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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 permission of _________________________. It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious harm or damage to _________________________. Upon request, this document is to be immediately returned to _________________________. ___________________ Signature ___________________ Name (typed or printed) ___________________ Date This is a business plan. It does not imply an offering of securities.
Table of Contents
1.0 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1 Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 Keys to Success . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 2 2
2.0
Company Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.1 Start-up Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2.2 Company Locations and Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.1 Product Description . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.1.1 Sourcing and Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2 Competitive Comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.3 Technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.4 Future Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Market Analysis Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.1 Market Segmentation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 Industry Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2.1 Industry Participants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2.2 Main Competitors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 6 7 8 8 8 9 10 10 10
3.0
4.0
5.0
Strategy and Implementation Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 5.1 Competitive Edge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 5.2 Marketing Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 6.1 Sales Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Management Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Financial Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.1 Break-even Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.2 Projected Profit and Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 Projected Cash Flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.4 Projected Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.5 Business Ratios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 14 15 18 19 19
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Highlights
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2002 2003 2004
1.1 Objectives
The objectives over the next three years for the Wilson Family Peach Farm are: Achieve sales revenues of approximately $18,000 by year three. Expand by purchasing an additional 50 acres of adjacent land by year three. Capitalize on the niche market for hybrid and specialty stone fruits. Increase yield per acre to achieve economies of scale.
1.2 Mission
The Mission of the Wilson Family Peach Farm is to provide a retirement occupation and supplemental income for the owners, Jared and Susan Wilson. In addition, the farm will provide a base for Dr. and Mrs. Wilson's ongoing research in the agriculture and nutritional fields.
Start-up
$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 Expenses Assets Investment Loans
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3.0 Products
The Wilson Family Peach Farm is planning to grow seven varieties of peaches and nectarines in the first three years including the Redhaven, Ishtara, Tenn Natural, Lovell, Bailey, Montclar, Starks Redleaf, and the famous Elberta. Once profitability has been established, the farm will begin to expand into more rare varieties such as the new Guardian, which has been proven to be well suited to the local environment. In addition, the owners will dedicate approximately ten acres to the growing of hybrids such as pluots, which are a combination of apricots and plums. Trees will be spaced 16 ft apart within rows 20 ft apart. Average yield per tree is expected to initially be 132 lbs/tree. Considering the prime area and some of the proprietary methods the Wilsons plan to implement, yields are expected to go up to as much as 160 lbs/tree. Expected yields per acre will be around 500 bushels. With the current trend toward high-density plantings of the dwarf, semi-dwarf and spur type trees, careful planning of cultivars (varieties), strains, rootstocks, and spacing will pay dividends. Marketing will target the local produce stands that often concentrate on hybrids and are able to offer higher margins for high-quality fruits. In addition, Mrs. Wilson has started to establish contracts with distributors to local grocery stores. Any damaged fruit that is still edible will be sold to canning factories.
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6.0 Sales
The following section outlines the sales forecast for Wilson Family Peach Farm for the next three years.
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Sales Monthly
$90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Peaches Nectarines
Sales by Year
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2002 2003 2004
Peaches Nectarines
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Break-even Analysis
$15,000 $10,000 $5,000 $0 ($5,000) ($10,000) $0 $6,000 $12,000 $18,000 $24,000 $30,000
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Table: Profit and Loss Pro Forma Profit and Loss Sales Direct Costs of Goods Other Production Expenses Cost of Goods Sold Gross Margin Gross Margin % Expenses: Payroll Sales and Marketing and Other Expenses Depreciation Leased Equipment Utilities Insurance Rent Payroll Taxes Other Total Operating Expenses Profit Before Interest and Taxes Interest Expense Taxes Incurred Net Profit Net Profit/Sales Include Negative Taxes 2002 $341,000 $102,300 $0 -----------$102,300 $238,700 70.00% $14,000 $36,625 $3,200 $8,000 $4,600 $13,800 $24,000 $2,100 $0 -----------$106,325 $132,375 $12,500 $35,963 $83,913 24.61% TRUE TRUE 2003 $354,640 $106,392 $0 -----------$106,392 $248,248 70.00% $8,000 $41,000 $5,000 $8,000 $6,000 $14,400 $24,000 $1,200 $0 -----------$107,600 $140,648 $11,750 $38,669 $90,229 25.44% TRUE 2004 $368,116 $110,435 $0 -----------$110,435 $257,681 70.00% $12,000 $41,000 $5,000 $8,000 $6,000 $14,400 $24,000 $1,800 $0 -----------$112,200 $145,481 $10,700 $40,434 $94,347 25.63%
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Profit Monthly
$35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 ($5,000) ($10,000) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Profit Yearly
$100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 2002 2003 2004
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$51,150 $289,850 $341,000 $0 $0 $0 $0 $0 $20,000 $361,000 2002 $44,618 $331,398 $376,016 $0 $0 $0 $0 $24,000 $0 $400,016 ($39,016) $88,704
$53,196 $301,444 $354,640 $0 $0 $0 $0 $0 $0 $354,640 2003 $30,392 $126,024 $156,416 $0 $0 $15,000 $40,000 $50,000 $50,000 $311,416 $43,224 $131,928
$55,217 $312,899 $368,116 $0 $0 $0 $0 $0 $0 $368,116 2004 $34,281 $233,559 $267,841 $0 $0 $6,000 $10,000 $0 $0 $283,841 $84,276 $216,204
Cash
$140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 ($20,000) ($40,000) ($60,000) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
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Appendix
Appendix Table: Sales Forecast Sales Forecast Sales Peaches Nectarines Total Sales Direct Cost of Sales Peaches Nectarines Subtotal Direct Cost of Sales Jan $40,000 $5,000 $45,000 Jan $12,000 $1,500 $13,500 Feb $55,000 $10,000 $65,000 Feb $16,500 $3,000 $19,500 Mar $65,000 $10,000 $75,000 Mar $19,500 $3,000 $22,500 Apr $73,000 $12,000 $85,000 Apr $21,900 $3,600 $25,500 May $42,000 $5,000 $47,000 May $12,600 $1,500 $14,100 Jun $24,000 $0 $24,000 Jun $7,200 $0 $7,200 Jul $0 $0 $0 Jul $0 $0 $0 Aug $0 $0 $0 Aug $0 $0 $0 Sep $0 $0 $0 Sep $0 $0 $0 Oct $0 $0 $0 Oct $0 $0 $0 Nov $0 $0 $0 Nov $0 $0 $0 Dec $0 $0 $0 Dec $0 $0 $0
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Appendix
Appendix Table: Personnel Personnel Plan Payroll Other Total People Total Payroll Jan $0 $0 1 $0 Feb $0 $0 1 $0 Mar $500 $0 1 $500 Apr $1,500 $0 1 $1,500 May $3,000 $0 1 $3,000 Jun $3,000 $0 1 $3,000 Jul $3,000 $0 1 $3,000 Aug $2,000 $0 1 $2,000 Sep $1,000 $0 1 $1,000 Oct $0 $0 1 $0 Nov $0 $0 1 $0 Dec $0 $0 1 $0
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Appendix
Appendix Table: General Assumptions General Assumptions Plan Month Current Interest Rate Long-term Interest Rate Tax Rate Sales on Credit % Other Calculated Totals Payroll Expense Sales on Credit New Accounts Payable Inventory Purchase Jan 1 10.00% 10.00% 30.00% 85.00% 0.00% $0 $38,250 $96,903 $94,950 Feb 2 10.00% 10.00% 30.00% 85.00% 0.00% $0 $55,250 $65,121 $55,950 Mar 3 10.00% 10.00% 30.00% 85.00% 0.00% $500 $63,750 $53,361 $40,500 Apr 4 10.00% 10.00% 30.00% 85.00% 0.00% $1,500 $72,250 $60,010 $43,680 May 5 10.00% 10.00% 30.00% 85.00% 0.00% $3,000 $39,950 $17,012 ($14,450) Jun 6 10.00% 10.00% 30.00% 85.00% 0.00% $3,000 $20,400 $13,329 ($7,200) Jul 7 10.00% 10.00% 30.00% 85.00% 0.00% $3,000 $0 $7,632 $0 Aug 8 10.00% 10.00% 30.00% 85.00% 0.00% $2,000 $0 $6,797 $0 Sep 9 10.00% 10.00% 30.00% 85.00% 0.00% $1,000 $0 $6,097 $0 Oct 10 10.00% 10.00% 30.00% 85.00% 0.00% $0 $0 $5,262 $0 Nov 11 10.00% 10.00% 30.00% 85.00% 0.00% $0 $0 $5,262 $0 Dec 12 10.00% 10.00% 30.00% 85.00% 0.00% $0 $0 $5,262 $0
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Appendix
Appendix Table: Profit and Loss Pro Forma Profit and Loss Sales Direct Costs of Goods Other Production Expenses Cost of Goods Sold Gross Margin Gross Margin % Expenses: Payroll Sales and Marketing and Other Expenses Depreciation Leased Equipment Utilities Insurance Rent Payroll Taxes Other Total Operating Expenses Profit Before Interest and Taxes Interest Expense Taxes Incurred Net Profit Net Profit/Sales Include Negative Taxes Jan $45,000 $13,500 $0 -----------$13,500 $31,500 70.00% $0 $2,750 $200 $0 $200 $600 $2,000 $0 $0 -----------$5,750 $25,750 $1,042 $7,413 $17,296 38.44% Feb $65,000 $19,500 $0 -----------$19,500 $45,500 70.00% $0 $2,700 $200 $0 $200 $600 $2,000 $0 $0 -----------$5,700 $39,800 $1,042 $11,628 $27,131 41.74% Mar $75,000 $22,500 $0 -----------$22,500 $52,500 70.00% $500 $2,775 $200 $0 $200 $600 $2,000 $75 $0 -----------$6,350 $46,150 $1,042 $13,533 $31,576 42.10% Apr $85,000 $25,500 $0 -----------$25,500 $59,500 70.00% $1,500 $2,800 $200 $2,000 $200 $600 $2,000 $225 $0 -----------$9,525 $49,975 $1,042 $14,680 $34,253 40.30% May $47,000 $14,100 $0 -----------$14,100 $32,900 70.00% $3,000 $2,800 $200 $2,000 $200 $600 $2,000 $450 $0 -----------$11,250 $21,650 $1,042 $6,183 $14,426 30.69% Jun $24,000 $7,200 $0 -----------$7,200 $16,800 70.00% $3,000 $3,400 $200 $2,000 $400 $1,200 $2,000 $450 $0 -----------$12,650 $4,150 $1,042 $933 $2,176 9.07% Jul $0 $0 $0 -----------$0 $0 0.00% $3,000 $2,900 $200 $1,000 $400 $1,200 $2,000 $450 $0 -----------$11,150 ($11,150) $1,042 ($3,658) ($8,534) 0.00% Aug $0 $0 $0 -----------$0 $0 0.00% $2,000 $2,900 $200 $1,000 $400 $1,200 $2,000 $300 $0 -----------$10,000 ($10,000) $1,042 ($3,313) ($7,729) 0.00% Sep $0 $0 $0 -----------$0 $0 0.00% $1,000 $3,400 $400 $0 $600 $1,800 $2,000 $150 $0 -----------$9,350 ($9,350) $1,042 ($3,118) ($7,274) 0.00% Oct $0 $0 $0 -----------$0 $0 0.00% $0 $3,400 $400 $0 $600 $1,800 $2,000 $0 $0 -----------$8,200 ($8,200) $1,042 ($2,773) ($6,469) 0.00% Nov $0 $0 $0 -----------$0 $0 0.00% $0 $3,400 $400 $0 $600 $1,800 $2,000 $0 $0 -----------$8,200 ($8,200) $1,042 ($2,773) ($6,469) 0.00% Dec $0 $0 $0 -----------$0 $0 0.00% $0 $3,400 $400 $0 $600 $1,800 $2,000 $0 $0 -----------$8,200 ($8,200) $1,042 ($2,773) ($6,469) 0.00%
15%
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Appendix
Appendix Table: Cash Flow Pro Forma Cash Flow Cash Received Cash from Operations: Cash Sales Cash from Receivables Subtotal Cash from Operations Additional Cash Received New Current Borrowing New Other Liabilities (interest-free) New Long-term Liabilities Sales of Other Current Assets Sales of Long-term Assets New Investment Received Subtotal Cash Received Expenditures Expenditures from Operations: Cash Spending Payment of Accounts Payable Subtotal Spent on Operations Additional Cash Spent Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Long-term Liabilities Principal Repayment Purchase Other Current Assets Purchase Long-term Assets Dividends Subtotal Cash Spent Net Cash Flow Cash Balance Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
$6,750 $0 $6,750 $0 $0 $0 $0 $0 $0 $6,750 Jan $12,051 ($11,555) $496 $0 $0 $0 $0 $2,000 $0 $2,496 $4,254 $131,974
$9,750 $1,275 $11,025 $0 $0 $0 $0 $0 $0 $11,025 Feb $8,998 $41,984 $50,982 $0 $0 $0 $0 $2,000 $0 $52,982 ($41,957) $90,017
$11,250 $38,817 $50,067 $0 $0 $0 $0 $0 $0 $50,067 Mar $7,863 $76,396 $84,260 $0 $0 $0 $0 $2,000 $0 $86,260 ($36,193) $53,824
$12,750 $55,533 $68,283 $0 $0 $0 $0 $0 $20,000 $88,283 Apr $8,717 $57,090 $65,807 $0 $0 $0 $0 $2,000 $0 $67,807 $20,476 $74,300
$7,050 $64,033 $71,083 $0 $0 $0 $0 $0 $0 $71,083 May $1,262 $80,517 $81,780 $0 $0 $0 $0 $2,000 $0 $83,780 ($12,697) $61,604
$3,600 $71,173 $74,773 $0 $0 $0 $0 $0 $0 $74,773 Jun $1,095 $46,146 $47,241 $0 $0 $0 $0 $2,000 $0 $49,241 $25,532 $87,136
$0 $39,298 $39,298 $0 $0 $0 $0 $0 $0 $39,298 Jul $702 $11,873 $12,575 $0 $0 $0 $0 $2,000 $0 $14,575 $24,724 $111,859
$0 $19,720 $19,720 $0 $0 $0 $0 $0 $0 $19,720 Aug $732 $8,178 $8,910 $0 $0 $0 $0 $2,000 $0 $10,910 $8,810 $120,669
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Appendix
Appendix Table: Balance Sheet Pro Forma Balance Sheet Assets Current Assets Cash Accounts Receivable Inventory Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth $0 $25,000 $25,000 $50,000 $100,000 $150,000 $175,000 ($57,000) $0 $118,000 $268,000 $118,000 Jan $108,458 $25,000 $25,000 $158,458 $100,000 $258,458 $175,000 ($57,000) $17,296 $135,296 $393,754 $135,296 Feb $131,595 $25,000 $25,000 $181,595 $100,000 $281,595 $175,000 ($57,000) $44,427 $162,427 $444,022 $162,427 Mar $108,560 $25,000 $25,000 $158,560 $100,000 $258,560 $175,000 ($57,000) $76,003 $194,003 $452,562 $194,003 Apr $111,479 $25,000 $25,000 $161,479 $100,000 $261,479 $195,000 ($57,000) $110,256 $248,256 $509,735 $248,256 May $47,974 $25,000 $25,000 $97,974 $100,000 $197,974 $195,000 ($57,000) $124,682 $262,682 $460,655 $248,232 Jun $15,156 $25,000 $25,000 $65,156 $100,000 $165,156 $195,000 ($57,000) $126,858 $264,858 $430,014 $243,208 Jul $10,916 $25,000 $25,000 $60,916 $100,000 $160,916 $195,000 ($57,000) $118,323 $256,323 $417,239 $234,673 Aug $9,535 $25,000 $25,000 $59,535 $100,000 $159,535 $195,000 ($57,000) $110,594 $248,594 $408,129 $226,944 Sep $10,066 $25,000 $25,000 $60,066 $100,000 $160,066 $195,000 ($57,000) $103,320 $241,320 $401,386 $219,670 Oct $10,525 $25,000 $25,000 $60,525 $100,000 $160,525 $195,000 ($57,000) $96,851 $234,851 $395,376 $213,201 Nov $10,651 $25,000 $25,000 $60,651 $100,000 $160,651 $195,000 ($57,000) $90,382 $228,382 $389,033 $206,732 Dec $10,651 $25,000 $25,000 $60,651 $100,000 $160,651 $195,000 ($57,000) $83,913 $221,913 $382,564 $200,263 Starting Balances $127,720 $0 $0 $0 $127,720 $140,280 $0 $140,280 $268,000 Jan $131,974 $38,250 $81,450 $0 $251,674 $142,280 $200 $142,080 $393,754 Feb $90,017 $92,225 $117,900 $0 $300,142 $144,280 $400 $143,880 $444,022 Mar $53,824 $117,158 $135,900 $0 $306,882 $146,280 $600 $145,680 $452,562 Apr $74,300 $133,875 $154,080 $0 $362,255 $148,280 $800 $147,480 $509,735 May $61,604 $109,792 $125,530 $0 $296,925 $150,280 $1,000 $149,280 $446,205 Jun $87,136 $59,018 $111,130 $0 $257,284 $152,280 $1,200 $151,080 $408,364 Jul $111,859 $19,720 $111,130 $0 $242,709 $154,280 $1,400 $152,880 $395,589 Aug $120,669 ($0) $111,130 $0 $231,799 $156,280 $1,600 $154,680 $386,479 Sep $112,326 ($0) $111,130 $0 $223,456 $158,280 $2,000 $156,280 $379,736 Oct $104,716 ($0) $111,130 $0 $215,846 $160,280 $2,400 $157,880 $373,726 Nov $96,773 ($0) $111,130 $0 $207,903 $162,280 $2,800 $159,480 $367,383 Dec $88,704 ($0) $111,130 $0 $199,834 $164,280 $3,200 $161,080 $360,914
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