, sex, net worth, occupation, ethnicity, etc.)
___________________________________________________________
What are their attitudes and tastes (psychographics)? ie; lifestyle, values,
beliefs, hobbies, interests, etc.
___________________________________________________________
How many customers will you have? (contact NEDC is you need assistance)
Analyze your research and figuring out how many people fit your customer
description in your target area
___________________________________________________________
Have you done any research to see if people are interested in purchasing your
product/service? If so, summarize and attach result.
_________________________________________________________
_________________________________________________________
Get help when you need it - contact NEDC:
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You must do your market research
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11
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5.0 MARKETING PLAN
Product
What “need” or “problem” does your product or service fulfill for your
customer? Does it give them more time, ease their hunger/thirst, make
something easier, improve health, ease pain, etc. How will they be better off
after they purchase your product or service?
_________________________________________________________
_________________________________________________________
How do you know this?
_________________________________________________________
_________________________________________________________
What is their process for buying the product/service you are selling?
i.e. they book online after intensive research online and with
friends____________________________________________________
_________________________________________________________
Place
Business Address:________________________________________________________
Describe your location. (Suitability for business, near customers, visible,
staff & customer parking, ease of access, etc. -)
___________________________________________________________
___________________________________________________________
Why did you choose this location?
___________________________________________________________
___________________________________________________________
Will/Do you rent, lease or own the location? __________________________
(please attach rental/lease agreement or proof of ownership)
Will all business activities be conducted at this location? If not, explain the
other locations that will be used for your business.
___________________________________________________________
Get help when you need it - contact NEDC:
nedc@nedc.info ◦ 250.724.3131 ◦ 1.866.444.6332
You must do your market research
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12
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NEDC Business Plan Workbook 2012
Promotion
Discuss any advertising/promotion you have already completed for your
business.
___________________________________________________________
___________________________________________________________
Identify and explain any professional help you need to market your business.
___________________________________________________________
___________________________________________________________
Describe how you will attract and keep your market?
___________________________________________________________
___________________________________________________________
How can you expand your market?
___________________________________________________________
___________________________________________________________
**Your advertising initiatives should directly relate to your target customer and how
they would typically decide to buy your product!
Breakdown your advertising plan and include a rationale of how it relates to
your target market:
Type
Description & Rationale
Cost*
Business Cards
Direct Mail
Flyers
Magazine
Newspaper
Packaging
Radio
Sign
Website
(Internet)
Yellow Pages
Other: list
*Attach documentation that shows the cost of the advertising media you have chosen
What other promotional efforts will you do and why?
___________________________________________________________
Get help when you need it - contact NEDC:
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You must do your market research
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13
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NEDC Business Plan Workbook 2012
Pricing
What price are your competitors charging for their product or service? The
price ranges from: $________ to $______ with the three closest
competitors charging as follows:
Competitor: _________________________ Price: __________
Competitor: _________________________ Price: __________
Competitor: _________________________ Price: __________
Please see worksheet 2.6 “Your Lowest Selling Price” workbook #2 - Getting Started on
page 36 for help in determining the lowest price you can sell your product for without
losing money. There is also an explanation on Mark-up and Profit Margin that you may
find useful.
How did you calculate the price for your product or service?
___________________________________________________________
What is your mark-up? ___________ Profit margin? _____________
How much are your customers willing to pay for your product/service?
___________________________________________________________
How do you know they will pay this much?
___________________________________________________________
Is your price within this range?
___________________________________________________________
NEED HELP?
CALL NEDC 250.724.3131
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You must do your market research
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14
Building a Better Future for Business
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6.0 OPERATING PLAN
Operating Hours & Seasons:
Hours of the day your business will operate: Days and times
__________________________________________________________
Will your business will be seasonal or year round? If seasonal, specify the
period during the year your business will operate.
__________________________________________________________
Production:
Describe how your product or service will be made or delivered – be
descriptive!
__________________________________________________________
__________________________________________________________
Describe any product testing, price testing, or prototype testing that you
have done on your product or service.
__________________________________________________________
__________________________________________________________
When will you be able to start producing your product or service?
__________________________________________________________
How long does it take for you to make one of your products? If you are a
service, how long does it take for you from start to finish?
__________________________________________________________
What problems could occur in the production process or during delivery of
service?
__________________________________________________________
__________________________________________________________
How will you deal with them?
__________________________________________________________
__________________________________________________________
What quality control measures will you have?
__________________________________________________________
_________________________________________________________
Get help when you need it - contact NEDC:
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You must do your market research
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15
Building a Better Future for Business
NEDC Business Plan Workbook 2012
Inventory:
What inventory will you require in this phase of your project?
Item
# required
Price
Total
How will you keep track of inventory? computerized - excel, etc. manual quarterly/annual counts, etc.
_________________________________________________________
Suppliers & Purchasing:
Where are you going to get the materials (or personnel) you need to produce
your product (or service)?
Your Supplier
Since
Products/
Service
Location
Terms
*If you require more room, please complete on a separate sheet and attach.
What alternative arrangements have you made or will make if these suppliers
let you down?
_________________________________________________________
What challenges could occur in ordering your supplies? i.e. bad winter
conditions, etc.
__________________________________________________________
__________________________________________________________
How will you deal with them?
__________________________________________________________
__________________________________________________________
Where will you store your purchases?
__________________________________________________________
Will this be an additional cost?
__________________________________________________________
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You must do your market research
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16
Building a Better Future for Business
NEDC Business Plan Workbook 2012
Equipment:
What equipment will you need, how many do you require, and how much does it
cost?
Item
# required
Price
Total
* Attach a separate sheet, if needed,
*Attach a list of your existing assets (such as land, buildings, inventory, furniture, equipment
and vehicles), their age, and their value.
Staff:
What additional staff, other than the positions outlined in Section 3.0
Ownership and Management, are required?
__________________________________________________________
__________________________________________________________
**Attach an outline for each position describing the duties, skill requirements, training plans,
hours, wages and benefits.
Other:
Describe any special requirements your business has, such as water or power
needs, ventilation, drainage, etc.
__________________________________________________________
__________________________________________________________
NEED HELP?
CALL NEDC 250.724.3131
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Get help when you need it - contact NEDC:
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You must do your market research
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17
Building a Better Future for Business
NEDC Business Plan Workbook 2012
7.0 IMPLEMENTATION PLAN
Outline the necessary steps that will be required to implement your business
plan including start and end dates (or allocated time) and who will be responsible
for ensuring completion:
Task/Objective
Ie; Purchase Equipment
Get biz name & license
Person Responsible
Owner A
Owner A
Start date
Jan. 1, 08
Jan. 1, 08
End date
Jan 17, 08
Feb. 1, 08
Who will be responsible for ensuring that these tasks/objectives are completed
as outlined above? i.e. supervisor's or managers name
____________________________________________________________
____________________________________________________________
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You must do your market research
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18
Building a Better Future for Business
NEDC Business Plan Workbook 2012
8.0 PROJECT COST & FINANCIAL
PROJECTIONS
Start-up Budget:
Use of Funds - Total Project Cost (Funds Required for):
To determine the project costs of your business, total the prices of everything you require
for your project from your quotes and pricelists.
CAPITAL
Land
Building
Equipment
Inventory/Materials
Furnishings
Other:
OPERATING/MARKETING
$
$
$
$
$
$
Insurance
Legal, Accounting & other fees
Office supplies
Advertising
Utilities
Other:
$
$
$
$
$
$
TOTAL PROJECT COSTS (Capital + Operating/Marketing):
$0
Sources of Funds
Equity:
Available CASH you will contribute towards this project:
$
What other assets you will be contributing to your business?
Estimated value
i.e. vehicle, equipment, supplies, etc. (attach list if you have lots)
$ _____________
If these are not fully paid for, how much is owing on these items?
$ _____________
Loans & Contributions:
Amount you are requesting from NEDC? (from all programs)
$
Funding I will be seeking other than NEDC?
i.e. bank/credit union, TACC, grant, band, CFDC, BDC, etc.
Estimated amount
$
** you should have enough money from Cash, Loans and Contributions to cover all project costs!
Get help when you need it - contact NEDC:
nedc@nedc.info ◦ 250.724.3131 ◦ 1.866.444.6332
You must do your market research
before completing this book!
19
Building a Better Future for Business
NEDC Business Plan Workbook 2012
Break-Even Analysis
The break-even point is when sales equal expenses, resulting in no profit
or loss for that financial period.
Variable Costs: Costs that are happen only if sales are made; expenses
that vary directly with sales (i.e. materials, commisions, shipping, etc.)
Fixed Costs: Costs that happen whether or not any sales are made; expenses that do NOT
change with sales (i.e. salaries, rent, insurance, utilities, etc.)
1. We will use the following information to demonstrate break-even sales:
Sample
Your Business Costs:
a) Fixed Costs (per year)
b) Selling Price
c) Variable Costs per item
$50,000/yr
$4.00
$3.00
$
$
$
2. Next, calculate your Variable Cost Percentage by dividing your Variable Costs per item
(c) by your Selling Price (b). In this case our “Variable Cost percentage” is:
Sample
Your Variable Cost Percentage
c) Variable Cost
b) Selling Price
=
$3.00
$4.00
= $0.75 OR 75%
$____
=
$____
$____ or _____
What does this mean? Well, for every $1.00 of sales, 75 cents goes to variable costs. What we
have left over is used to cover fixed costs, which we call the Contribution Margin (CM).
Sample
d) Contribution
= 100% -75% =
Margin (CM)
Your Contribution Margin
25%
100% - ____
= _____%
3. So now we have to answer the question, “how many 25-cents do we need to cover
$50,000 of fixed costs?” The answer is as follows:
Sample
a) Fixed Costs
d)
CM
=
$50,000
.25
Your Break-even Sales $
= $200,000
$_______
$0.____
=
$________
In the example we used, this means that you need sales of at least $200,000 to break-even, or you
need to sell $200,000 of your product to cover all of your costs.
4. So now we know we need to sell $200,000 worth of this product/service to break even.
How many items do we need to sell to get that many sales?
Sample
a) Break-even Sales
b)
Price
=
$200,000
$4
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= 50,000
# of Items needed to be sold
to break even:
$______
= __________
$______
You must do your market research
before completing this book!
20
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NEDC Business Plan Workbook 2012
Sales Projections
Monthly & Annual Sales
What are your anticipated annual sales per year allowing for seasonal
fluctuations? (attach worksheet if more than one product or service.)
Month
January
February
March
April
May
June
July
August
September
October
November
December
Total Annual Sales
# of items sold
0
0
0
0
0
0
0
0
0
0
0
0
0
Monthly sales $
0
0
0
0
0
0
0
0
0
0
0
0
$0
List any assumptions you made to create your projections (attach paper if
needed:
____________________________________________________________
_________________________________________________________
When and how will money from the sales be collected? Before they walk out of
your store/office? On signing of contract? Within one month of sale? Down
payment with payment schedule (give schedule), etc.
____________________________________________________________
__________________________________________________________
Is there anything you will be buying on a charge account regularly? (If so, please
explain.) i.e. inventory willl be charged on a supplier account, office supplies will
be charged on my credit card, etc.
___________________________________________________________
What will your practice be on paying bills? (i.e. will pay on receipt, on due date,
etc)
___________________________________________________________
Will this be your only source of income: ______________________________
Get help when you need it - contact NEDC:
nedc@nedc.info ◦ 250.724.3131 ◦ 1.866.444.6332
You must do your market research
before completing this book!
21
Cash Flow Projections Worksheet Sample
Name of Month
CASH IN:
Sales
Other Income (NEDC Loan)
TOTAL CASH IN
(A)
CASH OUT:
Advertising
Accounting
Legal Fees
Bank Charges
Equipment
Vehicle – fuel
Vehicle – Maintenance
Insurance
License
Rent
Lease - Office Equipment
Office Supplies
Repairs & Maintenance
Telephone/Utilities
Wages – Owner
Wages – Other
Travel
Training & Development
Miscellaneous
TOTAL CASH OUT:
NET CASH
(B)
(C=(A-B) )
Term Debt: ( loan payments)
Loan 1 (NEDC)
Loan 2
TOTAL TERM DEBT
(D)
Inc./Dec. in Cash (E=(C-D) )
Cash - Beginning of Month (F)
Cash - End of Month (G=(E+F) )
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
$
$
$
$
$
$
$
$
$
$
$
$
8,000
6,000
4,000
2,000
2,000
2,000
3,000
8,000
6,000
4,000
2,000
2,000
2,000
$67,000
$40,000
3,000 $107,000
500
$500
100
$100
0
$0
20
$20
0 $1,000
1,200 $1,200
300
$300
0
$250
0
$0
200
$200
50
$50
150
$150
300
$300
400
$300
2,500 $2,500
1,000
$500
200
$0
0
$0
100
$100
7,020
7,470
SAMPLE
300
200
100
100
0
0
20
20
0
0
1,000
800
150
150
0
0
0
0
200
200
50
50
100
50
300
200
300
300
1,500
1,500
300
0
0
0
0
0
100
100
4,420
3,670
200
100
0
20
0
400
150
0
0
200
50
50
200
300
1,500
0
0
0
50
3,220
200
100
0
20
0
400
150
0
0
200
50
50
200
300
1,500
0
0
0
50
3,220
100
100
0
20
0
400
150
0
0
200
50
50
200
300
1,500
0
0
0
50
3,120
100
100
0
20
0
400
150
0
0
200
50
50
200
300
1,500
0
0
0
50
3,120
200
300
0
20
0
400
150
0
0
200
50
50
200
300
1,500
0
0
0
50
3,420
$4,300
$1,900
$1,500
$240
$31,000
$8,800
$2,250
$1,450
$100
$2,400
$600
$1,500
$5,500
$3,800
$20,000
$2,300
$600
$500
$950
$89,690
4,180 1,830 2,980
2,980
2,530
3,580
780
-1,220
-1,120 -1,120
-420
$17,310
890
890
890
150
150
150
1,040 1,040 1,040
3,140
790 1,940
0 3,140 3,930
3,140 3,930 5,870
890
150
1,040
1,940
5,870
7,810
890
890
890
890
890
890
890
890
150
150
150
150
150
150
150
150
1,040
1,040
1,040
1,040
1,040
1,040 1,040 1,040
1,490
2,540
1,290
-260 -2,260 -2,160 -2,160 -1,460
7,810
9,300 11,840 13,130 12,870 10,610 8,450 6,290
9,300 11,840 13,130 12,870 10,610
8,450 6,290 4,830
$10,680
$1,800
$12,480
$4,830
$4,830
6,000 6,000 8,000 10,000 10,000
40,000
46,000 6,000 8,000 10,000 10,000
1,000
500
500
500
200
100
1,500
0
0
20
20
20
30,000
0
0
800
800 1,000
150
150
300
1,200
0
0
100
0
0
200
200
200
50
50
50
500
150
150
3,000
200
200
300
300
400
1,500 1,500 1,500
0
0
500
400
0
0
500
0
0
100
100
100
41,820 4,170 5,020
2,330
TOTAL
22
Cash Flow Projections Worksheet
Name of Month
CASH IN:
Sales
Other: (Loan, equity, etc)
TOTAL CASH IN (A)
Jan
$
Feb
$
Rounded to nearest dollar
Mar
$
Apr
$
May
$
Jun
$
Jul
$
Aug
$
Sep
$
Oct
$
Nov
$
Dec
$
Total
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
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
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
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
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 OUT:
Advertising
Accounting
Bank Charges
Equipment
Vehicle
Insurance
Legal Fees
License & other fees
Rent/Lease
Office Supplies
Miscellaneous
Repairs & Maintenance
Telephone/Utilities
Wages
Travel
Training & Development
TOTAL CASH OUT: (B)
NET CASH (C=(A-B))
Loan payments
NEDC Loan
(source) Loan
TOTAL TERM DEBT (D)
Inc./Dec. Cash (E=(C-D))
Cash – Beg.of Month (F)
Cash - End of Month
(G=(E+F))
23
Do any months have negative NET CASH (C)?
Yes
No
If yes, which months?
___________________________________________________________
How will you pay your bills in that month? save money from previous months?
use line of credit? etc.
________________________________________________________
Do any months end (G) with negative cash?
Yes
No
If yes, which months?
________________________________________________________
How will you pay your bills in that month? inject more cash from personal
sources, etc.
________________________________________________________
________________________________________________________
NEED HELP?
CALL NEDC 250.724.3131
Toll Free 1.866.444.6332
Get help when you need it - contact NEDC:
nedc@nedc.info ◦ 250.724.3131 ◦ 1.866.444.6332
If you have not done your research yet,
go back to Getting Started workbook!
24
Income Statement Projections
Complete the following income statement or provide NEDC with prepared financial
statements. The table is a guideline and may not be completely compatible with your
business. Feel free to change/add/delete to suit your business. Annual expenses can be
calculated at estimated monthly cost X 12.
Year1/2013
Year2/2014
Year3/2015
Revenue (not including sales tax)
Product & Services Sales
Other Revenue:
Miscellaneous:
Total Revenue (A)
0
0
0
0
0
0
0
0
0
0
0
0
Costs (variable or direct costs)
Labour - i.e. commissions, assembly, etc.
Materials - included in items sold
Freight/Transport Costs for items sold
Sold Inventory
Subtotal Costs (B)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Gross Profit (C) = A-B (Revenue – Costs)
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
Expenses (Fixed or indirect costs)
Accounting & legal
Bank Charges
Advertising
Loan interest
Office and general
Depreciation / Amortization
Licenses and fees
Repairs & Maintenance
Insurance
Management Wages
Rent
Telephone
Utilities
Wages and benefits
Subtotal Expenses (D)
Net Income before taxes:
Gross Profit (C) – Expenses (D)
Your businesses income tax rate: This would be your personal tax rate if you are a
sole/proprietorship or partnership. A corporation would have it's own tax rate.
**For an existing business, please provide financial statements for the last 3 years.
Get help when you need it - contact NEDC:
nedc@nedc.info ◦ 250.724.3131 ◦ 1.866.444.6332
If you have not done your research yet,
go back to Getting Started workbook!
25
9.0 SUPPORTING DOCUMENTS
Attach the following documents (if applicable):
Market Research documents & sources outlined
Relevant Photos or maps
Rental or Lease Agreement of Location
Permission from Landlord to operate home-based business
Letters of Support
Contracts secured
Resumes for Owners and Key Personnel
Shareholders Agreement or Partnership Agreement
Certificate of Incorporation
Historical Financial Statements (3 years) – if existing business
List of Equipment to be purchased with price and totals
Estimates or Quotations for purchase of Equipment
Applicable Purchase Agreements
Insurance Quote
Asset List
Evaluation of Used Assets Contributed
Band Council Resolution (if on-reserve business)
Marine Survey (if purchasing a boat)
Thank you for taking the time to fill out this workbook!
Now contact NEDC:
7563 Pacific Rim Highway
Port Alberni, B.C. V9Y 8Y5
(250) 724-3131 or 1-866-444-NEDC (6332)
Fax: (250) 724-9967
Get help when you need it - contact NEDC:
nedc@nedc.info ◦ 250.724.3131 ◦ 1.866.444.6332
nedc@nedc.info
www.nedc.info
www.facebook.com/NEDC1984
If you have not done your research yet,
go back to Getting Started workbook!
26