ReclaimHub — Financial Plan — Assumptions & Methodology
The financial plan assumptions and methodology - the modelling framework and the assumptions register underpinning ReclaimHub.
Section 17 · Business Plan
Financial Plan — Assumptions & Methodology
The financial plan assumptions and methodology – the modelling framework and the assumptions register underpinning ReclaimHub.
The financial plan preserves the sponsor’s revenue and EBITDA exactly
and independently re-derives everything below EBITDA. The balance sheet
is asserted to tie to zero in every year. This section documents the
methodology so that every figure downstream is traceable.
17.1 Methodology
- Sponsor anchors preserved: revenue, EBITDA,
store count and loan book are used exactly as provided and are not
adjusted. - Independent re-derivation below EBITDA:
depreciation (per-vintage straight line), interest (term debt +
warehouse), and tax (27% with s20 assessed-loss carry-forward, capped at
80% of taxable income) are modelled from first principles. - Revenue decomposition: pawn revenue is set at
40% of the average book; the remainder is split across
second-hand/refurb, new imports, and franchise/service fees. - Balance-sheet integrity: assets less liabilities
less equity is asserted below R0.15m in every year — the model does not
proceed otherwise.
17.2 Key assumptions
| Assumption | Value | Basis |
|---|---|---|
| Pawn gross yield | 40% of avg book | ~21% per 90-day cycle, high redemption |
| Impairment (base / downside) | 5.5% / 9.0% of avg book | Over-collateralised; forfeiture recovery |
| Store fit-out capex | ~R1.77m / store | R620m over 350 stores |
| Depreciation lives | Fit-out 6y, refurb 8y, tech 5y | Straight line, per vintage |
| Corporate term debt | R1.0bn @ 11.5%, 6y, 1y grace | Senior amortising |
| Warehouse facility | 75% advance @ 12.5% | Revolving, secured on book |
| Inventory | 18% of revenue | Retail stock intensity |
| Tax | 27%, s20, 80% cap | SA corporate tax regime |
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of ReclaimHub Retail Group (Pty) Ltd.