Today I didn't have any classes. Instead, I worked with my mom on my senior project during the school day. After school, I had a a full dress rehearsal for my dance recital on Thursday. The dress rehearsal was good, but I was really tired, especially since I hadn't eaten or slept much due to my stomach bug. I was also dancing on and injured knee and hip, which didn't help at all. (I am also really annoyed because I ruined a pair of tights, because I dropped to my knees during a dance and bled through my tights.) Also, on a completely unrelated but very exciting note, my prom dress arrived today.
Working with my mom went really well. We revised my budget and inventory spreadsheets and created gross sales and income statement sheets.
In my budget, we added several categories, including deliveries, marketing, and business taxes. Deliveries were a pretty large cost to be added. It added about $15,000 to my budget, with more in the second year, since that is the year I am investing in the refrigerated trucks. Marketing added around $10,000per year. It was funny, because although I had been doing a lot of reading last week about serving and entertaining with oysters, I completely forgot about all the costs of doing so. In my budget, I have only accounted for marketing trips and the occasional business dinner. However, many oyster farms have large festivals to advertize. I decided that in my first 5 years, I would not be putting up anything so extravagant. Finally business taxes were thought of by my mom. According to her they are calculated using total revenue and are very important, because not paying them equates to tax evasion. For the inventory spreadsheets we changed the year from January-December to May-April, since May is the month in which I will get my seed.
My gross sales spreadsheet is one that shows my sales per month, per year, monthly gross sales, annual gross sales, and annual gross sales including inflation. It is helpful for calculating the most amount of money I could possibly expect to earn that year. My income statement is a simple spreadsheet that charts my annual costs, gross annual sales, and gross annual revenues for each year. It shows me whether I am making money or not.
Aside from adding categories and items that I had previously missed, we also bean creating formulas and linking my different spreadsheets, so that I could manipulate the numbers and totals. Here is a video of me doing some formula manipulation in Excel. (I am sorry for the length.)
https://www.youtube.com/watch?v=iPhjtTPfAnM
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