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Cover Page

This sample business plan has been made available to users of Business Plan Pro®, business
planning software published by Palo Alto Software, Inc. Names, locations and numbers may have
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Copyright © Palo Alto Software, Inc., 1995-2009  All rights reserved.

Legal Page

Confidentiality Agreement

The undersigned reader acknowledges that the information provided by ________________ in this
business plan is confidential; therefore, reader agrees not to disclose it without the express written
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It is acknowledged by reader that information to be furnished in this business plan is in all respects
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This is a business plan. It does not imply an offering of securities.

 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 Locations and Facilities.......................................................................................2
2.3 Start-up Summary....................................................................................................................3
Table: Start-up..............................................................................................................................3
Table: Start-up Funding.............................................................................................................4
Chart: Start-up..............................................................................................................................5
3.0 Services.............................................................................................................................................5
4.0 Market Analysis Summary.........................................................................................................6
4.1 Market Segmentation..............................................................................................................6
Table: Market Analysis................................................................................................................6
Chart: Market Analysis (Pie).....................................................................................................7
4.2 Market Analysis..........................................................................................................................7
4.3 Target Market Segment Strategy.......................................................................................7
4.4 Market Needs..............................................................................................................................7
4.5 Service Business Analysis......................................................................................................8
4.5.1 Business Participants.......................................................................................................8
4.5.2 Competition and Buying Patterns...............................................................................8
4.5.3 Distributing a Service......................................................................................................8
4.5.4 Main Competitors..............................................................................................................8
5.0 Strategy and Implementation Summary.............................................................................8
5.1 Strategy Pyramid......................................................................................................................9
5.2 Competitive Edge......................................................................................................................9
5.3 Sales Strategy............................................................................................................................9
5.3.1 Sales Forecast..................................................................................................................10
Chart: Sales Monthly.............................................................................................................10
Chart: Sales by Year..............................................................................................................10
Table: Sales Forecast............................................................................................................11
5.3.2 Sales Programs................................................................................................................11
5.4 Value Proposition.....................................................................................................................11
5.5 Milestones..................................................................................................................................12
Table: Milestones........................................................................................................................12
Chart: Milestones........................................................................................................................12
5.6 Marketing Strategy.................................................................................................................13
5.6.1 Marketing Programs.......................................................................................................13
5.6.2 Positioning Statement...................................................................................................13
5.6.3 Pricing Strategy...............................................................................................................13
5.6.4 Promotion Strategy........................................................................................................13
5.6.5 Distribution Strategy.....................................................................................................13

Page 1
 Table of Contents

6.0 Management Summary.............................................................................................................14

6.1 Personnel Plan..........................................................................................................................14
Table: Personnel..........................................................................................................................14
6.2 Organizational Structure......................................................................................................14
6.3 Management Team.................................................................................................................14
6.4 Management Team Gaps.....................................................................................................15
7.0 Financial Plan................................................................................................................................15
7.1 Important Assumptions........................................................................................................15
Table: General Assumptions...................................................................................................15
7.2 Key Financial Indicators.......................................................................................................16
Chart: Benchmarks....................................................................................................................16
7.3 Break-even Analysis...............................................................................................................17
Table: Break-even Analysis....................................................................................................17
Chart: Break-even Analysis....................................................................................................17
7.4 Projected Profit and Loss.....................................................................................................18
Chart: Gross Margin Monthly.................................................................................................18
Chart: Gross Margin Yearly.....................................................................................................18
Table: Profit and Loss................................................................................................................19
Chart: Profit Monthly.................................................................................................................20
Chart: Profit Yearly.....................................................................................................................20
7.5 Projected Cash Flow...............................................................................................................21
Table: Cash Flow.........................................................................................................................21
Chart: Cash...................................................................................................................................22
7.6 Projected Balance Sheet......................................................................................................23
Table: Balance Sheet.................................................................................................................23
7.7 Business Ratios........................................................................................................................24
Table: Ratios.................................................................................................................................24
Table: Sales Forecast..........................................................................................................................1
Table: Personnel....................................................................................................................................2
Table: Personnel....................................................................................................................................2
Table: General Assumptions.............................................................................................................3
Table: General Assumptions.............................................................................................................3
Table: Profit and Loss..........................................................................................................................4
Table: Profit and Loss..........................................................................................................................4
Table: Cash Flow...................................................................................................................................5
Table: Cash Flow...................................................................................................................................5
Table: Balance Sheet...........................................................................................................................6
Table: Balance Sheet...........................................................................................................................6

Page 2
 Margarita Momma

1.0 Executive Summary

Margarita Momma is a frozen drink machine rental service. We will specialize in church
functions, children and adult birthday parties, weddings, and barbecues. We plan to set up
concession services at local and fund-raising events within the Copperas Cove, Ft. Hood, and
Killeen areas. The frozen beverage can have alcohol, but is enjoyable without as well. However,
if the customers choose to have alcohol in the drinks, they must purchase it, and add it,
themselves. This is a unique service for the area; however, frozen drink machine rentals have
been growing throughout the nation.

The chosen beverage concentrate has natural flavorings, and few preservatives. This makes the
concentrate far superior, both in quality and in taste, to the other brands on the market. We
provide a quality far beyond that found at convenience stores which offer frozen drinks.

Margarita Momma will deliver the machine with everything necessary for making the gathering
a success. The cart delivery includes: 50 nine-ounce cups, straws, and salt (if needed for
margaritas). The only thing the customer must provide is fun! Delivery also includes the mix,
and the mixing of the first batch. This is where the customer would provide and add any alcohol
to the drinks. The cart is provided by Margarita Momma so there will be easy delivery, as well
as to minimize the chance of any furniture damage. The cart has a deep tray which will help
contain spills, and to further reduce furniture/carpet damage. Next morning's pick-up is
provided for in the rental cost, and will be performed at a time convenient for the customer.

In order to begin renting, Margarita Momma requires $11,960 to purchase three Frosty Factory
machines, ten cases of concentrate, two cases of cups, and two cases of straws.

Chart: Highlights

Highlights

$80,000

$70,000

$60,000
Sales
$50,000
Gross Margin
$40,000
Net Profit
$30,000

$20,000

$10,000

$0
Year 1 Year 2 Year 3

Page 1
 Margarita Momma

1.1 Objectives

The objectives for this business plan are specific goals which are achievable by Margarita
Momma in the first few years of operation. These objectives are outlined below:

1. Sales of $2,000 for each of the first two months, and steady growth continuing for all
of Year 1.
2. To increase from three to six machines in Year 1.
3. To go full time within nine months.

1.2 Mission

Margarita Momma will provide the community with an alternative beverage to be served at any
event for any age group. We will provide delivery, and complete setup, making the first batch
of mix for the customer. Machines will be delivered well in advance of party time so that the
mix will be ready. The cost of the rental includes: cups, one mix, salt, straws, and written
instructions. Extra mixes can be purchased for an additional charge, at the time of rental; but
one mix is sufficient for most events. Pick up the day after will also be provided for the
convenience of the customers.

1.3 Keys to Success

The following facets of Margarita Momma ensure its financial success:

1. Unique services, unmatched in both quality and presentation.

2. Low operating overhead.
3. Beneficial word-of-mouth advertising.
4. A healthy, versatile drink which is suitable for all ages.

2.0 Company Summary

Margarita Momma is a new company to this area that provides frozen beverage machine rentals
to the individual, whether it's a nonprofit organization or a child's birthday party. The frozen
beverage is versatile; it can be either a slurpee or a frozen cocktail.

2.1 Company Ownership

Margarita Momma will be created as a Sole Proprietorship, owned by its founder, Greta Guidry.
The company will be operated from the owner's home.

2.2 Company Locations and Facilities

This business will be operated out of my residence at (address withheld for sample plan
purposes).

Page 2
 Margarita Momma

2.3 Start-up Summary

Our start-up costs come to $11,960. This number includes three machines, three carts, mix,
cups, straws, magnetic sign for delivery vehicle, business cards, and flyers. The details are
included in the following table and chart.

Table: Start-up

Start-up

Requirements

Start-up Expenses
Legal $11
Business Cards $10
Brochures, Flyers, etc. $20
Software $90
Magnetic Sign $30
Total Start-up Expenses $161

Start-up Assets
Cash Required $839
Start-up Inventory $700
Other Current Assets $1,260
Long-term Assets $9,000
Total Assets $11,799

Total Requirements $11,960

Page 3
 Margarita Momma

Table: Start-up Funding

Start-up Funding
Start-up Expenses to Fund $161
Start-up Assets to Fund $11,799
Total Funding Required $11,960

Assets
Non-cash Assets from Start-up $10,960
Cash Requirements from Start-up $839
Additional Cash Raised $0
Cash Balance on Starting Date $839
Total Assets $11,799

Liabilities and Capital

Liabilities
Current Borrowing $0
Long-term Liabilities $10,960
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $10,960

Capital

Planned Investment
Greta Guidry $1,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $1,000

Loss at Start-up (Start-up Expenses) ($161)

Total Capital $839

Total Capital and Liabilities $11,799

Total Funding $11,960

Page 4
 Margarita Momma

Chart: Start-up

Start-up

$12,000

$10,000

$8,000

$6,000

$4,000

$2,000

$0
Expenses Assets Investment Loans

3.0 Services

Margarita Momma offers frozen drink machine rentals with complete delivery, setup, and
pickup. We will be the first business of its kind in the area.

Product quality will include a large variety of tropical- and regular-flavored syrups. Margarita
Momma has pledged to use only the healthiest, freshest ingredients for our frozen drinks. The
brand Margarita Man margarita mix has been chosen because it has natural lemon and lime
flavors and real lime juice. Extra natural flavoring can be used by adding Triple Sec Liqueur.
Very few preservatives are added to enhance the freshness of our product. The result is a
unique citrus-fruit-flavored margarita mix that can also be used as an excellent sweet 'n sour.
No other bar mix out there is fruitier. We will grow to include the full line of 11 flavors, mixed to
the same standards of quality.

Current concentrate flavors available are:

 Strawberry Daiquiri
 Margarita
 Louisiana Hurricane
 Peach Bellini
 Bordermilk (Lemon Freeze)
 Razzmatazzberry
 Pina Colada
 Go Mango
 Go Banana
 Goombay Smash (Rum Punch)
 Tropical Punch
 Neutral Base

Page 5
 Margarita Momma

4.0 Market Analysis Summary

Although the name is Margarita Momma, we want to stress that this service is for everyone who
plans a gathering. Every household, business, church, or event is a potential customer. From
weddings to barbecues, from Lampasas to Harker Heights, the fun and convenience catches on
like wildfire as everyone at the event enjoys a delicious frozen drink.

Some examples of excellent rental/concession opportunities are:

 Rabbit Fest
 4th of July
 Hood Howdy
 Taste of Cove
 Weddings
 Club Fundraisers
 National Night Out
 Downtown Party
 St. Patrick's Day
 New Years Eve
 Family Reunions

Currently, at these types of events, customers have a choice of purchasing soda or snow cones.
And, while delicious in their own right, there is something missing from these two choices. We
have an excellent alternative; Margarita Momma will provide a quality beverage, with real fruit
flavoring and few preservatives. These drinks are far superior to the taste of a snowcone or a
slurpee, and more nutritious than a soda.

4.1 Market Segmentation

Margarita Momma will target all segments of the population--children, teenagers, and adults--
through rentals and concession stands at local events. This is truly a beverage people of all
ages can enjoy. It is a fun, affordable alternative to the familiar party beverages that are
available. Our market segmentation will focus more on areas of service than on potential
customers. The only limitation would be how far the company is willing to travel and how much
area can be covered through our advertising plans.

Table: Market Analysis

Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Copperas Cove 500% 10 60 360 2,160 12,960 500.00%
Killeen 600% 20 140 980 6,860 48,020 600.00%
Ft. Hood 700% 15 120 960 7,680 61,440 700.00%
Total 622.20% 45 320 2,300 16,700 122,420 622.20%

Page 6
 Margarita Momma

Chart: Market Analysis (Pie)

Market Analysis (Pie)

Copperas Cove

Killeen

Ft. Hood

4.2 Market Analysis

Although this is a lucrative business, there are no competitors for Margarita Momma. This is
due to the fact that there are no other companies in the targeted area which provide similar
services. Margarita Momma has the advantage of being the first to market these services.

4.3 Target Market Segment Strategy

The margarita machine rental business has been EXPLODING in Texas for the last 15 years.
Now this fun, profitable business is sweeping the country. In order for Margarita Momma to get
a hold of this lucrative service, we must focus on a specific market segment whose needs
match our offerings.

The target customer is anyone planning an event and wishing to provide an original beverage
alternative for their guests. When the happy guests serve themselves, they think, "What a
great idea, I'll have Margarita Momma bring a machine to my next party." Each guest is your
next potential customer.

4.4 Market Needs

The party products market is popular, and demands quality services. Margarita Momma is able
to provide this segment with the products and services it is seeking. The unique nature of a
frozen drink machine service demands it be an indispensable part of any celebration or
gathering.

The market for party products is growing throughout Texas--as well as the rest of the country.
Margarita Momma has the advantage of being an originator in South Central Texas.

Page 7
 Margarita Momma

4.5 Service Business Analysis

As mentioned in the previous sections, there is no relevant competition for Margarita Momma at
this time. This is a novel business in an exciting, expanding new industry; we are set up to reap
the benefits of being pioneers within this area of Texas. That is not to say we would be unable
to compete with a business offering the same services. We intend to entrench ourselves so fully
in the segment, that our customers would never dream of using anyone else for their party
needs. We will be the company that a new business will be wary of.

4.5.1 Business Participants

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

4.5.2 Competition and Buying Patterns

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

4.5.3 Distributing a Service

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

4.5.4 Main Competitors

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

5.0 Strategy and Implementation Summary

The beginning operation of Margarita Momma will be basic, with three machines, and three
flavors of mix. It is imperative to the success of the company that smart financial decisions are
made, and that the business does not expand too quickly; this could result in not having the
funds necessary to operate. Flavors, machines, and an expanded service area will be added as
they become necessary. This is a process we see as taking place over the first two years of
Page 8
 Margarita Momma

operation. We plan to expand the flavor choice from the basic three to the full eleven that are
available. Additional machines will be purchased in order to better serve an ever-expanding
customer base. Within two years, we hope to be serving the Kempner, Lampasas, and Belton
areas; this will expand our range to almost a fifty-mile service area.

5.1 Strategy Pyramid

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

5.2 Competitive Edge

We start with a critical edge--there is no direct competition at this point, closer than Austin,
which is almost one hundred miles away. Available options for this area include: the snow cone
trolley, purchasing the separate ingredients and using a blender to make frozen drinks, or
canned drinks purchased at retail stores. Fundraising options would be provided by Pepsi and
Coca-Cola distributors from the nearby Temple area. These options all pale when compared
with the lively taste and nutritious quality of Margarita Momma's frozen beverages.

Customers will be reached through advertisements such as business cards, flyers, newspaper
ads, a website, and through word-of-mouth from satisfied customers. It is our goal to make
each occasion the best it can be. By doing our utmost to ensure this, we expect positive
feedback from our customers. It is our hope, then, that these satisfied customers will not be
stingy with their praise for the company, and spread the word about us.

5.3 Sales Strategy

We will provide first-rate service during each aspect of rental: from time of booking, to setup,
and all the way through to pickup. Each member of the Margarita Momma team will be adept at
both sales and social skills. It is our goal to be the most friendly, knowledgeable business in the
area. This will help Margarita Momma become number one in sales, and it will contribute to
remaining number one.

Page 9
 MonthM7
Margarita Momma

MonthMonth
4 Month
5 6
5.3.1 Sales Forecast

Month 3
The following table and chart give a run-down on forecasted sales.  We expect sales to increase

MonthMonth 2
dramatically as name recognition and word-of-mouth advertising grows.

1
Chart: Sales Monthly

Sales Monthly

$6,000

$5,000

$4,000 Machine Rental

Extra Mix
$3,000
Other
$2,000

$1,000

$0

Chart: Sales by Year

Sales by Year

$80,000

$70,000

$60,000
Machine Rental
$50,000
Extra Mix
$40,000 Other
$30,000

$20,000

$10,000

$0
Year 1 Year 2 Year 3

Page 10
 Margarita Momma

Table: Sales Forecast

Sales Forecast
Year 1 Year 2 Year 3
Unit Sales
Machine Rental 572 650 750
Extra Mix 245 300 350
Other 0 0 0
Total Unit Sales 817 950 1,100

Unit Prices Year 1 Year 2 Year 3

Machine Rental $100.00 $100.00 $100.00
Extra Mix $15.00 $15.00 $15.00
Other $0.00 $0.00 $0.00

Sales
Machine Rental $57,200 $65,000 $75,000
Extra Mix $3,675 $4,500 $5,250
Other $0 $0 $0
Total Sales $60,875 $69,500 $80,250

Direct Unit Costs Year 1 Year 2 Year 3

Machine Rental $7.60 $7.60 $7.60
Extra Mix $4.80 $4.80 $4.80
Other $0.00 $0.00 $0.00

Direct Cost of Sales

Machine Rental $4,347 $4,940 $5,700
Extra Mix $1,176 $1,440 $1,680
Other $0 $0 $0
Subtotal Direct Cost of Sales $5,523 $6,380 $7,380

5.3.2 Sales Programs

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

5.4 Value Proposition

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

Page 11
 Margarita Momma

5.5 Milestones

The accompanying table lists important program milestones, with dates and persons in charge,
and budgets for each. The milestone schedule indicates our emphasis on planning for
implementation.

Table: Milestones

Milestones

Milestone Start Date End Date Budget Manager Department

Business plan 10/1/2000 10/31/2000 $90 Greta Guidry Owner
Logo design 10/1/2000 1/1/2001 $0 Kelley Guidry Department
Business cards 10/15/2000 11/1/2000 $40 Rachel Guidry Department
Flyers 10/12/2000 11/1/2000 $20 Kelley Guidry Department
Magnetic sign for vehicle 10/15/2000 11/1/2000 $30 Greta Guidry Owner
Website 11/15/2000 3/30/2001 $100 Greta Guidry Owner
New phone number 10/25/2000 11/1/2000 $100 Greta Guidry Owner
Totals $380

Chart: Milestones

Milestones

Business plan

Logo design

Business cards

Flyers

Magnetic sign for vehicle

Website

New phone number

Oct `00 Nov Dec Jan `01 Feb Mar

Page 12
 Margarita Momma

5.6 Marketing Strategy

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

5.6.1 Marketing Programs

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

5.6.2 Positioning Statement

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

5.6.3 Pricing Strategy

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

5.6.4 Promotion Strategy

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

5.6.5 Distribution Strategy

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
Page 13
 Margarita Momma

checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

6.0 Management Summary

Margarita Momma will be a family-based business. Greta Guidry has worked for the Army Air
Force Exchange (AAFES) over the past 18 years in several different positions, from cashier to
manager. Through these positions, Greta has gained great knowledge of the service industry, of
being an efficient manager, and a feel for stocking and maintaining inventory.

The other members of her team (and family) are experienced sales professionals, and have
intimate knowledge of the frozen drink machines being utilized. All family members are
committed to the success of Margarita Momma, and have been trained in customer service and
sales in order to make this goal a reality.

6.1 Personnel Plan

Greta Guidry, the owner, will conduct daily operations of the business. Steven, Kelley, and
Michael Guidry will assist with deliveries and pickups. Because this is a family business, each
member of the family has been given responsibilities, and is more than capable of assisting in
all parts of the rental process.

Table: Personnel

Personnel Plan
Year 1 Year 2 Year 3
Payroll $11,050 $11,800 $12,500
Other $0 $0 $0
Total People 0 0 0

Total Payroll $11,050 $11,800 $12,500

6.2 Organizational Structure

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

6.3 Management Team

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

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 Margarita Momma

6.4 Management Team Gaps

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

7.0 Financial Plan

We want to finance growth mainly through cash flow. We recognize that this means we will
have to grow slowly, adding machines one at a time, not in bulk. The most important indicator
in our case is that minimal inventory will have to be stored for these rentals; this translates into
very low overhead.

There are some seasonal variations, with the months of March through September being the
hottest months in Texas. This will, as expected, mean a high rate of rentals for events such as
pool parties, Fourth of July celebrations, and barbecues. However, we expect the winter months
to be just as lucrative due to the number of holiday parties, football gatherings, and fundraising
events. We expect a light seasonal variation, with sales increasing slightly during the cooler
months. For the most part, Margarita Momma will experience a high rate of sales, regardless of
weather variations.

7.1 Important Assumptions

The financial assumptions for Margarita Momma are included in the following table.

Table: General Assumptions

General Assumptions
Year 1 Year 2 Year 3
Plan Month 1 2 3
Current Interest Rate 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00%
Tax Rate 25.42% 25.00% 25.42%
Other 0 0 0

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 Margarita Momma

7.2 Key Financial Indicators

This topic was not included in the original business plan, but is included here as a placeholder
for others using this plan as a guide.  Please remember that the default outline is flexible on
purpose, because every business plan is unique, so many excellent plans omit topics included in
the standard outline and many add additional topics.  The outline is a suggestion, not a
checklist.  You can add and delete topics easily.  Make it your plan, not the software's plan.

Chart: Benchmarks

Benchmarks

1.0
Year 1

Year 2

Year 3

0.0
Sales Operating Expenses
Gross Margin% Inventory Turnover

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7.3 Break-even Analysis

The following table and chart summarize our break-even analysis. With estimated fixed costs as
shown in the following table, we need to have 16 rentals by the end of the year to cover our
costs.

Table: Break-even Analysis

Break-even Analysis

Monthly Units Break-even 14

Monthly Revenue Break-even $1,052

Assumptions:
Average Per-Unit Revenue $74.51
Average Per-Unit Variable Cost $6.76
Estimated Monthly Fixed Cost $957

Chart: Break-even Analysis

Break-even Analysis
$600

$400

$200

$0

($200)

($400)

($600)

($800)

0 2 4 6 8 10 12 14 16 18 20 22

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7.4 Projected Profit and Loss

We expect net profits, and gross margins for FY 2001 through FY2003 as shown in the following
table.

Chart: Gross Margin Monthly

Gross Margin Monthly

$6,000

$5,000

$4,000

$3,000

$2,000

$1,000

$0
Month 1 Month 3 Month 5 Month 7 Month 9 Month 11
Month 2 Month 4 Month 6 Month 8 Month 10 Month 12

Chart: Gross Margin Yearly

Gross Margin Yearly

$80,000

$70,000

$60,000

$50,000

$40,000

$30,000

$20,000

$10,000

$0
Year 1 Year 2 Year 3

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Table: Profit and Loss

Pro Forma Profit and Loss

Year 1 Year 2 Year 3
Sales $60,875 $69,500 $80,250
Direct Cost of Sales $5,523 $6,380 $7,380
Other $0 $0 $0
Total Cost of Sales $5,523 $6,380 $7,380

Gross Margin $55,352 $63,120 $72,870

Gross Margin % 90.93% 90.82% 90.80%

Expenses
Payroll $11,050 $11,800 $12,500
Sales and Marketing and Other Expenses $280 $300 $250
Depreciation $150 $150 $150
Leased Equipment $0 $0 $0
Utilities $0 $0 $0
Insurance $0 $0 $0
Rent $0 $0 $0
Payroll Taxes $0 $0 $0
Other $0 $0 $0

Total Operating Expenses $11,480 $12,250 $12,900

Profit Before Interest and Taxes $43,872 $50,870 $59,970

EBITDA $44,022 $51,020 $60,120
Interest Expense $1,031 $916 $796
Taxes Incurred $10,803 $12,489 $15,040

Net Profit $32,038 $37,466 $44,134

Net Profit/Sales 52.63% 53.91% 55.00%

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 Margarita Momma

Chart: Profit Monthly

Profit Monthly

$3,200

$2,800

$2,400

$2,000

$1,600

$1,200

$800

$400

$0
Month 1 Month 3 Month 5 Month 7 Month 9 Month 11
Month 2 Month 4 Month 6 Month 8 Month 10 Month 12

Chart: Profit Yearly

Profit Yearly

$45,000

$40,000

$35,000

$30,000

$25,000

$20,000

$15,000

$10,000

$5,000

$0
Year 1 Year 2 Year 3

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7.5 Projected Cash Flow

The following cash flow projections show the annual amounts only. For a monthly breakdown,
please see the appendix at the end of the business plan.

Table: Cash Flow

Pro Forma Cash Flow

Year 1 Year 2 Year 3
Cash Received

Cash from Operations

Cash Sales $60,875 $69,500 $80,250
Subtotal Cash from Operations $60,875 $69,500 $80,250

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 $60,875 $69,500 $80,250

Expenditures Year 1 Year 2 Year 3

Expenditures from Operations

Cash Spending $11,050 $11,800 $12,500
Bill Payments $16,121 $20,496 $23,376
Subtotal Spent on Operations $27,171 $32,296 $35,876

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 $1,200 $1,200 $1,200
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $28,371 $33,496 $37,076

Net Cash Flow $32,504 $36,004 $43,174

Cash Balance $33,343 $69,347 $112,521

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Chart: Cash

Cash

$32,000

$28,000

$24,000

$20,000 Net Cash Flow

$16,000 Cash Balance

$12,000

$8,000

$4,000

$0
Month 1 Month 3 Month 5 Month 7 Month 9 Month 11
Month 2 Month 4 Month 6 Month 8 Month 10 Month 12

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7.6 Projected Balance Sheet

The following table represents our financial position at the end of each of the three upcoming
fiscal years.

Table: Balance Sheet

Pro Forma Balance Sheet

Year 1 Year 2 Year 3
Assets

Current Assets
Cash $33,343 $69,347 $112,521
Inventory $1,177 $1,252 $1,450
Other Current Assets $1,260 $1,260 $1,260
Total Current Assets $35,780 $71,859 $115,231

Long-term Assets
Long-term Assets $9,000 $9,000 $9,000
Accumulated Depreciation $150 $300 $450
Total Long-term Assets $8,851 $8,701 $8,551
Total Assets $44,631 $80,560 $123,782

Liabilities and Capital Year 1 Year 2 Year 3

Current Liabilities
Accounts Payable $1,993 $1,657 $1,945
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $1,993 $1,657 $1,945

Long-term Liabilities $9,760 $8,560 $7,360

Total Liabilities $11,753 $10,217 $9,305

Paid-in Capital $1,000 $1,000 $1,000

Retained Earnings ($161) $31,877 $69,343
Earnings $32,038 $37,466 $44,134
Total Capital $32,877 $70,343 $114,477
Total Liabilities and Capital $44,631 $80,560 $123,782

Net Worth $32,877 $70,343 $114,477

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7.7 Business Ratios

The following table shows standard ratios and industry comparison for SIC code 7359, rental
businesses.

Table: Ratios

Ratio Analysis
Year 1 Year 2 Year 3 Industry Profile
Sales Growth n.a. 14.17% 15.47% 7.90%

Percent of Total Assets

Inventory 2.64% 1.55% 1.17% 3.40%
Other Current Assets 2.82% 1.56% 1.02% 45.10%
Total Current Assets 80.17% 89.20% 93.09% 74.30%
Long-term Assets 19.83% 10.80% 6.91% 25.70%
Total Assets 100.00% 100.00% 100.00% 100.00%

Current Liabilities 4.47% 2.06% 1.57% 42.00%

Long-term Liabilities 21.87% 10.63% 5.95% 15.70%
Total Liabilities 26.33% 12.68% 7.52% 57.70%
Net Worth 73.67% 87.32% 92.48% 42.30%

Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 90.93% 90.82% 90.80% 0.00%
Selling, General & Administrative Expenses 38.15% 36.91% 35.50% 82.90%
Advertising Expenses 0.46% 0.43% 0.31% 1.00%
Profit Before Interest and Taxes 72.07% 73.19% 74.73% 2.60%

Main Ratios
Current 17.95 43.37 59.24 1.68
Quick 17.36 42.61 58.50 1.33
Total Debt to Total Assets 26.33% 12.68% 7.52% 57.70%
Pre-tax Return on Net Worth 130.31% 71.01% 51.69% 4.80%
Pre-tax Return on Assets 95.99% 62.01% 47.81% 11.40%

Additional Ratios Year 1 Year 2 Year 3

Net Profit Margin 52.63% 53.91% 55.00% n.a
Return on Equity 97.45% 53.26% 38.55% n.a

Activity Ratios
Inventory Turnover 5.89 5.25 5.46 n.a
Accounts Payable Turnover 9.09 12.17 12.17 n.a
Payment Days 27 33 28 n.a
Total Asset Turnover 1.36 0.86 0.65 n.a

Debt Ratios
Debt to Net Worth 0.36 0.15 0.08 n.a
Current Liab. to Liab. 0.17 0.16 0.21 n.a

Liquidity Ratios
Net Working Capital $33,787 $70,202 $113,286 n.a
Interest Coverage 42.55 55.53 75.34 n.a

Additional Ratios
Assets to Sales 0.73 1.16 1.54 n.a
Current Debt/Total Assets 4% 2% 2% n.a
Acid Test 17.36 42.61 58.50 n.a
Sales/Net Worth 1.85 0.99 0.70 n.a
Dividend Payout 0.00 0.00 0.00 n.a

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Margarita Momma

Page 25
 Appendix

Table: Sales Forecast

Sales Forecast
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Unit Sales
Machine Rental 0% 30 48 36 36 55 48 48 57 57 57 50 50
Extra Mix 0% 10 20 10 15 25 20 20 25 25 25 25 25
Other 0% 0 0 0 0 0 0 0 0 0 0 0 0
Total Unit Sales 40 68 46 51 80 68 68 82 82 82 75 75

Unit Prices Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Machine Rental $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00
Extra Mix $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00
Other $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Sales
Machine Rental $3,000 $4,800 $3,600 $3,600 $5,500 $4,800 $4,800 $5,700 $5,700 $5,700 $5,000 $5,000
Extra Mix $150 $300 $150 $225 $375 $300 $300 $375 $375 $375 $375 $375
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $3,150 $5,100 $3,750 $3,825 $5,875 $5,100 $5,100 $6,075 $6,075 $6,075 $5,375 $5,375

Direct Unit Costs Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Machine Rental 0.00% $7.60 $7.60 $7.60 $7.60 $7.60 $7.60 $7.60 $7.60 $7.60 $7.60 $7.60 $7.60
Extra Mix 0.00% $4.80 $4.80 $4.80 $4.80 $4.80 $4.80 $4.80 $4.80 $4.80 $4.80 $4.80 $4.80
Other 0.00% $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Direct Cost of Sales

Machine Rental $228 $365 $274 $274 $418 $365 $365 $433 $433 $433 $380 $380
Extra Mix $48 $96 $48 $72 $120 $96 $96 $120 $120 $120 $120 $120
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $276 $461 $322 $346 $538 $461 $461 $553 $553 $553 $500 $500

Page 1
 Appendix

Table: Personnel

Personnel Plan
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Payroll 0% $900 $900 $900 $900 $900 $900 $900 $950 $950 $950 $950 $950
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total People 0 0 0 0 0 0 0 0 0 0 0 0

Total Payroll $900 $900 $900 $900 $900 $900 $900 $950 $950 $950 $950 $950

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 Appendix

Table: General Assumptions

General Assumptions
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Tax Rate 30.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Other 0 0 0 0 0 0 0 0 0 0 0 0

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 Appendix

Table: Profit and Loss

Pro Forma Profit and Loss

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales $3,150 $5,100 $3,750 $3,825 $5,875 $5,100 $5,100 $6,075 $6,075 $6,075 $5,375 $5,375
Direct Cost of Sales $276 $461 $322 $346 $538 $461 $461 $553 $553 $553 $500 $500
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $276 $461 $322 $346 $538 $461 $461 $553 $553 $553 $500 $500

Gross Margin $2,874 $4,639 $3,428 $3,479 $5,337 $4,639 $4,639 $5,522 $5,522 $5,522 $4,875 $4,875
Gross Margin % 91.24% 90.96% 91.42% 90.96% 90.84% 90.96% 90.96% 90.89% 90.89% 90.89% 90.70% 90.70%

Expenses
Payroll $900 $900 $900 $900 $900 $900 $900 $950 $950 $950 $950 $950
Sales and Marketing and Other $20 $30 $30 $20 $20 $20 $30 $20 $20 $20 $20 $30
Expenses
Depreciation $13 $13 $13 $13 $13 $13 $13 $13 $13 $13 $10 $11
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Insurance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Rent $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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Operating Expenses $933 $943 $943 $933 $933 $933 $943 $983 $983 $983 $980 $991

Profit Before Interest and Taxes $1,942 $3,697 $2,486 $2,546 $4,404 $3,706 $3,696 $4,539 $4,539 $4,539 $3,895 $3,884
EBITDA $1,954 $3,709 $2,498 $2,559 $4,417 $3,719 $3,709 $4,552 $4,552 $4,552 $3,905 $3,895
Interest Expense $91 $90 $89 $88 $87 $86 $86 $85 $84 $83 $82 $81
Taxes Incurred $555 $902 $599 $615 $1,079 $905 $903 $1,114 $1,114 $1,114 $953 $951

Net Profit $1,296 $2,705 $1,798 $1,844 $3,238 $2,715 $2,708 $3,341 $3,341 $3,342 $2,860 $2,852
Net Profit/Sales 41.13% 53.04% 47.94% 48.20% 55.11% 53.23% 53.10% 54.99% 55.00% 55.01% 53.20% 53.06%

Page 4
 Appendix

Table: Cash Flow

Pro Forma Cash Flow

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Cash Received

Cash from Operations

Cash Sales $3,150 $5,100 $3,750 $3,825 $5,875 $5,100 $5,100 $6,075 $6,075 $6,075 $5,375 $5,375
Subtotal Cash from Operations $3,150 $5,100 $3,750 $3,825 $5,875 $5,100 $5,100 $6,075 $6,075 $6,075 $5,375 $5,375

Additional Cash Received

Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
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 $0 $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 $0 $0
Subtotal Cash Received $3,150 $5,100 $3,750 $3,825 $5,875 $5,100 $5,100 $6,075 $6,075 $6,075 $5,375 $5,375

Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Expenditures from Operations

Cash Spending $900 $900 $900 $900 $900 $900 $900 $950 $950 $950 $950 $950
Bill Payments $22 $711 $1,978 $752 $1,705 $1,214 $1,978 $1,058 $2,185 $1,251 $2,178 $1,089
Subtotal Spent on Operations $922 $1,611 $2,878 $1,652 $2,605 $2,114 $2,878 $2,008 $3,135 $2,201 $3,128 $2,039

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
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 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $1,022 $1,711 $2,978 $1,752 $2,705 $2,214 $2,978 $2,108 $3,235 $2,301 $3,228 $2,139

Net Cash Flow $2,128 $3,389 $772 $2,073 $3,170 $2,886 $2,122 $3,967 $2,840 $3,774 $2,147 $3,236
Cash Balance $2,967 $6,356 $7,128 $9,201 $12,372 $15,258 $17,379 $21,346 $24,186 $27,961 $30,107 $33,343

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 Appendix

Table: Balance Sheet

Pro Forma Balance Sheet

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Assets Starting Balances

Current Assets
Cash $839 $2,967 $6,356 $7,128 $9,201 $12,372 $15,258 $17,379 $21,346 $24,186 $27,961 $30,107 $33,343
Inventory $700 $424 $963 $642 $1,296 $758 $1,297 $836 $1,283 $730 $1,177 $677 $1,177
Other Current Assets $1,260 $1,260 $1,260 $1,260 $1,260 $1,260 $1,260 $1,260 $1,260 $1,260 $1,260 $1,260 $1,260
Total Current Assets $2,799 $4,651 $8,579 $9,029 $11,757 $14,390 $17,815 $19,476 $23,889 $26,176 $30,397 $32,044 $35,780

Long-term Assets
Long-term Assets $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000 $9,000
Accumulated Depreciation $0 $13 $25 $38 $51 $64 $77 $90 $103 $116 $129 $139 $150
Total Long-term Assets $9,000 $8,988 $8,975 $8,963 $8,950 $8,937 $8,924 $8,911 $8,898 $8,885 $8,872 $8,862 $8,851
Total Assets $11,799 $13,638 $17,554 $17,992 $20,707 $23,326 $26,738 $28,386 $32,787 $35,061 $39,269 $40,906 $44,631

Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Current Liabilities
Accounts Payable $0 $644 $1,954 $694 $1,665 $1,147 $1,944 $984 $2,144 $1,177 $2,143 $1,020 $1,993
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $0 $644 $1,954 $694 $1,665 $1,147 $1,944 $984 $2,144 $1,177 $2,143 $1,020 $1,993

Long-term Liabilities $10,960 $10,860 $10,760 $10,660 $10,560 $10,460 $10,360 $10,260 $10,160 $10,060 $9,960 $9,860 $9,760
Total Liabilities $10,960 $11,504 $12,714 $11,354 $12,225 $11,607 $12,304 $11,244 $12,304 $11,237 $12,103 $10,880 $11,753

Paid-in Capital $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Retained Earnings ($161) ($161) ($161) ($161) ($161) ($161) ($161) ($161) ($161) ($161) ($161) ($161) ($161)
Earnings $0 $1,296 $4,001 $5,799 $7,643 $10,880 $13,595 $16,303 $19,644 $22,985 $26,327 $29,186 $32,038
Total Capital $839 $2,135 $4,840 $6,638 $8,482 $11,719 $14,434 $17,142 $20,483 $23,824 $27,166 $30,025 $32,877
Total Liabilities and Capital $11,799 $13,638 $17,554 $17,992 $20,707 $23,326 $26,738 $28,386 $32,787 $35,061 $39,269 $40,906 $44,631

Net Worth $839 $2,135 $4,840 $6,638 $8,482 $11,719 $14,434 $17,142 $20,483 $23,824 $27,166 $30,025 $32,877

Page 6