Need help with this assignment. My business of choice is an automotive repair shop named Fast Lane Auto Repair ( FLAR). The assignment details are below if you have any questions please let me know.
Small Business Financial Plan
Students will be expected to put together a financial plan based on either a real small business, or a fictitious one (data may be supplied by instructor).
While each plan is unique depending on the business sector, location, stage of development, etc., all banker and/or investor presentable Business Plans, as well as plans for internal use, should include the following:
- Executive Summary (1-2 pages – this always gets read)
- EXECUTIVE SUMMARY CONTENT-
- Name and description of the business (products or services offered), including type of business (i.e., partnership, corporation)
- Goals and objectives, including a brief discussion of why you believe the business will be successful
- Market environment considerations, including current needs for the product and discussion of current or potential competition
- Brief description of owners and principal managers, including what they offer to help the business succeed (you may include a resume for each in an appendix if desired)
- Marketing plan and strategy
- Initial estimates of sales and expenses (fixed and variable) for AT LEAST the first 3 years of business (may be in graph or table form in the paper but MUST be included in detail in your appendix.) Watch for a template in Discussion Board.
- Listing of keys to success (2-4 items)
- Funding request (if relevant), including how funds will be used, potential collateral available, and how the funding may be repaid if it comes in a form of a loan
- Other information that you feel is important.
For the purpose of this curriculum, we will concentrate on the Financial and Funding Request portions of the Business Plan, as well as the Executive Summary.
Small Business Financial Plan
Students will be expected to put together a financial plan based on either a real small business, or a fictitious one (data may be supplied by instructor). While each plan is unique depending on the business sector, location, stage of development, etc., all banker and/or investor presentable Business Plans, as well as plans for internal use, should include the following:
- Executive summary (2-3 pages).
- Balance Sheet (historic and pro forma projections – 3 years of projections)
- Income Statement (historic and pro forma projections – 3 years of projections)
- Cash flow projections (sources and uses of cash) – historic and pro forma projections – 3 years of projections. Be sure to include any funding or loans as well as repayment of loans in this statement.
- Ratio Analysis (basic ratios like net profit and asset turnover rates for all projected years). The DuPont ratios for a 3-year period are highly recommended–be sure to discuss briefly
- Plan should note whether cash or accrual basis accounting will be used. If you use cash basis, your firm will not have receivables or payables.
- Plan should discuss all sources and amounts of funds to be raised, including a schedule of activity, achievement dates, etc.
Note that you will be making a LOT of assumptions in the pro forma (i.e., projected future) statements so be sure to clearly state your assumptions either as footnotes or in a separate document. The numbers can’t be made up without supporting assumptions. Examples of assumptions:
- Growth rates for future revenues,
- Expenses as a % of revenues (with some supporting documentation),
- Revenue patterns,
- Expense patterns, or
- Lines of credit/loans (borrowing and repayment) to maintain cash balances.
- Investments in the firm by you or by others.
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