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This sample business plan has been made available to users of Business Plan Pro", business planning software published by Palo Alto Software. Names, loc ations and numbers may have been c hanged, and substantial portions of text may have been omitted from the original plan 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, ac ademic 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., 1995-2008
Confidentiality Agreement The undersigned reader ac knowledges that the information provided by _________________________ in this business plan is confidential; therefore, reader agrees not to disc lose it without the express written permission of _________________________. It is ac knowledged by reader that information to be furnished in this business plan is in all respec ts confidential in nature, other than information which is in the public domain through other means and that any disc losure 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 ...................................................................................................................................1 1.2 Mission........................................................................................................................................2 1.3 Keys to Success ........................................................................................................................2 2.0 Company Summary.............................................................................................................................2 2.1 Company Ownership .................................................................................................................2 2.2 Company History........................................................................................................................3 2.3 Company Locations and Facilities ..........................................................................................4 3.0 Products ...............................................................................................................................................5 3.1 Product Description...................................................................................................................5 3.2 Competitive Comparison..........................................................................................................5 3.3 Sales Literature ..........................................................................................................................5 3.4 Sourcing ......................................................................................................................................6 3.5 Technology..................................................................................................................................6 3.6 Future Products ..........................................................................................................................6 4.0 Market Analysis Summary..................................................................................................................6 4.1 Market Segmentation ................................................................................................................7 4.2 Industry Analysis .........................................................................................................................8 4.2.1 Distribution Patterns ...............................................................................................................8 4.2.2 Competition and Buying Patterns .........................................................................................8 4.2.3 Main Competitors ...................................................................................................................9 4.2.4 Industry Participants ...............................................................................................................9 4.3 Target Market Segment Strategy...........................................................................................10 4.3.1 Market Needs .......................................................................................................................10 4.3.2 Market Trends .......................................................................................................................10 4.3.3 Market Growth.......................................................................................................................10 5.0 Strategy and Implementation Summary..........................................................................................11 5.1 Strategy Pyramid .....................................................................................................................11 5.2 Value Proposition ....................................................................................................................11 5.3 Competitive Edge....................................................................................................................11 5.4 Marketing Strategy ..................................................................................................................12 5.4.1 Pricing Strategy ....................................................................................................................12 5.4.2 Promotion Strategy ..............................................................................................................12 5.4.3 Distribution Strategy.............................................................................................................12 5.4.4 Positioning Statement..........................................................................................................12 5.5 Sales Strategy..........................................................................................................................13 5.5.1 Sales Programs....................................................................................................................13 5.5.2 Sales Forecast .....................................................................................................................14 5.6 Milestones ................................................................................................................................16 6.0 Management Summary ....................................................................................................................17 6.1 Organizational Structure..........................................................................................................17 6.2 Management Team .................................................................................................................18 6.3 Management Team Gaps .......................................................................................................18 6.4 Personnel Plan.........................................................................................................................18 7.0 Financial Plan ....................................................................................................................................20 7.1 Important Assumptions............................................................................................................20 7.2 Key Financial Indicators ..........................................................................................................21
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Table of Contents
7.3 Break-even Analysis................................................................................................................22 7.4 Projected Profit and Loss .......................................................................................................23 7.5 Projected Cash Flow ...............................................................................................................27 7.6 Projected Balance Sheet ........................................................................................................29 7.7 Business Ratios .......................................................................................................................30
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1.1 Objectives
1. Foc us on the new channels to increase sales beyond the $1 million mark by 2000. 2. Maintain a gross margin c lose to 60%, despite the sales increase. 3. Increase the net profit significantly by 2000.
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$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0
$0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
0 $0 0.00
0 $0 0.00
35 $140,434 5.09
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3.5 Technology
We depend on our dominance of the latest in technology of ergonomics, combined with c lassic design elements of fine furniture. We must remain on top of new tec hnologies in display, input and output, and communications. For example, our latest models are already assuming the desktop digital sc anner as a frequent ac cessory, and audio for use in c reating presentations, email attac hments, etc. Our assembly patents are an important competitive edge. No competitor can match the way we turn a drawbac k -- having to assemble the product -- into a feature. Our customer surveys confirm that customers take the interloc king assembly system as an enhancement to the sense of quality.
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$334,400 $54,250 $40,500 $7,000 $15,000 $451,150 1998 $400.00 $525.00 $180.00 $300.00 $625.00
$560,000 $52,500 $45,000 $10,000 $25,000 $692,500 1999 $400.00 $525.00 $180.00 $300.00 $625.00
$960,000 $48,000 $45,000 $10,000 $16,000 $1,079,000 2000 $400.00 $480.00 $180.00 $300.00 $400.00
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5.6 Milestones
The ac companying table shows specific milestones, with responsibilities assigned, dates, and (in most cases) budgets. We are foc using in this plan on a few key milestones that should be ac complished.
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$37,000 $0 $37,000
$65,000 $0 $65,000
$72,000 $0 $72,000
$48,000 $0 $48,000
$75,000 $0 $75,000
$100,000 $0 $100,000
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$3,000 $0 $0 $3,000 0.66% $176,100 $106,515 $107,515 $6,094 $25,009 $75,412 16.72%
$15,000 $0 $0 $15,000 2.17% $252,000 $186,500 $187,600 $5,875 $45,156 $135,469 19.56%
$25,000 $0 $0 $25,000 2.32% $303,800 $319,800 $321,000 $4,875 $78,731 $236,194 21.89%
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$16,671 $58,750 $1,803 $77,224 $0 $77,224 $54,500 $25,555 $75,412 $155,467 $232,691 $155,467
$26,902 $58,750 $1,803 $87,455 $0 $87,455 $54,500 $100,967 $135,469 $290,936 $378,391 $290,936
$38,616 $38,750 $1,803 $79,169 $0 $79,169 $54,500 $236,436 $236,194 $527,130 $606,299 $527,130
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33.09% 5.19% 1.02% 78.30% 21.70% 100.00% 33.19% 0.00% 33.19% 66.81%
31.24% 4.88% 0.63% 81.66% 18.34% 100.00% 23.11% 0.00% 23.11% 76.89%
30.37% 4.73% 0.39% 83.81% 16.19% 100.00% 13.06% 0.00% 13.06% 86.94%
23.80% 32.10% 19.00% 74.90% 25.10% 100.00% 38.40% 15.90% 54.30% 45.70%
n.a n.a
0.50 1.00
0.30 1.00
0.15 1.00
n.a n.a
$104,977 17.48
$221,546 31.74
$428,940 65.60
n.a n.a
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Appendix
Table: Sales Forecast
Sales Forecast Jan Unit Sales Executive desk oak Executive desk cherry Other furniture oak Other furniture cherry Other Total Unit Sales Unit Prices Executive desk oak Executive desk cherry Other furniture oak Other furniture cherry Other Sales Executive desk oak Executive desk cherry Other furniture oak Other furniture cherry Other Total Sales Direct Unit Costs Executive desk oak Executive desk cherry Other furniture oak Other furniture cherry Other Direct Cost of Sales Executive desk oak Executive desk cherry Other furniture oak Other furniture cherry Other Subtotal Direct Cost of Sales 15% 5% 5% 5% 20% 14 2 3 0 1 20 Jan $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Feb 16 3 4 1 0 24 Feb $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Mar 16 3 4 0 0 23 Mar $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Apr 16 3 4 0 1 24 Apr $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 May 15 2 3 0 1 21 May $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Jun 12 2 3 1 0 18 Jun $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Jul 12 2 3 0 1 18 Jul $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Aug 15 2 4 1 0 22 Aug $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Sep 15 3 4 1 0 23 Sep $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Oct 26 4 4 1 1 36 Oct $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Nov 27 3 5 1 1 37 Nov $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00 Dec 25 2 4 1 0 32 Dec $1,600.00 $1,750.00 $900.00 $1,000.00 $2,500.00
$22,400 $3,500 $2,700 $0 $2,500 $31,100 Jan $400.00 $525.00 $180.00 $300.00 $625.00
$25,600 $5,250 $3,600 $1,000 $0 $35,450 Feb $400.00 $525.00 $180.00 $300.00 $625.00
$25,600 $5,250 $3,600 $0 $0 $34,450 Mar $400.00 $525.00 $180.00 $300.00 $625.00
$25,600 $5,250 $3,600 $0 $2,500 $36,950 Apr $400.00 $525.00 $180.00 $300.00 $625.00
$24,000 $3,500 $2,700 $0 $2,500 $32,700 May $400.00 $525.00 $180.00 $300.00 $625.00
$19,200 $3,500 $2,700 $1,000 $0 $26,400 Jun $400.00 $525.00 $180.00 $300.00 $625.00
$19,200 $3,500 $2,700 $0 $2,500 $27,900 Jul $400.00 $525.00 $180.00 $300.00 $625.00
$24,000 $3,500 $3,600 $1,000 $0 $32,100 Aug $400.00 $525.00 $180.00 $300.00 $625.00
$24,000 $5,250 $3,600 $1,000 $0 $33,850 Sep $400.00 $525.00 $180.00 $300.00 $625.00
$41,600 $7,000 $3,600 $1,000 $2,500 $55,700 Oct $400.00 $525.00 $180.00 $300.00 $625.00
$43,200 $5,250 $4,500 $1,000 $2,500 $56,450 Nov $400.00 $525.00 $180.00 $300.00 $625.00
$40,000 $3,500 $3,600 $1,000 $0 $48,100 Dec $400.00 $525.00 $180.00 $300.00 $625.00
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Appendix
Table: Personnel
Personnel Plan Jan Production Personnel Workshop manager Assembly Name or Title or Group Subtotal Sales and Marketing Personnel Marketing manager Other Subtotal General and Administrative Personnel President Other Subtotal Other Personnel Design Other Subtotal Total People Total Payroll $250 $0 $250 0 $12,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $250 $0 $250 0 $11,550 $2,500 $1,800 $0 $4,300 Feb $2,500 $1,800 $0 $4,300 Mar $2,500 $1,800 $0 $4,300 Apr $2,500 $1,800 $0 $4,300 May $2,500 $1,800 $0 $4,300 Jun $2,500 $1,800 $0 $4,300 Jul $2,500 $1,800 $0 $4,300 Aug $2,500 $1,800 $0 $4,300 Sep $2,500 $1,800 $0 $4,300 Oct $2,500 $1,800 $0 $4,300 Nov $2,500 $1,800 $0 $4,300 Dec $2,500 $1,800 $0 $4,300
$4,000 $0 $4,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$3,000 $0 $3,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
$4,000 $0 $4,000
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Appendix
Table: Profit and Loss
Pro Forma Profit and Loss Sales Direct Cost of Sales Production Payroll Other Costs of Sales Total Cost of Sales Gross Margin Gross Margin % Operating Expenses Sales and Marketing Expenses Sales and Marketing Payroll Advertising/Promotion Miscellaneous Events Public Relations Travel Total Sales and Marketing Expenses Sales and Marketing % General and Administrative Expenses General and Administrative Payroll Marketing/Promotion Depreciation Leased Equipment Rent Utilities Insurance Payroll Taxes Other General and Administrative Expenses Total General and Administrative Expenses General and Administrative % Other Expenses: 15% Jan $31,100 $7,815 $4,300 $3,110 $15,225 $15,875 51.05% Feb $35,450 $8,995 $4,300 $0 $13,295 $22,155 62.50% Mar $34,450 $8,695 $4,300 $0 $12,995 $21,455 62.28% Apr $36,950 $9,320 $4,300 $0 $13,620 $23,330 63.14% May $32,700 $8,215 $4,300 $0 $12,515 $20,185 61.73% Jun $26,400 $6,690 $4,300 $0 $10,990 $15,410 58.37% Jul $27,900 $7,015 $4,300 $0 $11,315 $16,585 59.44% Aug $32,100 $8,070 $4,300 $0 $12,370 $19,730 61.46% Sep $33,850 $8,595 $4,300 $0 $12,895 $20,955 61.91% Oct $55,700 $14,145 $4,300 $0 $18,445 $37,255 66.89% Nov $56,450 $14,200 $4,300 $0 $18,500 $37,950 67.23% Dec $48,100 $12,070 $4,300 $0 $16,370 $31,730 65.97%
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Appendix
Other Payroll Consultants Other Expenses Total Other Expenses Other % Total Operating Expenses Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred Net Profit Net Profit/Sales $250 $0 $0 $250 0.80% $17,175 ($1,300) ($1,300) $625 ($578) ($1,348) -4.33% $250 $0 $0 $250 0.71% $17,675 $4,480 $4,480 $615 $966 $2,899 8.18% $250 $0 $0 $250 0.73% $8,175 $13,280 $13,280 $563 $3,179 $9,538 27.69% $250 $0 $0 $250 0.68% $16,175 $7,155 $7,155 $552 $1,651 $4,952 13.40% $250 $0 $0 $250 0.76% $21,675 ($1,490) ($1,490) $510 ($500) ($1,500) -4.59% $250 $0 $0 $250 0.95% $8,175 $7,235 $7,235 $469 $1,692 $5,075 19.22% $250 $0 $0 $250 0.90% $16,675 ($90) ($90) $417 ($127) ($380) -1.36% $250 $0 $0 $250 0.78% $16,175 $3,555 $3,555 $406 $787 $2,362 7.36% $250 $0 $0 $250 0.74% $8,175 $12,780 $12,780 $396 $3,096 $9,288 27.44% $250 $0 $0 $250 0.45% $18,675 $18,580 $18,580 $510 $4,517 $13,552 24.33% $250 $0 $0 $250 0.44% $17,675 $20,275 $20,275 $542 $4,933 $14,800 26.22% $250 $0 $0 $250 0.52% $9,675 $22,055 $23,055 $490 $5,391 $16,174 33.63%
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Appendix
Table: Cash Flow
Pro Forma Cash Flow Jan Cash Received Cash from Operations Cash Sales Cash from Receivables Subtotal Cash from Operations Additional Cash Received Sales Tax, VAT, HST/GST Received New Current Borrowing New Other Liabilities (interest-free) New Long-term Liabilities Sales of Other Current Assets Sales of Long-term Assets New Investment Received Subtotal Cash Received Expenditures Expenditures from Operations Cash Spending Bill Payments Subtotal Spent on Operations Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Long-term Liabilities Principal Repayment Purchase Other Current Assets Purchase Long-term Assets Dividends Subtotal Cash Spent Net Cash Flow Cash Balance $0 $0 $0 $0 $0 $0 $0 $24,327 $72,251 $73,689 $0 $6,250 $0 $0 $0 $25,000 $0 $60,525 ($7,083) $66,606 $0 $6,250 $0 $0 $0 $0 $0 $39,677 ($7,631) $58,975 $0 $6,250 $0 $0 $0 $0 $0 $31,129 $9,671 $68,647 $0 $5,000 $0 $0 $0 $0 $0 $37,639 ($3,564) $65,083 $0 $5,000 $0 $0 $0 $0 $0 $37,652 ($3,446) $61,637 $0 $6,250 $0 $0 $0 $0 $0 $26,344 $4,999 $66,636 $0 $6,250 $0 $0 $0 $0 $0 $34,928 ($2,065) $64,570 $0 $6,250 $0 $0 $0 $25,000 $0 $61,853 ($2,361) $62,210 $0 $6,250 $0 $0 $0 $0 $0 $32,091 $25,953 $88,163 $0 $6,250 $0 $0 $0 $0 $0 $53,748 ($3,702) $84,461 $0 $6,250 $0 $0 $0 $0 $0 $47,525 $6,294 $90,755 $12,550 $11,777 $24,327 $11,550 $17,725 $29,275 $11,550 $21,877 $33,427 $11,550 $13,329 $24,879 $11,550 $21,089 $32,639 $11,550 $21,102 $32,652 $11,550 $8,544 $20,094 $11,550 $17,128 $28,678 $11,550 $19,053 $30,603 $11,550 $14,291 $25,841 $11,550 $35,948 $47,498 $11,550 $29,725 $41,275 0.00% $0 $75,000 $0 $0 $0 $0 $0 $96,578 Jan $0 $5,000 $0 $0 $0 $0 $25,000 $53,443 Feb $0 $0 $0 $0 $0 $0 $0 $32,046 Mar $0 $5,000 $0 $0 $0 $0 $0 $40,800 Apr $0 $0 $0 $0 $0 $0 $0 $34,075 May $0 $0 $0 $0 $0 $0 $0 $34,206 Jun $0 $0 $0 $0 $0 $0 $0 $31,343 Jul $0 $5,000 $0 $0 $0 $0 $0 $32,863 Aug $0 $5,000 $0 $0 $0 $0 $25,000 $59,493 Sep $0 $20,000 $0 $0 $0 $0 $0 $58,044 Oct $0 $10,000 $0 $0 $0 $0 $0 $50,046 Nov $0 $0 $0 $0 $0 $0 $0 $53,819 Dec Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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Appendix
Table: Balance Sheet
Pro Forma Balance Sheet Jan Assets Current Assets Cash Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth Starting Balances Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$11,191 $0 $1,803 $12,994 $0 $12,994 $4,500 $13,100 $12,455 $30,055 $43,049 $30,055
$16,986 $75,000 $1,803 $93,789 $0 $93,789 $4,500 $25,555 ($1,348) $28,708 $122,496 $28,708
$21,442 $73,750 $1,803 $96,995 $0 $96,995 $29,500 $25,555 $1,552 $56,607 $153,601 $56,607
$12,626 $67,500 $1,803 $81,929 $0 $81,929 $29,500 $25,555 $11,090 $66,145 $148,074 $66,145
$20,370 $66,250 $1,803 $88,423 $0 $88,423 $29,500 $25,555 $16,042 $71,097 $159,520 $71,097
$20,827 $61,250 $1,803 $83,880 $0 $83,880 $29,500 $25,555 $14,542 $69,597 $153,477 $69,597
$7,975 $56,250 $1,803 $66,028 $0 $66,028 $29,500 $25,555 $19,616 $74,671 $140,700 $74,671
$16,487 $50,000 $1,803 $68,290 $0 $68,290 $29,500 $25,555 $19,236 $74,291 $142,581 $74,291
$18,602 $48,750 $1,803 $69,155 $0 $69,155 $29,500 $25,555 $21,598 $76,653 $145,808 $76,653
$13,086 $47,500 $1,803 $62,389 $0 $62,389 $54,500 $25,555 $30,886 $110,941 $173,330 $110,941
$34,943 $61,250 $1,803 $97,996 $0 $97,996 $54,500 $25,555 $44,438 $124,493 $222,489 $124,493
$29,150 $65,000 $1,803 $95,953 $0 $95,953 $54,500 $25,555 $59,238 $139,293 $235,246 $139,293
$16,671 $58,750 $1,803 $77,224 $0 $77,224 $54,500 $25,555 $75,412 $155,467 $232,691 $155,467
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