Executive Summary

Like New Carpet Cleaning, located in Bhadohi, will sell carpet and upholstery cleaning
services to Indian County, CT home and condominium owners, building its brand around
the fact that it will make carpets look "like new." To that end, the business will raise
$57,500 from outside investors to purchase its delivery van, carpet-cleaning equipment,
and develop a unique, service-oriented website which will keep administrative costs low
and drive sales through its simple and easy accessibility for the consumer.
The initial customer base will be home owners with a high percentage of their floors
carpeted, within a 5-mile radius of Bhadohi, CT, and soon within all of Indian County.
Sales are projected to grow at 25% per year as the business expands into new markets.
Profitability will be the goal only after the business grows to a significant scale and
becomes a major player in the local market. At that point, the business will enjoy
significantly lower expenses as well as an infrastructure which positions it well for future
expansion.

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Objectives
Like New Carpet Cleaners seeks to establish a substantial foothold in the local carpetcleaning business in Indian County, CT, and position itself for expansion either through
company-run offices or franchising. The following goals represent these objectives:

Within one year of launch, to receive a 95% or four-star rating on

customer review services such as www.yelp.com and the Better
Business Bureau.

Within three years of launch, to serve 10% of homes with carpets

in Indian County.

Within five years of launch, to serve 25% of homes with carpets

in Indian County.

Mission
Like New Carpet Cleaners will bring simplicity and automation to carpet cleaning service
for homes, helping home owners maintain beautiful carpets and a beautiful home and
saving them from the cost of replacing carpets.

Keys to Success
1.

Use online technology to make the process of ordering,

scheduling, and paying for carpet cleaning simpler for customers.

2.

Provide a good customer experience, with a well-trained cleaning

crew, and quality assurance with a 30-day money back guarantee.

3.

Use environmentally friendly cleaning products and stay up to

date on new breakthroughs in safe and earth-friendly products and
processes.

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Company Summary

Like New Carpet Cleaners will be a local carpet-cleaning service doing business in
Indian County, Connecticut. Established in June 2016 as an LLC, Like New Carpet
Cleaners was founded by Saddam husain and Aftab husain, who operate the business out
of their home office in Bhadohi, CT.

Company Ownership
Saddam husain and Aftab husain founded Like New Carpet Cleaners as an LLC in June
2016. Each own 50% of the company.

Start-up Summary
The startup expenses for the business are primarily in three strategic areas:
1.

Website: A website will be developed and tested, with

functionality to allow online ordering, scheduling, rescheduling, and
customer support. ($30,000 estimate)

2.

Delivery Van: A delivery van must be purchased to transport

cleaning staff and equipment to customer homes. One van will be
used to transport multiple cleaning crews during initial operations.
($15,000 estimate)

3.

Cleaning Equipment: 3 portable extractors and additional

specialized equipment for cleanings. ($15,000 estimate)

The business will be based out of a home office, which will limit initial rent and overhead
costs.

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START-UP REQUIREMENTS

Start-up Expenses

Legal

$1,500

Stationery etc.

$1,000

Insurance

$2,000

Rent

$1,000

Website

$30,000

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Other

$2,000

TOTAL START-UP EXPENSES

$37,500

Start-up Assets

Cash Required

$30,000

Other Current Assets

$0

Long-term Assets

$30,000

TOTAL ASSETS

$60,000

Total Requirements

$97,500

Services
Like New Carpet Cleaners services and products will include:

Regular Carpet Cleaning

Spot Treatment for Carpets

Furniture Cleaning

Leather Furniture Cleaning

Area Rugs

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Gift Certificates

The company will focus on cleaning carpets, rugs, and upholstered items and will seek to
build and maintain its expertise in this area; its services will not include hardwood floors
or other home-cleaning services.
Through its website, the company will offer the service of easy scheduling and the set-up
of automated recurring appointments for its regular customers.

Market Analysis Summary

The Indian carpet and upholstery cleaning service sector was estimated at $5.3 billion in
20015 by Market data Enterprises. The market is broken into residential and commercial
services. While only moderate growth is estimated for the next five years, the national
market is highly competitive.
The initial market for Like New Carpet Cleaners is residential services in Indian County,
CT, beginning with a five-mile radius of Bhadohi, CT. The population of Indian County
is approximately 895,000 with 225,000 owner-occupied condos and homes. It is
estimated that 40,000 of these owner-occupied homes and condos are within that fivemile radius. These 40,000 owners spend an estimated $4 million per year on carpet,
upholstery, and other floor-cleaning services. For that reason, we have chosen this as our
initial market.

Market Segmentation
Customers for this industry are broken into the following targets:

Residences (including individuals, families, and landlords)

Businesses (including small businesses, larger businesses,

insurance companies, and commercial landlords)

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Residences require a higher level of customer support, pay higher rates on average, and
often include additional opportunities to sell related services to home owners.
Businesses require less customer support and service, pay lower rates on average, and
generally seek ongoing services which can repeat the same tasks without much room for
upselling.

MARKET ANALYSIS

YEAR 1

Potential Customers

YEAR 2

YEAR 3

YEAR 4

YEAR 5

Growth

CAGR

Large Homes

25%

10,000

12,500

15,625

19,531

24,414

25.00%

Medium Homes

25%

20,000

25,000

31,250

39,063

48,829

25.00%

SADDAM HUSAIN

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Condos and Small

Homes

Total

25%

10,000

12,500

15,625

19,531

24,414

25.00%

25.00%

40,000

50,000

62,500

78,125

97,657

25.00%

Target Market Segment Strategy

Like New Carpet Cleaners will focus on residential cleaning services, rather than
businesses, because it believes this market is more likely to accept technological
advances and Internet customer service. Like New has divided the market into these
segments:

Large homes (over 5,000 square feet) - Generally have many

rooms needing regular service as well as the need for upholstery
and spot treatments. Service may require a full day of cleaning.

Medium homes (2000 to 5000 square feet) - Generally have a

couple of rooms needing regular service and may require service as
often or more often than large homes as each room is given more
wear and tear by families. Service may require half a day (four
hours) of cleaning.

Small homes and condos (under 2000 square feet) - Generally

have at least one carpeted room requiring regular service. Service
may often be completed in two hours or less.

Service Business Analysis

The carpet-cleaning business is characterized by multiple local businesses serving a town
or a few towns, and some national franchises. Each town can have from ten to twenty
businesses.

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Cleaning services are generally managed out of a central office. Delivery vans are used to
transport equipment and cleaning crews from the central office to customer homes.
Services are generally ordered by phone. For large homes, on-site consultations are given
to develop a more accurate quote for cleaning service, rather than quoting a price site
unseen. Some online ordering is done, but most small businesses rely on phone
conversations to gather the information needed to quote a price to customers.

Competition and Buying Patterns

Market data Enterprises reports that the carpet and upholstery industry for the India is
comprised of 40,000 mostly small companies and that the industry is relatively mature.
Although some large franchised organizations exist, the top ten franchises make up only
22% of the market. These top competitors include Sears, Stanley Steemer, Chem-Dry,
ServiceMaster Clean, ServPro, Duraclean, Heavens Best, Rainbow Intl., MilliCare
Commercial Carpet Care, and Professional Carpet Systems.
Customers choose between these competitors based on brand name, positive references
from trusted sources (friends, family and colleagues, and customer-review websites, such
as www.yelp.com), and price. Most cleaning services do not compete specifically on
price, although franchises sometimes use this lever. While brand name is important for
some customers, many realize that small businesses use the same equipment and hire the
same basic labor as the known brands and, therefore, that positive word-of-mouth is more
important.
Web Plan Summary

The website for Like New Carpet Cleaners will convert Web users to ordering cleaning
services because of the simplicity of the process, customization of services, and the
ability of the online system to red flag inquiries which require additional attention.
For new customers, the site will include:

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Graphics and tutorials to go through the booking and scheduling

process

Client testimonials

Explanations of how pricing is determined

A list of services

"Frequently-asked questions" page to answer common questions

and to explain how the service works, what the time frame is to
complete the work, etc.

"About us" page - details on the founders and mission of the

company

For current customers, the website will also be an account management tool, allowing
them to:

Schedule and reschedule cleanings

Set up automated, recurring appointments

The website will have the functionality to provide quotes to most customers, based on
their entries about the services needed, size of their space, furniture, carpets, etc. For
certain specifications (determined by the founders) the system will be unable to provide a
quote and will refer the inquiry to the sales department for further investigation. Clients
will pay by credit card (using a security protocol connection for sending credit card
information over the Internet) and can have their credit card saved on file for easier
booking in the future.

Website Marketing Strategy

The website will be marketed through search engine marketing and search engine
optimization. Search engine marketing will require bidding on keywords relevant to
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carpet cleaning for the local market, with Google Adwords. Like New Carpet Cleaners
will retain the services of a search engine marketing firm to set up and optimize its
Google Adwords account.
Search engine optimization will be based on the initial design of the website to make it
search-engine friendly, and on building links over time from other related websites to
increase its Google ranking. Content will also be added to the website, including
informative articles about carpet cleaning, written by the company founders and other
experts, in order to increase the website's standing on the Internet as a resource for
information on carpet cleaning.

Development Requirements
The front end of the website will require the pages previously discussed in the summary
as well as the standard contact page and legal disclaimers.
The back end of the website will require:

Ability for managers to adjust pricing and service options.

Automatic integration of scheduling and orders from the website

to accounting and calendar systems, with alerts sent by email to
relevant staff.

The website will be built over two months. A quote of $30,000 has been given for the
needed functionality and has been verified by advisors with web development expertise
as an appropriate rate. The two-month period will allow three weeks for testing and
debugging at the end of the period.
The website will require ongoing maintenance which is shown on the profit and loss
statement as an operating expense. Either the same firm that created the site will be
retained for ongoing maintenance and updates, or a new firm will be selected.
Strategy and Implementation Summary
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The strategy of Like New Carpet Cleaning is to expand rapidly within Indian County, CT,
targeting residential customers only, with an eye towards proving its model as scalable on
a statewide level. To that end, it will seek funding for its initial five years of growth and
then an additional round of funding to support that growth after five years. The strategy
includes the following priorities:

Ensure high-quality, moderately-priced service using a web-based

model of sales and customer support.

Keep overhead low by operating out of one office and keeping

full-time staff at a minimum.

Build its brand around the fact that carpets will look "like new"
after cleanings, saving customers worry and expense.

Competitive Edge
The website of Like New Carpet Cleaning will offer complete sales, service, and
scheduling applications online. This allows the business to reduce its operating costs,
establish a business that can scale up quickly, and still provide a good customer
experience. This online scheduling approach lets customers sign up for carpet cleaning
services any time, day or night. This is a convenience that will be appreciated by the
customer. It is an asset which it will be difficult for competitors to imitate because of the
high cost of implementation.

Marketing Strategy
The marketing strategy is to promote and build a base of residential customers within a
five-mile radius of Bhadohi, CT.
This will include:

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A direct mail campaign targeting homeowners with large homes

(more than 5,000 sq. ft). This group spends a higher amount on
carpet cleaning per home than the other target markets, and they
are more likely to create positive word-of-mouth about the service.

Poster advertising built around the simplicity with which the

company can make customer carpets look "like new." Locations will
include bus stops, public parks, the sides of buses and taxi cabs,
and movie theater advertising.

The marketing campaign will then move to web advertising via search engine marketing
(Google Adwords) and search engine optimization to capitalize on converting those
searching for carpet cleaning services locally into sales.

Sales Strategy
Like New Carpet Cleaners will automate its sales on its website. In the first year a target
of 75% of sales will be conducted entirely on its website with minimal need for
interaction with a salesperson. By its fifth year of operation, 90% of sales will be
conducted entirely on its website. This includes the customer entry of details on their
needs, the quoting of prices, client acceptance of the price and entry of a credit card, and
scheduling of the services. The back-end of the website will store customer data and
allow the owners to change pricing and services offered.
The owners, Aftab Husain and Saddam husain , will answer client queries which cannot
be handled by the website service, based on specific emails that come in or website
inquiries which are flagged as requiring personal attention. They will serve these clients
with home estimates when necessary, using this experience to develop a stronger webbased model going forward. No commissioned salespeople will be hired, as the intention
is to create a web-based model.

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Sales Forecast
The primary revenue streams for Like New Carpet Cleaners will be carpet cleaning and
intensive spot treatments. As the company will brand itself as the leader in making
carpets look "like new," these will be the drivers of growth. Additional services will be
sold primarily to customers who seek out Like New for its carpet treatments.
Average services are defined as the following, for the purpose of the sales forecast:

Average carpet cleaning is two rooms (a small, semi-carpeted

apartment)

Average furniture cleaning is one large couch

Average intensive spot treatment is one carpet

Average area rug cleaning is one area rug

Cost of sales is expected to be 35% for the labor of cleaning staff. The remaining 4-10%,
depending on the service, is for cleaning supplies and gasoline applied to the job to
transport crew and equipment.
Over the first year, rapid growth is anticipated month over month as customer reviews
come in and the simplicity and assurance of the web model is tested by the customer. A
25% annual growth is estimated as the business expands to cover all of Indian County,
with additional bases of operation throughout the county. Growth will be primarily
through the company's geographic expansion and secondarily through deeper penetration
in each town as word-of-mouth grows.
The main impediment to this rapid growth would be the reluctance of customers to switch
from their current carpet cleaning services. This risk will be mitigated by offering
incentives to customers who switch and no-commitment trial prices. Competitors are
unlikely to offer the same web-based model as their entire infrastructures are built around
the use of salespeople, customer service reps, and in-person sales appointments.
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SALES FORECAST

YEAR 1

YEAR 2

YEAR 3

YEAR 4

Carpet Cleaning

3,054

3817

4772

5965

Furniture Cleaning

2,310

2888

3609

4512

Intensive Spot Treatment

3,054

3817

4772

5964

Area Rugs

1,486

1857

2322

2902

Other Services

1,486

1857

2322

2902

SADDAM HUSAIN

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Unit Sales

YE

TOTAL UNIT SALES

11,390

14,237

17,796

22,245

27

Year 1

Year 2

Year 3

Year 4

$100.00

$100.00

$100.00

$100.00

$10

Furniture Cleaning

$25.00

$25.00

$25.00

$25.00

$2

Intensive Spot Treatment

$50.00

$50.00

$50.00

$50.00

$5

Area Rugs

$25.00

$25.00

$25.00

$25.00

$2

Other Services

$25.00

$25.00

$25.00

$25.00

$2

$305,395

$381,744

$477,180

$596,475

$745

$57,750

$72,188

$90,234

$112,793

$140

$152,691

$190,864

$238,580

$298,225

$372

Area Rugs

$37,147

$46,434

$58,042

$72,553

$90

Other Services

$37,147

$46,434

$58,042

$72,553

$90

Unit Prices

Carpet Cleaning

Sales

Carpet Cleaning

Furniture Cleaning

Intensive Spot Treatment

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TOTAL SALES

$590,130

$737,663

$922,078

$1,152,598

$1,440

Direct Unit Costs

Year 1

Year 2

Year 3

Year 4

Carpet Cleaning

$30.00

$30.00

$30.00

$30.00

$3

$7.50

$7.50

$7.50

$7.50

$22.50

$22.50

$22.50

$22.50

$2

$9.75

$9.75

$9.75

$9.75

$11.25

$11.25

$11.25

$11.25

$1

Carpet Cleaning

$91,619

$114,523

$143,154

$178,942

$223

Furniture Cleaning

$17,325

$21,656

$27,070

$33,838

$42

Intensive Spot Treatment

$68,711

$85,889

$107,361

$134,201

$167

Area Rugs

$14,487

$18,109

$22,636

$28,296

$35

Other Services

$16,716

$20,895

$26,119

$32,649

$40

Furniture Cleaning

Intensive Spot Treatment

Area Rugs

Other Services

Direct Cost of Sales

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Subtotal Direct Cost of Sales

$208,858

$261,072

$326,341

$407,926

Milestones
The marketing program depends on timely completion of the key marketing tasks. Before
any public marketing can
begin, the website service must be well tested. This will happen over a two-month period.
Upon completion of this work, direct mail and poster/movie screen advertising will begin
concurrently with the goal of making thousands of local residents aware of the new
business and its value proposition. Web advertising will follow with the goal of
converting those locals searching for carpet cleaning to sales.

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$509

MILESTONES

Milestone

Website Build

Direct Mail Campaign

Public Advertising

Search Engine
Advertising

Start Date

End Date

Budget

Manager

Depart

8/1/2016

10/3/2016

$30,000

RS

Opera

10/3/2016

12/31/2016

$10,000

FS

Mark

11/23/2016

12/31/2016

$20,000

FS

Mark

11/3/2016

12/31/2016

$10,000

FS

Mark

Totals

SADDAM HUSAIN

$70,000

Page 19

Management Summary

The business will be managed the owners, Saddam husain and Aftab husain.
Aftab husain , CEO, will be head of sales and marketing. He will make client
appointments, when needed, and will orchestrate all marketing activities.
Saddam husain, COO, will be head of operations and finances. She will manage all
financial aspects of the business, including bookkeeping, accounting, and financing. She
will project manage the development of the Web service (working with temporary
programming help to program the service). he will do sales work as necessary, under the
direction of Aftab husain . he will be responsible for the establishment of operations
systems, including the hiring of cleaning crews, the purchase of equipment, and quality
assurance.
In the fourth year of operation, experienced business managers will be hired to take over
the positions of CEO and COO with the goal of preparing the company for franchising.
At this point, Saddam husain and Aftab husain will move to entirely strategic roles.

Personnel Plan
PERSONNEL PLAN

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YE

CEO

$60,000

$60,000

$60,000

$70,000

$75

COO

$60,000

$60,000

$60,000

$70,000

$75

SADDAM HUSAIN

Page 20

Administrative Assistant/ Manager

$18,000

$40,000

$50,000

$55,000

$60

$0

$0

$40,000

$42,000

$45

$138,000

$160,000

$210,000

$237,000

Administrative Assistant 2

TOTAL PEOPLE

Total Payroll

A full-time administrative assistant will be hired after six months of operation to take
over bookkeeping, accounts payable, and support of sales and marketing activities. This
will allow Saddam husain and Aftab husain to concentrate their time on strategic
endeavors, including opportunities for expansion, with new bases of operation beyond
their initial target area. This individual will transition into the role of administrative
manager, or be replaced by an individual who can handle management. After two years of
operation, an additional administrative assistant will be hired.

Financial Plan

Like New Carpet Cleaning will add at least one new local base each year, consisting of
parking for the company van and storage for cleaning equipment and supplies. This
future growth will be financed by cash generated from existing locations and debt to
finance vehicle and cleaning equipment purchases.

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$255

Start-up Funding
Start-up funding will be provided by a combination of owner investment and investor
funding, with a small amount of debt. The owners will contribute $20,000 of initial
funding to develop a prototype of the website. Investors will contribute $57,500 for a
30% share of the company.

START-UP FUNDING

Start-up Expenses to Fund

$37,500

Start-up Assets to Fund

$60,000

TOTAL FUNDING REQUIRED

$97,500

Assets

Non-cash Assets from Start-up

$30,000

Cash Requirements from Start-up

$30,000

Additional Cash Raised

$0

Cash Balance on Starting Date

$30,000

TOTAL ASSETS

SADDAM HUSAIN

$60,000

Page 22

Liabilities and Capital

Liabilities

Current Borrowing

$0

Long-term Liabilities

$15,000

Accounts Payable (Outstanding Bills)

$5,000

Other Current Liabilities (interest-free)

$0

TOTAL LIABILITIES

$20,000

Capital

Planned Investment

Owners

$20,000

Investor

$57,500

Additional Investment Requirement

$0

TOTAL PLANNED INVESTMENT

$77,500

Loss at Start-up (Start-up Expenses)

SADDAM HUSAIN

($37,500)

Page 23

TOTAL CAPITAL

$40,000

TOTAL CAPITAL AND LIABILITIES

$60,000

Total Funding

$97,500

Break-even Analysis
The business will benefit from a low monthly break-even point due to the assignment of
most costs directly to the cleaning service (gasoline, cleaning crew labor, and cleaning
products) and the low payroll that is achieved by leveraging Like New's website, which
will reduce administrative costs.

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BREAK-EVEN ANALYSIS

Monthly Units Break-even

705

Monthly Revenue Break-even

$36,506

Assumptions:

Average Per-Unit Revenue

$51.81

Average Per-Unit Variable Cost

$18.34

Estimated Monthly Fixed Cost

SADDAM HUSAIN

$23,586

Page 25

Projected Profit and Loss

The business will experience modest profits for its first three years of operation. This is
due to the fact that the operations of the organization will be built to scale up over a larger
geographic region. In the fourth and fifth years of operation, this will begin to pay off
with healthy profits.This will prove the viability of the business model for a franchise or
statewide expansion.
Direct labor is estimated at 35% of sales revenue (the actual cleaning representing about a
280% markup of the labor). Direct labor is included in the cost of sales.

SADDAM HUSAIN

Page 26

SADDAM HUSAIN

Page 27

PRO FORMA PROFIT AND LOSS

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

Sales

$590,130

$737,663

$922,078

$1,152,598

$1,440,747

Direct Cost of Sales

$208,858

$261,072

$326,341

$407,926

$509,907

$0

$0

$0

$0

$0

$208,858

$261,072

$326,341

$407,926

$509,907

$381,272

$476,590

$595,738

$744,672

$930,840

Other Costs of Sales

TOTAL COST OF SALES

Gross Margin

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Page 28

Gross Margin %

64.61%

64.61%

64.61%

64.61%

64.61%

$138,000

$160,000

$210,000

$237,000

$255,000

$60,000

$70,000

$80,000

$90,000

$100,000

$6,000

$10,000

$12,000

$18,000

$30,000

$10,200

$30,000

$40,000

$50,000

$60,000

Utilities

$1,200

$2,000

$2,500

$3,000

$3,500

Insurance

$3,600

$4,000

$5,000

$6,500

$8,000

$52,029

$63,161

$80,451

$35,550

$38,250

Website Maintenance/Hosting

$6,000

$7,000

$8,000

$9,000

$10,000

Other

$6,000

$7,000

$8,000

$9,000

$10,000

Total Operating Expenses

$283,029

$353,161

$445,951

$458,050

$514,750

Profit Before Interest and

Taxes

$98,243

$123,429

$149,787

$286,622

$416,090

Expenses

Payroll

Marketing/Promotion

Depreciation

Rent

Payroll Taxes

SADDAM HUSAIN

Page 29

EBITDA

$104,243

$133,429

$161,787

$304,622

$446,090

$688

$0

$0

$0

$0

Taxes Incurred

$29,267

$37,029

$44,936

$85,987

$124,827

Net Profit

$68,289

$86,400

$104,851

$200,635

$291,263

Net Profit/Sales

11.57%

11.71%

11.37%

17.41%

20.22%

Interest Expense

Projected Cash Flow

In the first year, cash flow will be supported by start-up funding and full payment by
customers in advance Company vans will be purchased with auto loans. When the
business expands to new offices across the county, additional vans and cleaning
equipment must be purchased. These will be financed through debt, including a company
credit line.

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PRO FORMA CASH FLOW

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

$590,130

$737,663

$922,078

$1,152,598

$1,440,747

$590,130

$737,663

$922,078

$1,152,598

$1,440,747

Sales Tax, VAT, HST/GST

Received

$0

$0

$0

$0

$0

New Current Borrowing

$0

$0

$0

$0

$0

New Other Liabilities (interestfree)

$0

$0

$0

$0

$0

New Long-term Liabilities

$0

$0

$0

$0

$0

Sales of Other Current Assets

$0

$0

$0

$0

$0

Cash Received

Cash from Operations

Cash Sales

SUBTOTAL CASH FROM

OPERATIONS

Additional Cash Received

SADDAM HUSAIN

Page 31

Sales of Long-term Assets

$0

$0

$0

$0

$0

New Investment Received

$0

$0

$0

$0

$0

$590,130

$737,663

$922,078

$1,152,598

$1,440,747

Year 1

Year 2

Year 3

Year 4

Year 5

Cash Spending

$138,000

$160,000

$210,000

$237,000

$255,000

Bill Payments

$308,546

$516,001

$585,861

$688,600

$850,715

$446,546

$676,001

$795,861

$925,600

$1,105,715

Sales Tax, VAT, HST/GST Paid

Out

$0

$0

$0

$0

$0

Principal Repayment of Current

Borrowing

$0

$0

$0

$0

$0

Other Liabilities Principal

Repayment

$0

$0

$0

$0

$0

SUBTOTAL CASH RECEIVED

Expenditures

Expenditures from Operations

SUBTOTAL SPENT ON
OPERATIONS

Additional Cash Spent

SADDAM HUSAIN

Page 32

Long-term Liabilities Principal

Repayment

$15,000

$0

$0

$0

$0

$0

$0

$0

$0

$0

$18,000

$30,000

$30,000

$30,000

$30,000

$0

$0

$0

$0

$0

$479,546

$706,001

$825,861

$955,600

$1,135,715

Net Cash Flow

$110,584

$31,662

$96,218

$196,997

$305,032

Cash Balance

$140,584

$172,245

$268,463

$465,460

$770,492

Purchase Other Current Assets

Purchase Long-term Assets

Dividends

SUBTOTAL CASH SPENT

Projected Balance Sheet

The net worth of the business will show healthy growth, even while liabilities will
increase due to the growth of the business and the need to purchase additional assets.
Liabilities will initially decrease in the second year as accounts payable from the first
large expansion are paid off. After that point, growth will be more even. A cash balance
will be built up with the plan of financing expansion of the business.

PRO FORMA BALANCE SHEET

YEAR 1

SADDAM HUSAIN

YEAR 2

Page 33

YEAR 3

YEAR 4

YEAR 5

Assets

Current Assets

Cash

Other Current Assets

TOTAL CURRENT ASSETS

$140,584

$172,245

$268,463

$465,460

$770,492

$0

$0

$0

$0

$0

$140,584

$172,245

$268,463

$465,460

$770,492

$48,000

$78,000

$108,000

$138,000

$168,000

$6,000

$16,000

$28,000

$46,000

$76,000

$42,000

$62,000

$80,000

$92,000

$92,000

$182,584

$234,245

$348,463

$557,460

$862,492

Year 1

Year 2

Year 3

Year 4

Year 5

$74,295

$39,556

$48,923

$57,285

$71,053

$0

$0

$0

$0

$0

Long-term Assets

Long-term Assets

Accumulated Depreciation

TOTAL LONG-TERM ASSETS

TOTAL ASSETS

Liabilities and Capital

Current Liabilities

Accounts Payable

Current Borrowing

SADDAM HUSAIN

Page 34

Other Current Liabilities

$0

$0

$0

$0

$0

$74,295

$39,556

$48,923

$57,285

$71,053

$0

$0

$0

$0

$0

$74,295

$39,556

$48,923

$57,285

$71,053

$77,500

$77,500

$77,500

$77,500

$77,500

($37,500)

$30,789

$117,190

$222,040

$422,676

$68,289

$86,400

$104,851

$200,635

$291,263

TOTAL CAPITAL

$108,289

$194,690

$299,540

$500,176

$791,439

TOTAL LIABILITIES AND

CAPITAL

$182,584

$234,245

$348,463

$557,460

$862,492

$108,289

$194,690

$299,540

$500,176

$791,439

SUBTOTAL CURRENT
LIABILITIES

Long-term Liabilities

TOTAL LIABILITIES

Paid-in Capital

Retained Earnings

Earnings

Net Worth

SADDAM HUSAIN

Page 35

Business Ratios
The business will have higher SGA expenses as a ratio of sales compared to the carpet
and upholstery cleaning industry as it requires a more professional, senior-level staff
during its first years of operation. These years are key to establishing the systems and
procedures which can be scaled for expansion. SGA as a percentage of sales will drop to
lower than the industry average after this expansion due to the reduction in staff and
office overhead allowed by its Web-based sales model. Savings from this will be put into
advertising to support the rapid growth of the business.

RATIO ANALYSIS

YEAR 1

YEAR 2

YEAR 3

YEAR 4

YEAR 5

INDUSTRY
PROFILE

n.a.

25.00%

25.00%

25.00%

25.00%

-0.71%

0.00%

0.00%

0.00%

0.00%

0.00%

53.59%

Total Current Assets

77.00%

73.53%

77.04%

83.50%

89.33%

70.11%

Long-term Assets

23.00%

26.47%

22.96%

16.50%

10.67%

29.89%

TOTAL ASSETS

100.00

100.00

100.00

100.00

100.00

100.00%

Sales Growth

Percent of Total
Assets

Other Current Assets

SADDAM HUSAIN

Page 36

40.69%

16.89%

14.04%

10.28%

8.24%

37.94%

0.00%

0.00%

0.00%

0.00%

0.00%

54.53%

Total Liabilities

40.69%

16.89%

14.04%

10.28%

8.24%

92.47%

NET WORTH

59.31%

83.11%

85.96%

89.72%

91.76%

7.53%

100.00%

100.00%

100.00%

100.00%

100.00%

100.00%

Gross Margin

64.61%

64.61%

64.61%

64.61%

64.61%

59.56%

Selling, General &

Administrative
Expenses

53.04%

52.90%

53.24%

47.20%

44.39%

28.35%

Advertising Expenses

10.17%

9.49%

8.68%

7.81%

6.94%

1.21%

Profit Before Interest

and Taxes

16.65%

16.73%

16.24%

24.87%

28.88%

8.19%

1.89

4.35

5.49

8.13

10.84

1.24

Current Liabilities

Long-term Liabilities

Percent of Sales

Sales

Main Ratios

Current

SADDAM HUSAIN

Page 37

Quick

1.89

4.35

5.49

8.13

10.84

1.18

Total Debt to Total

Assets

40.69%

16.89%

14.04%

10.28%

8.24%

92.47%

Pre-tax Return on Net

Worth

90.09%

63.40%

50.01%

57.30%

52.57%

696.24%

Pre-tax Return on
Assets

53.43%

52.69%

42.98%

51.42%

48.24%

52.41%

Additional Ratios

Year 1

Year 2

Year 3

Year 4

Year 5

Net Profit Margin

11.57%

11.71%

11.37%

17.41%

20.22%

n.a

Return on Equity

63.06%

44.38%

35.00%

40.11%

36.80%

n.a

5.09

12.17

12.17

12.17

12.17

n.a

28

43

27

28

27

n.a

3.23

3.15

2.65

2.07

1.67

n.a

Activity Ratios

Accounts Payable
Turnover

Payment Days

Total Asset Turnover

SADDAM HUSAIN

Page 38

Debt Ratios

Debt to Net Worth

0.69

0.20

0.16

0.11

0.09

n.a

Current Liab. to Liab.

1.00

1.00

1.00

1.00

1.00

n.a

$66,289

$132,690

$219,540

$408,176

$699,439

n.a

142.90

0.00

0.00

0.00

0.00

n.a

Assets to Sales

0.31

0.32

0.38

0.48

0.60

n.a

Current Debt/Total
Assets

41%

17%

14%

10%

8%

n.a

Acid Test

1.89

4.35

5.49

8.13

10.84

n.a

Sales/Net Worth

5.45

3.79

3.08

2.30

1.82

n.a

Dividend Payout

0.00

0.00

0.00

0.00

0.00

n.a

Liquidity Ratios

Net Working Capital

Interest Coverage

Additional Ratios

SADDAM HUSAIN

Page 39

Long-term Plan
The business's financial strategy is to grow rapidly to the point where its investment in its
website and infrastructure can be shown to provide much greater revenue than that of the
competition's more traditional approach of working with salaried salespeople. At this
point, the business will present a viable model for a second round of equity financing to
move towards a regional and then statewide franchise. At this point there will be the
potential for initial investors to cash out of the business.
Appendix
SALES FORECAST

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

10

11

12

60

74

92

114

142

176

218

270

335

416

516

639

40

50

64

80

101

127

160

202

254

320

404

508

60

74

92

114

142

176

218

270

335

416

516

639

Area Rugs

20

26

34

44

57

74

96

125

163

212

276

358

Other

20

26

34

44

57

74

96

125

163

212

276

358

200

251

316

397

499

627

789

994

1,251

1,576

1,986

2,504

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Month

Month 11

Month 12

Unit Sales

Carpet
Cleaning

Furniture
Cleaning

Intensive
Spot
Treatment

Services

TOTAL
UNIT
SALES

Unit
Prices

10

SADDAM HUSAIN

Page 40

Carpet

$100.00

$100.00

$100.00

$100.00

$100.00

$100.00

$100.00

$100.00

$100.00

$100.00

$100.00

$100.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$50.00

$50.00

$50.00

$50.00

$50.00

$50.00

$50.00

$50.00

$50.00

$50.00

$50.00

$50.00

Area Rugs

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

Other

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$25.00

$6,000

$7,440

$9,226

$11,440

$14,186

$17,591

$21,813

$27,048

$33,540

$41,590

$51,572

$63,949

$1,000

$1,260

$1,588

$2,001

$2,521

$3,176

$4,002

$5,043

$6,354

$8,006

$10,088

$12,711

$3,000

$3,720

$4,613

$5,720

$7,093

$8,795

$10,906

$13,523

$16,769

$20,794

$25,785

$31,973

Area Rugs

$500

$650

$845

$1,098

$1,427

$1,855

$2,412

$3,136

$4,077

$5,300

$6,890

$8,957

Other

$500

$650

$845

$1,098

$1,427

$1,855

$2,412

$3,136

$4,077

$5,300

$6,890

$8,957

Cleaning

Furniture
Cleaning

Intensive
Spot
Treatment

Services

Sales

Carpet
Cleaning

Furniture
Cleaning

Intensive
Spot
Treatment

Services

TOTAL

$11,000 $13,720 $17,117 $21,357 $26,654 $33,272 $41,545 $51,886 $64,817 $80,990

SALES

Direct

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Unit Costs

Carpet

$101,22 $126,547

Month

Month 11

Month 12

$30.00

$30.00

10

30.00%

$30.00

$30.00

$30.00

$30.00

$30.00

$30.00

Cleaning

SADDAM HUSAIN

Page 41

$30.00

$30.00

$30.00

$30.00

Furniture

30.00%

$7.50

$7.50

$7.50

$7.50

$7.50

$7.50

$7.50

$7.50

$7.50

$7.50

$7.50

$7.50

45.00%

$22.50

$22.50

$22.50

$22.50

$22.50

$22.50

$22.50

$22.50

$22.50

$22.50

$22.50

$22.50

Area Rugs 39.00%

$9.75

$9.75

$9.75

$9.75

$9.75

$9.75

$9.75

$9.75

$9.75

$9.75

$9.75

$9.75

$11.25

$11.25

$11.25

$11.25

$11.25

$11.25

$11.25

$11.25

$11.25

$11.25

$11.25

$11.25

$1,800

$2,232

$2,768

$3,432

$4,256

$5,277

$6,544

$8,114

$10,062

$12,477

$15,472

$19,185

$300

$378

$476

$600

$756

$953

$1,201

$1,513

$1,906

$2,402

$3,026

$3,813

$1,350

$1,674

$2,076

$2,574

$3,192

$3,958

$4,908

$6,085

$7,546

$9,357

$11,603

$14,388

Area Rugs

$195

$254

$330

$428

$557

$723

$941

$1,223

$1,590

$2,067

$2,687

$3,493

Other

$225

$293

$380

$494

$642

$835

$1,085

$1,411

$1,835

$2,385

$3,101

$4,031

$3,870

$4,830

$6,030

$7,529

$9,403

$11,746

$14,678

$18,347

$22,939

$28,688

$35,889

$44,910

Cleaning

Intensive
Spot
Treatment

Other

45.00%

Services

Direct
Cost of
Sales

Carpet
Cleaning

Furniture
Cleaning

Intensive
Spot
Treatment

Services

Subtotal
Direct
Cost of
Sales

PERSONNEL PLAN

SADDAM HUSAIN

Page 42

MONTH
1

MONTH
2

MONTH
3

MONTH
4

MONTH
5

MONTH
6

MONTH
7

MONTH
8

MONTH
9

MONTH
10

MONTH
11

MONTH
12

CEO

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

COO

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

Administrative
Assistant/
Manager

$0

$0

$0

$0

$0

$0

$3,000

$3,000

$3,000

$3,000

$3,000

$3,000

Administrative
Assistant 2

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$10,000

$10,000

$10,000

$10,000

$10,000

$10,000

$13,000

$13,000

$13,000

$13,000

$13,000

$13,000

TOTAL
PEOPLE

Total Payroll

PRO FORMA PROFIT AND LOSS

Sales

Direct Cost of Sales

Other Costs of Sales

TOTAL COST OF

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

10

11

12

$11,000

$13,720

$17,117

$21,357

$26,654

$33,272

$41,545

$51,886

$64,817

$80,990 $101,225 $126,547

$3,870

$4,830

$6,030

$7,529

$9,403

$11,746

$14,678

$18,347

$22,939

$28,688

$35,889

$44,910

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$3,870

$4,830

$6,030

$7,529

$9,403 $11,746 $14,678 $18,347 $22,939 $28,688 $35,889

$44,910

$7,130

$8,890

$11,087

$13,828

$17,251

$21,526

$26,867

$33,539

$41,878

$52,302

$65,336

$81,637

64.82%

64.80%

64.77%

64.75%

64.72%

64.70%

64.67%

64.64%

64.61%

64.58%

64.55%

64.51%

SALES

Gross Margin

Gross Margin %

SADDAM HUSAIN

Page 43

Expenses

Payroll

$10,000

$10,000

$10,000

$10,000

$10,000

$10,000

$13,000

$13,000

$13,000

$13,000

$13,000

$13,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

Depreciation

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

Rent

$500

$500

$500

$500

$500

$500

$1,200

$1,200

$1,200

$1,200

$1,200

$1,200

$50

$50

$50

$50

$50

$50

$150

$150

$150

$150

$150

$150

$200

$200

$200

$200

$200

$200

$400

$400

$400

$400

$400

$400

Marketing/Promotion

Utilities

Insurance

Payroll Taxes

15%

$2,081

$2,225

$2,404

$2,629

$2,910

$3,262

$4,152

$4,702

$5,391

$6,253

$7,333

$8,686

Website

15%

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$500

$19,331

$19,475

$19,654

$19,879

$20,160

$20,512

$25,402

$25,952

$26,641

$27,503

$28,583

$29,936

($10,585 ($8,567)

($6,051

($2,909

$1,014

$1,465

$7,587

$15,237

$24,799

$36,753

$51,701

($5,551

($2,409

$1,514

$1,965

$8,087

$15,737

$25,299

$37,253

$52,201

$94

$83

$73

$63

$52

$42

$31

$21

$10

$0

($3,207) ($2,598)

($1,840

($895)

$285

$424

$2,264

$4,562

$7,433

$11,023

$15,510

($4,294

($2,087

$666

$989

$5,282

$10,644

$17,344

$25,720

$36,191

-54.53% -35.42% -20.11%

-7.83%

2.00%

2.38%

10.18%

16.42%

21.42%

25.41%

28.60%

Maintenance/Hostin
g

Other

Total Operating
Expenses

Profit Before

($12,201)

Interest and Taxes

EBITDA

($11,701)

($10,085 ($8,067)
)

Interest Expense

Taxes Incurred

$115

($3,695)

$104

Net Profit

Net Profit/Sales

($8,621)

-78.37%

($7,482) ($6,063)

SADDAM HUSAIN

Page 44

PRO FORMA CASH FLOW

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

10

11

12

$11,000

$13,720

$17,117

$21,357

$26,654

$33,272

$41,545

$51,886

$64,817

$80,990

$101,225

$126,547

Cash Received

Cash from
Operations

Cash Sales

SUBTOTAL

$11,000 $13,720 $17,117 $21,357 $26,654 $33,272 $41,545 $51,886 $64,817 $80,990

CASH FROM

$101,22 $126,547
5

OPERATION
S

Additional
Cash Received

Sales Tax,

0.00%

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

VAT, HST/GST
Received

New Current
Borrowing

New Other
Liabilities
(interest-free)

New Longterm Liabilities

Sales of Other
Current Assets

Sales of Longterm Assets

SADDAM HUSAIN

Page 45

New

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

Investment
Received

SUBTOTAL

$11,000 $13,720 $17,117 $21,357 $26,654 $33,272 $41,545 $51,886 $64,817 $80,990

CASH

$101,22 $126,547
5

RECEIVED

Expenditures

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Month

Month 11

Month 12

10

Expenditures
from
Operations

Cash

$10,000

$10,000

$10,000

$10,000

$10,000

$10,000

$13,000

$13,000

$13,000

$13,000

$13,000

$13,000

$5,304

$9,173

$10,768

$12,762

$15,254

$18,370

$22,271

$27,258

$33,356

$40,989

$50,541

$62,500

$15,304 $19,173 $20,768 $22,762 $25,254 $28,370 $35,271 $40,258 $46,356 $53,989

$63,541

$75,500

Spending

Bill Payments

SUBTOTAL
SPENT ON
OPERATION
S

Additional
Cash Spent

Sales Tax,

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$1,250

$1,250

$1,250

$1,250

$1,250

$1,250

$1,250

$1,250

$1,250

$1,250

$1,250

$1,250

VAT, HST/GST
Paid Out

Principal
Repayment of
Current
Borrowing

Other
Liabilities
Principal
Repayment

Long-term
Liabilities
Principal

SADDAM HUSAIN

Page 46

Repayment

Purchase

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$3,000

$0

$15,000

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$16,554 $20,423 $22,018 $24,012 $26,504 $29,620 $39,521 $41,508 $62,606 $55,239

$64,791

$76,750

Other Current
Assets

Purchase
Long-term
Assets

Dividends

SUBTOTAL
CASH SPENT

Net Cash Flow

($5,554) ($6,703) ($4,901) ($2,655)

Cash Balance

$24,446

$17,743

$12,842

$10,187

$150

$3,652

$2,024

$10,378

$2,211

$25,751

$36,434

$49,797

$10,337

$13,988

$16,013

$26,391

$28,601

$54,353

$90,787

$140,584

PRO FORMA BALANCE SHEET

Assets

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

MONTH

10

11

$30,000

$24,446

$17,743

$12,842

$10,187

$10,337

$13,988

$16,013

$26,391

$28,601

$54,353

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$30,00

$24,44

$17,74

$12,84

$10,18

$10,33

$13,98

$16,01

$26,39

$28,60

Starting
Balances

Current
Assets

Cash

Other

$90,787 $

$0

Current
Assets

TOTAL
CURRENT
ASSETS

SADDAM HUSAIN

Page 47

$54,35 $90,787 $
3

Long-term
Assets

Long-term

$30,000

$30,000

$30,000

$30,000

$30,000

$30,000

$30,000

$33,000

$33,000

$48,000

$48,000

$48,000

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

$5,000

$5,500

TOTAL

$30,00

$29,50

$29,00

$28,50

$28,00

$27,50

$27,00

$29,50

$29,00

$43,50

LONG-

$60,00

$53,94

$46,74

$41,34

$38,18

$37,83

$40,98

$45,51

$55,39

$72,10

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Assets

Accumulate
d
Depreciation

$43,00 $42,500 $
0

TERM
ASSETS

TOTAL
ASSETS

Liabilities
and Capital

$97,35 $133,28 $
3

Month Month 11 M
10

Current
Liabilities

Accounts

$5,000

$8,817

$10,345

$12,257

$14,646

$17,633

$21,369

$26,154

$32,001

$39,317

$48,474

$59,938

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$5,000

$8,817

$10,34

$12,25

$14,64

$17,63

$21,36

$26,15

$32,00

$39,31

$2,500

Payable

Current
Borrowing

Other
Current
Liabilities

SUBTOTAL
CURRENT

$48,47 $59,938 $

LIABILITI
ES

Long-term

$15,000

$13,750

$12,500

$11,250

$10,000

$8,750

$7,500

$6,250

$5,000

$3,750

$20,00

$22,56

$22,84

$23,50

$24,64

$26,38

$28,86

$32,40

$37,00

$43,06

$1,250

Liabilities

TOTAL
LIABILITI

SADDAM HUSAIN

Page 48

$50,97 $61,188 $
4

ES

Paid-in

$77,500

$77,500

$77,500

$77,500

$77,500

$77,500

$77,500

$77,500

$77,500

$77,500

$77,500

$77,500

Retained

($37,50

($37,50

($37,50

($37,50

($37,50

($37,50

($37,50

($37,50

($37,50

($37,50

($37,50 ($37,500 (

Earnings

0)

0)

0)

0)

0)

0)

0)

0)

0)

0)

0)

Earnings

$0 ($8,621)

($16,10

($22,16

($26,45

($28,54

($27,88

($26,89

($21,61

($10,96

$6,379

$32,099

3)

5)

9)

7)

1)

2)

0)

6)

Capital

TOTAL
CAPITAL

TOTAL
LIABILITI

$40,00

$31,37

$23,89

$17,83

$13,54

$11,45

$12,11

$13,10

$18,39

$29,03

$46,37 $72,099 $

$60,00

$53,94

$46,74

$41,34

$38,18

$37,83

$40,98

$45,51

$55,39

$72,10

$40,000

$31,379

$23,897

$17,835

$13,541

$11,453

$12,119

$13,108

$18,390

$29,034

$46,379

$97,35 $133,28 $
7

ES AND
CAPITAL

Net Worth

SADDAM HUSAIN

Page 49

$72,099 $