Online Boutique Business Plan

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The business plan outlines the launch of an online boutique called Avante that will offer semi-couture womenswear. It will focus on diversity and inclusivity with beautifully crafted pieces. The financial projections forecast steady growth over three years.

Avante will offer its own proprietary clothing label focused on contemporary and avant-garde womenswear including items like a casual jumper, patchwork jacket, and contemporary overalls.

The target market is women interested in fashionable, unique clothing. The plan identifies the target market segment as women ages 25-45 with disposable incomes.

Online Boutique

BUSINESS
PLAN
Your fashion defines you

Prepared By 10200 Bolsa Ave, Westminster, CA, 92683

John Doe [email protected]

(650) 359-3153 https://upmetrics.co


Table of Contents

Executive summary 4
Problem Definition & Validation 5
Solution 5
SMART Goal 6
Mission statement 7
Keys to success 7
Financial highlights 8
Avante - 5 Year Highlights 8
Chart 8
Business overview 9
Company Ownership/Legal Entity 10
Location 10
Interior Operating Facilities 11
Hours of Operation 11
Startup summary 11
Products & Services 12
The Collection 13
Casual Jumper 13
Patchwork Jacket 14
Contemorary Overalls 14
Production Process 14
Market Analysis 15
Market segmentation 16
Shoes Segment 16
Accessories and Bags 16
Jewelry and Bags 16
Market Trends 16
Target market 17
Competitive Advantages 17
SWOT analysis 18

Strategy & implementation 21


Marketing and Promotion Programs 22
Direct Sales 22
Trade Publications 22

1 / 38
Trade shows 22
Website 23
Targeted Online Advertising 23
Positioning Statement 23
Sales strategy 23
Target Market Segment 23
Online Marketing Channels 24
Offline Marketing Channels 24
Pricing strategy 25
Operational Plan 26
Organization chart 27
Chart 27
Mr Allen 27
Jane Doe 27
Jane Green 27
John Doe 27
Management Team 27
Personnel Plan 28
Hiring plan 28
Milestones 29
AVANTE 29
Financial plan 30
Important Assumptions 31
Brake-even Analysis 31
Projected Profit and Loss 31
Profit Yearly 33
Chart 33
Gross Margin Yearly 33
Chart 33
Projected Cash Flow 34
Projected Balance Sheet 35
Business Ratios 36

2 / 38
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1.

Executive summary
Problem Definition & Validation
Solution
Mission statement
Keys to success
Financial highlights

[YEAR ] Bus ines s Plan | Online Boutique 4 / 38


Avante will offer semi-couture womenswear through its eponymous and
proprietary label that intersects the contemporary and the avant-garde. The
label will focus on diversity and inclusivity, with each piece being beautifully
crafted wearable art. Aligning itself with the ideals of fashion contemporaries
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such as Balenciaga and Marine Serre, the constituentsToofunlock
the brand will reflect,

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Problem Definition & Validation

The fashion industry in the US has, along with its global counterparts, been
battling systemic problems of poverty, economic inequality, color and size
discrimination, climate change, and environmental degradation. The industry
still falls short of respecting and protecting the environment, both in the US and
help try Upmetrics! 
in other countries with which it trades. The way fashionToisunlock
produced and

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Solution

Avante believes that change in the fashion industry needs to happen at three,
different yet interrelated levels: government, industry, and culture. The
government has been taking initiatives to uphold its end of the bargain by
ensuring, if not demanding fashion brands to respect and protect human rights
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and the environment through various legal and formal commitments, including

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[YEAR ] Bus ines s Plan | Online Boutique 5 / 38


SMART Goal

Specific Measurable Achievable


To begin commercial To achieve break-even To gain a competitive
operations in New York by sales in Year 2. edge within the country’s
Q1 2022 moving and storage
industry by establishing a
presence in the world’s
leading manufacturing
sector.

Relevant Time-Based
To leverage the To build a market
company’s position in New reputation for superior
York, the fashion capital of networks, efficient
America to expand services, and reliable
operations beyond the delivery timelines during
state to envelope regions the forecast period.
across North America
during the forecast
period.

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Mission statement

Our mission is to introduce a semi-couture women's brand that champions


individuality in women and free expression. Our avant-garde designs will be
hand-crafted with the utmost care and precision while being considerate of the
environment and community.
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Keys to success

On-Demand Sourcing Strategy


The company will take an on- The company will only use
demand approach to production. sustainable and deadstock fabric for
Taking orders from individual clients its designs. Textile that would
and retailers alike, the company will otherwise be fated for the
take order through its website and incinerator will be given a new
the' production will take place only vision through Avante’s designs. By
on-demand. using deadstock fabric, Avante
addresses the painful problem of
fashion consumption.

Effective Marketing Location


The company will employ direct New York is not only the fashion
sales and marketing strategies to capital of Amercia, but it also
personally approach prospective benefits from low operating costs,
clients so that they may provide a competitive tax rates and
more efficient and highly streamlined regulatory processes.
personalised service. This will reduce the company's
overheads which can then be
translated into competitive pricing.

Access to Skilled Carriers Sustainable


Avante will ensure on-boarding only Avante uses deadstock fabric as its
experienced and skilled primary input material. Fabric that
seamstresses, pattern makers and has been discarded due to printing
designers . Highly experienced mistakes, overproduction and colour
personnel will enhance its service discrepancies become an
offerings in the US inspirational material bank for the
company’s principal designer.

Financial highlights
[YEAR ] Bus ines s Plan | Online Boutique 7 / 38
Financial highlights

The company envisions raising an equity investment of $50,000 through long-


term borrowings, which will be used to set up and launch the business in the
US. The company expects to break even in Year 2 and steadily grow its
revenues through active efforts in marketing, networking, excellent customer
help try Upmetrics! 
service, and increased carrier capabilities. Meanwhile, To
theunlock
company will

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Avante - 5 Year Highlights

Sales Gross Margin Net Profit


2.00M

1.50M

1.00M

500.00k

-500.00k
2021-22 2022-23 2023-24

Financial Year Sales Gross Margin Net Profit

2021-22 438937 83512 -20568

2022-23 1005905 189844 40379

2023-24 1437224 271136 65234

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2.

Business overview
Company Ownership/Legal Entity
Location
Interior Operating Facilities
Hours of Operation
Startup summary

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The fashion industry in the US and globally has been battling systemic poverty,
economic inequality, color and size discrimination, climate change, and
environmental degradation. To meet the insatiable consumer demand, the
industry produces nearly 100 billion pieces of clothing each year. Furthermore,
unlock help try Upmetrics! 
at least 25% of fabric purchased from textile mills and To
garment factories are

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Company Ownership/Legal Entity

The company will be registered as a limited liability entity with the Department
of State. Further, since the company envisions setting up operations in New
York, it will also register with the local county. The business will be wholly
owned and managed by the Founder Mr. Allen, who will also be the principal
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investor of the business.

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Location

Avante will begin operations from an office space in New York. Known as the
“Fashion Capital,” New York state is home to 2.1 million small businesses and
4 million small business employees, which is more than 50 percent of the
private workforce. New York’s economy is the third-largest in the country.
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Business owners thrive by being around other entrepreneurs and there are
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[YEAR ] Bus ines s Plan | Online Boutique 10 / 38


Interior Operating Facilities

The company will predominantly conduct its design and conception work from
its home studio. Avante leverages seamstresses and pattern makers to
complete its sample projects and displays the products online. Clients can then
place orders for their choice of dresses and have them delivered to their
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doorstep.

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Hours of Operation

Avante will operate an 8-hour workday from 9 am to 5 pm. Working through


online-only channels, the company's workday comprises of fulfilling orders and
preparing for shipping. As such, no additional work hours are required to be put
in to meet its deadlines.
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Startup summary

The Founder will infuse a capital sum of $25,000 into the company.

A portion of the initial capital investment of $25,000 will be utilized to finance a


range of expenses incurred before the launch of the company, as indicated in
the table below. Accordingly, approximately $9,000 willTobeunlock
spenthelp variety of
ontrya Upmetrics!
start-up expenses (reflected in the top half of the below expense schedule). At
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3.
Products &
Services
The Collection
Production Process

[YEAR ] Bus ines s Plan | Online Boutique 12 / 38


As a full-service fashion production and styling company, Avante's online
boutique brings a distinctive aesthetic to the thriving fashion scene in New
York. Founder Mr. Allen’s expertise lies in harnessing a unique perspective on
rejected and disregarded deadstock fabric and presenting them in a dramatic,
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versatile, surreal, artistic, and bold form. The fashion collection embodies

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The Collection

The latest iterations of the designer’s collection feature versatile garments,


big/voluminous skirts, bold prints, metallic fabrics, and contemporary hand
beading. Crafting one-of-a-kind masterpieces from deadstock fabrics, the
company will carve out a niche for itself through a distinctive aesthetic derived
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from its core ethos of curbing overconsumption. As theTodesigner pieces are

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Casual Jumper
Price: $150 USD

Made of cotton, this jumper is constructed entirely from


deadstock fabric.

[YEAR ] Bus ines s Plan | Online Boutique 13 / 38


Patchwork Jacket
Price: $150 USD

Classy oversized jacket make from different materials


patched together

Contemorary Overalls
Price: $150 USD

Stylish and bold patterned shorts and shirt

Production Process

The production process begins with the Founder/Designer conceptualizing the


underlying themes and motifs that permeate the collection. Ideally, the concept
development phase will be composed of the following steps:

Look for general inspiration/vision for a collectionTo unlock help try Upmetrics! 

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4.

Market Analysis
Market segmentation
Market Trends
Target market
Competitive Advantages

[YEAR ] Bus ines s Plan | Online Boutique 15 / 38


The global fashion eCommerce industry was expected to decline from $531.25
billion in 2019 to $485.62 billion in 2020. The negative compound annual
growth rate (CAGR) of -8.59% is largely due to the coronavirus pandemic.
However, the market is set to recover and hit $672.71 billion by 2023.
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In the US alone, the eCommerce fashion industry accounted for 29.5% of
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Market segmentation

As a segment of eCommerce fashion, the shoe industry saw similar peaks in


market value. In the global market size, the footwear segment will increase
from $365.5 billion in 2022 to $530.3 billion in 2027.

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Asia is dominating this segment, holding 54% of the global Upmetrics! 
help trymarket
footwear
(compared to just 14.8% for Europe and North America, respectively).

Shoes Segment
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Not surprising, the bags and accessories segment—although still growing at a


stronger rate—will likewise see its double-digit growth—15.6% in 2018—dip
into the single digits—8.7%—by 2022.

Those projections actually make bags and accessoriesToone


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helphealthiest
of the
segments of eCommerce fashion, despite its absolute numbers being the

Accessories and Bags


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In 2019, the global jewelry market was valued at a total of $229.3 billion. It’s
forecast to reach $291.7 billion by 2025.

The growth (despite coronavirus-related recessions) mirror other financial


To unlock
crises. McKinsey predicts that consumers will “return more help try
quickly paying 
to Upmetrics!
full price for quality, timeless goods, as was the case after the 2008–2009

Jewelry and Bags


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Market Trends

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Lower digital barriers to entry for all clothing merchants offer the opportunity to
market, sell, and fulfill orders globally and automatically. As a result, worldwide
revenue and revenue per user (ARPU) are both projected to grow.

In Europe alone, it’s expected that each consumer will To unlock$921


spend help try fashion- 
onUpmetrics!
related items over the course of a year.
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Target market

Avante positions itself as a full-service fashion production company that offers


a distinctive aesthetic to the fashion scene in New York. The products will
appeal to women who are advocates of free expression and individuality as
well as those desiring to evoke confidence, charm, and novelty through
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fashion. Its channel strategies will include both B2B and B2C sales and

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Competitive Advantages

The attributes that provide Avante an edge also helps it stand out among its
competition. The company largely competes with these brands for its market
as they share the target market persona. Each of the above brands along with
the designs of Avante appeals to confident, independent, and bold women.
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What helps Avante stand out is the designer’s approach. The core ethos of

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5.

SWOT analysis

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A SWOT (Strength, Weakness, Opportunity, and Threat) analysis is a useful
tool for businesses to evaluate their position in the market against the potential
internal and external factors that could assist or jeopardize their operations and
existence. A SWOT has been conducted for PYT and is presented below.
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Strengths Weaknesses

1. The company benefits from extensive 1. An increasing number of competitors


insight and market expertise. within the industry leads to market
2. The flexible and robust range of share erosion.
services ensures the company's 2. The company is relatively new to the
capabilities to cater to a more US market, in which seasoned players
significant market share. dominate.
3. The company is based in New York, 3. The high rate of competition within the
which contains the right talent, industry and the fragmented nature of
infrastructure, support services, and the market makes the sector price
capital availability. sensitive.
4. The Founder’s success portfolio and
global clientele provide credibility and
increase trust among its potential
clients.
5. Strategic collaborations enrich the
services of the company with leading
industry experts and global logistic
providers.

S W
Opportunities Threats

1. Partnering with leading logistic Competitors eroding the market


providers to extend their market Low barriers to entry
offering
Competitors poaching B2B clients
2. Mr. Allen’s skill in tactfully combining
Any change in the trading regulations
customer relationship management and
of the country will impact the
supply networks to achieve an
operations of the company
organizational goal opens up
opportunities within challenging and
risk intensive markets
3. The company possess the capabilities
to extend its offerings globally

O T

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6.
Strategy &
implementation
Marketing and Promotion Programs
Positioning Statement
Sales strategy
Pricing strategy

[YEAR ] Bus ines s Plan | Online Boutique 21 / 38


The company will predominantly rely on online advertising and lead generation
strategies as many seeking logistic services first search online for information.
As such, a full-fledged online marketing campaign will be launched inclusive of
paid, social media, and website campaigns.
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Marketing and Promotion Programs

Avante will approach potential commercial clients directly, either through cold-
calling or e-mail to arrange pitch meetings. The company’s sales
representatives will use these opportunities to display the product catalog
directly.
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Direct Sales
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The Company will advertise in specific trade publications that are targeted
towards the appropriate target markets such as the New York Fashion
Magazine.

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Trade Publications
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Avante will establish a presence at various trade shows that are relevant to the
target market. For example, the New York Fashion Week is an annual
exhibition that is considered the US’s premier freight transport, logistics, and
supply chain management event.
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Trade shows
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[YEAR ] Bus ines s Plan | Online Boutique 22 / 38


The Company will operate a professional and compelling website dedicated to
specific market segments

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Website
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The focus will be on Google Ads, which are more likely to drive commercial
leads than other online advertising platforms (such as Facebook). The
advertising will target specific keywords relevant to Avante’s offering

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Targeted Online Advertising


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Positioning Statement

Avante positions itself as a full-service fashion production company that offers


a distinctive aesthetic to the fashion scene in New York. The products will
appeal to women who are advocates of free expression and individuality as
well as those desiring to evoke confidence, charm, and novelty through
To unlock help try Upmetrics! 
fashion. Its channel strategies will include both B2B and B2C sales and

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Sales strategy

Avante positions itself as a brand that extends semi-couture ready-to-wear


clothing. Its designs are solely for women and will initially penetrate the London
market due to the demand for it as well as the niche, yet blossoming,
preference for bold yet versatile clothing.
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Target Market Segment

[YEAR ] Bus ines s Plan | Online Boutique 23 / 38


Buyers Consumers
This shall include stockists This segment includes Avante’s
representing contemporary fashion consumers available through its
stores with a focus on womenswear personal website. The semi-luxury
able to sell ZBL’s collection of clothing will be designed to appeal
clothes. millennial females that are inclined
towards brands such as Balenciaga
and Marine Serre (whose designs
are acclaimed as edgy, semi-
luxurious, and minimalistic).

Online Marketing Channels

  
Direct Mail Marketing Social Media Google Ad Campaigns
Avante will mail professionally Millennials and consumers in The advertising will target
designed materials with its general spend a considerable specific keywords relevant to
value proposition to individuals time browsing social media Avante's offering
who may have just registered a platforms. Reaching to them
property permit or bought a through this channel will be and
house effective way to capture
attention and position its
services.

Offline Marketing Channels

[YEAR ] Bus ines s Plan | Online Boutique 24 / 38


  
Networking Referral Events
Being a part of trade The company will offer referral The company will participate in
association such as Fashion discounts and packaged leading exhibitions such as
Association services to valued, regular New York Fashion Week
clients

Pricing strategy

Avante’s semi-couture range of clothing will be priced at an average of $950


which is estimated to yield a 60% contribution margin after subtracting
production costs (excluding full-time workforce).

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[YEAR ] Bus ines s Plan | Online Boutique 25 / 38


7.

Operational Plan
Management Team
Personnel Plan
Milestones

[YEAR ] Bus ines s Plan | Online Boutique 26 / 38


The team will be headed by Managing Director Mr. Allen who will also oversee
the company's operations. Joining Mr. Allen in the Management Team, the
company will onboard a marketing specialist, seamstress, and patternmaker.

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Organization chart

Mr Allen
Managing Director

Jane Doe Jane Green John Doe


Seamstress Patternmaker Marketing Specialist

Management Team

Mr. Allen counts over 20 years of administrative and management experience,


taking on various business development activities during the period. His ability
to attract key players and build strong and lasting business relationships
enabled her to grow in capacity and responsibility. Recognized as a task-
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focused, interactive leader with meticulous attention toTo
detail and exceptional

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[YEAR ] Bus ines s Plan | Online Boutique 27 / 38


Personnel Plan

The company plans to create six full-time equivalent jobs within the first five
years of operations.

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Hiring plan

2 0 2
Filled Hired Open

Group By
FY2021 FY2022 FY2023 FY2024
Department

Marketing
0 1 1 2
Specialist

Seamstress 0 0 1 2

Patternmaker 0 1 1 2

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Milestones

AVANTE

Establish
Avante will rent an office space at
the heart of New York's
commercial hub alongside
YEAR 1 developing a fully optimized and
informative website. Marketing
activities will also begin during this
stage to build awareness and
launch the brand into the market.

Gain Market Traction


The company will begin
expanding its services beyond Year 2
New York to cover other regions
around the US.

Diversify
Having externally established the
Year 3 business, the company will begin
internally expanding its service
capabilities

Grow
Begin expanding across the
US Year3
Consider market expansion
beyond US

[YEAR ] Bus ines s Plan | Online Boutique 29 / 38


8.

Financial plan
Important Assumptions
Brake-even Analysis
Projected Profit and Loss
Projected Cash Flow
Projected Balance Sheet
Business Ratios

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If you are going to start your own Online Boutique business, then make sure
you will pay special attention to your financial plan. Your financial plan should
include the details about how well you manage your incomes and expenses,
and how will you recover investments from the profit, etc. So, you should focus
on your financial plan if you want to expand your business on ahelp
To unlock large
try scale.
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Important Assumptions
The company’s financial projections are forecasted on the basis of the following assumptions. These
assumptions are quite conservative and are also expected to show deviation but to a limited level such
that the company’s major financial strategy will not be affected.

Year 1 Year 2 Year 3

Plan Month 1 2 3

Current Interest Rate 10,00% 11,00% 12,00%

Long-term Interest Rate 10,00% 10,00% 10,00%

Tax Rate 26,42% 27,76% 28,12%

Other 0 0 0

Brake-even Analysis

Monthly Units Break-even 5530

Monthly Revenue Break-even $159 740

Assumptions:

Average Per-Unit Revenue $260,87

Average Per-Unit Variable Cost $0,89

Estimated Monthly Fixed Cost $196 410

Projected Profit and Loss

Year 1 Year 2 Year 3

Sales $309 069 $385 934 $462 799

Direct Cost of Sales $15 100 $19 153 $23 206

Other $0 $0 $0

[YEAR ] Bus ines s Plan | Online Boutique 31 / 38


Year 1 Year 2 Year 3

TOTAL COST OF SALES $15 100 $19 153 $23 206

Gross Margin $293 969 $366 781 $439 593

Gross Margin % 94,98% 94,72% 94,46%

Expenses

Payroll $138 036 $162 898 $187 760

Sales and Marketing and Other Expenses $1 850 $2 000 $2 150

Depreciation $2 070 $2 070 $2 070

Leased Equipment $0 $0 $0

Utilities $4 000 $4 250 $4 500

Insurance $1 800 $1 800 $1 800

Rent $6 500 $7 000 $7 500

Payroll Taxes $34 510 $40 726 $46 942

Other $0 $0 $0

Total Operating Expenses $188 766 $220 744 $252 722

Profit Before Interest and Taxes $105 205 $146 040 $186 875

EBITDA $107 275 $148 110 $188 945

Interest Expense $0 $0 $0

Taxes Incurred $26 838 $37 315 $47 792

Net Profit $78 367 $108 725 $139 083

Net Profit/Sales 30,00% 39,32% 48,64%

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Profit Yearly

Profit
15.00k

10.00k

5.00k

0
Year1 Year2 Year3

Financial Year Profit

Year1 10000

Year2 12000

Year3 14000

Gross Margin Yearly

Gross Margin
15.00k

10.00k

5.00k

0
Year1 Year2 Year3

Financial Year Gross Margin

Year1 10000

Year2 12000

Year3 14000

[YEAR ] Bus ines s Plan | Online Boutique 33 / 38


Projected Cash Flow

Cash Received Year 1 Year 2 Year 3

Cash from Operations

Cash Sales $40 124 $45 046 $50 068

Cash from Receivables $7 023 $8 610 $9 297

SUBTOTAL CASH FROM OPERATIONS $47 143 $53 651 $59 359

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 $0 $0 $0

SUBTOTAL CASH RECEIVED $47 143 $53 651 $55 359

Expenditures from Operations

Cash Spending $21 647 $24 204 $26 951

Bill Payments $13 539 $15 385 $170 631

SUBTOTAL SPENT ON OPERATIONS $35 296 $39 549 $43 582

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 $0 $0 $0

Dividends $0 $0 $0

SUBTOTAL CASH SPENT $35 296 $35 489 $43 882

Net Cash Flow $11 551 $13 167 $15 683

[YEAR ] Bus ines s Plan | Online Boutique 34 / 38


Cash Received Year 1 Year 2 Year 3

Cash Balance $21 823 $22 381 $28 239

Projected Balance Sheet

Assets Year 1 Year 2 Year 3

Current Assets

Cash $184 666 $218 525 $252 384

Accounts Receivable $12 613 $14 493 $16 373

Inventory $2 980 $3 450 $3 920

Other Current Assets $1 000 $1 000 $1 000

TOTAL CURRENT ASSETS $201 259 $237 468 $273 677

Long-term Assets

Long-term Assets $10 000 $10 000 $10 000

Accumulated Depreciation $12 420 $14 490 $16 560

TOTAL LONG-TERM ASSETS $980 $610 $240

TOTAL ASSETS $198 839 $232 978 $267 117

Current Liabilities

Accounts Payable $9 482 $10 792 $12 102

Current Borrowing $0 $0 $0

Other Current Liabilities $0 $0 $0

SUBTOTAL CURRENT LIABILITIES $9 482 $10 792 $12 102

Long-term Liabilities $0 $0 $0

TOTAL LIABILITIES $9 482 $10 792 $12 102

Paid-in Capital $30 000 $30 000 $30 000

Retained Earnings $48 651 $72 636 $96 621

Earnings $100 709 $119 555 $138 401

TOTAL CAPITAL $189 360 $222 190 $255 020

TOTAL LIABILITIES AND CAPITAL $198 839 $232 978 $267 117

Net Worth $182 060 $226 240 $270 420

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Business Ratios

Year 1 Year 2 Year 3 Industry profile

Sales Growth 4,35% 30,82% 63,29% 4,00%

Percent of Total Assets

Accounts Receivable 5,61% 4,71% 3,81% 9,70%

Inventory 1,85% 1,82% 1,79% 9,80%

Other Current Assets 1,75% 2,02% 2,29% 27,40%

Total Current Assets 138,53% 150,99% 163,45% 54,60%

Long-term Assets -9,47% -21,01% -32,55% 58,40%

TOTAL ASSETS 100,00% 100,00% 100,00% 100,00%

Current Liabilities 4,68% 3,04% 2,76% 27,30%

Long-term Liabilities 0,00% 0,00% 0,00% 25,80%

Total Liabilities 4,68% 3,04% 2,76% 54,10%

NET WORTH 99,32% 101,04% 102,76% 44,90%

Percent of Sales

Sales 100,00% 100,00% 100,00% 100,00%

Gross Margin 94,18% 93,85% 93,52% 0,00%

Selling, General & Administrative Expenses 74,29% 71,83% 69,37% 65,20%

Advertising Expenses 2,06% 1,11% 0,28% 1,40%

Profit Before Interest and Taxes 26,47% 29,30% 32,13% 2,86%

Main Ratios

Current 25,86 29,39 32,92 1,63

Quick 25,4 28,88 32,36 0,84

Total Debt to Total Assets 2,68% 1,04% 0,76% 67,10%

Pre-tax Return on Net Worth 66,83% 71,26% 75,69% 4,40%

Pre-tax Return on Assets 64,88% 69,75% 74,62% 9,00%

Additional Ratios

Net Profit Margin 19,20% 21,16% 23,12% N.A.

Return on Equity 47,79% 50,53% 53,27% N.A.

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Year 1 Year 2 Year 3 Industry profile

Activity Ratios

Accounts Receivable Turnover 4,56 4,56 4,56 N.A.

Collection Days 92 99 106 N.A.

Inventory Turnover 19,7 22,55 25,4 N.A.

Accounts Payable Turnover 14,17 14,67 15,17 N.A.

Payment Days 27 27 27 N.A.

Total Asset Turnover 1,84 1,55 1,26 N.A.

Debt Ratios

Debt to Net Worth 0 -0,02 -0,04 N.A.

Current Liab. to Liab. 1 1 1 N.A.

Liquidity Ratios

Net Working Capital $120 943 $140 664 $160 385 N.A.

Interest Coverage 0 0 0 N.A.

Additional Ratios

Assets to Sales 0,45 0,48 0,51 N.A.

Current Debt/Total Assets 4% 3% 2% N.A.

Acid Test 23,66 27,01 30,36 N.A.

Sales/Net Worth 1,68 1,29 0,9 N.A.

Dividend Payout 0 0 0 N.A.

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