Last revised 2/2020. See revision notes on last tab.

Step 1 - Enter info about your company in yellow shaded boxes below.

Preparer Name Company Name Starting Month Starting Year

Adeyemi Ayooluwa Adesina Vesil Delivery Services December 2023

Step 2 - Read the following instructions

This Microsoft Excel Workbook is designed to provide those starting a business

Color-Coding:
or already running a business with information that will allow them to make a
"go /no-go" decision. It will help a potential entrepreneur project operating Enter Data Here
profit, develop a projected income statement, balance sheet and cash flow
forecast.

It is designed for a wide variety of users, from those who have little or no Adjust as Needed
accounting or Excel experience to those who may be well versed in finance,
accounting and the use of Microsoft Excel.

The workbook contains a number of worksheets, each documented two ways.

Extensive directions and guidance for a particular page or on a specific The cells with formulas in this
accounting topic are found in blue boxes (like this one) on pages that are not
self-explanatory. workbook are locked.
The second way this workbook is documented is using Excel comments in a
given cell. Comments are normally hidden from sight. If you see a red triangle in
If changes are needed, the
the upper right corner of a cell, you can hover your mouse over the triangle to unlock code is "1234."
see the note. As your mouse moves away from the triangle, the comment will
disappear.
Please use caution when
Comments will have a beige background. Each comment may have a specific unlocking the spreadsheets. If
direction for that cell, may be a reminder of something the author believes
important, or may have some additional information about the accounting topic. you want to change a formula,
The cells and formulas in this workbook are protected. Cells with yellow or we strongly recommend that
light blue backgrounds are designed for user input. All other cells are designed to
generate data based on user input. you save a copy of this
spreadsheet under a different
The cells with formulas in this workbook are locked. If changes are needed, the
unlock code is "1234." Please use caution when unlocking the spreadsheets. If name before doing so.
you want to change a formula, we strongly recommend
12 that you save a copy of
this spreadsheet under a different name before doing so.

December January February March April May June

 Start-Up Expenses Year 1
(Starting Balance Sheet)

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

Fixed Assets Amount Depreciation (years) Notes

Years of depreciation must be 3 or
more for the calculations in this
Real Estate-Land Not Depreciated workbook to work correctly.
Real Estate-Buildings 20
Leasehold Improvements 7
Equipment 20,000 5
Furniture and Fixtures 12,000 10
Vehicles 8,000,000 10
Other 20,000 5
Total Fixed Assets $ 8,052,000

Operating Capital Amount Notes

Pre-Opening Salaries and Wages 188,047 Salary of employees (drivers, marketers) for 6 months
Prepaid Insurance Premiums 22,000
Inventory A shipping company carries no inventory
Legal and Accounting Fees 10,000
Rent Deposits 150,000 Rent for the facility for a whole year
Utility Deposits 15,000 Electricity for sorting equipments
Supplies 5,000
Advertising and Promotions 30,000
Licenses 7,000
Other Initial Start-Up Costs 20,000
Working Capital (Cash On Hand)
Total Operating Capital $ 447,047
Total Required Funds $ 8,499,047

Sources of Funding Percentage Totals Loan Rate Term in Months Monthly Payments Notes
Owner's Equity 58.83% 5,000,000
Outside Investors 11.77% 1,000,000
Additional Loans or Debt
Commercial Loan 7.65% 650,000 10.00% 84 10,791
Commercial Mortgage 0.00% 10.00% 240 -
Credit Card Debt 2.35% 200,000 5.00% 60 3,774
Vehicle Loans 17.94% 1,525,000 2.50% 60 27,065
Other Bank Debt 1.46% 124,047 2.00% 36 3,553
Total Sources of Funding 100.00% $ 8,499,047 Cell D 42 must equal cell C31 $ 45,183
Total Funding Needed $ - You are fully funded (Balanced)

Existing Businesses ONLY -- Calculating Cash on Hand Note: For existing businesses, this should
Cash - be the "bucket" of cash plus receivables
that will be turned into cash, minus
+ Accounts Receivable -
payables that will be paid out in cash in
+ Prepaid Expenses - the near term (i.e. in the first months of the
- Accounts Payable - plan)
- Accrued Expenses -
Total Cash on Hand $ -

704812293.xlsx 1-StartingPoint 11/14/2023 17:33:04

 Payroll Year 1

Prepared By: Company Name:

Adeyemi Ayooluwa AdesVesil Delivery Services

Average Hourly Estimated

Number of Owners Pay (to 2 decimal Hrs./Week (per Estimated Pay/Month
Employee Types /Employees places, ex. $15.23) person) (Total) December January February March April May June July August September October November Annual Totals
Owner(s) 1 40.00 8 $ 1,387 1,387 1,387 1,387 1,387 1,387 1,387 1,387 1,387 1,387 1,387 1,387 1,387 $ 16,640
Full-Time Employees 4 25.00 8 $ 3,467 3,467 3,467 3,467 3,467 3,467 3,467 3,467 3,467 3,467 3,467 3,467 3,467 $ 41,600
Part-Time Employees 8 20.00 11 $ 7,627 7,627 7,627 7,627 7,627 7,627 7,627 7,627 7,627 7,627 7,627 7,627 7,627 $ 91,520
Independent Contractors 2 15.00 5 $ 650 650 650 650 650 650 650 650 650 650 650 650 650 $ 7,800
Total Salaries and Wages 15 $ 100.00 32 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 13,130 $ 157,560

Estimated Taxes &

Percentage of Benefits/Month
Payroll Taxes and Benefits Wage Base Limit Salary/Wage (Total) December January February March April May June July August September October November Annual Totals
Social Security $ 137,700 6.20% $ 774 774 774 774 774 774 774 774 774 774 774 774 774 $ 9,285
Medicare -- 1.45% $ 181 181 181 181 181 181 181 181 181 181 181 181 181 $ 2,172
PWC. (2023). Nigeria -
Personal Income Tax $ Individual - Taxes
7,000 on 7.00% $ 613 613 613 613 613 613 613 613 613 613 613 613 613 $ 7,350
State Unemployment Tax (SUTA) personal income. $ - - - - - - - - - - - - - $ -
Taxsummaries.pwc.com
Employee Pension Programs $ . 200 1.05% $ 131 131 131 131 131 131 131 131 131 131 131 131 131 $ 1,572
Worker's Compensation $ https://taxsummaries.p
1,000 3.75% $ 468 468 468 468 468 468 468 468 468 468 468 468 468 $ 5,616
wc.com/nigeria/individ
Employee Health Insurance $ 3,000 3.00% $ 374 374 374 374 374 374 374 374 374 374 374 374 374 $ 4,493
ual/taxes-on-personal-
Other Employee Benefit Programs income -- 0.00% $ - - - - - - - - - - - - - $ -
Total Payroll Taxes and Benefits 22.45% $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 2,541 $ 30,488

Total Salaries and Related Expenses $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 188,048

704812293.xlsx 2a-PayrollYear1 11/14/2023 17:33:04

 Payroll Years 1-3

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

Employee Types Year 1 Totals Growth Rate 1 to 2 Second Year Growth Rate 2 to 3 Third Year
Owner(s) 16,640 20.0% 19,968 30.0% 25,958
Full-Time Employees 41,600 15.0% 47,840 25.0% 59,800
Part-Time Employees 91,520 10.0% 100,672 15.0% 115,773
Independent Contractors 7,800 3.0% 8,034 3.0% 8,275
Total Salaries and Wages $ 157,560 $ 176,514 $ 209,806

Payroll Taxes and Benefits

Social Security 9,285 20.0% 11,142 30.0% 14,485
Medicare 2,172 20.0% 2,606 30.0% 3,388
Personal Income Tax 7,350 20.0% 8,820 30.0% 11,466
State Unemployment Tax (SUTA) - 20.0% - 30.0% -
Employee Pension Programs 1,572 0.0% 1,572 0.0% 1,572
Worker's Compensation 5,616 3.0% 5,784 3.0% 5,958
Employee Health Insurance 4,493 3.0% 4,628 3.0% 4,766
Other Employee Benefit Programs - 10.0% - 10.0% -
Total Payroll Taxes and Benefits $ 30,488 $ 34,553 $ 41,635

Total Salaries and Related Expenses $ 188,048 $ 211,067 $ 251,441

704812293.xlsx 2b-PayrollYrs1-3 11/14/2023 17:33:04

 Sales Forecst Year 1

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services TIP: Click here to access a calculator that can
help you determine your COGS per unit.

Complete This Chart First:

Product Lines Units COGS Per Unit

Sales Price Per
Unit Margin Per Unit
Express delivery 500 $ 4,000.00 $ 3,000.00 $ 1,000.00
Standard Delivery 4000 $ 2,500.00 $ 1,550.00 $ 950.00
Ecommerce fulfillment 500 $ 4,000.00 $ 3,700.00 $ 300.00
Same Day Delivery 3200 $ 5,000.00 $ 4,500.00 $ 500.00
$ -
$ -

Category
Product Lines December January February March April May June July August September October November Annual Totals Breakdown Category / Total
Express delivery
500 Sold 120 50 40 20 20 20 45 55 60 50 20 500 6.1%
Total Sales 480,000 200,000 160,000 80,000 80,000 80,000 180,000 220,000 240,000 200,000 80,000 - $ 2,000,000 100.0% 6.7%
Total COGS 360,000 150,000 120,000 60,000 60,000 60,000 135,000 165,000 180,000 150,000 60,000 - $ 1,500,000 75.0% 6.3%
Total Margin 120,000 50,000 40,000 20,000 20,000 20,000 45,000 55,000 60,000 50,000 20,000 - $ 500,000 25.0% 8.3%

Standard Delivery
4000 Sold 750 200 300 900 600 200 260 400 100 100 100 90 4,000 48.8%
Total Sales 1,875,000 500,000 750,000 2,250,000 1,500,000 500,000 650,000 1,000,000 250,000 250,000 250,000 225,000 $ 10,000,000 100.0% 33.3%
Total COGS 1,162,500 310,000 465,000 1,395,000 930,000 310,000 403,000 620,000 155,000 155,000 155,000 139,500 $ 6,200,000 62.0% 25.9%
Margin 712,500 190,000 285,000 855,000 570,000 190,000 247,000 380,000 95,000 95,000 95,000 85,500 $ 3,800,000 38.0% 62.8%

Ecommerce fulfillment
500 Sold 120 50 40 50 70 100 20 40 10 500 6.1%
Total Sales 480,000 200,000 160,000 - 200,000 - 280,000 400,000 80,000 160,000 40,000 - $ 2,000,000 100.0% 6.7%
Total COGS 444,000 185,000 148,000 - 185,000 - 259,000 370,000 74,000 148,000 37,000 - $ 1,850,000 92.5% 7.7%
Margin 36,000 15,000 12,000 - 15,000 - 21,000 30,000 6,000 12,000 3,000 - $ 150,000 7.5% 2.5%

Same Day Delivery

3200 Sold 1,000 800 300 200 200 100 100 100 100 100 200 3,200 39.0%
Total Sales 5,000,000 4,000,000 1,500,000 1,000,000 1,000,000 500,000 500,000 500,000 500,000 500,000 1,000,000 - $ 16,000,000 100.0% 53.3%
Total COGS 4,500,000 3,600,000 1,350,000 900,000 900,000 450,000 450,000 450,000 450,000 450,000 900,000 - $ 14,400,000 90.0% 60.1%
Margin 500,000 400,000 150,000 100,000 100,000 50,000 50,000 50,000 50,000 50,000 100,000 - $ 1,600,000 10.0% 26.4%

Product 5
Units Sold 0 0.0%
Total Sales - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS - - - - - - - - - - - - $ - 0.0% 0.0%
Margin - - - - - - - - - - - - $ - 0.0% 0.0%

Product 6
Units Sold 0 0.0%
Total Sales - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS - - - - - - - - - - - - $ - 0.0% 0.0%
Margin - - - - - - - - - - - - $ - 0.0% 0.0%
Total Units Sold 1,990 1,100 680 1,120 870 320 475 655 280 290 330 90 8,200
Total Sales $ 7,835,000 $ 4,900,000 $ 2,570,000 $ 3,330,000 $ 2,780,000 $ 1,080,000 $ 1,610,000 $ 2,120,000 $ 1,070,000 $ 1,110,000 $ 1,370,000 $ 225,000 $ 30,000,000
Total Cost of Goods Sold $ 6,466,500 $ 4,245,000 $ 2,083,000 $ 2,355,000 $ 2,075,000 $ 820,000 $ 1,247,000 $ 1,605,000 $ 859,000 $ 903,000 $ 1,152,000 $ 139,500 $ 23,950,000
Total Margin $ 1,368,500 $ 655,000 $ 487,000 $ 975,000 $ 705,000 $ 260,000 $ 363,000 $ 515,000 $ 211,000 $ 207,000 $ 218,000 $ 85,500 $ 6,050,000

704812293.xlsx 3a-SalesForecastYear1 11/14/2023 17:33:04

 Sales Forecast Years 1-3
This sheet will populate based on information in the year 1 Sales Forecast.

The included growth rate is just a starting point, if you can provide a more
Prepared by: Company Name: accurate prediction for each month, unlock the sheet (see Directions) and
change the value for that month. Please note that you will no longer have
Vesil Delivery Services a formula in that cell once you change the value, so you may want to save
Adeyemi Ayooluwa Adesina a copy of this spreadsheet under a different name before doing so.

Growth Rate Year 1 to Year 2: 10.00%

Growth Rate Year 2 to Year 3: 10.00%

Category
Product Lines Year 1 Totals December January February March April May June July August September October November Year 2 Totals Breakdown
Express delivery
500 Sold 500 132 55 44 22 22 22 50 61 66 55 22 0 550
Total Sales $ 2,000,000 528,000 220,000 176,000 88,000 88,000 88,000 198,000 242,000 264,000 220,000 88,000 - $ 2,200,000 100.0%
Total COGS $ 1,500,000 396,000 165,000 132,000 66,000 66,000 66,000 148,500 181,500 198,000 165,000 66,000 - $ 1,650,000 75.0%
Total Margin $ 500,000 132,000 55,000 44,000 22,000 22,000 22,000 49,500 60,500 66,000 55,000 22,000 - $ 550,000 25.0%

Standard Delivery
4000 Sold 4000 825 220 330 990 660 220 286 440 110 110 110 99 4,400
Total Sales $ 10,000,000 2,062,500 550,000 825,000 2,475,000 1,650,000 550,000 715,000 1,100,000 275,000 275,000 275,000 247,500 $ 11,000,000 100.0%
Total COGS $ 6,200,000 1,278,750 341,000 511,500 1,534,500 1,023,000 341,000 443,300 682,000 170,500 170,500 170,500 153,450 $ 6,820,000 62.0%
Margin $ 3,800,000 783,750 209,000 313,500 940,500 627,000 209,000 271,700 418,000 104,500 104,500 104,500 94,050 $ 4,180,000 38.0%

Ecommerce fulfillment
500 Sold 500 132 55 44 0 55 0 77 110 22 44 11 0 550
Total Sales $ 2,000,000 528,000 220,000 176,000 - 220,000 - 308,000 440,000 88,000 176,000 44,000 - $ 2,200,000 100.0%
Total COGS $ 1,850,000 488,400 203,500 162,800 - 203,500 - 284,900 407,000 81,400 162,800 40,700 - $ 2,035,000 92.5%
Margin $ 150,000 39,600 16,500 13,200 - 16,500 - 23,100 33,000 6,600 13,200 3,300 - $ 165,000 7.5%

Same Day Delivery

3200 Sold 3200 1,100 880 330 220 220 110 110 110 110 110 220 0 3,520
Total Sales 16000000 5,500,000 4,400,000 1,650,000 1,100,000 1,100,000 550,000 550,000 550,000 550,000 550,000 1,100,000 - $ 17,600,000 100.0%
Total COGS $ 14,400,000 4,950,000 3,960,000 1,485,000 990,000 990,000 495,000 495,000 495,000 495,000 495,000 990,000 - $ 15,840,000 90.0%
Margin $ 1,600,000 550,000 440,000 165,000 110,000 110,000 55,000 55,000 55,000 55,000 55,000 110,000 - $ 1,760,000 10.0%

Product 5
Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - - - - - - - - - - - - - $ - 0.0%
Total COGS $ - - - - - - - - - - - - - $ - 0.0%
Margin $ - - - - - - - - - - - - - $ - 0.0%

Product 6
Sold 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Sales $ - - - - - - - - - - - - - $ - 0.0%
Total COGS $ - - - - - - - - - - - - - $ - 0.0%
Margin $ - - - - - - - - - - - - - $ - 0.0%
Total Units Sold 8200 2,189 1,210 748 1,232 957 352 523 721 308 319 363 99 9,020
Total Sales $ 30,000,000 $ 8,618,500 $ 5,390,000 $ 2,827,000 $3,663,000 $ 3,058,000 $1,188,000 $ 1,771,000 $2,332,000 $ 1,177,000 $1,221,000 $ 1,507,000 $ 247,500 $ 33,000,000
Total Cost of Goods Sold $ 23,950,000 $ 7,113,150 $ 4,669,500 $ 2,291,300 $2,590,500 $ 2,282,500 $ 902,000 $ 1,371,700 $1,765,500 $ 944,900 $ 993,300 $ 1,267,200 $ 153,450 $ 26,345,000
Total Margin $ 6,050,000 $ 1,505,350 $ 720,500 $ 535,700 $1,072,500 $ 775,500 $ 286,000 $ 399,300 $ 566,500 $ 232,100 $ 227,700 $ 239,800 $ 94,050 $ 6,655,000

704812293.xlsx 3b-SalesForecastYrs1-3 11/14/2023 17:33:05

 Sales Forecast Years 1-3

Category / Category
Product Lines Total December January February March April May June July August September October November Year 3 Totals Breakdown Category / Total
Express delivery
500 Sold 6.1% 145 61 48 24 24 24 54 67 73 61 24 - 605 6.1%
Total Sales 6.7% 580,800 242,000 193,600 96,800 96,800 96,800 217,800 266,200 290,400 242,000 96,800 - $ 2,420,000 100.0% 6.7%
Total COGS 6.3% 435,600 181,500 145,200 72,600 72,600 72,600 163,350 199,650 217,800 181,500 72,600 - $ 1,815,000 75.0% 6.3%
Total Margin 8.3% 145,200 60,500 48,400 24,200 24,200 24,200 54,450 66,550 72,600 60,500 24,200 - $ 605,000 25.0% 8.3%

Standard Delivery
4000 Sold 48.8% 908 242 363 1,089 726 242 315 484 121 121 121 109 4,840 48.8%
Total Sales 33.3% 2,268,750 605,000 907,500 2,722,500 1,815,000 605,000 786,500 1,210,000 302,500 302,500 302,500 272,250 $ 12,100,000 100.0% 33.3%
Total COGS 25.9% 1,406,625 375,100 562,650 1,687,950 1,125,300 375,100 487,630 750,200 187,550 187,550 187,550 168,795 $ 7,502,000 62.0% 25.9%
Margin 62.8% 862,125 229,900 344,850 1,034,550 689,700 229,900 298,870 459,800 114,950 114,950 114,950 103,455 $ 4,598,000 38.0% 62.8%

Ecommerce fulfillment
500 Sold 6.1% 145 61 48 0 61 0 85 121 24 48 12 0 605 6.1%
Total Sales 6.7% 580,800 242,000 193,600 - 242,000 - 338,800 484,000 96,800 193,600 48,400 - $ 2,420,000 100.0% 6.7%
Total COGS 7.7% 537,240 223,850 179,080 - 223,850 - 313,390 447,700 89,540 179,080 44,770 - $ 2,238,500 92.5% 7.7%
Margin 2.5% 43,560 18,150 14,520 - 18,150 - 25,410 36,300 7,260 14,520 3,630 - $ 181,500 7.5% 2.5%

Same Day Delivery

3200 Sold 39.0% 1,210 968 363 242 242 121 121 121 121 121 242 0 3,872 39.0%
Total Sales 53.3% 6,050,000 4,840,000 1,815,000 1,210,000 1,210,000 605,000 605,000 605,000 605,000 605,000 1,210,000 - $ 19,360,000 100.0% 53.3%
Total COGS 60.1% 5,445,000 4,356,000 1,633,500 1,089,000 1,089,000 544,500 544,500 544,500 544,500 544,500 1,089,000 - $ 17,424,000 90.0% 60.1%
Margin 26.4% 605,000 484,000 181,500 121,000 121,000 60,500 60,500 60,500 60,500 60,500 121,000 - $ 1,936,000 10.0% 26.4%

Product 5
Sold 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0%
Total Sales 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Margin 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%

Product 6
Sold 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0%
Total Sales 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total COGS 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Margin 0.0% - - - - - - - - - - - - $ - 0.0% 0.0%
Total Units Sold 2,408 1,331 823 1,355 1,053 387 575 793 339 351 399 109 9,922
Total Sales $9,480,350 $ 5,929,000 $3,109,700 $4,029,300 $3,363,800 $1,306,800 $1,948,100 $2,565,200 $ 1,294,700 $1,343,100 $ 1,657,700 $ 272,250 $ 36,300,000
Total Cost of Goods Sold $7,824,465 $ 5,136,450 $2,520,430 $2,849,550 $2,510,750 $ 992,200 $1,508,870 $1,942,050 $ 1,039,390 $1,092,630 $ 1,393,920 $ 168,795 $ 28,979,500
Total Margin $1,655,885 $ 792,550 $ 589,270 $1,179,750 $ 853,050 $ 314,600 $ 439,230 $ 623,150 $ 255,310 $ 250,470 $ 263,780 $ 103,455 $ 7,320,500

704812293.xlsx 3b-SalesForecastYrs1-3 11/14/2023 17:33:05

 Additional Inputs
If you are a retail
business or don't
Prepared By: Company Name: have accounts In this field put the percentage of your sales that
receivable put 100% you expect to carry as A/R. If your business sells in
Adeyemi Ayooluwa Adesina Vesil Delivery Services
for each year. cash, put 0%. Otherwise, estimate the percentage
that will be paid between Allowance
30 and 60fordays
badafter
debt sale.
is the percentage of total
A/R you believe will not be collectable for
Accounts Receivable (A/R) Days Sales Outstanding whatever reason. It could be because your
Percent of Collections Year 1 Year 2 Year 3 customer becomes insolvent or goes out of
business.
Paid within 30 days 100% 100% 100%
Paid between 30 and 60 days 0% 0% 0% If you can find an industry average for your
industry, use that percentage. If in doubt, use
Paid in more than 60 days 0% 0% 0% either 0 or 1%. Many businesses that have good
Allowance for bad debt 0% 0% 0% collection processes may have substantially less
This should equal 100% ----> 100% 100% 100%
than 1% during a strong economy. Bankers like to
see a figure here because it lets them know you
are realistic about discounting the total value of
Accounts Payable (A/P) your A/R as collateral for a potential loan.
Percent of Disbursements Year 1 Year 2 Year 3
Paid within 30 days 50% 40% 70% In this field put the percentage of your sales that you
Paid between 30 and 60 days 30% 40% 20% expect to carry as A/R but not paid for more than 60 days.
Paid in more than 60 days 20% 20% 10% If your business sells in cash, put 0%. Otherwise,
This should equal 100% ----> 100% 100% 100% estimate the percentage that will be paid more than 60
How low do you want to let your days after sale.
ending cash balance to get? The
minimum should be $0, but you
Line of Credit Assumptions might want to choose $1000,
Desired Minimum Cash Balance 1000 $5000, etc.
Line of Credit Interest Rate 2.00%

Additional Fixed Assets Purchases

Fixed Assets Depreciation (years) December January February March April May June July August September October November Year 1 Totals Year 2 Total Year 3 Total

Real Estate 20 $ - $ -
Leasehold Improvements 7 $ - $ -
Equipment 5 $ 20,000 $ 20,000
Furniture and Fixtures 7 $ 12,000 $ 12,000
Vehicles 10 $ 8,000,000 $ 8,000,000
Other Fixed Assets 5 $ 20,000 $ 20,000 $ - $ -
Total Additional Fixed Assets $ 8,052,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 8,052,000 $ - $ -

Trading Economies.
Income Tax Assumptions (2022). Nigeria
Effective Income Tax Rate - Year 1 30.0% Personal Income Tax
Rate | 2011-2020 Data
Effective Income Tax Rate - Year 2 30.0% | 2021-2022 Forecast |
Effective Income Tax Rate - Year 3 30.0% Historical.
Tradingeconomics.com.
https://tradingeconomi
Amortization of Start-Up Costs cs.com/nigeria/persona
l-income-tax-rate
Amortization Period in Years 3

704812293.xlsx 4-AdditionalInputs 11/14/2023 17:33:05

 Operating Expenses Year 1

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

December January February March April May June July August September October November Annual Totals
Expenses
Advertising 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 $ 30,000
Car and Truck Expenses 80,000 10,000 10,000 20,000 80,000 10,000 20,000 20,000 10,000 10,000 10,000 2,000 $ 282,000
Commissions and Fees 1,000 $ 1,000
Contract Labor (Not included in payroll) 10,000 10,000 $ 20,000
Insurance (other than health) 20,000 $ 20,000
Legal and Professional Services 10,000 $ 10,000
Licenses 5,000 $ 5,000
Office Expense 1,000 500 500 200 300 350 400 450 400 550 1,000 $ 5,650
Rent or Lease -- Vehicles, Machinery, Equipment 5,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 $ 25,000
Rent or Lease -- Other Business Property 5,000 $ 5,000
Repairs and Maintenance 3,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 10,000 $ 23,000
Supplies $ -
Travel, Meals and Entertainment 100 100 50 20 20 20 20 20 20 20 100 10,000 $ 10,490
Utilities 1,200 800 550 550 550 550 550 550 550 550 1,000 550 $ 7,950
Miscellaneous 50 50 50 50 50 50 50 50 50 50 $ 500
Total Expenses $ 138,850 $ 16,950 $ 16,650 $ 26,320 $ 86,420 $ 16,470 $ 41,520 $ 26,570 $ 16,520 $ 16,670 $ 17,600 $ 25,050 $ 445,590

Other Expenses
Depreciation 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 $ 809,200
Interest
Commercial Loan 5,417 5,372 5,327 5,281 5,235 5,189 5,142 5,095 5,048 5,000 4,952 4,903 $ 61,961
Commercial Mortgage - - - - - - - - - - - - $ -
Credit Card Debt 833 821 809 796 784 772 759 746 734 721 708 696 $ 9,180
Vehicle Loans 3,177 3,127 3,077 3,027 2,977 2,927 2,877 2,827 2,776 2,725 2,675 2,624 $ 34,818
Other Bank Debt 207 201 196 190 184 179 173 168 162 156 151 145 $ 2,111
Line of Credit - - - - - - - - - - - - $ -
Bad Debt Expense - - - - - - - - - - - - $ -
Total Other Expenses $ 77,067 $ 76,955 $ 76,842 $ 76,728 $ 76,614 $ 76,500 $ 76,385 $ 76,269 $ 76,153 $ 76,036 $ 75,919 $ 75,801 $ 917,269
Total Fixed Operating Expenses $ 215,917 $ 93,905 $ 93,492 $ 103,048 $ 163,034 $ 92,970 $ 117,905 $ 102,839 $ 92,673 $ 92,706 $ 93,519 $ 100,851 $ 1,362,859

704812293.xlsx 5a-OpExYear1 11/14/2023 17:33:05

 Operating Expenses Years 1-3

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

Line Item 2023 Growth Rate 1 to 2 2024 Growth Rate 2 to 3 2025

Advertising 30,000 2.0% 30,600 1.5% 31,059
Car and Truck Expenses 282,000 2.0% 287,640 1.5% 291,955
Commissions and Fees 1,000 2.0% 1,020 1.5% 1,035
Contract Labor (Not included in payroll) 20,000 2.0% 20,400 1.5% 20,706
Insurance (other than health) 20,000 2.0% 20,400 1.5% 20,706
Legal and Professional Services 10,000 2.0% 10,200 1.5% 10,353
Licenses 5,000 2.0% 5,100 2.0% 5,202
Office Expense 5,650 2.0% 5,763 1.5% 5,849
Rent or Lease -- Vehicles, Machinery, Equipment 25,000 2.0% 25,500 2.0% 26,010
Rent or Lease -- Other Business Property 5,000 2.0% 5,100 2.0% 5,202
Repairs and Maintenance 23,000 2.0% 23,460 1.5% 23,812
Supplies - 2.0% - 1.5% -
Travel, Meals and Entertainment 10,490 2.0% 10,700 1.0% 10,807
Utilities 7,950 2.0% 8,109 1.5% 8,231
Miscellaneous 500 2.0% 510 1.5% 518
Total Expenses $ 445,590 $ 454,502 $ 461,444

Other Expenses
Depreciation 809,200 809,200 809,200
Interest
Commercial Loan 61,961 54,889 47,078
Commercial Mortgage - - -
Credit Card Debt 9,180 7,147 5,390
Vehicle Loans 34,818 27,485 19,967
Other Bank Debt 2,111 1,289 458
Line of Credit - - -
Bad Debt Expense -
Total Other Expenses $ 917,269 $ 900,011 $ 882,093
Total Operating Expenses $ 1,362,859 $ 1,354,512 $ 1,343,538

704812293.xlsx 5b-OpExYrs1-3 11/14/2023 17:33:05

 Cash Flow Forecast Year 1

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

December January February March April May June July August September October November Totals
Beginning Balance $ - $ 4,402,047 $ 5,161,793 $ 3,427,937 $ 4,019,364 $ 4,491,491 $ 3,530,487 $ 3,753,613 $ 4,445,590 $ 4,059,245 $ 4,061,521 $ 4,334,368
Cash Inflows
Cash Sales 7,835,000 4,900,000 2,570,000 3,330,000 2,780,000 1,080,000 1,610,000 2,120,000 1,070,000 1,110,000 1,370,000 225,000 $ 30,000,000
Accounts Receivable - - - - - - - - - - - - $ -
Total Cash Inflows $ 7,835,000 $ 4,900,000 $ 2,570,000 $ 3,330,000 $ 2,780,000 $ 1,080,000 $ 1,610,000 $ 2,120,000 $ 1,070,000 $ 1,110,000 $ 1,370,000 $ 225,000 $ 30,000,000

Cash Outflows
Investing Activities
New Fixed Asset Purchases - - - - - - - - - - - - $ -
Additional Inventory $ -
Cost of Goods Sold 3,233,250 4,062,450 3,608,300 2,651,400 2,160,600 1,503,500 1,284,500 1,340,600 1,160,400 1,030,200 1,018,700 595,950 $ 23,649,850
Operating Activities
Operating Expenses 138,850 16,950 16,650 26,320 86,420 16,470 41,520 26,570 16,520 16,670 17,600 25,050 $ 445,590
Payroll 15,671 15,671 15,671 15,671 15,671 15,671 15,671 15,671 15,671 15,671 15,671 15,671 $ 188,048
Taxes - - 618,052 - - 460,181 - - 218,571 - - 52,924 $ 1,349,728
Financing Activities
Loan Payments 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 $ 542,193
Owners Distribution $ -
Line of Credit Interest - - - - - - - - - - - $ -
Line of Credit Repayments $ -
Dividends Paid $ -
Total Cash Outflows $ 3,432,953 $ 4,140,253 $ 4,303,856 $ 2,738,573 $ 2,307,873 $ 2,041,004 $ 1,386,873 $ 1,428,023 $ 1,456,345 $ 1,107,723 $ 1,097,153 $ 734,777 $ 26,175,409
Net Cash Flows $ 4,402,047 $ 759,747 $ (1,733,856) $ 591,427 $ 472,127 $ (961,004) $ 223,127 $ 691,977 $ (386,345) $ 2,277 $ 272,847 $ (509,777) $ 3,824,591
Operating Cash Balance $ 4,402,047 $ 5,161,793 $ 3,427,937 $ 4,019,364 $ 4,491,491 $ 3,530,487 $ 3,753,613 $ 4,445,590 $ 4,059,245 $ 4,061,521 $ 4,334,368 $ 3,824,591
Line of Credit Drawdown $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Ending Cash Balance $ 4,402,047 $ 5,161,793 $ 3,427,937 $ 4,019,364 $ 4,491,491 $ 3,530,487 $ 3,753,613 $ 4,445,590 $ 4,059,245 $ 4,061,521 $ 4,334,368 $ 3,824,591
Line of Credit Balance $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

704812293.xlsx 6a-CashFlowYear1 11/14/2023 17:33:05

 Cash Flow Forecast Years 1-3

NOTE: To only view the annual total side-by-side, highlight columns C through N
Prepared By: Company Name: and right-click. Then select "Hide". Use the same procedure to Hide columns P through AA. To show them again, highlight columns B, O and AB, right-click and
select "Unhide".
Adeyemi Ayooluwa A
Vesil Delivery Services

Year 1 Totals December January February March April May June July August September October November Year 2 Totals
Beginning Balance $ 3,824,591 $ 9,210,984 $ 9,759,377 $ 7,568,240 $ 8,243,973 $ 8,793,866 $ 7,566,719 $ 7,871,092 $ 8,667,166 $ 8,142,919 $ 8,134,892 $ 8,448,255
Cash Inflows
Cash Sales $ 30,000,000 8,618,500 5,390,000 2,827,000 3,663,000 3,058,000 1,188,000 1,771,000 2,332,000 1,177,000 1,221,000 1,507,000 247,500 $ 33,000,000
Accounts Receivable $ - - - - - - - - - - - - - $ -
Total Cash Inflows $ 30,000,000 $ 8,618,500 $ 5,390,000 $ 2,827,000 $ 3,663,000 $ 3,058,000 $ 1,188,000 $ 1,771,000 $ 2,332,000 $ 1,177,000 $ 1,221,000 $ 1,507,000 $ 247,500 $ 33,000,000

Cash Outflows
Investing Activities
New Fixed Asset Purchases $ - - - - - - - - - - - - - $ -
Additional Inventory $ - $ -
Cost of Goods Sold $ 23,649,850 3,131,460 4,740,960 4,206,950 2,886,620 2,407,460 1,791,900 1,365,980 1,435,280 1,358,500 1,128,380 1,093,180 766,920 $ 26,313,590
Operating Activities
Operating Expenses $ 445,590 37,875 37,875 37,875 37,875 37,875 37,875 37,875 37,875 37,875 37,875 37,875 37,875 $ 454,502
Payroll $ 188,048 17,589 17,589 17,589 17,589 17,589 17,589 17,589 17,589 17,589 17,589 17,589 17,589 $ 211,067
Taxes $ 1,349,728 - - 710,541 - - 522,600 - - 242,100 - - 51,586
Financing Activities
Loan Payments $ 542,193 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 44,994 45,183 $ 542,004
Owners Distribution $ - $ -
Line of Credit Interest $ - - - - - - - - - - - - - $ -
Line of Credit Repayments $ - $ -
Dividends Paid $ - $ -
Total Cash Outflows $ 26,175,409 $ 3,232,107 $ 4,841,607 $ 5,018,137 $ 2,987,267 $ 2,508,107 $ 2,415,147 $ 1,466,627 $ 1,535,927 $ 1,701,247 $ 1,229,027 $ 1,193,638 $ 919,153 $ 27,521,162
Net Cash Flows $ 3,824,591 $ 5,386,393 $ 548,393 $ (2,191,137) $ 675,733 $ 549,893 $ (1,227,147) $ 304,373 $ 796,073 $ (524,247) $ (8,027) $ 313,362 $ (671,653) $ 5,478,838
Operating Cash Balance $ 9,210,984 $ 9,759,377 $ 7,568,240 $ 8,243,973 $ 8,793,866 $ 7,566,719 $ 7,871,092 $ 8,667,166 $ 8,142,919 $ 8,134,892 $ 8,448,255 $ 7,776,602
Line of Credit Drawdown $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Only record owner's draws above those already listed
Ending Cash Balance on the payroll tabs. $ 9,210,984 $ 9,759,377 $ 7,568,240 $ 8,243,973 $ 8,793,866 $ 7,566,719 $ 7,871,092 $ 8,667,166 $ 8,142,919 $ 8,134,892 $ 8,448,255 $ 7,776,602
Line of Credit Balance $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

704812293.xlsx 6b-CashFlowYrs1-3 11/14/2023 17:33:05

 Cash Flow Forecast Years 1-3

December January February March April May June July August September October November Year 3 Totals
Beginning Balance $ 7,776,602 ### ### ### ### ### ### ### ### ### ### ###
Cash Inflows
Cash Sales 9,480,350 5,929,000 3,109,700 4,029,300 3,363,800 1,306,800 1,948,100 2,565,200 1,294,700 1,343,100 1,657,700 272,250 $ 36,300,000
Accounts Receivable - - - - - - - - - - - - $ -
Total Cash Inflows 9,480,350 5,929,000 3,109,700 4,029,300 3,363,800 1,306,800 1,948,100 2,565,200 1,294,700 1,343,100 1,657,700 272,250 $ 36,300,000

Cash Outflows
Investing Activities
New Fixed Asset Purchases - - - - - - - - - - - - $ -
Additional Inventory $ -
Cost of Goods Sold 5,634,536 5,175,753 3,574,038 3,012,416 2,579,478 1,481,645 1,505,724 1,760,429 1,266,870 1,166,924 1,298,209 506,204 $ 28,962,225
Operating Activities
Operating Expenses 38,454 38,454 38,454 38,454 38,454 38,454 38,454 38,454 38,454 38,454 38,454 38,454 $ 461,444
Payroll 20,953 20,953 20,953 20,953 20,953 20,953 20,953 20,953 20,953 20,953 20,953 20,953 $ 251,441
Taxes - - 791,166 - - 584,419 - - 275,856 - - 66,215 $ 1,717,656
Financing Activities
Loan Payments 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 45,183 $ 542,193
Owners Distribution $ -
Line of Credit Interest - - - - - - - - - - - - $ -
Line of Credit Repayments $ -
Dividends Paid $ -
Total Cash Outflows $ 5,739,125 $ 5,280,343 $ 4,469,794 $ 3,117,006 $ 2,684,068 $ 2,170,654 $ 1,610,314 $ 1,865,019 $ 1,647,316 $ 1,271,514 $ 1,402,799 $ 677,009 $ 31,934,960
Net Cash Flows $ 3,741,225 $ 648,657 $ (1,360,094) $ 912,294 $ 679,732 $ (863,854) $ 337,786 $ 700,181 $ (352,616) $ 71,586 $ 254,901 $ (404,759) $ 4,365,040
Operating Cash Balance $11,517,827 $12,166,484 $10,806,390 $11,718,684 $12,398,416 $11,534,562 $11,872,348 $12,572,529 $12,219,914 $12,291,500 $12,546,401 $12,141,642
Line of Credit Drawdown $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Only record owner's draws above those already listed
Ending Cash Balance on the payroll tabs.
$11,517,827 $12,166,484 $10,806,390 $11,718,684 $12,398,416 $11,534,562 $11,872,348 $12,572,529 $12,219,914 $12,291,500 $12,546,401 $12,141,642
Line of Credit Balance $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

704812293.xlsx 6b-CashFlowYrs1-3 11/14/2023 17:33:05

 Income Statement Year 1

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

December January February March April May June July August September October November Annual Totals
Revenue
Express delivery 480,000 200,000 160,000 80,000 80,000 80,000 180,000 220,000 240,000 200,000 80,000 - $ 2,000,000
Standard Delivery 1,875,000 500,000 750,000 2,250,000 1,500,000 500,000 650,000 1,000,000 250,000 250,000 250,000 225,000 $ 10,000,000
Ecommerce fulfillment 480,000 200,000 160,000 - 200,000 - 280,000 400,000 80,000 160,000 40,000 - $ 2,000,000
Same Day Delivery 5,000,000 4,000,000 1,500,000 1,000,000 1,000,000 500,000 500,000 500,000 500,000 500,000 1,000,000 - $ 16,000,000
Product 5 - - - - - - - - - - - - $ -
Product 6 - - - - - - - - - - - - $ -
Total Revenue $ 7,835,000 $ 4,900,000 $ 2,570,000 $ 3,330,000 $ 2,780,000 $ 1,080,000 $ 1,610,000 $ 2,120,000 $ 1,070,000 $ 1,110,000 $ 1,370,000 $ 225,000 $ 30,000,000
Cost of Goods Sold
Express delivery 360,000 150,000 120,000 60,000 60,000 60,000 135,000 165,000 180,000 150,000 60,000 - $ 1,500,000
Standard Delivery 1,162,500 310,000 465,000 1,395,000 930,000 310,000 403,000 620,000 155,000 155,000 155,000 139,500 $ 6,200,000
Ecommerce fulfillment 444,000 185,000 148,000 - 185,000 - 259,000 370,000 74,000 148,000 37,000 - $ 1,850,000
Same Day Delivery 4,500,000 3,600,000 1,350,000 900,000 900,000 450,000 450,000 450,000 450,000 450,000 900,000 - $ 14,400,000
Product 5 - - - - - - - - - - - - $ -
Product 6 - - - - - - - - - - - - $ -
Total Cost of Goods Sold $ 6,466,500 $ 4,245,000 $ 2,083,000 $ 2,355,000 $ 2,075,000 $ 820,000 $ 1,247,000 $ 1,605,000 $ 859,000 $ 903,000 $ 1,152,000 $ 139,500 $ 23,950,000
Gross Margin $ 1,368,500 $ 655,000 $ 487,000 $ 975,000 $ 705,000 $ 260,000 $ 363,000 $ 515,000 $ 211,000 $ 207,000 $ 218,000 $ 85,500 $ 6,050,000
Payroll $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 15,671 $ 188,048
Operating Expenses
Advertising 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 $ 30,000
Car and Truck Expenses 80,000 10,000 10,000 20,000 80,000 10,000 20,000 20,000 10,000 10,000 10,000 2,000 $ 282,000
Commissions and Fees 1,000 - - - - - - - - - - - $ 1,000
Contract Labor (Not included in payroll) 10,000 - - - - - 10,000 - - - - - $ 20,000
Insurance (other than health) 20,000 - - - - - - - - - - - $ 20,000
Legal and Professional Services 10,000 - - - - - - - - - - - $ 10,000
Licenses 5,000 - - - - - - - - - - - $ 5,000
Office Expense 1,000 500 500 200 300 350 400 450 400 550 1,000 - $ 5,650
Rent or Lease -- Vehicles, Machinery, Equipment 5,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 - $ 25,000
Rent or Lease -- Other Business Property - - - - - - 5,000 - - - - - $ 5,000
Repairs and Maintenance 3,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 10,000 $ 23,000
Supplies - - - - - - - - - - - - $ -
Travel, Meals and Entertainment 100 100 50 20 20 20 20 20 20 20 100 10,000 $ 10,490
Utilities 1,200 800 550 550 550 550 550 550 550 550 1,000 550 $ 7,950
Miscellaneous 50 50 50 50 50 50 50 50 50 50 - - $ 500
Other Expense 1
Other Expense 2
Total Operating Expenses $ 138,850 $ 16,950 $ 16,650 $ 26,320 $ 86,420 $ 16,470 $ 41,520 $ 26,570 $ 16,520 $ 16,670 $ 17,600 $ 25,050 $ 445,590
Income (Before Other Expenses) $ 1,213,979 $ 622,379 $ 454,679 $ 933,009 $ 602,909 $ 227,859 $ 305,809 $ 472,759 $ 178,809 $ 174,659 $ 184,729 $ 44,779 $ 5,416,362
Other Expenses
Amortized Start-up Expenses 12,418 12,418 12,418 12,418 12,418 12,418 12,418 12,418 12,418 12,418 12,418 12,418 $ 149,016
Depreciation 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 $ 809,200
Interest
Commercial Loan 5,417 5,372 5,327 5,281 5,235 5,189 5,142 5,095 5,048 5,000 4,952 4,903 $ 61,961
Commercial Mortgage - - - - - - - - - - - - $ -
Credit Card Debt 833 821 809 796 784 772 759 746 734 721 708 696 $ 9,180
Vehicle Loans 3,177 3,127 3,077 3,027 2,977 2,927 2,877 2,827 2,776 2,725 2,675 2,624 $ 34,818
Other Bank Debt 207 201 196 190 184 179 173 168 162 156 151 145 $ 2,111
Line of Credit - - - - - - - - - - - - $ -
Bad Debt Expense - - - - - - - - - - - - $ -

704812293.xlsx 7a-IncomeStatementYear1 11/14/2023 17:33:05

 Income Statement Year 1

Total Other Expenses 89,485 89,373 89,260 89,146 89,032 88,918 88,803 88,687 88,571 88,454 88,337 88,219 $ 1,066,284
Net Income Before Income Tax $ 1,124,494 $ 533,007 $ 365,420 $ 843,863 $ 513,877 $ 138,942 $ 217,007 $ 384,072 $ 90,238 $ 86,205 $ 96,393 $ (43,439) $ 4,350,078
Income Tax $ 341,074 $ 163,627 $ 113,351 $ 256,884 $ 157,888 $ 45,408 $ 68,827 $ 118,947 $ 30,797 $ 29,587 $ 32,643 $ (9,306) $ 1,349,728
Net Profit/Loss $ 783,421 $ 369,379 $ 252,068 $ 586,979 $ 355,988 $ 93,534 $ 148,179 $ 265,125 $ 59,442 $ 56,618 $ 63,749 $ (34,133) $ 3,000,350

704812293.xlsx 7a-IncomeStatementYear1 11/14/2023 17:33:05

 Income Statement Years 1-3

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

Revenue 2023 2024 2025

Express delivery 2,000,000 2,200,000 2,420,000
Standard Delivery 10,000,000 11,000,000 12,100,000
Ecommerce fulfillment 2,000,000 2,200,000 2,420,000
Same Day Delivery 16,000,000 17,600,000 19,360,000
Product 5 - - -
Product 6 - - -
Total Revenue $ 30,000,000 100% $ 33,000,000 100% $ 36,300,000 100%
Cost of Goods Sold
Express delivery 1,500,000 1,650,000 1,815,000
Standard Delivery 6,200,000 6,820,000 7,502,000
Ecommerce fulfillment 1,850,000 2,035,000 2,238,500
Same Day Delivery 14,400,000 15,840,000 17,424,000
Product 5 - - -
Product 6 - - -
Total Cost of Goods Sold 23,950,000 80% 26,345,000 80% 28,979,500 80%
Gross Margin 6,050,000 20% 6,655,000 20% 7,320,500 20%
Payroll 188,048 211,067 251,441
Operating Expenses
Advertising 30,000 30,600 31,059
Car and Truck Expenses 282,000 287,640 291,955
Commissions and Fees 1,000 1,020 1,035
Contract Labor (Not included in payroll) 20,000 20,400 20,706
Insurance (other than health) 20,000 20,400 20,706
Legal and Professional Services 10,000 10,200 10,353
Licenses 5,000 5,100 5,202
Office Expense 5,650 5,763 5,849
Rent or Lease -- Vehicles, Machinery, Equipment 25,000 25,500 26,010
Rent or Lease -- Other Business Property 5,000 5,100 5,202
Repairs and Maintenance 23,000 23,460 23,812
Supplies - - -
Travel, Meals and Entertainment 10,490 10,700 10,807
Utilities 7,950 8,109 8,231
Miscellaneous 500 510 518
Other Expense 1
Other Expense 2

Total Operating Expenses $ 445,590 1% $ 454,502 1% $ 461,444 1%

Income (Before Other Expenses) $ 5,416,362 18% $ 5,989,432 18% $ 6,607,614 18%

Other Expenses

Amortized Start-up Expenses 149,016 149,016 149,016

Depreciation Also known as EBITDA (Earnings

809,200 Before Interest, Taxes, 809,200
809,200
Depreciation and Amortization). This metric allows for a
Interest
comparison across different businesses, which might have
Commercial Loan different
61,961 levels of taxes, depreciation,
54,889 or interest. This 47,078
number should be used in conjunction with other metrics,
Commercial Mortgage - - -
as it does not give a full picture of the health of the
Credit Card Debt business.
9,180 7,147 5,390

Vehicle Loans 34,818 27,485 19,967

Other Bank Debt 2,111 1,289 458

Line of Credit - - -

Bad Debt Expense - - -

Total Other Expenses $ 1,066,284 4% $ 1,049,026 3% $ 1,031,109 3%

Net Income Before Income Tax $ 4,350,078 15% $ 4,940,406 15% $ 5,576,505 15%
Income Tax $ 1,349,728 $ 1,526,826 $ 1,717,656
Net Income/Loss $ 3,000,350 10% $ 3,413,579 10% $ 3,858,849 11%

704812293.xlsx 7b-IncomeStatementYrs1-3 11/14/2023 17:33:05

 Balance Sheet Years 1-3

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

ASSETS 2023 2024 2025

Current Assets
Cash 3,824,591 7,776,602 12,141,642
Accounts Receivable - - -
Inventory - - -
Prepaid Expenses 284,698 142,349 -
Other Initial Costs 13,333 6,667 -
Total Current Assets $ 4,122,622 $ 7,925,618 $ 12,141,642

Fixed Assets
Real Estate -- Land - - -
Real Estate -- Buildings - - -
Leasehold Improvements - - -
Equipment 20,000 20,000 20,000
Furniture and Fixtures 12,000 12,000 12,000
Vehicles 8,000,000 8,000,000 8,000,000
Other 20,000 20,000 20,000
Total Fixed Assets $ 8,052,000 $ 8,052,000 $ 8,052,000
(Less Accumulated Depreciation) $ 809,200 $ 1,618,400 $ 2,427,600
Total Assets $ 11,365,422 $ 14,359,217 $ 17,766,042

LIABILITIES & EQUITY

Liabilities
Accounts Payable 300,150 331,560 348,836
Commercial Loan Balance 582,471 507,872 425,460
Commercial Mortgage Balance - - -
Credit Card Debt Balance 163,889 125,930 86,030
Vehicle Loans Balance 1,235,041 937,749 632,939
Other Bank Debt Balance 83,521 42,178 (0)
Line of Credit Balance - - -
Total Liabilities $ 2,365,073 $ 1,945,289 $ 1,493,265
Equity
Common Stock 6,000,000 6,000,000 6,000,000
Retained Earnings 3,000,350 6,413,929 10,272,778
Dividends Dispersed/Owners Draw - - -
Total Equity $ 9,000,350 $ 12,413,929 $ 16,272,778
Total Liabilities and Equity $ 11,365,422 $ 14,359,217 $ 17,766,042

$ - $ - $ -
Balance sheet in or out of balance?
Balanced! Balanced! Balanced!

704812293.xlsx 8-BalanceSheet 11/14/2023 17:33:05

 Breakeven Analysis

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

Gross Margin % of Sales

Gross Margin $ 6,050,000
Total Sales $ 30,000,000
Gross Margin/Total Sales 20.2%
Total Fixed Expenses

$ 188,047.92
Payroll

$ 1,362,858.82
Operating Expenses
Operating + Payroll $ 1,550,907

Breakeven Sales in Dollars (Annual)

20.2%
Gross Margin % of Sales

$ 1,550,907
Total Fixed Expenses

$ 7,690,447
Yearly Breakeven Amount
Monthly Breakeven Amount $ 640,871

704812293.xlsx BreakevenAnalysis 11/14/2023 17:33:05

 Financial Ratios - Year 1

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services With some resea
Management As
information, for
Ratios Year One Year Two Year Three Industry Norms Notes can use. You can
Liquidity such as www.biz
need to use a m
Current Ratio 1.7 4.1 8.1 1.4 Speak with your
Quick Ratio 1.6 4.0 8.1 1.3 relevant to your
Safety
Leave this colum
Debt to Equity Ratio 0.3 0.2 0.1 0.9
Debt-Service Coverage Ratio - DSCR 1.6 2.2 3.1 32.1
Profitability
Sales Growth 0.0% 10.0% 10.0%
COGS to Sales 79.8% 79.8% 79.8%
Gross Profit Margin 20.2% 20.2% 20.2% 16.5%
SG&A to Sales 2.1% 2.0% 2.0%
Net Profit Margin 10.0% 10.3% 10.6% 8.0%
Return on Equity (ROE) 33.3% 27.5% 23.7% 23.2%
Return on Assets 26.4% 23.8% 21.7% 10.9%
Owner's Compensation to Sales 0.1% 0.1% 0.1%
Efficiency
Days in Receivables 0.0 0.0 0.0
Accounts Receivable Turnover 0.0 0.0 0.0 0.0
Days in Inventory 0.0 0.0 0.0 0.0
Inventory Turnover 0.0 0.0 0.0 0.0
Sales to Total Assets 2.6 2.3 2.0

This ratio shows the

704812293.xlsx average
This rationumber
FinancialRatios of days
calculates it
the number 11/14/2023 17:33:05
will take inventory
of times to sell youris turned
inventory.
over ratio
This (or sold) duringhow
indicates the year.
 Diagnostic Tools - Year 1

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

General Financing Assumptions Value Findings

Owner's Cash Injection into the Business 58.8% Owner's injection is reasonable
Cash Request as percent of Total Required Funds 0.0% Cash request seems reasonable with respect to total request

Loan Assumptions Value Findings

Commercial Loan Interest rate 10.0% Interest rate seems reasonable
Commercial Loan Term in Months 84 Loan term seems within range for this type of loan
Commercial Mortgage Interest rate 10.0% Interest rate seems reasonable
Commercial Mortgage Term in Months 240 Loan term seems within range for this type of loan
Debt-Service Coverage 161.1% Calculated loan payments relative to operating proft may be too high

Income Statement Value Findings

Gross Margin as a Percent of Sales 20.2% Gross margin percentage seems reasonable
Owner's Compensation Lower Limit Check $ 16,640 An owner's compensation amount has been established
Owner's Compensation Upper Limit Check 0.6% Owner's compensation seems reasonable
Advertising Expense Levels as a Percent of Sales 0.1% Advertising as a percent of sales may be too low
Profitability Levels $ 3,000,350 The business is showing a profit
Profitability as a Percent of Sales 10.0% The projection does not seem highly unreasonable

Cash Flow Statement Value Findings

Desired Operating cash Flow Levels $ - The financial projection provides the desired level of cash flow
Line of Credit Drawdowns $ - The business doesn't seem to require a line of credit
Accounts Receivable Ratio to Sales 0.0% Accounts receivable amount as a percent of sales seems reasonable

Balance Sheet Value Findings

Does the Year 1 Balance Sheet Balance? $ - The balance sheet does balance
Debt to Equity Ratio 26.3% Very comfortable

Breakeven Analysis Value Findings

Do Sales Exceed the Breakeven Level? $ 22,309,553 The sales projection exceeds the projected break-even sales level

704812293.xlsx DiagnosticTools 11/14/2023 17:33:05

 COGS Calculator

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services

Variable Costs of Products

Timeframe: Month
Product Line: Widget
Raw materials
Labor used to produce product
Costs associated with shipping and storing raw materials
Production facility expenses (use fraction of total if facility is used for other items)
Total Product Expenses $ -
Number Units Sold in timeframe used
Cost of Goods Sold Per Unit Please enter all information.

Variable Costs of Services

Timeframe: Month
Product Line: Project
Amount spent on labor during timeframe
Amount spent on materials during this timeframe

List any other variable costs associated with the delivery of your service during this timeframe.
Total Service Expenses $ -
Number Units Sold During Timeframe
Cost of Goods Sold Per Unit Please enter all information.

704812293.xlsx COGS Calculator 11/14/2023 17:33:05

 Amortization and Depreciation Schedule

Prepared By: Company Name:

Adeyemi Ayooluwa Adesina Vesil Delivery Services Return to Starting Point

Commercial Loan
Principal Amount $ 650,000
Interest Rate 10.00%
Loan Term in Months 84.00
Monthly Payment Amount $10,790.77
December January February March April May June July August September October November Totals
Year One
Interest 5,417 5,372 5,327 5,281 5,235 5,189 5,142 5,095 5,048 5,000 4,952 4,903 $ 61,961
Principal 5,374 5,419 5,464 5,510 5,555 5,602 5,648 5,696 5,743 5,791 5,839 5,888 $ 67,529
Loan Balance 644,626 639,207 633,743 628,233 622,678 617,076 611,428 605,732 599,989 594,198 588,359 582,471
Year Two
Interest 4,854 4,804 4,755 4,704 4,654 4,602 4,551 4,499 4,446 4,394 4,340 4,286 $ 54,889
Principal 5,937 5,986 6,036 6,087 6,137 6,188 6,240 6,292 6,344 6,397 6,451 6,504 $ 74,600
Loan Balance 576,535 570,548 564,512 558,425 552,288 546,100 539,860 533,568 527,224 520,826 514,376 507,872
Year Three
Interest 4,232 4,178 4,122 4,067 4,011 3,954 3,897 3,840 3,782 3,724 3,665 3,605 $ 47,078
Principal 6,559 6,613 6,668 6,724 6,780 6,836 6,893 6,951 7,009 7,067 7,126 7,185 $ 82,411
Loan Balance 501,313 494,700 488,032 481,308 474,528 467,692 460,798 453,847 446,839 439,772 432,646 425,460

Commercial Mortgage
Principal Amount $ -
Interest Rate 10.00%
Loan Term in Months 240.00
Monthly Payment Amount $0.00
December January February March April May June July August September October November Totals
Year One
Interest - - - - - - - - - - - - $ -
Principal - - - - - - - - - - - - $ -
Loan Balance - - - - - - - - - - - -
Year Two
Interest - - - - - - - - - - - - $ -
Principal - - - - - - - - - - - - $ -
Loan Balance - - - - - - - - - - - -
Year Three
Interest - - - - - - - - - - - - $ -
Principal - - - - - - - - - - - - $ -
Loan Balance - - - - - - - - - - - -
 Amortization and Depreciation Schedule

Credit Card Debt

Principal Amount $ 200,000.00
Interest Rate 5.00%
Loan Term in Months 60.00
Monthly Payment Amount $3,774.25
December January February March April May June July August September October November Totals
Year One
Interest 833 821 809 796 784 772 759 746 734 721 708 696 $ 9,180
Principal 2,941 2,953 2,965 2,978 2,990 3,003 3,015 3,028 3,040 3,053 3,066 3,079 $ 36,111
Loan Balance 197,059 194,106 191,140 188,163 185,172 182,170 179,154 176,127 173,086 170,033 166,967 163,889
Year Two
Interest 683 670 657 644 631 618 605 592 578 565 366 538 $ 7,147
Principal 3,091 3,104 3,117 3,130 3,143 3,156 3,169 3,183 3,196 3,209 3,223 3,236 $ 37,959
Loan Balance 160,798 157,693 154,576 151,446 148,303 145,146 141,977 138,794 135,598 132,389 129,166 125,930
Year Three
Interest 525 511 498 484 470 456 443 429 415 401 387 373 $ 5,390
Principal 3,250 3,263 3,277 3,290 3,304 3,318 3,332 3,346 3,359 3,373 3,388 3,402 $ 39,901
Loan Balance 122,681 119,418 116,141 112,851 109,547 106,229 102,897 99,552 96,192 92,819 89,431 86,030

Vehicle Loans
Principal Amount $ 1,525,000.00
Interest Rate 2.50%
Loan Term in Months 60.00
Monthly Payment Amount $27,064.73
December January February March April May June July August September October November Totals
Year One
Interest 3,177 3,127 3,077 3,027 2,977 2,927 2,877 2,827 2,776 2,725 2,675 2,624 $ 34,818
Principal 23,888 23,937 23,987 24,037 24,087 24,138 24,188 24,238 24,289 24,339 24,390 24,441 $ 289,959
Loan Balance 1,501,112 1,477,175 1,453,188 1,429,150 1,405,063 1,380,926 1,356,738 1,332,500 1,308,211 1,283,872 1,259,482 1,235,041
Year Two
Interest 2,573 2,522 2,471 2,420 2,368 2,317 2,265 2,214 2,162 2,110 2,058 2,006 $ 27,485
Principal 24,492 24,543 24,594 24,645 24,696 24,748 24,799 24,851 24,903 24,955 25,007 25,059 $ 297,292
Loan Balance 1,210,549 1,186,006 1,161,412 1,136,767 1,112,071 1,087,323 1,062,524 1,037,672 1,012,769 987,815 962,808 937,749
Year Three
Interest 1,954 1,901 1,849 1,796 1,744 1,691 1,638 1,585 1,532 1,479 1,426 1,372 $ 19,967
Principal 25,111 25,163 25,216 25,268 25,321 25,374 25,427 25,480 25,533 25,586 25,639 25,693 $ 304,810
Loan Balance 912,638 887,475 862,259 836,990 811,669 786,296 760,869 735,389 709,857 684,271 658,632 632,939
 Amortization and Depreciation Schedule

Other Bank Debt

Principal Amount $124,047.00
Interest Rate 2.00%
Loan Term in Months 36.00
Monthly Payment Amount $3,553.03
December January February March April May June July August September October November Totals
Year One
Interest 207 201 196 190 184 179 173 168 162 156 151 145 $ 2,111
Principal 3,346 3,352 3,357 3,363 3,369 3,374 3,380 3,386 3,391 3,397 3,402 3,408 $ 40,526
Loan Balance 120,701 117,349 113,991 110,628 107,260 103,885 100,506 97,120 93,729 90,332 86,930 83,521
Year Two
Interest 139 134 128 122 116 111 105 99 93 88 78 76 $ 1,289
Principal 3,414 3,420 3,425 3,431 3,437 3,442 3,448 3,454 3,460 3,465 3,471 3,477 $ 41,343
Loan Balance 80,108 76,688 73,263 69,832 66,395 62,953 59,505 56,051 52,591 49,126 45,655 42,178
Year Three
Interest 70 64 59 53 47 41 35 29 24 18 12 6 $ 458
Principal 3,483 3,489 3,494 3,500 3,506 3,512 3,518 3,524 3,529 3,535 3,541 3,547 $ 42,178
Loan Balance 38,695 35,207 31,712 28,212 24,706 21,194 17,677 14,153 10,624 7,088 3,547 (0)

Depreciation
Real Estate-Buildings 20
Leasehold Improvements 7
Equipment 5
Furniture and Fixtures 10
Vehicles 10
Other 5
December January February March April May June July August September October November Totals
Year One
Starting Depreciation 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 $ 809,200
Additional Depreciation - - - - - - - - - - - -
Ending Depreciation 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 $ 809,200
Year Two
Starting Depreciation 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 $ 809,200
Additional Depreciation - - - - - - - - - - - -
Ending Depreciation 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 $ 809,200
Year Three
Starting Depreciation 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 $ 809,200
Additional Depreciation - - - - - - - - - - - -
Ending Deprecation 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 67,433 $ 809,200
 Amortization and Depreciation Schedule

Amortization of Start-Up Costs Monthly

Prepaid Expenses $ 427,047
Total Expensed each Year $ 142,349 11862
Other Initial Costs $ 20,000
Total Expensed each Year $ 6,667 556
Prepaid Expenses December January February March April May June July August September October November Totals
Year One
Amount Amortized 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 $ 142,349
Total Amortized 11,862 23,725 35,587 47,450 59,312 71,175 83,037 94,899 106,762 118,624 130,487 142,349
Year Two
Amount Amortized 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 $ 142,349
Total Amortized 154,211 166,074 177,936 189,799 201,661 213,523 225,386 237,248 249,111 260,973 272,836 284,698
Year Three
Amount Amortized 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 11,862 $ 142,349
Total Amortized 296,560 308,423 320,285 332,148 344,010 355,873 367,735 379,597 391,460 403,322 415,185 427,047

Other Initial Costs December January February March April May June July August September October November Totals
Year One
Amount Amortized 556 556 556 556 556 556 556 556 556 556 556 556 $ 6,667
Total Amortized 556 1,111 1,667 2,222 2,778 3,333 3,889 4,444 5,000 5,556 6,111 6,667
Year Two
Starting Depreciation 556 556 556 556 556 556 556 556 556 556 556 556 $ 6,667
Ending Depreciation 7,222 7,778 8,333 8,889 9,444 10,000 10,556 11,111 11,667 12,222 12,778 13,333
Year Three
Starting Depreciation 556 556 556 556 556 556 556 556 556 556 556 556 $ 6,667
Ending Deprecation 13,889 14,444 15,000 15,556 16,111 16,667 17,222 17,778 18,333 18,889 19,444 20,000
Date Last Revised Revised By Notes

Tab 3a, cell O55: added margin from 6th product.

Tab 3b, cells O49 and AD49: added margins from 6th
product. Tab 7b: added % sales for lines 23 and 59
6/21/2013 Heather Hendy for all three years.

Updated Tabs 5a, 5b, 7a, and 7b to automatically

carry over debt categories from Tab 1 in case they
are edited. Updated Tabs 5b, 7a and 7b to carry over
expense categories from tab 5a in case they are
7/14/2013 Heather Hendy edited.

Tab 8 Balance Sheet Cell F41 comes from E41 + tab

6b cell AB24 + tab 6b cell AB27.
However tab 6b cell AB27 did not have a sum total in
the cell.
So when paying Dividends in Year 3 the total for the
year is not calculated and carried over to the Balance
4/23/2014 Heather Hendy Sheet. This has now been updated.

Comments were added to the calculation for Social

Security taxes to clarify that salaries above the wage
base limited ($117,000 currently) will cause the
estimate to be overstated and will require manual
11/12/2015 Joe Clarke calculation.

2/10/2016 Joe Clarke Corrected an error (typo) in Amortization Table.

Corrected an error in the calculation of Income Tax

for Year 3 on Tab 7b and set defaults on Tab 4 to
4/3/2016 Joe Clarke those needed by most startups.

Corrected the calculation of income tax on Tabs 7a

and 7b to realize interest expenses from all loan
5/18/2016 Joe Clarke types as well as bad debt.

Tab 3 b 1-3 year sales forecast correct formula in col

Q and col AF referenced the incorrect totals at the
bottom of the sheet. Col Q, The incorrect formula
was referencing cell O52, O53, O54, O55 needed to
reference O46, O47, O48, O49. Col AF, The incorrect
formula was referencing cell O52, O53, O54, O55
6/7/2018 Michael Gilman needed to reference AD46, AD47, AD48, AD49.

Updated on the Amortization&Depreciation tab rows

122 and 126 all the formluas were incorrectly
dividing the number twice by 12 months it should
have been only divided once. I have changed it and
1/29/2019 Michael Gilman verified everything updates correctly now.
 Updated missing forumla on Additional Input sheet
2/19/2019 Michael Gilman P31 should be =sum(D31:O31)

updated missing formulas: 1. tab 2a line 15, the cells

highlighted in red are the current requirements for
2020
2. tab 3b cell AC12, highlighted in red, the formula
Lou Davenport was missing, so I have inserted the correct formula
(changes made 3. tab 7b, line 57, I inserted the missing formulas that
by Sameena I highlighted in red
2/17/2020 Usmani in sheet)