Sample Business Plan financials Total Expenses This is a tabulation of all expenses incurred in running your business, exclusive of taxes or interest expense on interest income, if any.
In addition, the clothing tastes and trends in the south are different from the north. These represent all costs involved in creating and placing print or multimedia advertising.
This is the fee incurred to rent or lease office or industrial space.
Other common expenses a service company incurs include travel costs, equipment and facility rentals and other service delivery costs. Depreciation is an annual expense that takes into account the loss in value of equipment used in your business.
Sales The sales figure represents the amount of revenue generated by the business. Operating Expenses These are the daily expenses incurred in the operation of your business.
In a service business where you, as the owner, are the only expense in supplying the service, and you do not pay yourself a salary beyond the company profits, your service expense may be zero.
To prepare an income statement, you need to understand each individual component. They may include travel, client meals, sales meetings, equipment rental for presentations, copying, or miscellaneous printing costs. In this sample, they are divided into two categories: The sample company sells mostly services, with some software sales.
Expenses The expenses for the sample company are broken down into 14 categories. Style Villain will also accept payments through mobile wallets to facilitate business, save money on transactions, and keep up with millennial trends. Even sales commissions are sometimes included in the cost of sales category, both for product businesses and service businesses.
Costs include materials purchased from outside suppliers used in the manufacture of your product, as well as any internal expenses directly expended in the manufacturing process. The cost of goods sold takes in material costs, labor and factory expenses involved in producing merchandise.
They will use the financial reporting contained therein to determine credit limits. These types of expenses may include insurance, office supplies, or cleaning services. Income statements, along with balance sheetsare the most basic elements required by potential lenders, such as banks, investors, and vendors.
The income statement of a merchandiser begins with gross profit, which is the difference between sales revenues and cost of goods sold. These categories are lumped together as general and administrative expenses in a single-step income statement.
Style Villain will work to make the purchase and return process as streamlined and efficient as possible for customers. Collateral fees are expenses incurred in the creation or purchase of printed sales materials used by your sales staff in marketing and selling your product.
Net ordinary income is what is left when you subtract all of the expenses from all of the income: The merchandiser is more likely to be involved in a suit over defective goods, whereas the service provider might be sued for breach of contract.
In your business plan you have probably addressed adding staff and marketing activities. How to Prepare an Income Statement? The average yearly salary of a Mt.
Style Villain will be set to capture this growing market on its upswing, and make a name for itself as a provider of quality, stylish garments. Income statements can also track dramatic increases in product returns or cost of goods sold as a percentage of sales, and can be used to determine income tax liability.Financial Statements for Manufacturing Businesses Since the income statement shows revenues, expenses and net income and the balance sheet shows assets, liabilities, and capital, Comparison of Merchandising and Manufacturing Businesses.
Clothing Retail Store Business Plan Sample. By Legal Templates • February 4, • Business Plan Samples. Mission Statement. This means that Mt. Pleasant residents have a higher than average amount expendable income. Aug 13, · Here is another example of an income statement, called a profit and loss statement in this sample business plan, found at Liveplan.
LivePlan is a cloud-based business plan writing software created by Palo Alto Software. This income statement reflects the type that would be typically created for a small business/5(4). Sample Business Plan Income Statement An income statement summarizes your revenue and costs and shows your net profit in your business plan.
Take a look at how a gift shop called Broad Street Emporium uses income statements to manage business finances.
Mahogany Western Wear clothing retail business plan financial plan. Mahogany Western Wear is a western apparel retail store catering to African-Americans. Clothing Retail Business Plan Sample - Financial Plan | Bplans/5().
Income Statement Template. Refer to the sample income statement in the tab below while reviewing this section as a guideline or income statement template for your own business. The income statement shows revenue and expenses, usually by month.Download