Académique Documents
Professionnel Documents
Culture Documents
Business Plan
Prepared May 2017
Contact Information
Garrett McKenzie
garrett@universitycycleworks.com
(555) 555-5555
www.universitycycleworks.com
488 East 11th Avenue, Suite 220
Eugene, OR 97401, United States
Garrett's Bike Shop - QB i
Table of Contents
Executive Summary.................................................................................1
What We Sell ...........................................................................................................................................................1
Who We Sell To ......................................................................................................................................................1
Opportunity............................................................................................................................................................2
Expectations ...........................................................................................................................................................3
Opportunity ...............................................................................................5
Problem & Solution...............................................................................................................................................5
Competition ...........................................................................................................................................................5
Execution....................................................................................................7
Marketing & Sales ..................................................................................................................................................7
Operations...............................................................................................................................................................7
Milestones & Metrics ............................................................................................................................................8
Company ....................................................................................................9
Management Team ..............................................................................................................................................9
Overview ...............................................................................................................................................................10
Market Trends.......................................................................................................................................................11
Financial Plan..........................................................................................12
Forecast..................................................................................................................................................................12
Statements.............................................................................................................................................................13
Appendix ..................................................................................................19
Monthly Statements ...........................................................................................................................................19
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Garrett's Bike Shop - QB 1
Executive Summary
What We Sell
Bicycles. We sell new bicycles, predominantly in the mountain bike style, retro-cruiser is a
close second, and sport/touring/racing road bikes a distant third. We also sell some used bikes
which we take in on trade as a service to our customers who are buying new bikes.
Clothing. We rotate our clothing based on the season. For example, in Autumn, we stock
jackets and Gore-Tex. In Winter, we offer helmet covers and liners, insulated jerseys and pants,
gloves, and shoe covers. In the Spring, we start displaying summer jerseys, and racing shorts
Parts. Parts generally refers to pieces or materials necessary to the basic functioning of the
bicycle. Generally, parts are installed during service and are an additional charge beyond the
service fees.
Who We Sell To
The primary market for Garrett's Bike Shop is the university student population, which
normally has a turnover/growth of approximately 25% each year. The secondary market is the
university faculty and staff, and the tertiary market is the greater Metroburg community.
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Garrett's Bike Shop - QB 2
Athletic pursuits draw them, and the nearby areas for use of mountain and trail bikes
provides a great place to ride.
3. There is a new enthusiasm for retro Cruiser bikes, and higher tech cruiser-style bikes
with multiple gears, good brakes, etc. among the college age population.
4. Also, main market for racks, locks, throughout, pannier/bags, fenders, rainwear, etc.
5. They want convenience for sales and service.
Opportunity
Problem
It's hard to buy a good bike in this town without being an "insider" cycling expert.
Solution
Garrett's is a snob free zone where regular people can get top notch gear and expert advice.
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Garrett's Bike Shop - QB 3
Competition
Current Alternatives
The two strongest competitors are the Oldest Shop in Town which carries the cache of being
the most stable, and most well known -- a Metroburg institution. The Mountain Bike Specialist
targets the same athletic, young, performance and image conscious rider that we target in the
university student population. These cyclists are particular about their bike and will go where
the name brand they want is sold, or will try every bike and then buy the one that fits best,
regardless of store loyalty.
Why Us?
We offer a welcoming, family-friendly bike shop space with higher quality gear and services.
Expectations
Forecast
This financial plan was developed based upon previous years' data for the existing store,
tracking trends in revenues and expenses. A five-month track of sales, accounts receivables
and payables, and inventory from a year-end benchmark was made. The current owner, Han
Delbar, has sold the business to Hubert Wheeler for $140,000. The seller, buyer, and the
accountant worked together on the plan to balance optimism with reality. An attorney was
consulted on specifics of the sale contract.
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Garrett's Bike Shop - QB 4
Sales for the first year of new ownership are projected above $500,000, with a gross margin of
almost 65%. Profitability is expected at the mid-way point of the fiscal year, in March.
Financing Needed
We plan on bootstrapping the business to start, but may consider loans for future expansion.
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Garrett's Bike Shop - QB 5
Opportunity
Problem & Solution
Problem Worth Solving
No full-service bike shop offers a snob-free zone focused on servicing the university market.
Our Solution
Competition
The foremost competitive advantage of Garrett's Bike Shop is our university location. The
university is over 100 years old and as it has grown, Metroburg has grown around it. Parking is
almost nonexistent, with all campus parking permit or meter controlled, and local streets filled
to capacity with the vehicles of residents. Bicycles are an obvious and popular transportation
solution.
The negotiations of the past two years also brings the advantage of continued financial
agreements with major suppliers. This is an advantage over a start-up bicycle shop, but, is
more a leveling of the bike path when compared to other established shop in Metroburg.
Traditionally a start-up store will be placed on a Cash On Delivery (COD) status by bicycle
manufacturers and parts/accessories suppliers. The COD status stays in effect until the new
shop demonstrates its ability to manage its orders and cash flow. This also means the new shop
must have more funding to be able to write checks on a moments notice, for large amounts.
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Garrett's Bike Shop - QB 6
Strategic Alliances
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Garrett's Bike Shop - QB 7
Execution
Marketing & Sales
Operations
Locations & Facilities
Garrett's Bike Shop is 1,500 square foot store of interior space located on the university campus
in Metroburg. Our location, in the first block off campus in a commercial area featuring the
university bookstore, a private bookstore, bank, cafes, coffee shops and popular watering holes
is ideal. We get constant, daily visual exposure. Students and staff throng the sidewalk outside
our door, and we reap the benefits. Our nearest competitor is almost a mile away. For the
student customer, on foot, in a hurry, Garrett's Bike Shop is the immediate solution to their
needs.
Technology
Our bike shop is equipped with the latest technology to help maintain your bicycle needs.
Whether older bike parts, or newer technologies, we stock inventory of whichever parts you
seek to maintain your bike is in peak condition.
With our customized online tracking system, we can keep record of what we took care of on
your bike from the last visit and maintain an ongoing record for future visits. This allows us to
specialize your visits each time you visit our shop.
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Garrett's Bike Shop - QB 8
We recognize that all bikes require basic tune-ups, to complex maintenance. With an array of
bikes in mind, we have the right equipment and tools to cater to your biking needs.
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Garrett's Bike Shop - QB 9
Company
Management Team
Garrett McKenzie Founder/Owner
After a successful run as a mortgage broker, Garrett will apply his business acumen to leading a
company he is passionate about.
After a decade of bike-shop experience and five completed triathlons, Jill will anchor the
services side of the business.
Heather is an avid cyclist and small business investor. Her expertise is in small business
expansion.
The current assistant manager, Hubert Wheeler, is buying Garrett's Bike Shop, and will manage
the business. He has a B.S. degree in Economics and an M.A. in Comparative Literature. His
passion however has always been cycling. He originally worked at his local bike shop when he
was in college. After several years trying to find suitable work in his degree field, he gave up
chasing the chimera of these fields and decided to work with something substantial, and
returned to his youthful enjoyment of bicycles.
He attended two of the major bicycle mechanic training programs, at New England Bicycle
Academy and the United Bicycle Institute. These courses covered mechanical service and
maintenance, frame building and repair, wheel building, and shop organization, sales, and
management. He has 12 years of progressively responsible experience in bicycle shops with
the last five at Garrett's Bike Shop.
One of the other full-time employees, Valerie Pede has expressed interest in learning more
about the bike industry and she will be promoted to be the new assistant manager. Val has been
with us for three years. She graduated from State University at Metroburg with tandem B.S.
degrees in Exercise Physiology and Recreation Management. She loves to cycle, and has kept
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Garrett's Bike Shop - QB 10
her contacts at the university active. Her knowledge and expertise draws many women
bicyclists to our store where they know they will get the care and attention which is usually
missing from traditionally male staffed shops.
Newt Ria, a partner at Weasel, Stoat, Muskrat who advised on the sale/purchase
arrangements.
Overview
Ownership & Structure
Garrett's Bike Shop is a subchapter S corporation, and is currently owned by Han Delbar.
Hubert Wheeler, current assistant manager of Garrett's Bike Shop, is purchasing Garrett's Bike
Shop from Delbar, acquiring existing inventory, and assuming outstanding accounts payable
and dating program debts to suppliers, location lease, customer base and information, and
Garrett's Bike Shop's business name and goodwill. The business will continue to be a
subchapter S corporation. Exchange of ownership will occur on July 1st.
To establish an accurate accounting of existing inventory and outstanding debts, the prior
year's closing inventory and year end financial statement as reviewed by the business' CPA
were used as benchmarks. The sales, orders placed, deliveries received, and accounts payable
payments made have been tracked each month, and a trial balance of these will be run June 15
to establish the final purchase price for inventory on hand, and the amount of Accounts
Payable assumed. The figures presented here are conservative, realistic estimates used for
planning purposes.
Company History
The current assistant manager, Hubert Wheeler, is buying Garrett's Bike Shop, and will manage
the business. He has a B.S. degree in Economics and an M.A. in Comparative Literature. His
passion however has always been cycling. He originally worked at his local bike shop when he
was in college. After several years trying to find suitable work in his degree field, he gave up
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only with the understanding that you will not share its contents or ideas with third parties without the express written consent
of the plan author.
Garrett's Bike Shop - QB 11
chasing the chimera of these fields and decided to work with something substantial, and
returned to his youthful enjoyment of bicycles.
He attended two of the major bicycle mechanic training programs, at New England Bicycle
Academy and the United Bicycle Institute. These courses covered mechanical service and
maintenance, frame building and repair, wheel building, and shop organization, sales, and
management. He has 12 years of progressively responsible experience in bicycle shops with
the last five at Garrett's Bike Shop.
One of the other full-time employees, Valerie Pede has expressed interest in learning more
about the bike industry and she will be promoted to be the new assistant manager. Val has been
with us for three years. She graduated from State University at Metroburg with tandem B.S.
degrees in Exercise Physiology and Recreation Management. She loves to cycle, and has kept
her contacts at the university active. Her knowledge and expertise draws many women
bicyclists to our store where they know they will get the care and attention which is usually
missing from traditionally male staffed shops.
Market Trends
Trends in the bicycle industry usually last for a time. Some of them have been:
1990s - The rumored but exaggerated death of "road bikes" and the unfulfilled prophesy
of a boom in the tandem market.
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Garrett's Bike Shop - QB 12
Financial Plan
Forecast
Sales vary season to season and with the academic school year. Surprisingly, summer is the
slowest season because there are fewer students in town. Business picks up in August with the
return of the students and staff, and flourishes in September. Accessories and rainwear sales
increase in the autumn and early winter. Repairs and maintenance are steady. Holiday sales are
brisk, though generally leaning again to accessories, parts, rainwear, gloves, helmets,
headlights, etc. Winter sales are moderate, and then pick up in springtime as people put away
their skies and look forward to local outdoor activities, longer daylight hours, and drier
weather.
1. Back to school in August/September. This is our biggest sale of the year. New bicycles,
locks, helmets, racks, fenders, backpacks. We always search for a special purchase of
good quality, but value priced bikes for this sale such as year end models, slow sellers,
new line looks to break into the market. These bikes will almost always sell out to
students seeking great values.
2. Year-end holidays. This also overlaps the beginning of Winter term. The retail market
demands some participation in this annual buying frenzy, yet, this sale produces lower
revenue than our other two events. We sell fewer bikes, and more accessories and
clothing.
3. Spring. This coincides with both the return of nice weather, and beginning of Spring
term. We feature new bicycles, and repair/maintenance/tune-up specials. It is
important to us to have a good selection on hand at this time. When people decide they
want that new bike, they want it now. If we don't have the bike then, and make the sale
immediately, many riders will decide that they really can get another season out of their
old bike, and will spend their discretionary income on some other purchase.
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Garrett's Bike Shop - QB 13
Monthly service contract for repairs and parts with the University Security Office.
Statements
Net Profit (or Loss) by Year
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Garrett's Bike Shop - QB 14
In negotiating the smooth transition in ownership, the landlord agreed to continue the current
lease unchanged. As surety, one month's rent was required as a deposit at the time of sale. This
is shown in the starting expenses. Further, the landlord agreed that if, after 11 months
operation the new company was solvent and current in lease payments, that the deposit could
be applied to the twelfth month's rent.
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Garrett's Bike Shop - QB 15
The mid-summer months of July and August are slow months when a large part of the
university population is gone on summer break. The mid-winter months are traditionally loss
months. The weather is the most inclement and discretionary income is at its lowest after the
holiday binges. However, we try to keep our entire staff on board to work on our own
inventory, store refurbishing, and staff training.
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Garrett's Bike Shop - QB 16
Balance Sheet
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Garrett's Bike Shop - QB 17
Our goal is to repay the loans from our family within the first year, and we project paying Han
Delbar his entire purchase price within five years. Other balance sheet information is shown in
the table.
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Garrett's Bike Shop - QB 18
The cash flow reflects the seasonality of bicycle sales and the varying payment programs. At
times, the business is inventory heavy, stocking up for the beginning of school rush, or
specific sales. At other times, there is negative cash flow as long-term accounts payable, net 90,
net 60 payments coincide with regular net 30 invoices.
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Garrett's Bike Shop - QB 19
Appendix
Monthly Statements
Profit and Loss Statement (With Monthly Detail)
FY2016 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
Revenue $86,400 $99,500 $118,050 $128,025 $131,450 $142,050 $99,650 $112,575 $108,725 $122,775 $140,250 $156,975
Direct Costs $32,088 $36,646 $43,579 $47,157 $48,475 $52,732 $35,275 $40,694 $39,836 $45,533 $52,322 $58,005
Gross Margin $54,312 $62,854 $74,471 $80,868 $82,975 $89,319 $64,375 $71,881 $68,889 $77,242 $87,928 $98,971
Gross
63% 63% 63% 63% 63% 63% 65% 64% 63% 63% 63% 63%
Margin %
Operating
Expenses
Salary $7,366 $7,366 $7,366 $7,366 $7,367 $7,367 $7,367 $7,367 $7,367 $7,367 $7,367 $7,367
Employee
Related $1,326 $1,326 $1,326 $1,326 $1,326 $1,326 $1,326 $1,326 $1,326 $1,326 $1,326 $1,326
Expenses
Insurance $355 $355 $355 $355 $355 $355 $355 $355 $355 $355 $355 $355
Leased
$150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Equipment
Marketing $8,640 $9,950 $11,805 $12,803 $13,145 $14,205 $9,965 $11,257 $10,873 $12,277 $14,025 $15,698
Lease $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700
Utilities $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Office
$4,320 $4,975 $5,903 $6,401 $6,572 $7,103 $4,982 $5,629 $5,436 $6,139 $7,013 $7,848
Expenses
Total
Operating $27,157 $29,122 $31,904 $33,401 $33,915 $35,506 $29,145 $31,085 $30,507 $32,614 $35,235 $37,745
Expenses
Operating
$27,155 $33,732 $42,567 $47,467 $49,060 $53,813 $35,229 $40,796 $38,382 $44,628 $52,692 $61,227
Income
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Garrett's Bike Shop - QB 20
Interest Incurred $750 $739 $729 $717 $707 $696 $684 $674 $662 $652 $640
Depreciation
and $1,144 $1,144 $1,144 $1,144 $1,283 $1,283 $1,283 $1,283 $1,283 $1,283 $1,283 $1,303
Amortization
Income Taxes $3,902 $4,775 $6,103 $6,839 $7,059 $7,773 $4,988 $5,824 $5,464 $6,403 $7,613 $8,893
Total
$64,291 $72,437 $83,470 $89,269 $91,450 $97,999 $71,388 $79,570 $77,763 $86,496 $97,105 $106,585
Expenses
Net Profit $22,109 $27,063 $34,580 $38,756 $40,000 $44,051 $28,262 $33,005 $30,962 $36,279 $43,145 $50,390
Net Profit /
26% 27% 29% 30% 30% 31% 28% 29% 28% 30% 31% 32%
Sales
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Garrett's Bike Shop - QB 21
FY2017 Oct '16 Nov '16 Dec '16 Jan '17 Feb '17 Mar '17 Apr '17 May '17 Jun '17 Jul '17 Aug '17 Sep '17
Revenue $118,345 $118,344 $118,344 $118,345 $118,344 $118,345 $118,344 $118,344 $121,435 $121,555 $121,793 $121,615
Direct Costs $43,322 $43,322 $43,322 $43,323 $43,321 $43,323 $43,322 $43,322 $44,404 $44,446 $44,529 $44,467
Gross Margin $75,023 $75,022 $75,022 $75,023 $75,022 $75,023 $75,022 $75,022 $77,031 $77,109 $77,264 $77,148
Gross
63% 63% 63% 63% 63% 63% 63% 63% 63% 63% 63% 63%
Margin %
Operating
Expenses
Salary $7,655 $7,654 $7,655 $7,654 $7,655 $7,654 $7,656 $7,655 $7,656 $7,655 $7,656 $7,655
Employee
Related $1,378 $1,378 $1,377 $1,378 $1,378 $1,378 $1,378 $1,378 $1,378 $1,378 $1,378 $1,378
Expenses
Insurance $355 $355 $355 $355 $355 $355 $355 $355 $355 $355 $355 $355
Leased
$150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Equipment
Marketing $11,834 $11,834 $11,835 $11,834 $11,835 $11,834 $11,835 $11,834 $12,144 $12,155 $12,179 $12,162
Lease $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700
Utilities $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Office
$5,918 $5,917 $5,917 $5,917 $5,917 $5,918 $5,917 $5,917 $6,072 $6,078 $6,089 $6,081
Expenses
Total
Operating $32,289 $32,289 $32,289 $32,289 $32,289 $32,289 $32,290 $32,290 $32,754 $32,771 $32,808 $32,781
Expenses
Operating
$42,733 $42,733 $42,733 $42,734 $42,733 $42,733 $42,732 $42,732 $44,277 $44,338 $44,456 $44,367
Income
Interest Incurred $629 $617 $606 $594 $583 $572 $560 $548 $536 $524 $513 $501
Depreciation
and $1,303 $1,303 $1,302 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303
Amortization
Income Taxes $6,120 $6,122 $6,124 $6,125 $6,127 $6,129 $6,130 $6,132 $6,366 $6,377 $6,396 $6,384
Total
$83,663 $83,653 $83,644 $83,634 $83,624 $83,615 $83,605 $83,595 $85,363 $85,422 $85,548 $85,435
Expenses
Net Profit $34,682 $34,691 $34,700 $34,711 $34,720 $34,730 $34,739 $34,749 $36,072 $36,133 $36,245 $36,180
Net Profit /
29% 29% 29% 29% 29% 29% 29% 29% 30% 30% 30% 30%
Sales
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Garrett's Bike Shop - QB 22
FY2018 Oct '17 Nov '17 Dec '17 Jan '18 Feb '18 Mar '18 Apr '18 May '18 Jun '18 Jul '18 Aug '18 Sep '18
Revenue $131,503 $131,483 $131,533 $131,773 $132,052 $131,934 $132,353 $132,352 $132,363 $132,264 $132,392 $132,363
Direct Costs $49,306 $49,300 $49,316 $49,401 $49,498 $49,458 $49,603 $49,604 $49,607 $49,573 $49,617 $49,607
Gross Margin $82,197 $82,184 $82,216 $82,372 $82,554 $82,477 $82,749 $82,749 $82,756 $82,691 $82,775 $82,756
Gross
63% 63% 63% 63% 63% 63% 63% 63% 63% 63% 63% 63%
Margin %
Operating
Expenses
Salary $7,955 $7,956 $7,956 $7,956 $7,956 $7,956 $7,955 $7,957 $7,957 $7,957 $7,957 $7,957
Employee
Related $1,432 $1,432 $1,432 $1,432 $1,432 $1,432 $1,432 $1,432 $1,433 $1,432 $1,432 $1,432
Expenses
Insurance $355 $355 $355 $355 $355 $355 $355 $355 $355 $355 $355 $355
Leased
$150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Equipment
Marketing $13,150 $13,148 $13,154 $13,177 $13,205 $13,194 $13,235 $13,235 $13,236 $13,227 $13,239 $13,236
Lease $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700 $4,700
Utilities $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300 $300
Office
$6,575 $6,574 $6,577 $6,589 $6,602 $6,597 $6,617 $6,618 $6,618 $6,613 $6,620 $6,618
Expenses
Total
Operating $34,617 $34,615 $34,623 $34,659 $34,701 $34,683 $34,746 $34,747 $34,748 $34,734 $34,753 $34,749
Expenses
Operating
$47,580 $47,568 $47,594 $47,713 $47,853 $47,794 $48,003 $48,002 $48,007 $47,957 $48,022 $48,007
Income
Interest Incurred $488 $477 $464 $453 $440 $428 $415 $403 $390 $378 $366 $352
Depreciation
and $1,184 $1,184 $1,184 $1,183 $1,184 $1,184 $1,184 $1,184 $1,184 $1,184 $1,184 $1,184
Amortization
Income Taxes $6,265 $6,886 $6,892 $6,911 $6,935 $6,927 $6,961 $6,962 $6,965 $6,959 $6,971 $6,971
Total
$96,004 $92,461 $92,480 $92,607 $92,758 $92,679 $92,910 $92,899 $92,895 $92,828 $92,890 $92,864
Expenses
Net Profit $35,499 $39,022 $39,053 $39,166 $39,294 $39,255 $39,443 $39,453 $39,468 $39,436 $39,502 $39,499
Net Profit /
27% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%
Sales
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Garrett's Bike Shop - QB 23
Operating Expenses
Salary $88,400 $91,860 $95,475
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Garrett's Bike Shop - QB 24
FY2016 Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
Net Cash
Flow from
Operations
Net Profit $22,109 $27,063 $34,580 $38,756 $40,000 $44,051 $28,262 $33,005 $30,962 $36,279 $43,145 $50,390
Depreciation
and $1,144 $1,144 $1,144 $1,144 $1,283 $1,283 $1,283 $1,283 $1,283 $1,283 $1,283 $1,303
Amortization
Change in
Accounts ($18,484) ($5,233) ($7,388) ($3,942) ($1,338) ($4,271) $16,976 ($5,196) $1,419 ($5,664) ($6,910) ($6,661)
Receivable
Change in
($442,249) ($21,358) $256 $3,835 $5,153 $9,409 ($8,047) ($2,628) ($3,486) $2,211 $7,918 $13,558
Inventory
Change in
Accounts $137,841 ($50,390) ($65,725) ($1,336) $379 $554 ($1,670) ($372) $118 $546 $1,427 $1,321
Payable
Change in
Income Tax $3,902 $4,775 $6,103 ($7,941) $7,059 $7,773 ($16,683) $5,824 $5,464 ($9,873) $7,613 $8,893
Payable
Change in
Sales Tax $2,891 $3,745 $4,897 ($6,100) $5,576 $6,366 ($13,878) $4,429 $4,496 ($6,873) $6,500 $7,537
Payable
Change in
Prepaid
Revenue
Net Cash
Flow from ($292,847) ($40,254) ($26,132) $24,416 $58,111 $65,164 $6,244 $36,344 $40,255 $17,909 $60,977 $76,342
Operations
Investing &
Financing
Assets
Purchased or ($10,000) ($25,000) ($1,200)
Sold
Investments
Received
Change in
Long-Term $123,479 ($2,283) ($2,294) ($2,305) ($2,317) ($2,329) ($2,340) ($2,352) ($2,364) ($2,376) ($2,387) ($2,399)
Debt
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Garrett's Bike Shop - QB 25
Change in
Short-Term $26,521 $133 $133 $134 $135 $135 $136 $137 $137 $138 $139 $139
Debt
Dividends &
($1,000)
Distributions
Net Cash
Flow from
$139,000 ($2,150) ($2,161) ($2,172) ($27,182) ($2,193) ($2,204) ($2,215) ($2,226) ($2,238) ($2,249) ($3,460)
Investing &
Financing
Cash at
Beginning of $25,000 ($128,847) ($171,251) ($199,544) ($177,299) ($146,370) ($83,399) ($79,359) ($45,231) ($7,203) $8,469 $67,197
Period
Net Change in
($153,847) ($42,404) ($28,293) $22,245 $30,929 $62,971 $4,040 $34,129 $38,028 $15,672 $58,728 $72,882
Cash
Cash at End
($128,847) ($171,251) ($199,544) ($177,299) ($146,370) ($83,399) ($79,359) ($45,231) ($7,203) $8,469 $67,197 $140,078
of Period
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Garrett's Bike Shop - QB 26
FY2017 Oct '16 Nov '16 Dec '16 Jan '17 Feb '17 Mar '17 Apr '17 May '17 Jun '17 Jul '17 Aug '17 Sep '17
Net Cash
Flow from
Operations
Net Profit $34,682 $34,691 $34,700 $34,711 $34,720 $34,730 $34,739 $34,749 $36,072 $36,133 $36,245 $36,180
Depreciation
and $1,303 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303 $1,303
Amortization
Change in
Accounts $15,955 $0 $0 $0 $1 ($1) $0 $0 ($1,241) ($48) ($96) $72
Receivable
Change in
($1,207) ($1,145) ($5,984) ($5,977) ($5,995) ($6,078) ($6,176) ($6,135) ($5,200) ($5,157) ($5,078) ($5,106)
Inventory
Change in
Accounts ($1,331) ($875) $1,442 $724 $4 $28 $42 $2 $177 $97 $15 ($12)
Payable
Change in
Income Tax $6,120 $6,122 ($16,785) ($12,241) $6,127 $6,129 ($12,251) $6,132 $6,366 ($12,251) $6,396 $6,384
Payable
Change in
Sales Tax ($15,965) $3,621 $3,621 ($7,242) $3,620 $3,621 ($7,241) $3,621 $3,838 ($7,235) $3,863 $3,849
Payable
Change in
Prepaid
Revenue
Net Cash
Flow from $39,557 $43,717 $18,297 $11,278 $39,780 $39,732 $10,416 $39,672 $41,316 $12,842 $42,647 $42,669
Operations
Investing &
Financing
Assets
Purchased or
Sold
Investments
Received
Change in
Long-Term ($2,411) ($2,423) ($2,436) ($2,448) ($2,460) ($2,472) ($2,485) ($2,497) ($2,509) ($2,522) ($2,535) ($2,547)
Debt
Change in
Short-Term $140 $141 $141 $142 $143 $144 $144 $145 $146 $147 $147 $148
Debt
Dividends &
Distributions
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Garrett's Bike Shop - QB 27
Net Cash
Flow from
($2,271) ($2,283) ($2,294) ($2,305) ($2,317) ($2,329) ($2,340) ($2,352) ($2,364) ($2,376) ($2,387) ($2,399)
Investing &
Financing
Cash at
Beginning of $140,078 $177,364 $218,798 $234,802 $243,774 $281,237 $318,640 $326,716 $364,036 $402,988 $413,454 $453,714
Period
Net Change in
$37,286 $41,434 $16,003 $8,972 $37,463 $37,403 $8,076 $37,320 $38,952 $10,466 $40,260 $40,270
Cash
Cash at End
$177,364 $218,798 $234,802 $243,774 $281,237 $318,640 $326,716 $364,036 $402,988 $413,454 $453,714 $493,984
of Period
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Garrett's Bike Shop - QB 28
FY2018 Oct '17 Nov '17 Dec '17 Jan '18 Feb '18 Mar '18 Apr '18 May '18 Jun '18 Jul '18 Aug '18 Sep '18
Net Cash
Flow from
Operations
Net Profit $35,499 $39,022 $39,053 $39,166 $39,294 $39,255 $39,443 $39,453 $39,468 $39,436 $39,502 $39,499
Depreciation
and $1,184 $1,184 $1,184 $1,184 $1,184 $1,184 $1,184 $1,184 $1,184 $1,184 $1,184 $1,184
Amortization
Change in
Accounts ($3,692) $8 ($20) ($96) ($113) $48 ($168) $0 ($5) $40 ($51) $12
Receivable
Change in
($311) ($308) ($291) ($207) ($109) ($150) ($4) ($4) $0 ($35) $10 $0
Inventory
Change in
Accounts $449 $225 $0 $12 $18 $1 $16 $9 $0 ($4) $4 $2
Payable
Change in
Income Tax $6,265 $6,886 ($12,265) ($13,132) $6,935 $6,927 ($13,812) $6,962 $6,965 ($13,929) $6,971 $6,971
Payable
Change in
Sales Tax ($7,752) $3,804 $3,807 ($7,593) $3,844 $3,835 ($7,638) $3,864 $3,866 ($7,736) $3,867 $3,865
Payable
Change in
Prepaid
Revenue
Net Cash
Flow from $35,785 $50,821 $31,469 $19,334 $51,053 $51,099 $19,022 $51,469 $51,478 $18,957 $51,486 $51,533
Operations
Investing &
Financing
Assets
Purchased or $3,000
Sold
Investments
Received
Change in
Long-Term ($2,560) ($2,573) ($2,586) ($2,599) ($2,612) ($2,625) ($2,638) ($2,651) ($2,664) ($2,678) ($2,691) ($2,704)
Debt
Change in
Short-Term $149 $149 $150 $151 $152 $152 $153 $154 $155 $156 $156 $157
Debt
Dividends &
Distributions
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Garrett's Bike Shop - QB 29
Net Cash
Flow from
$589 ($2,423) ($2,436) ($2,448) ($2,460) ($2,472) ($2,485) ($2,497) ($2,509) ($2,522) ($2,535) ($2,547)
Investing &
Financing
Cash at
Beginning of $493,984 $530,358 $578,756 $607,789 $624,676 $673,269 $721,896 $738,433 $787,405 $836,374 $852,809 $901,760
Period
Net Change in
$36,374 $48,397 $29,033 $16,887 $48,593 $48,627 $16,537 $48,972 $48,969 $16,435 $48,951 $48,985
Cash
Cash at End
$530,358 $578,756 $607,789 $624,676 $673,269 $721,896 $738,433 $787,405 $836,374 $852,809 $901,760 $950,745
of Period
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Garrett's Bike Shop - QB 30
Investments Received
Net Cash Flow from Investing & Financing $88,550 ($28,017) ($26,745)
Cash at Beginning of Period $25,000 $140,078 $493,984
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Garrett's Bike Shop - QB 31
As of
Starting
Period's Oct '15 Nov '15 Dec '15 Jan '16 Feb '16 Mar '16 Apr '16 May '16 Jun '16 Jul '16 Aug '16 Sep '16
Balances
End
Cash $25,000 ($128,847) ($171,251) ($199,544) ($177,299) ($146,370) ($83,399) ($79,359) ($45,231) ($7,203) $8,469 $67,197 $140,078
Accounts
$15,000 $33,484 $38,717 $46,105 $50,047 $51,385 $55,656 $38,680 $43,877 $42,458 $48,122 $55,031 $61,692
Receivable
Inventory $0 $442,249 $463,607 $463,351 $459,516 $454,363 $444,954 $453,001 $455,629 $459,115 $456,904 $448,986 $435,427
Other Current
Assets
Total
Current $40,000 $346,887 $331,074 $309,912 $332,264 $359,378 $417,211 $412,322 $454,275 $494,370 $513,494 $571,214 $637,198
Assets
Long-Term
$61,500 $71,500 $71,500 $71,500 $71,500 $96,500 $96,500 $96,500 $96,500 $96,500 $96,500 $96,500 $97,700
Assets
Accumulated
($1,144) ($2,288) ($3,432) ($4,576) ($5,859) ($7,142) ($8,425) ($9,708) ($10,991) ($12,274) ($13,557) ($14,860)
Depreciation
Total Long-
Term $61,500 $70,356 $69,212 $68,068 $66,924 $90,641 $89,358 $88,075 $86,792 $85,509 $84,226 $82,943 $82,840
Assets
Total
$101,500 $417,243 $400,286 $377,980 $399,188 $450,019 $506,569 $500,397 $541,067 $579,879 $597,721 $654,157 $720,038
Assets
Accounts
$10,000 $147,841 $97,451 $31,726 $30,389 $30,768 $31,322 $29,653 $29,280 $29,398 $29,943 $31,370 $32,691
Payable
Income Taxes
$3,902 $8,677 $14,780 $6,839 $13,898 $21,671 $4,988 $10,812 $16,276 $6,403 $14,016 $22,909
Payable
Sales Taxes
$2,891 $6,636 $11,533 $5,433 $11,009 $17,375 $3,497 $7,926 $12,422 $5,549 $12,049 $19,586
Payable
Short-Term
$26,521 $26,654 $26,787 $26,921 $27,056 $27,191 $27,327 $27,464 $27,601 $27,739 $27,878 $28,017
Debt
Prepaid
Revenue
Total
Current $10,000 $181,155 $139,418 $84,826 $69,583 $82,731 $97,559 $65,465 $75,482 $85,697 $69,634 $85,313 $103,203
Liabilities
Long-Term
$123,479 $121,196 $118,902 $116,596 $114,279 $111,951 $109,611 $107,259 $104,895 $102,519 $100,132 $97,733
Debt
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Garrett's Bike Shop - QB 32
Total
$10,000 $304,634 $260,614 $203,728 $186,179 $197,010 $209,510 $175,075 $182,741 $190,592 $172,154 $185,445 $200,936
Liabilities
Paid-in Capital $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700
Retained
$40,800 $39,800 $39,800 $39,800 $39,800 $39,800 $39,800 $39,800 $39,800 $39,800 $39,800 $39,800 $39,800
Earnings
Earnings $22,109 $49,172 $83,752 $122,508 $162,508 $206,559 $234,821 $267,826 $298,788 $335,067 $378,212 $428,602
Total
Owner's $91,500 $112,609 $139,672 $174,252 $213,008 $253,008 $297,059 $325,321 $358,326 $389,288 $425,567 $468,712 $519,102
Equity
Total
Liabilities & $101,500 $417,243 $400,286 $377,980 $399,188 $450,019 $506,569 $500,397 $541,067 $579,879 $597,721 $654,157 $720,038
Equity
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Garrett's Bike Shop - QB 33
FY2017 Oct '16 Nov '16 Dec '16 Jan '17 Feb '17 Mar '17 Apr '17 May '17 Jun '17 Jul '17 Aug '17 Sep '17
Cash $177,364 $218,798 $234,802 $243,774 $281,237 $318,640 $326,716 $364,036 $402,988 $413,454 $453,714 $493,984
Accounts
$45,737 $45,737 $45,737 $45,737 $45,737 $45,737 $45,737 $45,737 $46,977 $47,025 $47,121 $47,049
Receivable
Inventory $436,634 $437,779 $443,763 $449,740 $455,735 $461,813 $467,989 $474,125 $479,324 $484,482 $489,560 $494,666
Other Current
Assets
Total
Current $659,736 $702,314 $724,302 $739,251 $782,708 $826,191 $840,442 $883,898 $929,290 $944,961 $990,395 $1,035,699
Assets
Long-Term
$97,700 $97,700 $97,700 $97,700 $97,700 $97,700 $97,700 $97,700 $97,700 $97,700 $97,700 $97,700
Assets
Accumulated
($16,163) ($17,466) ($18,768) ($20,071) ($21,374) ($22,677) ($23,980) ($25,283) ($26,586) ($27,889) ($29,192) ($30,495)
Depreciation
Total Long-
$81,537 $80,234 $78,932 $77,629 $76,326 $75,023 $73,720 $72,417 $71,114 $69,811 $68,508 $67,205
Term Assets
Total Assets $741,273 $782,549 $803,233 $816,880 $859,034 $901,213 $914,162 $956,314 $1,000,404 $1,014,772 $1,058,903 $1,102,904
Accounts
$31,360 $30,485 $31,927 $32,651 $32,655 $32,683 $32,725 $32,727 $32,904 $33,001 $33,016 $33,003
Payable
Income Taxes
$29,029 $35,151 $18,366 $6,125 $12,252 $18,381 $6,130 $12,262 $18,628 $6,377 $12,773 $19,157
Payable
Sales Taxes
$3,621 $7,242 $10,863 $3,621 $7,241 $10,862 $3,621 $7,242 $11,080 $3,845 $7,708 $11,557
Payable
Short-Term
$28,157 $28,298 $28,440 $28,582 $28,725 $28,868 $29,013 $29,158 $29,303 $29,450 $29,597 $29,745
Debt
Prepaid
Revenue
Total
Current $92,168 $101,176 $89,596 $70,979 $80,873 $90,795 $71,489 $81,389 $91,916 $72,673 $83,094 $93,462
Liabilities
Long-Term Debt $95,321 $92,898 $90,462 $88,015 $85,555 $83,083 $80,598 $78,101 $75,591 $73,069 $70,535 $67,987
Total
$187,489 $194,074 $180,058 $158,994 $166,428 $173,877 $152,087 $159,490 $167,507 $145,742 $153,629 $161,450
Liabilities
Paid-in Capital $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700
Retained
$468,402 $468,402 $468,402 $468,402 $468,402 $468,402 $468,402 $468,402 $468,402 $468,402 $468,402 $468,402
Earnings
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Garrett's Bike Shop - QB 34
Earnings $34,682 $69,373 $104,073 $138,784 $173,504 $208,234 $242,973 $277,722 $313,794 $349,927 $386,172 $422,352
Total
Owner's $553,784 $588,475 $623,175 $657,886 $692,606 $727,336 $762,075 $796,824 $832,896 $869,029 $905,274 $941,454
Equity
Total
Liabilities & $741,273 $782,549 $803,233 $816,880 $859,034 $901,213 $914,162 $956,314 $1,000,404 $1,014,772 $1,058,903 $1,102,904
Equity
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Garrett's Bike Shop - QB 35
FY2018 Oct '17 Nov '17 Dec '17 Jan '18 Feb '18 Mar '18 Apr '18 May '18 Jun '18 Jul '18 Aug '18 Sep '18
Cash $530,358 $578,756 $607,789 $624,676 $673,269 $721,896 $738,433 $787,405 $836,374 $852,809 $901,760 $950,745
Accounts
$50,741 $50,733 $50,753 $50,849 $50,961 $50,913 $51,081 $51,081 $51,086 $51,046 $51,097 $51,086
Receivable
Inventory $494,977 $495,285 $495,575 $495,782 $495,891 $496,041 $496,044 $496,048 $496,048 $496,083 $496,073 $496,073
Other Current
Assets
Total
Current $1,076,075 $1,124,773 $1,154,116 $1,171,306 $1,220,121 $1,268,850 $1,285,559 $1,334,534 $1,383,508 $1,399,937 $1,448,929 $1,497,903
Assets
Long-Term
$87,700 $87,700 $87,700 $87,700 $87,700 $87,700 $87,700 $87,700 $87,700 $87,700 $87,700 $87,700
Assets
Accumulated
($28,822) ($30,006) ($31,189) ($32,373) ($33,557) ($34,741) ($35,925) ($37,109) ($38,293) ($39,477) ($40,661) ($41,844)
Depreciation
Total Long-
$58,878 $57,694 $56,511 $55,327 $54,143 $52,959 $51,775 $50,591 $49,407 $48,223 $47,039 $45,856
Term Assets
Total Assets $1,134,954 $1,182,467 $1,210,627 $1,226,632 $1,274,263 $1,321,809 $1,337,334 $1,385,125 $1,432,915 $1,448,160 $1,495,969 $1,543,758
Accounts
$33,452 $33,678 $33,678 $33,690 $33,708 $33,709 $33,725 $33,734 $33,735 $33,731 $33,734 $33,736
Payable
Income Taxes
$25,422 $32,308 $20,043 $6,911 $13,846 $20,773 $6,961 $13,923 $20,888 $6,959 $13,930 $20,901
Payable
Sales Taxes
$3,805 $7,609 $11,416 $3,823 $7,667 $11,502 $3,864 $7,728 $11,594 $3,858 $7,725 $11,590
Payable
Short-Term
$29,894 $30,043 $30,194 $30,345 $30,496 $30,649 $30,802 $30,956 $31,111 $31,266 $31,423 $31,580
Debt
Prepaid
Revenue
Total
Current $92,573 $103,638 $95,330 $74,768 $85,717 $96,632 $75,352 $86,341 $97,328 $75,814 $86,812 $97,806
Liabilities
Long-Term Debt $65,427 $62,855 $60,269 $57,670 $55,058 $52,434 $49,796 $47,145 $44,481 $41,803 $39,112 $36,408
Total
$158,001 $166,492 $155,599 $132,438 $140,776 $149,066 $125,148 $133,486 $141,808 $117,617 $125,924 $134,214
Liabilities
Paid-in Capital $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700 $50,700
Retained
$890,754 $890,754 $890,754 $890,754 $890,754 $890,754 $890,754 $890,754 $890,754 $890,754 $890,754 $890,754
Earnings
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Garrett's Bike Shop - QB 36
Earnings $35,499 $74,521 $113,574 $152,740 $192,034 $231,289 $270,732 $310,185 $349,653 $389,089 $428,591 $468,090
Total
Owner's $976,953 $1,015,975 $1,055,028 $1,094,194 $1,133,488 $1,172,743 $1,212,186 $1,251,639 $1,291,107 $1,330,543 $1,370,045 $1,409,544
Equity
Total
Liabilities & $1,134,954 $1,182,467 $1,210,627 $1,226,632 $1,274,263 $1,321,809 $1,337,334 $1,385,125 $1,432,915 $1,448,160 $1,495,969 $1,543,758
Equity
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Garrett's Bike Shop - QB 37
Prepaid Revenue
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