Insurance Agency Business Plan

Quaestor Services is forming as a sole proprietorship owned and operated by Sheila Claflin. This plan is a guide for financing, start-up, and management of the business.

  • The objectives of Quaestor are to generate profit, grow at a manageable rate, and be a good citizen in the community.
  • The mission of Quaestor is to provide high-quality, value-priced products and services.
  • The keys to success for Quaestor are a variety of business services and products, personal contact, timely service, developing one-to-one relationships, and a reputation of honesty and integrity.
  • The primary products offered will be from Whelnoan Insurance Company, with added value of accounting and financial services for small businesses.
  • The local market for this business is wide open. Whelnoan Insurance Company has captured 23% market share and is the second largest insurance company in Plainstate.
  • In the first year of operation, a customer base is being established. Over 85% of new and established insurance business will renew each year, creating compounding growth in sales of over 200% with limited increase in operational expense.

In summary, as shown in the highlights chart below, this plan projects rapid growth over the next three years with a profit forecasted in the second year of operation and continuing into future years. Implementing this plan will ensure Quaestor Services becomes a profitable venture.

Insurance Agency Business Plan Example

1.1 Objectives

The main objectives of Quaestor Services are:

  • Profit – create enough prosperity for the owner and employees to have a secure and comfortable lifestyle.
  • Growth – grow the business at a challenging and manageable rate.
  • Citizenship – be a social asset to the community and contribute to others who are less fortunate.

1.2 Mission

Quaestor Services is dedicated to providing insurance products and business services that offer high quality, protection, and value pricing. We wish to establish a successful partnership with our clients that respects their interests and goals.

Success will be measured by our clients choosing us because of their belief in our ability to meet or exceed their expectations of price, service, and expertise.

1.3 Keys to Success

The keys to the success for Quaestor Services are:

  • A wide variety of affordable, available, and understandable business services and insurance products.
  • Personal contact and service that exceeds our clients’ expectations.
  • Prompt and accurate delivery of services and products.
  • Building relationships with our clients that fosters renewal business.
  • A reputation in the community for honesty and integrity.

Company Summary

Quaestor Services is a start-up company located in Smileyville, Plainstate, a suburb of Niceburg, providing accounting, full-charge bookkeeping services, insurance, and retirement products to individuals, families, and small businesses.

2.1 Company Ownership

Quaestor Services is a sole proprietorship owned by Sheila Claflin. Born and raised in the Pacific Northwest with Native American Indian heritage, Sheila was relocated to Plainstate in 1994 by her employer.

She has over 30 years of experience in Finance, Accounting, Management, and Consulting and recently received her Plainstate insurance agent license for Life, Health, Property, and Casualty insurance.

In the near future, she intends to receive her Series 6 Securities license and take H & R Block Income Tax Course.

2.2 Start-up Summary

Quaestor Services start-up costs include:

  • Marketing/Lead Services: marketing and lead generation services to establish client base
  • Website Development: professionally developed business website on the Internet
  • Logo: professionally developed business logo for business recognition in the market place
  • Stationary: printing of letterhead and envelopes with the company logo
  • Business Cards: printing of business cards with company logo
  • Brochures: development and printing of brochures for marketing the business
  • Cell Phone and Pager: business cell phone and pager for communication with the clients
  • Office Supplies: supplies necessary to set up an office
  • Training/Licensing: costs associated with the three state licenses required for insurance business
  • Business Associations: membership into several business associations such as Chamber of Commerce

Quaestor Services long-term assets include:

  • Laptop Computer: used in meetings with clients for printing insurance quotes and on-line applications
  • PC Computer/Monitor: used in office for accounting services and record of business transactions
  • Printer/Copier/Scanner: used in office for business transactions

Start-up costs come to $30,000 of which $15,000 is being financed by a direct owner investment. In the first six months of operation, $15,000 financing is being sought after for the start-up costs. In mid-Year 1 an additional $10,000 in financing will be required to ensure business operations, marketing, and stability during the first year of operation.

Insurance Agency Business Plan Example

Start-up

Requirements

Start-up Expenses

Marketing/Lead Services – $4,000

Website Development – $1,500

Business Logo – $800

Stationary – $750

Business Cards – $300

Marketing Brochures – $2,500

Cell Phone and Pager – $300

Office Supplies – $350

Training/Licensing – $2,500

Business Associations – $2,000

Miscellaneous – $0

Total Start-up Expenses – $15,000

Start-up Assets

Cash Required – $10,000

Other Current Assets – $0

Long-term Assets – $3,000

Total Assets – $13,000

Total Requirements – $28,000

Services

Quaestor Services provides accounting and full-charge bookkeeping services, insurance and retirement products to individuals, families, and small businesses.

As a representative of Whelnoan Insurance Company, the following products and services are offered:

– Personal Lines – auto, renters, home, motorcycle, boat/yacht, snowmobile, jet ski

– Commercial Lines – businesses, workers compensation, surety bonds

– Life & Disability Products – term, whole, universal and variable life, long-term care, disability

– Retirement Products – fixed, equity indexed, and variable annuities, mutual funds

– Retirement Plans – IRA, Roth IRA, pension plans, SEP plans, SIMPLE plans

– Life Planning Concepts – mortgage protector, business continuation, buy/sell agreements

– Value Added Products

In the future, we intend to offer the following independent products and services:

– Health Insurance

– Pet Care Insurance

Accounting and Full-Charge Bookkeeping Services are available at either the client’s location or in our offices on a regular, permanent basis with a schedule that accommodates the client’s needs. Rates are based on the needs of the business. These services include:

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– Accounts Payable

– Accounts Receivable

– Credit/Collection

– Payroll

– Reconciliations

– General Ledger Maintenance

Financial Statements

In the future, we intend to offer the following accounting service:

– Income Tax Preparation

Market Analysis Summary

The market area for Quaestor Services will be focused on three counties, Pleasant, Niceburg, and Contented, in Plainstate. These counties are experiencing a combined average growth in population over the 2000 census of 6.45%.

As of 2004, the Whelnoan Insurance Company is the second-largest insurance company in Plainstate with 23% of the market share. The overall market for Quaestor is wide open. This business plan has identified over 1.3 million individuals and businesses as potential clients in the market area.

4.1 Market Segmentation

Quaestor Services has targeted the following market segments:

– State

– Pleasant

– Niceburg

– Contented

– Total

– YR 2004 Estimate-Total Population – 4,814,628, 545,991, 560,265, 284,032, 1,390,288, 28.9%

– YR 2004 Estimate-15 to 24 years old – 528,756, 55,264, 60,509, 19,652, 135,425, 25.6%

– YR 2004 Estimate-24 to 74 years old – 2,224,217, 255,517, 265,626, 136,052, 657,195, 29.5%

– Available Market Share 77% – 2,752,973, 310,781, 326,135, 155,704, 792,620, 28.8%

– YR 2004 Estimate-Total Housing Units – 2,244,113, 237,308, 279,912, 97,555, 614,774, 27.4%

– Available market Share 77% – 1,727,967, 182,727, 215,532, 75,117, 473,376, 27.4%

– Housing Units-Owner Occupied – 1,162,922, 124,254, 113,154, 66,028, 303,436, 26.1%

– Housing Units-Renters – 119,230, 9,502, 13,363, 7,887, 30,752, 25.8%

– YR 2004 Estimate-Small Bus > 20 Emp – 122,452, 94,288, 77.0%

The available market share of 77% represents the market that Whelnoan Insurance has not captured at this time. Although the entire state is an available marketing area, the tri-county area will be the focus marketing area at this time. The total population of the tri-county area available for marketing is 29% of the total available population in Plainstate.

The first and most important market segment is the population broken down by age groups. This can be used for determining the market for personal lines of insurance such as auto and various recreational vehicles, life, and life planning products.

Note that the population of 15 to 24-year-olds has been separated from the available population as a market segment itself for determining the possibility of high-risk auto insurance policies.

The second market segment is housing units broken down by owner-occupied and renters. This can be used for determining the market for personal lines of insurance such as home, townhouses, condominium, renters, and mortgage protection.

The third market segment is small businesses with less than 20 employees. This can be used for determining the market for accounting and bookkeeping services and commercial lines of insurance, including property and casualty, retirement, and workers compensation.

Insurance Agency Business Plan Example

Insurance Agency Business Plan Example

Market Analysis

Year 1 Year 2 Year 3 Year 4 Year 5
Potential Customers Growth CAGR
Focus Population (Ages 15 to 24 years old) 135,425 144,160 153,458 163,356 173,892 6.45%
Focus Population (Ages 25 to 74 years old) 657,195 699,584 744,707 792,741 843,873 6.45%
Small Business (Less than 20 employees) 94,288 99,757 105,543 111,664 118,141 5.80%
Focus Housing Units (Owned) 303,436 339,059 378,865 423,344 473,045 11.74%
Focus Housing Units (Rented) 30,752 34,362 38,396 42,904 47,941 11.74%
Total 1,221,096 1,316,922 1,420,969 1,534,009 1,656,892 7.93%

Strategy and Implementation Summary

– Emphasize value instead of price. Quaestor educates clients on the importance of value.

– Build long term relationships. Quaestor establishes successful partnerships with clients.

– Focus on increasing market share. Quaestor targets personal and business clients.

Competitive Edge

Quaestor’s competitive edge is our strategic alliance with clients. By building long-standing relationships, we help clients understand what we offer and why they need it.

Marketing Strategy

– Emphasize and educate clients on the importance of value.

– Build a relationship business that fosters client retention.

– Develop specific programs for each target market segment.

Sales Strategy

Quaestor’s sales strategy involves person-to-person contacts through referrals, direct mail, telemarketing, and the Internet. A list of potential prospects has already been compiled.

Sales Forecast

The sales forecast includes Accounting Services, Insurance Sales, and Miscellaneous Revenue.

– Accounting Services: The average accounting client requires services at approximately $500 a month.

– Insurance Sales: Forecasted sales are based on actual results and include new sales and renewals.

– Miscellaneous: Subsidies are provided by Whelnoan Insurance to financially support the agency during the development stage.

By following these strategies, Quaestor aims to achieve revenue growth and establish a strong presence in the market.

Insurance Agency Business Plan Example

Insurance Agency Business Plan Example

Sales Forecast

Sales Forecast
Year 1 Year 2 Year 3
Sales
Accounting Services $8,000 $12,000 $18,000
Insurance Sales $17,625 $54,610 $99,310
Miscellaneous $13,875 $41,700 $4,800
Total Sales $39,500 $108,310 $122,110
Direct Cost of Sales Year 1 Year 2 Year 3
Direct Cost of Sales (owner/agent salary) $27,900 $58,500 $65,500
Other Cost of Sales $0 $4,500 $5,400
Subtotal Direct Cost of Sales $27,900 $63,000 $70,900

5.4 Milestones

The table below lists program milestones, dates, and managers in charge. The milestone schedule reflects Quaestor’s emphasis on planning for implementation and measuring these activities. Each milestone is crucial for achieving the financial forecast in this business plan. Here is a brief description of each milestone:

  • 12/01/04-01/31/05-Business Financing – obtain start-up financing necessary for the first year of operation.
  • 01/01/05-03/31/05-Career Agent – the Whelnoan Career Agent Program starts when a new agent completes training, acquires required insurance licenses, and sells 30 policies, including three life insurance policies, in the last 90 days.
  • 01/01/05-02/28/05-Accounting Services (1st Client) – obtain first monthly client for accounting services.
  • 03/01/05-06/30/05-Accounting Services (2nd Client) – obtain second monthly client for accounting services.
  • 04/01/05-09/30/05-Career Agent (6 months) – the first milestone in the Whelnoan Career Agent Program. A Career Agent receives $1,500/monthly for the first six months. At the end of six months, a Career Agent’s production is checked for the number of issued-and-paid policies to determine subsidy level. The required level per financial forecast is 80 property and casualty policies and eight life policies, which allows a subsidy match of commission dollar for dollar on new business commissions up to $2,000/month and a lead subsidy of $100/month.
  • 05/01/05-06/30/05-Business Financing – obtain additional financing for business operations, marketing, and stability during the first year of operation.
  • 11/01/05-12/31/05-Hire Agent – hire and train a new agent for a start date of 1/01/06.
  • 04/01/05-03/31/06-Career Agent (12 months) – the second milestone in the Whelnoan Career Agent Program. At the end of twelve months, a Career Agent’s production is checked for the number of issued-and-paid policies to determine a new subsidy level. The required level per financial forecast is 180 property and casualty policies and 18 life policies, which allows an additional subsidy for staff at $1,500/month and office space of $750/month.
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Whelnoan Insurance Subsidies are available for 24 months only or 4/1/05-03/31/07

  • 04/01/05-03/31/07-Run to Daylight (24 months) – the third milestone in the Whelnoan Career Agent Program. At the end of twenty-four months, a Career Agent’s production is checked for the number of policies in force to determine waiver of one third of the subsidies paid to the agent. To be eligible, an agent must have 400 property and casualty policies and 40 life policies in force.
  • 04/01/05-03/31/08-Run to Daylight (36 months) – the fourth milestone in the Whelnoan Career Agent Program. At the end of thirty-six months, a Career Agent’s production is checked for the number of policies in force to determine waiver of the second third of the subsidies paid to the agent. To be eligible, an agent must have 540 property and casualty policies and 54 life policies in force.
  • 04/01/05-03/31/09-Run to Daylight (48 months) – the fifth milestone in the Whelnoan Career Agent Program. At the end of forty-eight months, a Career Agent’s production is checked for the number of policies in force to determine waiver of the last third of the subsidies paid to the agent. To be eligible, an agent must have 660 property and casualty policies and 66 life policies in force.

Insurance Agency Business Plan Example

Milestones
Milestone Start Date End Date Budget Manager Department
Business Financing 12/1/2004 1/31/2005 $0 Owner Finance
Career Agent 1/1/2005 3/31/2005 $0 Owner Marketing
Accounting Serv-(1st Client) 1/1/2005 2/28/2005 $0 Owner Marketing
Accounting Serv-(2nd Client) 3/1/2005 6/30/2005 $0 Owner Marketing
Career Agent (6 mos) 4/1/2005 9/30/2005 $0 Owner Marketing
Business Financing 5/1/2005 6/30/2005 $0 Owner Finance
Hire Agent 11/1/2005 12/31/2005 $0 Owner Administrative
Career Agent (12 mos) 4/1/2005 3/31/2006 $0 Owner Marketing
Run to Daylight (24 mos) 4/1/2005 3/31/2007 $0 Owner Marketing
Run to Daylight (36 mos) 4/1/2005 3/31/2008 $0 Owner Marketing
Run to Daylight (48 mos) 4/1/2005 3/31/2009 $0 Owner Marketing
Totals $0

Management Summary

Quaestor Services’ management philosophy is based on respect for every client and individual responsibility. The sole employee for the first year will be the owner, Sheila Claflin. In January 2006, the financial forecast supports hiring an insurance agent to help increase business growth.

Quaestor intends to hire individuals who demonstrate the qualities necessary for working in a professional environment and a willingness to pursue further education. We will hire exceptional "people persons" to provide top-notch service.

6.1 Personnel Plan

The Personnel Plan reflects the staffing levels required to establish and grow the customer base needed to achieve projected revenues and profitability.

All insurance sales and business service personnel salaries are considered direct costs of sales and are listed as such in the financials.

Financial Plan

Quaestor Services’ financial plan is based on obtaining a $15,000 loan by January 2005 to cover start-up expenses. An additional $10,000 in financing will be required in July 2005 to ensure business operations, marketing, and stability during the first year. The loan is a seven-year loan with an interest rate of 9.09%. Quaestor will achieve profitability in the second year.

The fiscal year follows a calendar year, from January to December.

7.1 Start-up Funding

Start-up costs amount to $30,000, with $15,000 financed by a direct owner investment. An additional $15,000 financing is being sought for start-up costs before the first six months of operation. In July 2005, an additional $10,000 in financing will be required to ensure business operations, marketing, and stability during the first year of operation.

Start-up Funding
Start-up Expenses to Fund $15,000
Start-up Assets to Fund $13,000
Total Funding Required $28,000
Assets
Non-cash Assets from Start-up $3,000
Cash Requirements from Start-up $10,000
Additional Cash Raised $2,000
Cash Balance on Starting Date $12,000
Total Assets $15,000
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $15,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $15,000
Capital
Planned Investment
Owner $15,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $15,000
Loss at Start-up (Start-up Expenses) ($15,000)
Total Capital $0
Total Capital and Liabilities $15,000
Total Funding $30,000

7.2 Important Assumptions

The key underlying assumptions of Quaestor’s financial plan shown in the following general assumption table are:

  1. We assume access to $30,000 financing to support our financial plan.
  2. We assume our financial progress is based on a conservative sales forecast supported by data received and reviewed by Whelnoan Insurance.
  3. We assume that all sales milestones have been achieved.
General Assumptions
Year 1 Year 2 Year 3
Plan Month 1 2 3
Current Interest Rate 9.09% 9.09% 9.09%
Long-term Interest Rate 9.09% 9.09% 9.09%
Tax Rate 20.00% 20.00% 20.00%
Other 0 0 0

7.3 Break-even Analysis

The following table and chart show our Break-even Analysis. The first year, due to start-up costs and expenses, will not be included in the break-even analysis.

Insurance Agency Business Plan Example

Break-even Analysis:

Monthly Revenue Break-even: $4,997

Assumptions:

– Average Percent Variable Cost: 71%

– Estimated Monthly Fixed Cost: $1,468

Projected Profit and Loss:

Based on realistic sales projections and efficient cost control measures, Quaestor will achieve profitability in the second year. Monthly profitability is first achieved in November 2005, but the initial months reflect a loss due to developing a customer base.

In the second year, sales increased by $68,810 or 174%, resulting in a net profit. Significant changes in the second year include hiring an agent in January 2006, leading to additional costs of $34,500 for direct sales, and setting up an office outside of the owner’s home and Whelnoan Insurance District 15 office, resulting in additional operating costs of $7,120.

In the third year, sales increased by $13,800 or 13%, leading to an increase in the bottom line. However, Whelnoan Insurance subsidies are no longer available, resulting in a decrease in Miscellaneous revenue of $36,800 compared to the previous year. There are no significant changes in the third year of operations.

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Insurance Agency Business Plan Example

Insurance Agency Business Plan Example

Insurance Agency Business Plan Example

Insurance Agency Business Plan Example

Pro Forma Profit and Loss

Pro Forma Profit and Loss
Year 1 Year 2 Year 3
Sales $39,500 $108,310 $122,110
Direct Cost of Sales $27,900 $63,000 $70,900
Other Costs of Sales $0 $0 $0
Total Cost of Sales $27,900 $63,000 $70,900
Gross Margin $11,600 $45,310 $51,210
Gross Margin % 29.37% 41.83% 41.94%
Expenses
Payroll $0 $0 $0
Marketing/Promotion $4,200 $6,600 $7,200
Depreciation $1,020 $2,520 $3,180
Employee Benefits $2,250 $3,000 $3,000
Rent $3,000 $6,000 $6,000
Utilities $600 $1,500 $1,500
Telephone/DSL/Cell $3,000 $4,050 $4,200
Office Supplies $900 $1,650 $2,150
Professional Services $250 $500 $500
Training/Licensing $290 $250 $0
Insurance $900 $1,200 $1,200
Payroll Taxes $0 $0 $0
Miscellaneous $1,200 $1,200 $1,200
Total Operating Expenses $17,610 $28,470 $30,130
Profit Before Interest and Taxes ($6,010) $16,840 $21,080
EBITDA ($4,990) $19,360 $24,260
Interest Expense $1,719 $1,899 $1,572
Taxes Incurred $0 $2,988 $3,902
Net Profit ($7,729) $11,953 $15,607
Net Profit/Sales -19.57% 11.04% 12.78%

Projected Cash Flow

Due to Quaestor being a new start-up, the cash flow for FY2005 is somewhat exaggerated by the instant influx of new capital. Subsequent years, however, show a healthy growth in cash flow, mainly due to the 84-month repayment of the start-up loan and increased sales.

Insurance Agency Business Plan Example

Pro Forma Cash Flow

Year 1 Year 2 Year 3

Cash Received

Cash from Operations

Cash Sales $33,575 $92,064 $103,794

Subtotal Cash from Operations $38,846 $107,171 $121,882

Additional Cash Received

Sales Tax, VAT, HST/GST Received $0 $0 $0

New Current Borrowing $0 $0 $0

New Other Liabilities (interest-free) $0 $0 $0

New Long-term Liabilities $10,000 $0 $0

Sales of Other Current Assets $0 $0 $0

Sales of Long-term Assets $0 $0 $0

New Investment Received $0 $0 $0

Subtotal Cash Received $48,846 $107,171 $121,882

Expenditures

Year 1 Year 2 Year 3

Expenditures from Operations

Cash Spending $0 $0 $0

Bill Payments $42,322 $90,012 $102,544

Subtotal Spent on Operations $42,322 $90,012 $102,544

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out $0 $0 $0

Principal Repayment of Current Borrowing $0 $0 $0

Other Liabilities Principal Repayment $0 $0 $0

Long-term Liabilities Principal Repayment $2,387 $3,440 $3,766

Purchase Other Current Assets $0 $0 $0

Purchase Long-term Assets $0 $7,500 $2,000

Dividends $0 $0 $0

Subtotal Cash Spent $44,709 $100,952 $108,310

Net Cash Flow $4,137 $6,219 $13,572

Cash Balance $16,137 $22,356 $35,928

7.6 Projected Balance Sheet

The table below presents the balance sheet for Quaestor Services. This table reflects a positive cash position throughout the period of this financial plan. The negative net worth is created in the first year due to the start-up costs showing as a negative retained earnings. As the balance sheet shows, Quaestor will not have any difficulty meeting their debt obligations as long as the conservative revenue projections are met.

Pro Forma Balance Sheet

Year 1 Year 2 Year 3

Assets

Current Assets

Cash $16,137 $22,356 $35,928

Accounts Receivable $654 $1,793 $2,022

Other Current Assets $0 $0 $0

Total Current Assets $16,791 $24,149 $37,950

Long-term Assets

Long-term Assets $3,000 $10,500 $12,500

Accumulated Depreciation $1,020 $3,540 $6,720

Total Long-term Assets $1,980 $6,960 $5,780

Total Assets $18,771 $31,109 $43,730

Liabilities and Capital

Year 1 Year 2 Year 3

Current Liabilities

Accounts Payable $3,887 $7,713 $8,492

Current Borrowing $0 $0 $0

Other Current Liabilities $0 $0 $0

Subtotal Current Liabilities $3,887 $7,713 $8,492

Long-term Liabilities $22,613 $19,173 $15,407

Total Liabilities $26,500 $26,886 $23,899

Paid-in Capital $15,000 $15,000 $15,000

Retained Earnings ($15,000) ($22,729) ($10,776)

Earnings ($7,729) $11,953 $15,607

Total Capital ($7,729) $4,224 $19,830

Total Liabilities and Capital $18,771 $31,109 $43,730

Net Worth ($7,729) $4,224 $19,830

7.7 Business Ratios

The table below presents common business ratios as a reference. Industry Profile comparisons are for Standard Industrial Classification code 6411.0000, Insurance Agents, Brokers and Service as the majority of our revenue comes from insurance sales. However, since the combined business of accounting/bookkeeping services and insurance sales does not fall underneath any predefined Industry dataset, the Industry ratios are not wholly accurate nor representative for Quaestor Services.

Ratio Analysis

Year 1 Year 2 Year 3 Industry Profile

Sales Growth 0.00% 174.20% 12.74% 8.23%

Percent of Total Assets

Accounts Receivable 3.48% 5.76% 4.62% 24.10%

Other Current Assets 0.00% 0.00% 0.00% 69.87%

Total Current Assets 89.45% 77.63% 86.78% 94.00%

Long-term Assets

Long-term Assets 10.55% 22.37% 13.22% 6.00%

Total Assets 100.00% 100.00% 100.00% 100.00%

Current Liabilities

Accounts Payable 20.71% 24.79% 19.42% 36.78%

Long-term Liabilities 120.47% 61.63% 35.23% 9.58%

Total Liabilities 141.17% 86.42% 54.65% 46.36%

Net Worth -41.17% 13.58% 45.35% 53.64%

Percent of Sales

Sales 100.00% 100.00% 100.00% 100.00%

Gross Margin 29.37% 41.83% 41.94% 100.00%

Selling, General & Administrative Expenses 48.93% 30.80% 29.16% 74.71%

Advertising Expenses 0.00% 0.00% 0.00% 0.48%

Profit Before Interest and Taxes -15.22% 15.55% 17.26% 5.37%

Main Ratios

Current 4.32 3.13 4.47 1.82

Quick 4.32 3.13 4.47 1.62

Total Debt to Total Assets 141.17% 86.42% 54.65% 51.49%

Pre-tax Return on Net Worth 100.00% 353.74% 98.38% 7.25%

Pre-tax Return on Assets -41.17% 48.03% 44.61% 14.94%

Additional Ratios

Year 1 Year 2 Year 3

Net Profit Margin -19.57% 11.04% 12.78% n.a

Return on Equity 0.00% 282.99% 78.70% n.a

Activity Ratios

Accounts Receivable Turnover 9.06 9.06 9.06 n.a

Collection Days 29 27 38 n.a

Accounts Payable Turnover 11.89 12.17 12.17 n.a

Payment Days 27 23 29 n.a

Total Asset Turnover 2.10 3.48 2.79 n.a

Debt Ratios

Debt to Net Worth 0.00 6.37 1.21 n.a

Current Liab. to Liab. 0.15 0.29 0.36 n.a

Liquidity Ratios

Net Working Capital $12,904 $16,437 $29,457 n.a

Interest Coverage -3.50 8.87 13.41 n.a

Additional Ratios

Year 1 Year 2 Year 3

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