BUSINESS PLAN

AND FINANCIAL
STATEMENT.
LEARNING ACTIVITY NUMBER 3

Get ready to be up to the lastest app in the market.

YOUR CLOSET UP TO DATE

Closetuptodate.com
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Contents
Executive summary ___________________________________________________________ 1
Mission ____________________________________________________________________ 2
Vision ______________________________________________________________________ 2
Legal form _________________________________________________________________ 2
Products and services _________________________________________________________ 3
Financial plan _______________________________________________________________ 4
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EXECUTIVE SUMMARY

Our product is focused on a female audience mainly, we seek to solve the problems
that occur in the creation of outfits and the reduction of time in the dressing room.

The objectives that are sought to achieve with this product are:

1. Create an application for cellphones that facilitates the lives of customers.

2. Show an income statement or a high revenue, according to a sale of
approximately 1 million downloads in the first year.
3. Acquire a patent on the product.
4. Make an alliance with the main software creators, in order to have them as
General Partners and get help with the merchandising and development of the
app.

We are a growing company that seeks to improve the lives of its customers from our
application, always growing and improving.
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OUR VALUES:
MISSION STATEMENT
 Committed to
excellence.
QUALITY PUBLIC SERVICE PROVIDED WITH INTEGRITY.
 Progressive
We are a growth company delivering a product designed to make life easier for
spirit.
women, that responds to the dynamics of the world and the necessary organization in
 We encourage
the closet.
innovation to
meet
challenges.
 Collaboration.
VISION STATEMENT

We hope that by the year 2010 we will be a leading company in the country and be
the preferred application in clothing and closet organization, also, to grow in the
female market and get into the masculine’s, expanding our customers and improving
our product every day.

LEGAL FORM

Your closet up to date will be organized as a sole proprietorship, wholly owned and
operated by me. For now the company is looking forming a partnership with Apple’s
appstore and google’s playstore as distributors.
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PRODUCTS AND SERVICES

the mobile app called "your closet up to date: ready for

anything". My product is designed to solve the
organizational problems not only of the client's closet, but
of the time itself.

This product is created with the purpose of cataloging

clothes that sometimes we can’t even remember to have
in the closet more easily by means of photographs and
selfies, this in order to help to have a better knowledge
and ease the recognition and creation of daily outfits, it will
also reduce the time for getting dress. Becoming the best
friend of all of our costumers!

This application can be purchased at a price of 3,000

Colombian pesos or at 1 dollar each, it can be acquired In
the main virtual phone stores, like Playstore and Appstore.
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FINANCIAL PLAN
Balance sheet, your closet up to date: March 18, 2018.
ASSETS
Current assets
Cash 6.000.00 COP
Accounts Receivable 3.000.00 COP
Total Assets: 9.000.00 COP

Liabilities
Line of Credit 700.00 COP
Loans Payable 300.00 COP
Total Liabilities: 1.000.00 COP

Owner’s Equity
Common Stock 3.000.00 COP
Total Owner’s Equity 3.000.00 COP

Income statement

Income

Services rendered 10.000.00 COP

Total: 10.000.00 COP

Expenses
Salaries 4.000.00 COP
Water & electricity 300.00 COP
Tax expense 800.00 COP
Total: 5.100.00 COP

Net profit
Total NET PROFIT 4.900.00 COP
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Statement of changes in net worth (In millions)

0
DECEMBER JANUARY FEBRUARY MARCH

Assets Liabilities Net Worth

December was the best month for the growing in net worth, getting to 5.000.00
COP, in the next few month there has been a stagnation between 3.000.00
COP and 4.000.00 COP.