Expanding Your Business
Expanding Your Business Weston’s Place will be a family oriented restaurant located at 212 Main Street Wendell, North Carolina. A financial plan is “a vital tool to help an entrepreneur manage their business more effectively, steering their way around the pitfalls that causes failures”, (Scarborough & Zimmerer, 2012, page 194). The financial plan section is the section in the business plan that determines whether or not the business idea is feasible. The financial plan consists of three financial statements, the income statement, the cash flow projection, and the balance sheet, with a brief explanation of the statements. Income statement is “a financial document that shows how much money (revenue) came in and how much money (expense) was paid out”, (Pinson & Jinnett, 2006). Pinson & Jinnet (2006) stated, “cash flow statement is the actual movement of cash within a business; the analysis of how much cash is needed and when that money is required by a business within a period of time”. According to Pinson and Jinnett, “a balance sheet is an itemized statement that lists the total assets and liabilities of a given business to portray its net worth at a given moment in time”.
Pro-Forma Income Statement
Weston’s Place
1. REVENUE
2. Gross Sales
3. Net Sales
4. Cost of Sales
5. Operating Expenses
6. General/Administrative
7. Total Operating Expense
8. Net Income before taxes
9. Net Income after taxes
10. Net Income (loss)
Cash Flow Projections
Weston’s Place
1. Cash Revenues
2. Cash Disbursements
3. Reconciliation of cash flow
4. Opening cash balance
5. Closing Cash Balance
Projected Balance Sheet
Weston’s Place
1. Assets
2. Current Assets
3. Total Assets
4. Fixed Assets
5. Total fixed Assets(net of depreciation)
6. Other Assets
7. Total other Assets
8. Total Assets
Weston’s Place will be a sole proprietorship business. The restaurant will be a family friendly restaurant catering to families that want to enjoy a nutritional
Pro-Forma Income Statement
Weston’s Place
1. REVENUE
2. Gross Sales
3. Net Sales
4. Cost of Sales
5. Operating Expenses
6. General/Administrative
7. Total Operating Expense
8. Net Income before taxes
9. Net Income after taxes
10. Net Income (loss)
Cash Flow Projections
Weston’s Place
1. Cash Revenues
2. Cash Disbursements
3. Reconciliation of cash flow
4. Opening cash balance
5. Closing Cash Balance
Projected Balance Sheet
Weston’s Place
1. Assets
2. Current Assets
3. Total Assets
4. Fixed Assets
5. Total fixed Assets(net of depreciation)
6. Other Assets
7. Total other Assets
8. Total Assets
Weston’s Place will be a sole proprietorship business. The restaurant will be a family friendly restaurant catering to families that want to enjoy a nutritional
References: Steps to Small Business Start-Up (6th ed.). Chicago, IL: Linda Pinson & Jerry Jinnett Effective Small Business Management: An Entrepreneurial Approach (10th ed.). Upper Saddle River, NJ: Prentice Hall/Pearson. Scarborough, N. M., & Zimmerer, T. W. (2012). U.S. Small Business Administration. www.sba.gov.