BUS3585 Entrepreneurship

Question:

Introduction

The report aims to identify the various types the of depictions which are seen to be related to Biff’s Cabinet shop as per the given case study. Some of the various type the of the aspects of the report which has been further able to state on the relevant information related to the analysis of the market which has been shown as per the analysis which is undertaken to generate the potential sales figure which is expressed in terms of the thee dollar value. The different types of the secondary data search have weighed the heavily on the outcome found as per the market analysis. The report has been further able to include the S.W.O.T. analysis and a Competitive Analysis. The next part of the discussions as included the financial estimates which has been listed with Break-Even Income Statement, clear Income Statement Scenario Analysis, statement of Assets Needed: Equity and Debt Conscerns, one year of cash flow and statement of the Financial Commitment on the part of the principals.

About the company

As per the given case, Biff’s cabinet shop is a company involved in the construction of the cabinets. It has been determined that Biff was on a six-month unemployment insurance and realistically decided on selling of part-time kitchen cabinets for many friends. The main operations of the company were seen with BFF contacting his cabinet supplier. The supplier indicated that there had been not retailer available in the Sudbury area who would be interest to be a retailer for Biff. There main agreement of the relevant information was done between a friend in the real estate business. He showed him several ways to hire a commercial space in the range of 22/square foot.

Market Analysis

Target Market Analysis

Biff Cabinet Shop should focus on the contacting the architects and the contractors who deal in luxury home market segment. In this way Biff Cabinet shop will be able to get strong leads and make personal recommendations to the owners of the home. As per the decreasing sales value of the company, the main target customers should be focused on the individuals belonging to middle income group. In this way the company will be having better chances of increasing the sales (Policy 2016).

SALES BUDGET: Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper
	Low Range- Oak	Low Range- European	Med. Range- Oak	Med. Range- European	High Range- Oak	High Range- European
Month	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	MONTHLY SALES

June	3	$5,600	$16,800	1	$5,200	$5,200	3	$7,200	$21,600	1	$5,680	$5,680	3	$11,200	$33,600	1	$6,560	$6,560	$89,440
July	3	$5,600	$16,800		$5,200		4	$7,200	$28,800	2	$5,680	$11,360	4	$11,200	$44,800	1	$6,560	$6,560	$108,320
August	2	$5,600	$11,200		$5,200		3	$7,200	$21,600	1	$5,680	$5,680		$11,200			$6,560		$38,480
September	5	$5,600	$28,000	1	$5,200	$5,200		$7,200			$5,680			$11,200			$6,560		$33,200
October		$5,600			$5,200		1	$7,200	$7,200		$5,680			$11,200			$6,560		$7,200
November	1	$5,600	$5,600	1	$5,200	$5,200		$7,200			$5,680			$11,200			$6,560		$10,800
December		$5,600			$5,200			$7,200			$5,680			$11,200			$6,560		$0
January		$5,600		1	$5,200	$5,200		$7,200			$5,680			$11,200			$6,560		$5,200
February		$5,600		1	$5,200	$5,200	2	$7,200	$14,400		$5,680			$11,200			$6,560		$19,600
March	1	$5,600	$5,600		$5,200		1	$7,200	$7,200	1	$5,680	$5,680	1	$11,200	$11,200		$6,560		$29,680
April	2	$5,600	$11,200		$5,200		2	$7,200	$14,400	1	$5,680	$5,680	1	$11,200	$11,200	1	$6,560	$6,560	$49,040
May	2	$5,600	$11,200		$5,200		5	$7,200	$36,000	2	$5,680	$11,360	1	$11,200	$11,200	1	$6,560	$6,560	$76,320
TOTAL	19		$106,400	5		$26,000	21		$151,200	8		$45,440	10		$112,000	4		$26,240	$467,280

CASH RECEIPTS SCHEDULE:
	Low Range- Oak	Low Range- European	Med. Range- Oak	Med. Range- European	High Range- Oak	High Range- European
Month	Unit Installed	Av. Selling Price	Total Sales	Unit Installed	Av. Selling Price	Total Sales	Unit Installed	Av. Selling Price	Total Sales	Unit Installed	Av. Selling Price	Total Sales	Unit Installed	Av. Selling Price	Total Sales	Unit Installed	Av. Selling Price	Total Sales	TOTAL CASH RECEIPTS

June	3	$5,600	$16,800		$5,200			$7,200			$5,680			$11,200			$6,560		$16,800
July	3	$5,600	$16,800	1	$5,200	$5,200	3	$7,200	$21,600	1	$5,680	$5,680	3	$11,200	$33,600	1	$6,560	$6,560	$89,440
August	2	$5,600	$11,200		$5,200		3	$7,200	$21,600	2	$5,680	$11,360	4	$11,200	$44,800	1	$6,560	$6,560	$95,520
September	3	$5,600	$16,800	1	$5,200	$5,200	3	$7,200	$21,600	1	$5,680	$5,680		$11,200			$6,560		$49,280
October	2	$5,600	$11,200		$5,200		1	$7,200	$7,200		$5,680			$11,200			$6,560		$18,400
November		$5,600			$5,200			$7,200			$5,680			$11,200			$6,560		$0
December	1	$5,600	$5,600	1	$5,200	$5,200		$7,200			$5,680			$11,200			$6,560		$10,800
January		$5,600		1	$5,200	$5,200		$7,200			$5,680			$11,200			$6,560		$5,200
February		$5,600		1	$5,200	$5,200	2	$7,200	$14,400		$5,680			$11,200			$6,560		$19,600
March	1	$5,600	$5,600		$5,200		1	$7,200	$7,200	1	$5,680	$5,680		$11,200			$6,560		$18,480
April	2	$5,600	$11,200		$5,200		1	$7,200	$7,200	1	$5,680	$5,680	1	$11,200	$11,200		$6,560		$35,280
May	2	$5,600	$11,200		$5,200		3	$7,200	$21,600	2	$5,680	$11,360	1	$11,200	$11,200	1	$6,560	$6,560	$61,920
TOTAL	19		$1,06,400	5		$26,000	17		$1,22,400	8		$45,440	9		$1,00,800	3		$19,680	$4,20,720

PURCHASE BUDGET
	Low Range- Oak	Low Range- European	Med. Range- Oak	Med. Range- European	High Range- Oak	High Range- European
Month	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	MONTHLY PURCHASE

June	3	$3,500	$10,500	1	$3,250	$3,250	3	$4,500	$13,500	1	$3,550	$3,550	3	$7,000	$21,000	1	$4,100	$4,100	$55,900
July	3	$3,500	$10,500		$3,250		4	$4,500	$18,000	2	$3,550	$7,100	4	$7,000	$28,000	1	$4,100	$4,100	$67,700
August	2	$3,500	$7,000		$3,250		3	$4,500	$13,500	1	$3,550	$3,550		$7,000			$4,100		$24,050
September	5	$3,500	$17,500	1	$3,250	$3,250		$4,500			$3,550			$7,000			$4,100		$20,750
October		$3,500			$3,250		1	$4,500	$4,500		$3,550			$7,000			$4,100		$4,500
November	1	$3,500	$3,500	1	$3,250	$3,250		$4,500			$3,550			$7,000			$4,100		$6,750
December		$3,500			$3,250			$4,500			$3,550			$7,000			$4,100		$0
January		$3,500		1	$3,250	$3,250		$4,500			$3,550			$7,000			$4,100		$3,250
February		$3,500		1	$3,250	$3,250	2	$4,500	$9,000		$3,550			$7,000			$4,100		$12,250
March	1	$3,500	$3,500		$3,250		1	$4,500	$4,500	1	$3,550	$3,550	1	$7,000	$7,000		$4,100		$18,550
April	2	$3,500	$7,000		$3,250		2	$4,500	$9,000	1	$3,550	$3,550	1	$7,000	$7,000	1	$4,100	$4,100	$30,650
May	2	$3,500	$7,000		$3,250		5	$4,500	$22,500	2	$3,550	$7,100	1	$7,000	$7,000	1	$4,100	$4,100	$47,700
TOTAL	19		$66,500	5		$16,250	21		$94,500	8		$28,400	10		$70,000	4		$16,400	$2,92,050

CASH PAYMENT TO SUPPLIERS SCHEDULE:
	Low Range- Oak	Low Range- European	Med. Range- Oak	Med. Range- European	High Range- Oak	High Range- European
Month	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	Unit Sold	Av. Selling Price	Total Sales	TOTAL CASH PAYMENT

June	3	$3,500	$10,500		$3,250			$4,500			$3,550			$7,000			$4,100		$10,500
July	3	$3,500	$10,500	1	$3,250	$3,250	3	$4,500	$13,500	1	$3,550	$3,550	3	$7,000	$21,000	1	$4,100	$4,100	$55,900
August	2	$3,500	$7,000		$3,250		3	$4,500	$13,500	2	$3,550	$7,100	4	$7,000	$28,000	1	$4,100	$4,100	$59,700
September	3	$3,500	$10,500	1	$3,250	$3,250	3	$4,500	$13,500	1	$3,550	$3,550		$7,000			$4,100		$30,800
October	2	$3,500	$7,000		$3,250		1	$4,500	$4,500		$3,550			$7,000			$4,100		$11,500
November		$3,500			$3,250			$4,500			$3,550			$7,000			$4,100		$0
December	1	$3,500	$3,500	1	$3,250	$3,250		$4,500			$3,550			$7,000			$4,100		$6,750
January		$3,500		1	$3,250	$3,250		$4,500			$3,550			$7,000			$4,100		$3,250
February		$3,500		1	$3,250	$3,250	2	$4,500	$9,000		$3,550			$7,000			$4,100		$12,250
March	1	$3,500	$3,500		$3,250		1	$4,500	$4,500	1	$3,550	$3,550		$7,000			$4,100		$11,550
April	2	$3,500	$7,000		$3,250		1	$4,500	$4,500	1	$3,550	$3,550	1	$7,000	$7,000		$4,100		$22,050
May	2	$3,500	$7,000		$3,250		3	$4,500	$13,500	2	$3,550	$7,100	1	$7,000	$7,000	1	$4,100	$4,100	$38,700
TOTAL	19		$66,500	5		$16,250	17		$76,500	8		$28,400	9		$63,000	3		$12,300	$2,62,950

S.W.O.T. analysis

Strength

The main strengths of the company are listed below as follows:

The increasing nature of the units sold for the long-range oak over the month as per the sales budget is considered as the main strength of the company
The decreasing nature of the average purchase as per the data of the sales budget is also conducive in minimising the cost
The increasing trend of Net profit before tax in the month of March, April and <ay has been identified as the major strength of the company (Renz and Herman 2016)

Weakness

The decreasing trend of the total sales for the products such as Long-Range Oak, and high range Oak is identified as the major weakness for the company
It has been further depicted that as per the purchase budget the total sales of low range Oak has reduced considerably
The gross profit has been discerned with a fluctuating trend and in most of the months within the year it is seen to be decreasing in nature (Evans 2015)

Opportunities

The purchase budget has further stated that Med. Range Oak sales has the scope of improvement in terms of sales
Some of the significant nature of the other opportunities has been further seen to be traced in form of Med. Range European products which has been evident with the increasing cash payment to the supplier’s schedule (Finkler et al.2016)
The progressive financial performance after March, April and May has been considered as a good opportunity as a starting point for the subsequent financial years

Threats

The decreasing nature of the sales depicts that other companies stand a better chance in driving the demand in their favour
The increasing cost of capital is a major threat as the company may get completely liquidated in the next few years of time
The decreasing profit and debt burden are also a major threat to the company’s existence in the competitive market environment (Heizer 2016).

Competitive Analysis

The high-end cabinet market is understood with the concept of service and support which is more likely to be paid at the time of offering. The competitors range from the several retailers available in the market despite of the fact individual competitors have been able to deliver a quality product. There have been four factors which has governed the cost of the kitchen products. These factors have been identified in form of the “Scope, Product, Design, and Services” (Zietlow et al. 2018). In majority of the cases people make the mistake of sizing the” project and the choice of brand name products will make for the best results”. However, in general the design of the products and the services offered are seen to be having the highest impact on the competitive edge to the company. The has significant scope of promoting the designs in the social media sites and other online platforms (Titman, Keown and Martin 2017).

Financial Analysis

1. A Break-Even Income Statement

BREAK-EVEN INCOME STATEMENT
Particulars	Amount	Amount
Sales Revenue		$467,280
Variable Cost:
Purchase Cost	-$292,050
Installation Cost	-$24,400
Shipping Cost	-$10,980
Total Variable Cost		-$327,430
CONTRIBUTION		$139,850
CONTRIBUTION MARGIN		29.93%
Fixed Costs:
Store Rent	-$10,612
Rent for Portable Sign	-$375
Promotional Items	-$600
Business Cards	-$250
Salary to Biff	-$36,800
Salary to Mary	-$23,200
Travelling Expenses	-$8,000
Incorporation Tax	-$1,500
Accountant Fees	-$1,500
Heat & Hydro Expenses	-$7,375
Lease Expenses for Photocopier	-$1,800
Office Supplies Expenses	-$900
Telephone Cost	-$2,220
Interest Expenses	-$1,788
TOTAL FIXED COSTS		-$96,920

NET PROFIT		$42,930

BREAK EVEN POINT IN DOLLARS		$323,839

A clear Income Statement Scenario Analysis

INCOME STATEMENT:
Particulars	June	July	August	September	October	November	December	January	February	March	April	May	TOTAL

Sales Revenue	$89,440	$108,320	$38,480	$33,200	$7,200	$10,800	$0	$5,200	$19,600	$29,680	$49,040	$76,320	$467,280
Cost of Goods Sold:
Purchase Cost	-$55,900	-$67,700	-$24,050	-$20,750	-$4,500	-$6,750	$0	-$3,250	-$12,250	-$18,550	-$30,650	-$47,700	-$292,050
Installation Cost	-$1,200	-$4,800	-$4,800	-$3,200	-$1,200	$0	-$800	-$400	-$1,200	-$1,200	-$2,000	-$3,600	-$24,400
Shipping Cost	-$540	-$2,160	-$2,160	-$1,440	-$540	$0	-$360	-$180	-$540	-$540	-$900	-$1,620	-$10,980
Total Cost of Goods Sold	-$57,640	-$74,660	-$31,010	-$25,390	-$6,240	-$6,750	-$1,160	-$3,830	-$13,990	-$20,290	-$33,550	-$52,920	-$327,430
GROSS PROFIT	$31,800	$33,660	$7,470	$7,810	$960	$4,050	-$1,160	$1,370	$5,610	$9,390	$15,490	$23,400	$139,850

Operating Expenses:
Store Rent	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$10,612
Rent for Portable Sign	-$125	-$125	-$125										-$375
Promotional Items	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$600
Business Cards	-$21	-$21	-$21	-$21	-$21	-$21	-$21	-$21	-$21	-$21	-$21	-$21	-$250
Salary to Biff	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$36,800
Salary to Mary	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$23,200
Travelling Expenses	$667	$667	$667	$667	$667	$667	$667	$667	$667	$667	$667	$667	-$8,000
Incorporation Tax	-$125	-$125	-$125	-$125	-$125	-$125	-$125	-$125	-$125	-$125	-$125	-$125	-$1,500
Accountant Fees												-$1,500	-$1,500
Heat & Hydro Expenses	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$7,375
Lease Expenses for Photocopier	-$150	-$150	-$150	-$150	-$150	-$150	-$150	-$150	-$150	-$150	-$150	-$150	-$1,800
Office Supplies Expenses	-$350	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$900
Telephone Cost	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$2,220
Total Operating Expesnse	-$6,838	-$6,538	-$6,538	-$6,413	-$6,413	-$6,413	-$6,413	-$6,413	-$6,413	-$6,413	-$6,413	-$7,913	-$95,132
NET OPERATING PROFIT	$24,962	$27,122	$932	$1,397	-$5,453	-$2,363	-$7,573	-$5,043	-$803	$2,977	$9,077	$15,487	$60,718

Interest Expenses	-$149	-$149	-$149	-$149	-$149	-$149	-$149	-$149	-$149	-$149	-$149	-$149	-$1,788
NET PROFIT BEFORE TAX	$24,813	$26,973	$783	$1,248	-$5,602	-$2,512	-$7,722	-$5,192	-$952	$2,828	$8,928	$15,338	$58,930

A statement of Assets Needed: Equity and Debt Concerns

STATEMENT OF START-UP COSTS:
Particulars	Amount	Amount
Upgradation of Rental Property:
Ceiling	$3,600
Flooring	$2,800
Painting	$1,200
Lighting	$2,700
Total Upgradation Cost		$10,300
Advertisement & Promotional Cost:
Sign at the mall front	$2,000
Sign above store front	$900
In-Store Display Sign	$400
Advance Rent for Portable Signage	$375
Small Promotional Items	$600
Business Cards	$250
Grand Opening Cost	$1,000
Total Advertisement & Promotional Cost		$5,525
Opening Bank Balance		$5,000
Lease of Photocopier		$1,800
Purchase of Office Supplies		$300
Installation of Telephone		$190
TOTAL START UP-COST		$23,115

Loan from New Ventures		$15,000
Owner’s Contribution		$8,115
TOTAL CAPITAL		$23,115

One-year Cash Flow Statement

CASH FLOW STATEMENT
Particulars	May	June	July	August	September	October	November	December	January	February	March	April	May	TOTAL
Cash Flow from Operating Activities:
Receipts from Customers		$16,800	$89,440	$95,520	$49,280	$18,400	$0	$10,800	$5,200	$19,600	$18,480	$35,280	$61,920	$420,720
Payment to Suppliers		-$55,900	-$67,700	-$24,050	-$20,750	-$4,500	-$6,750	$0	-$3,250	-$12,250	-$18,550	-$30,650	-$47,700	-$292,050
Installation Charges paid		-$1,200	-$4,800	-$4,800	-$3,200	-$1,200	$0	-$800	-$400	-$1,200	-$1,200	-$2,000	-$3,600	-$24,400
Shipping Cost Paid		-$540	-$2,160	-$2,160	-$1,440	-$540	$0	-$360	-$180	-$540	-$540	-$900	-$1,620	-$10,980
Store Rent Paid		-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$884	-$10,612
Advance Rent for Portable Signage	-$375													-$375
Small Promotional Items	-$600													-$600
Business Cards	-$250													-$250
Grand Opening Cost	-$1,000													-$1,000
Lease of Photocopier	-$1,800													-$1,800
Purchase of Office Supplies	-$300	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$50	-$900
Telephone Expenses	-$190	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$185	-$2,410
Salary to Biff		-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$3,067	-$36,800
Salary to Mary		-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$1,933	-$23,200
Travelling Expenses		-$667	-$667	-$667	-$667	-$667	-$667	-$667	-$667	-$667	-$667	-$667	-$667	-$8,000
Incorporation Tax													-$1,500	-$1,500
Accountant Fees													-$1,500	-$1,500
Heat & Hydro Expenses		-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$615	-$7,375
NET CASH FLOW FROM OPERATING ACTIVITIES	-$4,515	-$48,241	$7,379	$57,109	$16,489	$4,759	-$14,151	$2,239	-$6,031	-$1,791	-$9,211	-$5,671	-$1,401	-$3,032

Cash Flow from Investing Activities:														$0
Upgradation Cost	-$10,300													-$10,300
Sign at the mall front	-$2,000													-$2,000
Sign above store front	-$900													-$900
In-Store Display Sign	-$400													-$400
NET CASH FLOW FROM INVESTING ACTIVITIES	-$13,600	0	0	0	0	0	0	0	0	0	0	0	0	-$13,600

Cash Flow from Financing Activities:
Loan from New Ventures	$15,000													$15,000
Owner’s Contribution	$8,115													$8,115
Repayment of Loan inclg. Interest		-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$3,720
NET CASH FLOW FROM INVESTING ACTIVITIES	$23,115	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	-$310	$19,395

NET INCREASE/(DECREASE) IN CASH BALANCE	$5,000	-$48,551	$7,069	$56,799	$16,179	$4,449	-$14,461	$1,929	-$6,341	-$2,101	-$9,521	-$5,981	-$1,711	$2,763
Add: Opening Balance	$0	$5,000	-$43,551	-$36,481	$20,318	$36,498	$40,947	$26,486	$28,416	$22,075	$19,974	$10,454	$4,473	$0

Closing Balance	$5,000	-$43,551	-$36,481	$20,318	$36,498	$40,947	$26,486	$28,416	$22,075	$19,974	$10,454	$4,473	$2,763	$2,763

A statement of the Financial Commitment on the part of the principals

STATEMENT OF FINANCIAL COMMITMENTS FOR PRINCIPALS:
Particulars	May	June	July	August	September	October	November	December	January	February	March	April	May

Opening Loan Balance	$15,000	$15,000	$14,839	$14,678	$14,517	$14,356	$14,195	$14,034	$13,873	$13,712	$13,551	$13,390	$13,229

Total Repayments		$310	$310	$310	$310	$310	$310	$310	$310	$310	$310	$310	$310
Less: Interest		$149	$149	$149	$149	$149	$149	$149	$149	$149	$149	$149	$149
Principal Repayment		$161	$161	$161	$161	$161	$161	$161	$161	$161	$161	$161	$161

Closing Loan Balance	$15,000	$14,839	$14,678	$14,517	$14,356	$14,195	$14,034	$13,873	$13,712	$13,551	$13,390	$13,229	$13,068

Conclusion

The main depictions about the break-even point has stated that the estimated amount for the company in reaching the point of contribution margin is depicted to be very high. This is evident with an amount of $3,23,839. This also signifies that the company needs to achieve a very high sales volume to enter the region of no profit or no loss. The net profit before tax has been further identified to be considerably fluctuating in nature This trend has been identified with NPBT of $24,813 in the month of June, $26,973 in July, $783 in August, $1,248 in May and -$5,602 June. The company consecutively earned loss from October to February and again depicted with a profit of $2,828 in the month of March $8,928, in April and $15,338 in May. The market analysis has further revealed that the increasing nature of the units sold for the long-range oak over the month as per the sales budget is considered as the main strength of the company. In addition to this, the decreasing nature of the average purchase as per the data of the sales budget is also conducive in minimising the cost. However, decreasing trend of the total sales for the products such as Long-Range Oak, and high range Oak is identified as the major weakness for the company. The purchase budget the total sales of low range Oak has reduced considerably and gross profit has been discerned with a fluctuating trend and in most of the months within the year it is seen to be decreasing in nature. It has been also discerned that as per the statement of financial commitments for principals the closing loan balanced has improved in the month of March, April and May.

Based on the depictions it is recommended that the company should consider improving on the current financial and marketing setup before entering the market. This rationale is evident as per the findings of the break-even analysis, income statement and sales budget.

References

Evans, V., 2015. The FT Essential Guide to Writing a Business Plan: How to win backing to start up or grow your business. Pearson UK.

Finkler, S.A., Smith, D.L., Calabrese, T.D. and Purtell, R.M., 2016. Financial management for public, health, and not-for-profit organizations. CQ Press.

Heizer, J., 2016. Operations Management, 11/e. Pearson Education India.

Kaiser, M.G., El Arbi, F. and Ahlemann, F., 2015. Successful project portfolio management beyond project selection techniques: Understanding the role of structural alignment. International Journal of Project Management, 33(1), pp.126-139.

McNeil, A.J., Frey, R. and Embrechts, P., 2015. Quantitative risk management: Concepts, techniques and tools. Princeton university press.

McPherson, R.A. and Pincus, M.R., 2017. Henry’s Clinical Diagnosis and Management by Laboratory Methods E-Book. Elsevier Health Sciences.

Policy, I.C., 2016. FY 2016 Japan Fair Trade Commission Performance Evaluation Report (Standard Format). Policy.

Renz, D.O. and Herman, R.D. eds., 2016. The Jossey-Bass handbook of nonprofit leadership and management. John Wiley & Sons.

Titman, S., Keown, A.J. and Martin, J.D., 2017. Financial management: Principles and applications. Pearson.

Zietlow, J., Hankin, J.A., Seidner, A. and O’Brien, T., 2018. Financial management for nonprofit organizations: Policies and practices. John Wiley & Sons.

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