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The Flowering Soul
To be Submitted to
Wells Fargo Bank and Company
Amanda Comer
The Flowering Soul
7715 Old Bee Cave Rd
Austin, Texas 78735
512­380­2454
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The Flowering Soul’s Vision
The Flowering Soul’s owner, Amanda Comer, has always seen the benefits of a more
holistic approach to curing life’s ailments. We will specialize in garden therapy by providing
the plants and the classes to lead your soul in a positive direction. For centuries, herbs
have been used to heal and we will also provide the knowledge and the plants to help you
achieve a more healthy lifestyle. We will specialize in organic fruit and vegetables to further
improve your journey to better health. We can also provide the customer with the materials
and the knowledge to create a serene environment at your own home to enjoy for years
and years to come. Yes, we are a regular nursery, but we set ourselves apart by ensuring
horticulture creates you a more holistic and healthy life!
The Flowering Soul’s Statement of Purpose
The Flowering Soul, a sole proprietorship, seeks a loan totaling $175,100 to: purchase
equipment, property, and a facility at 7715 Old Bee Cave Road, Austin, Texas 78735; to
perform improvements and renovations to the property; to establish and maintain enough
cash to supply working capital; and to provide proper horticultural and certified organic
training for the hired staff. These funds are necessary to create a company that will cater to
an increasingly holistic society. Austin, Texas is growing in population by 115 people per
day, and with the growing curiosity for alternative medicines and therapies, my company
will be sure to thrive. The loan will be paid over a 15 year fixed loan with a request for an
interest rate of 8%.
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Table of Contents
Section One: The Business Page
A. Description of Business ………………………………………….. 4
B. Products/Services ………………………………………………… 5
C. Marketing Information …………………………………………….. 6
D. Location of Business ……………………………………………… 7
E. Competition ………………………………………………………... 8
F. Management ………………………………………………………. 9
G. Personnel ………………………………………………………….. 10
H. Application of Expected Effect of Loan ………………………….. 11
I. Summary ………………………………………………………….... 12
Section Two: Financial Data
A. Sources of Applications of Funding ……………………………… 13
B. Capital Equipment List ……………………………………………. 14
C. Balance Sheet ……………………………………………………… 16
D. Break­Even Analysis ………………………………………………. 17
E. Income Projections:
a. Three­year Summary ………………………………………. 18
b. Detail by Month, First Year ………………………………… 19
c. Detail by Quarter, Second and Third Years …………….... 20
d. Notes of Explanation ………………………………………. 22
F. Cash Flow Projections
a. Detail by Month, First Year ………………………………… 24
b. Detail by Quarter, Second and Third Years ………………. 25
c. Notes of Explanation ……………………………………….. 27
G. Deviation Analysis ……………………………………………………. 28
Section Three: Supporting Documents
A. Résumé ……………………………………………………………… 35
B. Credit Information …………………………………………………… 36
C. Personal Balance Sheet ……………………………………………. 37
D. Cost of Living ...……………………………………………………… 38
E. Job Descriptions ..………………………………………………….. 40
F. Letter of Intent …………….……………………………………….. 41
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Section One ­ The Business
A. Description of the Business
The Flowering Soul is primarily in the business of merchandising with the compliment of
services to our merchandise. It is important for us to not only give our customers what they
need, but to also give the knowledge of how to best utilize the plant material. Amanda
Comer is well­educated in all of the topics that will be the overall theme of this garden
center and will provide education for her staff, as well. Our products will include beds and
border plants, container plantings, trees, organic fertilizers and planting materials, organic
fruits and vegetables, organic herbs, seeds, hardscape features, etc.. Our services will
include classes for gardening with a therapeutic purpose, on how to utilize herbs for
medicinal use, along with the correct certified methods for planting organic fruits and
vegetables. Our company’s focus is an object of curiosity for our holistically growing
society. Natural and organic is in, and artificial and processed is out (I provide statistics for
this further on in this plan). This growing curiosity will serve as a “fuel” for our company and
help us to expand and grow financially. Our company, a start­up, will launch in April of 2015
and will take a fresh new perspective on the uses of a local Austin nursery/garden center.
We will be open six days a week; Tuesday ­ Friday from 9:00 a.m. to 6:00 p.m. and
Saturday and Sunday from 9:00 a.m. to 6:00 p.m.. Seasonal Hours (December ­ February)
will go from Monday­Sunday, 9:00 a.m. to 5:00 p.m.. However, classes will be regularly
scheduled throughout the year regardless of season and there will even be seasonal
themed classes to compliment what is happening at that time of year. Amanda Comer is
the sole proprietor of this company and plans to manage it by herself, with the help of a
skilled and trusted staff/ management system.
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B.Products and Services
Austin is growing exponentially. And with us being located in one of the more affluent
neighborhoods, Barton Creek, the need for a high­end organic and holistic garden center is
necessary. We offer a wide range of products, ranging from organic fruits and vegetables,
to beautifully handmade hardscapes with soul. We offer plants such as annuals, perennials,
native plants, xerophytic plants, organically grown nursery trees (which we personally
deliver), fruits and vegetables, herbs, organic and sustainable solutions to landscape
maintenance, and as mentioned before, handmade and artisan crafted hardscape features
for your own personal sanctuary garden. Our products are all sustainable, mostly local,
and we take into consideration to only provide products that contribute to a better and
healthier earth. This holistic approach is one of the first steps to making a better and
cleaner environment! Our services are what set us apart from the competition. Not only are
we selling the customer a natural and sustainable product, but we are also selling the
knowledge on how to maintain these products and how the customer can become a better
steward of the earth and their body. Our goal is to educate this growing community into
becoming more aware of the simple steps they can take to create a healthier earth and self.
We offer services such as classes on therapeutic gardening with a specially trained staff
member with this type of therapy, how to grow and create herbal medicinal remedies, and
how to grow and maintain a truly certified organic home garden. These classes will be
offered at a reasonable cost and during convenient hours where even the busy mother of
three could take time to attend! We will also specialize classes to pertain to the time of the
year, which makes the knowledge truly relevant. Other services include delivery,
one­on­one gardening training, and referrals to partner landscapers that hold the same
values that the Flowering Soul keeps true to heart.
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C. Marketing Information
Our primary market includes middle to upper class families in the Barton Creek, West
Austin area searching to beautify their home, mind, and body while contributing to the
betterment of the earth. Our price ranges will reflect the prices of our vendors. Better quality
equal higher prices, but with Barton Creek’s average annual income being $284,842, we do
not see this to be an obstacle. Our market also includes those with peaked curiosity on how
to best utilize our products. Austin is an increasingly growing community and the city is
renown for its constituents with an interest on how to contribute to a more sustainable and
organic lifestyle.
We have conducted an informal survey of 200 people in the Barton Creek area to gain a
feel for what our constituents are needing, would like to see, and do not need in their local
nursery.
Needing Would Like To See Do Not Need
Bigger selection of
Organic Vegetables and
Fruits
76 (38%) 84 (42%) 40 (20%)
Informational Classes 127 (63.5%) 45 (22.5%) 28 (14%)
Herbal/natural medicinal
remedies
98 (49%) 76 (38%) 26 (13%)
Trustworthy landscaper
referrals
55 (27.5%) 102 (51%) 43 (21.5%)
Organic compost and
maintenance solutions
157 (78.5%) 43 (21.5%) 0 (0%)
Bigger selection of
native, water conserving
plants
134 (67%) 54 (27%) 12 (6%)
Based on the Table above, there is a need and desire for our services within this
community. West Austin and the neighborhood of Barton Creek would be a successful
environment for our business.
We will work to advertise by word of mouth by our loyal customers, pass out 100% recycled
paper flyers at local farmers markets, and reach out to local schools for field trip
opportunities and give the students a “leave­behind” plant to bring home to head of
households (to promote our business). We would also have an easy accessible website
with sales, promotions, events, and online class registration. Television advertisements
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may be done if there is a sufficient amount of cash flow to make this possible. Our budget
for advertising would be 4% of our profits.
D.Location of Business
Our business address is 7715 Old Bee Cave Rd. Austin, Texas 78735 which is located less
than three miles away from Barton Creek Country Club and plenty of stores and
restaurants. This is a leveled 4 acre plot of land with access to water, gas, telephone, and
electricity and is advertised to be best for a nursery setting. I would lease this space for
$1,500/month. The area is zoned for commercial use and would need construction for a
small dry goods facility with bathrooms, employee break room, sales transaction area, and
along with a medium to large sized greenhouse with sufficient workspace and classes
(which will be provided by the Texas Greenhouse CompanyTM
. It is also filled with trees
which would provide a nice natural shade and comfortable environment for our customers.
It would take about half a year to construct all of what is needed, but the location and price
is superb.
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E.The Competition
The top five competitors within a ten mile radius are as follows:
1. The Natural Gardener ­ This is the biggest competition
1.1. www.naturalgardeneraustin.com
1.2. business is doing well and have high reviews, poses somewhat of a threat
2. Barton Springs Nursery
2.1. www.bartonspringsnursery.net
2.2. Run­of the mill nursery, nothing that stands out
3. Emerald Garden
3.1. www.emerald­garden.net
3.2. Small, simple nursery, poses no immediate threat
4. Copper Rock Nursery
4.1. no website, not very good accessibility for the technological customer
5. Oracle George Cactus Nursery
5.1. no website, not very good accessibility for the technological customer
The Natural Gardener (biggest competitor) vs. The Flowering Soul
Customer Seeks Competition Offers TFS Offers
Quality Yes Yes
Exclusivity Somewhat Somewhat
Lower Prices No No
Product Line Good Good
Events Yes Yes
Delivery Yes Yes
Gift Cards Yes Yes
Credit Line No In future
Knowledgeability Somewhat Yes
Polite Help Yes Yes
Classes Seasonal/Monthly Yes, Regularly throughout yr.
Availability Yes Yes
Location Yes Yes
Information Yes Yes
Warranty No Yes
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F.Management
1. Personal History of Principals
1.1. I am 35 years of age, have a degree in Horticultural Sciences with a focus on
Turfgrass sciences from Texas Tech University. I worked as a Golf Course
Superintendent for 4 years with Barton Creek Country Club. The idea to own
a garden center like the Flowering Soul, stemmed from “buzz” around the
country club about needing more organic and natural solutions to horticultural
needs and uses. I have always been interested in fulfilling the organic and
natural horticulture practices and wish to teach these practices so that future
generations may carry on these practices and values as well! I have lived in
central Texas most of my life, and have always been surrounded by
Austinites who also share these natural and organic ideals. I am still very
young and with a husband who mostly supports our family financially, this is
something I am willing to be in for the long haul regardless of how much
money I, personally, make. I have always been known to be very strong,
persistent, knowledgeable, honest, hard­working, and am well­known
throughout Austin because of my involvement in community activities.
2. Related Work Experience
2.1. I have worked in a management position during college all through my career
as a golf course superintendent. As a superintendent, I oversaw 50 or more
people and had a very high morale within my staff. In college I worked as an
employee at a local garden center in Lubbock and thoroughly enjoyed the
environment and the staff.
3. Duties and Responsibilities
3.1. I will be responsible for the hiring, purchasing, general managing, and design
of garden center. I will have two floor managers that will be responsible for
overseeing employees directly, solving grievances with customers, and
handling money. They will directly report to me with issues within the garden
center regarding employees, suggestions, customer grievances, and
structural or product problems.
4. Salaries
4.1. For the first three years, I will not take a salary. My husband financially
supports my entire family with a very stable job. After the third year, if sales
are where they need to be, I would start taking home a small salary. The two
floor managers will make $2,000 per month for the first year and will receive
raises by merit and retention.
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5. Resources Available to the Business
5.1. We will acquire a business lawyer on retainer, use the services of The Austin
CPA for our accounting needs, and an insurance agent to fulfill insurance
needs for the building, products, and liabilities. The website will be done by a
family member for no charge and everyday financial operations will be done
by Amanda Comer.
G. Personnel
My personnel for the first year would be 2 floor managers, with appropriate college degree
requirements, and 8 employees with an expanded knowledge in ornamental plants. This
allows for 3­4 people per day to help with the everyday workings of the company. As the
company grows, so will the need for more employees and I will hire accordingly with the
advice and help of the floor managers. We will also have local experts in gardening tips,
organic methods, herbal methods, and plant expertise for our bi weekly classes. These
experts will be hired when needed and paid a flat rate of $150. The skills needed for the
everyday employees will be an advanced knowledge of plants and gardening, organic
methods, and uses for herbs and ornamental plants. The floor managers will be full­time
and paid on salary while the 7 sales staff will be part­time and paid hourly at $10/hour. I will
not offer insurance for full­time employees until after the 1st year when sales and
employees are more stable. After the 3rd year, I will offer a 50% match to 401k
contributions made only by full­time staff. I will not pay overtime. Training will be done in a
two week session before the company opens and ALL employees will be paid $8.50/hour
while training. I am also keeping in mind the costs of outside resources necessary to run
the business. (See Job Descriptions on pg. 40)
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H.Expectation of Loan
The $175,100 will be used as follows:
● Rent for the First Year
○ $18,000 @ $1,500/month
● Renovations to land
○ $45,000 to: excavate; create parking; build fencing for security; prepare organic
beds for displays; create pathways; build small building for dry goods, facilitate
office, bathrooms, and employee break area; tabling for product display; storage
will be offsite
● Equipment
○ $35,000/$50,000 for gardening equipment, greenhouse, vehicles, trailers, heating,
etc. (the remaining amount will be provided by owner)
● Utilities for the first year
○ $18,000 for water, gas, electric, internet @ $1,500/month
● Nursery Stock
○ $29,000
● Two­week training program
○ $5,100
● Total ­ $175,100
The Flowering Soul is going to lease the property at 7715 Old Bee Cave Rd. for 1,500/month.
This property also allows for an eventual purchase. An independent appraiser has
estimated the value of the renovated land at $225,000 dollars (originally $180,000). We
want to remain flexible with location incase of expansion or some other occurrence. We will
also have to build a greenhouse which will be provided by Texas Greenhouse Company,
the small building will be provided by Country Carpenters, and we will need tabling to
display products.
Gardening equipment is a must to upkeep the stock and create displays, the truck and
trailer will be used for deliveries and to take items to storage, We will lease a forklift to carry
heavy items and help with stocking. I will also purchase safety gear for employees and will
purchase signage for a more organized and easy shopping experience.
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I. Summary
The Flowering Soul, is an sole proprietorship in the business of plant knowledge, organic,
herbal and garden center needs. Amanda Comer, the owner, is seeking a loan of $175,100
to lease land at 7715 Old Bee Cave Rd., purchase and lease equipment, maintain a cash
reserve, have working capital in order to maintain a profitable business. This amount will
plenty to cover the needs of this start­up and will help create a wonderful company.
Amanda Comer has done plenty of research of the surrounding demographics and has
conducted surveys to assess the needs of the surrounding community. Although we have
one major competition, that business has been slowing and Austin is growing at an
exponential rate; the gardening needs of this affluent community of Barton Springs is
growing. Amanda’s experience in this field of work, with her educational background
ensures that she can provide a growing business with positive morale within her staff. Her
staff will be well­trained in a two­week training company. It is important for Mrs. Comer to
add to an already environmentally aware community. This company, with the help of this
loan, can do just that.
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Section Two: Financial Data
A. Sources of Application and Funding
The Flowering Soul
● Sources:
○ Long­Term Loan $175,100
○ Personal Investment $15,000
■ Total Sources $190,100
● Applications:
○ Rent/Utilities for 1st Year $36,000
○ Renovations: $45,000
○ Equipment: $50,000
○ Cash Reserves: $25,000
○ Nursery Stock: $29,000
○ Employee Training $5,100
■ Total Applications: $190,100
To be secured by the assets of the business and personal guarantees of the
principals, Amanda Comer.
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B.Capital Equipment List
The Flowering Soul’s Capital Equipment List
Major Equipment Model Cost or List Price
Delivery Truck 2008 Ford F350 SuperDuty
Lariat 4WD
$18,500
Delivery Trailer Carry­On Trailer 5ft x 10ft
treated lumber with ramp
Model #5X10LGW2K
$1,199
Greenhouse American Classic ­ 2500
Series by Texas Greenhouse
CompanyTM
$9,500
Fork Lift (Leased) Morse Forklift­Karrier
55­Gallon 12V DC Battery
Power Tilt 1500 Lb. Cap
Model #T9FB806536
$2,839
Greenhouse Heater Williams Direct Vent Gas
Heaters Model #2203621
$599
Gardening Equipment Model Cost or List Price
Hoses (10) Flexon ⅝­in x 50ft heavy­duty
garden hose Model #76LJ986
$200
Shovels (5) Kobalt Short­Handled
Fiberglass Digging Shovel
Model #1592900
$125
Wheelbarrow (2) Kobalt 6 cu­ft Steel
Wheelbarrow with FlatFree
Tire Model #C6STK14
$179.94
Hand Pruners (4) Fiskars Bypass Hand Pruner
Model #81096933
$71.92
Gloves (10) Blue Hawk Leather Palm
Work Gloves Model
#LW84059­L
$98.80
Safety Goggles (10) 3M Clear Chemical Impact
Goggle Model #90519­00001
$29.97
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Uniforms (Aprons and Shirts)
(15)
Cintas $1,200
Office Equipment Model Cost or List Price
Safe 1879 Diebold Mosler $250
Cash Registers (2) 523 NCR 1997 $2,250
Computers (2) Apple iMac 27” Refurbished $4,000
Laptop Apple Macbook 13”
Refurbished
$1,200
Software (various) $1,500
Finance Calculators (3) Global Industries $113.85
Phones Time Warner Cable $1,200
Long Distance Walkie­Talkies
(2)
Motorola MS350R 35­Mile
Range
$141.98
Desks, Chairs, Tables Office Depot $1,500
Lighting $650
Security System ADT Security System $3,500
Other Equipment Model Cost or List Price
Employee Fridge Kenmore 1.2 cu­ft
Top­Freezer
$395.99
Display Tables (25) R.W. Rogers and Company $2,399.75
Shopping Carts (35) Nesting Garden Center Model
#RWR­PRE­880G
$1,750
Total Capital Equipment $55,394.20**
** There is an excess of $5,394.20 that is not listed in the expectation of loan. However, this will
be met by personal contributions, which will be illustrated when I present personal finances.
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C.Preliminary Balance Sheet
The Flowering Soul
November 2, 2014
Prelim Balance Sheet
Assets
Current Assets
Cash $15,000
Supplies $1,752.68
Merchandise Inventory $29,000
Total Current Assets $45,752.69
Fixed Assets
Equipment $17,453.01
Greenhouse $9,500
Building $20,000
Truck/Trailer/ForkLift $22,538
Furniture $4,149.75
Total Fixed Assets $73,640.75
Total Assets $119,393.44
Liabilities
Current Liabilities
Accounts Payable $10,000
Total Current Liabilities $10,000
Long­term Liabilities
Long­term Loan (15 yr) $175,100
Total Long­term Liabilities $175,100
Total Liabilities $185,100
Owner’s Equity ­$65,706.56
Total Liabilities and Networth $119,393.44
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D.Break­even Analysis ­ 3 year projection
This Breakeven analysis is based on the figures from the 3 year income projections
Fixed costs (FC) = $317,764
Rent/Utilities = $108,000
Salaries/Benefits/FICA = $172,000
Fixed 15 Year Loan @ 8% interest = $37,764
Variable Costs (VC) = $687,776
COGS (Var. Labor + Cost of Materials) = $659,026
Benefits = $9,600
Other = $19,150
Thus, breakeven sales (S) = FC / [1­(Variable Costs) / Sales]
= $317,764 / [1 ­ ($687,776)/ $1,072,750]
= $317,764 / [1 ­ 64.13% ]
= $317,764 / 35.87%
= $885,876= $24,607 per month
E.Projected Income Statements (pg. 18­21)
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a. Three Year Summary
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d. Notes of Explanation
I. Sales ­ This will be the total of retail sales (which will include plants, hardgoods, drygoods,
seasonal items, and delivery services) and the income produced by our classes provides
(which includes gardening tips, field trips, arts and crafts, cooking, etc.). Retail products
will be priced accordingly with the season at an average of about 208% markup (Ex. $3
plant will be marked up to $8.39).
Retail and Classes ­ Retail will take up primarily most of the sales (95% average). Our
classes will provide a 5% boost of sales that would have not been there before with only
retail sales. Retail sales will fluxuate with the seasons. This means spring and early
summer sales will be more than sales in late summer and late winter. Christmas season
will be the highest point of sales as we will provide Christmas trees and decorations. In
low seasons, like January and February, we will provide classes and Valentine’s Day
goods along with an increase in discounts and promotions (to boost sales).
Total Sales ­ this the the sum of retail sales and classes
II. Cost of Materials ­ Our cost of materials will range from $28,000 a quarter to $35,000 a
quarter. This will be partly due to seasonal promotions, like Christmas trees, extra
decorations, and frequent plant purchasing to keep fresh stock during our busy season. A
cutback of purchases will be enforced during a slow season in order to reduce spoilage of
plants and aging of materials.
Variable Labor ­ I will only have two full­time employees, besides myself. However, my
part­time employees will include 7­9 staff members on roster at all times. Hours will range
depending on time of the year. During the busy season, I will require employees to work
30­35 hours a week at $9/hour. Then during the slow seasons, I will only require
employees to work 25­28 hours a work at $9/hour. I took this into consideration when
estimating the cost of this labor.
COGS ­ This is the Cost of Goods Sold which will be the sum of cost of materials and my
sales staff to sell these products.
Gross Margin ­ This is the difference between total sales and the cost of goods sold.
III. Operating Costs ­ This will be the total of all the costs to operate and run the business.
Utilities ­ This will include internet, water, gas, fuel (for deliveries), and electricity. We
have set­up this business into a budget plan where the utilities will be constant each
month. The utility companies have agree upon a fixed budget that comes to about
$1,300/month, plus $200/month on gas.
Rent ­ We have rented a plot of land that will run the business $1,500 per month.
Benefits ­ Benefits will be provided after the first year for full­time employees.
Salaries ­ I have two full­time employees that will be paid $2000/per month the first year,
and then the 2nd year they will be paid $2,500/month the second year, and then
$3,250/month the third year. This of course will only increase per employee and based on
retention and merit. As the business grows, their salaries will grow as long as they stay
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loyal and work hard. This will be adjusted if after their yearly performance check has gone
well. I have made the choice to not take home a salary until our net profits are sufficient
enough to do so. I plan on being able to take home a salary after year 3. I am currently
100% supported by my spouse who provides insurance for me as well.
Payroll taxes ­ This is 8% of Salaries and Variable Labor costs
Security ­ ADT will provide us with security for $150 and month for our offices. During
busy seasons where theft is more prevalent, we will be running tighter security and we
have estimated costs for that.
Depreciation ­ I have averaged out depreciation at $75/month for the first year, and have
increased that with the increase of materials and supplies.
Maintenance ­ This includes repairs on any equipment/buildings that the business needs.
I have not factored in costs for this for the first year in hopes that our brand new
equipment should not need repairs the first year. However, I factor in repairs during slow
times, where repairs can be easily made without getting in the way of customers or sales.
Office Supplies ­ I have not factored these in the first year because they will be
purchased with our start­up costs. However, each year I have factored in about $100/year
for paper, pens, ink, clipboards, etc.
Advertising ­ In order to save money the first year, we will utilize social media,
word­of­mouth, and I will use personal funds to create fliers to pass out at food, music,
and wine festivals in the surrounding area. The second year, I will utilize newspapers, and
the same methods of advertising as the first year, along with a small radio ad to promote
seasonal happenings. The third year I will also increase the budget for advertising, and
will continue to do so with the growth of the business.
Total Operating Expenses ­ This is a sum of all the previous costs listed to run the
business.
IV. Other Expenses ­ this will be a sum of the principal from the loan owed plus an 8%
interest rate on the Loan from Wells Fargo.
Principal ­ This will be the agreed upon monthly payment for th $175,100 dollar loan over
a 15 year fixed payment. It comes to about $972/month.
Interest ­ the Interest rate is estimated to about 8%, which totals to about $77/month.
V. Total Expenses ­ This is a sum of the Operating Expenses and Other Expenses
VI. Net Profit ­ This is the difference between the Gross Margin (II.) and the Total Expenses
(V.)
VII. Cm. Profit ­ This is the cumulative profit that takes into consideration the month, quarter,
and year prior. The Total Cm. Profit on Year three is where the net profit for the business
is projected to be on March 2017.
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F.Cash Flow Projection ­ Year One
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b. Year Two ­ Quarterly
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b. Year Three ­ Yearly
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c. Notes of Explanation for Cash Flow
I. Sales ­ this is the cash inflow from retail sales and charged events
Retail ­ This is the projected sales (see income projections) for the business.
Classes ­ This is the projected sales of charged events that would cover classes, field
trips, seminars/ etc.
Other Sources ­ For the first year, as soon as the business starts up. I am going to put
in a
personal $15,000 from my savings into the business to cover startup costs and
and to help cover the negative cash flow for the first few months.
Total ­ This is the sum of sales, retail, and other sources
II. Cash disbur. ­ These are the cash disbursements made to run the business.
Cost of Goods ­ This will be the projected cost of goods for the business and fluctuate
with seasons and specials. (see income statements)
Variable Labor ­ This will be the labor needed to cover everyday sales and manual
tasks throughout the business. (see income statements)
Salaries ­ These are the fixed salaries that will increase with merit and retainment of
the specific employee.
Benefits ­ These will be offered after the first year and will only include health benefits.
Payroll Tax ­ This will be 8% of labor expenses
Utilities/Rent ­ These are a fixed cash disbursement at $1,500/month or $18,000/year
Depreciation ­ This is estimated and factored into the cash disbursements
Advertising ­ This will be $0 for the first year (explained in the notes of explanation on
pg. 23). It will increase year by year as the business continues to grow (percentages of
growth can also be seen on pg.18 on the 3 year summary income statement)
Security ­ This will be a fixed cost at $150/month and provided by ADT unless during
busier seasons where theft is more prevalent. I will provide extra security at this time.
Principal ­ This is the fixed 15 year loan payment agreed upon by the bank @ an
interest rate of 15%. This total comes to about $924/month
Interest ­ This is the interest on the loan at 15% which comes to about $77/month
Total Cash Dis. ­ This is the Total of all the cash disbursements.
III. Net Cash Flow ­ This is the difference between the Total Cash sales and the Total Cash
Disbursements
Cm. Cash Flow ­ This is the cash flow that takes into consideration the month, quarter,
or year before and eventually comes to a total cash base by the end of year three.
IV. Cash on Hand ­ This is part of the working capital that I use to have cash in the register in
order to make cash transactions for the first couple of days until a cash base is
established.
Opening Balance ­ This is the opening balance based on the previous months cash
flow and is calculated month to month. The cash balance starts off at $2000 and goes
from there
Plus CR ­ This is the restatement of the Cash Received for that month
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28.
Minus CD ­ This is the restatements of the Cash Disbursements for that month
Total ­ This is the sum of the CR and ­CD plus the opening balance.
G. Deviation Analysis
a. Year One ­ Monthly
1. April 2015
2. May 2015
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29.
3. June 2015
4. July 2015
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30.
5. August 2015
6. September 2015
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31.
7. October 2015
8. November 2015
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32.
9. December 2015
10. January 2016
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33.
11. February 2016
12. March 2015
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34.
13. Year 2 ­ 2016 (April ­ March)
14. Year 3 ­ 2017 (April ­ March)
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35.
Section 3: Supporting Documents
A.Resume
Resume of
Amanda Comer
7715 Old Bee Cave Rd 1250 New Hope Dr.
Austin, Texas 78735 Austin, TX 78759
512­380­2454 512­244­9457
Business Experience
(2006­2009) ­ Red Barn Nursery
Sales Manager
Oversaw sales and maintenance staff
(2010­2014) ­ Barton Creek Country Club
Golf Course Superintendent
Oversaw purchases, employees, and maintenance
of Barton Creek Golf Course
Education
BS in Horticultural Sciences at Texas Tech University
Minor in Golf Course Management/Turf Sciences
Special Abilities and Interests
VP of Alpha Kappa Psi ­ Eta Theta Chapter
­ TTU Business Fraternity
(2007 and 2009) ­ Golden Golf­course Award
Highly skilled in Quickbooks, Excel, Adobe Photoshop
Member of Austin Junior League
­ Participates in Community Service Monthly
Personal Information
35 years old and married
2 children ­ 7 and 12 years of age
References
Christopher Novak ­­­ 512­654­8948 ­­­ Previous employer ­­­ chris.novak@shi.org
Britton Gallagher ­­­ 214­657­3726 ­­­ President of AKP ­­­ brit.gal@sbcglobal.net
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36.
B.Credit Information
Credit Inquiry
Name: Amanda Comer Date of Birth:
12/29/79
Address: 1250 New Hope Drive Austin, Texas 78759
Telephone: 512­244­9457 Years there: 6 years
Former Address: 11526 Jollyville Rd. Austin, Texas 78728
Years there: 4 years
Marital Status: Married Name of Spouse: Charles Novak No. Dependents: 2
Employer: Club Corp ­ Barton Creek Country Club Years there: 4 years
Address: 8212 Barton Club Dr. Austin, Texas 78735
Phone: 512­359­7999 Kind of Business: Sports and Leisure Club
Position: Golf Course Superintendent Net income: $98,200
Former employer/address: Red Barn Nursery 12881 Pond Springs Rd. 78729
Spouse’s employer/address: SHI Corp. Barton Skyway Dr. 78735
Net income: $230,000 Other income: ­­­­­
Account Bank Acct. No Balance
Checking Chase Bank 1000657492334 $10,150
Wells Fargo 1000665399872 $5,678
Savings Wells Fargo 1000665399873 $145,000
Auto Owned: 2013 Acura TL Purchased from:McDavid Acura Austin $: 28,100
Financed By: RBFCU Balanced Owed: $8,500 Monthly: $430
Mortgage Payment/mo.: $2600 Paid to: Wells Fargo
Real Estate owned in name of: Charles Novak Prchs. Price: $320,000
Mtg. Balance: $250,000
Credit References and all debts owing ­­ other than above
Name Address Orig. amt. Balance Mo. Payment
Chase Bank 9739 Great Hills
Trail Austin, TX
78759
$15,000 $1,200 $600
RBFCU 3110 N. Lamar
Blvd. Austin, TX
78705
$17,000 $5,600 $320
Life Insurance amount: $500,000 Company: State Farm
Nearest Relative not living with me: Michelle Comer ­ 300 S Biscayne Blvd. Miami, FL 33131
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37.
C.Personal Balance Sheet
Amanda Comer
November 2, 2014
Assets
Current Assets
Cash $15,828
Savings $145,000
Total Current Assets $160,828
Fixed Assets
Vehicles $45,100
Home $320,000
Investments $7,500
Boat (inherited) $60,000
Total Fixed Assets $432,600
Total Assets $593,428
Liabilities
Current Liabilities
Mortgage Payments $2,800
Car Loan Payments $750
Credit Card Payments $600
Insurance Payments $1,200
Tuition Payments $1,200
Living Exp. (Utilities, food, etc.) $3,500
Total Current Liabilities $10,050
Long­term Liabilities
Mortgage Value $250,000
Car Loan Value $14,100
Credit Card Balance $1,200
Total Long­term Liabilities $265,300
Total Liabilities $275,350
Owner’s Equity $318,078
Total Liabilities and Networth $593,428
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38.
D.Cost of Living Expenses
Regular Monthly Payments
House Payments (Principal, interest, taxes,
insurance)
$3,952
Car Payments (including insurance) $1,000
Life Insurance Payments $500
Savings/investments $600
Total $6,052
Household Operating Expense
Telephone, Internet $200
Gas and electricity $1,000
Water $500
Other Household Expenses, repairs, mainten. $1,800
Total $3,500
Personal Expense
Clothing, Cleaning, Laundry $250
Medical Expenses $350
Education $1,200
Gifts and Donations $120
Travel $0­2000
Auto upkeep and gas $300
Miscellaneous $200­500
Food Expenses $1000
Total $3420­$5720
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39.
Taxes
Federal income tax $5,400
Total $5,400
Budget Summary
A. Income gross
­ Monthly total $28,333
Less Expense
Regular Monthly Payments $6,052
Household operating Expense $3,500
Personal Expense $3,420
Taxes $5,400
Total $9,961
B. Monthly Total Exp. $18,372
Savings (A­B) $9,961
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40.
E.Job Descriptions
Job Title Job Description Job Compensation
Owner ­ Amanda Comer Will oversee all daily operations
and financial operations. Will be in
charge of finances, buying
materials, and will meet weekly
with managers for updates and
reports
No salary will be collected until
business is making a sufficient
profit to do so.
Manager (2) Will directly oversee employees,
handle customer concerns and
service, will conduct interviews,
handle money at beginning of shift
and end. Will meet with owner
once a week on Saturday
mornings to update on problems
and suggestions on
improvements.
Minimum education req.­
Associates in Horticulture or
Business management
For the first year, employees will
make $2,000/month. A raise will
be increased by $500/year based
on merit and conduct.
Sales Employee (7­12) Will be responsible for cleaning,
upkeep, and displaying plant
materials and products. They will
also service customer’s needs and
questions. Rotational shifts will
include, cashier, stocking, floor
sales, and greenhouse
management.
Must be able to perform heavy
lifting, simple sales transactions,
and a basic knowledge of plants.
Paid hourly at $9/hour
Occasional Staff for Classes and
Seminars
The requirements for this job
depend on the season and the
event planned. Must have full
knowledge of what they are
teaching.
$150 per session
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41.
F.Letter of Intent
Amanda Comer
1250 New Hope Dr.
Austin, TX 78759
mandy@comer.io
November 13, 2014
Jonathan McFadden
Loan Officer
Wells Fargo Bank
10400 Research Blvd.
Austin, TX 78759
Dear Mr. Jonathan McFadden :
I am submitting this business proposal in order to acquire a loan of $175,100 from Wells
Fargo Bank in order to start up The Flowering Soul Garden Center at 7715 Old Bee Cave Rd.
Austin, Texas 78735, which includes hiring employees, retrofitting the land for the business, any
other expenses, and operational costs for the first year. The intent of this acquisition is based on
the following conditions.
The Flowering Soul intends to start up in April 2015. This garden center will set itself apart
by providing more than just a product, but a lifestyle, tips, and all unanswered questions about
sustainable and organic gardening. We will be open from Tuesday­Sunday from 9:00 a.m. ­ 6:00
p.m. (Holiday hours may vary). This has been a dream of mine since the beginning and I look
forward to putting in the hard work to make the dream happen. According to the table provided on
pg. 6, the need for the services that The Flowering Soul will provide are needed in the area we
will be servicing.
The loan is planned to be re­payed over a 15 year fixed loan with a requested interest rate
of 8%. This would come to about $972/month for principal and $77/month for interest. The assets
that I have more than cover the loan incase of business failure or default. My family is prepared to
take this risk as we are financially stable and this has been a long­time goal for our entire family.
I thank you for this time to read over my proposal for The Flowering Soul and hope to
continue this process with your bank.
This, however, is not an official agreement and terms should be negotiated and determined by
contract.
Respectfully Yours,
Amanda Comer
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