Insurance Company Business Plan

Acme Insurance plans to increase gross sales by 10% and profit by 15% by focusing on its strengths, client base, and new value priced products.

Our Key Success Factors for the next year are:

  • Identify "Target Markets."
  • Institute our Property inspection program.
  • Begin our "Insurance Partners" program.
  • Develop a profitable property program.
  • Provide small businesses with an affordable basic business package.

Acme Insurance has been profitable, but recently we have had declining market share that must be addressed. Therefore our goals are:

  • To re-establish Acme Insurance as the market leader in quality and value-priced insurance products in Smalltown District.
  • Establish good working relationships with our present insurance markets by meeting with their decision makers and plotting a mutual plan for success. Get commitments for support and products that we can market in our trading area starting April 1st of Year 1.
  • Investigate new markets that meet our marketing criteria by committing to small rural brokerage; providing products suitable to our economic and social climate; and plans for the upload and download of insurance policies.
  • Provide sales incentives to staff to meet sales goals of 10%.
  • Complete inspection of all Pilot homeowners within one month before renewal date.
  • Formulate plans to acquire another brokerage.

Acme Insurance is dedicated to providing insurance products that provide quality protection with value pricing. We wish to establish a successful partnership with our clients, staff members, and insurance companies, that respect the interests and goals of each party.

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.

In order to implement our strategic goals, we will focus on developing the following tools.

  1. Knowledgeable, friendly staff that can empathize with our consumers needs and circumstances, especially in handling a loss.
  2. Policies that meet or exceed the expectations of our clients, and that are affordable, available, and understandable.
  3. Policies and endorsements delivered on time with minimal errors.
  4. A commitment to an annual insurance review for all of our clients. A phone call is more than any direct mass marketer offers. We believe personal contact and service is the cornerstone of our success.

Acme Insurance primarily markets and services Personal Lines Insurance. Its customers are mostly rural, lower income families or long time resident senior citizens who demand value priced insurance premiums in keeping with their lower and fixed incomes.

We also provide insurance to small businesses, mostly family-run seasonal operations primarily focused on the tourist trade.

Acme Insurance is a privately incorporated company in the Smalltown district and is licensed to transact both Life and General Insurance. The shares are held equally by John Smith and Peter Smith.

Our Insurance and Real Estate brokerage operates from two central locations. Our modern attractive office in Smalltown, at 178 Small Street, is located in a small plaza which is owned by the principals of our brokerage. It comprises 2,000 square feet.

In Nexttown, we operate from an 800 square foot, one-story brick veneer building overlooking Lake Small, which again is owned by the principals of our firm. The office is strategically located across from the Post Office.

We have stressed to our insureds the importance of good communication between the broker and client to ensure proper coverage is in place. As our clients become better informed about insurance, there has been a tremendous increase in clients wishing in-depth discussions about their policy coverage and how they can get the most value for their insurance dollar.

Our company’s strength lies in the quality and depth of our products and staff. Our offices are open six days a week. Because of our larger staff, we are able to service our clients even when a client’s broker is busy or out of the office on inspections.

Our staff has specialists in commercial insurance that can properly service and underwrite local business. We also have some quality commercial markets unavailable to our competition.

Our Real Estate division helps with market value and replacement cost analysis when required.

The past few years have seen tremendous upheaval in the insurance industry. The number of players has decreased in both the broker and company communities. The recession has curtailed insureds from properly maintaining their homes and automobiles, and insurance fraud has become a major issue for the entire insurance industry.

Brokers are concerned that in spite of commission reductions, quotas, contract cancellations, and refusal to write new auto business by some markets, they may find themselves in competition with some of the traditional broker distribution companies that are setting up direct marketing facilities and branches. The banks have announced they will open stand-alone insurance offices to retail insurance.

In spite of the above, we believe that the independent broker will survive. We are more automated than most service industries. We are close to the customer, regardless of some insurance companies’ attempts to sever the traditional broker-client relationship. Our clients, in most cases, still do not care or know which company we place them with. They trust our judgement in selecting the proper coverage and company to place them in.

Upload/download capabilities are in many brokers’ offices, including our own. This will cut costs, improve efficiency and accuracy, and help us meet the competition from banks and direct writers. Companies that truly value and trust the broker distribution system will align themselves with professional brokers and grant more underwriting authority similar to Lloyds.

Among our main competition, we have local independent brokers, Agents (such as Co-operators), Mass Markets, Mass merchandise programs heavily advertised over the radio such as "Gray Power," and Group Plans.

We have depended on a small advertisement in our local newspaper, listings in the Yellow Pages, and word of mouth. However, with the changes in the market today, we must investigate alternate ways to put our name in front of the public. We have set out several criteria for our marketing campaign that include:

  • All advertising has to emphasize our differentiation point rather than price.
  • We must sell the company, not the product. Our clients still identify with the broker, not the insurance company.
  • We must improve and increase our contacts with our clients.
  • Make contacts and support senior citizen groups and cottage associations.
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Based on these changes in our goals, outlook, and company culture, we anticipate that we will be able to increase revenues substantially by year 3 of the plan and increase net profit handsomely. The company does not anticipate any cash flow problems.

1.1 Mission

Acme Insurance Inc. is dedicated to providing insurance products that provide quality protection with value pricing. We wish to establish a successful partnership with our clients, our staff members, and our insurance companies, that respect the interests and goals of each party.

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.

1.2 Objectives

  1. To re-establish Acme Insurance Inc. as the market leader in quality and value-priced insurance products in Smalltown District.
  2. Establish good working relationships with our present insurance markets by meeting with their decision makers and plotting a mutual plan for success. Get commitments for support and products that we can market in our trading area starting April 1st of Year 1.
  3. Investigate new markets that meet our marketing criteria by committing to small rural brokerage; providing products suitable to our economic and social climate; and plans for the upload and download of insurance policies.
  4. Provide sales incentives to staff to meet sales goals of 10%.
  5. Complete inspection of all Pilot homeowners within one month before renewal date.
  6. Formulate plans to acquire another brokerage.

1.3 Keys to Success

We believe the keys to success in a small town insurance business are:

  1. Knowledgeable, friendly staff that can empathize with our consumers needs and circumstances, especially in handling a loss.
  2. Policies that meet or exceed the expectations of our clients, and that are affordable, available, and understandable.
  3. Policies and endorsements delivered on time with minimal errors.
  4. A commitment to an annual insurance review for all of our clients. A phone call is more than any direct mass marketer offers. We believe personal contact and service is the cornerstone of our success.

Insurance Company Business Plan Example

Company Summary

Acme Insurance primarily markets and services Personal Lines Insurance. Its customers are mainly rural, lower income families or long-time resident senior citizens who seek value-priced insurance premiums in line with their lower and fixed incomes.

We also provide insurance to small businesses, predominantly family-run seasonal operations focused on the tourist trade.

2.1 Company Ownership

Acme Insurance is a privately incorporated company in the Smalltown district and is licensed to transact both Life and General Insurance. The shares are equally held by John Smith and Peter Smith.

2.2 Company History

Acme Insurance was founded as a sole proprietorship in 1938 and was owned and operated by the founder Stan Smith. He initially ran the operation from his home but relocated to the business section of Smalltown as the business grew.

In 1972, the company constructed a new office building in the main business area and over the last 15 years has acquired four other brokerages, one of which led to the establishment of our branch office in Nexttown.

In 1988, a new company “Acme Insurance Inc.” was formed, which purchased the insurance business from “Acme Insurance Limited.” All shares in the new company are owned by John S. Smith and Peter Smith.

Today, the fourth generation of Smiths, Stephen and Jason Smith, are employed in the firm. We are also pleased to report that our founder, Stan Smith, is still present in our office every day, and although he is still licensed, he is now primarily involved as a “goodwill ambassador.”

Insurance Company Business Plan Example

Past Performance
1993 1994 1995
Sales $644,023 $660,593 $622,309
Gross Margin $144,174 $115,204 $120,525
Gross Margin % 22.39% 17.44% 19.37%
Operating Expenses $597,440 $604,559 $560,266
Collection Period (days) 0 0 0
Balance Sheet
1993 1994 1995
Current Assets
Cash $0 $0 $402,640
Accounts Receivable $0 $0 $255,940
Other Current Assets $0 $0 $309,137
Total Current Assets $0 $0 $967,717
Long-term Assets
Long-term Assets $0 $0 $465,575
Accumulated Depreciation $0 $0 $181,651
Total Long-term Assets $0 $0 $283,924
Total Assets $0 $0 $1,251,641
Current Liabilities
Accounts Payable $0 $0 $336,000
Current Borrowing $0 $0 $0
Other Current Liabilities (interest free) $0 $0 $100,362
Total Current Liabilities $0 $0 $436,362
Long-term Liabilities $0 $0 $452,036
Total Liabilities $0 $0 $888,398
Paid-in Capital $0 $0 $100
Retained Earnings $0 $0 $88,096
Earnings $0 $0 $275,047
Total Capital $0 $0 $363,243
Total Capital and Liabilities $0 $0 $1,251,641
Other Inputs
Payment Days 0 0 60
Sales on Credit $0 $0 $0
Receivables Turnover 0.00 0.00 0.00

2.3 Company Locations and Facilities

Our Insurance and Real Estate brokerage operates from two central locations. Our modern attractive office in Smalltown, at 178 Small Street, is located in a small plaza owned by the principals of our brokerage. It comprises 2,000 square feet.

In Nexttown, we operate from an 800 square foot, one-story brick veneer building overlooking Lake Small, also owned by the principals of our firm. The office is strategically located across from the Post Office.

Our Smalltown operation has its own private parking lot for clients and staff. A second story was recently added to our office to allow room for expansion. It is currently used for training, staff meetings, and conferences.

Services

Acme Insurance specializes in providing professional sales and service for home, automobile, and business insurance in the Smalltown District. With over 50 years of experience, we help our clients find the best coverage at the right price. In the event of a claim, we provide fast, speedy claim settlement and offer help and counsel to our clients.

3.1 Service Description

Acme Insurance issues binders and new policies, endorsements, and processes renewals. We stress the importance of good communication between the broker and client to ensure proper coverage is in place. We’ve noticed an increase in in-depth discussions with clients about their policy coverage and maximizing the value for their insurance dollar.

In addition to serving our insured clients, we also provide insurance services to non-clients such as lawyers and mortgagees to ensure proper coverage for home, business, and auto purchases.

3.2 Competitive Comparison

Unlike our competition, our offices are open six days a week and have a larger staff to service clients even when their broker is unavailable. We have specialists in commercial insurance and access to quality commercial markets not available to our competitors.

As brokers, not agents, we have access to a range of standard and specialty markets. Our Real Estate division assists with market value and replacement cost analysis.

3.3 Sales Literature

We have produced a pamphlet titled "Insurance Partners" which emphasizes the importance of a successful insurance partnership between the client, broker, and company. The client’s responsibility to maintain their property and prevent claims is highlighted.

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We also use boilerplate letters to explain unique features or limitations in the contracts and promote other products and services.

3.4 Fulfillment

Our experienced principals and staff ensure the fulfillment of our clients’ needs. We have access to ample resources to address unusual situations and find proper coverage. Our staff is well-trained and certified, and we have Errors and Omissions Insurance to further protect our clients.

When specialized expertise is required, such as evaluating the safety of solid fuel heating devices, we ensure our staff has the necessary certifications.

3.5 Technology

We have been fully computerized since 1982, with offices and some of our staff connected to our main computer server located in Smalltown. We have recently upgraded our computer system to enhance communication with our companies and improve efficiency.

3.6 Future Services

We plan to strengthen our life insurance division and establish a substandard property market. We aim to provide profitable services with proper underwriting and controls in place.

Market Analysis Summary

Our target market consists of seniors, lower-income young families, and small family-run businesses. We have a relatively high number of seniors and a population that relies on government assistance. Mass merchandising programs have not yet had a significant impact in our area, and we anticipate smaller brokers in the rural business market may face financial difficulties. Our focus is on seniors, family businesses, and middle-income earners.

We exercise caution in pursuing business from lower-income prospects and out-of-area clients who may present payment or claim problems. We pride ourselves on our ability to properly assess clients’ needs and place them with the appropriate markets.

Insurance Company Business Plan Example

Market Analysis:

Potential Customers

_____________________________________________________________

| 1996 | 1997 | 1998 | 1999 | 2000

————————————————————-

Ages 0 to 14 | 2,550 | 2,601 | 2,653 | 2,706 | 2,760

Ages 15 to 44 | 4,760 | 4,855 | 4,952 | 5,051 | 5,152

Ages 45 to 64 | 2,885 | 3,029 | 3,180 | 3,339 | 3,506

Ages 65 to 74 | 1,280 | 1,344 | 1,411 | 1,482 | 1,556

Other | 1,000 | 1,020 | 1,040 | 1,061 | 1,082

Total | 12,475 |12,849 |13,236 |13,639 |14,056

Service Business Analysis:

The insurance industry has seen significant changes in recent years. The number of players in the broker and company communities has decreased. The automobile product has become unaffordable, unavailable, and difficult to understand. The recession has prevented insureds from properly maintaining their homes and cars. Insurance fraud has become a major issue.

Our relationship with companies has been strained. Despite commission reductions and quotas, brokers now face competition from traditional broker distribution companies that are setting up direct marketing facilities. Banks are also opening standalone insurance offices.

However, we believe that independent brokers will survive. We are more automated than most service industries. We have a close relationship with our clients, who trust our judgment in selecting the right coverage and company.

The new federal government is close to adopting a new automobile contract that will make it more affordable and understandable. This will entice companies to seek new sales and offer more contracts.

Many brokers offices, including ours, have upload/download capabilities, cutting costs and improving efficiency. Companies that value and trust the broker distribution system will align themselves with professional brokers and grant more underwriting authority.

Main Competitors:

Local independent brokers: Cal Roberts, Patrick C. Johnson, Rob Champlain

– Strengths: alternate markets, low prices, write wood stoves, offer discounts and underwriting terms

– Weakness: smaller, one-man operations without financial resources to impact the marketplace

Agents (such as Co-operators)

– Strengths: large advertising budget, competitively priced products

– Weakness: small operation, staff lacks knowledge and aggression

Mass Markets

– Strengths: large advertising budget, competitive prices

– Weakness: not well-known to our clients

Our own Companies

– Strengths: known to our clients, competitively priced

– Weakness: unknown to our insureds, people skills may be lacking

Mass merchandise programs heavily advertised over the radio

– Strengths: price

– Weakness: untried, unknown quantity

Group Plans (teachers, public employees)

– Strength: group pricing

– Weakness: limited availability for our brokerage

Competition and Buying Patterns:

The main source of income for our brokerage is generated by automobile premiums because they are relatively higher priced to insure than property, and because automobile insurance is mandatory in the region.

Our success depends on convincing our clients that price is not the only criteria for the purchase of insurance. Our advertising emphasizes our service, availability, and community involvement.

Still, price is important and we must ensure our insurance products are available and affordable. It is our job to ensure the client understands their coverage options and the trade-off between coverage and price.

Business Participants:

– Cal Roberts Insurance, Markets: Royal, Dominion of Canada

– Patrick C. Johnson, Markets: General Accident, Canadian Surety

– Rob Champlain, Markets: Farmer’s Mutual, National Frontier

– Co-Operators

– Silver Power, Markets: Trafalger

– Con-struct Direct

Distributing a Service:

Our trading area is rural. Premiums are relatively low and we are not subject to large brokerages or specialty direct writers mounting aggressive advertising campaigns. There are few group plans providing insurance coverage. Smalltown has two independent brokers and a Co-Operators agent, Nexttown has two independent brokers, and Southtown has one. Some locals are starting to turn to specialty retailers who advertise on radio and television. The role of banks in the industry is still uncertain.

Strategy and Implementation Summary:

1. Emphasize service and ongoing support to enhance client retention.

2. Build long-term relationships with customers.

3. Focus on selected target markets instead of allowing potential customers to choose us.

4. Target small, non-franchise businesses that do not have access to group insurance plans.

5. Consider acquiring other brokerages in our area.

Marketing Strategy:

1. Emphasize service and support in all advertising efforts.

2. Build a partnership business based on account selling.

3. Focus on senior, claims-free personal lines business and profitable small family businesses.

4. Target small, non-franchise business without access to group insurance plans.

5. Explore opportunities for acquiring other brokerages in our area.

Promotion Strategy:

– Develop a message that emphasizes the need for professional insurance coverage.

– Sell the company, not just the product.

– Improve and increase contact with clients through newsletters and regular communication.

– Be cautious about attracting clients from outside the area.

– Support senior citizen groups and cottage associations.

– Identify sports and hobby groups involving seniors and cottagers.

Distribution Strategy:

1. Seniors: Give special attention to this market in our advertising and support senior programs in our area.

2. Insurance Partners: Stress the importance of insureds taking responsibility for controlling claims.

3. Business Partners: Encourage insureds to install alarm systems and maintain their properties to control claims.

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Positioning Statement:

Our target market is Smalltown District. The ideal client is claims-free, aged between 45-75, owns a home and car, and is debt-free. We also target profitable, well-run small businesses with good claims experience.

Pricing Strategy:

Ensure that our price and service are perceived as good value by our customers. Offer convenient payment options and target profitable niche markets.

Sales Strategy:

Emphasize the benefit of dealing with local professionals who know the community and understand our clients’ needs. Offer competitive prices and discounts for claims-free seniors.

Sales Programs:

Consider implementing sales incentives for our producers to encourage profitable new business and client retention.

Sales Forecast:

We project moderate and steady sales growth for the coming year.

Note: The table and related charts show our present sales forecast.

Insurance Company Business Plan Example

Insurance Company Business Plan Example

Sales Forecast

[table]

[tr]

[td colspan="4"] Sales Forecast

[/td]

[/tr]

[tr]

[td] 1996 [/td]

[td] 1997 [/td]

[td] 1998 [/td]

[/tr]

[tr]

[td] Sales [/td]

[td] $677,600 [/td]

[td] $700,000 [/td]

[td] $750,000 [/td]

[/tr]

[tr]

[td] Other [/td]

[td] $0 [/td]

[td] $0 [/td]

[td] $0 [/td]

[/tr]

[tr]

[td] Total Sales [/td]

[td] $677,600 [/td]

[td] $700,000 [/td]

[td] $750,000 [/td]

[/tr]

[tr]

[td] Direct Cost of Sales [/td]

[td] 1996 [/td]

[td] 1997 [/td]

[td] 1998 [/td]

[/tr]

[tr]

[td] Sales [/td]

[td] $0 [/td]

[td] $0 [/td]

[td] $0 [/td]

[/tr]

[tr]

[td] Other [/td]

[td] $0 [/td]

[td] $0 [/td]

[td] $0 [/td]

[/tr]

[tr]

[td] Subtotal Direct Cost of Sales [/td]

[td] $0 [/td]

[td] $0 [/td]

[td] $0 [/td]

[/tr]

[/table]

5.4 Strategic Alliances

Some of our present companies have surveyed us for co-operative advertising, but we have not committed to any programs at present.

5.5 Service and Support

Acme Insurance is a group of small brokerages housed under one name and location. Our producers are each responsible for a book of business. They sell, service, handle claims, and manage accounts receivable. Over the years, we have found that our clients prefer to deal with one broker who understands their specific needs.

5.6 Milestones

We have listed our plan milestones below.

Insurance Company Business Plan Example

Milestones:

Milestone Start Date End Date Budget Manager Department

Select Seniors 1/1/1996 12/31/1996 $0 P. Smith Sales

Broker Acquisition Course 4/17/1996 9/9/1996 $250 P. Smith Finance

Company Contacts 1/3/1996 12/31/1996 $1,000 P. Smith Marketing

Install Release 74 4/8/1996 7/8/1996 $0 J. Smith Staff

Release 74 Training 4/2/1996 8/2/1996 $300 Staff Staff

Jason – CAIB Course 2 5/4/1996 6/24/1996 $395 J. Smith Staff

Upload/download Training 1/7/1996 3/1/1996 $1,000 J. Smith Staff

Stephen – Remove Restriction 1/9/1996 1/10/1996 $400 Staff Staff

Mandatory Staff – 3hr 1/10/1996 1/10/1996 $1,000 P. Smith Management

Totals $4,345

5.7 Service and Support

Acme Insurance comprises multiple small brokerages under one name and location. Each producer manages a book of business, handling sales, service, claims, and accounts receivable. Over the years, we have discovered that our clients prefer working with a single broker who understands their specific needs.

Management Summary

Acme Insurance is committed to hiring new staff only when necessary due to vacancies or growth. Our team members have an average tenure of over 15 years, fostering long-lasting business relationships between our clients and brokers.

6.1 Organizational Structure

Rather than organizing our brokerage by service, we allocate brokers to specific clients. This approach ensures that each broker is responsible for renewals, servicing, collections, and claims. Clients appreciate having a dedicated broker, especially during claim situations, as it ensures that their interests are properly represented.

Appendix

Sales Forecast

Sales Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Sales $54,000 $28,500 $44,500 $45,000 $57,000 $65,000 $67,000 $65,000 $70,000 $80,000 $55,000 $46,600

Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Sales $54,000 $28,500 $44,500 $45,000 $57,000 $65,000 $67,000 $65,000 $70,000 $80,000 $55,000 $46,600

Direct Cost of Sales

Sales Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Personnel Plan

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Name or Title or Group $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Name or Title or Group $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Name or Title or Group $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total People 0 0 0 0 0 0 0 0 0 0 0 0

Total Payroll $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Pro Forma Profit and Loss

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Sales $54,000 $28,500 $44,500 $45,000 $57,000 $65,000 $67,000 $65,000 $70,000 $80,000 $55,000 $46,600

Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $

Pro Forma Cash Flow:

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cash Sales $13,500 $7,125 $11,125 $11,250 $14,250 $16,250 $16,750 $16,250 $17,500 $20,000 $13,750 $11,650
Cash from Receivables $127,970 $129,320 $39,863 $21,775 $33,388 $34,050 $42,950 $48,800 $50,200 $48,875 $52,750 $59,375
Subtotal Cash from Operations $141,470 $136,445 $50,988 $33,025 $47,638 $50,300 $59,700 $65,050 $67,700 $68,875 $66,500 $71,025
Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $141,470 $136,445 $50,988 $33,025 $47,638 $50,300 $59,700 $65,050 $67,700 $68,875 $66,500 $71,025
Net Cash Flow ($195,158) $117,863 $39,641 $17,033 $31,381 $30,483 $37,543 $42,333 $45,513 $45,138 $40,113 $51,972
Cash Balance $207,482 $325,345 $364,986 $382,019 $413,400 $443,883 $481,426 $523,759 $569,272 $614,410 $654,523 $706,495

Pro Forma Balance Sheet:

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cash $402,640 $207,482 $325,345 $364,986 $382,019 $413,400 $443,883 $481,426 $523,759 $569,272 $614,410 $654,523 $706,495
Accounts Receivable $255,940 $168,470 $60,525 $54,038 $66,013 $75,375 $90,075 $97,375 $97,325 $99,625 $110,750 $99,250 $74,825
Other Current Assets $309,137 $309,137 $309,137 $309,137 $309,137 $309,137 $309,137 $309,137 $309,137 $309,137 $309,137 $309,137 $309,137
Total Current Assets $967,717 $685,089 $695,007 $728,160 $757,168 $797,912 $843,095 $887,938 $930,221 $978,034 $1,034,297 $1,062,910 $1,090,457
Long-term Assets $465,575 $465,575 $465,575 $465,575 $465,575 $465,575 $465,575 $465,575 $465,575 $465,575 $465,575 $465,575 $465,575
Accumulated Depreciation $181,651 $181,651 $181,651 $181,651 $181,651 $181,651 $181,651 $181,651 $181,651 $181,651 $181,651 $181,651 $181,651
Total Long-term Assets $283,924 $283,924 $283,924 $283,924 $283,924 $283,924 $283,924 $283,924 $283,924 $283,924 $283,924 $283,924 $283,924
Total Assets $1,251,641 $969,013 $978,931 $1,012,084 $1,041,092 $1,081,836 $1,127,019 $1,171,862 $1,214,145 $1,261,958 $1,318,221 $1,346,834 $1,374,381
Current Liabilities $436,362 $118,571 $111,176 $115,816 $115,961 $119,441 $121,761 $122,341 $121,761 $123,211 $126,111 $118,861 $116,425
Long-term Liabilities $452,036 $452,036 $452,036 $452,036 $452,036 $452,036 $452,036 $452,036 $452,036 $452,036 $452,036 $452,036 $452,036
Total Liabilities $888,398 $570,607 $563,212 $567,852 $567,997 $571,477 $573,797 $574,377 $573,797 $575,247 $578,147

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