Projection
| IBMC China AG |
| Projects for 2008, 2009 and 2010 |
| |
Income Statement |
Units in RMB |
| |
10 Months
ended 12/ 31/08 |
12 Months
ended 12/ 31/09 |
12 Months
ended 12/ 31/10 |
| Number of Stores |
|
|
|
| Company Owned Stores |
25 |
40 |
60 |
| Franchisee Stores |
5 |
20 |
60 |
| Merger Deal - 51% Ownership |
70 |
120 |
180 |
| Total Number of Stores |
100 |
180 |
300 |
| Revenue -Sales |
|
|
|
| Company Own Stores (Note 1) |
3,000,000 |
7,800,000 |
12,000,000 |
| Franchisee Stores (Note 1) |
600,000 |
3,000,000 |
9,600,000 |
| Meger Deal - 51% Ownship (Note 2) |
8,400,000 |
22,800,000 |
36,000,000 |
| Total Gross Revenue |
12,000,000 |
33,600,000 |
57,600,000 |
| Cost of Goods Sold |
|
|
|
| Company Own Stores (Note 2) |
1,500,000 |
3,900,000 |
6,000,000 |
| Franchisee Stores (Note 2) |
525,000 |
2,625,000 |
8,400,000 |
| Meger Deal - 51% Ownship (Note 2) |
6,300,000 |
8,550,000 |
13,500,000 |
| Total Cost of Goods Sold |
8,325,000 |
15,075,000 |
27,900,000 |
| Gross Profit |
3,675,000 |
18,525,000 |
29,700,000 |
| Expenses |
|
|
|
| Payroll In Office (Note 3) |
210,000 |
434,000 |
780,500 |
| Payroll in Corp. Store (Note 3) |
450,000 |
1,170,000 |
1,800,000 |
| Payroll in 51% Merger Store (Note 4) |
315,000 |
648,750 |
1,102,500 |
| Rent (Note 5) |
240,000 |
840,000 |
1,680,000 |
| Rent - 51% Merger Deal (Note 6) |
840,000 |
2,280,000 |
3,600,000 |
| Employee Benefits (Note 7) |
243,750 |
563,188 |
920,750 |
| Promotion and Advertisements (Note 8) |
600,000 |
1,680,000 |
2,880,000 |
| Others (Note 9) |
1,200,000 |
3,360,000 |
5,760,000 |
| Total Expenses |
4,098,750 |
10,975,938 |
18,523,750 |
| NET PROFIT (Loss) |
-423,750 |
7,549,063 |
11,176,250 |
| Employee Headcount in Office |
10 |
18 |
32 |
| Employee Headcount in Corp Store |
50 |
80 |
120 |
| |
| Note 1: Assume Company Owned Stores average RMB 20,000 sales per month. The new store opening will even out through the year |
| Note 2: Cost of Goods Sold, Company Owned are 50%, Franchisee Store 12.5% and 51% Merger Deal Stores, Cost are 25% |
| Note 3: Payroll for Corp Stores are budget at 2 persons per store at RMB 1,500 per month, Office at RMB 3,500 |
| Note 4: Payroll for 51% Merger stores are budget at 2 persons per store at RMB 1,500 per month, we responsible for 51% |
| Note 5: 20,000 RMB per month for 2008, 70,000 RMB per month for 300 square meter office in 2008 double on 2009 |
| Note 6: 51% Merger Pays Master Landlord for the location approx. 20% of the sales. |
| Note 7 : Employee Benefits are 25% of the payroll which includes insurance, employer taxes, etc. |
| Note 8: Promotion and Advertisements is budgeted at 5% of Merchandise Sold |
| Note 9: Others is budget at 10% of Gross Revenue - Sales |
|
|
|
