Business Plan for Garage Door Repair Services

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Business Plan for Garage Door Repair Services Powered By Docstoc
					This Business Plan for a Garage Door Repair Services 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.
                                                       [[COMPANY NAME] 20




                                [Company Name]
                                           [Name]

                                          [Address]

                                    Email: [Email Address]

                                    Phone: XXX-XXX-XXXX

                                     Fax: XXX-XXX-XXXX

                                  Web Site: [Website Address]




© Copyright 2012 Docstoc Inc.                                     1
                                                              [[COMPANY NAME] 20



                                       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
    Chart: Highlights .......................................................................................................................... 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 Company History ...................................................................................................................... 2
    Table: Past Performance ........................................................................................................... 3
    Chart: Past Performance ........................................................................................................... 4
3.0 Products and Services ................................................................................................................ 4
4.0 Market Analysis Summary ........................................................................................................ 5
  4.1 Market Segmentation ............................................................................................................. 5
    Table: Market Analysis ............................................................................................................... 6
    Chart: Market Analysis (Pie) .................................................................................................... 6
  4.2 Target Market Segment Strategy ...................................................................................... 6
  4.3 Service Business Analysis ..................................................................................................... 7
    4.3.1 Competition and Buying Patterns .............................................................................. 7
5.0 Web Plan Summary ..................................................................................................................... 7
  5.1 Website Marketing Strategy ................................................................................................. 7
  5.2 Development Requirements ................................................................................................. 7
6.0 Strategy and Implementation Summary ............................................................................ 8
  6.1 SWOT Analysis .......................................................................................................................... 8
    6.1.1 Strengths ............................................................................................................................. 8
    6.1.2 Weaknesses ........................................................................................................................ 8
    6.1.3 Opportunities ..................................................................................................................... 8
    6.1.4 Threats ................................................................................................................................. 8
  6.2 Competitive Edge ..................................................................................................................... 9
  6.3 Marketing Strategy .................................................................................................................. 9
  6.4 Sales Strategy ........................................................................................................................... 9
    6.4.1 Sales Forecast.................................................................................................................... 9
      Table: Sales Forecast ........................................................................................................... 10
      Chart: Sales Monthly ............................................................................................................ 11
      Chart: Sales by Year ............................................................................................................. 11
  6.5 Milestones.................................................................................................................................. 12
    Table: Milestones ....................................................................................................................... 12
7.0 Management Summary ............................................................................................................ 12
  7.1 Personnel Plan ......................................................................................................................... 12
  8.0 Financial Plan ........................................................................................................................... 13
  8.1 Important Assumptions ....................................................................................................... 13
  8.2 Break-even Analysis .............................................................................................................. 13
    Table: Break-even Analysis.................................................................................................... 13
    Chart: Break-even Analysis ................................................................................................... 14
  8.3 Projected Profit and Loss ..................................................................................................... 14

                                                                        Page 1
                                                             Table of Contents



    Table: Profit and Loss ............................................................................................................... 15
    Chart: Profit Monthly ................................................................................................................ 16
    Chart: Profit Yearly .................................................................................................................... 16
    Chart: Gross Margin Monthly................................................................................................. 17
    Chart: Gross Margin Yearly .................................................................................................... 17
  8.4 Projected Cash Flow .............................................................................................................. 18
    Table: Cash Flow ........................................................................................................................ 18
    Chart: Cash .................................................................................................................................. 19
  8.5 Projected Balance Sheet ...................................................................................................... 19
    Table: Balance Sheet ................................................................................................................ 20
    8.6 Business Ratios ................................................................................................................... 21
    Table: Ratios ................................................................................................................................ 21
Table: Sales Forecast ......................................................................................................................... 1
Table: Profit and Loss ......................................................................................................................... 2
Table: Cash Flow .................................................................................................................................. 3
Table: Balance Sheet .......................................................................................................................... 5




                                                                     Page 2
                                                          [COMPANY NAME] 2010

1.0 Executive Summary

   [Company Name] is a Sole Proprietorship owned by [Name].

   [Company Name]
   [Address]
   Email: [Email Address]
   Web Site: [Website Address]
   Phone: XXX-XXX-XXXX
   Fax: XXX-XXX-XXXX

   [Company Name] is led by husband and wife co-owners, [Name], who both have considerable
   experience in running an effective business. [Company Name] is a reputable garage door
   installation and repair company, located in Hollister, California. [Name] offer six years of quality
   industry experience.

   The focus of this business plan is to put forth objectives to increase the staff to better serve our
   customers, acquire an office to display our products and services, acquire a shop to have
   inventory on hand and to shorten delay times on service calls and repairs, and to increase
   company vehicles to accommodate increased staff. [Company Name] is ready to elevate to the
   next step. The Company is seeking grant funding in the amount of $500,000. The funding
   will be used to purchase a new vehicle for an additional installer, recondition the current
   vehicles, build a website, increase advertising and start employee health benefits.

   Based on the detailed financial projections, [Company Name]'s future sales for 2010, 2011
   and 2012 are expected to be $193,200, $202,860 and $213,003, respectively.




   Chart: Highlights
                                                         [COMPANY NAME] 2010

1.1 Objectives

   1. Increase staff to better serve our customers.
   2. Acquire an office to create a show room for customers to see our products and services.
   3. Acquire a shop to have inventory on hand and to shorten the delay times on service
      calls and repairs.
   4. Increase company vehicles to accommodate increased staff.

1.2 Mission

   [Company Name] is dedicated to providing top quality service, sales, and installation to our
   customers. We will strive to implement a long-term relationship with our customers, based on
   quality and timely service for all of their garage door needs.

1.3 Keys to Success

   1. Provide professional, quality garage installation and repair services
   2. Guarantee client satisfaction
   3. Have affordable rates

2.0 Company Summary

   [Company Name] is a garage door installation and repair company headquartered in Hollister,
   California. The owners of [Company Name] are [Name]. The husband and wife business
   team brings six years of experience to the garage door industry. [Company Name] specializes
   in the installation and repair of commercial and residential garage doors and openers. The
   Company is located at the Pullido's 1600 sq ft residence in Hollister, California.

2.1 Company Ownership

   [Company Name] is a Sole Proprietorship owned by [Name].

2.2 Company History

   Sales for 2007, 2008, and 2009 were $99,730, $144,062 and $162,051, respectively. Earnings
   for this period were $14,991, $17 and $34, respectively. The earnings were affected by the bad
   economy.

   The Past Financial Performance shows that we have had an increase in our sales.
                                                   [COMPANY NAME] 2010

Table: Past Performance



Past Performance
                                               2007         2008       2009
Sales                                        $99,730    $144,062   $162,051
Gross Margin                                 $47,556     $83,563    $92,798
Gross Margin %                               47.68%      58.00%     57.26%
Operating Expenses                           $37,183     $51,816    $73,022

Balance Sheet
                                                2007       2008       2009

Current Assets
Cash                                              $0         $0         $0
Other Current Assets                              $0         $0         $0
Total Current Assets                              $0         $0         $0

Long-term Assets
Long-term Assets                                  $0         $0         $0
Accumulated Depreciation                          $0         $0         $0
Total Long-term Assets                            $0         $0         $0

Total Assets                                      $0         $0         $0

Current Liabilities
Accounts Payable                                  $0          $0         $0
Current Borrowing                                 $0          $0         $0
Other Current Liabilities (interest free)     $8,724      $8,724     $8,724
Total Current Liabilities                     $8,724      $8,724     $8,724

Long-term Liabilities                             $0          $0         $0
Total Liabilities                             $8,724      $8,724     $8,724

Paid-in Capital                                    $0         $0         $0
Retained Earnings                           ($23,715)   ($8,741)   ($8,758)
Earnings                                      $14,991        $17        $34
Total Capital                                ($8,724)   ($8,724)   ($8,724)

Total Capital and Liabilities                     $0         $0         $0

Other Inputs
Payment Days                                       1          1          1
                                                      [COMPANY NAME] 2010

   Chart: Past Performance




3.0 Products and Services

   [Company Name] provides customers with a year round, top-notch service. Our company
   provides services for garage doors and openers. [Company Name] provides gear replacements
   and spring changes and also offer commercial and residential doors as well as wood and steel
   doors. We purchase our doors and openers from different suppliers such as Northwest Doors,
   Carriage House Doors, Wayne Dalton and Clopay.

   As we grow, our main objection is to focus on customer satisfaction. Based on our reviews our
   customers comment mainly on our punctuality, cleanliness and honesty. Our pricing is very
   competitive with others and we've been consistently lower than most other garage door
   companies in our area.

   Our long-term strategy is to have a business location that can accommodate a show room for
   our customers to see the products as well as keep inventory for last minute services and
   repairs.
                                                       [COMPANY NAME] 2010

4.0 Market Analysis Summary

   The U.S. door market is a $15 billion industry that caters to both commercial and residential
   businesses. In 2009, the poor state of the housing market severely impacted the door industry;
   thus, there were sharp declines in new home construction and existing home re-sales. The
   impact was also felt in the builder market. However, metal door manufacturers are benefiting
   from the residential market and experienced a sharp increase over the past few years.

   Overall, the door industry is expected to recover in 2010. Some of the factors that affect the
   demand and distribution in this industry includes: the U.S. housing demand, non-residential
   construction spending and mortgage interest rates.

   [Company Name]'s business plan focuses solely on the commercial and residential door
   markets. [Company Name] has the products and services necessary to flourish within these
   markets. By supplying quality products and delivering superior customer service, [Company
   Name]'s potential is excellent.

4.1 Market Segmentation

   Our market segmentation scheme is fairly straightforward, and focuses on our target market,
   our customers within the commercial and residential business area of Hollister, California.
   These customers prefer certain quality of work and it is our duty to deliver on their
   expectations.

   The information contained in our market analysis table, displays [Company Name]'s main
   markets, which are home owners and commercial businesses. Our home owner clients are our
   biggest and more popular market. Our commercial business clients exist due to our professional
   reputation as well as through the long-standing relationship we've developed in our competitive
   industry.

   Our customers appreciate our work ethics and exceptional service. They utilize us to maximize
   their productivity. These customers have the option to do business with other garage door
   installation companies, but they understand that working with [Company Name] is beneficial to
   them because we deliver the dedication and skilled labor that they desire.
                                                           [COMPANY NAME] 2010

Table: Market Analysis



Market Analysis
                                        2010        2011        2012       2013        2014
Potential Customers       Growth                                                                 CAGR
Homeowners                   2%       30,972      31,591      32,223      32,867      33,524     2.00%
Commercial                   2%        3,442       3,511       3,581       3,653       3,726     2.00%
Businesses
Total                      2.00%      34,414      35,102      35,804      36,520      37,250      2.00%



Chart: Market Analysis (Pie)




4.2 Target Market Segment Strategy

   Currently, [Company Name] serves the door market segment. Our choice of target markets is
   based on comprehensive experience within the door industry coupled with an in-depth
   understanding of the customer's needs. Our skills and capabilities have allowed us to effectively
   compete and establish a reputation within our area. However strengthening our marketing
   strategy will improve our profitability levels and build on to our customer base.

   Because we mainly focus on commercial and residential businesses, we know how to meet
   the specific needs of our clients. Therefore, we will utilize the following sales literature to reach
   our target market:

      business cards
      website
      online ads
                                                           [COMPANY NAME] 2010

4.3 Service Business Analysis

   The general structure of the industry is the installation and repair of garage doors and openers
   in either commercial business and/or residential neighborhoods. We purchase our goods from
   wholesale garage door and opener distribution centers. Then we sell the goods and services to
   the public. It's our duty to offer our customers the best service and products at reasonable
   prices.

   [Company Name] offers distinct services within this market. We provide our clients with
   services such as:

      garage door installation
      garage door repairs

   As simple as it may be, our method of executing exceptional customer service has an important
   effect on the bottom line: People want to give their business to those who appreciate it. Skillful
   use of advertising and strong communication will bring the business we desire.

4.3.1 Competition and Buying Patterns

   [Company Name]s exists in a purely competitive market. Although other companies offer the
   same products and service that we do, they cannot compete with our impeccable customer
   service, our quality of work and our affordable prices. In fact, our customer's choose our
   Company based on our outstanding reputation, price, image and visibility.

   [Company Name] competes directly with these other companies by effectively meeting our
   customer's needs. We thrive due to our longevity within this industry and our professional
   credentials. Garage door companies seek to establish strong relationships with clients to ensure
   that they are satisfied. Our goal is to fulfill our client’s demands because it aids us in generating
   future business. If our client is happy, they will recommend us to others who need our
   service.

5.0 Web Plan Summary

   Our website is an opportunity to offer current information on service offerings,
   company background, announcements and special discounts. The website is another method to
   generate steady business in our area.

5.1 Website Marketing Strategy

   Our website will be promoted on all of our marketing materials. We will advertise our site on
   our fliers and business cards as well as in other industry related publications and news
   papers ads.

5.2 Development Requirements

   [Company Name] will have an attractive, simple and informative internet focused website.
   [Name] will maintain the website; thus they will need a user friendly site from a dependable
   hosting company.
                                                        [COMPANY NAME] 2010

6.0 Strategy and Implementation Summary

   We have clearly defined the target market and have differentiated ourselves by offering a solid
   solution to fulfilling our customers’ needs. Reasonable sales targets have been established with
   an implementation plan designed to ensure the goals set forth below are achieved.

6.1 SWOT Analysis

   The SWOT analysis aids in displaying the internal strengths and weaknesses that [Company
   Name] must address. It allows us to examine the opportunities presented to [Company
   Name] as well as potential threats. The Company's strength will help it to succeed. These
   strengths are: having knowledgeable and friendly staff, outstanding reputation and clear vision
   of the market need. Strengths are valuable, but it is also important to realize the
   weaknesses [Company Name] must address. These weaknesses include: limited staff to assist
   with business demands, poor location of business and lack of money to advertise.

6.1.1 Strengths

   1. Knowledgeable and friendly staff. [Company Name] has a passion for delivering
      superior customer service. The [Company Name] staff is well-informed about the door
      industry and is willing to share their knowledge and experiences with customers.
   2. Reputation. [Company Name] has a strong reputation of successfully installing
      and repairing quality garage door openers with exceptional customer relations. The
      Company is also known for being honest, punctual, reliable and clean.
   3. Clear vision of the market need. [Company Name] knows the business thoroughly. We
      know the customers' needs, we know the ins and outs of the industry and we know how
      to offer the service that will bring the two together.

6.1.2 Weaknesses

      limited staff to assist with business demands
      poor location of business
      lack of money to advertise

6.1.3 Opportunities

      There is only one other major garage door company in our area; thus, there is ongoing
       opportunity for growth.

6.1.4 Threats

      Due to our lack of staff, our biggest threat would be something unexpected happening to
       Tony, since he is the only person doing all of the services at this time.
                                                        [COMPANY NAME] 2010

6.2 Competitive Edge

   [Company Name]'s competitive edge is our undeniable reliability and honesty. We've managed
   to position ourselves as strategic ally with our customers. Our Company receives numerous
   compliments on the way we handle and conduct business. On occasions, we have gone out
   of our way for our customers, to get the best door for their money. By building a business
   based on long-standing relationships with satisfied clients, we simultaneously build defenses
   against competition. The longer the relationship stands, the more we help our clients
   understand what we offer them and why they need it.

6.3 Marketing Strategy

   Our marketing strategy involves advertising and reaching all the potential clients that we can.
   Since we gain most of our customers through internet activity, we will mostly utilize online
   marketing strategies to promote our services. Our main goal is to provide exceptional service to
   our customers. We know what each customer needs and aim to satisfy them.

   Currently, [Company Name] has an advantage because the owner and technician, Antonio, is a
   superior business man that has excellent work ethics and communication skills. He also offers
   years of experience to the garage door industry.

6.4 Sales Strategy

   The owners of [Company Name]s have excellent customer relation skills and work ethics; these
   are the skills which have been useful in making customers comfortable in trusting our Company
   to install or repair their garage doors and openers. Keeping customers happy, we feel, is an
   implicit part of building a relationship that will encourage repeat business.

6.4.1 Sales Forecast

   [Company Name] averages about 12 garage door installations a month. Each installation cost
   $1200; thus the average monthly income for garage door installations is $14,400.

   The Company averages about 20 repairs a month. Each repair will cost the customer $85,
   excluding the price for parts, which varies with each repair. Overall, the average monthly
   income for repairs is $1,700.

   Our 2010 forecast for [Company Name]'s total sales are $193,200. During the years 2011 and
   2012 we will see a 5% annual increase.
                                    [COMPANY NAME] 2010

Table: Sales Forecast



Sales Forecast
                                    2010        2011        2012
Unit Sales
Garage Door Installations            144         151         159
Repairs                              240         252         265
Total Unit Sales                     384         403         423

Unit Prices                          2010        2011        2012
Garage Door Installations       $1,200.00   $1,200.00   $1,200.00
Repairs                            $85.00      $85.00      $85.00

Sales
Garage Door Installations       $172,800    $181,440    $190,512
Repairs                          $20,400     $21,420     $22,491
Total Sales                     $193,200    $202,860    $213,003

Direct Unit Costs                  2010        2011        2012
Garage Door Installations        $240.00     $240.00     $240.00
Repairs                           $17.00      $17.00      $17.00

Direct Cost of Sales
Garage Door Installations        $34,560     $36,288     $38,102
Repairs                           $4,080      $4,284      $4,498
Subtotal Direct Cost of Sales    $38,640     $40,572     $42,601
                       [COMPANY NAME] 2010

Chart: Sales Monthly




Chart: Sales by Year
                                                              [COMPANY NAME] 2010

6.5 Milestones

   In order to achieve the sales and marketing goals that have been outline in this business
   plan, The Company has deadlines to meet and ideas to implement. Some of these are outlined
   below:

   1.   Obtain grant funding to improve business.
   2.   Purchase a new vehicle for an additional installer.
   3.   Reconditioning our current vehicles.
   4.   Build a new website.
   5.   Increase advertising.
   6.   Start the employee health benefits.

Table: Milestones



Milestones

Milestone                     Start Date    End Date           Budget   Manager           Department
New Vehicle                    5/1/2010     6/1/2010          $45,000    [Name]              Service
Reconditioning Current         5/1/2010     6/1/2010          $20,000    [Name]              Service
Vehicle
New Website                    5/1/2010      6/1/2010       $5,000       [Name]            Advertising
Advertising/Marketing          5/1/2010      6/1/2010      $10,000       [Name]            Advertising
New Office                     5/1/2010      6/1/2010     $300,000       [Name]   Administrative/Sales
Employee Health                5/1/2010      6/1/2010       $5,000       [Name]    Human Resources
Benefits
Totals                                                    $385,000



7.0 Management Summary

   [Name] are the co-owners of [Company Name]s. [Name] have six years of managerial
   experience in the garage door industry and have extensive knowledge of this market.

   The owners manage all aspects of the business without the assistance of a staff. A future goal
   of [Company Name] is to hire personnel to assist with the growing business. The Company
   would benefit tremendously with an additional staff member.

7.1 Personnel Plan

   Currently, all the installations and repairs are managed by the owners [Name]. [Company
   Name]'s future goal is to hire more personnel in 2011 to assist with the installation and repairs.
                                                         [COMPANY NAME] 2010

8.0 Financial Plan
   The current financial plan for [Company Name] is to obtain grant funding in the amount of
   $500,000. The grant will be used to purchase a new vehicle for an additional installer,
   recondition the current vehicles, build a website, increase advertising and start employee health
   benefits.

   The following sections of this plan will serve to describe [Company Name]'s financial plan in
   more detail:

      General Assumptions
      Break-even Analysis
      Profit and Loss
      Cash Flow
      Balance

8.1 Important Assumptions

   The table below presents the assumptions used in the financial calculations of this business
   plan.

   The average per-unit revenue cost is estimated to be $503.13. The average per-unit variable
   cost is estimated to be $100.63. The estimated monthly fixed cost is $1,161.

8.2 Break-even Analysis

   For our break-even analysis, the monthly units needed to break-even are 3. The monthly sales
   needed to break-even are $1,451.

   The break-even analysis has been calculated on the "burn rate" of The Company. The Company
   feels that this gives the investor a more accurate picture of the actual risk of the venture.


Table: Break-even Analysis



Break-even Analysis

Monthly Units Break-even                                3
Monthly Revenue Break-even                         $1,451

Assumptions:
Average Per-Unit Revenue                          $503.13
Average Per-Unit Variable Cost                    $100.63
Estimated Monthly Fixed Cost                       $1,161
                                                   [COMPANY NAME] 2010

   Chart: Break-even Analysis




8.3 Projected Profit and Loss

   The sales for 2010, 2011 and 2012 are $193,200, $202,860 and $213,003, respectively. The
   net profit for the same period is $98,441, $113,602 and $119,282, respectively.

   The percentages of the net profit sales for this period were 50.95%, 56.00% and 56.00%,
   respectively.
                                              [COMPANY NAME] 2010

Table: Profit and Loss



Pro Forma Profit and Loss
                                       2010           2011       2012
Sales                              $193,200       $202,860   $213,003
Direct Cost of Sales                $38,640        $40,572    $42,601
Other Costs of Sales                     $0             $0         $0
Total Cost of Sales                 $38,640        $40,572    $42,601

Gross Margin                       $154,560       $162,288   $170,402
Gross Margin %                      80.00%         80.00%     80.00%


Expenses
Payroll                                  $0            $0         $0
Marketing/Promotion                  $6,331            $0         $0
Depreciation                             $0            $0         $0
Payroll Taxes                            $0            $0         $0
Other                                $7,599            $0         $0

Total Operating Expenses            $13,930            $0         $0

Profit Before Interest and Taxes   $140,630       $162,288   $170,402
EBITDA                             $140,630       $162,288   $170,402
 Interest Expense                        $0             $0         $0
 Taxes Incurred                     $42,189        $48,686    $51,121

Net Profit                          $98,441       $113,602   $119,282
Net Profit/Sales                    50.95%         56.00%     56.00%
                        [COMPANY NAME] 2010

Chart: Profit Monthly




Chart: Profit Yearly
                              [COMPANY NAME] 2010

Chart: Gross Margin Monthly




Chart: Gross Margin Yearly
                                                         [COMPANY NAME] 2010

8.4 Projected Cash Flow

   [Company Name] has applied for grant funding in the amount of $500,000. In 2010, we
   forecast that we'll receive $500,000 in the month of May. During this period, we'll use
   $300,000 to purchase an office space and $45,000 to purchase a new company vehicle. These
   purchases are reflected in the purchase of other current assets.

    The remainder of the funds will be used to recondition the current vehicle, advertising, building
   a website and to start employee health benefits.

   The following table displays [Company Name]'s cash flow, and the chart illustrates monthly
   cash flow in the first year. Monthly cash flow projections are also included in the appendix.

Table: Cash Flow

Pro Forma Cash Flow
                                                             2010             2011              2012
Cash Received

Cash from Operations
Cash Sales                                               $193,200         $202,860          $213,003
Subtotal Cash from Operations                            $193,200         $202,860          $213,003

Additional Cash Received
Sales Tax, VAT, HST/GST Received                               $0               $0                $0
New Current Borrowing                                          $0               $0                $0
New Other Liabilities (interest-free)                          $0               $0                $0
New Long-term Liabilities                                      $0               $0                $0
Sales of Other Current Assets                                  $0               $0                $0
Sales of Long-term Assets                                      $0               $0                $0
New Investment Received                                  $500,000               $0                $0
Subtotal Cash Received                                   $693,200         $202,860          $213,003

Expenditures                                                 2010             2011              2012

Expenditures from Operations
Cash Spending                                                  $0                $0               $0
Bill Payments                                             $87,083           $89,598          $93,355
Subtotal Spent on Operations                              $87,083           $89,598          $93,355

Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out                               $0                $0               $0
Principal Repayment of Current Borrowing                       $0                $0               $0
Other Liabilities Principal Repayment                          $0                $0               $0
Long-term Liabilities Principal Repayment                      $0                $0               $0
Purchase Other Current Assets                                  $0                $0               $0
Purchase Long-term Assets                                $345,000                $0               $0
Dividends                                                      $0                $0               $0
Subtotal Cash Spent                                      $432,083           $89,598          $93,355

Net Cash Flow                                            $261,117         $113,262          $119,648
Cash Balance                                             $261,117         $374,379          $494,027
                                                 [COMPANY NAME] 2010

   Chart: Cash




8.5 Projected Balance Sheet

   The Company's net worth is $589,717, $703,319 and $822,600 for 2010, 2011, and 2012,
   respectively.
                                      [COMPANY NAME] 2010

Table: Balance Sheet



Pro Forma Balance Sheet
                                    2010       2011       2012
Assets

Current Assets
Cash                            $261,917    $374,379   $494,027
Other Current Assets                  $0          $0         $0
Total Current Assets            $261,917    $374,379   $494,027

Long-term Assets
Long-term Assets                $345,000    $345,000   $345,000
Accumulated Depreciation              $0          $0         $0
Total Long-term Assets          $345,000    $345,000   $345,000
Total Assets                    $606,917    $719,379   $839,027

Liabilities and Capital             2010       2011       2012

Current Liabilities
Accounts Payable                  $8,476      $7,336     $7,703
Current Borrowing                     $0          $0         $0
Other Current Liabilities         $8,724      $8,724     $8,724
Subtotal Current Liabilities     $17,200     $16,060    $16,427

Long-term Liabilities                 $0          $0         $0
Total Liabilities                $17,200     $16,060    $16,427

Paid-in Capital                 $500,000    $500,000   $500,000
Retained Earnings                ($8,724)    $89,717   $203,319
Earnings                         $98,441    $113,602   $119,282
Total Capital                   $589,717    $703,319   $822,600
Total Liabilities and Capital   $606,917    $719,379   $839,027

Net Worth                       $589,717    $703,319   $822,600
                                                     [COMPANY NAME] 2010

8.6 Business Ratios

   The table below presents ratios from the home equipment maintenance and repair markets as a
   reference.

Table: Ratios



Ratio Analysis
                                             2010          2011           2012    Industry Profile
Sales Growth                               34.11%         5.00%          5.00%            -1.05%

Percent of Total Assets
Other Current Assets                        0.00%         0.00%         0.00%            36.14%
Total Current Assets                       43.08%        52.04%        58.88%            61.83%
Long-term Assets                           56.92%        47.96%        41.12%            38.17%
Total Assets                              100.00%       100.00%       100.00%           100.00%

Current Liabilities                         2.71%         2.23%          1.96%           30.66%
Long-term Liabilities                       0.00%         0.00%          0.00%           58.05%
Total Liabilities                           2.71%         2.23%          1.96%           88.70%
Net Worth                                  97.29%        97.77%         98.04%           11.30%

Percent of Sales
Sales                                     100.00%       100.00%       100.00%           100.00%
Gross Margin                               80.00%        80.00%        80.00%            53.42%
Selling, General & Administrative          29.05%        24.00%        24.00%            22.29%
Expenses
Advertising Expenses                        3.28%         0.00%          0.00%             1.36%
Profit Before Interest and Taxes           72.79%        80.00%         80.00%             6.01%

Main Ratios
Current                                      15.92         23.31          30.07             1.53
Quick                                        15.92         23.31          30.07             1.09
Total Debt to Total Assets                  2.71%         2.23%          1.96%           88.70%
Pre-tax Return on Net Worth                23.85%        23.07%         20.72%          245.85%
Pre-tax Return on Assets                   23.20%        22.56%         20.31%           27.77%
                                       [COMPANY NAME] 2010


Additional Ratios              2010        2011       2012
Net Profit Margin            50.95%      56.00%     56.00%    n.a
Return on Equity             16.69%      16.15%     14.50%    n.a

Activity Ratios
Accounts Payable Turnover      12.34       12.17      12.17   n.a
Payment Days                      27          31         29   n.a
Total Asset Turnover            0.32        0.28       0.25   n.a

Debt Ratios
Debt to Net Worth               0.03        0.02       0.02   n.a
Current Liab. to Liab.          1.00        1.00       1.00   n.a

Liquidity Ratios
Net Working Capital         $244,717    $358,319   $477,600   n.a
Interest Coverage               0.00        0.00       0.00   n.a

Additional Ratios
Assets to Sales                 3.14        3.55       3.94   n.a
Current Debt/Total Assets        3%          2%         2%    n.a
Acid Test                      15.92       23.31      30.07   n.a
Sales/Net Worth                 0.33        0.29       0.26   n.a
Dividend Payout                 0.00        0.00       0.00   n.a
                                                                                 Appendix

Table: Sales Forecast



Sales Forecast
                                          Jan         Feb         Mar         Apr         May         Jun          Jul        Aug         Sep         Oct         Nov         Dec
Unit Sales
Garage Door Installations                  11          11          12          11          11          12          12          12          13          13          13          13
Repairs                                    14          15          16          17          18          19          20          21          22          24          26          28
Total Unit Sales                           25          26          28          28          29          31          32          33          35          37          39          41

Unit Prices                                Jan        Feb         Mar          Apr        May          Jun         Jul        Aug         Sep          Oct        Nov         Dec
Garage Door Installations            $1,200.00   $1,200.00   $1,200.00   $1,200.00   $1,200.00   $1,200.00   $1,200.00   $1,200.00   $1,200.00   $1,200.00   $1,200.00   $1,200.00
Repairs                                 $85.00      $85.00      $85.00      $85.00      $85.00      $85.00      $85.00      $85.00      $85.00      $85.00      $85.00      $85.00

Sales
Garage Door Installations             $13,200     $13,200     $14,400     $13,200     $13,200     $14,400     $14,400     $14,400     $15,600     $15,600     $15,600     $15,600
Repairs                                $1,190      $1,275      $1,360      $1,445      $1,530      $1,615      $1,700      $1,785      $1,870      $2,040      $2,210      $2,380
Total Sales                           $14,390     $14,475     $15,760     $14,645     $14,730     $16,015     $16,100     $16,185     $17,470     $17,640     $17,810     $17,980

Direct Unit Costs                         Jan        Feb         Mar          Apr        May          Jun         Jul        Aug         Sep          Oct        Nov         Dec
Garage Door Installations   20.00%    $240.00     $240.00     $240.00     $240.00     $240.00     $240.00     $240.00     $240.00     $240.00     $240.00     $240.00     $240.00
Repairs                     20.00%     $17.00      $17.00      $17.00      $17.00      $17.00      $17.00      $17.00      $17.00      $17.00      $17.00      $17.00      $17.00

Direct Cost of Sales
Garage Door Installations              $2,640      $2,640      $2,880      $2,640      $2,640      $2,880      $2,880      $2,880      $3,120      $3,120      $3,120      $3,120
Repairs                                  $238        $255        $272        $289        $306        $323        $340        $357        $374        $408        $442        $476
Subtotal Direct Cost of                $2,878      $2,895      $3,152      $2,929      $2,946      $3,203      $3,220      $3,237      $3,494      $3,528      $3,562      $3,596
Sales
                                                                       Appendix

Table: Profit and Loss



Pro Forma Profit and
Loss
                                   Jan       Feb       Mar       Apr        May        Jun        Jul       Aug       Sep       Oct       Nov       Dec
Sales                          $14,390   $14,475   $15,760   $14,645     $14,730   $16,015   $16,100    $16,185   $17,470   $17,640   $17,810   $17,980
Direct Cost of Sales            $2,878    $2,895    $3,152    $2,929      $2,946    $3,203    $3,220     $3,237    $3,494    $3,528    $3,562    $3,596
Other Costs of Sales                $0        $0        $0        $0          $0        $0        $0         $0        $0        $0        $0        $0
Total Cost of Sales             $2,878    $2,895    $3,152    $2,929      $2,946    $3,203    $3,220     $3,237    $3,494    $3,528    $3,562    $3,596

Gross Margin                   $11,512   $11,580   $12,608   $11,716     $11,784   $12,812   $12,880    $12,948   $13,976   $14,112   $14,248   $14,384
Gross Margin %                 80.00%    80.00%    80.00%    80.00%      80.00%    80.00%    80.00%     80.00%    80.00%    80.00%    80.00%    80.00%


Expenses
Payroll                            $0        $0        $0        $0          $0        $0         $0        $0        $0        $0        $0        $0
Marketing/Promotion              $500      $505      $510      $515        $520      $525       $530      $535      $540      $545      $550      $556
Depreciation                       $0        $0        $0        $0          $0        $0         $0        $0        $0        $0        $0        $0
Payroll Taxes            15%       $0        $0        $0        $0          $0        $0         $0        $0        $0        $0        $0        $0
Other                            $600      $606      $612      $618        $624      $630       $636      $642      $648      $654      $661      $668

Total Operating                 $1,100    $1,111    $1,122    $1,133      $1,144    $1,155    $1,166     $1,177    $1,188    $1,199    $1,211    $1,224
Expenses

Profit Before Interest         $10,412   $10,469   $11,486   $10,583     $10,640   $11,657   $11,714    $11,771   $12,788   $12,913   $13,037   $13,160
and Taxes
EBITDA                         $10,412   $10,469   $11,486   $10,583     $10,640   $11,657   $11,714    $11,771   $12,788   $12,913   $13,037   $13,160
 Interest Expense                   $0        $0        $0        $0          $0        $0        $0         $0        $0        $0        $0        $0
 Taxes Incurred                 $3,124    $3,141    $3,446    $3,175      $3,192    $3,497    $3,514     $3,531    $3,836    $3,874    $3,911    $3,948

Net Profit                      $7,288    $7,328    $8,040    $7,408      $7,448    $8,160    $8,200     $8,240    $8,952    $9,039    $9,126    $9,212
Net Profit/Sales               50.65%    50.63%    51.02%    50.58%      50.56%    50.95%    50.93%     50.91%    51.24%    51.24%    51.24%    51.23%
                                                                       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                          $16,100   $16,100   $16,100   $16,100    $16,100   $16,100   $16,100   $16,100   $16,100   $16,100   $16,100   $16,100
Subtotal Cash from                  $16,100   $16,100   $16,100   $16,100    $16,100   $16,100   $16,100   $16,100   $16,100   $16,100   $16,100   $16,100
Operations

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                   $0        $0        $0        $0         $0        $0        $0        $0        $0        $0        $0        $0
(interest-free)
New Long-term Liabilities               $0        $0        $0        $0         $0        $0        $0        $0        $0        $0        $0        $0
Sales of Other Current                  $0        $0        $0        $0         $0        $0        $0        $0        $0        $0        $0        $0
Assets
Sales of Long-term Assets                $0        $0        $0        $0         $0        $0        $0        $0        $0        $0        $0        $0
New Investment Received                  $0        $0        $0        $0   $500,000        $0        $0        $0        $0        $0        $0        $0
Subtotal Cash Received              $16,100   $16,100   $16,100   $16,100   $516,100   $16,100   $16,100   $16,100   $16,100   $16,100   $16,100   $16,100
                                                                 Appendix


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                   $262     $7,854    $7,862    $7,870     $7,877     $7,885     $7,893     $7,900     $7,908     $7,916     $7,924     $7,932
Subtotal Spent on               $262     $7,854    $7,862    $7,870     $7,877     $7,885     $7,893     $7,900     $7,908     $7,916     $7,924     $7,932
Operations

Additional Cash Spent
Sales Tax, VAT, HST/GST           $0        $0        $0        $0         $0         $0         $0         $0         $0         $0         $0         $0
Paid Out
Principal Repayment of            $0        $0        $0        $0         $0         $0         $0         $0         $0         $0         $0         $0
Current Borrowing
Other Liabilities Principal       $0        $0        $0        $0         $0         $0         $0         $0         $0         $0         $0         $0
Repayment
Long-term Liabilities             $0        $0        $0        $0         $0         $0         $0         $0         $0         $0         $0         $0
Principal Repayment
Purchase Other Current            $0        $0        $0        $0         $0         $0         $0         $0         $0         $0         $0         $0
Assets
Purchase Long-term Assets         $0         $0        $0        $0   $345,000         $0         $0         $0         $0         $0         $0         $0
Dividends                         $0         $0        $0        $0         $0         $0         $0         $0         $0         $0         $0         $0
Subtotal Cash Spent             $262     $7,854    $7,862    $7,870   $352,877     $7,885     $7,893     $7,900     $7,908     $7,916     $7,924     $7,932

Net Cash Flow                 $15,838    $8,246    $8,238    $8,230   $163,223     $8,215     $8,207     $8,200     $8,192     $8,184     $8,176     $8,168
Cash Balance                  $15,838   $24,084   $32,322   $40,552   $203,775   $211,990   $220,197   $228,397   $236,589   $244,773   $252,949   $261,117
                                                                                  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                                   $0   $14,153    $21,525    $30,119    $37,061    $199,552    $208,266    $216,510    $224,793    $234,298    $243,417    $252,624    $261,917
Other Current Assets                   $0        $0         $0         $0         $0          $0          $0          $0          $0          $0          $0          $0          $0
Total Current Assets                   $0   $14,153    $21,525    $30,119    $37,061    $199,552    $208,266    $216,510    $224,793    $234,298    $243,417    $252,624    $261,917

Long-term Assets
Long-term Assets                       $0        $0         $0         $0         $0    $345,000    $345,000    $345,000    $345,000    $345,000    $345,000    $345,000    $345,000
Accumulated                            $0        $0         $0         $0         $0          $0          $0          $0          $0          $0          $0          $0          $0
Depreciation
Total Long-term Assets                 $0        $0         $0         $0         $0    $345,000    $345,000    $345,000    $345,000    $345,000    $345,000    $345,000    $345,000
Total Assets                           $0   $14,153    $21,525    $30,119    $37,061    $544,552    $553,266    $561,510    $569,793    $579,298    $588,417    $597,624    $606,917

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

Current Liabilities
Accounts Payable                      $0     $6,865     $6,908     $7,462     $6,996      $7,039      $7,593      $7,637      $7,680      $8,234      $8,314      $8,395      $8,476
Current Borrowing                     $0         $0         $0         $0         $0          $0          $0          $0          $0          $0          $0          $0          $0
Other Current Liabilities         $8,724     $8,724     $8,724     $8,724     $8,724      $8,724      $8,724      $8,724      $8,724      $8,724      $8,724      $8,724      $8,724
Subtotal Current                  $8,724    $15,589    $15,632    $16,186    $15,720     $15,763     $16,317     $16,361     $16,404     $16,958     $17,038     $17,119     $17,200
Liabilities

Long-term Liabilities                 $0         $0         $0         $0         $0          $0          $0          $0          $0          $0          $0          $0          $0
Total Liabilities                 $8,724    $15,589    $15,632    $16,186    $15,720     $15,763     $16,317     $16,361     $16,404     $16,958     $17,038     $17,119     $17,200

Paid-in Capital                        $0         $0         $0         $0         $0   $500,000    $500,000    $500,000    $500,000    $500,000    $500,000    $500,000    $500,000
Retained Earnings                ($8,758)   ($8,724)   ($8,724)   ($8,724)   ($8,724)    ($8,724)    ($8,724)    ($8,724)    ($8,724)    ($8,724)    ($8,724)    ($8,724)    ($8,724)
Earnings                              $34     $7,288   $14,617    $22,657    $30,065     $37,513     $45,673     $53,873     $62,112     $71,064     $80,103     $89,229     $98,441
Total Capital                    ($8,724)   ($1,436)     $5,893   $13,933    $21,341    $528,789    $536,949    $545,149    $553,388    $562,340    $571,379    $580,505    $589,717
Total Liabilities and                  $0   $14,153    $21,525    $30,119    $37,061    $544,552    $553,266    $561,510    $569,793    $579,298    $588,417    $597,624    $606,917
Capital

Net Worth                        ($8,724)   ($1,436)    $5,893    $13,933    $21,341    $528,789    $536,949    $545,149    $553,388    $562,340    $571,379    $580,505    $589,717
                                                               Appendix


				
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Description: This Business Plan for a Garage Door Repair Services 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.