Table1: Summary of Cash Flow

S/NO.

ITEM

AMOUNT

OWNER'S CONT.

To Be Sourced

TABLE

REMARKS

CAPITAL EXPENDITURE
1 Furniture and Fittings
2 Equipment and Accessories
Total Capital:

595,350.00
267,025.00
862,375.00

1 Purchase/Rent of Property, Improvements, etc

2 Preliminary Expenses
Total Office Setup:

330,000.00
220,000.00
550,000.00

0.00
0.00
0.00

364,350.00
267,025.00
631,375.00

Appendix 2
Appendix 3

330,000.00
220,000.00
550,000.00

0.00
0.00
0.00

Appendix 1
Appendix 1

330,642.67
56,983.33
42,000.00
117,666.67
0.00
0.00
0.00
547,292.67

Appendix 4
Appendix 5
Appendix 6
Appendix 7

OFFICE SETUP

RECURRENT EXPENDITURE
1
2
3
4
5
6
7

Production Costs
Bills
Publicity & Adverts
Personnel Salaries & Wages
Maintenance, Repairs & Overhaul
Insurance
Board of Directors' Expenses
Total Recurrent:

3,967,712.00
783,800.00
449,400.00
1,580,098.60
86,237.50
43,118.75
240,000.00
7,150,366.85

Total Investment:

8,562,741.85

0.00
0.00
1,575.00
0.00
0.00
0.00
0.00
1,575.00

Appendix 8

TURNOVER
1 Estimated Sales per Year:

13,169,600.00
Estimated Sales:

Appendix 10

13,169,600.00
ESTIMATED STARTUP COST

Capital Expenses (100%), & Office Setup (100%)

Recurrent Expenses for first 3-months
Equity based on Capitalization:
Incentive for promoter (Idea, Goodwill & Biz Plan)
Adjusted Equity Contribution:

1,181,375.00
548,867.67
1,730,242.67

550,000.00
1,575.00
551,575.00

631,375.00
547,292.67
1,178,667.67

31.88%
20.00%
51.88%

68.12%
-20.00%
48.12%

1,730,242.67

1 of 28

Table 2: Key Assumptions

The following are assumptions made in the course of packaging this financial plan.
1
2
3
4
5
6
7
8
9
10
11
12

Discounts on products and service

Commission to marketers
PR to facilitators
Depreciation
Insurance
Maintenance, Repairs & Overhaul
Tax
Education Tax
Projected Income increase from the second year
Projected Expenditure increase from the second year
Start-up cost covers
Investment type

2% of sale
2.5% of sale
2.5% of sale
5% of Furniture & Maintenance
5% of Furniture & Maintenance
10% of Furniture & Maintenance
30% on Profit before Tax
2% on Tax
15% of first year projection
10% of first year projection
First 3 months
Debt and Equity contribution

2 of 28

Table 3: Projected Profit and Loss Statement for 5 years

Year 1
INCOME
1
2
3
4
5

Estimated Sales
Discounts (2% of sales)
Commission to Marketers (2.5% of sales)
VAT (5%)
Openning Stock
Total Cost of Sales

Net Sales or Gross Margin

13,169,600.00
263,392.00
329,240.00
658,480.00
3,967,712.00
5,218,824.00

Year 2
Amount
15,803,520.00
316,070.40
395,088.00
790,176.00
4,761,254.40
6,262,588.80

Year 3

Year 4

Year 5

18,964,224.00
379,284.48
474,105.60
948,211.20
5,713,505.28
7,515,106.56

22,757,068.80
455,141.38
568,926.72
1,137,853.44
6,856,206.34
9,018,127.87

27,308,482.56
546,169.65
682,712.06
1,365,424.13
8,227,447.60
10,821,753.45

7,950,776.00

9,540,931.20

11,449,117.44

13,738,940.93

16,486,729.11

EXPENSES
General & Administrative Expenses
1
Salaries (Payroll)
2
Other Payroll expenses
3
Board of Directors' Renemeration
4
Depreciation (5% on Furniture & Equipment)
5
Bills
6
Rent
7
Consumables
8
Adverts & Promotion
9
Insurance
10
Preliminary Expenses
11
Interest
12
Bank Charges - COT, et al
13
Bank Charges (4%)
Maintenance, Repairs & Overhaul (10% on
14
Furniture & Equipment)
15
Other payments (Misc + Transport)
Total Gen & Admin Expenses

1,412,000.00
168,098.60
240,000.00
43,118.75
783,800.00
330,000.00
366,912.00
449,400.00
43,118.75
0.00
78,010.67
69,140.40
47,146.71

1,694,400.00
201,718.32
288,000.00
51,742.50
940,560.00
396,000.00
440,294.40
539,280.00
51,742.50
0.00
0.00
82,968.48
56,576.05

2,033,280.00
242,061.98
345,600.00
62,091.00
1,128,672.00
475,200.00
528,353.28
647,136.00
62,091.00
0.00
0.00
99,562.18
0.00

2,439,936.00
290,474.38
414,720.00
74,509.20
1,354,406.40
570,240.00
634,023.94
776,563.20
74,509.20
0.00
0.00
119,474.61
0.00

2,927,923.20
348,569.26
497,664.00
89,411.04
1,625,287.68
684,288.00
760,828.72
931,875.84
89,411.04
0.00
0.00
143,369.53
0.00

86,237.50
78,347.00
4,195,330.37

103,485.00

124,182.00

149,018.40

178,822.08

4,846,767.25

5,748,229.44

6,897,875.33

8,277,450.39

Total Expenses

4,195,330.37

4,846,767.25

5,748,229.44

6,897,875.33

8,277,450.39

Loan Repayment

Profit before tax (Net Sales less Expenses)

Allowance for the year @ 66 2/3%
Taxable Profit
Taxes incured (30%)
Education Tax (2%)
Taxable Liability
Net Profit after tax
Profit Brought Forward
Profit Carried Forward

1,177,630.80
5,372,961.18

0.00

0.00

2,577,814.82

4,694,163.95

5,700,888.00

6,841,065.60

8,209,278.72

1,718,543.04
859,271.78
257,781.53
17,185.44
274,966.97

3,129,442.32
1,564,721.63
469,416.49
31,294.43
500,710.92

3,800,591.62
1,900,296.38
570,088.91
38,005.93
608,094.84

4,560,709.94
2,280,355.66
684,106.70
45,607.11
729,713.81

5,472,851.93
2,736,426.79
820,928.04
54,728.54
875,656.57

2,302,847.85
0.00
2,302,847.85

4,193,453.03
2,302,847.85
6,496,300.88

5,092,793.16
6,496,300.88
11,589,094.04

6,111,351.79
11,589,094.04
17,700,445.83

7,333,622.15
17,700,445.83
25,034,067.98

NOTES:
Estimated sales increase is projected at 15%/yr from the second year.
Cost of goods sold is projected at 10%/yr from the second year.
Expenses will also increase by 10%

3 of 28

Table 4: Projected Cashflow Statement for Two years

ITEMS
Start-up

Month 1
Oct.

Month 2
Nov.

Month 3
Dec.

Month 4
Jan

Month 5
Feb

Month 6
Mar

Month 7
Apr

Month 8
May

Month 9
Jun

Month 10
Jul

Month 11
Aug

Month 12
Sep

Yr. 1 Total

INCOME
Cash Sales
Receivables Collected
Owner's Investment
Loan/Investment
Asset Disposals
Other Cash received
Total Cash in

551,575.00
1,178,667.67
1,730,242.67

219,493.33

438,986.67

658,480.00

658,480.00

1,316,960.00

1,975,440.00

438,986.67

877,973.33

1,316,960.00

877,973.33

1,755,946.67

2,633,920.00

219,493.33

438,986.67

658,480.00

658,480.00

1,316,960.00

1,975,440.00

438,986.67

877,973.33

1,316,960.00

877,973.33

1,755,946.67

2,633,920.00

13,169,600.00
551,575.00
1,178,667.67
14,899,842.67

Available Cash balance

1,730,242.67

219,493.33

438,986.67

658,480.00

658,480.00

1,316,960.00

1,975,440.00

438,986.67

877,973.33

1,316,960.00

877,973.33

1,755,946.67

2,633,920.00

14,899,842.67

50,868.10
4,389.87
5,487.33
5,487.33
66,232.64

101,736.21
8,779.73
10,974.67
10,974.67
132,465.27

152,604.31
13,169.60
16,462.00
16,462.00
198,697.91

203,472.41
13,169.60
16,462.00
16,462.00
249,566.01

254,340.51
26,339.20
32,924.00
32,924.00
346,527.71

305,208.62
39,508.80
49,386.00
49,386.00
443,489.42

356,076.72
8,779.73
10,974.67
10,974.67
386,805.78

406,944.82
17,559.47
21,949.33
21,949.33
468,402.95

457,812.92
26,339.20
32,924.00
32,924.00
550,000.12

508,681.03
17,559.47
21,949.33
21,949.33
570,139.16

559,549.13
35,118.93
43,898.67
43,898.67
682,465.39

610,417.23
52,678.40
65,848.00
65,848.00
794,791.63

3,967,712.00
263,392.00
329,240.00
329,240.00
4,889,584.00

CASH PAID OUT

Cost of Goods Sold
Stock
Discounts
Commissions
PRs
Other 1
Total Cost of Goods Sold

Capital Expenses
Equipment & Accessories
Furniture & Fittings
Land/Buildings
Other
Total Capital Expenses
Operating Expenses
BOD's Expenses
Payroll
Other Payroll Expenses
Rent
Bills
Advert
Maintenance
Insurance
Bank Charges
Consumables
Interests
Misc (Transp, etc)
Total Operating Expenses
Other Cash Payments
Loan Repayments
Mortgage repayments
Dividends paid/Profits shared
Tax paid
Total Other Cash Payments
Total Cash Out
SUMMARY
Balance
Bank Balance

20,000.00
117,666.67
-

319,349.23

319,349.23

1,410,893.44
1,410,893.44

20,000.00
117,666.67
65,316.67

20,000.00
117,666.67
65,316.67
74,900.00

3,457.02
40,768.00
8,970.61
6,528.92
262,707.88

6,914.04
40,768.00
8,013.08
6,528.92
340,107.37

20,000.00
117,666.67
65,316.67

20,000.00
117,666.67
65,316.67
74,900.00

20,000.00
117,666.67
65,316.67

21,559.38
10,371.06
40,768.00
7,045.98
6,528.92
289,256.67

2,304.68
40,768.00
6,069.21
6,528.92
333,554.14

2,304.68
10,857.31
6,528.92
222,674.24

92,936.52
92,936.52

93,865.88
93,865.88

94,804.54
94,804.54

95,752.59
95,752.59

96,710.11
96,710.11

97,677.21
97,677.21

98,653.99
98,653.99

99,640.53
99,640.53

100,636.93
100,636.93

101,643.30
101,643.30

102,659.73
102,659.73

102,649.47
274,966.97
377,616.44

1,177,630.80
274,966.97
1,452,597.77

456,520.42

449,005.40

612,849.75

608,026.47

783,345.20

830,423.29

819,013.91

828,015.76

1,008,376.98

929,751.96

1,121,587.56

1,459,112.64

10,005,378.57

(237,027.09)
1,173,866.35

(10,018.73)
1,163,847.62

45,630.25
1,209,477.87

50,453.53
1,259,931.40

533,614.80
1,793,546.20

1,145,016.71
2,938,562.91

49,957.58
2,608,493.24

308,583.02
2,917,076.26

(51,778.63)
2,865,297.63

634,359.11
3,499,656.73

1,174,807.36
4,674,464.10

4,894,464.10

(380,027.24)
2,558,535.66

20,000.00
117,666.67
65,316.67

1,152.34
11,786.68
6,528.92
297,351.27

65,316.67
74,900.00

20,000.00
117,666.67
65,316.67

20,000.00
117,666.67
65,316.67
74,900.00
21,559.38
3,457.02
9,918.65
6,528.92
319,347.30

220,000.00

43,118.75
56,230.48

20,000.00
117,666.67
65,316.67

20,000.00
117,666.67
65,316.67
74,900.00

4,609.36
40,768.00
5,082.67
6,528.92
259,972.28

20,000.00
117,666.67
65,316.67
74,900.00
21,559.38
6,914.04
40,768.00
4,086.26
6,528.92
357,739.93

4,609.36
40,768.00
3,079.89
6,528.92
257,969.50

9,218.72
40,768.00
2,063.46
6,528.92
336,462.43

21,559.38
13,828.08
40,768.00
1,036.86
6,528.92
286,704.57

240,000.00
1,412,000.00
783,800.00
449,400.00
86,237.50
43,118.75
125,370.88
366,912.00
78,010.67
78,347.00
3,663,196.80

4 of 28

Table 4: Projected Cashflow Statement for Two years

ITEMS
Month 13

INCOME
Cash Sales
Receivables Collected
Owner's Investment
Loan/Investment
Asset Disposals
Other Cash received
Total Cash in

Month 14

Month 16

Month 17

Month 18

Month 19

Month 20

Month 21

Month 22

Month 23

Month 24

Yr. 2 Total

526,784.00

790,176.00

790,176.00

1,580,352.00

2,370,528.00

526,784.00

1,053,568.00

1,580,352.00

1,053,568.00

2,107,136.00

3,160,704.00

263,392.00

526,784.00

790,176.00

790,176.00

1,580,352.00

2,370,528.00

526,784.00

1,053,568.00

1,580,352.00

1,053,568.00

2,107,136.00

Available Cash balance

263,392.00

526,784.00

790,176.00

790,176.00

1,580,352.00

2,370,528.00

526,784.00

1,053,568.00

1,580,352.00

1,053,568.00

CASH PAID OUT

Cost of Goods Sold
Stock
Discounts
Commissions
PRs
Other 1
Total Cost of Goods Sold

61,041.72
5,267.84
6,584.80
6,584.80
79,479.16

122,083.45
10,535.68
13,169.60
13,169.60
158,958.33

183,125.17
15,803.52
19,754.40
19,754.40
238,437.49

244,166.89
15,803.52
19,754.40
19,754.40
299,479.21

305,208.62
31,607.04
39,508.80
39,508.80
415,833.26

366,250.34
47,410.56
59,263.20
59,263.20
532,187.30

427,292.06
10,535.68
13,169.60
13,169.60
464,166.94

488,333.78
21,071.36
26,339.20
26,339.20
562,083.54

549,375.51
31,607.04
39,508.80
39,508.80
660,000.15

610,417.23
21,071.36
26,339.20
26,339.20
684,166.99

Capital Expenses
Equipment & Accessories
Furniture & Fittings
Land/Buildings
Other
Total Capital Expenses
Operating Expenses
BOD's Expenses
Payroll
Other Payroll Expenses
Rent
Bills
Advert
Maintenance
Insurance
Bank Charges
Consumables
Interests
Misc (Transp, etc)
Total Operating Expenses
Other Cash Payments
Loan Repayments
Mortgage repayments
Dividends paid/Profits shared
Tax paid
Total Other Cash Payments

263,392.00
-

Month 15

141,200.00
78,380.00
89,880.00
51,742.50
1,382.81
362,585.31

141,200.00
78,380.00

2,765.62
222,345.62

141,200.00
78,380.00
89,880.00
25,871.25
4,148.42
339,479.67

141,200.00
78,380.00

4,148.42
48,921.60
272,650.02

141,200.00
78,380.00
89,880.00
8,296.85
48,921.60
366,678.45

141,200.00
78,380.00
25,871.25
12,445.27
48,921.60
306,818.12

Total Cash Out

442,064.47

381,303.94

577,917.16

572,129.24

782,511.70

839,005.42

SUMMARY
Balance
Bank Balance

(178,672.47)
(178,672.47)

145,480.06
(33,192.41)

212,258.84
179,066.42

218,046.76
397,113.19

797,840.30
1,194,953.48

1,531,522.58
2,726,476.06

141,200.00
78,380.00
89,880.00
2,765.62
48,921.60
361,147.22

825,314.16

(298,530.16)
2,427,945.91

141,200.00
78,380.00

5,531.23
48,921.60
274,032.83

141,200.00
78,380.00
89,880.00
25,871.25
8,296.85
48,921.60
392,549.70

141,200.00
78,380.00

5,531.23
48,921.60
274,032.83

Month 25

15,803,520.00
-

316,070.40
-

3,160,704.00

15,803,520.00

316,070.40

2,107,136.00

3,160,704.00

15,803,520.00

316,070.40

671,458.95
42,142.72
52,678.40
52,678.40
818,958.47

732,500.68
63,214.08
79,017.60
79,017.60
953,749.96

4,761,254.40
316,070.40
395,088.00
395,088.00
5,867,500.80

73,250.07
6,321.41
7,901.76
7,901.76
95,375.00

141,200.00
78,380.00
89,880.00
11,062.46
48,921.60
369,444.06

141,200.00
78,380.00

25,871.25
16,593.70
48,921.60
310,966.55

1,694,400.00
940,560.00
539,280.00
103,485.00
51,742.50
82,968.48
440,294.40
3,852,730.38

500,710.92
500,710.92

500,710.92
500,710.92

169,440.00
94,056.00
107,856.00
62,091.00
1,659.37
435,102.37

836,116.38

1,052,549.85

958,199.82

1,188,402.54

1,765,427.42

10,220,942.10

530,477.37

217,451.62
2,645,397.53

527,802.15
3,173,199.68

95,368.18
3,268,567.86

918,733.46
4,187,301.32

1,395,276.58
5,582,577.90

5,582,577.90

(214,406.97)
(214,406.97)

5 of 28

Table 4: Projected Cashflow Statement for Two years

ITEMS
Month 26

INCOME
Cash Sales
Receivables Collected
Owner's Investment
Loan/Investment
Asset Disposals
Other Cash received
Total Cash in

Month 27

Month 28

Month 29

Month 30

Month 31

Month 32

Month 33

Month 34

Month 35

Month 36

Yr. 3 Total

632,140.80

948,211.20

948,211.20

1,896,422.40

2,844,633.60

632,140.80

1,264,281.60

1,896,422.40

1,264,281.60

2,528,563.20

3,792,844.80

18,964,224.00
18,964,224.00

Available Cash balance

632,140.80

948,211.20

948,211.20

1,896,422.40

2,844,633.60

632,140.80

1,264,281.60

1,896,422.40

1,264,281.60

2,528,563.20

3,792,844.80

18,964,224.00

CASH PAID OUT

Cost of Goods Sold
Stock
Discounts
Commissions
PRs
Other 1
Total Cost of Goods Sold

146,500.14
12,642.82
15,803.52
15,803.52
190,749.99

219,750.20
18,964.22
23,705.28
23,705.28
286,124.99

293,000.27
18,964.22
23,705.28
23,705.28
359,375.05

366,250.34
37,928.45
47,410.56
47,410.56
498,999.91

439,500.41
56,892.67
71,115.84
71,115.84
638,624.76

512,750.47
12,642.82
15,803.52
15,803.52
557,000.33

586,000.54
25,285.63
31,607.04
31,607.04
674,500.25

659,250.61
37,928.45
47,410.56
47,410.56
792,000.18

732,500.68
25,285.63
31,607.04
31,607.04
821,000.39

805,750.74
50,571.26
63,214.08
63,214.08
982,750.17

879,000.81
75,856.90
94,821.12
94,821.12
1,144,499.95

5,713,505.28
379,284.48
474,105.60
474,105.60
7,041,000.96

Capital Expenses
Equipment & Accessories
Furniture & Fittings
Land/Buildings
Other
Total Capital Expenses
Operating Expenses
BOD's Expenses
Payroll
Other Payroll Expenses
Rent
Bills
Advert
Maintenance
Insurance
Bank Charges
Consumables
Interests
Misc (Transp, etc)
Total Operating Expenses
Other Cash Payments
Loan Repayments
Mortgage repayments
Dividends paid/Profits shared
Tax paid
Total Other Cash Payments

632,140.80

948,211.20

948,211.20

1,896,422.40

2,844,633.60

632,140.80

1,264,281.60

1,896,422.40

1,264,281.60

2,528,563.20

3,792,844.80

169,440.00
94,056.00

3,318.74
266,814.74

169,440.00
94,056.00
107,856.00
31,045.50
4,978.11
407,375.61

169,440.00
94,056.00

169,440.00
94,056.00
107,856.00

4,978.11
58,705.92
327,180.03

9,956.22
58,705.92
440,014.14

169,440.00
94,056.00
31,045.50
14,934.33
58,705.92
368,181.75

169,440.00
94,056.00
107,856.00

169,440.00
94,056.00

3,318.74
58,705.92
433,376.66

6,637.48
58,705.92
328,839.40

169,440.00
94,056.00
107,856.00
31,045.50
9,956.22
58,705.92
471,059.64

169,440.00
94,056.00

169,440.00
94,056.00
107,856.00

6,637.48
58,705.92
328,839.40

13,274.96
58,705.92
443,332.88

169,440.00
94,056.00

31,045.50
19,912.44
58,705.92
373,159.86

2,033,280.00
1,128,672.00
647,136.00
124,182.00
62,091.00
99,562.18
528,353.28
4,623,276.46

608,094.84
608,094.84

608,094.84
608,094.84

Total Cash Out

457,564.73

693,500.60

686,555.08

939,014.04

1,006,806.50

990,376.99

1,003,339.65

1,263,059.81

1,149,839.79

1,426,083.05

2,125,754.65

12,272,372.26

SUMMARY
Balance
Bank Balance

174,576.07
(39,830.90)

254,710.60
214,879.71

261,656.12
476,535.82

957,408.36
1,433,944.18

1,837,827.10
3,271,771.28

(358,236.19)
2,913,535.09

260,941.95
3,174,477.04

633,362.59
3,807,839.62

114,441.81
3,922,281.43

1,102,480.15
5,024,761.59

1,667,090.15
6,691,851.74

6,691,851.74

6 of 28

Table 6: Balance Sheet

COST

DEPRECIATION

NBV

Intangible Assets
Goodwill
Patent Rights

Tangible Assets
Fixed Assets
Land and Building
Equipment & Accessories
Furniture & Fittings
Motor Vehicle

234,500.00
595,350.00
-

Investment

234,500.00
595,350.00
829,850.00

Current Assets
Debtors
Stock
Cash at Bank
Cash in Hand

3,967,712.00
1,750,000.00
5,717,712.00

Current Liabilities
Creditors
Taxation
Wages Due
Salaries Due
Commissions Due
Overdraft

274,966.97
(274,966.97)

Working Capital

5,442,745.03
6,272,595.03
-

Financed By
Authorised Share Capital
Issued and Fully Paid up
Director's Current Account
Bank Loan
Private Loan
Hire Purchase
Mortgage
Profit and Loss

100,000.00
100,000.00
2,691,079.51
1,178,667.67
2,302,847.85
6,272,595.03

7 of 28

TABLE 5 - Biz Ratios

SNO

ITEM

Return on Equity

Profit Margin Ratio

Return on Investment

Operating Ratio

Investment Rate of Return

RATIO
467%
60%
195%
41%
180%

Business Plan Financials

Table 8: Sensitivity Analysis

Base
Initial Investment

Base + 10%

Base + 20%

Base - 10%

Base - 20%

(1,730,242.67)

(1,730,242.67)

(1,730,242.67)

(1,730,242.67)

(1,730,242.67)

Net Income for Year 1

2,302,847.85

2,533,132.64

2,763,417.42

2,072,563.07

1,842,278.28

Net Income for Year 2

4,193,453.03

4,612,798.33

5,032,143.64

3,774,107.73

3,354,762.42

Net Income for Year 3

5,092,793.16

5,602,072.47

6,111,351.79

4,583,513.84

4,074,234.53

Net Income for Year 4

6,111,351.79

6,722,486.97

7,333,622.15

5,500,216.61

4,889,081.43

Net Income for Year 5

7,333,622.15

8,066,984.36

8,800,346.58

6,600,259.93

5,866,897.72

Investment Rate of Return

Return on Equity

180%
133.09

195%
146.40

210%
159.71

165%
119.78

149%
106.48

9 of 28

Table 6 - Yearly Loan Amortization Schedule

Loan amount
Annual interest rate
Loan period in years
Number of payments per year
Start date of loan
Optional extra payments

Enter values
1,178,667.67
12.00 %
1
12
10/1/2011

Scheduled payment
Scheduled number of payments
Actual number of payments
Total early payments
Total interest

Loan summary
104,723.19
12
12
78,010.67

Lender name:
Pmt.
No.
1
2
3
4
5
6
7
8
9
10
11
12

Payment Date
11/1/2011
12/1/2011
1/1/2012
2/1/2012
3/1/2012
4/1/2012
5/1/2012
6/1/2012
7/1/2012
8/1/2012
9/1/2012
10/1/2012

Beginning Balance
1,178,667.67
1,085,731.15
991,865.27
897,060.72
801,308.14
704,598.02
606,920.81
508,266.82
408,626.30
307,989.37
206,346.06
103,686.33

Scheduled Payment
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19

Extra Payment
-

Total Payment
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
104,723.19
103,686.33

Principal
92,936.52
93,865.88
94,804.54
95,752.59
96,710.11
97,677.21
98,653.99
99,640.53
100,636.93
101,643.30
102,659.73
102,649.47

Interest
11,786.68
10,857.31
9,918.65
8,970.61
8,013.08
7,045.98
6,069.21
5,082.67
4,086.26
3,079.89
2,063.46
1,036.86

Ending Balance
1,085,731.15
991,865.27
897,060.72
801,308.14
704,598.02
606,920.81
508,266.82
408,626.30
307,989.37
206,346.06
103,686.33
-

Cumulative Interest
11,786.68
22,643.99
32,562.64
41,533.25
49,546.33
56,592.31
62,661.52
67,744.19
71,830.45
74,910.34
76,973.80
78,010.67

Appendix 1: Office Setup

S/No.

Item

Qty

PRELIMINARY EXPENSES
Company Registration
Professional Fees - Concept Study, Biz Plan, &
Marketing Plan

Rate

Amount (N)

70,000.00

70,000.00

150,000.00

150,000.00
220,000.00
0.00
220,000.00

To Be Sourced

Owners' Contribution

70,000.00

0.00
0.00
0.00

150,000.00
220,000.00
0.00
220,000.00

Rent
Rent of Shop
Agency Fee (5%)
Legal Fees (5%)

Grand Total:

300,000.00

300,000.00
15,000.00
15,000.00
330,000.00

0.00

0.00

300,000.00
15,000.00
15,000.00
330,000.00

330,000.00

0.00

330,000.00

550,000.00

0.00

550,000.00

11 of 28

Appendix 2: Furniture, Fittings & Machinery

S/No.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

Item

Qty

FURNITURE & FITTINGS

Fridge
Interior Decors/Partitioning
1.5 HP AC
TV
DVD Player
Rechargeable Lamps
MD's Table
MD's Chair
MD's Visitors Chair
File Cabinet
Shop Table
Shop Chair
Visitors Chairs
Fans
Generating Set
Pressing Iron
Manequin
Showglass
DSTV INSTALLATION
Misc - Transport, Installation, etc (5%)

Grand Total:

1
1
2
1
1
2
1
1
2
1
4
4
3
4
1
1
2
1
1

Rate

25,000.00
100,000.00
90,000.00
20,000.00
10,000.00
3,500.00
4,000.00
1,500.00
1,500.00
10,000.00
3,000.00
1,500.00
1,500.00
3,500.00
50,000.00
5,000.00
25,000.00
50,000.00
15,000.00

Amount (N)

25,000.00
100,000.00
180,000.00
20,000.00
10,000.00
7,000.00
4,000.00
1,500.00
3,000.00
10,000.00
12,000.00
6,000.00
4,500.00
14,000.00
50,000.00
5,000.00
50,000.00
50,000.00
15,000.00
567,000.00
28,350.00
595,350.00

To Be Sourced

0.00
100,000.00
0.00
20,000.00
10,000.00
7,000.00
4,000.00
1,500.00
3,000.00
10,000.00
12,000.00
6,000.00
4,500.00
14,000.00
50,000.00
5,000.00
50,000.00
50,000.00
0.00
347,000.00
17,350.00
364,350.00

Owner's Contribution

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
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

595,350.00

12 of 28

Appendix 3: Equipment and Accessories

S/NO
A.
1
2
3
4

ITEM

Butterfly Machine
Industrial Weaving Machine
Button Hole Machine
Embroidery Machine

QTY
Equipment
4
1
1
1

RATE

OWNERS'
CONTRIBUTION

72,000.00
55,000.00
26,000.00
55,000.00
208,000.00
31,200.00
239,200.00

72,000.00
55,000.00
26,000.00
55,000.00
208,000.00
31,200.00
239,200.00

0.00
0.00
0.00

500.00
100.00
150.00
1,000.00
500.00
350.00

2,000.00
100.00
150.00
1,000.00
500.00
22,750.00
26,500.00
1,325.00
27,825.00

2,000.00
100.00
150.00
1,000.00
500.00
22,750.00
26,500.00
1,325.00
27,825.00

0.00
0.00
0.00

Total Equipment Cost

267,025.00

267,025.00

0.00

Scissors
Tape
Tailor's Chalk
Sand papers
Needles
Hanger

To Be Sourced

18,000.00
55,000.00
26,000.00
55,000.00

Misc (Freight, Custom & Installation)

B.
1
2
3
4
5
6

TOTAL COST

Accessories
4
1
1
1
1
65

Misc

13 of 28

Appendix 4: Production Costs

S/No.

A
1
2
3

B
1
2
3
4
5
6

Items

Qty

Stock/COGS
MATERIALS
Grade 1 Material (High Quality yards)
Grade 2 Material (Medium Quality yards)
Grade 3 Material (Low Quality yards)
Grade 1 Beads
Grade 2 Beads
Grade 3 Beads
Jewelrries (GL or CC)
Earings & Bangles
Pendants & Earings
Grade 1 hats
Grade 2 hats

346
806
1152
52
104
260
416
208
104
52
208

Unit
Price/yard

1,333.33
583.33
250.00
10,000.00
8,000.00
600.00
300.00
300.00
600.00
6,000.00
1,500.00

Yearly Total

460,800.00
470,400.00
288,000.00
520,000.00
832,000.00
156,000.00
124,800.00
62,400.00
62,400.00
312,000.00
312,000.00
3,600,800.00

To Be Sourced

38,400.00
39,200.00
24,000.00
43,333.33
69,333.33
13,000.00
10,400.00
5,200.00
5,200.00
26,000.00
26,000.00
300,066.67

Owners' Contribution

CONSUMABLES
Lining
Zips
Stay
Thread
Buttons
Beads

1536
768
384
1536
3840
3840

80.00
50.00
50.00
10.00
10.00
30.00

Misc - Transport

Grand Total:

122,880.00
38,400.00
19,200.00
15,360.00
38,400.00
115,200.00
349,440.00
17,472.00
366,912.00

10,240.00
3,200.00
1,600.00
1,280.00
3,200.00
9,600.00
29,120.00
1,456.00
30,576.00

0.00
0.00

3,967,712.00

330,642.67

0.00

Estimate based on sewing 3 nos 3-yard dress every 3 days by 3 tailors

dresses per week

no of tailors
no of dresses per month
no of dresses per year
No of yards

4
4
16
64
768
2304
14 of 28

Appendix 5: Bills
S/No
1
2
3
4
6
7
8
9
10
11
12
13
14

Item
Phone Bills
GSM Bills
NEPA Bills
Internet Subscription
Fuel for Generator
AMAC Dues
DSTV
Transport expenses
Refreshments
Newspapers/Magazine
Registration with Associations
Contigencies (Imprest)
Audit expenses

Qty
0
1
1
0
1
1
1
1
1
8
1
1
1

Rate
10,000.00
6,000.00
5,000.00
8,000.00
19,500.00
30,000.00
2,800.00
5,000.00
2,500.00
200.00
25,000.00
10,000.00
100,000.00

Monthly
0.00
6,000.00
5,000.00
0.00
19,500.00

Qrtly

10,000.00

0.00
18,000.00
15,000.00
0.00
58,500.00
0.00
8,400.00
15,000.00
7,500.00
4,800.00
0.00
30,000.00

52,400.00

157,200.00

2,800.00
5,000.00
2,500.00
1,600.00

Yearly
0.00
72,000.00
60,000.00
0.00
234,000.00
30,000.00
33,600.00
60,000.00
30,000.00
19,200.00
25,000.00
120,000.00
100,000.00
783,800.00

To Be Sourced

Owners' Contribution

0.00
6,000.00
5,000.00
0.00
19,500.00
2,500.00
2,800.00
5,000.00
2,500.00
1,600.00
2,083.33
10,000.00

56,983.33

15 of 28

Appendix 6: Publicity & Adverts

S/No.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Item

Brochures & fliers

Website
Signboard
Press releases
Newspaper Adverts
Complimentaries
Exhibitions
Yellow pages
Jingles Production
Events Sponsorship
Radio Adverts
TV Adverts
Talkshows
Bulk SMS
Marketing Expenses

Marketing Management (5%)

Slots

1
1
2
0
0
0
2
1
0
1
0
0
0
6000
12

Rate

30,000.00
50,000.00
10,000.00
50,000.00
26,000.00
50,000.00
30,000.00
20,000.00
250,000.00
50,000.00
5,000.00
30,000.00
750,000.00
3.00
15,000.00

Total

To Be Sourced

Owners' Contrib.

30,000.00
50,000.00
20,000.00
0.00
0.00
0.00
60,000.00
20,000.00
0.00
50,000.00
0.00
0.00
0.00
18,000.00
180,000.00
428,000.00

15,000.00

0.00
0.00
0.00
0.00
15,000.00
40,000.00

21,400.00

2,000.00

75.00

449,400.00

42,000.00

1,575.00

10,000.00
0.00
0.00

0.00

1,500.00
1,500.00

16 of 28

Appendix 7: Personnel Salaries & Wages

S/NO.

NAME

No.
COMM.

Salaries
1
2
3
4

CEO
Tailors
Cashier
Office Assistants

1
4
1
1

10,666.67

RATE
BASIC
5000
30,000.00
7,500.00
10,000.00
5,000.00

7
Other Payroll Expenses
2
End of year Bonus
3
Incentives

NOTE:

MTHLY

QTRLY

30,000.00
72,666.67
10,000.00
5,000.00
117,666.67

YRLY

To Be Sourced

90,000.00
218,000.00
30,000.00
15,000.00
353,000.00

360,000.00
872,000.00
120,000.00
60,000.00
1,412,000.00

30,000.00
72,666.67
10,000.00
5,000.00
117,666.67

0.00

0.00

84,049.30
84,049.30
168,098.60

0.00

117,666.67

353,000.00

1,580,098.60

117,666.67

84,049.30
84,049.30

Owners' Contrib.

0.00

Not all positions are represented here in terms of costing as this is for the purpose of start up

17 of 28

Appendix 8: Board of Director's Expenses

S/NO
A
1
2
3
4
5
6

B
1
2
3
4

DETAILS

QTY

FREQ.

MEETINGS
Hotel
Feeding/Refreshment
Movement within Town
Travel Expenses
Sitting Allowances
Secretariat
Total Meetings

0
0
0
0
0
0

3
3
3
3
3
3

AGM
Hall Rental
Feeding
Secretariat
Sitting Allowances

COST

30,000.00
5,000.00
5,000.00
15,000.00
50,000.00
40,000.00

0
0
0
0

1
1
1
1

30,000.00
5,000.00
100,000.00
50,000.00

12

10,000.00

Total AGM
C
1

DIRECTOR'S EXPENSES
Renumeration
Total Renumeration
Grand Total

AMOUNT

To Be Sourced

OWNERS' CONTRIB

240,000.00
240,000.00

240,000.00

Note: Profit sharing (dividends) to be determined by the Shareholders, as proposed by the BOD at the AGM.

18 of 28

Appendix 10: Estimated Sales

S/NO.
1
2
3
4
5
6
7
8
9
10
11
12
13
14

DESCRIPTION
Grade 1 Dresses
Grade 2 Dresses
Grade 3 Dresses
Grade 1 Beads
Grade 2 Beads
Grade 3 Beads
Jewelrries (GL or CC)
Earings & Bangles
Pendants & Earings
Grade 1 hats
Grade 2 hats
Walk-in Seamstress Services
Custuming Services - Sale
Custuming Services - Rental

TARGET /
MTH
115
269
384
52
104
260
416
208
104
52
208
240
24
84

RATE
16,000.00
7,000.00
3,000.00
25,000.00
15,000.00
2,000.00
500.00
600.00
2,000.00
15,000.00
4,000.00
4,000.00
40,000.00
10,000.00

TOTAL/YR

REMARKS

1,843,200.00
1,881,600.00
1,152,000.00
1,300,000.00
1,560,000.00
520,000.00
208,000.00
124,800.00
208,000.00
780,000.00
832,000.00
960,000.00
960,000.00
840,000.00
13,169,600.00

19 of 28

2011
2012
2013

Sales
Gross Margin
13,169,600.00
7,950,776.00
15,803,520.00
9,540,931.20
18,964,224.00 11,449,117.44

Net Profit
2,577,814.82
4,694,163.95
5,700,888.00

20,000,000.00
18,000,000.00
16,000,000.00

14,000,000.00
12,000,000.00

Sales

10,000,000.00

Gross Margin

8,000,000.00

Net Profit

6,000,000.00
4,000,000.00
2,000,000.00
0.00

2011

2012

2013

Office Setup & Capital Expenses

Recurrent Expenses for first 3-months

Total Funding
1,730,242.67
548,867.67

Loans
1,178,667.67
547,292.67

Investment
551,575.00
1,575.00

2,000,000.00
1,800,000.00
1,600,000.00
1,400,000.00
1,200,000.00
Total Funding

1,000,000.00
800,000.00

Loans

600,000.00

Investment

400,000.00
200,000.00
0.00
Office Setup & Capital
Expenses

Recurrent Expenses for

first 3-months

Month 1
Month 2
Month 3
Month 4
Month 5
219,493.33
438,986.67
658,480.00
658,480.00
1,316,960.00

3,000,000.00
2,500,000.00
2,000,000.00
1,500,000.00
1,000,000.00
500,000.00
Month 1

Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
1,975,440.00
438,986.67
877,973.33
1,316,960.00
877,973.33
1,755,946.67

Month 12

Month 11

Month 10

Month 9

Month 8

Month 7

Month 6

Month 5

Month 1
Month 2
Month 3
Month 4

Series1

Month 12
2,633,920.00

Month 3
658,480.00
319,347.30
94,804.54
45,630.25

Month 4
658,480.00
262,707.88
95,752.59
50,453.53

Month 5
1,316,960.00
340,107.37
96,710.11
533,614.80

3,000,000.00
2,500,000.00
2,000,000.00
1,500,000.00
1,000,000.00
500,000.00
Month 9

Month 8

Month 7

Month 6

Month 10

(1,000,000.00)

Month 5

(500,000.00)

Month 4

Month 3

Month 2
438,986.67
222,674.24
93,865.88
(10,018.73)

Month 2

Month 1
219,493.33
297,351.27
92,936.52
(237,027.09)

Month 1

Inflows
Operating Costs
Other Payments
Net Cash Flow

Month 6
1,975,440.00
289,256.67
97,677.21
1,145,016.71

Month 7
438,986.67
333,554.14
98,653.99
(380,027.24)

Inflows
Operating Costs
Other Payments

Month 12

Month 11

Month 10

Net Cash Flow

Month 8
877,973.33
259,972.28
99,640.53
49,957.58

Month 9
1,316,960.00
357,739.93
100,636.93
308,583.02

Month 10
877,973.33
257,969.50
101,643.30
(51,778.63)

Month 11
1,755,946.67
336,462.43
102,659.73
634,359.11

Month 12
2,633,920.00
286,704.57
377,616.44
1,174,807.36

ITEM
Business Plan
Branding
Credit Established
Advert & Publicity
Funding
Procurements
Setting Up
Sealing Deals

MTH 1 MTH 2 MTH 3 MTH 4 MTH 5

1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4