{"text_format":"1","workbook":"xlsx","n_sheets":16,"sheets":["Macros Required","Welcome","Input","Sensitivity Analysis","Valuation Analysis","Expected Results","Optimistic Results","Pessimistic Results","Forecast Revenue Chart","Forecast Return Chart","Operating Surplus Chart","Surplus & Return % Chart","Instructions","Terms and Conditions","Worksheet","Scratch"],"not_rendered":{"charts":8,"images":12,"macros":1,"external_links":0,"defined_names":20,"comments":3,"pivot_tables":0},"unopened":[{"sheet":"Forecast Revenue Chart","index":8,"reason":"not_a_worksheet"},{"sheet":"Forecast Return Chart","index":9,"reason":"not_a_worksheet"},{"sheet":"Operating Surplus Chart","index":10,"reason":"not_a_worksheet"},{"sheet":"Surplus & Return % Chart","index":11,"reason":"not_a_worksheet"}],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Macros Required","index":0,"n_rows":18,"n_cols":2,"rows_kept":18,"cut":false,"hidden":true,"merged":[]}
[]
[null,{"$f":"\"Macros Required - \" & 'Terms and Conditions'!B3","v":"Macros Required - Business Valuation Model Excel 50"}]
[]
[null,"This software uses macros and has been digitally signed."]
[]
[null," Macros must be enabled for the software to function."]
[]
[null,"To adjust macro security levels from Excel go Tools, Macro, Security, Security Level. It is recommended that you select Security Level as Medium. When you open software with macros and Security Level is set as Medium you are presented with a message advising that the software contains macros with a prompt to Disable or Enable Macros "]
[]
[null,"If macros are disabled you cannot access the Input Sheet."]
[]
[null,"You should close this software and reopen, do not disable macros."]
[]
[null,"Additional detail on macros is available in Microsoft Excel Help."]
[]
[null,"By proceeding you acknowledge acceptance of our"]
[null,"Terms and Conditions"]
[null,{"$f":"+Welcome!B31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."}]

{"sheet":"Welcome","index":1,"n_rows":31,"n_cols":2,"rows_kept":31,"cut":false,"hidden":false,"merged":[]}
[]
[null,{"$f":"\"Welcome\"","v":"Welcome"}]
[null,{"$f":"'Terms and Conditions'!B3","v":"Business Valuation Model Excel 50"}]
[]
[null,"Initial input is in blue cells on the Input Sheet. Use the tabs at the bottom of the window to select the Input Sheet. Non-input cells are protected to maintain formula integrity. "]
[null,{"$f":"'Terms and Conditions'!B4","v":"Software licensed to"}]
[null,{"$f":"'Terms and Conditions'!B5","v":"Not Licensed, Evaluation Mode."}]
[null,{"$f":"'Terms and Conditions'!B6","v":"Inputs for Current Performance values (gray cells) are limited to Example Business data."}]
[null,{"$f":"'Terms and Conditions'!B7","v":"Payment is required to Register this software and enable all inputs."}]
[null,{"$f":"'Terms and Conditions'!B12","v":"For Software Support and additional Business Support Software visit:"}]
[null,{"$f":"'Terms and Conditions'!B13","v":"www.bizpeponline.com"}]
[]
[null,{"$f":"'Terms and Conditions'!B15","v":"Order Now for immediate online delivery and receive a 30 day money back guarantee for just: "}]
[null,{"$f":"'Terms and Conditions'!B16","v":"US$69.00"}]
[null,{"$f":"'Terms and Conditions'!B17","v":"Single User Non-Commercial License - Multi-user licenses attract a 30% discount."}]
[null,{"$f":"'Terms and Conditions'!B18","v":"Secure online payment is available at:"}]
[null,{"$f":"'Terms and Conditions'!B19","v":"http://www.bizpeponline.com/BusinessValuationReg.html"}]
[]
[null,{"$f":"'Terms and Conditions'!B20","v":"As soon as your transaction is completed you will receive Registration Details by return email."}]
[]
[]
[null,{"$f":"'Terms and Conditions'!B22","v":"This will register your software and enable all inputs."}]
[]
[null,{"$f":"'Terms and Conditions'!$B$23","v":"Software which is not correctly licensed exposes individuals and business to serious risk."}]
[null,"by proceeding you acknowledge acceptance of our Terms and Conditions."]
[]
[null,{"$f":"'Terms and Conditions'!$B26","v":"You can also try our web based Business Valuation Analysis Module at:"}]
[null,"http://www.businessperformanceanalysis.com/"]
[null,{"$f":"'Terms and Conditions'!$B28","v":"It comes with a free trial period and runs in your browser with no download required."}]
[]
[null,{"$f":"'Terms and Conditions'!B10","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."}]

{"sheet":"Input","index":2,"n_rows":87,"n_cols":6,"rows_kept":87,"cut":false,"hidden":false,"merged":[[14,4,14,5],[8,3,8,5],[11,1,11,5],[10,2,10,4],[12,3,12,5],[8,1,8,2],[1,3,1,5],[2,3,2,5],[4,1,4,5],[5,1,5,5],[6,1,6,5],[50,1,50,2],[50,3,50,5],[29,4,29,5],[20,4,20,5],[21,4,21,5],[35,1,35,2],[30,4,30,5],[22,4,22,5],[24,4,24,5],[25,4,25,5],[15,4,15,5],[27,4,27,5],[28,4,28,5],[47,3,47,5],[31,4,31,5],[32,4,32,5],[35,3,35,5],[26,4,26,5],[18,4,18,5],[19,4,19,5],[23,4,23,5],[16,4,16,5],[17,4,17,5],[59,4,59,5],[52,3,52,5],[53,3,53,5],[54,3,54,5],[55,3,55,5],[56,3,56,5],[57,3,57,5],[58,3,58,5],[63,3,63,5],[80,1,80,5],[81,1,81,5],[82,1,82,5],[60,3,60,5],[62,1,62,5],[75,1,75,5],[64,1,64,5],[83,1,83,5],[76,1,76,5],[77,1,77,5],[78,1,78,5],[79,1,79,5]]}
[]
[]
[]
[]
[null,{"$f":" \"Input - \" & 'Terms and Conditions'!B3","v":"Input - Business Valuation Model Excel 50"}]
[null,"Blue cells allow input. View comments by positioning your mouse over the red marker cell or click the hyperlink for the"]
[null,"Instruction Sheet"]
[]
[null,"Current Operating Performance Data",null,"This section reviews current business performance for a full year."]
[]
[null,"Business Name or Identifier","Example Business",null,null,"This appears on the Output Sheets."]
[]
[null,"Business Revenue",500000,"Annual business revenue for the current year."]
[]
[null,"Expenses","Monetary",{"$f":"+IF(C15=B86,B87,B86)","v":"Percent"},"Set the Expense Input as Monetary or Percent."]
[null,"Variable Costs",null,null,"Annual costs that vary with the level of revenue."]
[null,"Materials & Supplies",10000,{"$f":"+IF(D$15=B$87,C17/C$13*100,C17/100*C$13)","v":2},"Cost of items used in the product/service or resold."]
[null,"Labor excluding Owner",200000,40,"Cost of labor including all benefits and add-ons."]
[null,"Labor Owner",50000,10,"Cost of an employee who could replace the owner."]
[null,"Distribution",20000,4,"Cost to get the product/service to the consumer."]
[null,"Marketing",10000,2,"Cost of marketing and promotion."]
[null,"Other",20000,4,"Any other costs incurred in the product/service."]
[null,"Total Variable Costs",{"$f":"SUM(C17:C22)","v":310000},62,"Total Variable Costs and their % of Revenue"]
[null,"Fixed Costs",null,null,"Annual costs that do not vary with revenue."]
[null,"Location",40000,{"$f":"+IF(D$15=B$87,C25/C$13*100,C25/100*C$13)","v":8},"Cost of rent, utilities etc. Exclude ownership costs."]
[null,"Administration",30000,6,"Cost of administration supplies and requirements."]
[null,"Labor excluding Owner",50000,10,"Cost of labor including all benefits and add-ons."]
[null,"Labor Owner",10000,2,"Cost of an employee who could replace the owner."]
[null,"Interest Costs",0,0,"Interest component of loans, Set to 0 for valuation. "]
[null,"Other",0,0,"Any other overhead costs not already included."]
[null,"Total Fixed Costs",{"$f":"SUM(C25:C30)","v":130000},26,"Total Fixed Costs and their % of Revenue."]
[null,"Operating Surplus",{"$f":"+IF(C$15=B$87,100-C23-C31,C13-C23-C31)","v":60000},12,"Operating surplus before taxation. "]
[null,"Owner Cash Flow",{"$f":"+C32+C28+C19","v":120000},24,"Operating surplus to owner including wages. "]
[]
[]
[null,"Forecast Data",null,"Input Relative Indicators to build a 3 Year Forecast."]
[]
[null,"Relative Indicator","Year 1","Year 2","Year 3","Indicators are Relative to the prior year."]
[null,"Level of Competition",1.03,1,0.97,">100=Inc, <100=Dec Competition."]
[null,"Market Strength",1.05,1,1,">100=Inc, <100=Dec Market Strength."]
[null,"Materials & Supplies Costs",1.05,1.05,1,">100=Inc, <100=Dec base Costs."]
[null,"Labor Costs",1,1.03,1.05,">100=Inc, <100=Dec base Costs."]
[null,"Interest Rates",1,1.05,0.95,">100=Inc, <100=Dec base Interest."]
[null,"Business Market Position",1.1000000000000001,1.05,1.03,">100=Inc, <100=Dec Business Position."]
[null,"Variable Costs Efficiency",1.03,1.05,1,">100=Inc, <100=Dec Variable Efficiency."]
[null,"Fixed Costs Efficiency",1,1.02,1.05,">100=Inc, <100=Dec Fixed Efficiency. "]
[]
[null,"Fixed Costs Flow-on",0.25,"The % increase in Fixed Costs for each 100% increase in revenue."]
[]
[]
[null,"Valuation Data"]
[]
[null,"Owners Time Commitment to Business",1,"Input the percentage of work hours applied to the business."]
[null,"Owners External Earning Power",60000,"How much could the owner earn if working outside the business?"]
[null,"Replacement Value of Business Assets",100000,"What is the value of business assets excluding property."]
[null,"Life of Assets (years)",8,"What is the average life of the assets?"]
[null,"Market Value of Property",0,"How much could you sell the business real estate for?"]
[null,"Other Investment in Business",190022.58309106977,"Operating capital, goodwill, etc. This is adjusted by Valuation. "]
[null,"Total Investment",{"$f":"+C55+C57+C58","v":290022.58309106977},"This is the current investment in the business."]
[null,"Financed Amount",0,{"$f":"+IF(C$15=B$87,D$29/C$60,C$29/C$60)","v":{"$error":"#DIV/0!"}},"Input amount financed, interest rate is calculated."]
[null,"Equity Investment",{"$f":"+C59-C60","v":290022.58309106977},"This is the amount of equity in the business."]
[]
[null,"Output - Business Valuation Model"]
[null,"Current Expected Valuation is",{"$f":"'Valuation Analysis'!G31","v":290022.58309106977},"refer to Valuation Analysis for details."]
[null,"Summary outputs are included on the Sensitivity and Valuation Analysis Sheets. Details are in tabular form on the Results Sheets and graphical form on the Chart Sheets. To view comments position your mouse over the red marker cell or click the hyperlink to access the Instruction Sheet. To display Sheets click the associated button or tab."]
[null,"Output Sheets"]
[null,"Sensitivity Analysis"]
[null,"Valuation Analysis"]
[null,"Expected Results"]
[null,"Optimistic Results"]
[null,"Pessimistic Results"]
[null,"Forecast Revenue Chart"]
[null,"Forecast Return Chart"]
[null,"Operating Surplus Chart"]
[null,"Surplus & Return Chart"]
[null,{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Monetary"]
[null,"Percent"]

{"sheet":"Sensitivity Analysis","index":3,"n_rows":29,"n_cols":7,"rows_kept":29,"cut":false,"hidden":false,"merged":[[33,1,33,6],[34,1,34,6],[35,1,35,6],[36,1,36,6],[29,1,29,6],[30,1,30,6],[31,1,31,6],[32,1,32,6],[1,2,1,6],[2,2,2,6],[4,1,4,6],[5,1,5,6],[28,1,28,6],[25,1,25,6],[6,5,7,6],[6,1,6,3],[7,1,7,3]]}
[]
[]
[]
[]
[null,{"$f":" \"Sensitivity Analysis - \" & 'Terms and Conditions'!B3","v":"Sensitivity Analysis - Business Valuation Model Excel 50"}]
[null,"To test the sensitivity of your forecast input adjustment percentages in the blue cells. Green cells provide Optimistic results, yellow cells Expected, and tan cells Pessimistic. An Output Summary is provided at the bottom of this sheet."]
[null,"Optimistic, improve the variation of all Relative Indicators by",null,null,0.2,"Go to Valuation"]
[null,"Pessimistic, degrade the variation of all Relative Indicators by",null,null,0.2]
[null,null,"Current Year","Year 1","Year 2","Year 3","3 Year Average"]
[null,{"$f":"+Worksheet!B5","v":"Business Revenue"}]
[null,"Optimistic",{"$f":"+Worksheet!K5","v":500000},{"$f":"+Worksheet!L5","v":579687.5},{"$f":"+Worksheet!M5","v":614468.75},{"$f":"+Worksheet!N5","v":660362.68153526972},{"$f":"+Worksheet!O5","v":618172.9771784232}]
[null,"Expected",{"$f":"+Worksheet!C5","v":500000},{"$f":"+Worksheet!D5","v":560679.61165048543},{"$f":"+Worksheet!E5","v":588713.59223300975},{"$f":"+Worksheet!F5","v":625128.8659793816},{"$f":"+Worksheet!G5","v":591507.35662095889}]
[null,"Pessimistic",{"$f":"+Worksheet!R5","v":500000},{"$f":"+Worksheet!S5","v":542084.94208494201},{"$f":"+Worksheet!T5","v":563768.33976833976},{"$f":"+Worksheet!U5","v":591494.65156022529},{"$f":"+Worksheet!V5","v":565782.6444711691}]
[null,{"$f":"+Worksheet!B43","v":"Operating Surplus"}]
[null,"Optimistic",{"$f":"+Worksheet!K43","v":60000},{"$f":"+Worksheet!L43","v":97031.038851351303},{"$f":"+Worksheet!M43","v":122621.1434194204},{"$f":"+Worksheet!N43","v":129747.972125498},{"$f":"+Worksheet!O43","v":116466.7181320899}]
[null,"Expected",{"$f":"+Worksheet!C43","v":60000},{"$f":"+Worksheet!D43","v":88694.622490338515},{"$f":"+Worksheet!E43","v":106169.59067772643},{"$f":"+Worksheet!F43","v":105371.87455054082},{"$f":"+Worksheet!G43","v":100078.69590620192}]
[null,"Pessimistic",{"$f":"+Worksheet!R43","v":60000},{"$f":"+Worksheet!S43","v":80604.54874517367},{"$f":"+Worksheet!T43","v":90428.211639824556},{"$f":"+Worksheet!U43","v":82385.728313678061},{"$f":"+Worksheet!V43","v":84472.829566225424}]
[null,{"$f":"+Worksheet!B46","v":"Owner Cash Flow"}]
[null,"Optimistic",{"$f":"+Worksheet!K46","v":120000},{"$f":"+Worksheet!L46","v":157031.0388513513},{"$f":"+Worksheet!M46","v":184421.1434194204},{"$f":"+Worksheet!N46","v":194637.972125498},{"$f":"+Worksheet!O46","v":178696.71813208991}]
[null,"Expected",{"$f":"+Worksheet!C46","v":120000},{"$f":"+Worksheet!D46","v":148694.62249033854},{"$f":"+Worksheet!E46","v":167969.59067772643},{"$f":"+Worksheet!F46","v":170261.87455054082},{"$f":"+Worksheet!G46","v":162308.69590620193}]
[null,"Pessimistic",{"$f":"+Worksheet!R46","v":120000},{"$f":"+Worksheet!S46","v":140604.54874517367},{"$f":"+Worksheet!T46","v":152228.21163982456},{"$f":"+Worksheet!U46","v":147275.72831367806},{"$f":"+Worksheet!V46","v":146702.82956622544}]
[null,{"$f":"+Worksheet!B97","v":"Business Return"}]
[null,"Optimistic",{"$f":"+Worksheet!K97","v":47500},{"$f":"+Worksheet!L97","v":84032.991976351303},{"$f":"+Worksheet!M97","v":109765.7137319204},{"$f":"+Worksheet!N97","v":117238.10536590256},{"$f":"+Worksheet!O97","v":103678.93702472474}]
[null,"Expected",{"$f":"+Worksheet!C97","v":47500},{"$f":"+Worksheet!D97","v":75815.374917523004},{"$f":"+Worksheet!E97","v":93115.130726270116},{"$f":"+Worksheet!F97","v":92089.819138169667},{"$f":"+Worksheet!G97","v":87006.774927320934}]
[null,"Pessimistic",{"$f":"+Worksheet!R97","v":47500},{"$f":"+Worksheet!S97","v":67841.517857142782},{"$f":"+Worksheet!T97","v":77169.659516272426},{"$f":"+Worksheet!U97","v":68314.286741426651},{"$f":"+Worksheet!V97","v":71108.488038280615}]
[null,"Summary"]
[null,"The 3 Year Average Expected Business Return is",{"$f":"+G24","v":87006.774927320934},"per year."]
[null,"Sensitivity Analysis indicates a Return high of",{"$f":"+G23","v":103678.93702472474},"to a low of",{"$f":"+G25","v":71108.488038280615},"per year."]
[null,{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."}]

{"sheet":"Valuation Analysis","index":4,"n_rows":33,"n_cols":7,"rows_kept":33,"cut":false,"hidden":false,"merged":[[37,1,37,6],[38,1,38,6],[39,1,39,6],[40,1,40,6],[33,1,33,6],[34,1,34,6],[35,1,35,6],[36,1,36,6],[30,3,30,5],[11,2,11,5],[27,1,27,6],[32,1,32,6],[13,1,13,2],[13,4,13,6],[26,3,26,6],[23,3,23,6],[24,5,25,5],[24,3,25,4],[8,4,8,5],[8,2,8,3],[1,2,1,6],[2,2,2,6],[4,1,4,6],[5,1,5,6]]}
[]
[]
[]
[]
[null,{"$f":" \"Valuation Analysis - \" & 'Terms and Conditions'!B3","v":"Valuation Analysis - Business Valuation Model Excel 50"}]
[null,"Input your desired Return on Investment to generate a Valuation. To Update the Return calculations input your Valuation and click the Update Button. All input is in the blue cells. Green cells provide Optimistic results, yellow cells Expected, and tan cells Pessimistic. An Output Summary is provided at the bottom of this sheet."]
[]
[null,"Finance is currently set at","Interest",{"$f":"IF(Input!C15=Input!B86,Input!C29,Input!D29)","v":0},"Amount",{"$f":"+Input!C60","v":0}]
[null,"(Set Interest & Amount to 0 for initial Valuation)","Adjust Interest Cost",null,"Adjust Finance Amount"]
[]
[null,"Sensitivity is currently set at","Optimistic",{"$f":"+'Sensitivity Analysis'!E7","v":0.2},"Pessimistic",{"$f":"+'Sensitivity Analysis'!E8","v":0.2}]
[null,null,"Adjust Sensitivity"]
[]
[null,"Total Investment is currently set at",null,{"$f":"+Input!$C59","v":290022.58309106977},"This is used for Return Calculations."]
[]
[null,"Business Return","Current Year","Year 1","Year 2","Year 3","3 Year Average"]
[null,"Optimistic",{"$f":"+Worksheet!K97","v":47500},{"$f":"+Worksheet!L97","v":84032.991976351303},{"$f":"+Worksheet!M97","v":109765.7137319204},{"$f":"+Worksheet!N97","v":117238.10536590256},{"$f":"+Worksheet!O97","v":103678.93702472474}]
[null,"% Return on Total Investment",{"$f":"+Worksheet!K99","v":0.16378034942570166},{"$f":"+Worksheet!L99","v":0.28974637450892632},{"$f":"+Worksheet!M99","v":0.37847298842053606},{"$f":"+Worksheet!N99","v":0.40423784974388949},{"$f":"+Worksheet!O99","v":0.3574857375577839}]
[null,"Expected",{"$f":"+Worksheet!C97","v":47500},{"$f":"+Worksheet!D97","v":75815.374917523004},{"$f":"+Worksheet!E97","v":93115.130726270116},{"$f":"+Worksheet!F97","v":92089.819138169667},{"$f":"+Worksheet!G97","v":87006.774927320934}]
[null,{"$f":"+B18","v":"% Return on Total Investment"},{"$f":"+Worksheet!C99","v":0.16378034942570166},{"$f":"+Worksheet!D99","v":0.26141197043857883},{"$f":"+Worksheet!E99","v":0.32106165572986123},{"$f":"+Worksheet!F99","v":0.3175263738315599},{"$f":"+Worksheet!G99","v":0.3}]
[null,"Pessimistic",{"$f":"+Worksheet!R97","v":47500},{"$f":"+Worksheet!S97","v":67841.517857142782},{"$f":"+Worksheet!T97","v":77169.659516272426},{"$f":"+Worksheet!U97","v":68314.286741426651},{"$f":"+Worksheet!V97","v":71108.488038280615}]
[null,{"$f":"+B18","v":"% Return on Total Investment"},{"$f":"+Worksheet!R99","v":0.16378034942570166},{"$f":"+Worksheet!S99","v":0.23391805263605944},{"$f":"+Worksheet!T99","v":0.26608155369763203},{"$f":"+Worksheet!U99","v":0.23554816322691441},{"$f":"+Worksheet!V99","v":0.24518258985353528}]
[]
[null,"For an average 3 Year Return on Investment of",0.3,"Input your required Return on Investment."]
[null,"Expected Return results in a Valuation of",{"$f":"+G19/C$24","v":290022.58309106977},null,null,{"$f":"+C25","v":290022.58309106977},{"$f":"+F25-Input!C$55-Input!C$57","v":190022.58309106977}]
[null,"Optimistic Return results in a Valuation of",{"$f":"+G17/C$24","v":345596.45674908248}]
[null,"Pessimistic Return results in a Valuation of",{"$f":"+G21/C$24","v":237028.29346093538},"Input your Valuation and click Update Button"]
[null,"Summary"]
[null,"The Average Expected Return from the business is ",{"$f":"+G19","v":87006.774927320934},"per year."]
[null,"Sensitivity Analysis indicates a Return high of",{"$f":"+G17","v":103678.93702472474},"to a low of",{"$f":"+G21","v":71108.488038280615},"per year."]
[null,"An average 3 Year Return on Investment of",{"$f":"+C24","v":0.3},"gives an Expected Valuation of",null,null,{"$f":"+C25","v":290022.58309106977}]
[null,"Sensitivity Analysis indicates a Valuation high of",{"$f":"+C26","v":345596.45674908248},"to a low of",{"$f":"+C27","v":237028.29346093538},"."]
[null,{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."}]

{"sheet":"Expected Results","index":5,"n_rows":56,"n_cols":7,"rows_kept":56,"cut":false,"hidden":false,"merged":[[63,1,63,6],[58,1,58,6],[59,1,59,6],[60,1,60,6],[61,1,61,6],[1,1,1,6],[55,1,55,6],[56,1,56,6],[57,1,57,6],[62,1,62,6]]}
[]
[null,{"$f":" \"Expected Results - \" & 'Terms and Conditions'!B3","v":"Expected Results - Business Valuation Model Excel 50"}]
[null,{"$f":"Worksheet!B2","v":"Expected Forecast"}]
[null,{"$f":"Worksheet!B3","v":"Example Business"}]
[null,null,"Current Year","Year 1","Year 2","Year 3","3 Year Average"]
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[null,{"$f":"Worksheet!B6","v":"Expenses"}]
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[null,{"$f":"Worksheet!Q94","v":"LESS"}]
[null,{"$f":"Worksheet!Q95","v":"Depreciation Allowance"},{"$f":"Worksheet!R95","v":12500},{"$f":"Worksheet!S95","v":12763.030888030888},{"$f":"Worksheet!T95","v":12898.552123552123},{"$f":"Worksheet!U95","v":13071.841572251407},{"$f":"Worksheet!V95","v":12911.141527944807}]
[null,{"$f":"Worksheet!Q96","v":"Owners External Earning Power"},{"$f":"Worksheet!R96","v":60000},{"$f":"Worksheet!S96","v":60000},{"$f":"Worksheet!T96","v":62160},{"$f":"Worksheet!U96","v":65889.600000000006},{"$f":"Worksheet!V96","v":62683.200000000004}]
[null,{"$f":"Worksheet!Q97","v":"Business Return"},{"$f":"Worksheet!R97","v":47500},{"$f":"Worksheet!S97","v":67841.517857142782},{"$f":"Worksheet!T97","v":77169.659516272426},{"$f":"Worksheet!U97","v":68314.286741426651},{"$f":"Worksheet!V97","v":71108.488038280615}]
[null,{"$f":"Worksheet!Q98","v":"Return on Sales"},{"$f":"Worksheet!R98","v":9.5000000000000001E-2},{"$f":"Worksheet!S98","v":0.12514923878205117},{"$f":"Worksheet!T98","v":0.13688186099273064},{"$f":"Worksheet!U98","v":0.11549434396613639},{"$f":"Worksheet!V98","v":0.12568163540036642}]
[null,{"$f":"+Worksheet!B80","v":"Total Investment"},{"$f":"+Worksheet!S80","v":290022.58309106977}]
[null,{"$f":"Worksheet!Q99","v":"Return on Total Investment"},{"$f":"Worksheet!R99","v":0.16378034942570166},{"$f":"Worksheet!S99","v":0.23391805263605944},{"$f":"Worksheet!T99","v":0.26608155369763203},{"$f":"Worksheet!U99","v":0.23554816322691441},{"$f":"Worksheet!V99","v":0.24518258985353528}]
[null,{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."},{"$f":"+Welcome!$B$31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."}]

{"sheet":"Instructions","index":12,"n_rows":81,"n_cols":4,"rows_kept":81,"cut":false,"hidden":false,"merged":[[85,1,85,3],[86,1,86,3],[87,1,87,3],[88,1,88,3],[81,1,81,3],[82,1,82,3],[83,1,83,3],[84,1,84,3],[1,1,1,3],[80,1,80,3],[7,1,7,3],[2,1,2,3],[69,1,69,3],[8,1,8,3],[70,1,70,3]]}
[]
[null,{"$f":" \"Instructions - \" & 'Terms and Conditions'!B3","v":"Instructions - Business Valuation Model Excel 50"}]
[null,"Overview"]
[null,"Outline",null,"The Business Valuation Model is designed to provide an economical, efficient and effective means to assess the value of a business.  The forecast input should be based on your subjective views.  These  are translated into quantifiable values for model operation.  There is no need to provide \"perfect\" answers.  Use your industry knowledge to make informed estimates.  The goal is to provide a streamline tool to indicate possible outcomes.  A recent business taxation return will assist in determining values for the Performance section. The Business Valuation Model combines Relative Indicators for future performance with basic financial data (Revenue, Variable Costs, and Fixed Costs) to value the business. This valuation method can be used for business purchase, sale, or establishment. It is compact, easy to use, and requires minimal inputs. Outputs include a 3 Year Forecast, Sensitivity Analysis, Investment Return, and calculated Business Valuation in tabular and graphical form."]
[]
[null,"Contact Details",null,"For questions, suggestions, support or additional business software please visit:"]
[null,null,null,"http://www.bizpeponline.com/"]
[null,"Input"]
[null,"All input is on the Input & Analysis Sheets. Click the tab or hyperlinks to access. Blue cells allow input."]
[null,{"$f":"+Input!B9","v":"Current Operating Performance Data"},null,"This section reviews the current performance of your business for a full year period. It is designed to assess the level of expenses that vary with your sales (Variable Costs) and those that don't (Fixed Costs).  It also allocates a realistic labor cost for the owners effort.  The focus is on cash flow excluding assets and  taxation.  Broad expense categories are provided.  Labels in blue cells can be adjusted however they should reflect the original label type to ensure formula are applied correctly. Values can be based on the previous years tax return adjusted for current trading.  Inputs do not have to be perfect but should reasonably reflect business operation."]
[null,{"$f":"+Input!B11","v":"Business Name or Identifier"},null,"Input a name for the business. This appears as an identifier on the Output Sheets."]
[null,{"$f":"+Input!B13","v":"Business Revenue"},null,"Input the Revenue generated by the business for the current year."]
[null,"Expenses",null,"Select your Expense input as Monetary or Percent. This allows you to input your Expenses directly in Monetary (Dollars, Pounds etc) or Percentage terms."]
[null,{"$f":"+Input!B16","v":"Variable Costs"},null,"Variable Costs vary with the volume of product or service you provide.  Only include these costs in this section and allocate them into one of the six categories."]
[null,{"$f":"+Input!B17","v":"Materials & Supplies"},null,"Input the annual variable expense for materials and supplies directly related to producing your product or providing your service."]
[null,{"$f":"+Input!B18","v":"Labor excluding Owner"},null,"Input the annual variable expense for labor (excluding the owner) directly related to producing your product or providing your service.  Labor expenses should include all associated on-costs and benefits."]
[null,{"$f":"+Input!B19","v":"Labor Owner"},null,"Input the annual value of labor provided by the owner that is directly related to producing your product or providing your service.  This variable expense should reflect the effective labor effort and can be estimated as the cost of an employee who could replace the owner.  Labor expenses should include all associated on-costs and benefits."]
[null,{"$f":"+Input!B20","v":"Distribution"},null,"Input the annual variable expense for distribution of your product or service.  This may include freight costs, packaging, and vehicle running costs."]
[null,{"$f":"+Input!B21","v":"Marketing"},null,"Input the annual variable expense for marketing.  Include advertising, promotional publications, sponsorships, client functions, and any marketing or sales expense. Marketing is not essentially a variable expense, however it is assumed that marketing does influence the level of sales and a relationship exists between the level of marketing and the level of sales.  It is on this basis that it forms a component of Variable Costs."]
[null,{"$f":"+Input!B22","v":"Other"},null,"Input any annual variable expenses not already accounted for."]
[null,{"$f":"+Input!B23","v":"Total Variable Costs"},null,"This is the sum of the variable expenses. It is expressed as a monetary value and as a percentage of revenue."]
[null,{"$f":"+Input!B24","v":"Fixed Costs"},null,"Fixed Costs are expenses which remain constant (up to a point) while the volume of sales vary.  Only include these costs in this section and allocate them into one of the six categories."]
[null,{"$f":"+Input!B25","v":"Location"},null,"Input the annual fixed location expense.  Include rent, power and light, maintenance, building insurance, security, and cleaning.  If you own the property do not include purchase or finance costs."]
[null,{"$f":"+Input!B26","v":"Administration"},null,"Input the annual fixed administration expense.   Include office phone, equipment costs, and stationary."]
[null,{"$f":"+Input!B27","v":"Labor excluding Owner"},null,"Input the annual fixed labor expense (excluding owner).  This should include any labor expense not already accounted for in variable costs.  Labor expenses should include all associated on-costs and benefits."]
[null,{"$f":"+Input!B28","v":"Labor Owner"},null,"Input the annual value of fixed cost labor provided by the owner.  This should include the value of any labor which has not already been accounted for in variable costs.  This fixed expense should reflect the effective labor effort and can be estimated as the cost of an employee who could replace the owner.  Labor expenses should include all associated on-costs and benefits."]
[null,{"$f":"+Input!B29","v":"Interest Costs"},null,"Input the annual fixed Interest Cost.  Include only the interest component of loan repayments.  Principle components reflect assets. It is recommended that the business initially be valued with no Finance or Interest component i.e. 100% equity. This ensures the valuation provides the required return on the Total Investment. Once you have established valuation details you can then insert Finance details to determine the impact on the business."]
[null,{"$f":"+Input!B30","v":"Other"},null,"Input any annual fixed expenses not already accounted for."]
[null,{"$f":"+Input!B31","v":"Total Fixed Costs"},null,"This is the sum of the fixed expenses. It is expressed as a monetary value and as a percentage of revenue."]
[null,{"$f":"+Input!B32","v":"Operating Surplus"},null,"Operating Surplus reflects the before tax operating profit/loss of the business for the full years trading. It is calculated as the Revenue less Total Variable Costs less Total Fixed Costs. It excludes asset investment. Assets include property, equipment, and capital reinvestment in the business.  These investment components are considered in the Investment section. The Operating Surplus represents the day to day (short term) business performance."]
[null,{"$f":"+Input!B33","v":"Owner Cash Flow"},null,"Owner Cash Flow is the Operating Surplus plus the value of any Labor provided by the Owner. If the owner provides no labor for the business Owner Cash flow and Operating Surplus will be equal."]
[null,{"$f":"+Input!B36","v":"Forecast Data"},null,"This section considers factors that influence future business performance.  A relative indicator is used to reflect unit changes in these factors.   The base year relative indicator for each factor is defined as 100%.  Relative indicators for each of the next three years are applied to reflect likely changes in the unit cost or strength of the factor.  Each indicator is relative to the prior year.  A 10% increase from the previous year is reflected by a relative indicator of 110%.  A 10% decrease from the previous year is reflected by a relative indicator of 90%.  Relative indicators for costs reflect changes in the base unit of the expense such as labor costs per hour or material costs per unit."]
[null,{"$f":"+Input!B38","v":"Relative Indicator"},null,"Relative Indicators are required for each factor for Years 1 to 3. If there is no change from the previous year the Relative Indicator is 100%. You have provided Revenue and Costs details for the current Year.  Year 1 is the year following the Current Year, Year 2 follows Year 1, and Year 3 follows Year 2."]
[null,{"$f":"+Input!B39","v":"Level of Competition"},null,"Input the percentage relative indicator to reflect the level of change from the previous year.  Consider the number of competitors, competitor strategies, potential new entrants.  This indicator has an inverse relationship to forecast Business Revenue.  All things being equal as the level of competition increases Business Revenue decreases."]
[null,{"$f":"+Input!B40","v":"Market Strength"},null,"Input the percentage relative indicator to reflect the level of change from the previous year.  Consider market growth, technology & regulatory impacts and customer needs.  Market strength is an indicator of the demand for the type of product or service you provide. This indicator has a direct relationship to forecast Business Revenue.  All things being equal as market strength increases Business Revenue increases."]
[null,{"$f":"+Input!B41","v":"Materials & Supplies Costs"},null,"Input the percentage relative indicator to reflect the level of change from the previous year.  Consider the potential changes in supplier pricing, sources of supply, your bargaining power, demand for materials, and possible alternative materials.  This indicator has a direct relationship to forecast Materials & Supplies expenses.  All things being equal as the unit cost of materials and supplies increases this Variable Cost expense increases."]
[null,{"$f":"+Input!B42","v":"Labor Costs"},null,"Input the percentage relative indicator to reflect the level of change from the previous year.  Consider market forces and availability of skilled staff.  This indicator has a direct relationship to forecast Variable and Fixed Cost Labor excluding Owner, and Labor Owner expenses.  All things being equal as the unit labor costs increase these labor expenses increase. It is also used to determine future Owners External Earning Power."]
[null,{"$f":"+Input!B43","v":"Interest Rates"},null,"Input the percentage relative indicator to reflect the level of change from the previous year.  This is percentage change not actual values.  For a current interest rate of 6% a relative indicator of 110% in Year 1 equates to 6.6%, a relative indicator of 110% in Year 2 takes this to 7.26%.  This indicator has a direct relationship to forecast Interest expenses.  All things being equal as interest rates increase this Variable Cost expense increases."]
[null,{"$f":"+Input!B44","v":"Business Market Position"},null,"Input the percentage relative indicator to reflect the level of change from the previous year.  Consider your position in the market, and the impact of your current actions. This is a measure of your standing relative to the competition as perceived by potential consumers. If things will remain much the same input 100%, indicating no change over the previous year.  If you have actions to improve the position of your business by 10% then the input would be 110%. This indicator has a direct relationship to forecast Business Revenue. All thing being equal as market position increases Business Revenue increases.  Actions contributing to the business position must be substantiated and implemented to have an impact."]
[null,{"$f":"+Input!B45","v":"Variable Costs Efficiency"},null,"Input the percentage relative indicator to reflect the level of change from the previous year.  This should reflect changes in the relationship between your Variable Costs and revenue.   If you have actions to improve your Variable Costs efficiency (decrease variable costs) by 10% over the previous year input 110%.  Consider changes in processes, distribution or the materials used.  This indicator has an inverse relationship to forecast Variable Costs Materials & Supplies, Labor excluding Owner, Labor Owner, Distribution, Marketing and Other expenses. All things being equal as Variable Costs Efficiency increases less materials, labor, distribution and marketing resources are required resulting in a decrease in these expenses.   Actions must be substantiated and implemented to have an impact."]
[null,{"$f":"+Input!B46","v":"Fixed Costs Efficiency"},null,"Input the percentage relative indicator to reflect the level of change from the previous year.  Consider changes in administration processes and Fixed Cost labor requirements.  This indicator has an inverse relationship to forecast Fixed Costs Administration, Labor excluding Owner, Labor Owner, and Other expenses.   All things being equal as Fixed Costs efficiency increases less administration and labor resources are required resulting in a decrease in these expenses.  It does not apply to Location and Finance expenses.   Actions contributing to the business position must be substantiated and implemented to have an impact.  You can use the Decision Assistant Model to value your actions and determine their business impact, this is available from the bizpeponline.com web site."]
[null,{"$f":"+Input!B48","v":"Fixed Costs Flow-on"},null,"Input the percentage Fixed Costs Flow-on.  This indicates the estimated level of fixed costs adjustment to support revenue variations.  Fixed Costs are generally considered a constant expense, however large sustained revenue variations place pressure on fixed costs and usually result in an increased fixed cost expense.  This may include larger floor area, more administration costs, or higher financing.  The Fixed Costs Flow-on percentage is the amount of increase in Fixed Costs expense for a 100% increase in revenue.  An fixed costs flow-on of 20% reflects a 20% increase in Fixed Costs expense for every 100% increase in revenue.  This indicator has a direct relationship to all forecast Fixed Cost expenses."]
[null,{"$f":"+Input!B51","v":"Valuation Data"},null,"This section provides data to value the business. Consideration is given to the owners earning power outside the business, the replacement value of business assets and their useful life. Property (Real Estate) valuations are considered constant throughout the period. Annual replacement costs for other business assets are calculated as the Replacement Value  divided by the Asset Life. This provides for constant reinvestment to maintain the business. This data is combined with the business forecast to determine a business valuation."]
[null,{"$f":"+Input!B53","v":"Owners Time Commitment to Business"},null,"Input the percentage of work time the owner commits to the business.  This is used to determine the owners return for effort and indicates the available amount of owner resource.  Available resource will be applied to any forecast labor increase in Fixed, then Variable Costs where the owner currently contributes."]
[null,{"$f":"+Input!B54","v":"Owners External Earning Power"},null,"Input the annual income the owner could earn if employed outside the business.  Include any benefits.  The actual return from the business must compensate the owner for giving up External Earnings and provide the required return on Investment. A return on Investment only occurs after the owner has been compensated for External Earnings given up."]
[null,{"$f":"+Input!B55","v":"Replacement Value of Business Assets"},null,"Input the replacement value of physical business assets.  Exclude property.  Consider vehicles, plant and equipment.  This forms a component of the total business investment."]
[null,{"$f":"+Input!B56","v":"Life of Assets (years)"},null,"Input the average life of the assets.  The Replacement Value of Business Assets will be divided by the Life of Assets to provide an indication of annual asset depreciation expense.  This will be used in determining the owners return from the business."]
[null,{"$f":"+Input!B57","v":"Market Value of Property"},null,"Input the estimated market value of property owned by the business.  Property values are considered stable over the forecast period and no depreciation is allowed for.  This forms a component of the total business investment."]
[null,{"$f":"+Input!B58","v":"Other Investment in Business"},null,"Input the value of any other investment made in the business.  Consider operating capital and goodwill paid.  This forms a component of the total business investment. This amount will be adjusted in-line with your Valuation Analysis."]
[null,{"$f":"+Input!B59","v":"Total Investment"},null,"This indicates the Total Investment in the business. It is the sum of Replacement Value of Business Assets, Market Value of Property, and Other Investment in Business."]
[null,{"$f":"+Input!B60","v":"Financed Amount"},null,"This is the amount of finance carried by the business. It is recommended that the business initially be valued with no Finance or Interest component i.e. 100% equity. This ensures the valuation provides the required return on the Total Investment. Once you have established a valuation you can then insert Finance details to determine the impact on the business. The calculated Interest Rate is based on the Financed Amount and the annual Interest Cost from the Performance Data. No principle reduction is considered during the forecast period, only interest expense, principle components reflect assets."]
[null,{"$f":"+Input!B61","v":"Equity Investment"},null,"This is the average annual Return on Total Investment over a three year period. "]
[null,{"$f":"+Input!B67","v":"Sensitivity Analysis"},null,"Sensitivity Analysis allows you to adjust your Relative Indicators by a set percentage to generate Optimistic and Pessimistic Forecasts."]
[null,"Optimistic Input",null,"Input the percentage improvement in Relative Indicators to generate an Optimistic Forecast. If you feel it is \"reasonably likely\" your Relative Indicators are 20% too low, input 20%."]
[null,"Pessimistic Input",null,"Input the percentage degrade in Relative Indicators to generate a Pessimistic Forecast. If you feel it is \"reasonably likely\" your Relative Indicators are 20% too high, input 20%."]
[null,{"$f":"+'Sensitivity Analysis'!B10","v":"Business Revenue"},null,"This is the forecast revenue generated by the business."]
[null,{"$f":"+'Sensitivity Analysis'!B11","v":"Optimistic"},null,"This is the forecast based on your Optimistic improvement to Relative Indicators."]
[null,{"$f":"+'Sensitivity Analysis'!B12","v":"Expected"},null,"This is the forecast based on the Relative Indicators you provided as input."]
[null,{"$f":"+'Sensitivity Analysis'!B13","v":"Pessimistic"},null,"This is the forecast based on your Pessimistic degradation of Relative Indicators."]
[null,{"$f":"+'Sensitivity Analysis'!B14","v":"Operating Surplus"},null,"This is the Revenue less Variable and Fixed Costs including payment to the owner for labor provided."]
[null,{"$f":"+'Sensitivity Analysis'!B18","v":"Owner Cash Flow"},null,"This is the Operating Surplus plus any labor Earnings of the Owner."]
[null,{"$f":"+'Sensitivity Analysis'!B22","v":"Business Return"},null,"Business Return is the Owners Cash Flow less a Depreciation Allowance and Owners External Earning Power. A Depreciation Allowance is required for the long term maintenance of the business. It is calculated as the Replacement Value of Business Assets divided by the Asset Lifetime. If the Depreciation Allowance is not reinvested business performance and value will decrease. The Owners External Earning Power reflects the income given up by the owner to work in the business. This must be recouped through the business before there is any return on investment generated."]
[null,{"$f":"+Input!B68","v":"Valuation Analysis"},null,"Simply input your desired Return on Investment to calculate your Business Valuation. If you have applied Sensitivity Analysis 3 valuations will be calculated; Optimistic, Expected, and Pessimistic."]
[null,{"$f":"+'Valuation Analysis'!B18","v":"% Return on Total Investment"},null,"This is the Business Return as a percentage of the Total Investment. It is an indicator of the quality of the business investment. The higher the Return on Investment the better the investment. However as the level of risk increases a higher Return on Investment is required to compensate for the risk taken. Business Return is the Owners Cash Flow less a Depreciation Allowance and Owners External Earning Power."]
[null,"Required Return on Investment",null,"This is the Business Return as a percentage of the Total Investment. It is an indicator of the quality of the business investment. The higher the Return on Investment the better the investment. However as the level of risk increases a higher Return on Investment is required to compensate for the risk taken. Business Return is the Owners Cash Flow less a Depreciation Allowance and Owners External Earning Power."]
[null,"Expected Valuation",null,"This Valuation is based on the Expected Forecast  and the required average 3 Year Return on Investment. It represents the Total Investment in the business and is an indication of Sale or Purchase price. Based on the Expected Forecast this is the maximum Investment that should be applied to this business to achieve the required Return on Investment."]
[null,"Optimistic Valuation",null,"This represents the Optimistic Valuation (high). It provides the required average 3 Year Return based on the Optimistic Forecast. However if the business does not provide a return inline with the Optimistic forecast the return on Investment will be less than required at this valuation."]
[null,"Pessimistic Valuation",null,"This represents the Pessimistic Valuation (low). It provides the required average 3 Year Return based on the Pessimistic Forecast. If the business provides a return greater than the Pessimistic forecast the return on Investment will exceed that required at this valuation."]
[null,"Update Valuation",null,"Input your  Valuation and click the Update Button to  generate new Return details. The Valuation will normally be the Expected Return Valuation."]
[null,"Output Sheets"]
[null,"Summary outputs are included on the Sensitivity and Valuation Analysis Sheets. Details are in tabular form on the Results Sheets and graphical form on the Chart Sheets. To display Sheets click the associated button or tab."]
[null,{"$f":"+Input!B67","v":"Sensitivity Analysis"},null,"Sensitivity Analysis allows you to adjust your Relative Indicators by a set percentage to generate Optimistic and Pessimistic Forecasts."]
[null,{"$f":"+Input!B68","v":"Valuation Analysis"},null,"Simply input your desired Return on Investment to calculate your Business Valuation. If you have applied Sensitivity Analysis 3 valuations will be calculated; Optimistic, Expected, and Pessimistic."]
[null,{"$f":"+Input!B69","v":"Expected Results"},null,"Full tabular results for your Expected Forecast and Return on Investment."]
[null,{"$f":"+Input!B70","v":"Optimistic Results"},null,"Full tabular results for your Optimistic Forecast and Return on Investment."]
[null,{"$f":"+Input!B71","v":"Pessimistic Results"},null,"Full tabular results for your Pessimistic Forecast and Return on Investment."]
[null,{"$f":"+Input!B72","v":"Forecast Revenue Chart"},null,"3 Year Forecast Revenue Chart; Optimistic, Expected and Pessimistic."]
[null,{"$f":"+Input!B73","v":"Forecast Return Chart"},null,"3 Year Forecast Return Chart; Optimistic, Expected and Pessimistic. Return is the Owners Cash Flow less the Depreciation Allowance and Owners External Earning Power."]
[null,{"$f":"+Input!B74","v":"Operating Surplus Chart"},null,"3 Year Expected Operating Surplus Chart including Variable and Fixed Costs."]
[null,{"$f":"+Input!B75","v":"Surplus & Return Chart"},null,"3 Year Expected Operating Surplus on Sales, Return on Sales, and Return on Total Investment percentages."]
[null,{"$f":"+Welcome!B31","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."}]

{"sheet":"Terms and Conditions","index":13,"n_rows":125,"n_cols":2,"rows_kept":125,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Terms and Conditions"]
[null,"Business Valuation Model Excel 50"]
[null,"Software licensed to"]
[null,"Not Licensed, Evaluation Mode."]
[null,"Inputs for Current Performance values (gray cells) are limited to Example Business data."]
[null,"Payment is required to Register this software and enable all inputs."]
[null,"by"]
[null,"Bizpep"]
[null,"Copyright © Bizpep 2010 - www.bizpeponline.com."]
[null,"Build 20100114"]
[null,"For Software Support and additional Business Support Software visit:"]
[null,"www.bizpeponline.com"]
[]
[null,"Order Now for immediate online delivery and receive a 30 day money back guarantee for just: "]
[null,"US$69.00"]
[null,"Single User Non-Commercial License - Multi-user licenses attract a 30% discount."]
[null,"Secure online payment is available at:"]
[null,"http://www.bizpeponline.com/BusinessValuationReg.html"]
[null,"As soon as your transaction is completed you will receive Registration Details by return email."]
[]
[null,"This will register your software and enable all inputs."]
[null,"Software which is not correctly licensed exposes individuals and business to serious risk."]
[]
[]
[null,"You can also try our web based Business Valuation Analysis Module at:"]
[null,"http://www.businessperformanceanalysis.com/"]
[null,"It comes with a free trial period and runs in your browser with no download required."]
[]
[null,"1. Outline"]
[]
[null,"The Business Valuation Model is designed to provide an economical, efficient and effective means to assess the value of a business.  The forecast input should be based on your subjective views.  These  are translated into quantifiable values for model operation.  There is no need to provide \"perfect\" answers.  Use your industry knowledge to make informed estimates.  The goal is to provide a streamline tool to indicate possible outcomes."]
[]
[null,"A recent business taxation return will assist in determining values for the Performance section. The Business Valuation Model combines Relative Indicators for future performance with basic financial data (Revenue, Variable Costs, and Fixed Costs) to value the business. This valuation method can be used for business purchase, sale, or establishment. It is compact, easy to use, and requires minimal inputs. Outputs include a 3 Year Forecast, Sensitivity Analysis, Investment Return, and calculated Business Valuation in tabular and graphical form."]
[]
[null,"2. Scope"]
[]
[null,"Conditions of use apply to all Bizpep services, software, and information presented. They cover all Bizpep principles, employees, distributors and other associated parties."]
[null,"Use acknowledges acceptance. Full copyright is maintained by Bizpep."]
[]
[null,"3. Evaluation"]
[]
[null,"Software is provide free for Evaluation. Example Business data is used for Current Performance input values (gray cells) in Evaluation Mode and cannot be changed in Evaluation Mode. Registering software removes restrictions on Current Performance input values (gray cells) allowing individual business data to be entered."]
[null,"For software registered with a Non-Commercial License all other features including cell and macro protection are the same as in evaluation software. All non-input cells and macros remain protected to ensure the integrity of the formula and programming. For software registered with a Commercial License an additional calculation sheet named Worksheet is displayed and all calculation sheets are protected without a password. This allows them to be unprotected to view the underlying formula and undertake minor refinements. All macros remain protected."]
[null,"4. Install / Uninstall"]
[]
[null,"This software is in Microsoft Excel format. To run this software you must have Excel installed on your computer and macros must be enabled."]
[null,"If software is downloaded as a Self-Extracting SetUp file (with a .exe extension) when you run the downloaded file it will extract and install the Excel program."]
[null,"If software is downloaded as a standard Compressed Zip file (with a .zip extension) it requires unzipping for use. Trial Zip software is available free from www.winzip.com."]
[null,"Once you have extracted the Excel file you can run the software from the program icons or by simply opening the Excel file."]
[]
[null,"No system files are changed when you use this software. To uninstall run the Uninstall program or simply delete all associated files."]
[]
[null,"5. Purchase"]
[]
[null,"To register software and enable all inputs requires payment:"]
[null,{"$f":"B16","v":"US$69.00"}]
[null,{"$f":"B17","v":"Single User Non-Commercial License - Multi-user licenses attract a 30% discount."}]
[]
[null,"Payment is online at:"]
[null,"http://www.bizpeponline.com/BusinessValuationReg.html"]
[]
[null,"Upon receipt of payment Bizpep will provide by return email registration details to maintain the software and enable all inputs. "]
[null,"Registering software removes restrictions on Current Performance input values (gray cells)."]
[null,"For software registered with a Non-Commercial License all other features including cell and macro protection are the same as in evaluation software. All non-input cells and macros remain protected to ensure the integrity of the formula and programming."]
[null,"For software registered with a Commercial License an additional calculation sheet named Worksheet is displayed and all calculation sheets are protected without a password. This allows them to be unprotected to view the underlying formula and undertake minor refinements. All macros remain protected."]
[]
[]
[]
[]
[null,"6. License"]
[]
[null,"Number of Licenses"]
[null,"The number of licenses you purchase is the maximum Number of Users and the maximum Number of Computer Systems the purchased software can be installed on or that can access the software if on a network."]
[null,"If you purchase a single user license (Quantity set to 1) the software must only be accessible from one computer and there must only be one user."]
[null,"To run the software on more than one computer, a network, or provide for additional users you must purchase a Multi-user license by setting the purchase quantity to the required number of user licenses. "]
[null,"Multi-user licenses attract a 30% discount."]
[]
[null,"Non-Commercial License"]
[null,"This license is for non-commercial private and internal business use only. It does not cover the commercial use of software for inter-business support, advice, or consulting."]
[null,"Registering evaluation software with a Non-Commercial License removes restrictions on Current Performance input values (gray cells). All other features including cell and macro protection are the same in evaluation and registered Non-Commercial software."]
[null,"All non-input cells and macros remain protected to ensure the integrity of the formula and programming."]
[]
[null,"Commercial License "]
[null,"This license allows the commercial use of software for inter-business support, advice, or consulting."]
[null,"Registering evaluation software with a Commercial License removes restrictions on Current Performance input values (gray cells) and provides authorization for Commercial use. "]
[null,"Once you have registered your software with your Commercial license calculation sheets are protected without a password. To unprotect a calculation sheet from the sheet go Review, Unprotect Sheet when using Excel 2007 or Tools, Protection, Unprotect Sheet when using Excel 97-2003. An additional calcualtion sheet named Worksheet is also displayed and includes underlying formula and calculations. Unprotecting the sheets allows you to view the underlying formula and undertake minor refinements. All non calculation sheets and macros remain password protected. Any changes to formula may impact on the validity of the software. It is recommended that you save a master copy to ensure you always have a valid version."]
[]
[null,"Source License"]
[null,"This license allows you to access and modify all software code including macros. For additional details please submit your request at:"]
[null,"www.bizpeponline.com/ContactUs.html"]
[]
[null,"7. Software Support"]
[]
[null,"Bizpep offer support for operation and application of registered software. Simply submit your support request at:"]
[null,"www.bizpeponline.com/ContactUs.html"]
[]
[null,"8. Intellectual Property"]
[]
[null,"Bizpep retain all intellectual property rights. It is prohibited to use the software, concepts, formats, and systems obtained from Bizpep in any manner outside their intended use as designed and defined by Bizpep."]
[null,"You may not modify, translate, reverse engineer, decompile, disassemble or create derivative works based on Bizpep software, services or concepts."]
[]
[null,"9. Hold Harmless"]
[]
[null,"Bizpep provide tools to support business. The specific suitability of these tools must be independently assessed."]
[null,"Services including software, concepts, formats, and systems are provided as is and with no warranties of any kind, whether expressed or implied."]
[null,"The user must assume the entire risk of using Bizpep software or services, and agrees to hold Bizpep harmless from any claims or losses relating to service or software use."]
[null,"In no event shall Bizpep, its principals, distributors, employees, or other associated parties, be liable for any incidental, consequential, or punitive damages whatsoever relating to software or service use."]
[null,"In addition use of software and services is entirely at the users risk, and use acknowledges that Bizpep is held harmless from any claims or losses relating to software or services provided."]
[]
[null,"10. Distribution"]
[]
[null,"You may freely distribute this software in Evaluation form without Registration Codes.  Any software distributed must require the user to provide payment to Bizpep to maintain the software as originally designed."]
[null,"You may not sell or require payment in any form for Bizpep software. Evaluation software must be distributed without cost or penalty to the user."]
[]
[null,"All rights of any kind which are not expressly granted are entirely and exclusively reserved to and by Bizpep."]
[]
[null,"11. Contact Details"]
[]
[null,"For software support and to contact us please submit your request at:"]
[null,"www.bizpeponline.com/ContactUs.html"]
[null,"Additional business support software and online help are available at:"]
[null,"www.bizpeponline.com"]
[]
[null,{"$f":"B10","v":"Copyright © Bizpep 2010 - www.bizpeponline.com."}]

{"sheet":"Worksheet","index":14,"n_rows":99,"n_cols":22,"rows_kept":99,"cut":false,"hidden":true,"merged":[[47,16,47,20],[48,16,48,19],[69,16,69,18],[48,1,48,4],[47,1,47,5],[69,1,69,3],[47,9,47,13],[48,9,48,12],[69,9,69,11]]}
[]
[null,"Expected Forecast",null,null,null,null,null,null,null,"Optimistic Forecast improved by",{"$f":"+'Sensitivity Analysis'!E7","v":0.2},null,null,null,null,null,"Pessimistic Forecast degraded by",{"$f":"+'Sensitivity Analysis'!E8","v":0.2}]
[null,{"$f":"+Input!C11","v":"Example Business"},null,null,null,null,null,null,null,{"$f":"+$B3","v":"Example Business"},null,null,null,null,null,null,{"$f":"+$B3","v":"Example Business"}]
[null,"Expected",{"$f":"+C50","v":"Current Year"},{"$f":"+D50","v":"Year 1"},{"$f":"+E50","v":"Year 2"},{"$f":"+F50","v":"Year 3"},{"$f":"+G85","v":"3 Year Average"},null,null,"Optimistic",{"$f":"+K50","v":"Current Year"},{"$f":"+L50","v":"Year 1"},{"$f":"+M50","v":"Year 2"},{"$f":"+N50","v":"Year 3"},{"$f":"+O85","v":"3 Year Average"},null,"Pessimistic",{"$f":"+R50","v":"Current Year"},{"$f":"+S50","v":"Year 1"},{"$f":"+T50","v":"Year 2"},{"$f":"+U50","v":"Year 3"},{"$f":"+V85","v":"3 Year Average"}]
[null,{"$f":"+Input!B13","v":"Business Revenue"},{"$f":"+Input!C13","v":500000},{"$f":"+C5*D52*D56/D51","v":560679.61165048543},{"$f":"+D5*E52*E56/E51","v":588713.59223300975},{"$f":"+E5*F52*F56/F51","v":625128.8659793816},{"$f":"AVERAGE(D5:F5)","v":591507.35662095889},null,null,{"$f":"+$B5","v":"Business Revenue"},{"$f":"+C5","v":500000},{"$f":"+K5*L52*L56/L51","v":579687.5},{"$f":"+L5*M52*M56/M51","v":614468.75},{"$f":"+M5*N52*N56/N51","v":660362.68153526972},{"$f":"AVERAGE(L5:N5)","v":618172.9771784232},null,{"$f":"+$B5","v":"Business Revenue"},{"$f":"+C5","v":500000},{"$f":"+R5*S52*S56/S51","v":542084.94208494201},{"$f":"+S5*T52*T56/T51","v":563768.33976833976},{"$f":"+T5*U52*U56/U51","v":591494.65156022529},{"$f":"AVERAGE(S5:U5)","v":565782.6444711691}]
[null,{"$f":"+Input!B15","v":"Expenses"},null,null,null,null,null,null,null,{"$f":"+$B6","v":"Expenses"},null,null,null,null,null,null,{"$f":"+$B6","v":"Expenses"}]
[null,{"$f":"+Input!B16","v":"Variable Costs"},null,null,null,null,null,null,null,"Variable Costs",null,null,null,null,null,null,"Variable Costs"]
[null,{"$f":"+Input!B17","v":"Materials & Supplies"},{"$f":"IF(Input!C$15=Input!B$86,Input!C$17,Input!D$17)","v":10000},{"$f":"+D5*$C9*$D53/D57","v":11431.331888019608},{"$f":"+E5*$C9*$D53*$E53/D57/E57","v":12002.898482420587},{"$f":"+F5*$C9*$D53*$E53*F53/D57/E57/F57","v":12745.345811230112},{"$f":"AVERAGE(D8:F8)","v":12059.858727223434},null,null,"Materials & Supplies",{"$f":"+C8","v":10000},{"$f":"+L5*$C9*$D53/L57","v":11750.422297297297},{"$f":"+M5*$C9*$D53*$E53/L57/M57","v":12337.943412162162},{"$f":"+N5*$C9*$D53*$E53*N53/L57/M57/N57","v":13259.449559128632},{"$f":"AVERAGE(L8:N8)","v":12449.271756196031},null,"Materials & Supplies",{"$f":"+C8","v":10000},{"$f":"+S5*$C9*$D53/S57","v":11116.97635135135},{"$f":"+T5*$C9*$D53*$E53/S57/T57","v":11672.82516891892},{"$f":"+U5*$C9*$D53*$E53*U53/S57/T57/U57","v":12246.898537882147},{"$f":"AVERAGE(S8:U8)","v":11678.90001938414}]
[null,"% Revenue",{"$f":"+C8/C$5","v":0.02},{"$f":"+D8/D5","v":2.0388349514563111E-2},{"$f":"+E8/E5","v":2.0388349514563107E-2},{"$f":"+F8/F5","v":2.0388349514563111E-2},{"$f":"+G8/G5","v":2.0388349514563107E-2},null,null,"% Revenue",{"$f":"+K8/K$5","v":0.02},{"$f":"+L8/L5","v":2.0270270270270268E-2},{"$f":"+M8/M5","v":2.0079041305456399E-2},{"$f":"+N8/N5","v":2.0079041305456402E-2},{"$f":"+O8/O5","v":2.013881585866022E-2},null,"% Revenue",{"$f":"+R8/R$5","v":0.02},{"$f":"+S8/S5","v":2.05078125E-2},{"$f":"+T8/T5","v":2.0705003004807696E-2},{"$f":"+U8/U5","v":2.0705003004807699E-2},{"$f":"+V8/V5","v":2.0642025932591627E-2}]
[null,{"$f":"+Input!B18","v":"Labor excluding Owner"},{"$f":"IF(Input!C$15=Input!B$86,Input!C$18,Input!D$18)","v":200000},{"$f":"+D$5*($C11+$C13)*D54/D57-D12","v":222477.96682062396},{"$f":"+E$5*($C11+$C13)*D54*E54/D57/E57-E12","v":229085.76170759567},{"$f":"+F$5*($C11+$C13)*D54*E54*F54/D57/E57/F57-F12","v":258404.25030321415},{"$f":"AVERAGE(D10:F10)","v":236655.99294381126},null,null,"Labor excluding Owner",{"$f":"+C10","v":200000},{"$f":"+L$5*($C11+$C13)*L54/L57-L12","v":230170.39695945947},{"$f":"+M$5*($C11+$C13)*L54*M54/L57/M57-M12","v":235320.77756314661},{"$f":"+N$5*($C11+$C13)*L54*M54*N54/L57/M57/N57-N12","v":265969.27342111943},{"$f":"AVERAGE(L10:N10)","v":243820.14931457516},null,"Labor excluding Owner",{"$f":"+C10","v":200000},{"$f":"+S$5*($C11+$C13)*S54/S57-S12","v":214900.33783783778},{"$f":"+T$5*($C11+$C13)*S54*T54/S57/T57-T12","v":222879.78046240841},{"$f":"+U$5*($C11+$C13)*S54*T54*U54/S57/T57/U57-U12","v":250882.66180386988},{"$f":"AVERAGE(S10:U10)","v":229554.26003470537}]
[null,"% Revenue",{"$f":"+C10/C$5","v":0.4},{"$f":"+D10/D$5","v":0.39680052956751977},{"$f":"+E10/E$5","v":0.38912939115039952},{"$f":"+F10/F$5","v":0.41336157129518475},{"$f":"+G10/G$5","v":0.40008968661984318},null,null,"% Revenue",{"$f":"+K10/K$5","v":0.4},{"$f":"+L10/L$5","v":0.39705944488963357},{"$f":"+M10/M$5","v":0.38296622499215233},{"$f":"+N10/N$5","v":0.40276242261717526},{"$f":"+O10/O$5","v":0.39442058827524806},null,"% Revenue",{"$f":"+R10/R$5","v":0.4},{"$f":"+S10/S$5","v":0.39643295940170936},{"$f":"+T10/T$5","v":0.39533929939022971},{"$f":"+U10/U$5","v":0.42415034716222672},{"$f":"+V10/V$5","v":0.40572870567506936}]
[null,{"$f":"+Input!B19","v":"Labor Owner"},{"$f":"IF(Input!C$15=Input!B$86,Input!C$19,Input!D$19)","v":50000},{"$f":"IF((D$5*$C13*D54/D57+D32)<=D$60,D$5*$C13*$D54/D57,(D$60-D32))","v":49696.601941747576},{"$f":"IF((E$5*$C13*D54*E54/D57/E57+E32)<=E$60,E$5*$C13*$D54*$E54/D57/E57,(E$60-E32))","v":51254.044117647063},{"$f":"IF((F$5*$C13*D54*E54*F54/D57/E57/F57+F32)<=F$60,F$5*$C13*$D54*$E54*F54/D57/E57/F57,(F$60-F32))","v":54160.182686476648},{"$f":"AVERAGE(D12:F12)","v":51703.609581957098},null,null,"Labor Owner",{"$f":"+C12","v":50000},{"$f":"IF((L$5*$C13*L54/L57+L32)<=L$60,L$5*$C13*$D54/L57,(L$60-L32))","v":49601.5625},{"$f":"IF((M$5*$C13*L54*M54/L57/M57+M32)<=M$60,M$5*$C13*$D54*$E54/L57/M57,(M$60-M32))","v":51165.708923339844},{"$f":"IF((N$5*$C13*L54*M54*N54/L57/M57/N57+N32)<=N$60,N$5*$C13*$D54*$E54*N54/L57/M57/N57,(N$60-N32))","v":54229.896703361861},{"$f":"AVERAGE(L12:N12)","v":51665.722708900568},null,"Labor Owner",{"$f":"+C12","v":50000},{"$f":"IF((S$5*$C13*S54/S57+S32)<=S$60,S$5*$C13*$D54/S57,(S$60-S32))","v":49789.575289575288},{"$f":"IF((T$5*$C13*S54*T54/S57/T57+T32)<=T$60,T$5*$C13*$D54*$E54/S57/T57,(T$60-T32))","v":51338.969537591584},{"$f":"IF((U$5*$C13*S54*T54*U54/S57/T57/U57+U32)<=U$60,U$5*$C13*$D54*$E54*U54/S57/T57/U57,(U$60-U32))","v":54084.551310884242},{"$f":"AVERAGE(S12:U12)","v":51737.698712683712}]
[null,"% Revenue",{"$f":"+C12/C$5","v":0.1},{"$f":"+D12/D$5","v":8.8636363636363638E-2},{"$f":"+E12/E$5","v":8.7061085040076633E-2},{"$f":"+F12/F$5","v":8.6638428704815224E-2},{"$f":"+G12/G$5","v":8.7409918073240556E-2},null,null,"% Revenue",{"$f":"+K12/K$5","v":0.1},{"$f":"+L12/L$5","v":8.556603773584906E-2},{"$f":"+M12/M$5","v":8.3268203506427052E-2},{"$f":"+N12/N$5","v":8.2121383021347277E-2},{"$f":"+O12/O$5","v":8.3578099684529394E-2},null,"% Revenue",{"$f":"+R12/R$5","v":0.1},{"$f":"+S12/S$5","v":9.1848290598290611E-2},{"$f":"+T12/T$5","v":9.1063945802077995E-2},{"$f":"+U12/U$5","v":9.1437092741619513E-2},{"$f":"+V12/V$5","v":9.1444478225454193E-2}]
[null,{"$f":"+Input!B20","v":"Distribution"},{"$f":"IF(Input!C$15=Input!B$86,Input!C$20,Input!D$20)","v":20000},{"$f":"+D$5*$C15/D57","v":21773.965500989725},{"$f":"+E$5*$C15/D57/E57","v":21773.965500989729},{"$f":"+F$5*$C15/D57/E57/F57","v":23120.808727855074},{"$f":"AVERAGE(D14:F14)","v":22222.913243278173},null,null,"Distribution",{"$f":"+C14","v":20000},{"$f":"+L$5*$C15/L57","v":22381.756756756757},{"$f":"+M$5*$C15/L57/M57","v":22381.756756756753},{"$f":"+N$5*$C15/L57/M57/N57","v":24053.423236514522},{"$f":"AVERAGE(L14:N14)","v":22938.978916676006},null,"Distribution",{"$f":"+C14","v":20000},{"$f":"+S$5*$C15/S57","v":21175.193050193047},{"$f":"+T$5*$C15/S57/T57","v":21175.193050193051},{"$f":"+U$5*$C15/S57/T57/U57","v":22216.595987087789},{"$f":"AVERAGE(S14:U14)","v":21522.327362491294}]
[null,"% Revenue",{"$f":"+C14/C$5","v":0.04},{"$f":"+D14/D$5","v":3.8834951456310676E-2},{"$f":"+E14/E$5","v":3.6985668053629218E-2},{"$f":"+F14/F$5","v":3.6985668053629218E-2},{"$f":"+G14/G$5","v":3.7569969324183293E-2},null,null,"% Revenue",{"$f":"+K14/K$5","v":0.04},{"$f":"+L14/L$5","v":3.8610038610038609E-2},{"$f":"+M14/M$5","v":3.642456472645151E-2},{"$f":"+N14/N$5","v":3.6424564726451517E-2},{"$f":"+O14/O$5","v":3.7107702477352275E-2},null,"% Revenue",{"$f":"+R14/R$5","v":0.04},{"$f":"+S14/S$5","v":3.90625E-2},{"$f":"+T14/T$5","v":3.7560096153846152E-2},{"$f":"+U14/U$5","v":3.7560096153846152E-2},{"$f":"+V14/V$5","v":3.8039921465968581E-2}]
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[null,"% Revenue",{"$f":"+C16/C$5","v":0.02},{"$f":"+D16/D$5","v":1.9417475728155338E-2},{"$f":"+E16/E$5","v":1.8492834026814609E-2},{"$f":"+F16/F$5","v":1.8492834026814609E-2},{"$f":"+G16/G$5","v":1.8784984662091646E-2},null,null,"% Revenue",{"$f":"+K16/K$5","v":0.02},{"$f":"+L16/L$5","v":1.9305019305019305E-2},{"$f":"+M16/M$5","v":1.8212282363225755E-2},{"$f":"+N16/N$5","v":1.8212282363225758E-2},{"$f":"+O16/O$5","v":1.8553851238676138E-2},null,"% Revenue",{"$f":"+R16/R$5","v":0.02},{"$f":"+S16/S$5","v":1.953125E-2},{"$f":"+T16/T$5","v":1.8780048076923076E-2},{"$f":"+U16/U$5","v":1.8780048076923076E-2},{"$f":"+V16/V$5","v":1.901996073298429E-2}]
[null,{"$f":"+Input!B22","v":"Other"},{"$f":"IF(Input!C$15=Input!B$86,Input!C$22,Input!D$22)","v":20000},{"$f":"+D$5*$C19/D57","v":21773.965500989725},{"$f":"+E$5*$C19/D57/E57","v":21773.965500989729},{"$f":"+F$5*$C19/D57/E57/F57","v":23120.808727855074},{"$f":"AVERAGE(D18:F18)","v":22222.913243278173},null,null,"Other",{"$f":"+C18","v":20000},{"$f":"+L$5*$C19/L57","v":22381.756756756757},{"$f":"+M$5*$C19/L57/M57","v":22381.756756756753},{"$f":"+N$5*$C19/L57/M57/N57","v":24053.423236514522},{"$f":"AVERAGE(L18:N18)","v":22938.978916676006},null,"Other",{"$f":"+C18","v":20000},{"$f":"+S$5*$C19/S57","v":21175.193050193047},{"$f":"+T$5*$C19/S57/T57","v":21175.193050193051},{"$f":"+U$5*$C19/S57/T57/U57","v":22216.595987087789},{"$f":"AVERAGE(S18:U18)","v":21522.327362491294}]
[null,"% Revenue",{"$f":"+C18/C$5","v":0.04},{"$f":"+D18/D$5","v":3.8834951456310676E-2},{"$f":"+E18/E$5","v":3.6985668053629218E-2},{"$f":"+F18/F$5","v":3.6985668053629218E-2},{"$f":"+G18/G$5","v":3.7569969324183293E-2},null,null,"% Revenue",{"$f":"+K18/K$5","v":0.04},{"$f":"+L18/L$5","v":3.8610038610038609E-2},{"$f":"+M18/M$5","v":3.642456472645151E-2},{"$f":"+N18/N$5","v":3.6424564726451517E-2},{"$f":"+O18/O$5","v":3.7107702477352275E-2},null,"% Revenue",{"$f":"+R18/R$5","v":0.04},{"$f":"+S18/S$5","v":3.90625E-2},{"$f":"+T18/T$5","v":3.7560096153846152E-2},{"$f":"+U18/U$5","v":3.7560096153846152E-2},{"$f":"+V18/V$5","v":3.8039921465968581E-2}]
[null,{"$f":"+Input!B23","v":"Total Variable Costs"},{"$f":"+C8+C10+C12+C14+C16+C18","v":310000},{"$f":"+D8+D10+D12+D14+D16+D18","v":338040.81440286536},{"$f":"+E8+E10+E12+E14+E16+E18","v":346777.61806013767},{"$f":"+F8+F10+F12+F14+F16+F18","v":383111.80062055867},{"$f":"AVERAGE(D20:F20)","v":355976.74436118727},null,null,"Total Variable Costs",{"$f":"+K8+K10+K12+K14+K16+K18","v":310000},{"$f":"+L8+L10+L12+L14+L16+L18","v":347476.7736486487},{"$f":"+M8+M10+M12+M14+M16+M18","v":354778.82179054053},{"$f":"+N8+N10+N12+N14+N16+N18","v":393592.1777748962},{"$f":"AVERAGE(L20:N20)","v":365282.59107136185},null,"Total Variable Costs",{"$f":"+R8+R10+R12+R14+R16+R18","v":310000},{"$f":"+S8+S10+S12+S14+S16+S18","v":328744.8721042471},{"$f":"+T8+T10+T12+T14+T16+T18","v":338829.55779440154},{"$f":"+U8+U10+U12+U14+U16+U18","v":372755.6016203558},{"$f":"AVERAGE(S20:U20)","v":346776.67717300146}]
[null,{"$f":"+'Expected Results'!B22","v":"Total Variable Costs %"},{"$f":"IF(C20=0,0,+C20/C$5)","v":0.62},{"$f":"IF(D20=0,0,+D20/D$5)","v":0.60291262135922308},{"$f":"IF(E20=0,0,+E20/E$5)","v":0.58904299583911235},{"$f":"IF(F20=0,0,+F20/F$5)","v":0.6128525196486363},{"$f":"IF(G20=0,0,+G20/G$5)","v":0.60181287751810519},null,null,"Total Variable Costs %",{"$f":"IF(K20=0,0,+K20/K$5)","v":0.62},{"$f":"IF(L20=0,0,+L20/L$5)","v":0.5994208494208495},{"$f":"IF(M20=0,0,+M20/M$5)","v":0.57737488162016459},{"$f":"IF(N20=0,0,+N20/N$5)","v":0.59602425876010767},{"$f":"IF(O20=0,0,+O20/O$5)","v":0.59090676001181841},null,"Total Variable Costs %",{"$f":"IF(R20=0,0,+R20/R$5)","v":0.62},{"$f":"IF(S20=0,0,+S20/S$5)","v":0.60644531250000011},{"$f":"IF(T20=0,0,+T20/T$5)","v":0.60100848858173073},{"$f":"IF(U20=0,0,+U20/U$5)","v":0.63019268329326938},{"$f":"IF(V20=0,0,+V20/V$5)","v":0.61291501349803656}]
[null,{"$f":"+'Expected Results'!B23","v":"Gross Profit"},{"$f":"+C5-C20","v":190000},{"$f":"+D5-D20","v":222638.79724762007},{"$f":"+E5-E20","v":241935.97417287208},{"$f":"+F5-F20","v":242017.06535882293},{"$f":"+G5-G20","v":235530.61225977162},null,null,"Gross Profit",{"$f":"+K5-K20","v":190000},{"$f":"+L5-L20","v":232210.7263513513},{"$f":"+M5-M20","v":259689.92820945947},{"$f":"+N5-N20","v":266770.50376037351},{"$f":"+O5-O20","v":252890.38610706135},null,"Gross Profit",{"$f":"+R5-R20","v":190000},{"$f":"+S5-S20","v":213340.06998069491},{"$f":"+T5-T20","v":224938.78197393822},{"$f":"+U5-U20","v":218739.0499398695},{"$f":"+V5-V20","v":219005.96729816764}]
[null,{"$f":"+'Expected Results'!B24","v":"Gross Profit %"},{"$f":"IF(C22=0,0,+C22/C$5)","v":0.38},{"$f":"IF(D22=0,0,+D22/D$5)","v":0.39708737864077692},{"$f":"IF(E22=0,0,+E22/E$5)","v":0.4109570041608876},{"$f":"IF(F22=0,0,+F22/F$5)","v":0.38714748035136376},{"$f":"IF(G22=0,0,+G22/G$5)","v":0.39818712248189486},null,null,"Gross Profit %",{"$f":"IF(K22=0,0,+K22/K$5)","v":0.38},{"$f":"IF(L22=0,0,+L22/L$5)","v":0.4005791505791505},{"$f":"IF(M22=0,0,+M22/M$5)","v":0.42262511837983535},{"$f":"IF(N22=0,0,+N22/N$5)","v":0.40397574123989227},{"$f":"IF(O22=0,0,+O22/O$5)","v":0.40909323998818153},null,"Gross Profit %",{"$f":"IF(R22=0,0,+R22/R$5)","v":0.38},{"$f":"IF(S22=0,0,+S22/S$5)","v":0.39355468749999994},{"$f":"IF(T22=0,0,+T22/T$5)","v":0.39899151141826922},{"$f":"IF(U22=0,0,+U22/U$5)","v":0.36980731670673062},{"$f":"IF(V22=0,0,+V22/V$5)","v":0.38708498650196338}]
[null,{"$f":"+'Expected Results'!B25","v":"Mark-up Equivalent"},{"$f":"IF(C5=0,0,+C5/C20-1)","v":0.61290322580645151},{"$f":"IF(D5=0,0,+D5/D20-1)","v":0.65861513687600715},{"$f":"IF(E5=0,0,+E5/E20-1)","v":0.69766894278314084},{"$f":"IF(F5=0,0,+F5/F20-1)","v":0.63171394085697008},{"$f":"IF(G5=0,0,+G5/G20-1)","v":0.66164606534182324},null,null,"Mark-up Equivalent",{"$f":"IF(K5=0,0,+K5/K20-1)","v":0.61290322580645151},{"$f":"IF(L5=0,0,+L5/L20-1)","v":0.66827697262479857},{"$f":"IF(M5=0,0,+M5/M20-1)","v":0.73197697342480872},{"$f":"IF(N5=0,0,+N5/N20-1)","v":0.67778405879027726},{"$f":"IF(O5=0,0,+O5/O20-1)","v":0.69231436780313604},null,"Mark-up Equivalent",{"$f":"IF(R5=0,0,+R5/R20-1)","v":0.61290322580645151},{"$f":"IF(S5=0,0,+S5/S20-1)","v":0.64895330112721394},{"$f":"IF(T5=0,0,+T5/T20-1)","v":0.66387001015545666},{"$f":"IF(U5=0,0,+U5/U20-1)","v":0.58681626510512075},{"$f":"IF(V5=0,0,+V5/V20-1)","v":0.6315475685491645}]
[null,{"$f":"+Input!B24","v":"Fixed Costs"},null,null,null,null,null,null,null,"Fixed Costs",null,null,null,null,null,null,"Fixed Costs"]
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[null,"% Revenue",{"$f":"+C28/C$5","v":0.06},{"$f":"+D28/D$5","v":5.5129870129870133E-2},{"$f":"+E28/E$5","v":5.2175415620793766E-2},{"$f":"+F28/F$5","v":4.7612118440449762E-2},{"$f":"+G28/G$5","v":5.150134883684003E-2},null,null,"% Revenue",{"$f":"+K28/K$5","v":0.06},{"$f":"+L28/L$5","v":5.3814016172506737E-2},{"$f":"+M28/M$5","v":5.0407223036286426E-2},{"$f":"+N28/N$5","v":4.520948723954625E-2},{"$f":"+O28/O$5","v":4.9621296655212553E-2},null,"% Revenue",{"$f":"+R28/R$5","v":0.06},{"$f":"+S28/S$5","v":5.6506410256410261E-2},{"$f":"+T28/T$5","v":5.4045285297178086E-2},{"$f":"+U28/U$5","v":5.0196119917526157E-2},{"$f":"+V28/V$5","v":5.3489935427248919E-2}]
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[null,{"$f":"+Input!B28","v":"Labor Owner"},{"$f":"IF(Input!C$15=Input!B$86,Input!C$28,Input!D$28)","v":10000},{"$f":"IF((($C32+$C32*(D$5-$C$5)/$C$5*$C$59)*$D54/D58)<=D$60,(($C32+$C32*(D$5-$C$5)/$C$5*$C$59)*$D54/D58),D$60)","v":10303.398058252427},{"$f":"IF((($C32+$C32*(E$5-$C$5)/$C$5*$C$59)*$D54*E54/D58/E58)<=E$60,(($C32+$C32*(E$5-$C$5)/$C$5*$C$59)*$D54*$E54/D58/E58),E$60)","v":10545.955882352941},{"$f":"IF((($C32+$C32*(F$5-$C$5)/$C$5*$C$59)*$D54*E54*F54/D58/E58/F58)<=F$60,(($C32+$C32*(F$5-$C$5)/$C$5*$C$59)*$D54*$E54*F54/D58/E58/F58),F$60)","v":10729.81731352335},{"$f":"AVERAGE(D32:F32)","v":10526.390418042907},null,null,"Labor Owner",{"$f":"+C32","v":10000},{"$f":"IF((($C32+$C32*(L$5-$C$5)/$C$5*$C$59)*$D54/L58)<=L$60,(($C32+$C32*(L$5-$C$5)/$C$5*$C$59)*$D54/L58),L$60)","v":10398.4375},{"$f":"IF((($C32+$C32*(M$5-$C$5)/$C$5*$C$59)*$D54*M54/L58/M58)<=M$60,(($C32+$C32*(M$5-$C$5)/$C$5*$C$59)*$D54*$E54/L58/M58),M$60)","v":10634.291076660156},{"$f":"IF((($C32+$C32*(N$5-$C$5)/$C$5*$C$59)*$D54*M54*N54/L58/M58/N58)<=N$60,(($C32+$C32*(N$5-$C$5)/$C$5*$C$59)*$D54*$E54*N54/L58/M58/N58),N$60)","v":10660.103296638141},{"$f":"AVERAGE(L32:N32)","v":10564.277291099432},null,"Labor Owner",{"$f":"+C32","v":10000},{"$f":"IF((($C32+$C32*(S$5-$C$5)/$C$5*$C$59)*$D54/S58)<=S$60,(($C32+$C32*(S$5-$C$5)/$C$5*$C$59)*$D54/S58),S$60)","v":10210.42471042471},{"$f":"IF((($C32+$C32*(T$5-$C$5)/$C$5*$C$59)*$D54*T54/S58/T58)<=T$60,(($C32+$C32*(T$5-$C$5)/$C$5*$C$59)*$D54*$E54/S58/T58),T$60)","v":10461.030462408416},{"$f":"IF((($C32+$C32*(U$5-$C$5)/$C$5*$C$59)*$D54*T54*U54/S58/T58/U58)<=U$60,(($C32+$C32*(U$5-$C$5)/$C$5*$C$59)*$D54*$E54*U54/S58/T58/U58),U$60)","v":10805.448689115756},{"$f":"AVERAGE(S32:U32)","v":10492.301287316295}]
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