Lumière Nail Bar Business Plan — Appendix C: Funding, Debt and Working Capital Schedules
Sources and uses, the term loan schedule, the opening balance sheet and the working capital build across the projection.
Appendix C: Funding, Debt and Working Capital Schedules
Jump to section
- Overview & contents
- i. Important Notice and Basis of Preparation
- 1. Executive Summary
- 2. Market and Positioning
- 3. How a Salon Actually Makes Money
- 4. The Membership Programme
- 5. SWOT and Competitive Position
- 6. Operations and the Capacity Build
- 7. Compliance and Standards
- 8. Management and Team
- 9. Financial Plan
- 10. Break-Even and Debt Service
- 11. Investment Analysis
- 12. Sensitivity and Scenario Analysis
- 13. Risk Analysis
- 14. Implementation Roadmap
- 15. Key Performance Indicators
- 16. Key Assumptions
- 17. Conclusion and Recommendation
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Capital and Capacity Schedules
- C. Appendix C: Funding, Debt and Working Capital Schedules
- D. Appendix D: Risk Register
- E. Appendix E: Glossary
- C.1 Sources and uses
- C.2 Term debt schedule
- C.3 Working capital and deferred income
- C.4 Opening balance sheet at day zero
C.1 Sources and uses
|
R |
Note |
|
|---|---|---|
|
Promoter and investor equity |
2 800 000 |
68% of capital deployed |
|
Term debt |
1 300 000 |
Five years at 13.75% with a twelve-month capital moratorium |
|
Total sources |
4 100 000 |
|
|
Fit-out, equipment and launch |
(3 810 000) |
Appendix B.1 |
|
Working capital and pre-opening costs |
(290 000) |
Staff, rent and stock ahead of trading |
|
Total uses |
(4 100 000) |
Sources equal the requirement exactly |
C.2 Term debt schedule
|
R |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Opening balance |
1 300 000 |
1 300 000 |
1 034 868 |
733 280 |
390 224 |
|
Interest at 13.75% |
178 750 |
178 750 |
142 294 |
100 826 |
53 656 |
|
Capital repaid |
— (moratorium) |
265 132 |
301 588 |
343 056 |
390 224 |
|
Total debt service |
178 750 |
443 882 |
443 882 |
443 882 |
443 880 |
|
Closing balance |
1 300 000 |
1 034 868 |
733 280 |
390 224 |
0 |
|
of which current portion |
265 132 |
301 588 |
343 056 |
390 224 |
0 |
|
of which non-current portion |
1 034 868 |
733 280 |
390 224 |
0 |
0 |
|
EBITDA |
(843 000) |
708 000 |
1 367 000 |
2 907 000 |
3 259 000 |
|
Debt service cover |
n/a |
1.60x |
3.08x |
6.55x |
7.34x |
|
Gearing |
50.3% |
44.9% |
27.4% |
9.3% |
0.0% |
C.3 Working capital and deferred income
|
R |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Retail and consumable stock |
36 159 |
72 098 |
100 075 |
147 573 |
163 251 |
|
Trade receivables at 4 days |
46 268 |
83 573 |
101 984 |
138 553 |
149 151 |
|
Trade payables at 30 days |
(416 301) |
(568 685) |
(652 521) |
(800 219) |
(850 767) |
|
Deferred prepaid income |
(70 000) |
(172 000) |
(288 000) |
(378 000) |
(442 000) |
|
Net working capital |
(403 874) |
(585 014) |
(738 462) |
(892 093) |
(980 365) |
|
Movement in the year |
403 874 |
181 140 |
153 448 |
153 631 |
88 272 |
C.4 Opening balance sheet at day zero
|
R |
Note |
|
|---|---|---|
|
Fit-out, equipment and launch |
3 104 000 |
Year 1 deployment: fit-out, six stations, three rooms, sterilisation, systems, solar and launch |
|
Cash |
996 000 |
Working capital, pre-opening costs and the balance of committed equity |
|
Total assets |
4 100 000 |
|
|
Share capital |
2 800 000 |
Promoter and investor equity |
|
Term debt drawn |
1 300 000 |
Drawn at close against the fit-out |
|
Total equity and liabilities |
4 100 000 |