The Financial plan
1. I will start by getting a loan of
$9,880 from Ulnooweg youth business loans.
|
Furniture
|
$3000
|
|
Rent (First month)
|
$1000
|
|
Equipment
|
$5000
|
|
Business name registration &
License
|
$130
|
|
Advertising
|
$750
|
|
TOTAL
|
$9,880
|
2. Financing
|
Loan Amount (minus 10%)
|
$8,880
|
|
Interest Rate
|
8.5%
|
|
Amortization
|
3 Years
|
|
Payment frequency
|
Monthly
|
|
Payment
per month
|
$280.32
|
3. Income
Statement
|
Income for 1st month
|
$20,000
|
|
Loan repayment
|
-$280.32
|
|
Down payment
|
-$1000
|
|
Power bill
|
-$1000
|
|
4 employees (40 hours/wk for month)
|
-$6624
|
|
Executive Chef (40 hrs/wk for month)
|
-$4166
|
|
Total
profit/loss
|
+$6929.68
|
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