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Howard Lefkowitz 6177 NW 50th Street Coral Springs, FL 33067 Daytime - (800) 226-8892, ext. 13 (Howard) Evening - (954) 753-7185
This sample business plan has been made available to users of Business Plan Pro, business planning software published by Palo Alto Software. Names, locations and numbers may have been changed, and substantial portions of text may have been omitted from the original plans to preserve confidentiality and proprietary information. You are welcome to use this plan as a starting point to create your own, but you do not have permission to reproduce, publish, distribute or even copy this plan as it exists here. Requests for reprints, academic use, and other dissemination of this sample plan should be emailed to the marketing department of Palo Alto Software at marketing@paloalto.com. For product information visit our Website: www.paloalto.com or call: 1-800-229-7526. Copyright Palo Alto Software, Inc., 1995-2002
Confidentiality Agreement
The undersigned reader acknowledges that the information provided by _______________ in this business plan is confidential; therefore, reader agrees not to disclose it without the express written permission of _______________. It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious harm or damage to _______________. Upon request, this document is to be immediately returned to _______________. ___________________ Signature ___________________ Name (typed or printed) ___________________ Date This is a business plan. It does not imply an offering of securities.
Table of Contents
1.0 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1.1 Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 1.2 Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Company Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.1 Start-up Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Market Analysis Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1 Market Segmentation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1.1 Runners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1.2 Non-runners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 Target Market Segment Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3 Industry Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3.1 Competition and Buying Patterns . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Strategy and Implementation Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.1 Competitive Edge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.2 Sales Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.2.1 Sales Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 6 8 9 10 11 11 12 13 13 14
5.0
6.0 7.0
Management Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 6.1 Personnel Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Financial Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.1 Important Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.2 Break-even Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.3 Projected Profit and Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.4 Projected Cash Flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.5 Projected Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.6 Business Ratios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 17 18 19 20 22 23
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Highlights (Planned)
$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 2001 2002 2003
1.1 Objectives
The primary objectives of the business plan for The Athlete's Foot are outlined below. 1. To make The Athlete's Foot the headquarters for athletic footwear by offering knowledgeable and professional customer service. Customer service will be measured through repeat business (our goal is that 50% of our customers will return within 6 months for an additional purchase) and multiple sales (our goal is that 30% of our nonrunning and 60% of our running shoe sales are accompanied by an additional purchase). 2. To be an active participant and supporter of the Coral Springs Athletic Community and to develop a youth and adult running club to promote a healthy lifestyle through exercise. Our goal is to have 150 running club members by the end of the 18th month of club operation. 3. To achieve a 33% increase in sales year two and maintain a minimum annual increase of 15% thereafter.
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Start-up
$200,000 $180,000 $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 Expenses Assets Investment Loans
3.0 Products
The Athlete's Foot will sell the latest and most popular name brand athletic footwear for the family. Consumers will be educated as to the proper size, style, fit, and design needed for their particular use and foot characteristics. We will offer athletic footwear and accessories for almost every sport and active use. We do not intend to initially sell golf shoes or skates. The shoes are purchased from the top manufacturers in the world, made possible through The Athlete's Foot Corporation's 700-store buying power. Names such as Nike, Adidas, Puma, Converse, New Balance, Asics, Saucony and Brooks are just a few of the styles we will be stocking. Inventory is tracked through our online cash register and computerized tracking system. Each day we are aware of the style, size, and quantity of every item sold in the store. Re-orders are drop shipped by the manufacturers, or can be rush ordered directly form The Athlete's Foot warehouse, if needed. The opening order will be placed through The Athlete's Foot Corporate Warehouse, with their assistance as to styles and size runs. We will also be working with several other franchisees who have family footwear and specialized running stores for their input into our merchandise assortment. Over the first year, we will eventually place orders directly with the manufacturers, always having The Athlete's Foot as backup for stock if required, due to a run on a popular shoe.
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Infant / Pre-School, less than 5 yrs. Youth, ages 5 - 19 Active Adults, ages 20 - 54
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Table: Sales Forecast (Planned) Sales Forecast Sales Footwear Sales Accessories / Apparel Total Sales Direct Cost of Sales Footwear Sales Accessories / Apparel Subtotal Direct Cost of Sales
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Table: General Assumptions General Assumptions Short-term Interest Rate % Long-term Interest Rate % Tax Rate % Expenses in Cash % Personnel Burden % 2001 9.00% 10.00% 14.58% 10.00% 10.00% 2002 9.00% 10.00% 25.00% 10.00% 10.00% 2003 9.00% 10.00% 14.58% 10.00% 10.00%
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Break-even Analysis
$4,000 $3,000 $2,000 $1,000 $0 ($1,000) ($2,000) ($3,000) ($4,000) $0 $2,700 $5,400 $8,100 $10,800 $13,500
Table: Break-even Analysis Break-even Analysis: Monthly Units Break-even Monthly Sales Break-even Assumptions: Average Per-Unit Revenue Average Per-Unit Variable Cost Estimated Monthly Fixed Cost
162 $7,278
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Table: Profit and Loss (Planned) Pro Forma Profit and Loss Sales Direct Cost of Sales Other Total Cost of Sales Gross Margin Gross Margin % Operating Expenses: Supplies / Postage Bank Card Charges Utilities Bad Debt Travel Miscellaneous Advertising/Promotion - Local National Advertising (1%) Payroll Expense Payroll Burden Depreciation Royalties (5%) Insurance Rent CAM / Insur. & R.E. Tax Telephone Repair / Maintenance Professional Fees, (Legal / Accounting) Total Operating Expenses Profit Before Interest and Taxes Interest Expense Short-term Interest Expense Long-term Taxes Incurred Extraordinary Items Net Profit Net Profit/Sales 2001 $450,000 $247,500 $9,000 -----------$256,500 $193,500 43.00% $2,474 $6,750 $3,600 $4,503 $1,500 $0 $9,000 $4,500 $59,168 $5,917 $0 $22,500 $5,850 $27,200 $8,500 $2,000 $800 $1,000 -----------$165,262 $28,238 $1,581 $13,700 $4,590 $0 $8,368 1.86% 2002 $600,000 $330,000 $12,000 -----------$342,000 $258,000 43.00% $3,300 $9,000 $3,600 $6,000 $1,500 $0 $12,000 $6,000 $67,500 $6,750 $0 $30,000 $7,800 $27,200 $8,500 $2,000 $800 $1,000 -----------$192,950 $65,050 $1,193 $11,400 $13,114 $0 $39,343 6.56% 2003 $700,000 $385,000 $14,000 -----------$399,000 $301,000 43.00% $3,850 $10,500 $3,600 $7,000 $1,500 $0 $14,000 $7,000 $75,425 $7,543 $0 $35,000 $9,100 $27,200 $8,500 $2,000 $800 $1,000 -----------$214,018 $86,983 $788 $9,000 $11,258 $0 $65,937 9.42%
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Cash (Planned)
$80,000 $60,000 $40,000 $20,000
Cash Flow
$0 ($20,000) ($40,000) ($60,000) Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Cash Balance
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$450,000 $0 $450,000
$600,000 $0 $600,000
$700,000 $0 $700,000
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0.00% 36.36% 0.53% 62.97% 37.03% 100.00% 0.00% 22.57% 66.66% 89.23% 10.77%
0.00% 43.41% 0.47% 66.84% 33.16% 100.00% 0.00% 23.40% 48.32% 71.72% 28.28%
0.00% 42.29% 0.40% 72.32% 27.68% 100.00% 0.00% 19.46% 30.85% 50.31% 49.69%
8.60% 46.40% 25.30% 80.30% 19.70% 100.00% 38.40% 29.80% 14.50% 52.90% 47.10%
100.00% 43.00% 41.14% 0.55% 6.28% 2.79 1.18 89.23% 213.66% 23.02% 2000 $75,000
100.00% 43.00% 36.44% 0.55% 10.84% 2.86 1.00 71.72% 130.03% 36.78% 2001 $85,714
100.00% 43.00% 33.58% 0.55% 12.43% 3.72 1.54 50.31% 77.02% 38.27% 2002 $100,000
100.00% 45.70% 28.60% 2.60% 0.70% 2.28 0.63 52.90% 1.50% 3.20% Industry $0 0.00%
n.a n.a
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Appendix
Appendix Table: Sales Forecast (Planned) Sales Forecast Sales Footwear Sales Accessories / Apparel Total Sales Direct Cost of Sales Footwear Sales Accessories / Apparel Subtotal Direct Cost of Sales
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Appendix
Appendix Table: Personnel (Planned) Personnel Plan Jane Lefkowitz, Owner / Mgr. / $18.K / Yr. Assistant Store Manager / $18K / Yr. Key Assoc. / $8.00 hr. - 40 hrs. Part Time Assoc. "A" - $6.00 / Hr.- 12 hrs Part Time Assoc. "B" - $6.00 / Hr. - 8 hrs. Part Time Assoc. "C" - $6.00 / Hr. - 8 hrs. Total Payroll Total Headcount Payroll Burden Total Payroll Expenditures Jul $1,500 $1,500 $1,024 $288 $192 $192 $4,696 6 $470 $5,166 Aug $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 Sep $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 Oct $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 Nov $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 Dec $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 Jan $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 Feb $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 Mar $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 Apr $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 May $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447 Jun $1,500 $1,500 $1,280 $288 $192 $192 $4,952 6 $495 $5,447
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Appendix
Appendix Table: General Assumptions General Assumptions Short-term Interest Rate % Long-term Interest Rate % Tax Rate % Expenses in Cash % Personnel Burden % Jul 9.00% 10.00% 25.00% 10.00% 10.00% Aug 9.00% 10.00% 25.00% 10.00% 10.00% Sep 9.00% 10.00% 0.00% 10.00% 10.00% Oct 9.00% 10.00% 0.00% 10.00% 10.00% Nov 9.00% 10.00% 0.00% 10.00% 10.00% Dec 9.00% 10.00% 25.00% 10.00% 10.00% Jan 9.00% 10.00% 0.00% 10.00% 10.00% Feb 9.00% 10.00% 0.00% 10.00% 10.00% Mar 9.00% 10.00% 25.00% 10.00% 10.00% Apr 9.00% 10.00% 25.00% 10.00% 10.00% May 9.00% 10.00% 25.00% 10.00% 10.00% Jun 9.00% 10.00% 25.00% 10.00% 10.00%
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Appendix
Appendix Table: Profit and Loss (Planned) Pro Forma Profit and Loss Sales Direct Cost of Sales Other Total Cost of Sales Gross Margin Gross Margin % Operating Expenses: Supplies / Postage Bank Card Charges Utilities Bad Debt Travel Miscellaneous Advertising/Promotion - Local National Advertising (1%) Payroll Expense Payroll Burden Depreciation Royalties (5%) Insurance Rent CAM / Insur. & R.E. Tax Telephone Repair / Maintenance Professional Fees, (Legal / Accounting) Total Operating Expenses Profit Before Interest and Taxes Interest Expense Short-term Interest Expense Long-term Taxes Incurred Extraordinary Items Net Profit Net Profit/Sales Jul $39,600 $21,780 $792 -----------$22,572 $17,028 43.00% $217 $594 $300 $396 $125 $0 $792 $396 $4,696 $470 $0 $1,980 $515 $2,267 $708 $167 $67 $83 -----------$13,772 $3,256 $147 $1,233 $469 $0 $1,406 3.55% Aug $52,650 $28,958 $1,053 -----------$30,011 $22,640 43.00% $290 $790 $300 $527 $125 $0 $1,053 $527 $4,952 $495 $0 $2,633 $684 $2,267 $708 $167 $67 $83 -----------$15,667 $6,973 $144 $1,217 $1,403 $0 $4,209 7.99% Sep $27,000 $14,850 $540 -----------$15,390 $11,610 43.00% $149 $405 $300 $270 $125 $0 $540 $270 $4,952 $495 $0 $1,350 $351 $2,267 $708 $167 $67 $83 -----------$12,498 ($888) $142 $1,200 $0 $0 ($2,230) -8.26% Oct $28,350 $15,593 $567 -----------$16,160 $12,190 43.00% $156 $425 $300 $284 $125 $0 $567 $284 $4,952 $495 $0 $1,418 $369 $2,267 $708 $167 $67 $83 -----------$12,666 ($475) $139 $1,183 $0 $0 ($1,797) -6.34% Nov $32,850 $18,068 $657 -----------$18,725 $14,126 43.00% $181 $493 $300 $329 $125 $0 $657 $329 $4,952 $495 $0 $1,643 $427 $2,267 $708 $167 $67 $83 -----------$13,221 $904 $136 $1,167 $0 $0 ($398) -1.21% Dec $53,100 $29,205 $1,062 -----------$30,267 $22,833 43.00% $292 $797 $300 $531 $125 $0 $1,062 $531 $4,952 $495 $0 $2,655 $690 $2,267 $708 $167 $67 $83 -----------$15,722 $7,111 $133 $1,150 $1,457 $0 $4,371 8.23% Jan $32,850 $18,068 $657 -----------$18,725 $14,126 43.00% $181 $493 $300 $329 $125 $0 $657 $329 $4,952 $495 $0 $1,643 $427 $2,267 $708 $167 $67 $83 -----------$13,221 $904 $130 $1,133 $0 $0 ($359) -1.09% Feb $31,950 $17,573 $639 -----------$18,212 $13,739 43.00% $176 $479 $300 $320 $125 $0 $639 $320 $4,952 $495 $0 $1,598 $415 $2,267 $708 $167 $67 $83 -----------$13,110 $628 $128 $1,117 $0 $0 ($616) -1.93% Mar $40,500 $22,275 $810 -----------$23,085 $17,415 43.00% $223 $608 $300 $405 $125 $0 $810 $405 $4,952 $495 $0 $2,025 $527 $2,267 $708 $167 $67 $83 -----------$14,166 $3,249 $125 $1,100 $506 $0 $1,519 3.75% Apr $38,700 $21,285 $774 -----------$22,059 $16,641 43.00% $213 $581 $300 $387 $125 $0 $774 $387 $4,952 $495 $0 $1,935 $503 $2,267 $708 $167 $67 $83 -----------$13,943 $2,698 $122 $1,083 $373 $0 $1,119 2.89% May $36,000 $19,800 $720 -----------$20,520 $15,480 43.00% $198 $540 $300 $360 $125 $0 $720 $360 $4,952 $495 $0 $1,800 $468 $2,267 $708 $167 $67 $83 -----------$13,610 $1,870 $119 $1,067 $171 $0 $513 1.43% Jun $36,450 $20,048 $729 -----------$20,777 $15,674 43.00% $200 $547 $300 $365 $125 $0 $729 $365 $4,952 $495 $0 $1,823 $474 $2,267 $708 $167 $67 $83 -----------$13,666 $2,008 $116 $1,050 $210 $0 $631 1.73%
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Appendix
Appendix Table: Cash Flow (Planned) Pro Forma Cash Flow Cash Received Cash from Operations: Cash Sales From Receivables Subtotal Cash from Operations Additional Cash Received Extraordinary Items Sales Tax, VAT, HST/GST Received New Current Borrowing New Other Liabilities (interest-free) New Long-term Liabilities Sales of other Short-term Assets Sales of Long-term Assets Capital Input Subtotal Cash Received Expenditures Expenditures from Operations: Cash Spent on Costs and Expenses Wages, Salaries, Payroll Taxes, etc. Payment of Accounts Payable Subtotal Spent on Operations Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Long-term Liabilities Principal Repayment Purchase Other Short-term Assets Purchase Long-term Assets Dividends Adjustment for Assets Purchased on Credit Subtotal Cash Spent Net Cash Flow Cash Balance Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$39,600 $0 $39,600
$52,650 $0 $52,650
$27,000 $0 $27,000
$28,350 $0 $28,350
$32,850 $0 $32,850
$53,100 $0 $53,100
$32,850 $0 $32,850
$31,950 $0 $31,950
$40,500 $0 $40,500
$38,700 $0 $38,700
$36,000 $0 $36,000
$36,450 $0 $36,450
0.00%
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Appendix
Appendix Table: Balance Sheet (Planned) Pro Forma Balance Sheet Assets Short-term Assets Cash Inventory Other Short-term Assets Total Short-term Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Accounts Payable Current Borrowing Other Short-term Liabilities Subtotal Short-term Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth $2,000 $20,000 $0 $22,000 $150,000 $172,000 $70,000 ($58,000) $0 $12,000 $184,000 $12,000 Jul $19,751 $19,625 $0 $39,376 $148,000 $187,376 $70,000 ($58,000) $1,406 $13,406 $200,782 $13,406 Aug $58,814 $19,250 $0 $78,064 $146,000 $224,064 $70,000 ($58,000) $5,615 $17,615 $241,679 $17,615 Sep $7,771 $18,875 $0 $26,646 $144,000 $170,646 $70,000 ($58,000) $3,385 $15,385 $186,032 $15,385 Oct $7,924 $18,500 $0 $26,424 $142,000 $168,424 $70,000 ($58,000) $1,588 $13,588 $182,012 $13,588 Nov $18,189 $18,125 $0 $36,314 $140,000 $176,314 $70,000 ($58,000) $1,190 $13,190 $189,503 $13,190 Dec $70,877 $17,750 $0 $88,627 $138,000 $226,627 $70,000 ($58,000) $5,561 $17,561 $244,187 $17,561 Jan $8,434 $17,375 $0 $25,809 $136,000 $161,809 $70,000 ($58,000) $5,201 $17,201 $179,011 $17,201 Feb $8,305 $17,000 $0 $25,305 $134,000 $159,305 $70,000 ($58,000) $4,585 $16,585 $175,891 $16,585 Mar $39,510 $16,625 $0 $56,135 $132,000 $188,135 $70,000 ($58,000) $6,104 $18,104 $206,239 $18,104 Apr $25,003 $16,250 $0 $41,253 $130,000 $171,253 $70,000 ($58,000) $7,223 $19,223 $190,476 $19,223 May $21,705 $15,875 $0 $37,580 $128,000 $165,580 $70,000 ($58,000) $7,737 $19,737 $185,316 $19,737 Jun $27,162 $15,500 $0 $42,662 $126,000 $168,662 $70,000 ($58,000) $8,368 $20,368 $189,029 $20,368
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