Business Plan for Design and Remodeling

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									This Business Plan for a Design and Remodeling company allows entrepreneurs or
business owners to create a comprehensive and professional business plan. This
template form allows a business to outline the company's objectives and detail both
current company information as well as any past performance. Companies should
include a complete market analysis in their plan to help showcase why their business
strategy will be effective in the market. Future company plans, including production
targets, management strategy, and financial forecasting, should be used to demonstrate
and confirm that the company's short-term and long-term objective can and will be met.
This model plan can be customized to best fit the unique needs of any entrepreneur or
owner that is seeking to create a strong business plan.
                                [INSERT IMAGE/LOGO]


                                COMPANY NAME
                                 Owner: OWNER’S NAME
                                       ADDRESS

                                  CITY, STATE ZIP CODE

                                          Tel.

                                         Fax:

                                        Email:




                                 BUSINESS PLAN




© Copyright 2012 Docstoc Inc.                            1
                                                        Confidentiality Agreement

The undersigned reader acknowledges that the information provided by COMPANY NAME in this business plan is confidential; therefore,
reader agrees not to disclose it without the express written permission of COMPANY NAME.

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 COMPANY NAME.

Upon request, this document is to be immediately returned to COMPANY NAME.




___________________
Signature

___________________
Name (typed or printed)

___________________
Date




                                    This is a business plan. It does not imply an offering of securities.




© Copyright 2012 Docstoc Inc.                                                                                     2
                                                                        Table of Contents



1.0 Executive Summary .................................................................................................................................. 1
   1.1 Objectives ........................................................................................................................................................ 2
   1.2 Mission ............................................................................................................................................................. 2
   1.3 Keys to Success ............................................................................................................................................... 2
2.0 Company Summary .................................................................................................................................. 2
   2.1 Company Ownership ........................................................................................................................................ 2
   2.2 Start-up Summary ............................................................................................................................................ 3
3.0 Services .................................................................................................................................................. 4
4.0 Market Analysis Summary ......................................................................................................................... 4
Table: Sales Forecast..................................................................................................................................... 1
Table: Profit and Loss ................................................................................................................................. 2
Table: Profit and Loss ................................................................................................................................. 2
Table: Cash Flow ........................................................................................................................................ 3
Table: Cash Flow ........................................................................................................................................ 3
Table: Balance Sheet................................................................................................................................... 5
Table: Balance Sheet................................................................................................................................... 5
   APPENDIX




                                                                                                                                                                   Page 1
                                2010 COMPANY NAME



1.0 Executive Summary

    COMPANY NAME is a start-up managed solely by OWNER’S NAME. OWNER’S NAME has extensive experience in
    the design industry and has maintained an excellent reputation in the Los Angeles community. In addition, OWNER’S NAME is highly
    educated and is capable of handling the sales/management and finance/administration areas, respectively.

    COMPANY NAME will be buying, retrofitting, and remodeling older apartment buildings (in southern California/Los Angeles county
    primarily) to be energy efficient in order to reduce the carbon footprint and to increase the quality of apartment living. In addition,
    COMPANY NAME will aid in increasing the property values of the neighborhoods through improving the energy efficiency, the look
    and grounds of the buildings. COMPANY NAME plans to install electric chargers in every parking space in the event that
    tenants own an electric car. The company's plan is to have the sun and other green resources power the electricity, heating of water
    and laundry facilities of the buildings. COMPANY NAME will implement professional landscaping and outdoor lighting design. All
    remodeling of the building, both inside and out, will be using only sustainable and non-toxic products using local companies and
    manufacturers as much as possible.

    COMPANY NAME also wants to use the "greywater" from the building to water the grounds instead of using fresh water. OWNER’S
    NAME intends for the company to do these projects in California as the requested grant funding will be coming from
    California. COMPANY NAME has future plans to expand operations into Central and Northern California in the future.

    The purpose of this plan is to attain grant funding in the amount of $1,000,000 to acquire an already occupied multi-family dwelling,
    renovations, landscaping design and installing green technology so that the apartment building can operate off of the power grid of
    Los Angeles, California independently.

    COMPANY NAME
    [INSERT CONTACT INFO]




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                             Page 1
                                 2010 COMPANY NAME


1.1 Objectives

    1.   To purchase, restore and retro-fit apartment and condominium buildings in Los Angeles County with green technology, such as
         solar energy panels and the like.
    2.   To actively participate in preserving original buildings from the 1920s-1970s in Los Angeles, California.
    3.   To be the example of green technology implementation in real estate in a major metropolitan area and further promote saving the
         environment.
    4.   To educate others about the advantages of green technology in multi-family dwellings.

1.2 Mission

    COMPANY NAME sole purpose is to establish a profitable and well managed company while at the same time creating an
    atmosphere of visual stimulation and relaxation for future tenants. In addition, implementing green technology into well designed
    original and restored properties to please the environmentally conscious residents will further establish COMPANY NAME as the
    company to go to for others what want to follow the company's footsteps for consulting on outside projects.

    The mission of COMPANY NAME is to collaborate with the owner's very large network of well skilled and educated designers,
    architects and builders in the Los Angeles area to make this project a successful reality with plenty of room to grow in the future to
    other parts of the State of California.

1.3 Keys to Success

    Keys to success for the company will include:

    1.   Maintaining a reputable and untarnished reputation in the community.
    2.   Quality work and care on the buildings acquired for restoration and retro-fitting.
    3.   Competitive pricing of rental units in the properties.
    4.   Passion, drive and honest work ethic.

2.0 Company Summary

    COMPANY NAME is a start-up managed solely by. OWNER’S NAME has extensive experience in the design industry and has
    maintained an excellent reputation in the Los Angeles community. In addition, OWNER’S NAME is highly educated and is capable of
    handling the sales/management and finance/administration areas, respectively.

2.1 Company Ownership

    The company, COMPANY NAME, is an S-Corporation run and operated by the owner, OWNER’S NAME. The company originated in
    July of 2010.

    OWNER’S NAME is the Owner and Manager of the company. OWNER’S NAME has an AA degree from Orange Coast College in
    Fine Art and a BA degree from University of California Irvine in Production Design and Technical Theater. She also has a Holistic
    Health Degree from the International Professional School of Bodywork in San Diego California. OWNER’S NAME grew up in Laguna
    Beach with parents that were very good at remodeling the family home. OWNER’S NAME has always loved architecture and has
    always seen how great older buildings could be improved. She has worked on designing and building numerous theatrical sets and
    has worked on film and television sets as well. OWNER’S NAME currently works as a full-time massage therapist at the #2 hotel in
    the world, the Peninsula Beverly Hills. She has a very strong work ethic and is very experienced at working collaboratively with
    others. OWNER’S NAME is very well connected in the design sector of the entertainment industry and already has everyone on
    board that she needs to do the first “green” apartment building project.

    OWNER’S NAME has a passion for saving great historical buildings in Los Angeles. OWNER’S NAME feels that Los Angeles is
    a truly a beautiful city and wants to help make it more beautiful. OWNER’S NAME is a problem solver, a 100% environment minded
    person and has always succeeded at what I’ve set out to do. OWNER’S NAME thinks outside of the box.


OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                            Page 2
                                   2010 COMPANY NAME


2.2 Start-up Summary

     Total start-up expense (including legal costs, solar panel installation, real estate acquisition and related expenses) comes to
     $394,500. Start-up assets required include short-term assets (computer equipment, office supplies, etc.) and $20,000 in initial cash to
     handle the first few months of consulting operations as building renovations, permits and licensing and green-technology retro-fitting
     of the buildings play through the cash flow. The details are included in Table 2-2.

Table: Start-up

Start-up

Requirements

Start-up Expenses
Legal                                                                                                                  $10,000
Insurance                                                                                                              $10,000
Real Estate Down Payment                                                                                              $160,000
Computer                                                                                                                $2,500
Solar Panel Installation/Retrofitting                                                                                  $72,000
Building Restoration/Renovation                                                                                       $120,000
Total Start-up Expenses                                                                                               $374,500

Start-up Assets
Cash Required                                                                                                          $20,000
Other Current Assets                                                                                                        $0
Long-term Assets                                                                                                            $0
Total Assets                                                                                                           $20,000

Total Requirements                                                                                                    $394,500




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                              Page 3
                                 2010 COMPANY NAME


3.0 Services

    COMPANY NAME will offer beautifully restored, renovated and environmentally beneficial apartments and condos for the residential
    rental market in Los Angeles County. In addition, COMPANY NAME will be aiding in preserving the history of Los Angeles by turning
    distressed original buildings from the 1920s-1970s into beautiful, elegant and energy efficient residences.

    To start, COMPANY NAME will be attaining real estate in Los Angeles County and has future plans to expand operations to include
    Orange County, Ventura County, Santa Barbara County and then San Francisco and surrounding Northern California counties.

4.0 Market Analysis Summary

    Los Angeles is the second largest city in the United States, the largest city in the state of California and the Western United States,
    with a population of 3.83 million within its administrative limits on a land area of 498.3 square miles (1,290.6 km2). The urban area of
    Los Angeles extends beyond the administrative city limits with a population of over 14.8 million; it is the 14th largest urban area in the
    world, affording it megacity status. The Los Angeles–Long Beach–Santa Ana metropolitan statistical area (MSA) is home to nearly
    12.9 million residents while the broader Los Angeles-Long Beach-Riverside combined statistical area (CSA) contains nearly 17.8
    million people. Los Angeles is also the seat of Los Angeles County, the most populated and one of the most multicultural counties in
    the United States. The city's inhabitants are referred to as "Angelinos".

    Unlike other large cities that rely on rain to clear smog, Los Angeles gets only 15 inches (381.00 mm) of rain each year: pollution
    accumulates over many consecutive days. Issues of air quality in Los Angeles and other major cities led to the passage of early
    national environmental legislation, including the Clean Air Act. More recently, the state of California has led the nation in working to
    limit pollution by mandating low emission vehicles. Smog levels are only high during summers because it is dry and warm. In the
    winter, storms help to clear the smog and it is not as much of a problem. Smog should continue to drop in the coming years due to
    aggressive steps to reduce it, electric and hybrid cars, improvements in mass transit, and other pollution reducing measures.

    Current estimates from the U.S. Census Bureau put the city's population at 3,833,995. The California Department of Finance
    estimates the population at 4,094,764 as of January 1, 2009. The 2000 census recorded 3,694,820 people, 1,275,412 households,
    and 798,719 families residing in the city, with a population density of 7,876.8 people per square mile (3,041.3/km2). There were
    1,337,706 housing units at an average density of 2,851.8 per square mile (1,101.1/km2). Los Angeles has become a multiethnic and
    multicultural city, with major new groups of Latino and Asian immigrants in recent decades. From a metropolitan area that in 1960 was
    over 80% non-Hispanic white, Los Angeles has been transformed into a city that now has a "majority-minority" population. As of the
    2000 US Census, the racial distribution in Los Angeles was 46.9% White American, 11.2% African American, 10.5% Asian American,
    0.8% Native American, 0.2% Pacific Islander, 25.7% from other races, and 5.2% from two or more races. 46.5% of the population was
    Hispanic or Latino (of any race).

    The census indicated that 42.2% spoke English, 41.7% Spanish, 2.4% Korean, 2.3% Tagalog, 1.7% Armenian, 1.5% Chinese
    (including Cantonese and Mandarin) and 1.3% Persian as their first language.]

    According to the census, 33.5% of households had children under 18, 41.9% were married couples, 14.5% had a female householder
    with no husband present, and 37.4% were non-families. 28.5% of households were made up of individuals and 7.4% had someone
    living alone who was 65 years of age or older. The average household size was 2.83 and the average family size 3.56.

    The age distribution was: 26.6% under 18, 11.1% from 18 to 24, 34.1% from 25 to 44, 18.6% from 45 to 64, and 9.7% who were 65 or
    older. The median age was 32. For every 100 females there were 99.4 males. For every 100 females aged 18 and over, there were
    97.5 males.

    The median income for a household was $36,687, and for a family was $39,942. Males had a median income of $31,880, females
    $30,197. The per capita income was $20,671. 22.1% of the population and 18.3% of families were below the poverty line. 30.3% of
    those under the age of 18 and 12.6% of those aged 65 or older were below the poverty line. Los Angeles has had a high degree of
    income disparity as compared to the rest of the country. Recently, however, income disparity has declined. The median household
    income of the wealthiest neighborhood was $207,938, while in the poorest it was $15,003.



OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                                Page 4
                               2010 COMPANY NAME


   Los Angeles is home to people from more than 140 countries speaking 224 different identified languages. Ethnic enclaves like
   Chinatown, Historic Filipinotown, Koreatown, Little Armenia, Little Ethiopia, Tehrangeles, Little Tokyo, and Thai Town provide
   examples of the polyglot character of Los Angeles.

   Gross Rent
   Census 2009 Supplementary Survey Summary Data (Estimates)
   Specified Renter-Occupied Housing Units in Los Angeles, California

   Gross Rent                                                         Estimate                           Percent
   All Rented Housing Units                                           768,033                            100.00%
       With cash rent                                                 757,021                            98.57%
          Less than $100                                              4,433                              0.58%
          $100 to $149                                                2,412                              0.31%
          $150 to $199                                                11,845                             1.54%
          $200 to $249                                                9,966                              1.30%
          $250 to $299                                                8,973                              1.17%
          $300 to $349                                                15,401                             2.01%
          $350 to $399                                                26,459                             3.45%
          $400 to $449                                                41,027                             5.34%
          $450 to $499                                                39,731                             5.17%
          $500 to $549                                                47,436                             6.18%
          $550 to $599                                                66,332                             8.64%
          $600 to $649                                                61,804                             8.05%
          $650 to $699                                                73,637                             9.59%
          $700 to $749                                                42,991                             5.60%
          $750 to $799                                                51,248                             6.67%
          $800 to $899                                                72,889                             9.49%
          $900 to $999                                                46,519                             6.06%
          $1,000 to $1,249                                            64,830                             8.44%
          $1,250 to $1,499                                            34,925                             4.55%
          $1,500 to $1,999                                            25,301                             3.29%
          $2,000 or more                                              8,862                              1.15%
       No cash rent                                                   11,012                             1.43%




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                           Page 5
                                 2010 COMPANY NAME


   4.1 Market Segmentation

   COMPANY NAME is primarily targeting two main groups. These two categories are:

   1. Renters Seeking a Historic Restored Building. This is a growing group that either appreciate art, aesthetics of a building or are
   in love with the past (i.e. 1920's - 1970's). This is a growing niche that is expanding throughout the United States.

   2. Renters That Are Environmentally Conscious. Many around the world are seeking more energy efficient ways to power their
   homes and their cars. Many single-family dwellings are installing solar panels, wind turbines and many other methods to contribute to
   saving the environment. The company feels that making this green technology also applicable to a multi-family dwelling is on the
   fore-front to change in this arena. Renters will not only hear about COMPANY NAME and owned and operated properties, but will
   want to live there as well.

   Table: Market Analysis

   Market
   Analysis
                                        2010            2011            2012            2013              2014
   Potential          Growth                                                                                            CAGR
   Customers
   Seeking                  3%       306,400         315,592         325,060         334,812           344,856          3.00%
   Restored
   Historic
   Apt.
   Building
   Renters               10%         459,600         505,560         556,116         611,728           672,901         10.00%
   Seeking
   Green-
   Technology
   Apt.
   Building
   Total               7.36%         766,000         821,152         881,176         946,540         1,017,757          7.36%


   4.2 Target Market Segment Strategy

   According to recent demographic studies, more than 30% of the U.S. population will be in the age group of 25-44 by the year 2009. In
   addition, work force studies indicate that the number of trained professionals for most industry categories is inadequate to meet
   business growth demands and attrition rates. Therefore not only is there a large population of renters in this age bracket, but their
   long-term employability, and thus their ability to make rental payments, is quite favorable. With these trends in mind, the
   company's target customer is a young, professional, dual-income family. These tenants will have good credit and income potential,
   but may not have significant cash reserves. The company's approach to these tenants, therefore, will be to get them into COMPANY
   NAME apartment houses with creative solutions to their cash shortage problems.

   4.3 Service Business Analysis

   The country’s two biggest metropolitan areas, New York and Los Angeles, are a microcosm of today’s more nuanced real estate
   market. Average house prices across both areas have fallen enough that buying may now be a good deal for many families. Yet there
   are still significant pockets where renting looks promising — including parts of Manhattan, the New York suburbs and Orange County,
   California.




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                           Page 6
                               2010 COMPANY NAME


   The buy-versus-rent question is particularly relevant right now. To qualify for an expiring federal tax credit of up to $8,000, home
   buyers must have signed a contract by April 30 and closed on the house by June 30. Many economists also expect mortgage rates to
   rise in coming months.

   The real estate investment industry is pulverized and disorganized in today's market. With the number of foreclosures and distressed
   properties across the country and in Los Angeles County alone, COMPANY NAME feels this is the best time to not only save and
   restore a piece of history in Los Angeles, but to promote and demonstrate the possibilities of green technology in a multi-family
   dwelling residing in a major metropolitan area.

   COMPANY NAME wants to provide an easier, cost-effective and environmentally conscious way of living for "Angelinos" and for the
   State of California in the future.

   4.3.1 Competition and Buying Patterns

   The key element in purchase decisions made at the COMPANY NAME client level is trust in the professional reputation and reliability
   of the real estate firm. Clients can rest assured that the company stands behind its' convictions of helping the earth and at the same
   time keeping a piece of the City of Los Angeles' history at the same time. To date, this is not currently being done which will make the
   company stand out. COMPANY NAME will easily make the press for the company's effort and, therefore, will open a floodgate for
   potential tenants.

   5.0 Strategy and Implementation Summary

   Image is a key factor in making in-roads into the higher echelons of real estate retrofitting and management. COMPANY NAME's
   strategy is to lift its image through advertising in prestigious trade publications, joining and net-working and actively marketing a
   selected group of 15 interior designers located in close proximity to the company's target market area.

   5.1 Competitive Edge

   COMPANY NAME 's competitive edge will be the facility's efforts in obtaining all appropriate licensing and certifications for green
   technology and being able to announce that the company's buildings are not on the City of Los Angeles power grid. Additionally,
   thorough pre-hire background screenings are performed on all individuals before hired for employment or involvement on the project.

   5.2 Marketing Strategy

   Tenants of COMPANY NAME can come from all age groups, male and female, all races and every income level and can be long-
   established local residents or new residents to the area. That is why the marketing plan started at the construction phase; by
   keeping in mind, if it looks aesthetically pleasing and is unique in functionality, people will come. Thus the main factor to the
   company's success is simply that a person can enjoy living at any of COMPANY NAME’s while participating in practicing alternative
   methods for power.

   Mid-Century Modern and the contemporary period, generally describes furniture, architectural, and interior design that appeared in the
   span of time between the early 50's to late 70's. The movement, often described as irrational, humorous and ironic, also reflected a
   sense of optimism, and still holds a special place in our collective imagination. Many mid-century designs are viewed as works of art,
   on exhibition at many of the world's finest museums. The trend is brought to the forefront by today's designers, making mid century
   modern popular once again. Every year, more commercials and print ads employ modern furniture; this in turn influences the
   consumer and results in a contagious mindset (especially among young customers discovering the trend for the first time).

   Driving this movement existed designers, who, at the time, may have been misunderstood as too avant gard. The list includes such
   names as Eero Aarnio, Joe Colombo, Charles and Ray Eames, George Nelson, Alvar Aalto, Arne Jacobsen, Frank Gehry, Florence
   Knoll, and Hans Wegner (amongst others). Their desire to deviate from the dourness of minimalism towards a more playful aesthetic
   was occasionally looked down upon by their peers. Many of them also had a hand in influencing architecture during that period, as
   organic design encompassed not only the structure itself, but also the items therein (the earliest pioneer of this method was Frank
   Lloyd Wright).


OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                             Page 7
                                2010 COMPANY NAME


   With the dawn of the 70's, the Pop Culture era evolved, along with the trend to embrace intense colors and the utilization of new
   materials. Plastic and fiberglass especially allowed for greater liberty to create new shapes by virtue of their simple manufacturing
   processes. Once considered 'throw away' or disposable designs, these whimsical pieces drew us out of the pessimistic decade of
   Vietnam and Watergate, rendering daylight on the future. Today, much of the furniture and accessories of this period are highly
   coveted by a new generation of collectors.

   Fortunately, many of the most revered mid-century designs never went out of production. In most cases, the estate family members
   have authorized companies such as Vitra and Adelta to re-issue items to their original specifications. Additionally, showrooms such as
   Mod Livin, the Rocky Mountain regions largest mid-century retailer, are keeping the dream alive by representing the products from the
   likes of Adelta, Cherner, Magis, Vitra, Kartell, Blu Dot, Heller and Emeco. Mod Livin also has a vintage showroom featuring the
   designs of such renowned designers as Ray and Charles Eames, Florence Knoll, George Nelson, Rons John Gibbings, and Charles
   Widdicomb.

   The importance of Greater L.A.’s mid-century architecture can no longer be denied.

   Although the City of Los Angeles and State of California don’t require resources to be fifty years old in order to gain landmark status,
   the widespread perception is that younger buildings just aren’t old enough to be considered significant. Plus, the National Register of
   Historic Places has a general guideline that eligible resources are at least fifty years old.

   The all-volunteer Modern Committee (ModCom) of the Los Angeles Conservancy has dealt with the “fifty-year hurdle” since its
   founding in 1984, long before the renaissance of mid-century modernism.

   The sixties were a particularly important decade for Los Angeles.

   The 1960s were a remarkable period in U.S. history and a watershed moment in the history of Los Angeles. Against the national
   backdrop of the Kennedy era, the civil rights movement, the space race, and the Age of Aquarius, Los Angeles developed its freeway
   system, the aerospace industry flourished, the population boomed, and our love affair with the automobile was at its peak.

   This all spurred an incredibly prolific building period in the Los Angeles region, particularly in terms of civic and commercial
   development. Companies, cities, and institutions pursued ambitious building programs of tremendous scale.

   It was during the sixties that Los Angeles first became a ‘world city'. It was also when we fully realized much of the postwar promise
   that had been building up steam throughout the late forties and fifties. Commercial architects really hit their stride in terms of large-
   scale development. And Los Angeles International Airport embodied the jet age. When visitors arrived in Los Angeles, they knew that
   Los Angeles had arrived.

   Preservation also took hold in the U.S. during the decade. The City of Los Angeles created its Cultural Heritage Ordinance in 1962,
   becoming one of the first cities in the U.S. to do so. The National Historic Preservation Act followed in 1966. Ironically, this came
   largely in response to the destruction of older landmarks to make way for new structures—many of which have now gained their own
   significance and are the subject of this very program.

   5.3 Sales Strategy

   COMPANY NAME will make a significant profit through the excellent care the company's building and in turn, its' tenants. Even
   though COMPANY NAME will be the first of its' kind, the company will see profit within the first year due to beneficial word-of-mouth
   advertising and easily attained media coverage.

   The sales forecast monthly summary is included in the appendix. The annual sales projections are included here in Table 5.2.




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                              Page 8
                                2010 COMPANY NAME


    5.3.1 Sales Forecast

    As the following table shows, the company plans to deliver sales of approximately $270,000 in the first year, $283,920 in the second
    year, and $298,116 in the third year plan implementation.

    Sales forecast data is presented in the chart and table below.

Table: Sales Forecast

Sales Forecast
                                                                       2010                2011                    2012
Sales
Tenants                                                          $230,400              $241,920                $254,016
Film Location Fees                                                $40,000               $42,000                 $44,100
Total Sales                                                      $270,400              $283,920                $298,116

Direct Cost of Sales                                                    2010               2011                    2012
Landscape Maintenance                                                $24,000            $24,720                 $25,462
Repairs                                                              $24,000            $24,720                 $25,462
Subtotal Direct Cost of Sales                                        $48,000            $49,440                 $50,924




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                          Page 9
                     2010 COMPANY NAME




OWNER’S NAME, Owner – [INSERT NUMBER]    Page 10
                               2010 COMPANY NAME


   5.4 Milestones

   The detailed milestones for COMPANY NAME are shown in the following table and chart. The related budgets are included with the
   expenses shown in the projected Profit and Loss statement, which is in the financial analysis that comes in Chapter 7 of this plan.

   Table: Milestones

   Milestones

   Milestone                   Start Date              End Date               Budget                Manager              Department

   Acquire Real                7/29/2010             11/30/2010             $800,000                                          Owner
   Estate
   Install Solar               7/29/2010                2/1/2011             $72,000                                          Owner
   Panels
   Repairs and                 7/29/2010                6/1/2011             $50,000                                          Owner
   Maintenance
   Design and                  7/29/2010              1/15/2011              $20,000                                          Owner
   Install
   Landscaping
   Hire PR Firm                7/29/2010             12/31/2010              $10,000                                          Owner


   Totals                                                                   $952,000


   6.0 Management Summary

   The initial management team depends on the founder herself, OWNER’S NAME, with little back-up. As the company grows, she will
   take on additional consulting help, plus graphic/editorial, sales, and marketing.

   6.1 Personnel Plan

   The detailed monthly personnel plan for the first year is included in the appendix. The annual personnel estimates are included here.

   OWNER’S NAME, the manager and only employee, will not take a salary until the company has made a sufficient profit. Outside of
   OWNER’S NAME, other individuals working with the company will be independent contractors.

   Table: Personnel

   Personnel Plan

                                                                    2010                          2011                         2012
   Management                                                         $0                            $0                           $0
   Other                                                              $0                            $0                           $0
   Total People                                                        1                             1                            1

   Total Payroll                                                      $0                            $0                            $0




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                          Page 11
                                 2010 COMPANY NAME


   7.0 Financial Plan

   The business of COMPANY NAME does not require substantial outlays for inventory and virtually all sales are on a cash basis, so
   increases in sales will not be accompanied by initial cash-flow deficits.

   7.1 Start-up Funding

   OWNER’S NAME’s start-up costs are detailed above, in the Start-up Table.

   Table: Start-up Funding

   Start-up Funding
   Start-up Expenses to Fund                                                                                       $374,500
   Start-up Assets to Fund                                                                                          $20,000
   Total Funding Required                                                                                          $394,500

   Assets
   Non-cash Assets from Start-up                                                                                         $0
   Cash Requirements from Start-up                                                                                  $20,000
   Additional Cash Raised                                                                                                $0
   Cash Balance on Starting Date                                                                                    $20,000
   Total Assets                                                                                                     $20,000



   Liabilities and Capital

   Liabilities
   Current Borrowing                                                                                                      $0
   Long-term Liabilities                                                                                                  $0
   Accounts Payable (Outstanding Bills)                                                                                   $0
   Other Current Liabilities (interest-free)                                                                              $0
   Total Liabilities                                                                                                      $0

   Capital




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                   Page 12
                                   2010 COMPANY NAME




   Planned Investment
   Owner                                                                                                             $0
   Investor                                                                                                          $0
   Additional Investment Requirement                                                                           $394,500
   Total Planned Investment                                                                                    $394,500

   Loss at Start-up (Start-up Expenses)                                                                      ($374,500)
   Total Capital                                                                                                $20,000




   Total Capital and Liabilities                                                                                $20,000


   Total Funding                                                                                               $394,500


   7.2 Important Assumptions

   The company is assuming steady growth from good management, barring any unforeseen local or national disasters such as the
   economic slowdown continuing in most of the country or earthquakes.

   The company is assuming adequate grant funding to sustain COMPANY NAME during start-up.

   7.3 Break-even Analysis

   Table 7.3 summarizes the break-even analysis, including monthly units and sales break-even points.

   Table: Break-even Analysis

   Break-even Analysis


   Monthly Revenue Break-even                                                                                 $5,500



   Assumptions:
   Average Percent Variable Cost                                                                                 0%


   Estimated Monthly Fixed Cost                                                                               $5,500




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                              Page 13
                     2010 COMPANY NAME




OWNER’S NAME, Owner – [INSERT NUMBER]    Page 14
                                   2010 COMPANY NAME


     7.4 Projected Profit and Loss

     As the Profit and Loss table shows, the company expects to continue its steady growth in profitability over the next three years of
     operations.

Table: Profit and Loss

Pro Forma Profit and Loss
                                                                           2010                 2011                  2012
Sales                                                                  $270,400             $283,920              $298,116
Direct Cost of Sales                                                    $48,000              $49,440               $50,924
Other Costs of Sales                                                         $0                   $0                    $0
Total Cost of Sales                                                     $48,000              $49,440               $50,924

Gross Margin                                                           $222,400             $234,480              $247,192
Gross Margin %                                                          82.25%               82.59%                82.92%


Expenses
Payroll                                                                      $0                   $0                    $0
Marketing/Promotion                                                          $0                   $0                    $0
Depreciation                                                                 $0                   $0                    $0
Mortgage/Property Tax                                                   $38,400              $39,552               $40,739
Insurance                                                                $9,600               $9,888               $10,182
Independent Contractors/Maintenance                                     $12,000              $12,360               $12,731
Property Management Company                                              $6,000               $6,180                $6,365

Total Operating Expenses                                                $66,000              $67,980               $70,017

Profit Before Interest and Taxes                                       $156,400             $166,500              $177,175
EBITDA                                                                 $156,400             $166,500              $177,175
 Interest Expense                                                        $8,587              $58,182               $54,168
 Taxes Incurred                                                         $44,344              $32,495               $36,902

Net Profit                                                             $103,469              $75,822               $86,105
Net Profit/Sales                                                        38.27%               26.71%                28.88%




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                         Page 15
                     2010 COMPANY NAME




OWNER’S NAME, Owner – [INSERT NUMBER]    Page 16
                     2010 COMPANY NAME




OWNER’S NAME, Owner – [INSERT NUMBER]    Page 17
                                 2010 COMPANY NAME


   7.5 Projected Cash Flow

   The cash flow projection shows that provisions for ongoing expenses are adequate to meet the needs of the company as the
   business generates sufficient cash flow to support operations.

   Table: Cash Flow

   Pro Forma Cash Flow
                                                       2010                    2011                       2012
   Cash Received

   Cash from Operations
   Cash Sales                                      $270,400                 $283,920                   $298,116
   Subtotal Cash from Operations                   $270,400                 $283,920                   $298,116

   Additional Cash Received
   Sales Tax, VAT, HST/GST                                $0                      $0                         $0
   Received
   New Current Borrowing                                  $0                      $0                         $0
   New Other Liabilities (interest-                       $0                 $10,000                         $0
   free)
   New Long-term Liabilities                        $640,000                      $0                         $0
   Sales of Other Current Assets                          $0                      $0                         $0
   Sales of Long-term Assets                              $0                      $0                         $0
   New Investment Received                        $1,000,000                      $0                         $0
   Subtotal Cash Received                         $1,910,400                $293,920                   $298,116

   Expenditures                                        2010                    2011                       2012

   Expenditures from Operations
   Cash Spending                                         $0                       $0                         $0
   Bill Payments                                   $120,649                 $171,912                   $176,128
   Subtotal Spent on Operations                    $120,649                 $171,912                   $176,128




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                             Page 18
                               2010 COMPANY NAME




   Additional Cash Spent
   Sales Tax, VAT, HST/GST Paid                    $0        $0           $0
   Out
   Principal Repayment of Current                  $0        $0           $0
   Borrowing
   Other Liabilities Principal                     $0        $0           $0
   Repayment
   Long-term Liabilities Principal           $38,400     $39,552     $40,739
   Repayment



   Purchase Other Current Assets                   $0    $72,000          $0

   Purchase Long-term Assets                $800,000         $0           $0

   Dividends                                      $0          $0          $0
   Subtotal Cash Spent                      $959,049    $283,464    $216,867


   Net Cash Flow                            $951,351     $10,456      $81,249
   Cash Balance                             $971,351    $981,807   $1,063,056




OWNER’S NAME, Owner – [INSERT NUMBER]                                           Page 19
                                  2010 COMPANY NAME


   7.6 Projected Balance Sheet

   The balance sheet shows healthy growth of net worth, and strong financial position. The monthly estimates are included in the
   appendix.

   Table: Balance Sheet

   Pro Forma Balance
   Sheet

                                                    2010                          2011                         2012
   Assets

   Current Assets

   Cash                                         $971,351                      $981,807                   $1,063,056
   Other Current Assets                               $0                       $72,000                      $72,000


   Total Current Assets                         $971,351                    $1,053,807                   $1,135,056



   Long-term Assets

   Long-term Assets                             $800,000                      $800,000                     $800,000

   Accumulated Depreciation                            $0                           $0                            $0

   Total Long-term Assets                       $800,000                      $800,000                     $800,000

   Total Assets                               $1,771,351                    $1,853,807                   $1,935,056

   Liabilities and Capital                          2010                          2011                         2012


   Current Liabilities

   Accounts Payable                              $12,682                       $14,259                      $14,496

   Current Borrowing                                   $0                           $0                            $0

   Other Current Liabilities                           $0                      $10,000                      $10,000

   Subtotal Current Liabilities                  $12,682                       $24,259                      $24,496



   Long-term Liabilities                        $601,600                      $562,048                     $521,309

   Total Liabilities                            $614,282                      $586,307                     $545,805




OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                  Page 20
                                2010 COMPANY NAME




   Paid-in Capital                                 $1,394,500                      $1,394,500                      $1,394,500

   Retained Earnings                               ($374,500)                      ($237,431)                       ($127,000)

   Earnings                                          $137,069                        $110,430                        $121,752
   Total Capital                                   $1,157,069                      $1,267,500                      $1,389,251
   Total Liabilities and                           $1,771,351                      $1,853,807                      $1,935,056
   Capital


   Net Worth                                       $1,157,069                      $1,267,500                      $1,389,251

   7.7 Business Ratios

   Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC)
   code 1522, Residential Remodelers, are shown for comparison.

   Table: Ratios

   Ratio Analysis
                                                 2010                      2011                      2012               Industry
                                                                                                                          Profile
   Sales Growth                                 0.00%                     5.00%                     5.00%                -2.88%

   Percent of Total Assets
   Other Current Assets                        0.00%                     3.88%                     3.72%                26.36%
   Total Current Assets                       54.84%                    56.85%                    58.66%                77.28%
   Long-term Assets                           45.16%                    43.15%                    41.34%                22.72%
   Total Assets                              100.00%                   100.00%                   100.00%               100.00%

   Current Liabilities                          0.72%                    1.31%                     1.27%                 43.77%
   Long-term Liabilities                       33.96%                   30.32%                    26.94%                 12.37%
   Total Liabilities                           34.68%                   31.63%                    28.21%                 56.14%
   Net Worth                                   65.32%                   68.37%                    71.79%                 43.86%

   Percent of Sales
   Sales                                     100.00%                   100.00%                   100.00%               100.00%
   Gross Margin                              100.00%                   100.00%                   100.00%                16.71%
   Selling, General &                         49.31%                    61.11%                    59.16%                 5.14%
   Administrative Expenses
   Advertising Expenses                         0.00%                    0.00%                     0.00%                  0.23%
   Profit Before Interest and                  75.59%                   76.06%                    76.51%                  0.96%
   Taxes

   Main Ratios
   Current                                       76.59                    43.44                     46.34                   1.60
   Quick                                         76.59                    43.44                     46.34                   0.58
   Total Debt to Total Assets                  34.68%                   31.63%                    28.21%                 58.63%

   Pre-tax Return on Net                       16.92%                   12.45%                    12.52%                  4.89%
   Worth
   Pre-tax Return on Assets                    11.05%                     8.51%                     8.99%                 2.02%



OWNER’S NAME, Owner – [INSERT NUMBER]                                                                                               Page 21
                               2010 COMPANY NAME


   Additional Ratios                    2010            2011         2012
   Net Profit Margin                  50.69%          38.89%       40.84%    n.a
   Return on Equity                   11.85%           8.71%        8.76%    n.a

   Activity Ratios
   Accounts Payable Turnover            10.51           12.17        12.17   n.a

   Payment Days                            27              28           30   n.a
   Total Asset Turnover                  0.15            0.15         0.15   n.a


   Debt Ratios
   Debt to Net Worth                     0.53            0.46         0.39   n.a
   Current Liab. to Liab.                0.02            0.04         0.04   n.a


   Liquidity Ratios
   Net Working Capital               $958,669      $1,029,548   $1,110,560   n.a

   Interest Coverage                    23.80            3.71         4.21   n.a

   Additional Ratios
   Assets to Sales                       6.55            6.53         6.49   n.a
   Current Debt/Total Assets              1%              1%           1%    n.a

   Acid Test                            76.59           43.44        46.34   n.a
   Sales/Net Worth                       0.23            0.22         0.21   n.a
   Dividend Payout                       0.00            0.00         0.00   n.a




OWNER’S NAME, Owner – [INSERT NUMBER]                                              Page 22
                                                                        Appendix

Table: Sales Forecast

Sales Forecast
                                   Jan       Feb       Mar       Apr        May       Jun        Jul      Aug       Sep       Oct       Nov       Dec
Sales
Tenants                         $19,200   $19,200   $19,200   $19,200    $19,200   $19,200   $19,200   $19,200   $19,200   $19,200   $19,200   $19,200
Film Location Fees              $10,000        $0        $0   $10,000         $0        $0   $10,000        $0        $0   $10,000        $0        $0
Total Sales                     $29,200   $19,200   $19,200   $29,200    $19,200   $19,200   $29,200   $19,200   $19,200   $29,200   $19,200   $19,200

Direct Cost of Sales               Jan       Feb       Mar       Apr        May       Jun        Jul      Aug       Sep       Oct       Nov       Dec
Landscape Maintenance            $2,000    $2,000    $2,000    $2,000     $2,000    $2,000    $2,000    $2,000    $2,000    $2,000    $2,000    $2,000
Repairs                          $2,000    $2,000    $2,000    $2,000     $2,000    $2,000    $2,000    $2,000    $2,000    $2,000    $2,000    $2,000
Subtotal Direct Cost of Sales    $4,000    $4,000    $4,000    $4,000     $4,000    $4,000    $4,000    $4,000    $4,000    $4,000    $4,000    $4,000




                                                                                                                                                 Page 1
                                                                            Appendix

Table: Profit and Loss

Pro Forma Profit and Loss
                                                Jan       Feb       Mar       Apr      May        Jun        Jul       Aug       Sep       Oct       Nov       Dec
Sales                                       $29,200   $19,200   $19,200   $29,200   $19,200   $19,200   $29,200    $19,200   $19,200   $29,200   $19,200   $19,200
Direct Cost of Sales                         $4,000    $4,000    $4,000    $4,000    $4,000    $4,000    $4,000     $4,000    $4,000    $4,000    $4,000    $4,000
Other Costs of Sales                             $0        $0        $0        $0        $0        $0        $0         $0        $0        $0        $0        $0
Total Cost of Sales                          $4,000    $4,000    $4,000    $4,000    $4,000    $4,000    $4,000     $4,000    $4,000    $4,000    $4,000    $4,000

Gross Margin                                $25,200   $15,200   $15,200   $25,200   $15,200   $15,200   $25,200    $15,200   $15,200   $25,200   $15,200   $15,200
Gross Margin %                              86.30%    79.17%    79.17%    86.30%    79.17%    79.17%    86.30%     79.17%    79.17%    86.30%    79.17%    79.17%



Expenses
Payroll                                          $0        $0        $0        $0        $0        $0        $0         $0        $0        $0        $0        $0
Marketing/Promotion                              $0        $0        $0        $0        $0        $0        $0         $0        $0        $0        $0        $0
Depreciation                                     $0        $0        $0        $0        $0        $0        $0         $0        $0        $0        $0        $0
Mortgage/Property Tax                        $3,200    $3,200    $3,200    $3,200    $3,200    $3,200    $3,200     $3,200    $3,200    $3,200    $3,200    $3,200
Insurance                             15%      $800      $800      $800      $800      $800      $800      $800       $800      $800      $800      $800      $800
Independent Contractors/Maintenance   15%    $1,000    $1,000    $1,000    $1,000    $1,000    $1,000    $1,000     $1,000    $1,000    $1,000    $1,000    $1,000
Property Management Company           15%      $500      $500      $500      $500      $500      $500      $500       $500      $500      $500      $500      $500

Total Operating Expenses                     $5,500    $5,500    $5,500    $5,500    $5,500    $5,500    $5,500     $5,500    $5,500    $5,500    $5,500    $5,500

Profit Before Interest and Taxes            $19,700    $9,700    $9,700   $19,700    $9,700    $9,700   $19,700     $9,700    $9,700   $19,700    $9,700    $9,700
EBITDA                                      $19,700    $9,700    $9,700   $19,700    $9,700    $9,700   $19,700     $9,700    $9,700   $19,700    $9,700    $9,700
 Interest Expense                             ($27)     ($53)     ($80)    ($107)    ($133)    ($160)    ($187)     ($213)    ($240)    ($267)    $5,040    $5,013
 Taxes Incurred                              $5,918    $2,926    $2,934    $5,942    $2,950    $2,958    $5,966     $2,974    $2,982    $5,990    $1,398    $1,406

Net Profit                                  $13,809    $6,827    $6,846   $13,865    $6,883    $6,902   $13,921     $6,939    $6,958   $13,977    $3,262    $3,281
Net Profit/Sales                            47.29%    35.56%    35.66%    47.48%    35.85%    35.95%    47.67%     36.14%    36.24%    47.87%    16.99%    17.09%




                                                                                                                                                             Page 2
                                                                                  Appendix

Table: Cash Flow

Pro Forma Cash Flow
                                                   Jan       Feb       Mar       Apr       May       Jun        Jul      Aug       Sep       Oct          Nov       Dec
Cash Received

Cash from Operations
Cash Sales                                      $29,200   $19,200   $19,200   $29,200   $19,200   $19,200   $29,200   $19,200   $19,200   $29,200     $19,200    $19,200

Subtotal Cash from Operations                   $29,200   $19,200   $19,200   $29,200   $19,200   $19,200   $29,200   $19,200   $19,200   $29,200     $19,200    $19,200


Additional Cash Received
Sales Tax, VAT, HST/GST                 0.00%       $0        $0        $0        $0        $0        $0        $0        $0        $0        $0           $0        $0
Received
New Current Borrowing                               $0        $0        $0        $0        $0        $0        $0        $0        $0        $0           $0        $0
New Other Liabilities (interest-free)               $0        $0        $0        $0        $0        $0        $0        $0        $0        $0           $0        $0

New Long-term Liabilities                           $0        $0        $0        $0        $0        $0        $0        $0        $0        $0     $640,000        $0
Sales of Other Current Assets                       $0        $0        $0        $0        $0        $0        $0        $0        $0        $0           $0        $0

Sales of Long-term Assets                           $0        $0        $0        $0        $0        $0        $0        $0        $0        $0            $0       $0
New Investment Received                             $0        $0        $0        $0        $0        $0        $0        $0        $0        $0    $1,000,000       $0

Subtotal Cash Received                          $29,200   $19,200   $19,200   $29,200   $19,200   $19,200   $29,200   $19,200   $19,200   $29,200   $1,659,200   $19,200


Expenditures                                       Jan       Feb       Mar       Apr       May       Jun        Jul      Aug       Sep       Oct          Nov       Dec

Expenditures from Operations

Cash Spending                                       $0         $0        $0        $0        $0        $0        $0        $0        $0        $0          $0         $0
Bill Payments                                     $513    $15,291   $12,372   $12,453   $15,235   $12,316   $12,397   $15,179   $12,260   $12,341     $15,247    $15,937

Subtotal Spent on Operations                      $513    $15,291   $12,372   $12,453   $15,235   $12,316   $12,397   $15,179   $12,260   $12,341     $15,247    $15,937




                                                                                                                                                                 Page 3
                                                                    Appendix


Additional Cash Spent
Sales Tax, VAT, HST/GST Paid          $0        $0        $0        $0        $0        $0        $0        $0        $0        $0         $0         $0
Out
Principal Repayment of Current        $0        $0        $0        $0        $0        $0        $0        $0        $0        $0         $0         $0
Borrowing
Other Liabilities Principal           $0        $0        $0        $0        $0        $0        $0        $0        $0        $0         $0         $0
Repayment
Long-term Liabilities Principal    $3,200    $3,200    $3,200    $3,200    $3,200    $3,200    $3,200    $3,200    $3,200    $3,200     $3,200     $3,200
Repayment
Purchase Other Current Assets         $0        $0        $0        $0        $0        $0        $0        $0        $0        $0         $0         $0

Purchase Long-term Assets              $0        $0        $0        $0        $0        $0        $0        $0        $0        $0   $800,000         $0
Dividends                              $0        $0        $0        $0        $0        $0        $0        $0        $0        $0         $0         $0
Subtotal Cash Spent                $3,713   $18,491   $15,572   $15,653   $18,435   $15,516   $15,597   $18,379   $15,460   $15,541   $818,447    $19,137


Net Cash Flow                     $25,487     $709     $3,628   $13,547     $765     $3,684   $13,603     $821     $3,740   $13,659   $840,753       $63

Cash Balance                      $45,487   $46,196   $49,824   $63,371   $64,136   $67,820   $81,423   $82,244   $85,984   $99,643   $940,395   $940,458




                                                                                                                                                  Page 4
                                                                                       Appendix

Table: Balance Sheet

Pro Forma Balance Sheet
                                                  Jan       Feb       Mar       Apr        May       Jun        Jul      Aug       Sep        Oct         Nov          Dec
Assets                     Starting Balances

Current Assets
Cash                                $20,000    $45,487   $46,196   $49,824   $63,371    $64,136   $67,820   $81,423   $82,244   $85,984   $99,643    $940,395     $940,458
Other Current Assets                     $0         $0        $0        $0        $0         $0        $0        $0        $0        $0        $0          $0           $0
Total Current Assets                $20,000    $45,487   $46,196   $49,824   $63,371    $64,136   $67,820   $81,423   $82,244   $85,984   $99,643    $940,395     $940,458

Long-term Assets
Long-term Assets                         $0         $0        $0        $0        $0         $0        $0        $0        $0        $0        $0     $800,000     $800,000
Accumulated Depreciation                 $0         $0        $0        $0        $0         $0        $0        $0        $0        $0        $0           $0           $0
Total Long-term Assets                   $0         $0        $0        $0        $0         $0        $0        $0        $0        $0        $0     $800,000     $800,000
Total Assets                        $20,000    $45,487   $46,196   $49,824   $63,371    $64,136   $67,820   $81,423   $82,244   $85,984   $99,643   $1,740,395   $1,740,458




                                                                                                                                                                              Page 5
                                                                                        Appendix


Liabilities and                        Jan          Feb          Mar          Apr         May           Jun           Jul        Aug           Sep          Oct          Nov          Dec
Capital

Current
Liabilities
Accounts                   $0      $14,878      $11,960      $11,942      $14,824      $11,906      $11,888      $14,770      $11,852      $11,834      $14,716      $15,407      $15,389
Payable
Current                    $0           $0           $0           $0           $0           $0           $0           $0           $0           $0           $0           $0           $0
Borrowing
Other Current              $0           $0           $0           $0           $0           $0           $0           $0           $0           $0           $0           $0           $0
Liabilities
Subtotal Current           $0      $14,878      $11,960      $11,942      $14,824      $11,906      $11,888      $14,770      $11,852      $11,834      $14,716      $15,407      $15,389
Liabilities

Long-term                  $0      ($3,200)     ($6,400)     ($9,600)    ($12,800)    ($16,000)    ($19,200)    ($22,400)    ($25,600)    ($28,800)    ($32,000)    $604,800     $601,600
Liabilities
Total Liabilities          $0      $11,678       $5,560       $2,342       $2,024      ($4,094)     ($7,312)     ($7,630)    ($13,748)    ($16,966)    ($17,284)    $620,207     $616,989

Paid-in Capital       $394,500     $394,500     $394,500     $394,500     $394,500     $394,500     $394,500     $394,500     $394,500     $394,500     $394,500   $1,394,500   $1,394,500
Retained            ($374,500)   ($374,500)   ($374,500)   ($374,500)   ($374,500)   ($374,500)   ($374,500)   ($374,500)   ($374,500)   ($374,500)   ($374,500)   ($374,500)   ($374,500)
Earnings
Earnings                   $0      $13,809      $20,636      $27,482      $41,347      $48,230      $55,132      $69,053      $75,992      $82,950      $96,927      $100,189     $103,469
Total Capital         $20,000      $33,809      $40,636      $47,482      $61,347      $68,230      $75,132      $89,053      $95,992     $102,950     $116,927    $1,120,189   $1,123,469
Total Liabilities     $20,000      $45,487      $46,196      $49,824      $63,371      $64,136      $67,820      $81,423      $82,244      $85,984      $99,643    $1,740,395   $1,740,458
and Capital

Net Worth             $20,000      $33,809      $40,636      $47,482      $61,347      $68,230      $75,132      $89,053      $95,992     $102,950     $116,927    $1,120,189   $1,123,469




                                                                                                                                                                                  Page 6
                                                               Appendix


								
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