FINANCIAL PLAN
FINANCIAL PLAN
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START-UP COST
START-UP COST
Before I start, I will list all initial expenses required to launch my business, such as
Cost of the food cart
Initial inventory (ingredients like meat, wrappers, and seasonings)
Equipment (steamer, utensils, storage containers)
Marketing materials (signage, flyers, social media ads)
Miscellaneous costs (permits, licenses, uniforms)
By tracking start-up costs, I can manage my resources effectively and make informed decisions, helping me set realistic sales goals to cover costs and earn a profit.
SALES FORECAST
SALES FORECAST
I will also utilize sales forecasting to briefly estimate how much I am likely to earn after launching my business. This accounting technique allows me to estimate how many people are expected to buy the product, calculate net sales after deducting the cost of goods sold and operational expenses, and make an overview for how mech we are going to earn after a month or years.
Based on the estimation, I expected to get P222,000 net sales during the 1st year of implementing our business, and that amount will continue to grow during the following years. I assumed that our sales will continue to grow by 10% each year that passed, therefore getting us P295,482 of net sales in the 4th year of our business.
MERCHANDISE ACCOUNTING
MERCHANDISE ACCOUNTING
During and after the implementation of this business, I will utilize simple merchandise accounting as it is a best and straightforward method used to track the costs and revenues of buying and selling goods. It focuses on recording the purchase price of merchandise, the selling price to customers, and the resulting profit. This approach is ideal for small businesses as it simplifies financial management by avoiding complex calculations, making it easier to monitor inventory levels, control costs, and evaluate profitability.
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