rp draft akhiredit

8/8/2019 RP Draft AkhirEDIT

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DHIA BAKERY


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Confidentiality Agreement

The undersigned reader acknowledges that the information provided by in thisbusiness plan is confidential; therefore, reader agrees not to disclose it without the express writtenpermission of .

It is acknowledged by reader that information to be furnished in this business plan is in all respectsconfidential in nature, other than information which is in the public domain through other means andthat 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 ofsecurities.


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Table ofContents

1.0 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

1.1 Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.2 Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

2.0 Company Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.1 Company Ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32.2 Start-up Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

3.0 Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

4.0 Market Analysis Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54.1 Market Segmentation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64.2 Target Market Segment Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74.3 Industry Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

4.3.1 Competition and Buying Patterns . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

5.0 Strategy and Implementation Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85.1 Competitive Edge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85.2 Sales Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

5.2.1 Sales Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85.3 Milestones . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

6.0 Management Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126.1 Personnel Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

7.0 Financial Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137.1 Important Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

7.2 Break-even Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147.3 Projected Profit and Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157.4 Projected Cash Flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 187.5 Projected Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207 6 B i R ti 21


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DHIA BAKERY

1.0 Executive Summary

Executive Summary

DHIA Bakery is a new organic bakery specializing in gluten, wheat and dairy free products. Within

the last three years there has been significant increase in demand for these bakery products. This

can be explained to a large degree by the fact that up until recently Malaysia had food allergies

that have been undiagnosed. It has been only in the last few years that medical doctors have

begun to diagnosis food allergies correctly. What was once an unknown problem that affected so

many people with no recourse has become a manageable ailment that is easily dealt with through

modification of diet. Besides, most of student in Malaysia made PTPTN money and need to save

their money virtually. So, DHIA Bakery has served exactly low price with use organic goods to

make non allergies and cheaper product. This is very positive for both those people that are

needed as well as bakeries such as DHIA Bakery that specialize in these products.

The Products

DHIA Bakery offers a wide range of exciting products. The first group is spelt breads, muffins, and

pastries. Spelt is used as there are far fewer people that are allergic to this grain. Yeast allergies

are also common and DHIA Bakery offers a menu of yeast free breads. Dairy free muffins and

pastries are offered for vegans. Lastly, egg free breads, muffins, and pastries are offered in order

to make goods price lower than other companies virtually for far the most student group.

Customers

DHIA Bakery will focus on three distinct customer segments. The first group is the Allergy group.

This segment is growing at 15% a year with 15,000 potential customers. The second niche is the

Student group. This segment is also growing at 15% with 15000 potential people. The last group is

the Dieters group. This segment is typically making modifications to their diet based on their desireto lose weight. This niche also is growing at 15% with 2000 possible customers.

Management Team


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Highlights

$700,000

$600,000

$500,000

$400,000

$300,000

Sales

Gross Margin

Net Profit

$200,000

$100,000

$0

2010 2011 2012

1.1 Objectives

1. To establish a working storefront for DHIA bakery.

2. To develop the strong presence in the community needed to support sales goals.

3. To develop a full menu by the end of the second quarter.


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DHIA BAKERY

2.1 Company Ownership

Currently DHIA Bakery is a sole proprietorship owned by Mr. Dinie. Eventually, as thecompany becomes established, DHIA Bakery and Cake will apply to be incorporated.

2.2 Start-up Summary

The primary expense to establish the DHIA Bakery is the mortgage loan estimated at

$50,000 to purchase the vacant space on 1372 Lorong Haji Batu Buruk street. The buildingwas previously used as a bakery and we plan to buy the used equipment along with the space.This cost is also calculated into the loan estimate. Mr. Dinie intends to invest $8000 of hissavings to cover the other cost ofstart-up.

These costs include:

Advertising brochures. Bakery ingredients.

Insurance.(sosco) Bakery accessories, i.e. paper bags, cartons, etc.

Table: Start-up

Start-up

Requirements

Start-up ExpensesLegal $2,000Stationery etc. $500Brochures $100Consultants $2,500Insurance $950


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Table: Start-up Funding

Start-up FundingStart-up Expenses to Fund $17,000

Start-up Assets to Fund $58,000Total Funding Required $75,000

AssetsNon-cash Assets from Start-up $50,000Cash Requirements from Start-up $8,000Additional Cash Raised $0

Cash Balance on Starting Date $8,000

Total Assets $58,000

Liabilities and Capital

LiabilitiesCurrent Borrowing $0Long-term Liabilities $50,000Accounts Payable (Outstanding Bills) $0

Other Current Liabilities (interest-free) $9,000Total Liabilities $59,000

Capital

Planned InvestmentUntitled $0Mr. Dinie $16,000Other $0

Additional Investment Requirement $0Total Planned Investment $16,000

Loss at Start-up (Start-up Expenses) ($17,000)Total Capital ($1,000)

Total Capital and Liabilities $58,000

Total Funding $75 000


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3.0 Products

DHIA Bakery provides non-gluten baked goods and pastries to diet-conscious and wheat-allergic consumers. Special considerations are made for all common food allergies such as

dairy, yeast, wheat, and eggs.

Example ofgoods:

'Spelt' breads muffins and pastries

Spelt flour is the most common wheat-alternative flour as it has the same characteristics as wheat

which provides similar taste, consistency and behaviors creating goods that are just as good as anywheat baked good.

'Yeast-free' breads

Many people have an allergy to yeast, or have been warned by their doctors not to eat it. We

provide a line of yeast-free breads

'Dairy-free' muffins and pastries

Most breads do not require any dairy products, so they are not a consideration. Muffins andpastries most often require butter. To avoid this, we use a soy substitute.

'Egg-free 'breads muffins and pastries

Eggs are most common in muffins and pastries. Applesauce can be used as a substitute as it

provides the same amount of moisture that is required.

A lot of flavour based on new outside market

Every month, the new flavour will be produced based on feedback of customers and other countrydesired.


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DHIA BAKERY

4.1 Market Segmentation

Our target market consists of four groups:

The Allergy Group

According to Health Magazine, one out of five people suffer from a common food allergy,however many bakeries do not cater to their needs.

The Doctor Diet GroupFor health reasons, many people are warned off certain foods by their doctors because ofhigh

cholesterol and blood pressure. Currently the main killer in the Kelantan and Terengganu isheart disease according the Malaysian Heart Association. Many people nowadays aged 50+ are

going on special diets to prevent heart disease.

The Diet Craze Group

According to Magazine, the year 2006 saw 20 new diet fads that discouraged certain foods

such as wheat and dairy. The best selling book on the New Straits Time list for health was the" Blood Type Diet" which encourages readers to eat only non-gluten flours such as spelt, and to

avoid dairy. While this target market is quite large, it is ever fluctuating since most peoplehave temporary conscious diet.

Student around the townMost of students do not have enough time to manage their bundle work. So bread is one of

the alternative to save their time as they can do their work simultaneously. Thus a lot offlavour will be made over time on time to fulfill the student desired. Furthermore, most

university students want save their PTPTN money rather buy DHIA bread which serve morelow price than the other bread and food services.

Market Analysis (Pie)


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Table: Market Analysis

Market Analysis2010 2011 2012 2013 2014

Potential Customers Growth CAGRThe Allergy Group 15% 15,000 17,500 20,087 23,100 26,566 15.36%The Doctor Group 15% 2,000 2,300 2,645 3,041 3,498 15.00%Student 15% 15,000 17,500 20,087 23,101 26,566 15.36%The Dieters Group 15% 2,000 2,300 2,645 3,041 3,498 15.00%Total 15.32% 34,000 39,600 45,464 52,283 60,128 15.32%

4.2 Target Market Segment StrategyIn our target market, we will mainly focus on the "allergy group" and "student group" sincethey are the most prevalent and steady of customers. We expect that the "doctor diet group"and the '"diet craze" group will make up a smaller portion of our customers. We have not listed

"regular customers" as a target group since the customers who do not fit into any ofourgroups are too varied to segment. We are specifically filling the needs of the "allergygroup" and "student group" so we expect the most business from this group.

4.3 Industry Analysis

DHIA bakery competes in the Food Services Industry. In addition to competing with otherorganic and non-wheat bakeries, it competes with all restaurants, delis, bakeries andsupermarkets for a share of its customers food ringgits. DHIA bakery is most concerned with

competitors who differentiate their products and services with a healthy, organic focus. Becausethis group is so large, DHIA bakery has chosen to limit its analysis to other gluten-free bakeriesand flavour varieties.

4.3.1 Competition and Buying Patterns


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5.0 Strategy and Implementation Summary

Our strategy focuses on serving a niche market with quality goods. We are determined tobecome a part of the community - an establishment that becomes as much of the communityas a local grocery store. To achieve these goals, we will provide the following:

Friendly, neighborhood-feel atmosphere. Quality baked goods for everyone to enjoy at a fair price. Special diet menus in relation to the advice of local healthcare providers.

5.1 Competitive Edge

Our competitive edge is our quality of goods. We use only organic flours of the highest qualitythat create incredible non-gluten goods that can't be matched anywhere else in town. We alsofocus mainly on non-gluten goods. The other bakeries in town focus on wheat goods andsometimes, as an afterthought, use alternative flours.

5.2 Sales Strategy

Our strategy focuses on building a customer base by providing good customer experience.

With the addition of the cendol, ais kacang, juice blended and coffee bar in early spring, wehope to have customers make the bakery their one-stop destination for breakfast and tea

break.

We would also like to work closely with local doctors and elder care homes to bring in

customers with health problems. We are already in negotiations with HSNZ administration toinsure referrals to the bakery for his patients. Furthermore, we also negotiated with

academic instit tion like UMT UDM and school a o nd K ala Te enggan to n


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Sales Monthly

$60,000

$50,000

$40,000

$30,000

$20,000

$10,000

Breads

Coffee/Beverages

burgerbread

hot dog bread

cake

'mamak' bread

Pastries/Sweets

$0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Sales by Year

$700,000

$600,000

$500,000Breads

Coffee/Beverages


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Table: Sales Forecast

Sales Forecast2010 2011 2012

SalesBreads $116,973 $125,500 $130,000Coffee/Beverages $5,619 $6,000 $6,500burger bread $136,179 $142,000 $145,000hot dog bread $129,176 $130,500 $135,000cake $12,395 $12,500 $13,000'mamak' bread $108,255 $109,000 $110,000

Pastries/Sweets $71,144 $72,500 $73,000Total Sales $579,741 $598,000 $612,500

Direct Cost of Sales 2010 2011 2012Breads $83,889 $83,800 $84,000Coffee/Beverages $2,922 $2,900 $3,200mamak bread $72,192 $72,200 $73,000hot dog bread $69,676 $69,900 $71,000burger bread $72,756 $72,800 $73,000cake $7,565 $7,600 $8,500Pastries/Sweets $49,680 $50,000 $52,000Subtotal Direct Cost ofSales $358,680 $359,200 $364,700


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5.3 Milestones

The table below displays the milestones that DHIA Bakery would like to accomplish in the firstthree years. Emphasis in the first year will be on advertising to make the DHIA Bakery an

established business in town.

Table: Milestones

Milestones

Milestone Start Date End Date Budget Manager DepartmentFirst AdvertisingCampaign 12/1/2001 3/1/2002 $5,000 Ms. Anis MarketingFull-Service Coffee BarIntegration 2/1/2002 2/28/2002 $5,000 Mr. Dinie

Bakery

Establishing a LunchMenu 3/1/2002 3/30/2002 $1,000 Mr. Dinie

Bakery

Outdoor Cafe Seating 5/1/2002 9/30/2002 $10,000 Mr. Dinie BakeryTotals $21,000

Milestones

First Advertising Campaign

Full-Service Coffee Bar Integration

Establishing a Lunch Menu


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6.0 Management Summary

Mr. Dinie is the founder of DHIA Bakery. He brings to the bakery his experience as a bakerand as an entrepreneur. He has worked as a baker for over 10 years including two years as

an apprentice in a well-known Paris patisserie. As a teenager he helped his parents at thefamily's general store, both in sales and marketing. For his last two years at his family'sstore, he was the general employee manager. His duties at the bakery will include employeehiring and training, head baker and store management.

Ms. Anis has run her own successful CPA consulting firm for 15 years. His duties will include thebookkeeping, inventory management and stock fulfillment.

Ms. Ikin runs her own PR company and will be assisting the DHIA Bakery in its marketingcampaigns on a part-time basis.

Mr. Hairi has worked as a baker for over five years and will be the assistant baker. Herresponsibilities will also include the management of the bakery shopping list.

6.1 Personnel Plan

Once the bakery becomes established and the cash flow is steady, we would like to hire oneperson for counter help and another assistant baker.

The table below illustrates the needs of the current employees, plus the integration oftwomore employees within three months of operation. The new hirings will coincide with theopening of a cendol,ais batu campur, juice blended menu and coffee bar which will most

certainly require more help.

Table: Personnel


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7.0 Financial Plan

The following sections will outline important financial assumptions.

7.1 Important Assumptions

The current economic climate in the Malaysia appears to be on the brink ofrecession.However, we do not believe that if the country does enter a recession that our business will be

unduly affected. Since our products are ones that help contribute to and maintain good health,we believe that people will continue to buy our products over traditional wheat bread. We areoperating in a niche market, and in addition, the price of our breads and sweets althoughslightly higher than traditional bakeries they are not positioned as expensive, luxury items.

Table: General Assumptions

General Assumptions 2010 2011 2012

Plan Month 1 2 3Current Interest Rate 9.00% 9.00% 9.00%Long-term Interest Rate 8.50% 8.50% 8.50%Tax Rate 25.42% 25.00% 25.42%Other 0 0 0


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7.2 Break-even Analysis

Our Break-Even Analysis includes running costs of production. These are fairly low since wemanufacture all of our goods at a low cost to us. Here are the items included in the average

percent variable cost:

Manufacturing ingredients, i.e. flour, sugar, yeast and butter. Payroll.

Mortgage. Utilities.

Advertising.

The Break-Even Analysis as it appears below indicates that the break-even point will beattainable each month.

Break-even Analysis

$15,000$10,000

$5,000

$0

($5,000)

($10,000)

($15,000)

($20,000)

$0 $14,000 $28,000 $42,000 $56,000 $70,000

Monthly break-even point


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7.3 Projected Profit and Loss

The following table shows the projected profit and loss for DHIA Bakery.

Table: Profit and Loss

Pro Forma Profit and Loss2010 2011 2012

Sales $579,741 $598,000 $612,500Direct Costs of Goods $358,680 $359,200 $364,700Other $0 $0 $0

------------ ------------ ------------Cost of Goods Sold $358,680 $359,200 $364,700

Gross Margin $221,061 $238,800 $247,800Gross Margin % 38.13% 39.93% 40.46%

ExpensesPayroll $84,600 $101,700 $110,120Sales and Marketing and OtherExpenses $23,902 $24,000 $24,000

Depreciation $2,400 $2,000 $1,800Utilities $24,000 $24,000 $24,000Insurance $12,000 $24,000 $24,000Mortgage $48,000 $36,000 $36,000Payroll Taxes $1,800 $1,800 $1,800Other $0 $0 $0

------------ ------------ ------------Total Operating Expenses $196,702 $213,500 $221,720

Profit Before Interest and Taxes $24,360 $25,300 $26,080EBITDA $26,760 $27,300 $27,880

Interest Expense $4,140 $4,031 $4,001Taxes Incurred $5,123 $5,317 $5,612

Net Profit $15,097 $15,952 $16,467Net Profit/Sales 2.60% 2.67% 2.69%


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Gross Margin Yearly

$250,000

$200,000

$150,000

$100,000

$50,000

$0

2010 2011 2012

Profit Monthly

$1,800

$1,600

$1,400

$1,200


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Profit Yearly

$18,000

$16,000

$14,000

$12,000

$10,000

$8,000

$6,000

$4,000

$2,000

$0

2010 2011 2012


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7.4 Projected Cash Flow

The following chart illustrates a healthy cash balance for the first three years, enabling thecompany to grow through reinvestment.

Cash

$350,000

$300,000

$250,000

$200,000

$150,000

Net Cash Flow

Cash Balance

$100,000

$50,000

$0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec


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Table: Cash Flow

Pro Forma Cash Flow 2010 2011 2012Cash Received

Cash from OperationsCash Sales $579,741 $598,000 $612,500Subtotal Cash from Operations $579,741 $598,000 $612,500

Additional Cash Received

Received$0 $0 $0

New Current Borrowing $0 $0 $0New Other Liabilities (interest-free) $0 $0 $0New Long-term Liabilities $0 $0 $0Sales of Other Current Assets $0 $0 $0Sales of Long-term Assets $0 $0 $0

New Investment Received $0 $0 $0Subtotal Cash Received $579,741 $598,000 $612,500

Expenditures 2010 2011 2012

Expenditures from OperationsCash Spending $84,600 $101,700 $110,120

Bill Payments $175,960 $172,246 $170,219Subtotal Spent on Operations $260,560 $273,946 $280,339

Additional Cash SpentSales Tax, VAT, HST/GST Paid Out $0 $0 $0Principal Repayment ofCurrentBorrowing

$0 $0 $0

Other Liabilities PrincipalRepayment

$6,000 $0 $0

Long-term Liabilities PrincipalRepayment

$2,400 $354 $354

Purchase Other Current Assets $0 $0 $0Purchase Long-term Assets $0 $5,000 $8,000 Dividends $0 $3,000 $4,000Subtotal Cash Spent $268,960 $282,300 $292,693


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7.5 Projected Balance Sheet

The following table represents the financial position of the DHIA Bakery at the end ofeachof the three upcoming fiscal years.

Table: Balance Sheet

Pro Forma Balance Sheet2010 2011 2012

Assets

Current AssetsCash $318,781 $634,481 $954,288

Other Current Assets $0 $0 $0Total Current Assets $318,781 $634,481 $954,288

Long-term AssetsLong-term Assets $50,000 $55,000 $63,000Accumulated Depreciation $2,400 $4,400 $6,200Total Long-term Assets $47,600 $50,600 $56,800Total Assets $366,381 $685,081 $1,011,088

Liabilities and Capital 2010 2011 2012

Current LiabilitiesAccounts Payable $301,684 $607,786 $921,680Current Borrowing $0 $0 $0

Other Current Liabilities $3,000 $3,000 $3,000Subtotal Current Liabilities $304,684 $610,786 $924,680

Long-term Liabilities $47,600 $47,246 $46,892Total Liabilities $352,284 $658,032 $971,572

Paid-in Capital $16,000 $16,000 $16,000Retained Earnings ($17,000) ($4,903) $7,049

Earnings $15,097 $15,952 $16,467Total Capital $14,097 $27,049 $39,516Total Liabilities and Capital $366,381 $685,081 $1,011,088


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7.6 Business Ratios

Business ratios for the years of this plan are shown below. Industry profile ratios based on the

Standard Industrial Classification (SIC) code 5461, Retail Bakeries, are shown for comparison.

Table: Ratios

Ratio Analysis 2010 2011 2012 Industry ProfileSales Growth 0.00% 3.15% 2.42% 2.58%

Percent of Total AssetsOtherCurrent Assets 0.00% 0.00% 0.00% 29.82%Total Current Assets 87.01% 92.61% 94.38% 55.20%

Long-term Assets 12.99% 7.39% 5.62% 44.80%Total Assets 100.00% 100.00% 100.00% 100.00%

Current Liabilities 83.16% 89.16% 91.45% 25.40%Long-term Liabilities 12.99% 6.90% 4.64% 23.07%

Total Liabilities 96.15% 96.05% 96.09% 48.47%Net Worth 3.85% 3.95% 3.91% 51.53%

Percent of SalesSales 100.00% 100.00% 100.00% 100.00%Gross Margin 38.13% 39.93% 40.46% 36.64%Selling, General & AdministrativeExpenses 64.14% 57.51% 52.56% 23.68%Advertising Expenses 4.13% 3.70% 3.50% 1.65%Profit Before Interest and Taxes 4.20% 4.23% 4.26% 1.92%

Main RatiosCurrent 1.05 1.04 1.03 1.70Quick 1.05 1.04 1.03 0.96Total Debt to Total Assets 96.15% 96.05% 96.09% 5.56%Pre-tax Return on Net Worth 143.43% 78.63% 55.87% 56.30%Pre-tax Return on Assets 5.52% 3.10% 2.18% 12.72%

Additional Ratios 2010 2011 2012


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Appendix

Appendix Table: Sales Forecast

Sales Forecast

SalesJan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Breads 0% $9,720 $9,780 $9,780 $9,780 $9,800 $10,000 $9,770 $9,600 $9,600 $9,563 $9,680 $9,900Coffee/Beverages 0% $0 $379 $462 $500 $518 $518 $519 $520 $547 $550 $556 $550

burger bread 0% $11,900 $11,900 $11,990 $11,990 $11,900 $11,900 $11,990 $11,700 $11,700 $9,100 $10,109 $10,000hot dog bread 0% $10,900 $10,900 $10,910 $10,850 $10,900 $10,800 $10,781 $11,082 $10,983 $9,770 $10,500 $10,800cake 0% $900 $903 $950 $1,068 $1,100 $1,312 $1,010 $1,000 $1,090 $990 $998 $1,074'mamak' bread 0% $8,900 $8,900 $8,990 $8,905 $9,000 $9,000 $8,990 $8,880 $9,200 $9,300 $9,290 $8,900Pastries/Sweets 0% $5,744 $6,260 $6,376 $6,019 $5,924 $6,586 $6,058 $6,076 $5,474 $5,400 $5,667 $5,560Total Sales $48,064 $49,022 $49,458 $49,112 $49,142 $50,116 $49,118 $48,858 $48,594 $44,673 $46,800 $46,784

Direct Cost of Sales Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecBreads $7,000 $7,100 $7,100 $7,116 $7,200 $7,402 $7,200 $7,110 $7,000 $6,661 $6,500 $6,500Coffee/Beverages $0 $190 $251 $250 $255 $256 $283 $285 $280 $288 $289 $295mamak bread $6,000 $6,100 $6,100 $6,200 $6,220 $6,200 $6,226 $6,300 $6,220 $5,426 $5,400 $5,800hot dog bread $6,000 $6,000 $6,000 $5,900 $5,906 $5,900 $5,860 $5,870 $5,800 $4,850 $5,890 $5,700burger bread $6,000 $6,089 $6,089 $6,100 $6,100 $6,100 $6,200 $6,200 $6,289 $5,190 $6,199 $6,200cake $539 $600 $590 $690 $690 $700 $780 $683 $693 $550 $500 $550

Pastries/Sweets $4,500 $4,500 $4,600 $4,400 $4,300 $4,500 $4,210 $4,230 $4,240 $3,200 $3,500 $3,500Subtotal Direct Cost of Sales $30,039 $30,579 $30,730 $30,656 $30,671 $31,058 $30,759 $30,678 $30,522 $26,165 $28,278 $28,545


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Appendix

Appendix Table: Personnel

Personnel PlanJan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Mr. Dinie - Head Baker 0% $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800Ms. Anis 0% $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500Ms. Ikin - Part-time 0% $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500

Counter Help - Full Time 0% $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200Assistant Baker - Part time 0% $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750Mr. Hairi - Bookkeeper 0% $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300 $1,300

Total People 6 6 6 6 6 6 6 6 6 6 6 6

Total Payroll $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050


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Appendix

Appendix Table: General Assumptions

General AssumptionsJan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Plan Month 1 2 3 4 5 6 7 8 9 10 11 12Current Interest Rate 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00%Long-term Interest Rate 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50% 8.50%

Tax Rate 30.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%Other 0 0 0 0 0 0 0 0 0 0 0 0


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$1,918 $2,064 $2,112 $1,992 $1,992 $1,992 $1,968 $1,968 $1,992 $1,992 $1,992 $1,920

$200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200

$2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000$1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000

$4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,00015% $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------$16,318 $16,464 $16,512 $16,392 $16,392 $16,392 $16,368 $16,368 $16,392 $16,392 $16,392 $16,320

$1,708 $1,979 $2,216 $2,064 $2,079 $2,666 $1,991 $1,812 $1,680 $2,116 $2,130 $1,919$1,908 $2,179 $2,416 $2,264 $2,279 $2,866 $2,191 $2,012 $1,880 $2,316 $2,330 $2,119

$353 $351 $350 $349 $347 $346 $344 $343 $341 $340 $339 $337$406 $407 $467 $429 $433 $580 $412 $367 $335 $444 $448 $395

$948 $1,221 $1,400 $1,287 $1,299 $1,740 $1,235 $1,102 $1,004 $1,332 $1,344 $1,1861.97% 2.49% 2.83% 2.62% 2.64% 3.47% 2.51% 2.26% 2.07% 2.98% 2.87% 2.54%

Appendix

Appendix Table: Profit and Loss

Pro Forma Profit and LossJan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Sales $48,064 $49,022 $49,458 $49,112 $49,142 $50,116 $49,118 $48,858 $48,594 $44,673 $46,800 $46,784

Direct Costs ofGoods $30,039 $30,579 $30,730 $30,656 $30,671 $31,058 $30,759 $30,678 $30,522 $26,165 $28,278 $28,545Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------ ------------Cost of Goods Sold $30,039 $30,579 $30,730 $30,656 $30,671 $31,058 $30,759 $30,678 $30,522 $26,165 $28,278 $28,545

Gross Margin $18,025 $18,443 $18,728 $18,456 $18,471 $19,058 $18,359 $18,180 $18,072 $18,508 $18,522 $18,239Gross Margin % 37.50% 37.62% 37.87% 37.58% 37.59% 38.03% 37.38% 37.21% 37.19% 41.43% 39.58% 38.99%

ExpensesPayroll $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050Sales and Marketing and OtherExpensesDepreciationUtilitiesInsuranceMortgagePayroll TaxesOther

Total Operating Expenses

Profit Before Interest and TaxesEBITDA

Interest ExpenseTaxes Incurred

Net ProfitNet Profit/Sales


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Appendix

Appendix Table: Cash Flow

Pro Forma Cash FlowJan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Cash Received

Cash from Operations

Cash Sales $48,064 $49,022 $49,458 $49,112 $49,142 $50,116 $49,118 $48,858 $48,594 $44,673 $46,800 $46,784Subtotal Cash from Operations $48,064 $49,022 $49,458 $49,112 $49,142 $50,116 $49,118 $48,858 $48,594 $44,673 $46,800 $46,784

Additional Cash Received

Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Cash Received $48,064 $49,022 $49,458 $49,112 $49,142 $50,116 $49,118 $48,858 $48,594 $44,673 $46,800 $46,784

Expenditures Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Expendit ures from Operations

Cash Spending $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050 $7,050

Bill Payments $12,800 $14,481 $14,800 $15,000 $15,000 $15,000 $14,755 $15,095 $14,650 $14,900 $14,690 $14,789Subtotal Spent on Operations $19,850 $21,531 $21,850 $22,050 $22,050 $22,050 $21,805 $22,145 $21,700 $21,950 $21,740 $21,839

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Principal Repayment ofCurrent

Borrowing$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Liabilities Principal Repayment $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500Long-term Liabilities Principal

Repayment$200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200

Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Cash Spent $20,550 $22,231 $22,550 $22,750 $22,750 $22,750 $22,505 $22,845 $22,400 $22,650 $22,440 $22,539

Net Cash Flow $27,514 $26,791 $26,908 $26,362 $26,392 $27,366 $26,613 $26,013 $26,194 $22,023 $24,360 $24,245

Cash Balance $35,514 $62,305 $89,213 $115,575 $141,967 $169,333 $195,946 $221,959 $248,153 $270,176 $294,536 $318,781


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Appendix

Appendix Table: Balance Sheet

Pro Forma Balance Sheet

Assets Starting BalancesJan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Current Assets

Cash $8,000 $35,514 $62,305 $89,213 $115,575 $141,967 $169,333 $195,946 $221,959 $248,153 $270,176 $294,536 $318,781 Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Current Assets $8,000 $35,514 $62,305 $89,213 $115,575 $141,967 $169,333 $195,946 $221,959 $248,153 $270,176 $294,536 $318,781

Long-term AssetsLong-term Assets $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000Accumulated Depreciation $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 $2,200 $2,400Total Long-term Assets $50,000 $49,800 $49,600 $49,400 $49,200 $49,000 $48,800 $48,600 $48,400 $48,200 $48,000 $47,800 $47,600Total Assets $58,000 $85,314 $111,905 $138,613 $164,775 $190,967 $218,133 $244,546 $270,359 $296,353 $318,176 $342,336 $366,381

Liabilities and Capital Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Current LiabilitiesAccounts Payable $0 $27,066 $53,136 $79,144 $104,720 $130,313 $156,439 $182,316 $207,728 $233,418 $254,609 $278,125 $301,684Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Current Liabilities $9,000 $8,500 $8,000 $7,500 $7,000 $6,500 $6,000 $5,500 $5,000 $4,500 $4,000 $3,500 $3,000Subtotal Current Liabilities $9,000 $35,566 $61,136 $86,644 $111,720 $136,813 $162,439 $187,816 $212,728 $237,918 $258,609 $281,625 $304,684

Long-term Liabilities $50,000 $49,800 $49,600 $49,400 $49,200 $49,000 $48,800 $48,600 $48,400 $48,200 $48,000 $47,800 $47,600Total Liabilities $59,000 $85,366 $110,736 $136,044 $160,920 $185,813 $211,239 $236,416 $261,128 $286,118 $306,609 $329,425 $352,284

Paid-in Capital $16,000 $16,000 $16,000 $16,000 $16,000 $16,000 $16,000 $16,000 $16,000 $16,000 $16,000 $16,000 $16,000Retained Earnings ($17,000) ($17,000) ($17,000) ($17,000) ($17,000) ($17,000) ($17,000) ($17,000) ($17,000) ($17,000) ($17,000) ($17,000) ($17,000)

Earnings $0 $948 $2,169 $3,569 $4,855 $6,154 $7,894 $9,130 $10,231 $11,235 $12,567 $13,911 $15,097Total Capital ($1,000) ($52) $1,169 $2,569 $3,855 $5,154 $6,894 $8,130 $9,231 $10,235 $11,567 $12,911 $14,097Total Liabilities and Capital $58,000 $85,314 $111,905 $138,613 $164,775 $190,967 $218,133 $244,546 $270,359 $296,353 $318,176 $342,336 $366,381

Net Worth ($1,000) ($52) $1,169 $2,569 $3,855 $5,154 $6,894 $8,130 $9,231 $10,235 $11,567 $12,911 $14,097

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