Invest Youth Business Class - Downtown Wytheville, VA · Blue Ridge Crossroads SBDC 1117 E. Stuart Drive Galax, VA 24333 276.601.7727 . Mountain Empire SBDC. 3441 Mountain Empire

Invest Youth Business Class

Presented by: Mandy Archer

Blue Ridge Crossroads Small Business Development Center

The Virginia SBDC Network is

a partnership between

U.S. Small Business Administration,

George Mason University,

and

premier institutions throughout

Virginia.

What is the SBDC?

a network with 29 offices

serving every jurisdiction in Virginia

The SBDC is . . .an economic development program

that assists firms in job creation, job retention, access to capital, marketing,

start-up, expansion and survival

an economic development programthat assists firms with access to capital,

marketing, job creation and retention,launch and growth

a network with local offices

serving every jurisdiction in Virginia

a statewide infrastructurethat is a resource to

deploy job creation initiatives

a statewide infrastructurethat is a resource to

deploy technical assistance

feet-on-the-street providing direct,

individual, ongoing assistance

to small businesses

feet-on-the-street providing direct,

individual and ongoing assistance

to small businesses

PresenterPresentation NotesOffer free and confidential counseling to businesses of all stages. We are here to help you start and/or grow your business.

AREAS OF ASSISTANCE

Business Planning

Industry Research

Access to Capital

Marketing

Social Media / Web Marketing

Government Contracting

SPECIALITY PROGRAMS Commercialization Assistance

International Trade

Small Town & Merchant Program

Blue Ridge Crossroads SBDC1117 E. Stuart DriveGalax, VA 24333276.601.7727www.brceda.org

Mountain Empire SBDC3441 Mountain Empire RoadBig Stone Gap, VA 24219-4634276.523.6529http://www.mecc.edu/sbdc/

Roanoke Regional SBDC210 S. Jefferson StreetRoanoke, VA 24011-1702540.983.0717www.rrsbdc.org

Southwest Virginia SBDCP.O. Box SVCCRichlands, VA 24641-1101276.964.7345https://sw.edu/workforce/

Virginia Highlands SBDC100 VHCC DriveVA Highlands Community CollegeAbingdon, VA 24210276.739.2474www.vhcc.edu/sbdc

What is entrepreneurship?

AdventureUnpredictable

Time Money

ExperienceCreativity

Most importantlyACTION!

PresenterPresentation NotesWhat are some words to describe entrepreneurship?

The business will not run itself. You must always take ACTION for the next step.

“

”

Entrepreneurship is passion, persistence, and doing what you love.

It is a way of thinking. It is a mindset.

PresenterPresentation NotesWhat types of personality traits do you think you need?Risk takerOk with uncertaintyManaging timeIndependentAchievement oriented

Combination of personality traits and way of thinking.It can be learned.

Create new ways to solve old problems.

Activity

Supply & Demand

High Demand for product/service

Lower the supply

Higher the prices

Low Demand for product/service

Higher the supply

Lower the prices

PresenterPresentation NotesDo you enter an already saturated market?What can you provide or do differently?

SOLVE THE PROBLEM?

If not past 1:20pm go to Tell me About You.If past 1:20pm go into Drafting a BP

Tell me about you.Name

School

Grade

Business Idea

Do you know anyone that owns a business? Who?

How to Draft a Business PlanWhat is a business plan?

“

”A business plan is informed action.

• Brainstorming

• Researching

• Planning

• Helps you identify challenges

• Does this business help fit my goals?

Limited Time! Limited Resources! I need a plan!

Two major sections of a complete business plan.

Written Part Executive Summary

Business Description

Target Customer

Competition

Advertising Plan

Acquisitions

Facility Information

SWOT

Organization & Management

Pricing

Financing of business

Financial Part Start-up cost estimate

Sources & Uses

Income Statement

**An income statement estimates your revenue and expenses.

Executive Summary

Written last

Summary of information given throughout the business plan

Only include highlights

Business Description

Describe in your own words what you would like to do.

Why do you feel this is an idea that will work for you?

Describe the overall concept.

Examples

Example 1 I want to open an arcade and

entertainment center.

Example 2 Archers Games will be a family

friendly entertainment establishment located in Wythe County. Archers Games will include old and new arcade games, virtual reality, pool tables, mini-bowling, glow in dark mini-golf and a snack bar.

Management Team

What experience do you have in this industry?

What certifications and/or licenses do you already possess?

Have you worked in this industry before?

What about other “key” employees? What is there background and how will they contribute to the success of your business?

Mini-Resume

Target Customer

Describe your ideal customer for your business.

Include demographic and geographic information.

Age

Where they live?

How far is your customer reach? (5 miles, 10 miles, 100 miles)

Income

Free time

Average expenditures

Who are other potential customers?

PresenterPresentation NotesMy target customer is families and independent teens/young adults. Families with 9-14 yr olds. Independent teens / young adults 15-35 yrs old.

Other potential customers: Company outings, team building

Competition

Sometimes competition is not DIRECT.

Who or What is the competition for Archers Games?

Movies

Outdoor activities

Skating Rink

Concerts

Apex Center Events

High school sporting events

Advertising Plan

How do you plan to let other people know about your business?

#1 Tool is Word of Mouth

Social Media has changed the way word of mouth is used

More information in your session later this afternoon.

Acquisitions Purchase of equipment, inventory, furniture, fixtures, etc.

Do you already own any of the above items?

What is the cost of these items?

Building

Tools

Large and small equipment

Desks

Filing cabinets

Facility Information

Where do you plan to conduct business?

Online or Brick and Mortar Location?

How much square footage will your business need? (Approximate)

Will you need kitchen facilities?

Are there any special considerations for utilities?

Will you work from home?

Does your locality allow this type of business to operate from a residence?

Check with Wythe County or Town of Wytheville for Zoning restrictions.

INTERNAL

EXTERNAL

Organization & Governmental Regulations

Business Legal Organization

More information in your next session

Governmental Regulations

Satisfy Federal, State and Local requirements

Restaurants: VDH

Barbers/Cosmetologists: DPOR

Truck Drivers: NHTSA, Taxes, etc

Pricing

How do you plan to price your goods or services?

Will you charge hourly?

Will you “keystone” all goods?

How will you reach that price for service/good?

How does it compare to your competition?

Is it affordable?

Financing

Where do you plan to obtain the money for all acquisitions, start-up costs and operating capital?

Personal Cash

Loan

Savings

Investor

Attachments

Resume or background experience of all key employees

Copies of certificates

Lease agreements

Guarantee of funds

Financials & Cash Flow

Cash is King Start-up Costs / Capital Requests

Profit & Loss Statements / Income Statement

Revenue Assumptions

Cash Flow

Balance Sheet

What are you going to prepare for this challenge?

Start-up Needs

Loan Assumptions

Projected income statement

Start-up needs

Sources Where do you plan to get

the money?

Loans

Investment

Equity

Other

Uses What are you going to use

the money for?

Deposits

Licenses

Advertising

Equipment

Tools

Business Name

Owners Equity (Cash)Land ` Land Rent DepositVehicle Inventory Run #1 Insurance 1st paymentBuilding Building Utility Deposits Loan 1 Construction Research & DevelopmentOther Other Logo DesignOther Website Design

Business NameLicenses/PermitsLease PaymentsMerchant Account Setup FeeCash for RegisterConsulting

Equipment Initial Ads/PromotionsCleaning ServicesProfessional FeesOffice SuppliesMiscellaneousPatents and Trademaks

Total Assets -$ Total Startup 0.00

Total of Assets & Startup -$

Working Capital (cash left over)* - Total Sources $0 Total Uses $0

*Cash Available to Start the business operations after Asset and Operational Startup costs

Uses Sources

=

Assets Start Up Costs

Start Up Expenses

Business Name

SourcesUses

Owners Equity (Cash)AssetsStart Up Costs

Land`LandRent Deposit

VehicleInventory Run #1Insurance 1st payment

BuildingBuildingUtility Deposits

Loan 1 ConstructionResearch & Development

Other OtherLogo Design

OtherWebsite Design

Business Name

Licenses/Permits

Lease Payments

Merchant Account Setup Fee

Cash for Register

Consulting

EquipmentInitial Ads/Promotions

Cleaning Services

Professional Fees

Office Supplies

Miscellaneous

Patents and Trademaks

Total Assets$ - 0Total Startup 0.00

Total of Assets & Startup$ - 0

Working Capital (cash left over)*-

Total Sources$0=Total Uses$0


Loan 1

Client Name

Loan Amortization Schedule

Loan Description:

Interest1.00%

Loan Amt.

Term20

Payment$0.00

PaymentInterestPrincipalBalancePaymentInterestPrincipalBalance

--------------------------------------------------------------------------------------------------------

1$0.00$0.00$0.0037$0.00$0.00$0.00

2$0.00$0.00$0.0038$0.00$0.00$0.00

3$0.00$0.00$0.0039$0.00$0.00$0.00

4$0.00$0.00$0.0040$0.00$0.00$0.00

5$0.00$0.00$0.0041$0.00$0.00$0.00

6$0.00$0.00$0.0042$0.00$0.00$0.00

7$0.00$0.00$0.0043$0.00$0.00$0.00

8$0.00$0.00$0.0044$0.00$0.00$0.00

9$0.00$0.00$0.0045$0.00$0.00$0.00

10$0.00$0.00$0.0046$0.00$0.00$0.00

11$0.00$0.00$0.0047$0.00$0.00$0.00

12$0.00$0.00$0.0048$0.00$0.00$0.00

13$0.00$0.00$0.0049$0.00$0.00$0.00

14$0.00$0.00$0.0050$0.00$0.00$0.00

15$0.00$0.00$0.0051$0.00$0.00$0.00

16$0.00$0.00$0.0052$0.00$0.00$0.00

17$0.00$0.00$0.0053$0.00$0.00$0.00

18$0.00$0.00$0.0054$0.00$0.00$0.00

19$0.00$0.00$0.0055$0.00$0.00$0.00

20$0.00$0.00$0.0056$0.00$0.00$0.00

21$0.00$0.00$0.0057$0.00$0.00$0.00

22$0.00$0.00$0.0058$0.00$0.00$0.00

23$0.00$0.00$0.0059$0.00$0.00$0.00

24$0.00$0.00$0.0060$0.00$0.00$0.00

25$0.00$0.00$0.00

26$0.00$0.00$0.00

27$0.00$0.00$0.00

28$0.00$0.00$0.00

29$0.00$0.00$0.00

30$0.00$0.00$0.00

31$0.00$0.00$0.00

32$0.00$0.00$0.00

33$0.00$0.00$0.00

34$0.00$0.00$0.00

35$0.00$0.00$0.00

36$0.00$0.00$0.00

YearInterestPrincipal

---------------------------------------------

1$0.00$0.00$0.00

2$0.00$0.00

3$0.00$0.00

4$0.00$0.00

5$0.00$0.00

--

Total$0.00$0.00

=====================

Note…..

The Small Business Development Center (SBDC) has prepared this financial statement as of 11/23/2014 based on

information and assumptions provided by management. Neither the SBDC nor its personnel are licensed by the State

of Minnesota to practice public accounting and therefore express no opinion or any other form of assurance on

the statement or underlying assumptions.

&8Template material is licensed under the Creative Commons License.&8http://creativecommons.org/licenses/by-nc-sa/3.0/legalcode&8Templates created by UMD Center for Economic Development, Jennifer Pontinen, Jenny Herman and Richard Braun.

Loan 2

Client Name


Loan Description:

Interest1.00%Prime Rate3.25%

Loan Amt.

Term20

Payment$0.00


--------------------------------------------------------------------------------------------------------

1$0.00$0.00$0.0037$0.00$0.00$0.00

2$0.00$0.00$0.0038$0.00$0.00$0.00

3$0.00$0.00$0.0039$0.00$0.00$0.00

4$0.00$0.00$0.0040$0.00$0.00$0.00

5$0.00$0.00$0.0041$0.00$0.00$0.00

6$0.00$0.00$0.0042$0.00$0.00$0.00

7$0.00$0.00$0.0043$0.00$0.00$0.00

8$0.00$0.00$0.0044$0.00$0.00$0.00

9$0.00$0.00$0.0045$0.00$0.00$0.00

10$0.00$0.00$0.0046$0.00$0.00$0.00

11$0.00$0.00$0.0047$0.00$0.00$0.00

12$0.00$0.00$0.0048$0.00$0.00$0.00

13$0.00$0.00$0.0049$0.00$0.00$0.00

14$0.00$0.00$0.0050$0.00$0.00$0.00

15$0.00$0.00$0.0051$0.00$0.00$0.00

16$0.00$0.00$0.0052$0.00$0.00$0.00

17$0.00$0.00$0.0053$0.00$0.00$0.00

18$0.00$0.00$0.0054$0.00$0.00$0.00

19$0.00$0.00$0.0055$0.00$0.00$0.00

20$0.00$0.00$0.0056$0.00$0.00$0.00

21$0.00$0.00$0.0057$0.00$0.00$0.00

22$0.00$0.00$0.0058$0.00$0.00$0.00

23$0.00$0.00$0.0059$0.00$0.00$0.00

24$0.00$0.00$0.0060$0.00$0.00$0.00

25$0.00$0.00$0.00

26$0.00$0.00$0.00

27$0.00$0.00$0.00

28$0.00$0.00$0.00

29$0.00$0.00$0.00

30$0.00$0.00$0.00

31$0.00$0.00$0.00

32$0.00$0.00$0.00

33$0.00$0.00$0.00

34$0.00$0.00$0.00

35$0.00$0.00$0.00

36$0.00$0.00$0.00


---------------------------------------------

1$0.00$0.00$0.00

2$0.00$0.00

3$0.00$0.00

4$0.00$0.00

5$0.00$0.00

--

Total$0.00$0.00

=====================

Note…..






Year 1

Cash Flow Projections-Year 1Beginning CashJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYear Total

1. Cash on Hand (beginning of month) -$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0

Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0

Total Cash Available000000000000$ - 0

Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0

Cell Phone and/or Land Line$ - 0

Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0

Contract Labor Models$ - 0

Credit Card Fees 3%$ - 0

Donations$ - 0

Dues & Subscriptions$ - 0

Education$ - 0

Employee Benefits$ - 0

Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0

Inventory Purchases$ - 0

Liability Insurance $ - 0

Loan Payments (P&I)$ - 0

Office Supplies$ - 0

Outside Services$ - 0

Payroll Hourly$ - 0

Payroll Salary$ - 0

Payroll Taxes (12% of payroll)000000000000$ - 0

Parking$ - 0

Postage$ - 0

Printing$ - 0

Property Insurance$ - 0

Real Estate Taxes$ - 0

Refunds$ - 0

Rent/Lease$ - 0

Repairs/Maintenance$ - 0

Research & Development$ - 0

Security System$ - 0

Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0

Vehicle Insurance $ - 0

Water,Garbage,other Utilities$ - 0

Other $ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0

Capital Purchases/Inventory$ - 0

Owner Draw$ - 0

$ - 0

Total Cash Paid Out$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0

Cash on Hand (end of month)$ -$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0

Year 1 Net Income$ - 0

Year 2

Cash Flow Projections-Year 2JANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYear Total

1. Cash on Hand (beginning of month) $ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0

Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0

Contract Labor$ - 0


Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0






Payroll Hourly$ - 0

Payroll Salary$ - 0

Payroll Taxes 12% of payroll000000000000$ - 0

Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Website$ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0


Cash on Hand $ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Year 3

Cash Flow Projection-Year 3JANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYear Total


Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0

Contract Labor$ - 0


Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0



Loan Payments$ - 0



Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Other $ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0


Cash on Hand (end of month)$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Business Name

Owners Equity (Cash) 7,500.00 Land ` Land Rent Deposit 2,000.00Vehicle Inventory 1,000.00 Insurance 1st payment 500.00Building Building Utility Deposits 500.00Loan 1 10,000.00 Construction Research & DevelopmentOther Other Logo Design 75.00Other Website Design 300.00

Business NameLicenses/Permits 150.00Lease PaymentsMerchant Account Setup FeeCash for RegisterConsulting

Equipment Initial Ads/PromotionsGames 8,000.00 Cleaning ServicesFF&E 3,000.00 Professional Fees

Office SuppliesMiscellaneousPatents and Trademaks

Total Assets 12,000.00$ Total Startup 3,525.00

Total of Assets & Startup 15,525.00$

Working Capital (cash left over)* 1,975 Total Sources $17,500 Total Uses $17,500


Uses Sources

=

Archers Games

Assets Start Up Costs

Start Up Expenses

Business NameArchers Games

SourcesUses

Owners Equity (Cash)7,500.00AssetsStart Up Costs

Land`LandRent Deposit2,000.00

VehicleInventory1,000.00Insurance 1st payment500.00

BuildingBuildingUtility Deposits500.00

Loan 110,000.00 ConstructionResearch & Development

Other OtherLogo Design75.00

OtherWebsite Design300.00

Business Name

Licenses/Permits150.00

Lease Payments


Cash for Register

Consulting


Games8,000.00Cleaning Services

FF&E3,000.00Professional Fees

Office Supplies

Miscellaneous


Total Assets$ 12,000.00Total Startup 3,525.00

Total of Assets & Startup$ 15,525.00

Working Capital (cash left over)*1,975

Total Sources$17,500=Total Uses$17,500


Loan 1

Archers Games


Loan Description:Equipment, FF&E

Interest5.00%

Loan Amt.10,000

Term5

Payment$188.71


--------------------------------------------------------------------------------------------------------

1$41.67$147.05$9,852.9537$17.92$170.79$4,130.70

2$41.05$147.66$9,705.3038$17.21$171.50$3,959.20

3$40.44$148.27$9,557.0239$16.50$172.22$3,786.98

4$39.82$148.89$9,408.1340$15.78$172.93$3,614.05

5$39.20$149.51$9,258.6241$15.06$173.65$3,440.40

6$38.58$150.13$9,108.4842$14.33$174.38$3,266.02

7$37.95$150.76$8,957.7243$13.61$175.10$3,090.92

8$37.32$151.39$8,806.3444$12.88$175.83$2,915.08

9$36.69$152.02$8,654.3245$12.15$176.57$2,738.52

10$36.06$152.65$8,501.6646$11.41$177.30$2,561.21

11$35.42$153.29$8,348.3747$10.67$178.04$2,383.17

12$34.78$153.93$8,194.4548$9.93$178.78$2,204.39

13$34.14$154.57$8,039.8849$9.18$179.53$2,024.86

14$33.50$155.21$7,884.6750$8.44$180.28$1,844.59

15$32.85$155.86$7,728.8151$7.69$181.03$1,663.56

16$32.20$156.51$7,572.3052$6.93$181.78$1,481.78

17$31.55$157.16$7,415.1453$6.17$182.54$1,299.24

18$30.90$157.82$7,257.3254$5.41$183.30$1,115.94

19$30.24$158.47$7,098.8555$4.65$184.06$931.88

20$29.58$159.13$6,939.7156$3.88$184.83$747.05

21$28.92$159.80$6,779.9257$3.11$185.60$561.45

22$28.25$160.46$6,619.4558$2.34$186.37$375.08

23$27.58$161.13$6,458.3259$1.56$187.15$187.93

24$26.91$161.80$6,296.5260$0.78$187.93($0.00)

25$26.24$162.48$6,134.04

26$25.56$163.15$5,970.89

27$24.88$163.83$5,807.06

28$24.20$164.52$5,642.54

29$23.51$165.20$5,477.34

30$22.82$165.89$5,311.45

31$22.13$166.58$5,144.87

32$21.44$167.28$4,977.59

33$20.74$167.97$4,809.62

34$20.04$168.67$4,640.95

35$19.34$169.38$4,471.57

36$18.63$170.08$4,301.49


---------------------------------------------

1$459.00$1,805.55$2,264.55

2$366.62$1,897.93

3$269.52$1,995.03

4$167.45$2,097.10

5$60.16$2,204.39

--

Total$1,095.13$5,698.51

=====================

Note…..






Loan 2

Client Name


Loan Description:


Loan Amt.

Term20

Payment$0.00


--------------------------------------------------------------------------------------------------------

1$0.00$0.00$0.0037$0.00$0.00$0.00

2$0.00$0.00$0.0038$0.00$0.00$0.00

3$0.00$0.00$0.0039$0.00$0.00$0.00

4$0.00$0.00$0.0040$0.00$0.00$0.00

5$0.00$0.00$0.0041$0.00$0.00$0.00

6$0.00$0.00$0.0042$0.00$0.00$0.00

7$0.00$0.00$0.0043$0.00$0.00$0.00

8$0.00$0.00$0.0044$0.00$0.00$0.00

9$0.00$0.00$0.0045$0.00$0.00$0.00

10$0.00$0.00$0.0046$0.00$0.00$0.00

11$0.00$0.00$0.0047$0.00$0.00$0.00

12$0.00$0.00$0.0048$0.00$0.00$0.00

13$0.00$0.00$0.0049$0.00$0.00$0.00

14$0.00$0.00$0.0050$0.00$0.00$0.00

15$0.00$0.00$0.0051$0.00$0.00$0.00

16$0.00$0.00$0.0052$0.00$0.00$0.00

17$0.00$0.00$0.0053$0.00$0.00$0.00

18$0.00$0.00$0.0054$0.00$0.00$0.00

19$0.00$0.00$0.0055$0.00$0.00$0.00

20$0.00$0.00$0.0056$0.00$0.00$0.00

21$0.00$0.00$0.0057$0.00$0.00$0.00

22$0.00$0.00$0.0058$0.00$0.00$0.00

23$0.00$0.00$0.0059$0.00$0.00$0.00

24$0.00$0.00$0.0060$0.00$0.00$0.00

25$0.00$0.00$0.00

26$0.00$0.00$0.00

27$0.00$0.00$0.00

28$0.00$0.00$0.00

29$0.00$0.00$0.00

30$0.00$0.00$0.00

31$0.00$0.00$0.00

32$0.00$0.00$0.00

33$0.00$0.00$0.00

34$0.00$0.00$0.00

35$0.00$0.00$0.00

36$0.00$0.00$0.00


---------------------------------------------

1$0.00$0.00$0.00

2$0.00$0.00

3$0.00$0.00

4$0.00$0.00

5$0.00$0.00

--

Total$0.00$0.00

=====================

Note…..






Year 1


1. Cash on Hand (beginning of month) 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975

Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0

Total Cash Available1,9751,9751,9751,9751,9751,9751,9751,9751,9751,9751,9751,975$ - 0

Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0



Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0






Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Other $ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0

$ - 0


Cash on Hand (end of month)$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975


Year 2


1. Cash on Hand (beginning of month) $ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975

Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0

Contract Labor$ - 0


Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0






Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Website$ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0


Cash on Hand $ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975


Year 3


1. Cash on Hand (beginning of month) $ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975

Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0

Contract Labor$ - 0


Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0



Loan Payments$ - 0



Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Other $ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0


Cash on Hand (end of month)$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975$ 1,975


Loan AssumptionsUse a loan calculator to determine loan payment (interest and principal)

Client NameLoan Amortization Schedule

Loan Description:

Interest 1.00%Loan Amt.Term 20Payment $0.00

Payment Interest Principal Balance------------- ------------- ------------- -------------

1 $0.00 $0.00 $0.002 $0.00 $0.00 $0.003 $0.00 $0.00 $0.00

Archers GamesLoan Amortization Schedule

Loan Description: Equipment, FF&E

Interest 5.00%Loan Amt. 10,000 Term 5Payment $188.71

Payment Interest Principal Balance------------- ------------- ------------- -------------

1 $41.67 $147.05 $9,852.952 $41.05 $147.66 $9,705.303 $40.44 $148.27 $9,557.024 $39.82 $148.89 $9,408.13

Start Up Expenses

Business Name

SourcesUses

Owners Equity (Cash)AssetsStart Up Costs

Land`LandRent Deposit

VehicleInventory Run #1Insurance 1st payment

BuildingBuildingUtility Deposits

Loan 1 ConstructionResearch & Development

Other OtherLogo Design

OtherWebsite Design

Business Name

Licenses/Permits

Lease Payments


Cash for Register

Consulting


Cleaning Services

Professional Fees

Office Supplies

Miscellaneous


Total Assets$ - 0Total Startup 0.00

Total of Assets & Startup$ - 0

Working Capital (cash left over)*-

Total Sources$0=Total Uses$0


Loan 1

Client Name


Loan Description:

Interest1.00%

Loan Amt.

Term20

Payment$0.00


--------------------------------------------------------------------------------------------------------

1$0.00$0.00$0.0037$0.00$0.00$0.00

2$0.00$0.00$0.0038$0.00$0.00$0.00

3$0.00$0.00$0.0039$0.00$0.00$0.00

4$0.00$0.00$0.0040$0.00$0.00$0.00

5$0.00$0.00$0.0041$0.00$0.00$0.00

6$0.00$0.00$0.0042$0.00$0.00$0.00

7$0.00$0.00$0.0043$0.00$0.00$0.00

8$0.00$0.00$0.0044$0.00$0.00$0.00

9$0.00$0.00$0.0045$0.00$0.00$0.00

10$0.00$0.00$0.0046$0.00$0.00$0.00

11$0.00$0.00$0.0047$0.00$0.00$0.00

12$0.00$0.00$0.0048$0.00$0.00$0.00

13$0.00$0.00$0.0049$0.00$0.00$0.00

14$0.00$0.00$0.0050$0.00$0.00$0.00

15$0.00$0.00$0.0051$0.00$0.00$0.00

16$0.00$0.00$0.0052$0.00$0.00$0.00

17$0.00$0.00$0.0053$0.00$0.00$0.00

18$0.00$0.00$0.0054$0.00$0.00$0.00

19$0.00$0.00$0.0055$0.00$0.00$0.00

20$0.00$0.00$0.0056$0.00$0.00$0.00

21$0.00$0.00$0.0057$0.00$0.00$0.00

22$0.00$0.00$0.0058$0.00$0.00$0.00

23$0.00$0.00$0.0059$0.00$0.00$0.00

24$0.00$0.00$0.0060$0.00$0.00$0.00

25$0.00$0.00$0.00

26$0.00$0.00$0.00

27$0.00$0.00$0.00

28$0.00$0.00$0.00

29$0.00$0.00$0.00

30$0.00$0.00$0.00

31$0.00$0.00$0.00

32$0.00$0.00$0.00

33$0.00$0.00$0.00

34$0.00$0.00$0.00

35$0.00$0.00$0.00

36$0.00$0.00$0.00


---------------------------------------------

1$0.00$0.00$0.00

2$0.00$0.00

3$0.00$0.00

4$0.00$0.00

5$0.00$0.00

--

Total$0.00$0.00

=====================

Note…..






Loan 2

Client Name


Loan Description:


Loan Amt.

Term20

Payment$0.00


--------------------------------------------------------------------------------------------------------

1$0.00$0.00$0.0037$0.00$0.00$0.00

2$0.00$0.00$0.0038$0.00$0.00$0.00

3$0.00$0.00$0.0039$0.00$0.00$0.00

4$0.00$0.00$0.0040$0.00$0.00$0.00

5$0.00$0.00$0.0041$0.00$0.00$0.00

6$0.00$0.00$0.0042$0.00$0.00$0.00

7$0.00$0.00$0.0043$0.00$0.00$0.00

8$0.00$0.00$0.0044$0.00$0.00$0.00

9$0.00$0.00$0.0045$0.00$0.00$0.00

10$0.00$0.00$0.0046$0.00$0.00$0.00

11$0.00$0.00$0.0047$0.00$0.00$0.00

12$0.00$0.00$0.0048$0.00$0.00$0.00

13$0.00$0.00$0.0049$0.00$0.00$0.00

14$0.00$0.00$0.0050$0.00$0.00$0.00

15$0.00$0.00$0.0051$0.00$0.00$0.00

16$0.00$0.00$0.0052$0.00$0.00$0.00

17$0.00$0.00$0.0053$0.00$0.00$0.00

18$0.00$0.00$0.0054$0.00$0.00$0.00

19$0.00$0.00$0.0055$0.00$0.00$0.00

20$0.00$0.00$0.0056$0.00$0.00$0.00

21$0.00$0.00$0.0057$0.00$0.00$0.00

22$0.00$0.00$0.0058$0.00$0.00$0.00

23$0.00$0.00$0.0059$0.00$0.00$0.00

24$0.00$0.00$0.0060$0.00$0.00$0.00

25$0.00$0.00$0.00

26$0.00$0.00$0.00

27$0.00$0.00$0.00

28$0.00$0.00$0.00

29$0.00$0.00$0.00

30$0.00$0.00$0.00

31$0.00$0.00$0.00

32$0.00$0.00$0.00

33$0.00$0.00$0.00

34$0.00$0.00$0.00

35$0.00$0.00$0.00

36$0.00$0.00$0.00


---------------------------------------------

1$0.00$0.00$0.00

2$0.00$0.00

3$0.00$0.00

4$0.00$0.00

5$0.00$0.00

--

Total$0.00$0.00

=====================

Note…..






Year 1


1. Cash on Hand (beginning of month) -$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0

Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0



Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0






Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Other $ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0

$ - 0


Cash on Hand (end of month)$ -$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Year 2



Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0

Contract Labor$ - 0


Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0






Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Website$ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0


Cash on Hand $ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Year 3



Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0

Contract Labor$ - 0


Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0



Loan Payments$ - 0



Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Other $ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0


Cash on Hand (end of month)$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Start Up Expenses

Business NameArchers Games

SourcesUses

Owners Equity (Cash)5,000.00AssetsStart Up Costs

Land`LandRent Deposit2,000.00

VehicleInventory Run #1Insurance 1st payment500.00

BuildingBuildingUtility Deposits500.00

Loan 110,000.00 ConstructionResearch & Development

Other OtherLogo Design75.00

OtherWebsite Design300.00

Business Name

Licenses/Permits150.00

Lease Payments


Cash for Register

Consulting


Games8,000.00Cleaning Services

FF&E3,000.00Professional Fees

Office Supplies

Miscellaneous


Total Assets$ 11,000.00Total Startup 3,525.00

Total of Assets & Startup$ 14,525.00

Working Capital (cash left over)*475

Total Sources$15,000=Total Uses$15,000


Loan 1

Archers Games


Loan Description:Equipment, FF&E

Interest5.00%

Loan Amt.10,000

Term5

Payment$188.71


--------------------------------------------------------------------------------------------------------

1$41.67$147.05$9,852.9537$17.92$170.79$4,130.70

2$41.05$147.66$9,705.3038$17.21$171.50$3,959.20

3$40.44$148.27$9,557.0239$16.50$172.22$3,786.98

4$39.82$148.89$9,408.1340$15.78$172.93$3,614.05

5$39.20$149.51$9,258.6241$15.06$173.65$3,440.40

6$38.58$150.13$9,108.4842$14.33$174.38$3,266.02

7$37.95$150.76$8,957.7243$13.61$175.10$3,090.92

8$37.32$151.39$8,806.3444$12.88$175.83$2,915.08

9$36.69$152.02$8,654.3245$12.15$176.57$2,738.52

10$36.06$152.65$8,501.6646$11.41$177.30$2,561.21

11$35.42$153.29$8,348.3747$10.67$178.04$2,383.17

12$34.78$153.93$8,194.4548$9.93$178.78$2,204.39

13$34.14$154.57$8,039.8849$9.18$179.53$2,024.86

14$33.50$155.21$7,884.6750$8.44$180.28$1,844.59

15$32.85$155.86$7,728.8151$7.69$181.03$1,663.56

16$32.20$156.51$7,572.3052$6.93$181.78$1,481.78

17$31.55$157.16$7,415.1453$6.17$182.54$1,299.24

18$30.90$157.82$7,257.3254$5.41$183.30$1,115.94

19$30.24$158.47$7,098.8555$4.65$184.06$931.88

20$29.58$159.13$6,939.7156$3.88$184.83$747.05

21$28.92$159.80$6,779.9257$3.11$185.60$561.45

22$28.25$160.46$6,619.4558$2.34$186.37$375.08

23$27.58$161.13$6,458.3259$1.56$187.15$187.93

24$26.91$161.80$6,296.5260$0.78$187.93($0.00)

25$26.24$162.48$6,134.04

26$25.56$163.15$5,970.89

27$24.88$163.83$5,807.06

28$24.20$164.52$5,642.54

29$23.51$165.20$5,477.34

30$22.82$165.89$5,311.45

31$22.13$166.58$5,144.87

32$21.44$167.28$4,977.59

33$20.74$167.97$4,809.62

34$20.04$168.67$4,640.95

35$19.34$169.38$4,471.57

36$18.63$170.08$4,301.49


---------------------------------------------

1$459.00$1,805.55$2,264.55

2$366.62$1,897.93

3$269.52$1,995.03

4$167.45$2,097.10

5$60.16$2,204.39

--

Total$1,095.13$5,698.51

=====================

Note…..






Loan 2

Client Name


Loan Description:


Loan Amt.

Term20

Payment$0.00


--------------------------------------------------------------------------------------------------------

1$0.00$0.00$0.0037$0.00$0.00$0.00

2$0.00$0.00$0.0038$0.00$0.00$0.00

3$0.00$0.00$0.0039$0.00$0.00$0.00

4$0.00$0.00$0.0040$0.00$0.00$0.00

5$0.00$0.00$0.0041$0.00$0.00$0.00

6$0.00$0.00$0.0042$0.00$0.00$0.00

7$0.00$0.00$0.0043$0.00$0.00$0.00

8$0.00$0.00$0.0044$0.00$0.00$0.00

9$0.00$0.00$0.0045$0.00$0.00$0.00

10$0.00$0.00$0.0046$0.00$0.00$0.00

11$0.00$0.00$0.0047$0.00$0.00$0.00

12$0.00$0.00$0.0048$0.00$0.00$0.00

13$0.00$0.00$0.0049$0.00$0.00$0.00

14$0.00$0.00$0.0050$0.00$0.00$0.00

15$0.00$0.00$0.0051$0.00$0.00$0.00

16$0.00$0.00$0.0052$0.00$0.00$0.00

17$0.00$0.00$0.0053$0.00$0.00$0.00

18$0.00$0.00$0.0054$0.00$0.00$0.00

19$0.00$0.00$0.0055$0.00$0.00$0.00

20$0.00$0.00$0.0056$0.00$0.00$0.00

21$0.00$0.00$0.0057$0.00$0.00$0.00

22$0.00$0.00$0.0058$0.00$0.00$0.00

23$0.00$0.00$0.0059$0.00$0.00$0.00

24$0.00$0.00$0.0060$0.00$0.00$0.00

25$0.00$0.00$0.00

26$0.00$0.00$0.00

27$0.00$0.00$0.00

28$0.00$0.00$0.00

29$0.00$0.00$0.00

30$0.00$0.00$0.00

31$0.00$0.00$0.00

32$0.00$0.00$0.00

33$0.00$0.00$0.00

34$0.00$0.00$0.00

35$0.00$0.00$0.00

36$0.00$0.00$0.00


---------------------------------------------

1$0.00$0.00$0.00

2$0.00$0.00

3$0.00$0.00

4$0.00$0.00

5$0.00$0.00

--

Total$0.00$0.00

=====================

Note…..






Year 1


1. Cash on Hand (beginning of month) 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475

Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0



Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0






Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Other $ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0

$ - 0


Cash on Hand (end of month)$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475


Year 2


1. Cash on Hand (beginning of month) $ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475

Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0

Contract Labor$ - 0


Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0






Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Website$ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0


Cash on Hand $ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475


Year 3


1. Cash on Hand (beginning of month) $ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475

Cash Income:

Income 1$ - 0

Income 2$ - 0

Income 3$ - 0


Cash Paid Out

Advertising$ - 0

Accounting$ - 0

Bad Debts$ - 0

Bank Charges$ - 0

Car Rental$ - 0


Cleaning$ - 0

Commissions$ - 0

Consulting$ - 0

Contract Labor$ - 0


Donations$ - 0


Education$ - 0


Freight$ - 0

Garbage$ - 0

Gas (Vehicle)$ - 0

Insurance$ - 0

Internet$ - 0



Loan Payments$ - 0



Payroll Hourly$ - 0

Payroll Salary$ - 0


Parking$ - 0

Postage$ - 0

Printing$ - 0



Refunds$ - 0

Rent/Lease$ - 0




Shop Supplies $ - 0

Snow Plowing$ - 0

Tools$ - 0

Travel$ - 0

Utilities$ - 0



Other $ - 0

Other $ - 0

Other $ - 0

Subtotal$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0


Owner Draw$ - 0


Cash on Hand (end of month)$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475$ 475


Revenue Assumptions

This is not included as a separate page but should be part of your final business plan.

How much will you make? Why do you think you will make that amount?

Will it be the same every month?

Archers Games I plan to charge $5 per person for 1 hour of play.

I will be open 4 hours per day for 7 days per week.

I can accommodate up to 30 people at one time.

Assume full occupancy and serve 120 people per day.

Max revenue:

$5 x 30 people = $150

$150 x 4 hours per day = $600

$600 per day x 7 days per week = $4,200 per week max revenue

$16,800 monthly revenue

Will I be maxed out every day all week long?

Service Hourly Fees Example: Website Developer

I want to earn $25,000 per year as take home salary

I have $500 per month expenses for rent, utilities, office supplies, software fees

Estimate taxes at 50% of the take home salary: $12,500

Total Yearly Expenses: $25,000 + $12,500 + $6,000 = $43,500

I do not want to work more than 40 hours per week and I want 2 weeks off per year with no work

2,000 hours per year

$43,500 / 2,000 = $21.75 per hour

Expenses

Research and/or best guesses

Don’t forgot Costs of Goods if it is a product

Industry standards can be very helpful

Example: What is the average advertising budget for a bowling alley?

1.12% of gross profit

If I gross $16,800 per month I should probably spend $200 per month on advertising.

Should that be more in the beginning?

Customer Service & Operations

4 Principles of Great Customer Service

AttitudeService

ConsistencyTeamwork

ATTITUDE

How you THINKabout the customer is how you will TREATthe customer?

SERVICE

I’ve learned that people will forget what you said, people will forget what you did, but people will

never forget how you made them feel.

~ Maya Angelou

External• Those who buy your

goods and/or services

Internal• Those with whom

you work every day – your teammates

Know your customer

3 Faces of Customers(External and Internal)

• 1. *Advocate ---

• 2. *Apathetic --------------

• 3. *Assassin -----

*Satisfaction

Chris Denove and James D. Power IV

PresenterPresentation NotesADVOCATE:These are our best customers – the ones who return to our business time again, because they LIKE doing business with us. We have proven to them that we are their advocate – we are there to help, especially when things go wrong. In return, this customer will come more often than others, he will spend more money than others, he will tell his friends and family why they, too, should do business with us – AND, he will forgive us when something goes wrong – Because we are his Advocate, he is our advocate.

APATHETIC:This customer may have only visited our business once. During this visit, nothing went wrong. He received the goods or services that he paid for. But, there was no human connection – this was a transaction, not a relationship. So, when he goes home he does NOT recommend us to his friends and family, he would switch to our competitor in a minute for a $5 coupon and when something goes wrong, he will demand restitution – we have not done anything to show him that our number one concern is for his satisfaction – we have not demonstrated that we want to be his advocate – therefore, he will not be ours.

ASSASSIN:This is the customer who feels that he has been treated poorly and will not rest until he has told everyone he knows that they should not patronize our business. He feels unappreciated and wants the world to know it.

These are also the faces of your INTERNAL CUSTOMER – these are YOUR faces.

7 out of 10 complaining customers WILL do business with you again IF you resolve the complaint in their favor.

_______________________

If you resolve it on the spot, 95% will do business with you again.

PresenterPresentation NotesQuick resolutions to problems is the BEST way to guarantee that customers will continue to do business with us.

CONSISTENCY

We are what we repeatedly do. Excellence then is not an act, buthabit.

Aristotle

PresenterPresentation NotesWe must continually strive EVERY DAY to live our lives to the fullest.

Learn to CONSISTENTLY take time for yourself, so that you can be there to take care of others. If you make this one commitment, you will be amazed at the energy and desire you have to serve your family, your friends, your teammates and your customers.

Consistency Customers come back because they liked the way they were

treated during their last visit.

Set high standards and stick to them!

Train your employees to stick to those standards every time to make sure every experience is a positive one.

PresenterPresentation NotesDo we say an aisle number we think or do we walk the customer to the item?

TEAMWORK

What you do impacts each

team member and impacts the

customer

TEAMWORK

More about Customer Service

Can You Hear Me Now?

The Variations of Body Language

PresenterPresentation NotesWAYS OF TALKING: Tone of voice is body language. “Thank you for shopping with us. Have a nice day.” The meaning is lost when these words are spoken in an insincere tone.

POSTURE: Don’t slouch. Stand tall. It makes you look confident – it makes you look smart.

APPEARANCE; Comb your hair, brush your teeth, don’t wear to work the clothes you slept in – iron that shirt! And, don’t forget about the appearance of your building… The physical appearance of your building is an extension of body language. Be sure your space is clean and orderly.

EYE MOVEMENT: “Young lady, don’t you roll your eyes at me!”

Facial Expressions: SMILE – sometimes it requires practice

Body Contact: A good handshake is one of your greatest customer service tools.Be aware of another’s personal space. Tell Luray Caverns story.

Laughing: Always WITH our customers, not AT them (External and Internal)

How to deal with Challenging Customers

Stay calm yourself

Let the customer vent

Deal with the emotion first

Avoid emotional trigger words

Gently confront abusive customers

Delay action or consult a second opinion

Avoid Emotional Triggers

Triggers• That’s not our policy

• Can’t

• I’m sorry you feel that way

• I don’t know

• You should have…

Calmers• Here’s what we can do

• Can

• Thank you for telling us

• I’ll find out

• I understand why…

I’m Sorry No Excuses

Solution Thank You

An Effective Apology

Sustainable & Planned Futures

PL

AN

FO

R

PresenterPresentation NotesSo who goes into business to fail? NOBODY! You want to succeed.

Who owns a magic 8 ball or can tell the future?

Is success guaranteed? NO

What makes for a sustainable future?

Who is ultimately responsible for helping your business succeed? YOU ARE. MANAGEMENT of COMPANY.

Just like you wouldn’t build a house without blueprints, you shouldn’t build a business without business plan blueprints

PresenterPresentation NotesWould you build a house without some type of blueprints? Why not?The floor might not be strong enough or the walls could buckle under pressure.

Same with a business idea. You need to work on a blueprint for the business.

Imagine you are at dinner with a friend and you decide you are tired of working for someone else. You decide it is time to venture into a business on your own. You begin jotting notes down in your head or even on that bar napkin. (SHOW NAPKIN) You have done the first step of a “Napkin Plan”

Core 1: Success Planning

(the “Foundation” of a good business plan)

CharacterCommitment

Contingency“What If?”

PresenterPresentation NotesAs you start to gather more information, figure out resources and how much financing you need of the business these are first steps to a business plan.

Just like you wouldn’t build a house without blueprints, you shouldn’t build a business without business plan blueprints

PresenterPresentation Notes

What do I need to make this happen? Resources Planning What resources do I need to produce my product or service? How will I manage a healthy business? CREATE AN ACTION PLAN. An action plan as attainable goals. What if you want to expand your business by offering a new product or service? Do you “Just do It?” Start at the beginning with a napkin plan and end up making a continuous circle.

Due Diligence(verifying and validating the business plan)

Every step of the way – ask yourself:• Is my plan Feasible?• Is my plan Viable?• Is my plan Desirable?

If the sun stops shining, the business cannot grow…

PresenterPresentation NotesFeasible: Is there a market for your product or service? Resources available for doing my business?Viability: opportunities to grow?Desirability: business should produce the income you are seeking? After consideration of all things, you are prepared and comfortable with the responsibilities, duties, etc. the business will need to be successful.

SO the question is….HOW DO OU PLAN FOR THE FUTURE?

CONTINGENCY PLANNING

The test is not what happens, but how you

respond!

How Will Your Life Change?

PresenterPresentation NotesBe prepared!

Things happen. Some you can control and some you cannot.

Business Issues (technology, recession, etc.)

LifestyleSchedulePersonal/Business FinancesFriends/ Family

CONTINGENCY PLANNING“When” instead of “if”

Be prepared!

Business Issues (Internal & External)

Lifestyle

Schedule

Personal/Business Finances

Friends/ Family

The test is not what happens, but how you respond!

PresenterPresentation NotesCreate a Risk Management Plan for the business during your business planning phase

INTERNAL

EXTERNAL

PresenterPresentation NotesThere are both INTERNAL and EXTERNAL factors that create obstacles in the business.

What are internal risks?Human Risks (death or illness of owner or employee / theft or fraud / low morale or dissatisfaction in job)Death or illness of owner or employeeTheft or fraud (inventory, time, accounting and cash)Low morale or dissatisfaction in job (failure to perform, sabotage systems or equipment

Equipment & Information TechnologyEquipment breakdownNew equipment integrationLack of backup or recovery systemCybersecurity

Other Internal RisksNot taking care of the routine maintenance on equipmentWork related injuriesProperty damageUnexpected costs

What are external risks?Competition or Loss of Market?Loss of customersVendor costs increaseOil or gasoline increasesFixed expenses increase

Business EnvironmentLawsWeatherNatural Disaster

Personal conflicts (time, money, etc)

What can help you identify all of these risks and potential solutions?

Business Problems

Problem

Crisis? Opportunity?

PresenterPresentation NotesAvoiding problems usually results in a crisis, while confronting problems creates opportunities for success.

Let’s talk about an example of a potentially missed opportunity

Talking Pictures will never amount to

anything.Singin’ in the Rain

PresenterPresentation Notes20

Change is going to happen! Will you be ready?

PresenterPresentation NotesHand out the sheet about the Cheese?

To summarize.. CHANGE IS GOING TO HAPPEN.

Success to me is growing my business.

PresenterPresentation NotesWhat if your measure of success is growing your business? You need some tools to prepare for that.

Just some stuff to think about……

Cash and Profits are NOT the Same

•Cash is Cash

•Profit is a formula used to determine income tax liability

If the business is so profitable…..Where’s my money?

Think, Research, analyze, calculate, DECIDE…

ASK YOURSELF: What if cash from sales is not sufficient to operate the business? What is the first line of

defense?

Does my business require that I have a white Cadillac in order to sell insurance?

Does my business really need to pay cousin Phil $20 per hour?

Does my business really need a 5,000 square foot showroom for dried flower arrangements?

Will my business really produce eight million dollars in cash from sales in the first six months?

When is enough, enough?

What are the outside influences?

Records

•KNOW what must be done.

•KNOW how to get it done.

•DO IT, or get it done.

•KNOW what the information means to you.

•UNDERSTAND the systems and procedures you have in place.

•MONITOR the work of others.

•If you pay for professional services they CHARGE by the hour.

•If your books are a mess or non-existent, YOU WILL PAY!

PresenterPresentation NotesAccountants are probably the only people I know that like this part of the business.

Recordkeeping is often the last thing on an entrepreneur’s mind, but is necessary to having a legal, legitimate business and managing the business.

Inventory managementBreak event pointCOGS�Understanding what your different reports tell youTax planning

Hire people to help you…Accountant LawyerBookkeeper

Insurance

•General Liability•Product Liability•Property Damage•Cybersecurity •Worker’s Compensation•Health and Medical•Disability or Long-Term Income Continuance•Key Person or Life Insurance•Business Interruption

• Establish separate bank account• Do not mix personal & business funds or debts• Sign all contracts & leases in entity name• Sign everything properly (owner/president etc.)• Proper Insurance in company name• If corporation have annual meeting and maintain minute

book

• Maintain CURRENT and ACCURATE records• Establish, enforce and follow policies and procedures• ENSURE AWESOME CUSTOMER SERVICE!

Maintaining the Entity Integrity & Managing Risk

Customer Service

•It is far easier and less expensive to keep a current customer than to find a new one

•No customers = no business

•Remember, the customer wants you to care about them and show it (this includes your employees as well)

•Superior customer service is a very low cost way to have a competitive advantage

Mandy Archer, DirectorGinny Plant, Administrative Assistant

276-601-7727

[email protected]@brceda.org

www.VirginiaSBDC.org

Invest Youth �Business ClassSlide Number 2The SBDC is . . .AREAS OF ASSISTANCESlide Number 5What is entrepreneurship?Slide Number 7Entrepreneurship is passion, persistence, and doing what you love.ActivitySupply & DemandTell me about you.How to Draft a Business PlanA business plan is informed action.Slide Number 14Two major sections of a complete business plan.Executive SummaryBusiness DescriptionExamplesManagement TeamTarget CustomerCompetitionAdvertising Plan�Acquisitions�Facility InformationSlide Number 25Organization & Governmental RegulationsPricingFinancingAttachmentsFinancials & Cash FlowCash is KingWhat are you going to prepare for this challenge?Start-up needsSlide Number 34Slide Number 35Loan Assumptions�Use a loan calculator to determine loan payment (interest and principal)�Revenue AssumptionsArchers GamesService Hourly FeesExpensesCustomer Service & Operations4 Principles of Great Customer ServiceATTITUDESERVICESlide Number 453 Faces of Customers�(External and Internal)��7 out of 10 complaining customers WILL do business with you again IF you resolve the complaint in their favor.��_______________________�CONSISTENCYConsistencyTEAMWORKMore about Customer ServiceCan You Hear Me Now?The Variations of Body LanguageHow to deal with Challenging CustomersAvoid Emotional TriggersSlide Number 56Sustainable & Planned FuturesSlide Number 58Slide Number 59Slide Number 60Slide Number 61Slide Number 62CONTINGENCY PLANNING�“When” instead of “if”CONTINGENCY PLANNING�“When” instead of “if”Slide Number 65 Business ProblemsTalking Pictures will never amount to anything.Change is going to happen! Will you be ready?Slide Number 69Slide Number 70Success to me is growing my business.Just some stuff to think about……Slide Number 73Slide Number 74 Records InsuranceSlide Number 77 Customer ServiceSlide Number 79

Documents

Invest Youth Business Class - Downtown Wytheville, VA · Blue Ridge Crossroads SBDC 1117 E. Stuart Drive Galax, VA 24333 276.601.7727 . Mountain Empire SBDC. 3441 Mountain Empire