Outdoor Adventure Travel Company Business Plan
RAD-VENTURE
P.O. Box 58005
Reno, NV 89523
November 20, 1995
RAD-Venture presents a plan for a very unique business. RAD-Venture provides outdoor adventures to their many, adventure seeking clients. Whether clients are looking for an "extreme" adventure or a somewhat milder time outdoors, RAD-Venture has just the trip. Specializing in mountain biking tours, hiking and camping, the owners have found that they can run a successful and profitable business by using their expertise and talents, while doing something that they love and enjoy.
- EXECUTIVE SUMMARY
- HISTORY AND BACKGROUND
- CONCEPT
- MISSION STATEMENT
- OBJECTIVES
- MARKETING
- MARKET MIX AND SHARE
- COMPANY PARAMETERS
- MANAGEMENT
- PROJECT TIMING
- FINANCIALS
EXECUTIVE SUMMARY
The company name is RAD-Venture. It operates daily rentals and tours in Nevada, and multiday mountain bike tours throughout the national park regions of the Southwest. It is an adventure travel company (currently specializing in mountain bike touring) with plans to include additional recreational opportunities via an RAD-Venture Center in Cedar City, Utah.
RAD-Venture promotes human power and natural environment. The target market has been defined as special interest "adventure sports and travel." This market is young and growing rapidly.
The primary owners are Grant and Heidi Osborn. Together they have ten years of college education and experience in management and communications. The Osborn's focused their college education toward researching and designing RAD-Venture. They bring to the company both educational insight and "real life" experience.
RAD-Venture has many strengths. Led with innovative enthusiasm, it possesses exciting potential as one of the early companies in a young, growing industry. The intended Southern Utah location has an economic, demographic, and political base strongly conducive to the success of an outdoor adventure center. RAD-Venture has a history of highly satisfied customers and a quality brochure vital in an industry that is based on perception rather than reality. The purpose of this business plan is to solicit funds for a new outdoor RAD-Venture Center, featuring an indoor rock climbing gym, mountain bike touring headquarters, and outdoor adventure sports sales and services, RAD-Venture invites investors to participate in this new and prospering business. Take the time to learn about the company through this business plan. If you do wish to become a part of our growth, we look forward to meeting you again.
HISTORY AND BACKGROUND
During the 1992 Spring semester, UNLV student Grant Osborn undertook a marketing class project to hypothetically create an original, unique service for Las Vegas. He developed an operations and marketing strategy for a business which would theoretically deliver bicycles to Las Vegas hotel guests and take bike tours to nearby Red Rock Canyon.
Grant's wife, Heidi, knew this was an idea with great potential. She recognized an unanswered market and acted quickly. With student ambition, ideas, and determination, by April 10, 1992, a new bicycle rental and tour company, "RAD-Venture" was born. Grant and Heidi's remaining college years were suddenly directed toward researching and developing this new business venture.
From the Osborns' first two personal bikes used for rentals and a computer in the bedroom, the business grew, entirely self-supported, into a nationally-advertised operation complete with an office, a warehouse, high quality mountain bikes, tour equipment, and support vehicles—just in the first three years!
The focus of RAD-Venture has evolved with its growth. The once local Las Vegas rental and tour company has developed into a full support mountain bike tour operator with plans to outfit a variety of additional active sports as well. A new Outdoor RAD-Venture Center in Cedar City, Utah, will serve to facilitate these plans.
CONCEPT
The concept of an Outdoor RAD-Venture Center in Cedar City, Utah stems from two perceived needs of RAD-Venture. First, the need for a more stable (non-weather-dependent) indoor activity and retail base from which to balance the seasonal nature of adventure tourism, and secondly, the need for a base environment more central to popular outdoor adventure destinations.
The Outdoor RAD-Venture Center is designed to supply clothing, equipment, maps, rentals, shuttles, and tours for outdoor sports such as mountain biking, rock climbing, rafting, camping, skiing, hiking, and horseback riding. Two unique attractants are a world-class indoor rock climbing gym and the adjacent location to the Navajo path, a paved trail system popular for jogging and biking. Great mountain biking and rafting opportunities lie within ten miles of the RAD-venture Center's intended location. The center will also house the headquarters for RAD-Venture mountain bike tours in Utah, Arizona, Colorado, and New Mexico.
Cedar City, Utah is one of the gateway cities to the Grand Circle, known as "America's greatest concentration of scenic wonders." The proposed location in Cedar City has excellent freeway access and exposure. Sunny Southern Utah's abundant natural "adventure" resources, strong growing economy, and year round temperate climate provide the ideal environment for a new Outdoor RAD-Venture Center.
MISSION STATEMENT
RAD-Venture is designed to promote and operate outdoor adventure sports and travel. By offering nothing motorized, we celebrate human power and natural environment. We will be leaders in our industry through innovation and preservation. We will sustain a reputation of quality through excellent service, customer care, and a friendly, professional staff. Our guests are the focus of our company. We will generate a profit in an ethical manner while meeting and exceeding our guests' expectations.
OBJECTIVES
Short Term Objectives: One Year
Marketing
- Distribute RAD-Venture tour/rental fliers to Cedar City hotels, recreation information centers, Chambers of Commerce, and local colleges by February 15, 1995.
- Develop a new, more inclusive registration form to send out with our mountain bike tour brochure which includes information and photos of our two new tours and information on our new Outdoor RAD-Venture Center by December 15, 1995.
- Place ads in biking, sports, and mountain climbing sections of Cedar City yellow pages by November 15, 1995.
- Develop and distribute a brochure and brochure stand to 100 bike, ski, and climbing shops in northern Utah by February 25, 1995.
- Sponsor a grand opening party with food, discounts, and radio coverage.
Financial
- Update balance sheet by January 1, 1996.
- Secure financing by December 1, 1995.
- Gross $400,000 in 1996.
- Net five percent of gross in 1996.
- Have 1996 budget prepared by December 31, 1995.
Management Information Systems
- Complete computer training courses learning to use effectively applicable software programs by May 1, 1996.
- Incorporate an accounting program, by January 1, 1996 that will take care of monthly accounting and taxes.
- Purchase a new computer and monitor for use at the climbing gym desk with mountain climbing program by February 15, 1996.
- Transfer our HAISAR 486 to the new main office in Cedar City and add a modem line by February 15, 1996.
- Advertise on the Internet by December 31, 1995.
Human Resources
- Hire a full-time manager for rentals and tours and one part-time (on call) helper by Center opening date.
- Develop a pay structure and contract for manager incorporating commission by January 15, 1996.
- Hire two full-time employees, and apart-time (on call) hike tour guide, bike tour guide and rock climbing guide/instructor by opening date.
- Restructure the employee handbook by December 31, 1995.
- Make available a tax and insurance program for full-time employees by January 1, 1996.
Administrative Operations
- Register RAD-Venture as a trademark by July 1, 1996.
- Acquire necessary permits, for Taos, New Mexico, and Lake Tahoe, and Nevada tours by May 1, 1996.
- Lease a space in the Center to a dependable rafting tour and supply company by May 1, 1996.
- Create and offer three new tours for the 1997 tour schedule; (one with a warm winter location), and one new kind of tour (other than mountain biking) by September 15, 1996.
- Create, publish, and distribute a new color brochure or catalogue by September 15, 1996.
Mid-Term Objectives: Two to Four Years
Marketing
- Attend the INTERBIKE trade show once each year, in 1997, 1998 and 1999 and distribute brochures.
- Use the existing customer database to establish an advertising campaign in each major region with the most interest by December 1997, 1998 and 1999.
- Advertise mountain biking, rock climbing, and rafting trips in the classified sections often major magazines by December 31, 1998.
- Attend the Outdoor Activity Show once each year, in 1997, 1998, and 1999.
- Hold an indoor climbing competition and mountain bike festival in Spring 1997 and 1998.
Financial
- Gross $500,000 by 1997, and $700,000 by 1998.
- Net fifteen percent of gross in 1997 and 1998.
- Hire an accountant by January 1, 1997.
- Finance a new tour van by February 28, 1998.
- Sell used rental equipment the same year purchased.
Management Information Systems
- Purchase a new color scanner by January 1, 1997.
- Acquire training and equipment necessary to produce in-house color brochures and catalogues by January 31, 1997 (everything except final print).
- Purchase a copy machine for office by January 1, 1997.
- Train full-time employees on additional computer software.
- Equip each guide, office, and shuttle driver, with a two-way radio, and each tour with a cellular phone by January 1, 1997.
Human Resources
- Certify each new tour leader and re-certify continuing leaders by December 31, 1997, 1998, and 1999.
- Make and fill a full-time advertising and marketing position by January 1, 1999.
- Hire a bike tour guide who knows auto mechanics by January 1, 1999.
- Have a three-year average employee retention rate by December 31, 1998.
- Construct a student internship program with local colleges by November 30, 1997.
Administrative Operations
- Offer three additional adventure touring locations in the United States by July 31, 1997, 1998, 1999.
- Take complete inventory every six months in 1997, 1998, 1999.
- Review objectives and create new short-, mid-, and long-term objectives by December 31, 1997.
- Organize a community natural resource conservation event by July 1, 1997, 1998, 1999.
- Offer four hiking tours, rafting, and mountain climbing tours in the 1997 fall catalogue.
MARKETING
Industry History
The adventure sports and travel industry is considerably young. Not more than twenty years ago, the industry was almost unheard of. Statistics show a steady rise in adventure sport sales and tours. In 1970, the industry grossed about five million dollars. In 1983, it grossed more than five hundred million dollars. More people are becoming health conscious and looking for ways to incorporate fitness into their vacation. The maturity stage for this industry is not for another 20 years. With the right marketing decisions and proper timing, RAD-Venture will gain a comfortable portion of the market share as the adventure sports and travel segment grows into one of the larger vacation industries.
Target Market
RAD-Venture's target market is characteristically made up of recreational travelers with active lifestyles. This eliminates the greater portion of the travel industry, allowing RAD-Venture to focus more closely on its market demographics.
- Slightly more men than women participate in active travel/recreation.
- Most participants are professionals (one in three).
- Most participants are under the age of 50 (usually between 23-50), and there is an increasing number of children becoming involved-especially in mountain biking and indoor climbing.
- Half of tour participants are married and the other half are single traveling alone.
- Most mountain tour participants travel to place they have never been and are from lower elevation states and/or different geographic regions ie. Chicago, New York and Canada.
- Most participants have an "above average" income level.
- Most active travel participants read special interest publications such as: Outdoors, Mountain Climbing, and Terrain. Roughly half of participants are repeat customers and the other half are newcomers who rely primarily on word of mouth and magazine advertisements.
External Forces
Societal and Demographic Forces
Cedar City is one of the fastest growing areas in Utah due to its mild climate, quality of life, low crime, low cost of living, competitive construction rates, and recreation amenities. Cedar City has no current growth limits and the water tables are capable of supporting up to 200,000 residents.
The population is more representative of outdoor activity than the Las Vegas population. The World Junior Games and the famous Cedar City Marathon are two of the larger annual events supported locally. Cedar City also has several organized private outdoor oriented clubs such as the "Backcountry Club." The population breakdown (excluding the 65+ group) is complementary to RAD-Venture's market demographics.
| Population by age | |
| 0-17 | 36.2% |
| 18-24 | 10% |
| 25-44 | 22.5% |
| 45-64 | 15% |
| 65+ | 16.2% |
| Population | |
| Source: Utah Office of Planning and Budgets Population Highlights | |
| 1990 | 48,560 |
| 1993 | 59,080 |
| 1994 | 63,400 |
| 1995 | 65,000 |
| 2000 | 81,840 (est.) |
| Male | 49.1% |
| Female | 50.9% |
| Source: Utah Department of Employment Security | |
| Median age | 33 |
| Birth rate (Utah) ranked second highest in U.S. |
21.1 per 1000 |
| Death rate (Utah) ranked second lowest in U.S. |
5.6 per 1000 |
| Household Size | 3.1/household |
Economic Forces
Travel and tourism, the industry RAD-Venture is based on, is Utah's third largest industry behind real estate and construction (number one), and retail (number two). The Utah Travel Council encourages business and private input on the development of tourism through public meetings statewide. Collin Wells, Director of the Utah Travel Bureau said, "For the $3.27 billion industry to succeed, we must have the recommendations and support of the private and public sectors to do the best job we can to not only attract visitors, but further utilize the tourism industry as an economic development resource." It is in RAD-Venture's best interest as well, to actively participate in community and government affairs.
Cedar City currently attracts more than two million international visitors annually. Cedar City is so confident in its economic strength and potential, it is building a large-scale convention center, park, and sizable hotel in 1996. This will attract more of the "professional" status people that figure so prominently in RAD-Venture's market profile.
Utah, especially Southern Utah's, economic strength is stable and growing. During the past decade, Utah's economy ranked among the highest in the nation with a 5.3 percent increase in new jobs while maintaining one of the lowest unemployment rates.
| Increase of New Jobs (1988-1992) |
|
| Source: Utah Department of Employment Security | |
| Cedar County | 161% |
| Utah | 37% |
| Unemployment Rate August 1995 | |
| Source: Utah Department of Employment Security | |
| Cedar County | 3.2% |
| Utah | 3.4% |
| USA | 6.8% |
Legal and Political Forces
Cedar City is receptive to tourism/recreation industries. A division of the city, Recreational Services, is responsible for providing information and organized leisure activities through local recreation businesses and nonprofit organizations. They currently distribute flyers about hikes, camps, youth activities, fun runs, and marathons. The City Parks Division is planning to expand the river biking/jogging path northeast, southwest along the river, and more extensively through the city to connect a network of city parks.
Other relevant government publics are the federal land managers; Bureaus of Land Management, U.S. Forest Service agencies, National Park Systems, and state lands. RAD-Venture has existing positive working relationships with these agencies through its mountain bike tour history.
RAD-Venture is government approved for tours in, around, or through:
- Sun National Park NPS
- Water Ridge Canyon National Park NPS
- Dying Tree National Park NPS
- Cactus Land National Park NPS
- Red Stone Recreational Area NPS
- Ledge National Park NPS
- Jones Canyon National Recreation Area BLM
- Sierra Canyon National Conservation Area BLM
- Almond National Forest USFS
- Fossil National Forest USFS
Competitive Forces
The Outdoor RAD-Venture Center as a whole will have no direct competitors, in that its combination of adventure services and sales is unique to the area. There will, however, be direct competition with certain departments within the center.
The rock climbing gym will have no direct local competitors, because the closest rock climbing gyms are more than 120 and 240 miles away, respectively.
The adventure equipment rentals and tours will have some competition (only in the sports of mountain biking or rock climbing) with a few local stores: Bailey's Cycles, Mountain Biking, Inc. and the Cycling Cove. We feel that a recreational adventure center will provide the necessary edge on equipment rental and tour competition.
The following stores constitute local competition with biking, climbing, hiking, and/or camping sales within the adventure center: Bailey's Cycles, Mountain Biking, Inc., Cycling Cove, Mountain Outfitters, and Trails End. RAD-Venture has secured the accounts of two lines of bicycles which are flashy, high quality, and relatively low priced. To further distinguish our store from competitors, bicycles and other equipment will be on display with "testers" for rent with a philosophy of "Try it on for size, Rent before you buy."
The following companies, none of which are local, are in direct competition with RAD-Venture's multi-day mountain bike tours: Southwest Tours, Trail Dust, Living Bike Tours, and Natures Best. Since most western bicycle tour companies offer tours in the same areas, competition is strong. For example, the off-road Western Tour of Nevada, which in the last two years was created and toured almost exclusively by RAD-Venture will next season be offered by four additional national tour companies. Most tour companies rely on a combination of brochure mailers and travel listings in national special interest publications to promote their tours. RAD-Venture is listed in eight national magazines and has produced a highly competitive color brochure for distribution. RAD-Venture has also composed a promotional tour video to show at the Outdoor RAD-Venture Center, at conventions, and to distribute to interested parties.
The two largest concerns with competitive forces are sales (especially of bicycles) and multi-day tours. The local market is already saturated with bike stores and camp/hike/climb stores. The market is wide open, however for rentals, tours and indoor climbing. The Center is designed to benefit from, but not depend on, retail sales. A potential multi-day tour guest has many outfitters to choose from when planning a mountain bike vacation. An adventure center from which multi-day tours may begin or end, will provide a more established company image for vacationers to consider when choosing. By offering a center with multiple, complementary adventures, RAD-Venture intends to attract people inside, and once inside, present a fun, inviting "hangout" atmosphere to create loyalty, increased interest, and repeat business.
MARKETING MIX AND SHARE
Product
RAD-Venture, through its new Center, will offer many products and services for the outdoor enthusiast.
RAD-Venture will sell and rent biking, hiking, camping, and climbing essentials and gear. National brand products will be used for their quality and name recognition. RAD-Venture will also sell its own line of products; humorous, creative activewear designed exclusively by RAD-Venture staff.
Pricing Strategy
The adventure sports industry has extreme pricing methods. Tour companies tend to offer either very expensive or very inexpensive tours. Middle range prices are rare. Many inexpensive tours follow the same routes as the expensive tours, but without the support or amenities. RAD-Venture tours currently fall into the expensive category, with full support and many amenities. With the addition of an outdoor adventure center offering shuttles, maps, sales, and rental equipment separately, our market share will broaden to include participants of less expensive, self-supported adventures as well.
As business increases, RAD-Venture can offer new products and services with new prices. A variety of high, medium and low priced, self to full-supported adventures will allow changing prices without changing guest perception. To start:
- The climbing gym will be medium-low priced to encourage frequent attendance.
- The rentals and local tours will be average priced for Cedar City, but lower than Las Vegas rentals and tours, due to the nature of tourist/local demographics.
- The bicycles and other adventure equipment will be high quality, medium to high priced, with low priced sales available on used equipment.
Promotion
Besides the necessary high cost special interest publication travel listing, RAD-Venture will institute several low cost ideas for the promotion of the Outdoor RAD-Venture Center:
- Offer referral commission to the two service stations in Cedar City who advertise that they are the "recreation information" headquarters for the area.
- Offer rock climbing clinics for school children, and help start climbing clubs in the local school system.
- Offer free lifetime memberships to college students in return for helping build the climbing walls, with the double intention they'll talk about it on campus and return with paying friends.
- Distribute fliers to local hotel front desks (with commission notes), recreation centers, Chambers of Commerce, and local colleges.
- Add an insert to the mountain bike tour brochure highlighting the new services, products, and adventure center.
- Set up an lemonade stand next to local jogging and bike trails on weekends.
- Plans also include concentrated advertising in Northern Utah during the winter months as an escape from the snow and cold.
COMPANY PARAMETERS
Name
RAD-Venture (DBA)
Location
Mailing: Post Office Box 58005, Reno, Nevada
Outdoor Adventure Center: Location pending Cedar City, Utah
Personnel
Owners - Grant and Heidi Osborn
Rental/Tour Manager (Winter) - Jackson Edwards
Multi-day Tour Guide (Summer) - Jackson Edwards
Rock Gym Manager/Climbing Trainer & Guide - Brent Salome
Adventure Equipment Sales/Rental Tours - TBA
Part-Time Tour Guide - John Raymond
Part-Time Help for Tours - Jonesy
Summer Tour Guide - TBA
Part-Time Help for Center - TBA
Legal Structure
RAD-Venture is a sole proprietorship in Grant Osborn's name. It is licensed for business throughout the city of Reno, Nevada.
Pending Cases
- RAD-Venture does not have any cases pending against it.
Insurance
- RAD-Venture assets are insured by Coleman Insurance Co.
- RAD-Venture vehicles are insured by Living Well Insurance Co.
- RAD-Venture liability is insured by Coastal Community.
Publications
RAD-Venture has been featured in the following national publications: Wardzen World News, Nouveau Fashion, and Cycle Today. The following publications list RAD-Venture on a monthly basis in their travel directories; Terrain, Cycle Tours, Guide, Western Trails, Airborne, Utah Magazine, Outdoors, Sports Journey, and Area Events and Attractions. RAD-Venture is listed bi-annually in the Official Las Vegas Guidebook.
Professional Representatives, Agents, and Suppliers
Attorney: Alex Carter
Henderson, Nevada
Accountant: Johnston Accounts
Las Vegas, Nevada
| Key Accounts: | Jacobs |
| Desert Lands | |
| American Dreams | |
| Paradise Resorts, Inc. |
Bike Equipment/Supplies:
Western
(bike parts and equipment)
Hold On
(bike holders for vehicles)
Mountain Treads (East)
(mountain bike sales and rentals)
Mountain Treads (West)
Supplier of mountain and cross bikes and parts)
Jameson Inc.
(bike parts and equipment)
Speed Cycles
(mountain bike sales and rentals)
Shock Supply
(shocks for bikes)
Rock Climbing Equipment:
Mount Climb
(supplier of complete climbing equipment)
Rock Pit
Horizon
(supplier of complete climbing equipment)
Xay's Climbing Supply
(supplier of complete climbing equipment)
Outdoor Equipment/Supplies/Clothing:
Backcountry Gear
(bike gear and related products)
Mountain Stream
(camping chairs)
Johnson Printing
(RAD-Venture shirts and hats)
Comfies
(Clothing, hats, accessories)
Energy Food
(energy food)
Camping To Go
(bike packs and day packs)
Hannah's
(sleeping bags)
Biker Duds
(biker clothing)
Green's Packs
(mountaineering and bike packs)
Aqua Pro
(filtered water bottles)
MANAGEMENT
Team Synergy
Team synergy is probably the most important aspect of holding any company together—especially ours. If each employee was asked to explain his or her behavior and role in the company, we would still not understand RAD-Venture as a whole. The relationships between our team members bear a "bonding" strength, that transpires as a result of pride in a small growing company, responsibility for guests' safety and satisfaction, the encouragement of new ideas, and the love of the work. Customers can sense and find security in this cohesion.
Crisis Management Plan
In the event of absence of one or both of the owners, a full-time employee (back-up manager) will be previously trained to run all aspects of the business. Ownership will be willed to a third party in the immediate family. General Managership will be willed to the back-up manager. To secure the business against natural disaster, fire, or other unforeseen destruction of property, RAD-Venture will be fully insured for reimbursement of value and continuation of business. All essential documents and computer programs and records (downloaded monthly) will be stored in a fire-proof safe.
PROJECT TIMING
RAD-Venture is beginning its fourth year of operation in Nevada, and its third year of backcountry tours in Southern Utah. The timing of the Outdoor RAD-Venture Center is significant both internally and externally to the company's progression.
Internally, RAD-Venture has established the general market peak of bicycle tours and rentals in its base city. The Nevada market contains a promising steady future, but a substantial increase in business is not likely. Entering its fourth year of exclusive service to Nevada, RAD-Venture has nursed the bicycle rental/tour product through inception, growth, and as it begins to level out, the early stages of maturity. To ultimately ensure growth with the industry, and avoid dependency on the product, an adventure tour business must always be open to new products and destinations.
Externally, immediate action on an Outdoor RAD-Venture Center is important because the window of opportunity is open for a short time only. The demand (for a rock climbing gym and/or adventure tour service) has been established in many communities, and the supply has not yet arrived in Southern Utah. If RAD-Venture does not act soon, it is likely someone else will.
RAD-Ventures' mission is to be a leader in the adventure sports and travel industry, not a follower. The following is a chronological list of achievements needed for the Outdoor RAD-Venture Center to open in the next few months.
- Secure a small business loan for the Center.
- Build a six thousand sq. ft. building (at least half of it 30 feet tall).
- Design interior of building to code and build to facilitate: l) a rock climbing gym, 2) a store for outdoor recreation rentals, tours, and sales, and 3) tour headquarters.
- Stock inventory.
- Relocate main offices from Reno, Nevada to Cedar City, Utah.
- Hire full-time Tour Manager, and part-time tour guide.
- Hire a full-time rock climbing gym manager, and two part-time employees/guides.
- Institute a grand opening celebration.
FINANCIALS
| Working Capital | |
| Description | Price |
| Training | $1,000 |
| Prepaid Mortgage & Repayment of Debt | $18,000 |
| Adm. Costs | $2,000 |
| Grand Opening | $5,000 |
| Advertising/Other | $4,000 |
| Working Capital Opening Day | $30,000 |
| Total | $60,000 |
Balance Sheet November 20, 1995
| Assets | Liabilities and Owners Equity | ||
| Cash | $6,426 | ||
| Temporary Cash Investments | $0 | Liabilities: | |
| Marketable Securities | $0 | Notes Payable | $8,600 |
| Accounts Receivable | $1,116 | Accounts Payable | $0 |
| Less: Doubtful Accounts | $0 | Federal Tax | $1,025 |
| Inventories | $425 | Deffered Income Tax | $2,325 |
| Prepaid Insurance | $2,687 | Advanced Deposits | $0 |
| Prepaid Advertising | $3,965 | Long Term Libilities | $13,179 |
| Bicycle Tour Equipment | $9,927 | ||
| Trucks/Vans/Trailer | $53,000 | Total Liabilities: | $25,129 |
| Mountain Bikes | $17,650 | Less: Depreciation | −$1,800 |
| Furnishings/Office Equip. | $5,775 | Owners Equity: | |
| Osborn, Grant & Heidi | $81,317 | ||
| Intangible Assets: | |||
| Trademarks | $75 | ||
| Permits/Licenses | $7,200 | ||
| Goodwill | $0 | ||
| Other Assets | $0 | ||
| Total Assets: | $106,446 | Total Liabilities & Owners | $106,446 |
Balance Sheet Breakdown
| Inventories: | |
| T-Shirts | 240 |
| Bike Parts | 85 |
| Prepaid Insurance: | |
| 4×4 van | 1250 |
| 4×4 truck | 300 |
| Lexmark van | 120 |
| Janes van | 150 |
| Theft/Fire | 572 |
| Liability | 295 |
| Prepaid Advertising: | |
| Outside | 1140 |
| MBA | 50 |
| MB | 85 |
| MJ | 175 |
| Bicycling | 202 |
| Bike | 88 |
| NV. Mag. | 225 |
| Brochures | 2000 |
| Bicycle Tour Equipment: | |
| Cam Corder | 600 |
| Camera (still) | 1375 |
| Leader Paks | 400 |
| Other | 100 |
| Pots/Pans | 400 |
| Cookers | 130 |
| Crates | 240 |
| Sleep Bags | 100 |
| Pillows | 75 |
| Pads | 75 |
| Tents | 400 |
| Dutch Ovens | 240 |
| Utensils | 100 |
| Pumps | 120 |
| Seat Kits | 140 |
| Hip Packs | 300 |
| Gloves | 200 |
| Helmets | 460 |
| Trainers | 160 |
| Gear Bags | 85 |
| Bottles | 50 |
| Locks | 215 |
| Gel Seats | 75 |
| Radios | 2000 |
| Cell Phones | 400 |
| Water Coolers | 180 |
| Blue Jugs | 90 |
| Car Racks | 100 |
| Stands | 42 |
| Tools | 200 |
| 1st Aid | 200 |
| Dinner Wear | 150 |
| Camping Cookers | 75 |
| Simmons 4×4 Van | 29065 |
| Crest 4×4 Truck | 12035 |
| Janes Van | 5300 |
| Lexmark Van | 3000 |
| Trailer | 3600 |
| 30 Bikes | 17650 |
| Computers | 2000 |
| Printer | 1000 |
| Fax | 250 |
| Software | 1000 |
| Welder | 275 |
| Compressor | 250 |
| Power Tools | 250 |
| Bike Hangers | 200 |
| Bike Rack | 150 |
| Tables | 100 |
| Cabinets | 50 |
| Work Benc | 75 |
| Vaccum | 25 |
| Misc. | 150 |
| 1996 Cash Flow Forecast and Breakeven Point | ||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | |
| Cash | ||||||||
| Cash in Bank | 486000 | 109549 | 103549 | 30000 | 29648 | 35441 | 56464 | 69742 |
| Cash in Investments | 0 | 0 | 0 | 0 | 0 | |||
| Total Cash | 486000 | 109549 | 103549 | 30000 | 29648 | 35441 | 56464 | 69742 |
| Income | ||||||||
| Cash Sales: | ||||||||
| Local Rentals & Tours | 1200 | 1100 | 700 | 300 | 500 | |||
| Multiday Tours | 4000 | 9000 | 30000 | 24000 | 37000 | |||
| Adventure Shop Sales | 10000 | 12100 | 10900 | 9800 | 8700 | |||
| Climb Gym Dues/Rentals | 8400 | 9200 | 10200 | 10200 | 11200 | |||
| Investment lncome | ||||||||
| Loans | ||||||||
| Rentals/Tour Net Income | 3000 | 2500 | 1500 | 800 | 200 | |||
| Ski Shuttles Net Income | 0 | 0 | 0 | 0 | 0 | |||
| Total Income | 0 | 0 | 0 | 26600 | 33900 | 53300 | 45100 | 57600 |
| Total Cash Income | 486000 | 109549 | 103549 | 56600 | 63548 | 88741 | 101564 | 127342 |
| Expenses | ||||||||
| Operating Expenses | 3000 | 3000 | 3000 | 15457 | 14757 | 14957 | 15457 | 14957 |
| Cost of Goods Sold | 8495 | 10350 | 14320 | 13365 | 16845 | |||
| Repayment of Debt | 3000 | 3000 | 3000 | 3000 | 3000 | 3000 | 3000 | 3000 |
| Capital Investment/Building | 300000 | 0 | 0 | |||||
| Construction/Climbing Walls | 66451 | 0 | 0 | |||||
| Inventory Purchases & Investment | 0 | 0 | 59549 | |||||
| Grand Opening | 4000 | 0 | 8000 | |||||
| Total Expenses | 376451 | 6000 | 73549 | 26952 | 28107 | 32277 | 31822 | 34802 |
| Cash Flow (Month) | −376451 | −6000 | −73549 | −352 | 5793 | 21023 | 13278 | 22798 |
| Cash Position | 109549 | 103549 | 30000 | 29648 | 35441 | 56464 | 69742 | 92540 |
| Sept | Oct | Nov | Dec | Jan | Feb | Mar | Totals |
| 92540 | 101308 | 108066 | 110879 | 108537 | 99745 | 91293 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 92540 | 101308 | 108066 | 110879 | 108537 | 99745 | 91293 | |
| 1600 | 2400 | 1700 | 300 | 480 | 500 | 1800 | 12580 |
| 15000 | 10500 | 1500 | 400 | 0 | 800 | 6500 | 138700 |
| 12900 | 13800 | 13800 | 17500 | 7500 | 9250 | 12100 | 138350 |
| 8060 | 7560 | 11200 | 7260 | 2830 | 6260 | 8200 | 100570 |
| 1200 | 2200 | 1200 | 0 | 0 | 1100 | 3200 | 16900 |
| 0 | 0 | 0 | 350 | 2000 | 1100 | 400 | 3850 |
| 38760 | 36460 | 29400 | 25810 | 12810 | 19010 | 32200 | 410950 |
| 131300 | 137768 | 137466 | 136689 | 121347 | 118755 | 123493 | |
| 14757 | 14557 | 14457 | 13957 | 14157 | 18457 | 13957 | 188884 |
| 12235 | 12145 | 9130 | 11195 | 4445 | 6005 | 12345 | 130875 |
| 3000 | 3000 | 3000 | 3000 | 3000 | 3000 | 3000 | 45000 |
| 300000 | |||||||
| 66451 | |||||||
| 59549 | |||||||
| 12000 | |||||||
| 29992 | 29702 | 26587 | 28152 | 21602 | 27462 | 29302 | |
| 8768 | 6758 | 2813 | −2342 | −8792 | −8452 | 2898 | 64191 |
| 101308 | 108066 | 110879 | 108537 | 99745 | 91293 | 94191 |
| Outdoor Adventures - Cedar City - 1996 Projected Sales Forecast | ||||||
| April | May | June | July | Aug. | Sept. | |
| Local Rentals/Tours | ||||||
| Tours | 600 | 800 | 500 | 200 | 400 | 1000 |
| Rentals | 600 | 300 | 200 | 100 | 100 | 600 |
| Total Local Rentals/Tours | 1200 | 1100 | 700 | 300 | 500 | 1600 |
| Multiday Tours | ||||||
| Sun | ||||||
| Water Ridge | 4000 | 5000 | 13000 | 8000 | ||
| Dying Tree | 2000 | |||||
| Cactus Land | 3000 | |||||
| Jones to Ledge | 7000 | 6000 | 6000 | 7000 | ||
| Jones to Sierra | 4000 | 6000 | ||||
| Sierra | ||||||
| Red Stone | 3000 | |||||
| Beginner Almond | 3000 | |||||
| Fossil Finder | 4000 | 6000 | 4000 | |||
| Sun, Fossil and Ledge | ||||||
| Sierra Rad | 6000 | |||||
| Waterways | 6000 | |||||
| Dying Tree & Cactus | ||||||
| Custom Tours | 6000 | 5000 | 5000 | |||
| Other | ||||||
| Total Multi-Day Tours | 4000 | 9000 | 30000 | 24000 | 37000 | 15000 |
| Adventure Shop Sales | ||||||
| RAD-Venture Clothing | 1000 | 1000 | 1000 | 1000 | 900 | 1000 |
| Other Clothing | 1000 | 1100 | 900 | 800 | 800 | 900 |
| Equip, and Components | 5000 | 5000 | 4000 | 3000 | 3000 | 5000 |
| Bike Sales | 3000 | 5000 | 5000 | 5000 | 4000 | 6000 |
| Total Shop Sales | 10000 | 12100 | 10900 | 9800 | 8700 | 12900 |
| Climb Gym Dues/Rentals | ||||||
| Day Pass | 3200 | 3500 | 3500 | 3500 | 3500 | 2520 |
| Memberships | 700 | 700 | 700 | 700 | 700 | 540 |
| Membership Initiations | 300 | 400 | 300 | 230 | 230 | 200 |
| Specials | 700 | 600 | 1700 | 1770 | 2770 | 1800 |
| Equipment | 3500 | 4000 | 4000 | 4000 | 4000 | 3000 |
| Total Gym Dues/Rentals | 8400 | 9200 | 10200 | 10200 | 11200 | 8060 |
| 1996 Projected Sales Recap | ||||||
| Local Rentals/Tours | 1200 | 1100 | 700 | 300 | 500 | 1600 |
| Multiday Tours | 4000 | 9000 | 30000 | 24000 | 37000 | 15000 |
| Adventure Shop | 10000 | 12100 | 10900 | 9800 | 8700 | 12900 |
| Climb Gym Dues/Rentals | 8400 | 9200 | 10200 | 10200 | 11200 | 8060 |
| Total 1996 Projected Sale | 23600 | 31400 | 51800 | 44300 | 57400 | 37560 |
| 1996 Projected Expenses | ||||||
| Advertising | 2000 | 2000 | 2000 | 2000 | 2000 | 2000 |
| Vehicle Repair/Maintenance | 800 | 800 | 800 | 800 | 800 | 800 |
| Vehicle Loan Payments | 350 | 350 | 350 | 350 | 350 | 350 |
| Vehicle Insurance | 350 | 350 | 350 | 350 | 350 | 350 |
| Liability Insurance Bike | 50 | 50 | 50 | 50 | 50 | 50 |
| Liability Insurance Gym | 100 | 100 | 100 | 100 | 100 | 100 |
| Theft Insurance | 125 | 125 | 125 | 125 | 125 | 125 |
| Interest-Long Term | 0 | 0 | 0 | 0 | 0 | 0 |
| Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Totals |
| 1400 | 1100 | 200 | 180 | 200 | 1000 | 7580 |
| 1000 | 600 | 100 | 300 | 300 | 800 | 5000 |
| 2400 | 1700 | 300 | 480 | 500 | 1800 | 12580 |
| 1000 | 1500 | 400 | 800 | 2000 | 5700 | |
| 30000 | ||||||
| 2000 | ||||||
| 3000 | ||||||
| 26000 | ||||||
| 6000 | 16000 | |||||
| 4500 | 4500 | |||||
| 3500 | 6500 | |||||
| 3000 | ||||||
| 14000 | ||||||
| 6000 | ||||||
| 6000 | ||||||
| 16000 | ||||||
| 10500 | 1500 | 400 | 800 | 6500 | 138700 | |
| 1200 | 1100 | 1300 | 700 | 850 | 900 | 11950 |
| 1100 | 1200 | 1200 | 800 | 900 | 1200 | 11900 |
| 5000 | 5000 | 6000 | 3500 | 4500 | 5000 | 54000 |
| 6500 | 6500 | 9000 | 2500 | 3000 | 5000 | 60500 |
| 13800 | 13800 | 17500 | 7500 | 9250 | 12100 | 138350 |
| 2520 | 3500 | 2520 | 1160 | 2520 | 3200 | 35240 |
| 540 | 700 | 540 | 120 | 540 | 700 | 7280 |
| 200 | 300 | 300 | 200 | 400 | 200 | 3260 |
| 1300 | 2700 | 1200 | 0 | 100 | 600 | 15240 |
| 3000 | 4000 | 2700 | 1350 | 2700 | 3500 | 39750 |
| 7560 | 11200 | 7260 | 2830 | 6260 | 8200 | 100570 |
| 2400 | 1700 | 300 | 480 | 500 | 1800 | 12580 |
| 10500 | 1500 | 400 | 0 | 800 | 6500 | 138700 |
| 13800 | 13800 | 17500 | 7500 | 9250 | 12100 | 138350 |
| 7560 | 11200 | 7260 | 2830 | 6260 | 8200 | 100570 |
| 34260 | 28200 | 25460 | 10810 | 16810 | 28600 | 390200 |
| 2000 | 2000 | 2000 | 2000 | 2000 | 2000 | 24000 |
| 800 | 800 | 800 | 800 | 800 | 800 | 9600 |
| 350 | 350 | 350 | 350 | 350 | 350 | 4200 |
| 350 | 350 | 350 | 350 | 350 | 350 | 4200 |
| 50 | 50 | 50 | 50 | 50 | 50 | 600 |
| 100 | 100 | 100 | 100 | 100 | 100 | 1200 |
| 125 | 125 | 125 | 125 | 125 | 125 | 1500 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Outdoor Adventures - Cedar City - 1996 Projected Sales Forecast continued | ||||||
| April | May | June | July | Aug. | Sept. | |
| Interest-Short Term | 0 | 0 | 0 | 0 | 0 | 0 |
| Office Supplies | 350 | 350 | 350 | 350 | 350 | 350 |
| Mortgage Payment | 3000 | 3000 | 3000 | 3000 | 3000 | 3000 |
| Payroll-1 | 1000 | 1000 | 1000 | 1000 | 1000 | 1000 |
| Payroll-2 | 1000 | 1000 | 1000 | 1000 | 1000 | 1000 |
| Payroll-3 | 1000 | 1000 | 1000 | 1000 | 1000 | 1000 |
| Payroll-4 | 1000 | 1000 | 1000 | 1000 | 1000 | 1000 |
| Payroll-5 | 500 | 500 | 500 | 500 | 500 | 500 |
| 1099 Labor | 1000 | 800 | 1000 | 1000 | 1000 | 800 |
| Payroll Tax (18%) | 360 | 360 | 360 | 360 | 360 | 360 |
| Accountant | 80 | 80 | 80 | 80 | 80 | 80 |
| State Taxes | 0 | 0 | 0 | 0 | 0 | 0 |
| Licenses And Dues | 125 | 125 | 125 | 125 | 125 | 125 |
| Bank Charges | 700 | 700 | 700 | 700 | 700 | 700 |
| Trade Shows | 0 | 0 | 0 | 0 | 0 | 0 |
| Phones (800 #, Cell, Etc.) | 367 | 367 | 367 | 367 | 367 | 367 |
| Utilities | 200 | 200 | 200 | 200 | 200 | 200 |
| Research and Tour Development | 500 | 0 | 0 | 500 | 0 | 0 |
| Rental Bikes | 0 | 0 | 0 | 0 | 0 | 0 |
| Tour Equipment | 500 | 500 | 500 | 500 | 500 | 500 |
| Total Expenses | 15457 | 14757 | 14957 | 15457 | 14957 | 14757 |
| 1996 Cost of Goods Sold | ||||||
| Local Rentals/Tours-COS | ||||||
| Cedar City Tours | 120 | 100 | 120 | 40 | 70 | 60 |
| Cedar City Rentals | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Local Rental/Tours | 120 | 100 | 120 | 40 | 70 | 60 |
| Multiday Tours-COS | ||||||
| Sun | ||||||
| Water Ridge | 1500 | 1800 | 3500 | 2000 | ||
| Dying Tree | 800 | |||||
| Cactus Land | 1100 | |||||
| Jones to Ledge | 2000 | 2000 | 2000 | 2000 | ||
| Sierra | 2000 | 2000 | ||||
| Red Stone | ||||||
| Beginner Almond | 800 | |||||
| Fossil Finder | 800 | |||||
| Sun, Fossil & Ledge | 800 | 1200 | 800 | |||
| Sierra & Sun | ||||||
| Sierra Rad | 2500 | |||||
| Waterways | 2200 | |||||
| Dying Trees & Cactus | ||||||
| Custom Tours | 1800 | 1500 | 1500 | |||
| Other | 2000 | 2800 | 9400 | 7300 | 11100 | 4000 |
| Total Multi-Day Tours-COS | 2000 | 2800 | 9400 | 7300 | 11100 | 4000 |
| Adventure Shop Sales-COS | ||||||
| Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Totals |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 350 | 350 | 350 | 350 | 350 | 350 | 4200 |
| 3000 | 3000 | 3000 | 3000 | 3000 | 3000 | 36000 |
| 1000 | 1000 | 1000 | 1000 | 1000 | 1000 | 12000 |
| 1000 | 1000 | 1000 | 1000 | 1000 | 1000 | 12000 |
| 1000 | 1000 | 1000 | 1000 | 1000 | 1000 | 12000 |
| 1000 | 1000 | 1000 | 1000 | 1000 | 1000 | 12000 |
| 500 | 500 | 500 | 500 | 500 | 500 | 6000 |
| 600 | 0 | 0 | 0 | 0 | 0 | 6200 |
| 360 | 360 | 360 | 360 | 360 | 360 | 4320 |
| 80 | 80 | 80 | 80 | 80 | 80 | 960 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 125 | 125 | 125 | 125 | 125 | 125 | 1500 |
| 700 | 700 | 700 | 700 | 700 | 700 | 8400 |
| 0 | 0 | 0 | 0 | 4000 | 0 | 4000 |
| 367 | 367 | 367 | 367 | 367 | 367 | 4404 |
| 200 | 200 | 200 | 200 | 200 | 200 | 2400 |
| 0 | 500 | 0 | 200 | 500 | 0 | 2200 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 500 | 500 | 500 | 500 | 500 | 500 | 6000 |
| 14557 | 14457 | 13957 | 14157 | 18457 | 13957 | 179884 |
| 120 | 80 | 70 | 20 | 80 | 120 | 1000 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 120 | 80 | 70 | 20 | 80 | 120 | 1000 |
| 250 | 300 | 150 | 0 | 250 | 400 | 1350 |
| 8800 | ||||||
| 800 | ||||||
| 1100 | ||||||
| 8000 | ||||||
| 2000 | 6000 | |||||
| 4500 | 4500 | |||||
| 1200 | 2000 | |||||
| 800 | ||||||
| 2800 | ||||||
| 2500 | ||||||
| 2200 | ||||||
| 4800 | ||||||
| 3450 | 300 | 150 | 0 | 250 | 4900 | 45650 |
| 3450 | 300 | 150 | 0 | 250 | 4900 | 45650 |
| Outdoor Adventures - Cedar City - 1996 Projected Sales Forecast continued | ||||||
| April | May | June | July | Aug. | Sept. | |
| RAD-Venture Clothing | 600 | 600 | 600 | 600 | 550 | 600 |
| Other Clothing | 650 | 700 | 550 | 475 | 475 | 500 |
| Equip, and Components | 3000 | 3000 | 500 | 1800 | 1800 | 3000 |
| Bike Sales | 2000 | 3000 | 3000 | 3000 | 2700 | 4000 |
| Total Shop Sales-COS | 6250 | 7300 | 4650 | 5875 | 5525 | 8100 |
| Climb Gym Dues/Rentals-COS | ||||||
| Day Pass | 0 | 0 | 0 | 0 | 0 | 0 |
| Memberships | 0 | 0 | 0 | 0 | 0 | 0 |
| Specials | 0 | 0 | 0 | 0 | 0 | 0 |
| Equipment Rentals | 125 | 150 | 150 | 150 | 150 | 75 |
| Total Gym Dues/Rentals-CO | 125 | 150 | 150 | 150 | 150 | 75 |
| 1996 Cost of Goods Sold Recap | ||||||
| Local Rentals/Tours | 120 | 100 | 120 | 40 | 70 | 60 |
| Multiday Tours | 2000 | 2800 | 9400 | 7300 | 11100 | 4000 |
| Adventure Shop | 6250 | 7300 | 4650 | 5875 | 5525 | 8100 |
| Climb Gym Dues/Rentals | 125 | 150 | 150 | 150 | 150 | 75 |
| Total 1996 Cost of Goods | 8495 | 10350 | 14320 | 13365 | 16845 | 12235 |
| Repayment of Debt (Interest) | 3000 | 3000 | 3000 | 3000 | 3000 | 3000 |
| Capital Expenditures | Used within repayment of debt during construction | |||||
| Expense Recap | ||||||
| Total Expenses | 15457 | 14757 | 14957 | 15457 | 14957 | 14757 |
| Total Cost of Goods Sold | 8495 | 10350 | 14320 | 13365 | 16845 | 12235 |
| Repayment of Debt | 3000 | 3000 | 3000 | 3000 | 3000 | 3000 |
| Total Capital Expenditure | 26952 | 28107 | 32277 | 31822 | 34802 | 29992 |
Assumptions to the Per Forma
In the Projected Sales Forecast, the extreme fluctuations in January and February's net income are a result of less mountain bike activity in cold weather and preparation costs for the upcoming multiday tour season.
In the Cash Flow Forecast and Break-even Point, the negative numbers in the first three months are due to building and start-up costs.
| Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | Totals |
| 700 | 650 | 700 | 375 | 450 | 500 | 6925 |
| 600 | 750 | 750 | 475 | 500 | 700 | 7125 |
| 3000 | 3000 | 3500 | 2000 | 2600 | 3000 | 30200 |
| 4200 | 4200 | 6000 | 1500 | 2000 | 3000 | 38600 |
| 8500 | 8600 | 10950 | 4350 | 5550 | 7200 | 82850 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 75 | 150 | 25 | 75 | 125 | 125 | 1375 |
| 75 | 150 | 25 | 75 | 125 | 125 | 1375 |
| 120 | 80 | 70 | 20 | 80 | 120 | 1000 |
| 3450 | 300 | 150 | 0 | 250 | 4900 | 45650 |
| 8500 | 8600 | 10950 | 4350 | 5550 | 7200 | 82850 |
| 75 | 150 | 25 | 75 | 125 | 125 | 1375 |
| 12145 | 9130 | 11195 | 4445 | 6005 | 12345 | 130875 |
| 3000 | 3000 | 3000 | 3000 | 3000 | 3000 | 36000 |
| 14557 | 14457 | 13957 | 14157 | 18457 | 13957 | 179884 |
| 12145 | 9130 | 11195 | 4445 | 6005 | 12345 | 130875 |
| 3000 | 3000 | 3000 | 3000 | 3000 | 3000 | 36000 |
| 29702 | 26587 | 28152 | 21602 | 27462 | 29302 | 346759 |
| Income History Tour and Rental Gross Receipts |
||||
| 1992 | 1993 | 1994 | 1995 | |
| Jan | $0.00 | $1,012.25 | $3,297.38 | $1,821.79 |
| Feb | $0.00 | $2,331.78 | $7,284.61 | $7,493.36 |
| Mar | $0.00 | $3,890.00 | $8,193.09 | $13,540.48 |
| April | $1,110.00 | $2,875.00 | $9,689.35 | $1,431.51 |
| May | $650.00 | $4,073.65 | $9,969.40 | $13,102.32 |
| June | $1,158.82 | $3,682.00 | $5,851.65 | $17,085.79 |
| July | $1,256.81 | $2,666.67 | $5,655.70 | $25,125.95 |
| Aug | $1,610.05 | $2,833.02 | $10,124.60 | $21,976.92 |
| Sept | $2,670.00 | $5,158.82 | $12,330.08 | $12,175.79 |
| Oct | $2,385.50 | $3,506.90 | $13,679.97 | $7,871.00 |
| Nov | $3,004.80 | $4,186.15 | $4,875.28 | |
| Dec | $1,376.15 | $2,515.61 | $1,479.97 | |
| Year-End Gross Totals | $19,587.13 | $38,731.85 | $88,931.06 | $134,512.91 |
| (Corresponding Net Totals) | $(863.27) | $(3,403.50) | $4,758.55 | $15,420.69 |
| Use of Funds Summary | |
| Building and Land | $300,000 |
| Climb Gym Construction | $66,530 |
| Working Capital | $60,000 |
| Inventories | $69,470 |
| Total needed funds | $496,000 |
| Building and Land Construction Cost | |
| Building and Pro Shop Construction | $185,000 |
| Land Cost | $115,000 |
| Total | $300,000 |