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Wednesday, August 26, 2009

Forget Adsense, Kenyan site owners can now actually earn money online

webPesa is East Africa's ad server intended to make advertising localized and revenue earning simple , fast and efficient. After signup you get your own control panel as an advertiser or a publisher. The best thing about this server is that payment starts at Ksh 500 and advertising for the same price. You however need a safaricom line that is mpesa activated and must be at least a resident of East Africa.
Easily manage your ad inventory.
webPesa Ad Server lets you organize and manage all of your ad inventory under one easy to use interface no matter how many websites you have. It works with all kinds of ad formats, ranging from simple banners to rich media. And it’s designed to deliver your ads as fast as possible, regardless of the number of ads on each page.


Deliver what you want to whom you want.

With webPesa Ad Server, you can manage and target your ads any way you want. Use prioritization controls to optimize how your ads are delivered. Use frequency controls to limit how often campaigns are shown. And use targeting to serve the most relevant ads to your audience. There’s no limit to the flexibility you have over the delivery of your ads.
Measure the performance of your ads.
webPesa Ad Server’s extensive set of reports provides comprehensive statistics on your websites and ad zones as well as your advertisers and ad campaigns. Get detailed breakdowns on ad delivery, conversions, revenue and more.
Benefits to site owners
This is why you will choose webpesa over adsense:

- Payment is by mpesa(whenever you need), no need to wait 2 weeks for cheque.

-Payments start at Ksh 500 unlike for adsense where you have to wait for it to reach US$100(about Ksh 8000)

-Account cannot be disabled without notification on abuse of service.

- Our service iswatched over by the Ministry of Information and Communication.
Benefits to publishers
- Own Control Panel to watch stats

- Choose target traffic

- Advertising rates start at Ksh 500 (cheapest ever)

- Designing of ads free

Sunday, August 23, 2009

Mashada. the ultimate web2.0?

If there is only one website management team in Kenya’s cyberspace industry that is always working round the clock to deliver, then its got to be the Mashada admin. I’ve seen the website transform from a basic phpBB powered forum t the country’s ultimate web2.0.

If you need to see a practical example of social media in action then this is where to go.

mashada

At the sign up page there is the option of using Facebook Connect.Facebook connect is an application that enables site owners to allow visitors acces their content using their facebook information. After accessing the site, you should be able to invite a limited number of your facebook friends, and even know of any of your friends who are already using the site. Plus, it alos publishes your activity stream on facebook wall.

One of the things that get to strike you at first is the twitter stream on the frontpage. Unlike most twitter streams embedded on websites, this one gives you updates from several users, and you may vote down or up an entry. Brilliant idea! Except that it may not be sensible if the tweets are frequent.

Mashada is in many ways like Haiya, which I reviewed recently, but from the word go, you realize that guys are more talkative here. The forums are well categorized( and “subcategorized”), and you get several responses on posting an interesting topic. Or any topic.

There is always a dozen ,or about, of people chatting in the Kahawa Chat. The chat interface has customizable settings for alerts, status and appearance. The desktop version is flashy, but I didn’t get the mobile version to work on my device. Maybe its the problem with the phone, or maybe the beta version doesn’t actually work. The system comes with normal chat functions like private rooms, customizable font etcetra.And one of the best things about it, you don’t need to sign up in order to start chatting. This is awesome for guys who are looking for a quick chat. But obviously you willl need to sin up to get offline messages and chat history.

Th blog aggregator is also commendable. It reads feeds from selected Kenyan blogs. I however don’t know their selection criteria because I tried getting a blog to be read but I haven’t got a reply yet.

Basically, Mashada is one site where you will not get bored, whether you are a normal person looking to talk politics or you are a nerd with time in his hands. It is not a just a customized open source script that was installed. They clearly know who they want to get there, how to keep guys there,armed with the latest skill on social media and good programming knowledge. Good work guys.

Thursday, August 6, 2009

Hacking Vista: Unlock the supersecret Administrator account

Deep inside the bowels of Windows Vista, there's a secret Administrator account, and it's different from the normal administrator account you most likely have set up on your PC. This Administrator account is not part of the Administrator group. (Confused yet? You should be.) It's a kind of superadministrator, akin to the root account in Unix, and by default it's turned off and hidden. (In describing this hack, we'll always use the capital "A" for the secret Administrator account, and a lowercase "a" for a normal administrator account.)

In versions of Windows before Windows Vista, the Administrator account wasn't hidden, and many people used it as their main or only account. This Administrator account had full rights over the computer.

In Windows Vista, Microsoft changed that. In Vista, the Administrator account is not subject to UAC, but normal administrator accounts are. So the Administrator can make any changes to the system and will see no UAC prompts.

Turning on the Administrator account is straightforward. First, open an elevated command prompt by typing cmd into the Search box on the Start menu, right-clicking the command prompt icon that appears at the top of the Start menu, then selecting Run as administrator -- or just use the shortcut you created in the previous hack.

Then enter this command and press Enter:

Net user administrator /active:yes

From now on, the Administrator account will appear as an option on the Welcome screen, along with any user accounts you may have set up. Use it like any other account. Be aware that it won't have a password yet, so it's a good idea to set a password for it.

If you want to disable the account and hide it, enter this command at an elevated command prompt and press Enter:

Net user administrator /active:no

Why Cloud Computing is the Future of Mobile

Source: readwriteweb

The term "cloud computing" is being bandied about a lot these days, mainly in the context of the "future of the web." But cloud computing's potential doesn't begin and end with the personal computer's transformation into a thin client - the mobile platform is going to be heavily impacted by this technology as well. At least that's the analysis being put forth by ABI Research. Their recent report, Mobile Cloud Computing, theorizes that the cloud will soon become a disruptive force in the mobile world, eventually becoming the dominant way in which mobile applications operate.

You may be wondering: what does the term "mobile cloud computing" really mean? Basically, it refers to an infrastructure where both the data storage and the data processing happen outside of the mobile device. Today, there are already some good examples of mobile cloud computing applications including mobile Gmail, Google Maps, and some navigation apps. However, the majority of applications today still do most of the data storage and processing on the mobile devices themselves and not in the cloud. In a few years, that could change.

Why Mobile Cloud Computing?

With a Western-centric view of the world, it can sometimes be hard to remember that not everyone owns a smartphone. There are still a large number of markets worldwide where the dominant phone is a feature phone. While it's true that smartphones will grow in percentage and feature phones will become more sophisticated in time, these lower-end phones are not going away anytime soon. And it's their very existence which will help drive the mobile cloud computing trend.

Not only is there a broader audience using feature phones in the world, there are also more web developers capable of building mobile web applications than there are developers for any other type of mobile device. Those factors, combined with the fact that feature phones themselves are becoming more capable with smarter built-in web browsers (and more alternative browsers available for download), will have an impact on mobile cloud computing's growth.

How Will Mobile Cloud Computing Become a Disruptive Force?

There are two primary reasons why ABI believes cloud computing will become a disruptive force in the mobile world. The first is simply the number of users the technology has the power to reach: far more than the number of smartphone users alone. The second reason has to do with how applications are distributed today. Currently, mobile applications are tied to a carrier. If you want an iPhone app, for example, you have to first have a relationship with the mobile operator who carries the iPhone. If you want a Blackberry app, the same rule applies. But with mobile clouding computing applications, as long as you have access to the web, you have access to the mobile application.

Moves by PaaS Players Could Change Everything

When you think of Plaform-as-a-Service (PaaS), one of the first companies that springs to mind is probably Salesforce. With their Force.com platform, business applications can be built and run "in the cloud." But Salesforce is not the only major PaaS player out there today - Amazon Web Services (AWS) and Google's App Engine are also two platforms that could have a major impact on this trend.

Currently, AWS is used by over half a million developers and Google's App Engine hosts 45,000 applications. Now imagine if those two companies along with Force.com all of a sudden started aggressively marketing their mobile capabilities. Today, neither AWS nor Google offers this, and Salesforce's mobile offering is limited to smartphones (Windows Mobile, Blackberry, and iPhone). But if the companies decided to make building for the mobile web as easy as building for the web, you could have a mobile revolution on your hands.

But People Like Apps!

Saying that "mobile cloud computing" is the future doesn't mean phones will be filled with links to websites that work in any browser instead of special, downloadable applications, some of which you can even purchase. Instead, mobile applications will exist in both formats. As for the downloadable applications themselves, they will still appear to be your typical mobile app - end users won't even notice a difference. However, there will be a difference - it will just be on the back-end. Mobile applications will begin to store your data in the cloud as opposed to on the mobile device, and the applications will become more powerful as processing power is also offloaded to the cloud.

The first mobile apps powered by the cloud will likely be business-focused mobile productivity applications where collaboration, data sharing, multitasking, and scheduling are key factors. For consumers, though, navigation and mapping applications will be the most obvious examples of the trend. Plus, there are some specialty applications today which already function as mobile cloud apps - for example, Schlage offers a remote keyless entry system which lets you mobilely control your home from a distance. You can let someone into your house, manage your lights, your thermostat, your camera system, etc. There are also a few applications in the iPhone app store that let you remotely manage your PC and your DVR, too.

Potential Problems

Of course, there are some potential issues that could be barriers to this shift in mobile computing. The most notable problem is the lack of speedy mobile Internet access everywhere. Here in the US, for example, 3G coverage is spotty outside urban areas, leading to intermittent connection issues and slow speeds. Other markets may have it even worse.

However, new technologies like HTML5, which does local caching, could help mobile cloud apps get past those sorts of issues. And there's even a chance that the browser could one day be replaced - at least in some markets - with another technology altogether which provides a better way to access the mobile web. ABI Research mentions initiatives like OMA's Smartcard Web Server, essentially a souped-up SIM card that connects directly with the carrier to push applications to mobile phones. There's also TokTok, a company whose technology allows access to web services like Gmail and Google Calendar by voice. With voice-enabled search like this, mobile apps could talk directly to the service itself which sits on the edge of the network, as opposed to needing the user to launch a web browser and navigate through the mobile web.

When Will Mobile Cloud Computing Really Take Off?

According to ABI, this change is only a few years away. By 2010, we'll see one or all of the major PaaS players marketing their mobile capabilities, they say. But first, API standards from open-source mobile collaboration group BONDI will go into effect. Later, in 2011, we'll see more of HTML5, and the OneAPI standard will come into play. (OneAPI involves standardized apps for networks allowing developers to consistently access parts of network providers' capabilities, such as location services). All these factors combined will help drive the move to the cloud.

The changes will occur with differing speeds depending on the market. Markets with higher Internet participation will obviously lead the way, as will markets with higher subscriber penetration. That includes Western Europe, North America, and parts of Asia. Other markets will then follow. By 2014, mobile cloud computing will become the predominant application development strategy. By that time, our PCs will be more like thin client devices than they are today, and now it seems our phones will too.

AI: Enter Neural Networks...(part1)

Introduction

This article is Part 1 of a series of 3 articles that I am going to post. The proposed article content will be as follows:

  1. Part 1: This one, will be an introduction into Perceptron networks (single layer neural networks)
  2. Part 2: Will be about multi layer neural networks, and the back propogation training method to solve a non-linear classification problem such as the logic of an XOR logic gate. This is something that a Perceptron can't do. This is explained further within this article
  3. Part 3: Will be about how to use a genetic algorithm (GA) to train a multi layer neural network to solve some logic problem

Let's start with some biology

Nerve cells in the brain are called neurons. There is an estimated 1010 to the power(1013) neurons in the human brain. Each neuron can make contact with several thousand other neurons. Neurons are the unit which the brain uses to process information.

So what does a neuron look like

A neuron consists of a cell body, with various extensions from it. Most of these are branches called dendrites. There is one much longer process (possibly also branching) called the axon. The dashed line shows the axon hillock, where transmission of signals starts

The following diagram illustrates this.

Figure 1 Neuron

The boundary of the neuron is known as the cell membrane. There is a voltage difference (the membrane potential) between the inside and outside of the membrane.

If the input is large enough, an action potential is then generated. The action potential (neuronal spike) then travels down the axon, away from the cell body.

Figure 2 Neuron Spiking

Synapses

The connections between one neuron and another are called synapses. Information always leaves a neuron via its axon (see Figure 1 above), and is then transmitted across a synapse to the receiving neuron.

Neuron Firing

Neurons only fire when input is bigger than some threshold. It should, however, be noted that firing doesn't get bigger as the stimulus increases, its an all or nothing arrangement.

Screenshot - BrainNeuronFiring.png

Figure 3 Neuron Firing

Spikes (signals) are important, since other neurons receive them. Neurons communicate with spikes. The information sent is coded by spikes.

The input to a Neuron

Synapses can be excitatory or inhibitory.

Spikes (signals) arriving at an excitatory synapse tend to cause the receiving neuron to fire. Spikes (signals) arriving at an inhibitory synapse tend to inhibit the receiving neuron from firing.

The cell body and synapses essentially compute (by a complicated chemical/electrical process) the difference between the incoming excitatory and inhibitory inputs (spatial and temporal summation).

When this difference is large enough (compared to the neuron's threshold) then the neuron will fire.

Roughly speaking, the faster excitatory spikes arrive at its synapses the faster it will fire (similarly for inhibitory spikes).

So how about artificial neural networks

Suppose that we have a firing rate at each neuron. Also suppose that a neuron connects with m other neurons and so receives m-many inputs "x1 …. … xm", we could imagine this configuration looking something like:

Figure 4 Artificial Neuron configuration

This configuration is actually called a Perceptron. The perceptron (an invention of Rosenblatt [1962]), was one of the earliest neural network models. A perceptron models a neuron by taking a weighted sum of inputs and sending the output 1, if the sum is greater than some adjustable threshold value (otherwise it sends 0 - this is the all or nothing spiking described in the biology, see neuron firing section above) also called an activation function.

The inputs (x1,x2,x3..xm) and connection weights (w1,w2,w3..wm) in Figure 4 are typically real values, both postive (+) and negative (-). If the feature of some xi tends to cause the perceptron to fire, the weight wi will be positive; if the feature xi inhibits the perceptron, the weight wi will be negative.

The perceptron itself, consists of weights, the summation processor, and an activation function, and an adjustable threshold processor (called bias here after).

For convenience the normal practice is to treat the bias, as just another input. The following diagram illustrates the revised configuration.

Figure 5 Artificial Neuron configuration, with bias as additinal input

The bias can be thought of as the propensity (a tendency towards a particular way of behaving) of the perceptron to fire irrespective of its inputs. The perceptron configuration network shown in Figure 5 fires if the weighted sum > 0, or if you're into math-type explanations

Activation Function

The activation usually uses one of the following functions.

Sigmoid Function

The stronger the input, the faster the neuron fires (the higher the firing rates). The sigmoid is also very useful in multi-layer networks, as the sigmoid curve allows for differentation (which is required in Back Propogation training of multi layer networks).

or if your into maths type explanations

Step Function

A basic on/off type function, if 0 > x then 0, else if x >= 0 then 1

or if your into math-type explanations

Learning

A foreword on learning

Before we carry on to talk about perceptron learning lets consider a real world example :

How do you teach a child to recognize a chair? You show him examples, telling him, "This is a chair. That is not a chair," until the child learns the concept of what a chair is. In this stage, the child can look at the examples we have shown him and answer correctly when asked, "Is this object a chair?"

Furthermore, if we show to the child new objects that he hasn't seen before, we could expect him to recognize correctly whether the new object is a chair or not, providing that we've given him enough positive and negative examples.

This is exactly the idea behind the perceptron.

Learning in perceptrons

Is the process of modifying the weights and the bias. A perceptron computes a binary function of its input. Whatever a perceptron can compute it can learn to compute.

"The perceptron is a program that learn concepts, i.e. it can learn to respond with True (1) or False (0) for inputs we present to it, by repeatedly "studying" examples presented to it.

The Perceptron is a single layer neural network whose weights and biases could be trained to produce a correct target vector when presented with the corresponding input vector. The training technique used is called the perceptron learning rule. The perceptron generated great interest due to its ability to generalize from its training vectors and work with randomly distributed connections. Perceptrons are especially suited for simple problems in pattern classification."

Professor Jianfeng feng, Centre for Scientific Computing, Warwick university, England.

The Learning Rule

The perceptron is trained to respond to each input vector with a corresponding target output of either 0 or 1. The learning rule has been proven to converge on a solution in finite time if a solution exists.

The learning rule can be summarized in the following two equations:

b = b + [ T - A ]

For all inputs i:

W(i) = W(i) + [ T - A ] * P(i)


Where W is the vector of weights, P is the input vector presented to the network, T is the correct result that the neuron should have shown, A is the actual output of the neuron, and b is the bias.

Training

Vectors from a training set are presented to the network one after another.

If the network's output is correct, no change is made.

Otherwise, the weights and biases are updated using the perceptron learning rule (as shown above). When each epoch (an entire pass through all of the input training vectors is called an epoch) of the training set has occured without error, training is complete.

At this time any input training vector may be presented to the network and it will respond with the correct output vector. If a vector, P, not in the training set is presented to the network, the network will tend to exhibit generalization by responding with an output similar to target vectors for input vectors close to the previously unseen input vector P.

So what can we use do with neural networks

Well if we are going to stick to using a single layer neural network, the tasks that can be achieved are different from those that can be achieved by multi-layer neural networks. As this article is mainly geared towards dealing with single layer networks, let's dicuss those further:

Single layer neural networks

Single-layer neural networks (perceptron networks) are networks in which the output unit is independent of the others - each weight effects only one output. Using perceptron networks it is possible to achieve linear seperability functions like the diagrams shown below (assuming we have a network with 2 inputs and 1 output)

It can be seen that this is equivalent to the AND / OR logic gates, shown below.

Figure 6 Classification tasks

So that's a simple example of what we could do with one perceptron (single neuron essentially), but what if we were to chain several perceptrons together? We could build some quite complex functionality. Basically we would be constructing the equivalent of an electronic circuit.

Perceptron networks do however, have limitations. If the vectors are not linearly separable, learning will never reach a point where all vectors are classified properly. The most famous example of the perceptron's inability to solve problems with linearly nonseparable vectors is the boolean XOR problem.

Multi layer neural networks

With muti-layer neural networks we can solve non-linear seperable problems such as the XOR problem mentioned above, which is not acheivable using single layer (perceptron) networks. The next part of this article series will show how to do this using muti-layer neural networks, using the back propogation training method.

Well that's about it for this article. I hope it's a nice introduction to neural networks. I will try and publish the other two articles when I have some spare time (in between MSc disseration and other assignments). I want them to be pretty graphical so it may take me a while, but i'll get there soon, I promise.

Wednesday, August 5, 2009

How to choose the best CMS

Choosing a content management system can be tricky. Without a clearly deļ¬ned set of requirements, you will be seduced by fancy functionality that you will never use. What then should you look for in a CMS?

When I left home for university my mother taught me a valuable lesson. If you want to save money, never go grocery shopping when you are hungry, and always write a list. If you don’t, you’ll be tempted to buy things you don’t need.

The same principle is true when it comes to selecting a content management system. Without a clearly defined set of requirements, you will be seduced by fancy functionality that you will never use. Before you know it, you’ll be buying an enterprise-level system for tens of thousands of dollars when a free blogging tool would have done the job.

How then do you establish your list of requirements? Although your circumstances will vary, here are ten things that are particularly important.

1. Core functionality

When most people think of content management, they think of creating, deleting, editing and organizing pages. They assume all content management systems do this and so take that functionality for granted. However, that is not necessarily the case. Nor is there any guarantee that such functionality will be presented in an intuitive way.

Not all blogging platforms, for example, allow the owner to manage and organize pages in a tree hierarchy. Instead, individual “posts” are automatically organized by such criteria as date and category. In some cases, this is perfectly adequate. In fact, this limitation in functionality keeps the interface simple and easy to understand. However, in other circumstances, the limitation can be frustrating.

Blogger Homepage

Consider carefully the basic functionality you need. Even if you do not require the ability to structure and organize pages now, you may in future. Be wary of any system that does not allow you to complete these core tasks.

Also ask yourself how easy it is to complete these tasks. There are literally thousands of content management systems on the market, the majority of which offer this core functionality. However, they vary hugely in usability. Always test the system for usability before making a purchase.

2. The editor

The editor is one core feature worth particular attention. The majority of content management systems have a WYSIWYG editor. Strangely, this editor is often ill-conceived, despite the fact that it is the most used feature within the system.

The editor is the interface through which content is added and amended. Traditionally, it has also allowed the content provider to apply basic formatting, such as font and color. However, developers have recently moved away from this type of editor to something that reflects best practice.

The danger of traditional WYSIWYG editors is two-fold. First, content providers are given too much control over the design. They are able to customize the appearance of a page so much that they undermine the consistency of the design and branding. Secondly, in order to achieve this level of design control, the CMS mixes design and content.

The new generation of editors takes a different approach. Content providers use the editor to mark up headings, lists, links and other elements, without specifying how they should appear.

Wordpress WYSIWYG

Ensure your list of requirements includes an editor designed on this principle and that does not give content providers control over the appearance. At the very least, look for content management systems that allow the editor to be replaced with a more appropriate solution.

The editor should also be able to handle external assets, including images and downloadable files. That brings us to our next point: management of these assets.

3. Managing assets

Management of images and files is badly handled in some CMS’. Badly designed systems can frustrate users with poor accessibility and usability. Images in particular can cause problems. Ensure that the content management system you select forces content providers to add attributes to images. You may also want a CMS that provides basic image editing tools, such as cropping, resizing and rotating. However, finding one that does this can be a challenge.

Also, consider how the content management system deals with uploading and attaching PDFs, Word documents and other files. How are they displayed to end users? Can descriptions be attached to the files, and is the search function capable of indexing them?

4. Search

Search is an important aspect of any website. Approximately half of all users start with search when looking for content. However, the search functionality in content management systems is often inadequate.

Here are a few things to look for when assessing search functionality:

  • Freshness: how often does the search engine index your website? This is especially important if your website changes regularly.
  • Thoroughness: does it index the entire content of each page? What about attached files, such as PDFs and Word, Excel and PowerPoint documents?
  • Speed: some search engines can take ages to return results. This is especially common on large websites.
  • Scope: can you limit the scope of the search function to a particular section of the website or refine search results once returned?
  • Ranking: how does the search engine determine the ranking of results? Can this be customized by either the website owner or user?
  • Customization: can you control how results are displayed and customize the design?

The issue of customization, of course, goes far beyond search.

5. Customization

I have had the misfortune of working with content management systems that are completely inflexible in their presentation.

Illustration demonstrating the inflexibility of some CMS

Your content’s presentation should not be dictated by technology. It is simply not necessary now that we have techniques to separate design and content. Unfortunately, like some Web designers, many CMS developers have not adopted best practices and have created systems that produce horrendous code. This puts unreasonable constraints on the design and seriously impacts accessibility.

You need a content management system that allows flexibility in the way content is retrieved and presented. For example, can you retrieve news stories in reverse chronological order? Can you display events in a calendar? Is it possible to extract the most recent user comments and display them on the home page? Flexibility makes a CMS stand out.

Speaking of user comments, all forms of user interaction are worth mentioning.

6. User interaction

If you intend to gather user feedback, your CMS must provide that functionality or allow a third-party plug-in to provide it. Equally, if you want to host a community on your website, then you will require functionality such as chat, forums, comments and ratings.

At a minimum, you will need to be able to post forms and collect responses. How easy does the CMS make this process? Can you customize fields or does that require technical expertise? What about the results? Can you specify who they are emailed to? Can they be written to a database or outputted as an Excel document? Consider the kind of functionality you need and look for a CMS that supports it.

Also ask what tools exist for communicating with customers. Can you send email newsletters? Can recipients be organized into groups that receive different mailings? What about news feeds and RSS?

Finally, consider how you want to manage users. Do you need to be able to reset passwords, set permissions or export user information to other systems?

But user permissions are not the only things that need managing. You should also consider permissions for those editing the website.

7. Roles and permissions

As the number of content providers on your website increases, you will want more control over who can edit what. For example, one group may need to be able to post job advertisements but not add content to the home page. This requires a content management system that supports permissions. Although implementation varies, permissions normally allow you to specify whether users can edit certain pages or even entire sections of the website.

Illustration showing the consequences of not having a permissions system

As the number of contributors grows still further, you may require one person to be able to review content being posted to ensure accuracy and consistency in tone. Alternatively, content may be inputted by a junior staff member who requires the approval of a more senior person before making it live.

In both cases, you’ll need a CMS that supports multiple roles. This can be as simple as having one “Editor” and one “Approver” role, or more complex with customized roles and different levels of permission.

Finally, enterprise-level content management systems support entire workflows in which page updates have to go through a series of checkpoints before going live. These complex scenarios require the ability to roll back pages to previous versions.

8. Versioning

Being able to revert to a previous version of a page allows you to quickly recover if something is posted by accident.

Some content management systems have complex versioning functionality that allows you to roll back to a specific date. However, in most cases, this is overkill. The most common use of versioning is simply reverting to the last saved state.

Although this sounds like an indispensable feature, in my experience it is rarely used expect in complex workflow situations. That said, although versioning was once a enterprise-level tool, it is becoming available in more and more content management systems.

The same can be said of of multi-website support.

9. Multiple website support

With more content management systems allowing you to run multiple websites from the same installation, I would recommend this as a must-have feature.

Although you may not currently need to be able to manage more than a single website, that could easily change. You may decide to launch a new website to target a narrower audience.

And with the growth of the mobile Web, you may want to create a separate website especially for mobile devices. Whatever the reason, having the flexibility to run multiple websites is important.

Movable Type admin system

Another feature you might not require immediately but may in future is multilingual support.

10. Multilingual support

It is easy to dismiss support for multiple languages. Your website may specifically target the domestic market, or you may sell a language-specific product. But think twice before dismissing this functionality.

Even if your product is language-specific, that could change. It is important that your CMS be able to grow with your business and evolving requirements.

Also, just because you are targeting the domestic market doesn’t mean you can ignore the issue of language. We live in a multicultural society in which numerous languages are spoken. Being able to accommodate these differences gives you a significant edge over the competition.

That said, do think through the ramifications first. Having the ability to add multiple languages doesn’t mean you have the content for them. Too many of my clients have insisted on multilingual support and yet never used it because they neglected to consider how they were going to get their content translated or pay for it.

Conclusion

Consideration of features is an important part of the process of selecting a CMS, but it is not everything. It is also important to consider issues such as licensing, support, accessibility, security, training and much more.

I leave you with a word of warning: don’t let your list of requirements become a wish list. Keep your requirements to a minimum, but at the same time keep an eye on the future. It’s a fine line to walk. On the one hand, you don’t want to pay for functionality you will never use. On the other, you don’t want to be stuck with a content management system that no longer meets your needs.

How to optimize for Bing

Ever since Microsoft launched its Bing search engine, it has drawn a lot of interest (and speculation) from the SEO community. On one hand, this is quite logical because Bing is intended to be one more heavy-weight player and it is expected to cut some share from Google. On the other hand, this is hardly the first time a new heavy-weight player comes to the ring, so maybe the expectations that Bing will put an end to Google's monopoly are groundless. Still, Bing is quite different (in a positive way) from the other search engines and this is its major strength.

Is Bing Really That Different?

The first impression you get when you go to Bing.com is that it is different – the background makes it cute but sure, there have been many other cases of search engines with tons of graphical frills to disguise their irrelevant search algorithms. However, when you type a search term, the results you get are a pleasant surprise because they are relevant.

It is this relevance of search results that worries SEO experts. The results you get when you search with Bing are relevant, yet they are very different from Google's. Actually, no matter if you search with Google or with Bing (or if you go to Bingle, you can compare the result sets side by side), you get relevant results and the two sets are very different from one another.

One of the most important things SEO experts are curious to know about Bing is its algorithm. Obviously, Bing's algorithm is different from Google's because when the search term is the same but the set of results is different, a difference in the algorithm is the obvious answer. Actually, the question is exactly what is different between the two algorithms and if the difference is so drastic that it makes it mandatory to reoptimize a site for Bing.

What Do I Need to Do In Order to Optimize My Site for Bing?

Wait. This is the first thing you need to do. Right now it is too early to say what steps (if any) are required in order to optimize your site for Bing.

Additionally, no matter how promising Bing looks, it is still early to predict if it will become a real competitor to Google or if it will become one more failed attempt to dethrone Google. Let's see how users react – will they start Binging more or will they stick to Google. When it becomes clear that Bing will be able to make it, then it will make sense to optimize for it as well. So for now the best you can do is wait.

Which Factors Make a Site Rank Well With Bing

As you probably guess, the exact algorithm of Bing is not publicly available and because of that there is a lot of speculation about what weighs more for Bing (in comparison to Google) and what weighs less. Many SEO experts test different search queries, analyze the results, and based on that try to figure out what of the known SEO tactics works with Bing. For instance, these tests are quite interesting.

Some SEO experts even think that Bing is actually Live Search in new clothes (i.e. user interface), while others say that there are noticeable differences between Live Search and Bing. But there is no doubt that for now Bing is a significant improvement over Live Search in terms of relevance of search results.

Bing is hardly the first time when there is no agreement in the SEO community about the intricacies of the algorithm but if we can summarize, here are some factors, which are (or at least are strongly believed to be) of importance when Bing optimization is concerned:

  • Backlinks are of less importance. If you compare the first 10 results in Bing and Google, it is noticeable that all equal, the winners in Bing have less backlinks than the winners in Google. It is unclear if nofollow matters with Bing.

  • Inbound anchor text matters more. The quantity of quality inbound links might be of less importance for Bing but the anchor text certainly matters more. Actually, since anchor text is one of the measurements of the quality of inbound links, it isn't much different. Get quality anchor text and you will do well in both Bing and Google.

  • Link spamming won't do much for you on Bing. Since the quantity of backinks (even if they are of supreme quality) seems to be of less importance to Bing, link spamming will be even less effective than with Google.

  • Onpage factors matter more than with Google. This is one of the most controversial points. Many SEO experts disagree but many also think that onpage factors matter more with Bing than with Google. Still, it has nothing to do with the 90s, when onpage factors were definitive.

  • Bing pays more attention to the authority of the site. If this is true, this is bad news for bloggers and small sites because it means that search results are distorted in favor of older sites and/or sites of authoritative organizations. Age of domain is also very important with Bing – even more than with Google.

  • PR matters less. When you perform a search for a competitive keyword and you see a couple of PR2 or even PR1 sites among the top 10 results, this might make you wonder. On Google this is hardly possible but on Bing it looks quite normal.

  • Fresh content matters less. Bing looks a bit conservative – or maybe it just can't index sites that quickly – but it seems that fresh content is not so vital as with Google. This is related to the age of domain specifics and as a result you will see ancient pages rank high (but these ancient pages are relevant to the search query).

  • Bing is more Flash-friendly. Optimizing a Flash site for Google is a bit of a SEO nightmare. It is too early to say but it looks like Bing is more Flash-friendly, which is good news to all sites where Flash is (still) heavily employed.

For now it is too early to say which factors are of primary importance with Bing. But the fact that their search results are relevant means that their algorithm is really precise. Well, maybe the relevant results in Bing are due to the fact that web masters were taken by surprise and they haven't had the time to optimize for Bing. As a result, the content is authentic, there are no SEO gimmicks and artificial pumping. We'll see if this will stay so in the future, when web masters learn how to optimize for Bing as well!

SEO Mistakes you can't afford to make

1Targetting the wrong keywords

This is a mistake many people make and what is worse – even experienced SEO experts make it. People choose keywords that in their mind are descriptive of their website but the average users just may not search them. For instance, if you have a relationship site, you might discover that “relationship guide” does not work for you, even though it has the “relationship” keyword, while “dating advice” works like a charm. Choosing the right keywords can make or break your SEO campaign. Even if you are very resourceful, you can't think on your own of all the great keywords but a good keyword suggestion tool, for instance, the Website Keyword Suggestion tool will help you find keywords that are good for your site.

2Ignoring the Title tag

Leaving the tag empty is also very common. This is one of the most important places to have a keyword, because not only does it help you in optimization but the text in your <title> tag shows in the search results as your page title. <br /> <p class="defaultfont" align="justify"> </p><h2 id="simplicity"><span class="faint">3</span>A Flash website without a html alternative</h2> Flash might be attractive but not to search engines and users. If you really insist that your site is Flash-based and you want search engines to love it, provide an html version. Here are some more <a href="http://www.webconfs.com/optimizing-flash-sites-article-14.php">tips for optimizing Flash sites</a>. Search engines don't like Flash sites for a reason – a spider can't read Flash content and therefore can't index it. <p class="defaultfont" align="justify"> </p><h2 id="simplicity"><span class="faint">4</span>JavaScript Menus</h2> Using JavaScript for navigation is not bad as long as you understand that search engines do not read JavaScript and build your web pages accordingly. So if you have JavaScript menus you can't do without, you should consider build a sitemap (or putting the links in a noscript tag) so that all your links will be crawlable. <p class="defaultfont" align="justify"> </p><h2 id="simplicity"><span class="faint">5</span>Lack of consistency and maintenance</h2> Our friend Rob from <a href="http://www.blackwoodproductions.com/" target="_blank">Blackwood Productions</a> often encounters clients, who believe that once you optimize a site, it is done foreve. If you want to be successful, you need to permanently optimize your site, keep an eye on the competition and – changes in the ranking algorithms of search engines. <p class="defaultfont" align="justify"> </p><h2 id="simplicity"><span class="faint">6</span>Concentrating too much on meta tags</h2> A lot of people seem to think SEO is about getting your meta keywords and description correct! In fact, meta tags are becoming (if not already) a thing of the past. You can create your meta keywords and descriptions but don't except to rank well only because of this. <p class="defaultfont" align="justify"> </p><h2 id="simplicity"><span class="faint">7</span>Using only Images for Headings</h2> Many people think that an image looks better than text for headings and menus. Yes, an image can make your site look more distinctive but in terms of SEO images for headings and menus are a big mistake because h2, h2, etc. tags and menu links are important SEO items. If you are afraid that your h1 h2, etc. tags look horrible, try modifying them in a stylesheet or consider this approach: <a href="http://www.stopdesign.com/articles/replace_text">http://www.stopdesign.com/articles/replace_text</a>. <p class="defaultfont" align="justify"> </p><h2 id="simplicity"><span class="faint">8</span>Ignoring URLs</h2> Many people underestimate how important a good URL is. Dynamic page names are still very frequent and no keywords in the URL is more a rule than an exception. Yes, it is possible to rank high even without keywords in the URL but all being equal, if you have keywords in the URL (the domain itself, or file names, which are part of the URL), this gives you additional advantage over your competitors. Keywords in URLs are more important for MSN and Yahoo! but even with Google their relative weight is high, so there is no excuse for having keywordless URLs. <p class="defaultfont" align="justify"> </p><h2 id="simplicity"><span class="faint">9</span>Backlink spamming</h2> It is a common delusion that it more backlinks are ALWAYS better and because of this web masters resort to link farms, forum/newgroup spam etc., which ultimately could lead to getting their site banned. In fact, what you need are <i>quality backlinks</i>. Here are some more information on <a href="http://www.webconfs.com/importance-of-backlinks-article-5.php">The Importance of Backlinks</a> <p class="defaultfont" align="justify"> </p><h2 id="simplicity"><span class="faint">10</span>Lack of keywords in the content</h2> Once you focus on your keywords, modify your content and put the keywords wherever it makes sense. It is even better to make them bold or highlight them. </span> <div style='clear: both;'></div> </div> <div class='post-footer'> <div class='post-footer-line post-footer-line-1'> <span class='post-author vcard'> Posted by <span class='fn' itemprop='author' itemscope='itemscope' itemtype='http://schema.org/Person'> <meta content='https://www.blogger.com/profile/15320621626153130051' itemprop='url'/> <a class='g-profile' href='https://www.blogger.com/profile/15320621626153130051' rel='author' title='author profile'> <span itemprop='name'>Nick Hargreaves</span> </a> </span> </span> <span class='post-timestamp'> at <meta content='http://contentkenya.blogspot.com/2009/08/seo-mistakes-you-cant-afford-to-make.html' itemprop='url'/> <a class='timestamp-link' href='http://contentkenya.blogspot.com/2009/08/seo-mistakes-you-cant-afford-to-make.html' rel='bookmark' title='permanent link'><abbr class='published' itemprop='datePublished' title='2009-08-05T03:29:00-07:00'>3:29 AM</abbr></a> </span> <span class='post-comment-link'> <a class='comment-link' href='http://contentkenya.blogspot.com/2009/08/seo-mistakes-you-cant-afford-to-make.html#comment-form' onclick=''> 1 comment: </a> </span> <span class='post-icons'> <span class='item-action'> <a href='https://www.blogger.com/email-post.g?blogID=8278539001392245981&postID=6777820237164934238' title='Email Post'> <img alt='' class='icon-action' height='13' src='https://resources.blogblog.com/img/icon18_email.gif' width='18'/> </a> </span> <span class='item-control blog-admin pid-756183507'> <a href='https://www.blogger.com/post-edit.g?blogID=8278539001392245981&postID=6777820237164934238&from=pencil' title='Edit Post'> <img alt='' class='icon-action' height='18' src='https://resources.blogblog.com/img/icon18_edit_allbkg.gif' width='18'/> </a> </span> </span> <div class='post-share-buttons goog-inline-block'> </div> </div> <div class='post-footer-line post-footer-line-2'> <span class='post-labels'> Labels: <a href='http://contentkenya.blogspot.com/search/label/SEO' rel='tag'>SEO</a> </span> </div> <div class='post-footer-line post-footer-line-3'> <span class='post-location'> </span> </div> </div> </div> </div> </div></div> <div class="date-outer"> <h2 class='date-header'><span>Monday, August 3, 2009</span></h2> <div class="date-posts"> <div class='post-outer'> <div class='post hentry uncustomized-post-template' itemprop='blogPost' itemscope='itemscope' itemtype='http://schema.org/BlogPosting'> <meta content='8278539001392245981' itemprop='blogId'/> <meta content='5140854355079900685' itemprop='postId'/> <a name='5140854355079900685'></a> <h3 class='post-title entry-title' itemprop='name'> <a href='http://contentkenya.blogspot.com/2009/08/dumb-online-biz-ideas-that-made.html'>Dumb online biz ideas that made millionaires</a> </h3> <div class='post-header'> <div class='post-header-line-1'></div> </div> <div class='post-body entry-content' id='post-body-5140854355079900685' itemprop='description articleBody'> <p>1. <a href="http://milliondollarhomepage.com/">Million Dollar Homepage</a></p> <p>1000000 pixels, charge a dollar per pixel – that’s perhaps the dumbest idea for online business anyone could have possible come up with. Still, Alex Tew, a 21-year-old who came up with the idea, is now a millionaire.</p> <p>2. <a href="http://santamail.org/">SantaMail </a> </p> <p>Ok, how’s that for a brilliant idea. Get a postal address at North Pole, Alaska, pretend you are Santa Claus and charge parents 10 bucks for every letter you send to their kids? Well, Byron Reese sent over 200000 letters since the start of the business in 2001, which makes him a couple million dollars richer. <a href="http://uncommonbusiness.blogspot.com/2006/06/santa-pretender-makes-1-million-year.html">Full Story</a><br /></p> <p>3. <a href="http://doggles.com/">Doggles</a></p> <p>Create goggles for dogs and sell them online? Boy, this IS the dumbest idea for a business. How in the world did they manage to become millionaires and have shops all over the world with that one? Beyond me.</p> <p>4. <a href="http://lasermonks.com/">LaserMonks</a></p> <p>LaserMonks.com is a for-profit subsidiary of the Cistercian Abbey of Our Lady of Spring Bank, an eight-monk monastery in the hills of Monroe County, 90 miles northwest of Madison. Yeah, real monks refilling your cartridges. Hallelujah! Their 2005 sales were $2.5 million! Praise the Lord. <a href="http://uncommonbusiness.blogspot.com/2006/04/cistercian-monks-jesus-ink-business.html">Full Story</a><br /></p> <p>5. <a href="http://antennaballs.com/">AntennaBalls</a></p> <p>You can’t sell antenna ball online. There is no way. And surely it wouldn’t make you rich. But this is exactly what Jason Wall did, and now he is now a millionaire. <a href="http://uncommonbusiness.blogspot.com/2006/03/how-guy-became-millionaire-selling.html">Full Story</a><br /></p> <p>6. <a href="http://fitdeck.com/">FitDeck</a></p> <p>Create a deck of cards featuring exercise routines, and sell it online for $18.95. Sounds like a disaster idea to me. But former Navy SEAL and fitness instructor Phil Black reported last year sales of $4.7 million. Surely beats what military pays.</p> <p>7. <a href="http://positivesdating.com/">PositivesDating.Com</a></p> <p>How would you like to go on a date with an HIV positive person? Paul Graves and Brandon Koechlin thought that someone would, so they created a dating site for HIV positive folks last year. Projected 2006 sales are $110,000, and the two hope to have 50,000 members by their two-year mark.</p> <p>8. <a href="http://www.diapeesandwipees.com/">Designer Diaper Bags</a></p> <p>Christie Rein was tired of carrying diapers around in a freezer bag. The 34-year-old mother of three found herself constantly stuffing diapers for her infant son into freezer bags to keep them from getting scrunched up in her purse. Rein wanted something that was compact, sleek and stylish, so in November 2004, she sat down with her husband, Marcus, who helped her design a custom diaper bag that's big enough to hold a travel pack of wipes and two to four diapers. With more than $180,000 in sales for 2005, Christie's company, Diapees & Wipees, has bags in 22 different styles, available online and in 120 boutiques across the globe for $14.99.</p> <p>9. <a href="http://www.pickydomains.com/">PickyDomains</a></p> <p>Hire another person to think of a cool domain name for you? No way people would pay for this. Actually, naming domain names for others turned out a thriving business, especially, when you make the entire process risk free. PickyDomains currently has a waiting list of people who want to PAY the service to come up with a snappy memorable domain name. PickyDomains is expected to hit six figures this year. <a href="http://uncommonbusiness.blogspot.com/2007/01/how-to-make-money-naming-domains.html">Full Story</a><br /></p> <p>10. <a href="http://www.luckybreakwishbone.com/">Lucky Wishbone Co.</a></p> <p>Fake wishbones. Now, this stupid idea is just destined to flop. Who in the world needs FAKE PLASTIC wishbones? A lot of people, it turns out. Now producing 30,000 wishbones daily (they retail for 3 bucks a pop) Ken Ahroni, the company founder, expects 2006 sales to reach $1 million.</p><p>To see other businesses that have not made the top 10 list but came pretty close, visit <a href="http://uncommonbusiness.blogspot.com/">Business Ideas Blog</a></p> <div style='clear: both;'></div> </div> <div class='post-footer'> <div class='post-footer-line post-footer-line-1'> <span class='post-author vcard'> Posted by <span class='fn' itemprop='author' itemscope='itemscope' itemtype='http://schema.org/Person'> <meta content='https://www.blogger.com/profile/15320621626153130051' itemprop='url'/> <a class='g-profile' href='https://www.blogger.com/profile/15320621626153130051' rel='author' title='author profile'> <span itemprop='name'>Nick Hargreaves</span> </a> </span> </span> <span class='post-timestamp'> at <meta content='http://contentkenya.blogspot.com/2009/08/dumb-online-biz-ideas-that-made.html' itemprop='url'/> <a class='timestamp-link' href='http://contentkenya.blogspot.com/2009/08/dumb-online-biz-ideas-that-made.html' rel='bookmark' title='permanent link'><abbr class='published' itemprop='datePublished' title='2009-08-03T05:22:00-07:00'>5:22 AM</abbr></a> </span> <span class='post-comment-link'> <a class='comment-link' href='http://contentkenya.blogspot.com/2009/08/dumb-online-biz-ideas-that-made.html#comment-form' onclick=''> 2 comments: </a> </span> <span class='post-icons'> <span class='item-action'> <a href='https://www.blogger.com/email-post.g?blogID=8278539001392245981&postID=5140854355079900685' title='Email Post'> <img alt='' class='icon-action' height='13' src='https://resources.blogblog.com/img/icon18_email.gif' width='18'/> </a> </span> <span class='item-control blog-admin pid-756183507'> <a href='https://www.blogger.com/post-edit.g?blogID=8278539001392245981&postID=5140854355079900685&from=pencil' title='Edit Post'> <img alt='' class='icon-action' height='18' src='https://resources.blogblog.com/img/icon18_edit_allbkg.gif' width='18'/> </a> </span> </span> <div class='post-share-buttons goog-inline-block'> </div> </div> <div class='post-footer-line post-footer-line-2'> <span class='post-labels'> Labels: <a href='http://contentkenya.blogspot.com/search/label/Enterpreneurship' rel='tag'>Enterpreneurship</a>, <a href='http://contentkenya.blogspot.com/search/label/Riff%20Raffs' rel='tag'>Riff Raffs</a> </span> </div> <div class='post-footer-line post-footer-line-3'> <span class='post-location'> </span> </div> </div> </div> </div> <div class='post-outer'> <div class='post hentry uncustomized-post-template' itemprop='blogPost' itemscope='itemscope' itemtype='http://schema.org/BlogPosting'> <meta content='http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif' itemprop='image_url'/> <meta content='8278539001392245981' itemprop='blogId'/> <meta content='5555055852889503000' itemprop='postId'/> <a name='5555055852889503000'></a> <h3 class='post-title entry-title' itemprop='name'> <a href='http://contentkenya.blogspot.com/2009/08/sample-business-plan.html'>Sample Business Plan</a> </h3> <div class='post-header'> <div class='post-header-line-1'></div> </div> <div class='post-body entry-content' id='post-body-5555055852889503000' itemprop='description articleBody'> <div id="sample_plan_page_name"> <h2>Executive Summary</h2> </div> <div id="sample_plan_page_content" style="overflow: hidden; width: 450px;"> <p>The Athlete's Foot store in Pine Ridge Square will become the athletic footwear headquarters for the City of Coral Springs, Florida. </p><p>There are 29,000 school-aged children, of which over 11,000 participate in the city's 16 structured athletic programs. There are 27 schools, with varying degrees of athletic programs, within three miles of the proposed location. </p><p>There are 57,000 adults between the ages of 20 and 54 within three miles of the center. That is the prime age of Florida's running community. In January's Walt Disney Marathon & 1/2 Marathon in Orlando, there were approximately 250 participants from Coral Springs, Coconut Creek, and Parkland. That is just an example of the abundance of dedicated runners in the community. There are no stores in Coral Springs which offer a collection of "serious" running shoes, or offer the novice or "less serious" runner a quality selection and education on the proper style, fit, and sizing for their needs. </p><p>The Athlete's Foot will focus on the above two market segments. By capturing those primary customers, the balance of residents with sports shoe needs will be drawn to us, the obvious headquarters for athletic footwear. </p><p>The store will be located at the intersection of University Drive and Wiles Road. The key co-tenants are: Fresh Market, Bed Bath & Beyond, Blockbuster Video, Play It Again Sports (they do not sell athletic shoes), a 10,000 sq. ft. daycare center, a children's and young men's specialty clothing store, a learning center, four restaurants, and several other youth-oriented businesses. At the same intersection are: Kmart, Steinmart, Winn Dixie, McDonald's, Wendy's, three banks, six additional restaurants, and three gas stations. In total, there is approximately 400,000 sq ft of retail space at this intersection. University Drive is being extended north through Boca Raton. Wiles Road is being extended east, through Coconut Creek. There are approximately 55,000 cars per day traveling through the intersection. </p><p>There is minimal competition within Coral Springs. There are several "Mall" stores, which cater to a fashion athletic footwear customer. They offer limited service and virtually no technical knowledge or expertise for running shoes. As well, they make minimal effort at capturing the "sports specific" footwear, such as soccer, baseball, or football cleats, or related accessories.</p><p>The Athlete's Foot will be a franchise of The Athlete's Foot, Inc., recognized as the world's leader in athletic footwear franchising. The Athlete's Foot has over 700 company owned and franchised stores in 33 countries. By becoming an Athlete's Foot franchise, we benefit from a comprehensive support program that includes: </p><ul><li>Access to special vendor discounts including; Nike, Reebok, Fila, New Balance, Adidas, Converse, Brooks, etc. </li><li>Advice and assistance in real estate selection and negotiation </li><li>Proven store design, fixturing, and layout </li><li>Planned merchandising system, assortment direction, and coordinated inventory control </li><li>Comprehensive training in all facets of the athletic footwear business through required seminars and workshops </li><li>Ongoing support through video, monthly publications, regional meetings, and co-franchise networking </li><li>National Advertising Program and assistance with the local advertising campaign </li><li>The most sophisticated "Fit Technician" and Research and Development programs in the industry.</li></ul> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/fdeb8ffc2dbe472386f72bb69fe577cf.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/fdeb8ffc2dbe472386f72bb69fe577cf.png" width="450" /> </div> <h3 id="1.1_Objectives">1.1 Objectives</h3> <p>The primary objectives of the business plan for The Athlete's Foot are outlined below.</p><ol><li>To make The Athlete's Foot the headquarters for athletic footwear by offering knowledgeable and professional customer service. Customer service will be measured through repeat business (our goal is that 50% of our customers will return within 6 months for an additional purchase) and multiple sales (our goal is that 30% of our non-running and 60% of our running shoe sales are accompanied by an additional purchase).<br /></li><li>To be an active participant and supporter of the Coral Springs Athletic Community and to develop a youth and adult running club to promote a healthy lifestyle through exercise. Our goal is to have 150 running club members by the end of the 18th month of club operation.<br /></li><li>To achieve a 33% increase in sales year two and maintain a minimum annual increase of 15% thereafter.</li></ol> <h3 id="1.2_Mission">1.2 Mission</h3> <p>The Athlete's Foot is a retail store specializing in the sale of true athletic footwear for the entire family. The store will emphasis the sale of children's athletic shoes and a full assortment of men's, women's, and children's running shoes and accessories. We will provide consumers with technical knowledge on the proper fit and style of athletic footwear for their various needs. We will be the only full-service athletic footwear store with quality, knowledgeable sales help in this city of 100,000 people. </p><p>Our goal is to be the headquarters for the Coral Springs athlete. Coral Springs has one of the largest and most sophisticated community athletic programs in the United States. There are approximately 29,000 school-aged children within three miles of the planned store location. </p><p>We believe that to attain our headquarters position, we will need to become a visible member of the athletic community through sponsorship, seminars, team and league promotions and the development of a community running program.<br /></p><div id="sample_plan_page_name"> <h2>Company Summary</h2> </div> <p>The Athlete's Foot sells quality athletic footwear for the entire family, specializing in running shoes and accessories. We have selected a location in a renovated shopping center anchored by Fresh Market, Bed Bath and Beyond, Blockbuster Video, and four restaurants. The balance of tenants caters primarily to children. The quality of our customer service and the lack of competition in the city will allow us to quickly become the footwear headquarters for the local individual athlete and various teams, leagues and schools. This Athlete's Foot store, while part of a worldwide chain, will be family owned and operated.</p> <h3 id="2.1_Start-up_Summary">2.1 Start-up Summary</h3> <p>The start-up costs include:</p><ul><li>Store build out the store and operations </li><li>Inventory control, (computers and cash registers) </li><li>The foot scanner and fixture</li><li>Opening inventory</li><li>Franchise Fee. </li></ul><p>Start-up costs will be financed through a combination of owner investment, short-term loans and lines of credit, and long-term borrowing. The start-up chart and table show the distribution of the planned financing. </p> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/51c53cc9c18e45d8b44b4fc9a4f71573.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/51c53cc9c18e45d8b44b4fc9a4f71573.png" width="450" /> </div> <div id="table_1_div" style="width: 450px; position: relative;"> <div id="table_1_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/company_summary_fc.cfm#table_1_big_div" rel="floatboxTable" rev="width:367px; height:358.34px" id="table_1_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_1" class="table"> <tbody><tr class="TableFirstRow"> <td colspan="2" class="TD1" style="text-align: left; width: 74%;">Start-up Funding</td></tr><tr class="TableHeader1"><td><br /></td> <td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;">Start-up Expenses to Fund</td> <td class="TDOdd" style="width: 26%;">$58,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;">Start-up Assets to Fund</td> <td class="TDOdd" style="width: 26%;">$184,000 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 74%;">Total Funding Required</td> <td class="TDOdd" style="width: 26%;">$242,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 74%;">Assets </td> <td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;">Non-cash Assets from Start-up</td> <td class="TDOdd" style="width: 26%;">$156,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;">Cash Requirements from Start-up</td> <td class="TDOdd" style="width: 26%;">$28,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;">Additional Cash Raised</td> <td class="TDOdd" style="width: 26%;">$0 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;">Cash Balance on Starting Date</td> <td class="TDOdd" style="width: 26%;">$28,000 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 74%;">Total Assets</td> <td class="TDOdd" style="width: 26%;">$184,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 74%;">Liabilities and Capital</td> <td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;">Liabilities</td> <td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;">Current Borrowing</td> <td class="TDOdd" style="width: 26%;">$20,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;">Long-term Liabilities</td> <td class="TDOdd" style="width: 26%;">$150,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;">Accounts Payable (Outstanding Bills)</td> <td class="TDOdd" style="width: 26%;">$2,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;">Other Current Liabilities (interest-free)</td> <td class="TDOdd" style="width: 26%;">$0 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 74%;">Total Liabilities</td> <td class="TDOdd" style="width: 26%;">$172,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;">Capital</td> <td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;">Planned Investment</td> <td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;">Investor 1 HKL</td> <td class="TDOdd" style="width: 26%;">$70,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;">Investor 2</td> <td class="TDOdd" style="width: 26%;">$0 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;">Other</td> <td class="TDOdd" style="width: 26%;">$0 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;">Additional Investment Requirement</td> <td class="TDOdd" style="width: 26%;">$0 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 74%;">Total Planned Investment</td> <td class="TDOdd" style="width: 26%;">$70,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;">Loss at Start-up (Start-up Expenses)</td> <td class="TDOdd" style="width: 26%;">($58,000)</td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 74%;">Total Capital</td> <td class="TDOdd" style="width: 26%;">$12,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 74%;">Total Capital and Liabilities</td> <td class="TDOdd" style="width: 26%;">$184,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 74%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 26%;"> <br /></td></tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 74%;">Total Funding </td> <td class="TDOdd" style="width: 26%;">$242,000 </td> </tr> </tbody></table> </div> <div id="table_2_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/company_summary_fc.cfm#table_2_big_div" rel="floatboxTable" rev="width:343px; height:358.34px" id="table_2_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_2" class="table"><tbody><tr class="TableFirstRow"> <td colspan="2" class="TD1" style="text-align: left; width: 75%;">Start-up</td> </tr> <tr class="TableHeader1"> <td class="TD1" style="text-align: left; width: 75%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 25%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 75%;">Requirements</td> <td class="TDOdd" style="text-align: left; width: 25%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 75%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 25%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 75%;">Start-up Expenses</td> <td class="TDOdd" style="text-align: left; width: 25%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 75%;">Accountant</td> <td class="TDOdd" style="width: 25%;">$1,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 75%;">Legal</td> <td class="TDOdd" style="width: 25%;">$2,500 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 75%;">Stationery etc.</td> <td class="TDOdd" style="width: 25%;">$1,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 75%;">Architect / Design Assistance</td> <td class="TDOdd" style="width: 25%;">$2,500 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 75%;">Training</td> <td class="TDOdd" style="width: 25%;">$3,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 75%;">Insurance</td> <td class="TDOdd" style="width: 25%;">$600 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 75%;">Security Deposit & 1st Months Rent</td> <td class="TDOdd" style="width: 25%;">$4,700 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 75%;">Pre-opening Marketing</td> <td class="TDOdd" style="width: 25%;">$5,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 75%;">Franchise Fee</td> <td class="TDOdd" style="width: 25%;">$25,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 75%;">Misc. / Contingency</td> <td class="TDOdd" style="width: 25%;">$12,700 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 75%;">Total Start-up Expenses</td> <td class="TDOdd" style="width: 25%;">$58,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 75%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 25%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 75%;">Start-up Assets</td> <td class="TDOdd" style="text-align: left; width: 25%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 75%;">Cash Required</td> <td class="TDOdd" style="width: 25%;">$28,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 75%;">Start-up Inventory</td> <td class="TDOdd" style="width: 25%;">$85,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 75%;">Other Current Assets</td> <td class="TDOdd" style="width: 25%;">$1,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 75%;">Long-term Assets</td> <td class="TDOdd" style="width: 25%;">$70,000 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 75%;">Total Assets</td> <td class="TDOdd" style="width: 25%;">$184,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 75%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 25%;"> <br /></td></tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 75%;">Total Requirements</td> <td class="TDOdd" style="width: 25%;">$242,000</td></tr></tbody></table><br /><div id="sample_plan_page_name"> <h2>Products</h2> </div> <div id="sample_plan_page_content" style="overflow: hidden; width: 450px;"> <p>The Athlete's Foot will sell the latest and most popular name brand athletic footwear for the family. Consumers will be educated as to the proper size, style, fit, and design needed for their particular use and foot characteristics. We will offer athletic footwear and accessories for almost every sport and active use. We do not intend to initially sell golf shoes or skates. </p><p>The shoes are purchased from the top manufacturers in the world, made possible through The Athlete's Foot Corporation's 700-store buying power. Names such as Nike, Adidas, Puma, Converse, New Balance, Asics, Saucony and Brooks are just a few of the styles we will be stocking. Inventory is tracked through our online cash register and computerized tracking system. Each day we are aware of the style, size, and quantity of every item sold in the store. Re-orders are drop shipped by the manufacturers, or can be rush ordered directly form The Athlete's Foot warehouse, if needed. </p><p>The opening order will be placed through The Athlete's Foot Corporate Warehouse, with their assistance as to styles and size runs. We will also be working with several other franchisees who have family footwear and specialized running stores for their input into our merchandise assortment. Over the first year, we will eventually place orders directly with the manufacturers, always having The Athlete's Foot as backup for stock if required, due to a run on a popular shoe.<br /></p><div id="sample_plan_page_name"> <h2>Market Analysis Summary</h2> </div> <div id="sample_plan_page_content" style="overflow: hidden; width: 450px;"> <p>There are approximately 110,000 residents living within three miles of Pine Ridge Square. Twenty-six percent, (29,000) are between the ages of five and nineteen. Fifty-two percent, (57,000) are between the ages of twenty and fifty-four. Coral Springs has one of the strongest youth athletic programs in the country. There were 11,359 children participating in the 16 various sports programs throughout the year. In addition, through the YMCA and other non-municipal sponsored leagues and programs there is an additional 3,500 children participants. This does not include the residents of neighboring cities like Parkland and Coconut Creek, which are within the market area and have an additional 3,000 participants. The city has 47 public parks, of which the six largest are devoted solely to athletics. The three-mile radius has four high schools, four middle schools, and 14 elementary schools in the public school system. There are an additional five private schools and three new schools planned for the next 18 months. Coral Springs is a young, active community, with outdoor sports played year round. The need for cold weather boots and shoes does not exist, therefore, athletic shoes are worn year round. </p><p>The residents of Coral Springs are in the upper income brackets, with an average income of approximately $68,000 per year. Eighteen percent of the area's population earn in excess of $100,000 per year. In the next three years, that percentage is expected to increase to 25%. This affluent, active resident is willing to buy the latest in athletic footwear, if the service and assortment are strong. </p><p>The top two ACORN Consumer Groups determined by CACI, an international information technology corporation, within three miles are: Prosperous Baby Boomers, (30.7%) and Baby Boomers with Children, (17.4%). These are our primary target markets. </p><p>While we have focused on the immediate three-mile radius of residents, the co-tenancy of Fresh Market and Bed Bath and Beyond will generate customers from a 5 - 7 mile radius. Additionally, there are two specialty retailers in the center, Widensky's Children's Clothing and Jonathan Reed Young Men's Clothing, which have a customer base throughout Broward and Palm Beach Counties. </p><p>We are confident that we will capture the true athletic adult with our assortment and service. By capturing the children's business, through the same assortment and service, we can also become the "family athletic footwear store." While the typical "family adult" may not be as "active" as our target runner, the convenience and professional service we will provide will allow us to become "their" athletic footwear store. </p><p>To recap, our target markets are:</p><ol><li>The True Athletic Adult </li><li>The True Athletic Participant Children. </li></ol><p>By serving these customers well, the balance of the less active community will identify The Athlete's Foot as the athletic footwear headquarters.</p> <h3 id="4.1_Market_Segmentation">4.1 Market Segmentation</h3> <p>The Athlete's Foot feels there are two types of customers the store needs to attract: the Runners and the Non-runners. These groups are subdivided in the following sections.</p> <h3 id="4.1.1_Runners">4.1.1 Runners</h3> <ol><li>"True Runner" - Runs between 20 - 40 miles per week. This person is generally between 30 - 45 years old, both male and female. This segment may also include high school track and cross country runners. This person wants the latest in technology, regardless of price. The True Runner would be the running circuit's answer to the "computer freak." You may find him/her running at 5:00 a.m. or 10:00 p.m., whenever it can be fit into his/her schedule. The True Runner frequently runs in races throughout Florida and may even travel further to combine races with social visits or vacations. Generally, the True Runner is in the upper income brackets. There are 6,000 families earning over $100,000 per year within three miles of the proposed location.<br /></li><li>"Weekend Warrior" - May run up to 20 - 25 miles per week, but most of that is on Saturday and Sunday. A job or family restriction may not allow running to be scheduled during the week. This segment includes males and females between the ages of 25 - 35. This person is most frequently the parent of a young family and is looking for quality and an affordable price. The Weekend Warrior will run in local races. Typically, the Weekend Warrior is in the upper-middle income bracket: often two spouses working, with substantial disposable income. There are close to 12,000 families in this income bracket within three miles of the proposed location.<br /></li><li>"Running for Attention" - People in this segment run 6 - 10 miles per week. He/she wants to look like a runner regardless of ability and will frequently go to parks, the beach, and other highly visible places to run. Most often is a single person looking to meet other singles. Interested in the latest styles, but, he/she must look good. A person who is Running for Attention purchases coordinated outfits and accessories, running bottles, and timing watches. This segment also spans both males and females between the ages of 30 - 55. A member of this segment can be seen frequently at races, but not always running. He/she also belongs to local health or tennis club. There are approximately 7,000 single households within three miles of the proposed location.<br /></li><li>"Running for Need" - Two different groups within this classification.<br /><ul><li>The first is the ex-high school or college runner. He feels the need to remain active/competitive, but does not have the discipline to train alone. Will become an active runner in spurts, but not consistently because he needs motivation. Typically, the Running for Need segment is comprised of males between the ages of 18 - 30.<br /></li><li>The second are the individuals who have been told by a doctor, spouse, or employer that they need to get into better shape ... or else! This is a very enthusiastic runner initially, but, quickly realizes that this is not always fun and can become very boring. Again, not a consistent runner, but, can become one if they remain motivated. Motivation relies heavily on the support of family and friends. While it is impossible to determine the number of people in this segment, these folks may be one of the easier to contact. Through medical journals, health food stores, and medical offices, this is a prime target for referral marketing.</li></ul><br /></li><li>"Running Fashion" - This is someone who purchases running shoes, but, is not a runner. He/she simply likes the style or the feel of a quality running shoe. Many working people on their feet for extended periods, factory workers, delivery people, airport employees, any type of outdoor work not requiring safety shoes, and students are a few examples. </li></ol> <h3 id="4.1.2_Non-runners">4.1.2 Non-runners</h3> <ol><li>Infants - While not a high volume, the first pair of shoes for most infants is an athletic style. The first pair of Nikes or Pumas can be a very proud moment in a young family's development. Being able to properly measure and fit an infant's foot is critical to developing a following in this market segment. Credibility in the sales to the parents or older sibling will determine if you receive to opportunity to serve the newest member of the family. There are approximately 6,000 children below the age of five within three miles of the proposed location.<br /></li><li>Children - Possibly the most important segment other than adult running. With approximately 20,000 potential customers, this group must be a primary focus for any family business. Regardless of athletic level of participation or interest, virtually every child has at least one pair of athletic shoes. More often, children have several, depending on their preference of sports or style. The importance of capturing this business is intensified based upon the built-in obsolescence due to the growth of their feet. There are approximately 17,500 children between 5 - 12 within three miles of the proposed location.<br /></li><li>Teens - This used to be the most important segment in athletic footwear. The local teen boy and girl had to have the new Michael Jordan high-tops, at $100, every eight months. Today, that need has diminished, but teens still remain a critical element to a successful athletic shoe retailer. While it may not be the "required" footwear in middle or high school, it remains a primary asset of every teen's wardrobe. Due to their ever-present concern for being in style, most Coral Springs teens still require name brand, in-style athletic shoes in their stable of footwear. As well, every teen needs a pair for practical use. That may include participant sports, physical education class, or simply something to wear with jeans. Teens also wear a lot of sandals and athletic aqua/sandals, which are newer categories in athletic footwear stores. Coupled with their still-growing shoe size and concern for the latest style, teens remain an important focus. There are approximately 10,500 teenagers within three miles of the proposed location.<br /></li><li>Adults/Non Participant - While some adults never participate in a sport, almost all own a pair of athletic shoes. The non-participant adult may be the most difficult segment to capture. The upper income adult will still want name brand newer styles. The middle and lower income adults will look to the discount department stores and "discount shoe warehouse" concepts for practical athletic footwear. This customer is also less concerned about customer service and the proper fit, since they are not as hard on their athletic shoes and buy less frequently.<br /></li><li>Active Young Adult - Twenty to twenty-four years old. This is a small segment, approximately 5,500 people, but these individuals tend to be very active. Participating in sports is still a social activity for this primarily single group. Baseball, Basketball, Softball, Soccer, and Flag Football leagues are popular with this age.<br /></li><li>Adults/Participant - Twenty-five years old and above. This segment can be divided best by income level.<br /><ul><li>An active, upper income participant will look for quality, name-brand footwear based upon the sport that requires the purchase. These adults are willing to pay a higher price for a new style or features they deem are important.<br /></li><li>The active middle income participant will again look for a quality shoe at a competitive price. This group may not require the newest style, but still wants good quality with basic features for the sport they participate in. </li></ul></li></ol> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/d8822ec2daab4ae084239bca67b09bab.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/d8822ec2daab4ae084239bca67b09bab.png" width="450" /> </div> <h3 id="4.2_Target_Market_Segment_Strategy">4.2 Target Market Segment Strategy</h3> <p>We will focus on two primary market segments:</p><ol><li>The "Active Family" - The Active Family will be the focus of our non-running marketing effort. They give us the largest target, most opportunity for multiple sales, and allow us to gain further access into the community's numerous leagues. A typical active family would be described as parents in their late 30's and early 40's with two children. If the children each play two sports, that would require a minimum of two pair of shoes per year, for each. If the parents are also active, that could amount to an additional two pair per year. With the need to purchase six pair of shoes per year, we expect this family to make shoe purchases anywhere from three to six times during the year. They may visit the store an additional three to four times for accessories or simply to browse while in the center. For example, there are 13,000 participants in the Coral Springs Youth Soccer Program. Every one of them needs a new pair of soccer cleats every year. Currently, they need to leave Coral Springs to get a good selection of styles. This is a volume customer, but our goal is that the entire family comes along for the ride, and through service and knowledgeable sales help, an additional sale is consummated. This average sale will be approximately $40.<br /></li><li>The "True Runner/Weekend Warrior" - The next most important segments will be the participant runner. The average sale for this customer will be between $70 - $90. This customer should always make an additional purchase when visiting. Running socks, running apparel, running accessories, or supplements should be added to this ticket. By capturing the True Runner, the less serious runner will be attracted to the store to be able to associate with their more serious counterpart. </li></ol><p>We anticipate that 70% of our annual volume will come from these two classifications. The balance will be sport-specific buyers and non-family participants. </p> <h3 id="4.3_Industry_Analysis">4.3 Industry Analysis</h3> <p>The retail athletic footwear business has been tarnished in the past two years due in part to the failure of several highly visible large store formats. Most recently, Just For Feet filed Chapter 11 and is currently liquidating the entire company stock. In addition, several large general sporting goods retailers have either closed entirely or reduced the number of stores in the chain. There are a number of reasons for this demise, the lack of demand for high-priced basketball shoes being a primary reason. </p><p>For the general sporting goods chains, the drop in basketball shoe sales as well as the drop in popularity of NBA/Logo clothing has taken it's toll. The "superstore" concept in the sale of athletic shoes has proven to be unsuccessful. You can sell as many shoes in 2,000 sq. ft. as they were selling in 15,000 sq. ft. Neither of those concepts provided competent customer service in the purchase of a pair of participant shoes. Too many styles causing broken size ranges and constant clearance sales educated the consumer to not rush out to buy a new offering. Anyone looking for technical information when purchasing a pair of running shoes was simply unable to find it. </p><p>Successful athletic shoe stores are offering quality customer service and a strong assortment of the new style of shoes. They must also offer shoes in all price ranges, to assure that the entire family can be satisfied. </p><p>Our aggressive sales and marketing approach, while slightly reducing the gross margin, will allow for anticipate significant increases in volume (33% year two), to offset any reduction in net profits. </p> <h3 id="4.3.1_Competition_and_Buying_Patterns">4.3.1 Competition and Buying Patterns</h3> <p>When purchasing athletic footwear, customers need a knowledgeable sales person to guide them to the proper shoe. By offering our exclusive Athlete's Foot Computerized Scanner, as well as extensively trained associates, called Fit Technicians, we will provide the most sophisticated service in the market. </p><p>The competition within Coral Springs consists primarily of the regional mall athletic footwear stores. There are three stores in Coral Square Mall, all company owned. These stores cater to the "fashion athletic" customer. Coral Square Mall is a "B" mall, and has a reputation within the community of being a "hangout" for teenagers and gangs. The true participants generally have to leave Coral Springs for Boca Raton or East Ft. Lauderdale to shop in specialty running or sporting goods stores. Our advantage over these mall stores will be superior customer service and technical knowledge, and a more convenient atmosphere, which the mall stores cannot reproduce. </p><p>There are three children's specialty stores that carry infant and children's athletic footwear in Coral Springs. One is well entrenched in the community and will be a difficult competitor. Our advantage over these stores will be our larger assortment, specialty sport shoes (which these stores do not carry, ex; soccer and baseball cleats), and the ability to serve the entire family's athletic footwear needs. Our challenge will be their ability to provide non-athletic shoes for the youth customer. </p><p>The other competition will come from discount department stores (Wal-Mart, Kmart, Target), and discount "rack" shoe stores (Payless, Rack Room, Famous Footwear). These stores will serve the non-participant athletic shoe customer, which is not a primary customer of ours. We will carry an assortment of discontinued and clearance shoes, which should help us to be competitive with these stores.<br /></p><div id="sample_plan_page_name"> <h2>Strategy and Implementation Summary</h2> </div> <p>The Athlete's Foot uses a strategy of providing a service to the entire market. While we will focus on our two primary customer segments (active families and runners), we offer a product that virtually every consumer requires. </p><p>We will create an atmosphere that is appealing to the "true athletic footwear customer." The balance of customers will come because they will see this as the "place" where athletes buy their shoes. </p><p>The store will be merchandised in an exciting, athletic atmosphere. Televisions will continually play tapes of sporting events and live sports broadcasts. There will be posters highlighting the top athletes and their athletic shoe choices. There will also be a section to pick up information about upcoming races, events, and seminars. Eventually, race sign-ups will occur in the store as well as presentations from shoe manufacturers, product representatives, nutritionists, trainers, coaches, runners and hopefully, professional athletes. </p><p>Strategic Assumptions:</p><ol><li>Every resident in Coral Springs is a potential customer. </li><li>This location and co-tenancy gives us an opportunity to draw customers from outside Coral Springs. </li><li>By marketing to our two target segments, we will expose ourselves to additional new customers. </li><li>We will aggressively pursue the community sports programs through sponsorships. </li><li>We will build a running club/program, that caters to the "average" runner, versus the other clubs which cater to a more serious competitive runner. </li></ol> <h3 id="5.1_Competitive_Edge">5.1 Competitive Edge</h3> <p>Initially, our competitive edge will be the recognition of The Athlete's Foot as a national chain. There is a sense of comfort buying from a large chain. Our complete assortment and high-tech design will also immediately appeal to customers. </p><p>Once established, our superior customer service will set us apart from the competition. The foot scanner, which is proprietary to The Athlete's Foot, is an exciting development in quality athletic footwear service. This computerized scanner will actually prepare a "Fitprint," which determines the pressure points, balance, and wearing characteristics of your foot. The conversion rate to sales from customers using this Fitprint service is 70%. </p><p>The other edge we want to develop in the future is to be the "meeting place" for Coral Springs runners. This will be accomplished through our planned running club, sponsored races, sponsored fun runs, run for health awards programs, children and adult running clinics, and footwear seminars. In addition, we will be stocking a full assortment of running supplements, hydration fluids, protein bars, and other items that may be needed on a short notice basis. We have even envisioned a credit system where local runners can plan a rest/drink break in the store when running the local paths. They can stop in for hydration fluids or protein bars without having to carry money. </p><p>We have spoken with the Director of the Parks & Recreation Department for the City of Coral Springs. He has indicated that he would consider a program where The Athlete's Foot offers participants a 10% discount on all shoe purchases from the store. The customer would receive 5% and the league would receive 5%. In this manner, the league would support and promote the opportunity by including a flyer/coupon in the sign-up package for each participant. </p> <h3 id="5.2_Sales_Strategy">5.2 Sales Strategy</h3> <p>All potential sales will be attended to in a timely fashion. While there will be a sales incentive bonus program, long-term salesperson relationships will take precedence over sales closures. Our goal is that 50% of our customers return within six months. We will market directly to the customer through mailings, phone calls, league presentations, and Internet/email contact. </p><p>Sales associates will be trained to "turn-over" a customer who has a more specialized need, if they cannot fully service the requirement. </p><p>Special orders will be encouraged as a method to satisfy a specialized need. We will enforce as liberal a return policy as possible. Because of our affiliation with the 700-store Athlete's Foot chain, we can demand a higher level of service from vendors in regards to returns and special orders.</p> <h3 id="5.2.1_Sales_Forecast">5.2.1 Sales Forecast</h3> <p>The following table and chart show the forecasted sales for The Athlete's Foot.</p> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/9adb2376cf2b4e23bc8f86d1d320186c.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/9adb2376cf2b4e23bc8f86d1d320186c.png" width="450" /> </div> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/235ed2687ee54d869729e49505855448.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/235ed2687ee54d869729e49505855448.png" width="450" /> </div> <div id="table_1_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/strategy_and_implementation_summary_fc.cfm#table_1_big_div" rel="floatboxTable" rev="width:641px; height:225px" id="table_1_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_1" class="table"><tbody><tr class="TableFirstRow"> <td colspan="4" class="TD1" style="text-align: left; width: 47%;">Sales Forecast</td> </tr> <tr class="TableHeader1"> <td class="TD1" style="text-align: left; width: 47%;"> <br /></td><td class="TDOdd" style="text-align: right; width: 18%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 18%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 18%;"> Year 3</td> </tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 47%;">Sales</td> <td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 47%;">Footwear Sales</td> <td class="TDOdd" style="width: 18%;">$427,500 </td> <td class="TDEven" style="width: 18%;">$570,000 </td> <td class="TDOdd" style="width: 18%;">$665,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 47%;">Accessories / Apparel</td> <td class="TDOdd" style="width: 18%;">$22,500 </td> <td class="TDEven" style="width: 18%;">$30,000 </td> <td class="TDOdd" style="width: 18%;">$35,000 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 47%;">Total Sales</td> <td class="TDOdd" style="width: 18%;">$450,000 </td> <td class="TDEven" style="width: 18%;">$600,000 </td> <td class="TDOdd" style="width: 18%;">$700,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 47%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 47%;">Direct Cost of Sales</td> <td class="TDOdd" style="text-align: right; width: 18%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 18%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 18%;"> Year 3</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 47%;">Footwear Sales</td> <td class="TDOdd" style="width: 18%;">$235,125 </td> <td class="TDEven" style="width: 18%;">$313,500 </td> <td class="TDOdd" style="width: 18%;">$365,750 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 47%;">Accessories / Apparel</td> <td class="TDOdd" style="width: 18%;">$12,375 </td> <td class="TDEven" style="width: 18%;">$16,500 </td> <td class="TDOdd" style="width: 18%;">$19,250 </td> </tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 47%;">Subtotal Direct Cost of Sales</td> <td class="TDOdd" style="width: 18%;">$247,500 </td> <td class="TDEven" style="width: 18%;">$330,000 </td> <td class="TDOdd" style="width: 18%;">$385,000</td></tr></tbody></table><br /><div id="sample_plan_page_name"> <h2>Management Summary</h2> </div> <p>The Athlete's Foot Franchise will be owned by Jane and Howard Lefkowitz. Jane has been a public school teacher for the past 14 years in Dade County, Florida. Howard is the President of Sizeler Real Estate of Florida. Inc., which manages, leases, and develops 1 million sq. ft. of retail property in Florida for a NYSE REIT. Jane will run the daily operations of the business, including community relations. Howard will continue in his current position at Sizeler, but will assist in the buying, financial planning, and weekend coverage. </p> <h3 id="6.1_Personnel_Plan">6.1 Personnel Plan</h3> <p>The personnel plan is included in the following table. It shows the anticipated salary of the owner, assistant manager, full-time associate, and three part-time associates.</p><p>Jane Lefkowitz will manage the store on a daily basis. There will be a salaried assistant manager. We anticipate one additional full-time employee. One of these three people will open and close the store each day. The three part-time associates will work nights and weekend hours. In addition, Jessica Lefkowitz will work an average of one night and one weekend day per week. Howard Lefkowitz will also assist on the weekends. Salary and hourly wage estimates are detailed in the table below.</p><p>Below we have created a brief job profile and anticipated employee characteristics for each position. As we have stressed throughout the plan, customer service and knowledgeable employees are a primary focus for The Athlete's Foot. </p><p>Assistant Manager: </p><ul><li>Responsibility for opening and closing the store, receiving and stocking inventory, upkeep of the customer data base, visual merchandising and customer service. Also, share in the supervision and training of staff.<br /></li><li>This person would not necessarily need to be athletic or a runner. We are looking for dedication, honesty, strong work ethic and either some retail management experience or a strong business sense. Although a college graduate would be preferred, our salary projection may preclude that. This position has the most flexibility, due to the importance of experience and reliability. This associate would do less selling and more stock work and supervision than the others. A middle-aged woman whose children are in high school and is looking to get back into the work force may be an ideal candidate. In addition, a recent high school or military service graduate with a strong work ethic may also fit this position. This position will be eligible for a monthly overall sales incentive and annual goals bonus. </li></ul><p>Full-time Associate:</p><ul><li>This position will be primarily customer service oriented. This person will also assist with store opening and closing, as well as receiving merchandise. We would anticipate that this individual would have several specific areas of responsibility outside of sales. Those might be vendor returns and sales floor pricing.<br /></li><li>This associate would preferably have a background in retail shoe sales. They need the flexibility to work nights and weekends as required. We would like this associate to be a local resident, active in the community, possibly in the sports programs. A runner would be ideal for this position, but, certainly we cannot count on finding a person with each of those credentials. This position will be eligible for a sales-based incentive program. </li></ul><p>Part-time Associates: </p><ul><li>These associates would focus primarily on customer service. They will be working during the peak sales periods, in the evenings, and on weekends. They will need to be outgoing, friendly, professional, and presentable. They will need to be able to work well with children. While this type of position in our competition is generally filled with teenagers, we will be looking for local athletic teachers, coaches, and athletes who are looking to supplement their income. There will be a bonus program for generating leads on community contacts and sponsor programs, as well as for exceeding their sales goals. </li></ul> <div id="table_1_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/management_summary_fc.cfm#table_1_big_div" rel="floatboxTable" rev="width:680px; height:225px" id="table_1_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_1" class="table"><tbody><tr class="TableFirstRow"> <td colspan="4" class="TD1" style="text-align: left; width: 51%;">Personnel Plan</td> </tr> <tr class="TableHeader1"> <td class="TD1" style="text-align: left; width: 51%;"> <br /></td><td class="TDOdd" style="text-align: right; width: 16%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 16%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 16%;"> Year 3</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 51%;">Jane Lefkowitz, Owner / Mgr. / $18.K / Yr.</td> <td class="TDOdd" style="width: 16%;">$18,000 </td> <td class="TDEven" style="width: 16%;">$20,700 </td> <td class="TDOdd" style="width: 16%;">$23,500 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 51%;">Assistant Store Manager / $18K / Yr.</td> <td class="TDOdd" style="width: 16%;">$18,000 </td> <td class="TDEven" style="width: 16%;">$20,700 </td> <td class="TDOdd" style="width: 16%;">$23,500 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 51%;">Key Assoc. / $8.00 hr. - 40 hrs.</td> <td class="TDOdd" style="width: 16%;">$15,104 </td> <td class="TDEven" style="width: 16%;">$17,000 </td> <td class="TDOdd" style="width: 16%;">$18,275 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 51%;">Part Time Assoc. "A" - $6.00 / Hr.- 12 hrs</td> <td class="TDOdd" style="width: 16%;">$3,456 </td> <td class="TDEven" style="width: 16%;">$4,000 </td> <td class="TDOdd" style="width: 16%;">$4,500 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 51%;">Part Time Assoc. "B" - $6.00 / Hr. - 8 hrs.</td> <td class="TDOdd" style="width: 16%;">$2,304 </td> <td class="TDEven" style="width: 16%;">$2,550 </td> <td class="TDOdd" style="width: 16%;">$2,825 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 51%;">Part Time Assoc. "C" - $6.00 / Hr. - 8 hrs.</td> <td class="TDOdd" style="width: 16%;">$2,304 </td> <td class="TDEven" style="width: 16%;">$2,550 </td> <td class="TDOdd" style="width: 16%;">$2,825 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 51%;">Total People</td> <td class="TDOdd" style="width: 16%;">6</td> <td class="TDEven" style="width: 16%;">7 </td> <td class="TDOdd" style="width: 16%;">7 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 51%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 16%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 51%;">Total Payroll</td> <td class="TDOdd" style="width: 16%;">$59,168 </td> <td class="TDEven" style="width: 16%;">$67,500 </td> <td class="TDOdd" style="width: 16%;">$75,425</td></tr></tbody></table><br /><div id="sample_plan_page_name"> <h2>Financial Plan</h2> </div> <p>Sales growth will be aggressive the first 18 months as we sharpen our merchandise assortment, size scales, and stock levels to better meet our customer's requirements. We anticipate a sales increase of 33% during our second year of operation. </p><p>Marketing will continue to average 3% of total sales. </p><p>We will invest residual profits into reducing debt and the lost income from large cash holdings. </p><p>Company expansion, while not a necessity, will be an option if sales projections are met and/or exceeded. </p> <h3 id="7.1_Important_Assumptions">7.1 Important Assumptions</h3> <ol><li>The Athlete's Foot will grant a restriction against competitive stores within four miles of this location, other than the existing store in Coral Square Mall. </li><li>The Athlete's Foot will continue it's program of promoting better running shoes on a national level. </li><li>The space selected for this store will require minimal demolition and no changes to the restrooms, electrical, plumbing, or storefront to open The Athlete's Foot. </li><li>Bed, Bath & Beyond, Fresh Market and Blockbuster, which have all confirmed that these are strong locations, will remain in the center for at least the first three years of our operation. </li><li>We will be able to become an active sponsor of community sports within the City of Coral Springs. </li><li>We anticipate that we will be able to complete required financing, lease documents, franchise documents and space buildout to allow for a July 2000 opening. If not, we would most likely open in October, to be prepared for the holiday season. </li></ol> <div id="table_1_div" style="width: 450px; position: relative;"> <div id="table_1_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/financial_plan_fc.cfm#table_1_big_div" rel="floatboxTable" rev="width:635px; height:175px" id="table_1_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_1" class="table"> <tbody><tr class="TableFirstRow"> <td colspan="4" class="TD1" style="text-align: left; width: 39%;">General Assumptions</td> </tr> <tr class="TableHeader1"> <td class="TD1" style="text-align: left; width: 39%;"> <br /></td><td class="TDOdd" style="text-align: right; width: 20%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 20%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 20%;"> Year 3</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 39%;">Plan Month</td> <td class="TDOdd" style="text-align: right; width: 20%;">1</td> <td class="TDEven" style="text-align: right; width: 20%;">2</td> <td class="TDOdd" style="text-align: right; width: 20%;">3</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 39%;">Current Interest Rate</td> <td class="TDOdd" style="width: 20%;">9.00% </td> <td class="TDEven" style="width: 20%;">9.00% </td> <td class="TDOdd" style="width: 20%;">9.00% </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 39%;">Long-term Interest Rate</td> <td class="TDOdd" style="width: 20%;">10.00% </td> <td class="TDEven" style="width: 20%;">10.00% </td> <td class="TDOdd" style="width: 20%;">10.00% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 39%;">Tax Rate</td> <td class="TDOdd" style="width: 20%;">15.00% </td> <td class="TDEven" style="width: 20%;">25.00% </td> <td class="TDOdd" style="width: 20%;">15.00% </td> </tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 39%;">Other</td> <td class="TDOdd" style="width: 20%;">0 </td> <td class="TDEven" style="width: 20%;">0 </td> <td class="TDOdd" style="width: 20%;">0 </td> </tr> </tbody></table> </div> <h3 id="7.2_Projected_Profit_and_Loss">7.2 Projected Profit and Loss</h3> <p>We predict that during the second year of operation, our high level of customer service and strong assortment will allow us to generate approximately 5% profit. This will be above the normal two to three year period required for a start-up retailer. Our sales projections are conservative. Should sales increase as we anticipate, the profit-to-sales ratio could be as high as 10% by the end of year three. </p> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/34217d94b8d648e9a73e31147f9ec333.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/34217d94b8d648e9a73e31147f9ec333.png" width="450" /> </div> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/03769d8025924ab09c346f22e886574f.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/03769d8025924ab09c346f22e886574f.png" width="450" /> </div> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/7ebf7838f02b4af89835217b9b1e9da7.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/7ebf7838f02b4af89835217b9b1e9da7.png" width="450" /> </div> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/d062074b25634da4a25a9317e47c36b6.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/d062074b25634da4a25a9317e47c36b6.png" width="450" /> </div> <div id="table_2_div" style="width: 450px; position: relative;"> <div id="table_2_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/financial_plan_fc.cfm#table_2_big_div" rel="floatboxTable" rev="width:680px; height:358.34px" id="table_2_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_2" class="table"> <tbody><tr class="TableFirstRow"> <td colspan="4" class="TD1" style="text-align: left; width: 44%;">Pro Forma Profit and Loss</td> </tr> <tr class="TableHeader1"> <td class="TD1" style="text-align: left; width: 44%;"> <br /></td><td class="TDOdd" style="text-align: right; width: 19%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 19%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 19%;"> Year 3</td> </tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 44%;">Sales</td> <td class="TDOdd" style="width: 19%;">$450,000 </td> <td class="TDEven" style="width: 19%;">$600,000 </td> <td class="TDOdd" style="width: 19%;">$700,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;">Direct Cost of Sales</td> <td class="TDOdd" style="width: 19%;">$247,500 </td> <td class="TDEven" style="width: 19%;">$330,000 </td> <td class="TDOdd" style="width: 19%;">$385,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;">Other</td> <td class="TDOdd" style="width: 19%;">$9,000 </td> <td class="TDEven" style="width: 19%;">$12,000 </td> <td class="TDOdd" style="width: 19%;">$14,000 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 44%;">Total Cost of Sales</td> <td class="TDOdd" style="width: 19%;">$256,500 </td> <td class="TDEven" style="width: 19%;">$342,000 </td> <td class="TDOdd" style="width: 19%;">$399,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td><td class="TDEven" style="text-align: left; width: 19%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;">Gross Margin</td> <td class="TDOdd" style="width: 19%;">$193,500 </td> <td class="TDEven" style="width: 19%;">$258,000 </td> <td class="TDOdd" style="width: 19%;">$301,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;">Gross Margin %</td> <td class="TDOdd" style="width: 19%;">43.00% </td> <td class="TDEven" style="width: 19%;">43.00% </td> <td class="TDOdd" style="width: 19%;">43.00% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td><td class="TDEven" style="text-align: left; width: 19%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td><td class="TDEven" style="text-align: left; width: 19%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 44%;">Expenses</td> <td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td><td class="TDEven" style="text-align: left; width: 19%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;">Payroll</td> <td class="TDOdd" style="width: 19%;">$59,168 </td> <td class="TDEven" style="width: 19%;">$67,500 </td> <td class="TDOdd" style="width: 19%;">$75,425 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;">Sales and Marketing and Other Expenses</td> <td class="TDOdd" style="width: 19%;">$44,627 </td> <td class="TDEven" style="width: 19%;">$53,700 </td> <td class="TDOdd" style="width: 19%;">$59,750 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;">Depreciation</td> <td class="TDOdd" style="width: 19%;">$0 </td> <td class="TDEven" style="width: 19%;">$0 </td> <td class="TDOdd" style="width: 19%;">$0 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;">Royalties (5%)</td> <td class="TDOdd" style="width: 19%;">$22,500 </td> <td class="TDEven" style="width: 19%;">$30,000 </td> <td class="TDOdd" style="width: 19%;">$35,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;">Insurance</td> <td class="TDOdd" style="width: 19%;">$5,850 </td> <td class="TDEven" style="width: 19%;">$7,800 </td> <td class="TDOdd" style="width: 19%;">$9,100 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;">Rent</td> <td class="TDOdd" style="width: 19%;">$27,200 </td> <td class="TDEven" style="width: 19%;">$27,200 </td> <td class="TDOdd" style="width: 19%;">$27,200 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;">Payroll Taxes</td> <td class="TDOdd" style="width: 19%;">$5,917 </td> <td class="TDEven" style="width: 19%;">$6,750 </td> <td class="TDOdd" style="width: 19%;">$7,543 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;">Other</td> <td class="TDOdd" style="width: 19%;">$0 </td> <td class="TDEven" style="width: 19%;">$0 </td> <td class="TDOdd" style="width: 19%;">$0 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td><td class="TDEven" style="text-align: left; width: 19%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 44%;">Total Operating Expenses</td> <td class="TDOdd" style="width: 19%;">$165,262 </td> <td class="TDEven" style="width: 19%;">$192,950 </td> <td class="TDOdd" style="width: 19%;">$214,018 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td><td class="TDEven" style="text-align: left; width: 19%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;">Profit Before Interest and Taxes</td> <td class="TDOdd" style="width: 19%;">$28,238 </td> <td class="TDEven" style="width: 19%;">$65,050 </td> <td class="TDOdd" style="width: 19%;">$86,983 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;">EBITDA</td> <td class="TDOdd" style="width: 19%;">$28,238 </td> <td class="TDEven" style="width: 19%;">$65,050 </td> <td class="TDOdd" style="width: 19%;">$86,983 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;"> Interest Expense</td> <td class="TDOdd" style="width: 19%;">$15,281 </td> <td class="TDEven" style="width: 19%;">$12,593 </td> <td class="TDOdd" style="width: 19%;">$9,788 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 44%;"> Taxes Incurred</td> <td class="TDOdd" style="width: 19%;">$4,683 </td> <td class="TDEven" style="width: 19%;">$13,114 </td> <td class="TDOdd" style="width: 19%;">$11,579 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 44%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td><td class="TDEven" style="text-align: left; width: 19%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 19%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 44%;">Net Profit</td> <td class="TDOdd" style="width: 19%;">$8,274 </td> <td class="TDEven" style="width: 19%;">$39,343 </td> <td class="TDOdd" style="width: 19%;">$65,616 </td> </tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 44%;">Net Profit/Sales</td> <td class="TDOdd" style="width: 19%;">1.84% </td> <td class="TDEven" style="width: 19%;">6.56% </td> <td class="TDOdd" style="width: 19%;">9.37% </td> </tr> </tbody></table> </div> <h3 id="7.3_Break-even_Analysis">7.3 Break-even Analysis</h3> <p>A Break-even Analysis table has been completed on the basis of average costs/prices. With fixed costs, per average sale and average variable costs, we need monthly sales, as shown below, to break even. </p> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/4a2673d4820b40d8aa69a2c1eba6d951.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/4a2673d4820b40d8aa69a2c1eba6d951.png" width="450" /> </div> <div id="table_3_div" style="width: 450px; position: relative;"> <div id="table_3_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/financial_plan_fc.cfm#table_3_big_div" rel="floatboxTable" rev="width:323px; height:149px" id="table_3_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_3" class="table"> <tbody><tr class="TableFirstRow"> <td colspan="2" class="TD1" style="text-align: left; width: 71%;">Break-even Analysis</td></tr><tr class="TableHeader1"><td><br /></td> <td class="TDOdd" style="text-align: left; width: 29%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 71%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 29%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 71%;">Monthly Revenue Break-even</td> <td class="TDOdd" style="width: 29%;">$30,604 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 71%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 29%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 71%;">Assumptions:</td> <td class="TDOdd" style="text-align: left; width: 29%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 71%;">Average Percent Variable Cost</td> <td class="TDOdd" style="width: 29%;">55% </td> </tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 71%;">Estimated Monthly Fixed Cost</td> <td class="TDOdd" style="width: 29%;">$13,772 </td> </tr> </tbody></table> </div> <h3 id="7.4_Projected_Cash_Flow">7.4 Projected Cash Flow</h3> <p>We are positioning ourselves as a minimal risk concern, with steady cash flows. While we have not accounted for it in the projections, we anticipate receiving two or three months free base rent after store opening. That will help us reduce costs and increase marketing during the start-up period. We have allowed for a more aggressive cash balance initially, to allow us to react quickly to unforseen merchandise needs, missed classifications, "hot item" reorders and hopefully, higher than anticipated sales. This is particularly important for our first back to school and holiday sales periods. If we capture previous "mall customers" as anticipated, our sales could increase as much as 25% during the first two quarters of operations. </p><p>Once we have established a required cash balance level, (approximately six months after opening), we will reduce the projected cash balance to decrease debt and decrease the opportunity of cash held. </p> <div style="position: relative;"> <div style="position: absolute; top: 0px; right: 0px; width: 111px; height: 15px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/13061ab3e8934b91842c2e2a761a4793.png" rel="floatboxCharts"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <img height="260" src="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/images/13061ab3e8934b91842c2e2a761a4793.png" width="450" /> </div> <div id="table_4_div" style="width: 450px; position: relative;"> <div id="table_4_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/financial_plan_fc.cfm#table_4_big_div" rel="floatboxTable" rev="width:680px; height:358.34px" id="table_4_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_4" class="table"> <tbody><tr class="TableFirstRow"> <td colspan="4" class="TD1" style="text-align: left; width: 49%;">Pro Forma Cash Flow</td> </tr> <tr class="TableHeader1"> <td class="TD1" style="text-align: left; width: 49%;"> <br /></td><td class="TDOdd" style="text-align: right; width: 17%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 17%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 17%;"> Year 3</td> </tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 49%;">Cash Received</td> <td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">Cash from Operations</td> <td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">Cash Sales</td> <td class="TDOdd" style="width: 17%;">$450,000 </td> <td class="TDEven" style="width: 17%;">$600,000 </td> <td class="TDOdd" style="width: 17%;">$700,000 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 49%;">Subtotal Cash from Operations</td> <td class="TDOdd" style="width: 17%;">$450,000 </td> <td class="TDEven" style="width: 17%;">$600,000 </td> <td class="TDOdd" style="width: 17%;">$700,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">Additional Cash Received</td> <td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">Sales Tax, VAT, HST/GST Received</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">New Current Borrowing</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">New Other Liabilities (interest-free)</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">New Long-term Liabilities</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">Sales of Other Current Assets</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">Sales of Long-term Assets</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">New Investment Received</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 49%;">Subtotal Cash Received</td> <td class="TDOdd" style="width: 17%;">$450,000 </td> <td class="TDEven" style="width: 17%;">$600,000 </td> <td class="TDOdd" style="width: 17%;">$700,000 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 49%;">Expenditures</td> <td class="TDOdd" style="text-align: right; width: 17%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 17%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 17%;"> Year 3</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">Expenditures from Operations</td> <td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">Cash Spending</td> <td class="TDOdd" style="width: 17%;">$59,168 </td> <td class="TDEven" style="width: 17%;">$67,500 </td> <td class="TDOdd" style="width: 17%;">$75,425 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">Bill Payments</td> <td class="TDOdd" style="width: 17%;">$291,509 </td> <td class="TDEven" style="width: 17%;">$489,471 </td> <td class="TDOdd" style="width: 17%;">$558,653 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 49%;">Subtotal Spent on Operations</td> <td class="TDOdd" style="width: 17%;">$350,677 </td> <td class="TDEven" style="width: 17%;">$556,971 </td> <td class="TDOdd" style="width: 17%;">$634,078 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">Additional Cash Spent</td> <td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">Sales Tax, VAT, HST/GST Paid Out</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">Principal Repayment of Current Borrowing</td> <td class="TDOdd" style="width: 17%;">$4,500 </td> <td class="TDEven" style="width: 17%;">$4,500 </td> <td class="TDOdd" style="width: 17%;">$4,500 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">Other Liabilities Principal Repayment</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">Long-term Liabilities Principal Repayment</td> <td class="TDOdd" style="width: 17%;">$24,000 </td> <td class="TDEven" style="width: 17%;">$24,000 </td> <td class="TDOdd" style="width: 17%;">$24,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">Purchase Other Current Assets</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 49%;">Purchase Long-term Assets</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;">Dividends</td> <td class="TDOdd" style="width: 17%;">$0 </td> <td class="TDEven" style="width: 17%;">$0 </td> <td class="TDOdd" style="width: 17%;">$0 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 49%;">Subtotal Cash Spent</td> <td class="TDOdd" style="width: 17%;">$379,177 </td> <td class="TDEven" style="width: 17%;">$585,471 </td> <td class="TDOdd" style="width: 17%;">$662,578 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 49%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td><td class="TDEven" style="text-align: left; width: 17%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 17%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 49%;">Net Cash Flow</td> <td class="TDOdd" style="width: 17%;">$70,823 </td> <td class="TDEven" style="width: 17%;">$14,529 </td> <td class="TDOdd" style="width: 17%;">$37,422 </td> </tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 49%;">Cash Balance</td> <td class="TDOdd" style="width: 17%;">$98,823 </td> <td class="TDEven" style="width: 17%;">$113,352 </td> <td class="TDOdd" style="width: 17%;">$150,774 </td> </tr> </tbody></table> </div> <h3 id="7.5_Projected_Balance_Sheet">7.5 Projected Balance Sheet</h3> <p>All of our tables will be updated monthly to reflect past performance and future assumptions. Future assumptions will not be based solely on past performance but rather on economic cycle activity, regional retail indicators, national athletic footwear trends, and future cash flow possibilities. We have been, and will continue to be, working with an experienced partner in a large and well respected regional CPA firm, who has both personal and professional experience in start-up retail operations. </p><p>We expect solid growth in net worth beyond the first fiscal year of operation. </p> <div id="table_5_div" style="width: 450px; position: relative;"> <div id="table_5_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/financial_plan_fc.cfm#table_5_big_div" rel="floatboxTable" rev="width:654px; height:358.34px" id="table_5_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_5" class="table"> <tbody><tr class="TableFirstRow"> <td colspan="4" class="TD1" style="text-align: left; width: 45%;">Pro Forma Balance Sheet</td> </tr> <tr class="TableHeader1"> <td class="TD1" style="text-align: left; width: 45%;"> <br /></td><td class="TDOdd" style="text-align: right; width: 18%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 18%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 18%;"> Year 3</td> </tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 45%;">Assets</td> <td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;">Current Assets</td> <td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;">Cash</td> <td class="TDOdd" style="width: 18%;">$98,823 </td> <td class="TDEven" style="width: 18%;">$113,352 </td> <td class="TDOdd" style="width: 18%;">$150,774 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;">Inventory</td> <td class="TDOdd" style="width: 18%;">$22,052 </td> <td class="TDEven" style="width: 18%;">$29,403 </td> <td class="TDOdd" style="width: 18%;">$34,303 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;">Other Current Assets</td> <td class="TDOdd" style="width: 18%;">$1,000 </td> <td class="TDEven" style="width: 18%;">$1,000 </td> <td class="TDOdd" style="width: 18%;">$1,000 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 45%;">Total Current Assets</td> <td class="TDOdd" style="width: 18%;">$121,875 </td> <td class="TDEven" style="width: 18%;">$143,755 </td> <td class="TDOdd" style="width: 18%;">$186,077 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;">Long-term Assets</td> <td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;">Long-term Assets</td> <td class="TDOdd" style="width: 18%;">$70,000 </td> <td class="TDEven" style="width: 18%;">$70,000 </td> <td class="TDOdd" style="width: 18%;">$70,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;">Accumulated Depreciation</td> <td class="TDOdd" style="width: 18%;">$0 </td> <td class="TDEven" style="width: 18%;">$0 </td> <td class="TDOdd" style="width: 18%;">$0 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 45%;">Total Long-term Assets</td> <td class="TDOdd" style="width: 18%;">$70,000 </td> <td class="TDEven" style="width: 18%;">$70,000 </td> <td class="TDOdd" style="width: 18%;">$70,000 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 45%;">Total Assets</td> <td class="TDOdd" style="width: 18%;">$191,875 </td> <td class="TDEven" style="width: 18%;">$213,755 </td> <td class="TDOdd" style="width: 18%;">$256,077 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 45%;">Liabilities and Capital</td> <td class="TDOdd" style="text-align: right; width: 18%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 18%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 18%;"> Year 3</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;">Current Liabilities</td> <td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;">Accounts Payable</td> <td class="TDOdd" style="width: 18%;">$30,101 </td> <td class="TDEven" style="width: 18%;">$41,138 </td> <td class="TDOdd" style="width: 18%;">$46,345 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;">Current Borrowing</td> <td class="TDOdd" style="width: 18%;">$15,500 </td> <td class="TDEven" style="width: 18%;">$11,000 </td> <td class="TDOdd" style="width: 18%;">$6,500 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;">Other Current Liabilities</td> <td class="TDOdd" style="width: 18%;">$0 </td> <td class="TDEven" style="width: 18%;">$0 </td> <td class="TDOdd" style="width: 18%;">$0 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 45%;">Subtotal Current Liabilities</td> <td class="TDOdd" style="width: 18%;">$45,601 </td> <td class="TDEven" style="width: 18%;">$52,138 </td> <td class="TDOdd" style="width: 18%;">$52,845 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;">Long-term Liabilities</td> <td class="TDOdd" style="width: 18%;">$126,000 </td> <td class="TDEven" style="width: 18%;">$102,000 </td> <td class="TDOdd" style="width: 18%;">$78,000 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 45%;">Total Liabilities</td> <td class="TDOdd" style="width: 18%;">$171,601 </td> <td class="TDEven" style="width: 18%;">$154,138 </td> <td class="TDOdd" style="width: 18%;">$130,845 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;">Paid-in Capital</td> <td class="TDOdd" style="width: 18%;">$70,000 </td> <td class="TDEven" style="width: 18%;">$70,000 </td> <td class="TDOdd" style="width: 18%;">$70,000 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;">Retained Earnings</td> <td class="TDOdd" style="width: 18%;">($58,000)</td> <td class="TDEven" style="width: 18%;">($49,726)</td> <td class="TDOdd" style="width: 18%;">($10,383)</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 45%;">Earnings</td> <td class="TDOdd" style="width: 18%;">$8,274 </td> <td class="TDEven" style="width: 18%;">$39,343 </td> <td class="TDOdd" style="width: 18%;">$65,616 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 45%;">Total Capital</td> <td class="TDOdd" style="width: 18%;">$20,274 </td> <td class="TDEven" style="width: 18%;">$59,617 </td> <td class="TDOdd" style="width: 18%;">$125,233 </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 45%;">Total Liabilities and Capital</td> <td class="TDOdd" style="width: 18%;">$191,875 </td> <td class="TDEven" style="width: 18%;">$213,755 </td> <td class="TDOdd" style="width: 18%;">$256,077 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 45%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td><td class="TDEven" style="text-align: left; width: 18%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 18%;"> <br /></td></tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 45%;">Net Worth</td> <td class="TDOdd" style="width: 18%;">$20,274 </td> <td class="TDEven" style="width: 18%;">$59,617 </td> <td class="TDOdd" style="width: 18%;">$125,233 </td> </tr> </tbody></table> </div> <h3 id="7.6_Business_Ratios">7.6 Business Ratios</h3> <p>The following table contains important business ratios for the retail athletic shoe store industry, as determined by the Standard Industry Classification (SIC) Index code 5661.</p> <div id="table_6_mag" style="overflow: hidden; position: absolute; right: 0px; top: 0px; z-index: 2; width: 0px; height: 0px;"><a href="http://www.bplans.com/athletic_shoe_store_franchise_business_plan/financial_plan_fc.cfm#table_6_big_div" rel="floatboxTable" rev="width:680px; height:358.34px" id="table_6_mag_link"><img border="0" height="15" src="http://www.bplans.com/Graphical/images/sbp_images/click_to_enlarge.gif" width="111" /></a></div> <table style="font-size: 11px;" id="table_6" class="table"><tbody><tr class="TableFirstRow"> <td colspan="5" class="TD1" style="text-align: left; width: 42%;">Ratio Analysis</td> </tr> <tr class="TableHeader1"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: right; width: 14%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 14%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 14%;"> Year 3</td> <td class="TDEven" style="text-align: right; width: 16%;">Industry Profile</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Sales Growth</td> <td class="TDOdd" style="width: 14%;">0.00% </td> <td class="TDEven" style="width: 14%;">33.33% </td> <td class="TDOdd" style="width: 14%;">16.67% </td> <td class="TDEven" style="width: 16%;">0.20% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 42%;">Percent of Total Assets</td> <td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Inventory</td> <td class="TDOdd" style="width: 14%;">11.49% </td> <td class="TDEven" style="width: 14%;">13.76% </td> <td class="TDOdd" style="width: 14%;">13.40% </td> <td class="TDEven" style="width: 16%;">46.40% </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Other Current Assets</td> <td class="TDOdd" style="width: 14%;">0.52% </td> <td class="TDEven" style="width: 14%;">0.47% </td> <td class="TDOdd" style="width: 14%;">0.39% </td> <td class="TDEven" style="width: 16%;">25.30% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Total Current Assets</td> <td class="TDOdd" style="width: 14%;">63.52% </td> <td class="TDEven" style="width: 14%;">67.25% </td> <td class="TDOdd" style="width: 14%;">72.66% </td> <td class="TDEven" style="width: 16%;">80.30% </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Long-term Assets</td> <td class="TDOdd" style="width: 14%;">36.48% </td> <td class="TDEven" style="width: 14%;">32.75% </td> <td class="TDOdd" style="width: 14%;">27.34% </td> <td class="TDEven" style="width: 16%;">19.70% </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 42%;">Total Assets</td> <td class="TDOdd" style="width: 14%;">100.00% </td> <td class="TDEven" style="width: 14%;">100.00% </td> <td class="TDOdd" style="width: 14%;">100.00% </td> <td class="TDEven" style="width: 16%;">100.00% </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Current Liabilities</td> <td class="TDOdd" style="width: 14%;">23.77% </td> <td class="TDEven" style="width: 14%;">24.39% </td> <td class="TDOdd" style="width: 14%;">20.64% </td> <td class="TDEven" style="width: 16%;">38.40% </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Long-term Liabilities</td> <td class="TDOdd" style="width: 14%;">65.67% </td> <td class="TDEven" style="width: 14%;">47.72% </td> <td class="TDOdd" style="width: 14%;">30.46% </td> <td class="TDEven" style="width: 16%;">14.50% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Total Liabilities</td> <td class="TDOdd" style="width: 14%;">89.43% </td> <td class="TDEven" style="width: 14%;">72.11% </td> <td class="TDOdd" style="width: 14%;">51.10% </td> <td class="TDEven" style="width: 16%;">52.90% </td> </tr> <tr class="TableSubtotal"> <td class="TD1" style="text-align: left; width: 42%;">Net Worth</td> <td class="TDOdd" style="width: 14%;">10.57% </td> <td class="TDEven" style="width: 14%;">27.89% </td> <td class="TDOdd" style="width: 14%;">48.90% </td> <td class="TDEven" style="width: 16%;">47.10% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 42%;">Percent of Sales</td> <td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Sales</td> <td class="TDOdd" style="width: 14%;">100.00% </td> <td class="TDEven" style="width: 14%;">100.00% </td> <td class="TDOdd" style="width: 14%;">100.00% </td> <td class="TDEven" style="width: 16%;">100.00% </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Gross Margin</td> <td class="TDOdd" style="width: 14%;">43.00% </td> <td class="TDEven" style="width: 14%;">43.00% </td> <td class="TDOdd" style="width: 14%;">43.00% </td> <td class="TDEven" style="width: 16%;">45.70% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Selling, General & Administrative Expenses</td> <td class="TDOdd" style="width: 14%;">41.14% </td> <td class="TDEven" style="width: 14%;">36.44% </td> <td class="TDOdd" style="width: 14%;">33.58% </td> <td class="TDEven" style="width: 16%;">28.60% </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Advertising Expenses</td> <td class="TDOdd" style="width: 14%;">0.55% </td> <td class="TDEven" style="width: 14%;">0.55% </td> <td class="TDOdd" style="width: 14%;">0.55% </td> <td class="TDEven" style="width: 16%;">2.60% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Profit Before Interest and Taxes</td> <td class="TDOdd" style="width: 14%;">6.28% </td> <td class="TDEven" style="width: 14%;">10.84% </td> <td class="TDOdd" style="width: 14%;">12.43% </td> <td class="TDEven" style="width: 16%;">0.70% </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 42%;">Main Ratios</td> <td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Current</td> <td class="TDOdd" style="width: 14%;">2.67 </td> <td class="TDEven" style="width: 14%;">2.76 </td> <td class="TDOdd" style="width: 14%;">3.52 </td> <td class="TDEven" style="width: 16%;">2.28 </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Quick</td> <td class="TDOdd" style="width: 14%;">2.19 </td> <td class="TDEven" style="width: 14%;">2.19 </td> <td class="TDOdd" style="width: 14%;">2.87 </td> <td class="TDEven" style="width: 16%;">0.63 </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Total Debt to Total Assets</td> <td class="TDOdd" style="width: 14%;">89.43% </td> <td class="TDEven" style="width: 14%;">72.11% </td> <td class="TDOdd" style="width: 14%;">51.10% </td> <td class="TDEven" style="width: 16%;">52.90% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Pre-tax Return on Net Worth</td> <td class="TDOdd" style="width: 14%;">63.91% </td> <td class="TDEven" style="width: 14%;">87.99% </td> <td class="TDOdd" style="width: 14%;">61.64% </td> <td class="TDEven" style="width: 16%;">1.50% </td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Pre-tax Return on Assets</td> <td class="TDOdd" style="width: 14%;">6.75% </td> <td class="TDEven" style="width: 14%;">24.54% </td> <td class="TDOdd" style="width: 14%;">30.15% </td> <td class="TDEven" style="width: 16%;">3.20% </td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 42%;">Additional Ratios</td> <td class="TDOdd" style="text-align: right; width: 14%;"> Year 1</td> <td class="TDEven" style="text-align: right; width: 14%;"> Year 2</td> <td class="TDOdd" style="text-align: right; width: 14%;"> Year 3</td> <td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Net Profit Margin</td> <td class="TDOdd" style="width: 14%;">1.84% </td> <td class="TDEven" style="width: 14%;">6.56% </td> <td class="TDOdd" style="width: 14%;">9.37% </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Return on Equity</td> <td class="TDOdd" style="width: 14%;">40.81% </td> <td class="TDEven" style="width: 14%;">65.99% </td> <td class="TDOdd" style="width: 14%;">52.40% </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 42%;">Activity Ratios</td> <td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Inventory Turnover</td> <td class="TDOdd" style="width: 14%;">9.37 </td> <td class="TDEven" style="width: 14%;">12.83 </td> <td class="TDOdd" style="width: 14%;">12.09 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Accounts Payable Turnover</td> <td class="TDOdd" style="width: 14%;">10.62 </td> <td class="TDEven" style="width: 14%;">12.17 </td> <td class="TDOdd" style="width: 14%;">12.17 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Payment Days</td> <td class="TDOdd" style="width: 14%;">27 </td> <td class="TDEven" style="width: 14%;">26 </td> <td class="TDOdd" style="width: 14%;">28 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Total Asset Turnover</td> <td class="TDOdd" style="width: 14%;">2.35 </td> <td class="TDEven" style="width: 14%;">2.81 </td> <td class="TDOdd" style="width: 14%;">2.73 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 42%;">Debt Ratios</td> <td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Debt to Net Worth</td> <td class="TDOdd" style="width: 14%;">8.46 </td> <td class="TDEven" style="width: 14%;">2.59 </td> <td class="TDOdd" style="width: 14%;">1.04 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Current Liab. to Liab.</td> <td class="TDOdd" style="width: 14%;">0.27 </td> <td class="TDEven" style="width: 14%;">0.34 </td> <td class="TDOdd" style="width: 14%;">0.40 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 42%;">Liquidity Ratios</td> <td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Net Working Capital</td> <td class="TDOdd" style="width: 14%;">$76,274 </td> <td class="TDEven" style="width: 14%;">$91,617 </td> <td class="TDOdd" style="width: 14%;">$133,233 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Interest Coverage</td> <td class="TDOdd" style="width: 14%;">1.85 </td> <td class="TDEven" style="width: 14%;">5.17 </td> <td class="TDOdd" style="width: 14%;">8.89 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TableHeader2"> <td class="TD1" style="text-align: left; width: 42%;">Additional Ratios</td> <td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 14%;"> <br /></td><td class="TDOdd" style="text-align: left; width: 14%;"> <br /></td><td class="TDEven" style="text-align: left; width: 16%;"> <br /></td></tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Assets to Sales</td> <td class="TDOdd" style="width: 14%;">0.43 </td> <td class="TDEven" style="width: 14%;">0.36 </td> <td class="TDOdd" style="width: 14%;">0.37 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Current Debt/Total Assets</td> <td class="TDOdd" style="width: 14%;">24% </td> <td class="TDEven" style="width: 14%;">24% </td> <td class="TDOdd" style="width: 14%;">21% </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TROdd"> <td class="TD1" style="text-align: left; width: 42%;">Acid Test </td> <td class="TDOdd" style="width: 14%;">2.19 </td> <td class="TDEven" style="width: 14%;">2.19 </td> <td class="TDOdd" style="width: 14%;">2.87 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TREven"> <td class="TD1" style="text-align: left; width: 42%;">Sales/Net Worth</td> <td class="TDOdd" style="width: 14%;">22.20 </td> <td class="TDEven" style="width: 14%;">10.06 </td> <td class="TDOdd" style="width: 14%;">5.59 </td> <td class="TDEven" style="text-align: right; width: 16%;">n.a</td> </tr> <tr class="TableLastRow"> <td class="TD1" style="text-align: left; width: 42%;">Dividend Payout</td> <td class="TDOdd" style="width: 14%;"> 0.00 </td> <td class="TDEven" style="width: 14%;">0.00 </td> <td class="TDOdd" style="width: 14%;">0.00 </td> <td class="TDEven" style="text-align: right; width: 16%;"><br /></td></tr></tbody></table><table style="font-size: 11px;" id="table_1" class="table"><tbody><tr class="TREven"><td class="TDEven" style="width: 16%;"><br /></td></tr><tr class="TROdd"><td class="TDEven" style="width: 16%;"><br /></td></tr><tr class="TREven"><td class="TDEven" style="width: 16%;"><br /></td></tr><tr class="TROdd"><td class="TDEven" style="width: 16%;"><br /></td></tr><tr class="TREven"><td class="TDEven" style="width: 16%;"><br /></td></tr><tr class="TROdd"><td class="TDEven" style="width: 16%;"><br /></td></tr><tr class="TableSubtotal"><td class="TDEven" style="width: 16%;"><br /></td></tr><tr class="TROdd"><td class="TDEven" style="text-align: left; width: 16%;"><br /></td></tr><tr class="TableLastRow"><td class="TDEven" style="width: 16%;"><br /></td></tr></tbody></table> </div> </div> </div> <div style='clear: both;'></div> </div> <div class='post-footer'> <div class='post-footer-line post-footer-line-1'> <span class='post-author vcard'> Posted by <span class='fn' itemprop='author' itemscope='itemscope' itemtype='http://schema.org/Person'> <meta 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