A Business Plan for and Adventure Recreation Company

Adventure IS our Name! A Business Plan For Unlimited Adventure Expeditions Table of Contents 1. 0 UAE 1. 1Objectives 1. 2 Mission 2. 0 Company Summary 2. 1 Company Ownership 2.

2 Start-up Summary 2. 3 Services and Products 4. Market Analysis Summary 4. 1 Market Segmentation 4. 2Market Segmentation 4. 3 Service Business Analysis 4.

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3. 1 Competition and Buying Patterns 5. 0 Strategy and Implementation 5. 1 Competitive Edge 5. 2 Sales Strategy 5.

2. 1 Sales Forecast 5. 3 Milestones 6. 0 Management Summary 6. 1 Personnel Plan 7. 0 Financial Plan 7.

Projected Cash Flow 7. 2 Important Assumptions 7. 3 Break-even Analysis 7. 4 Projected Profit and Loss 7. 5 Projected Balance Sheet 7. 6 Business Ratios Appendix 1.

0 Organizational Overview

UAE was formed as a dream organization to provide hard-adventure sport/travel experiences to clients. UAE’s hard adventures include white-water rafting, and rock climbing. The founder of UAE is . My extensive experiences a multi-sport guide in the Outdoor Recreation Industry, combine with my education from Outdoor Recreation Leadership program which is the #1 ORL curriculum globally to form a solid base of experience. In addition to this I am extremely passionate about the activities UAE offers, and when all of this is combined it is a recipe for a successful operation as outlined herein.

An opportunity exists for two reasons: 1. Tourism is a growing industry (4% annually), and within the industry adventure travel is growing at 10% annually 2. There is not a true modern provider of hard-adventure travel to clients in the Midwest. Virtually all companies that provide “hard” adventure activities appeal to clients. Companies that appeal to a wealthier clientele generally provide “soft” adventure packages. Hard-adventure activities involve difficult physical requirements.

They carry a higher level of risk than do “soft” activities.

Soft adventure activities may involve some physical exertion, however they involve a low level of risk and can be engaged in by non-athletic people. The company’s target customers are high income (min. $75,000 for single person), health-conscious individuals interested in popular hard-adventure sports. These are lawyers, bankers, executives, doctors, etc. The major purchasers are located in urban areas within major United States cities.

Our customers are more likely to be married. 51% are men and 49% are women. In addition, more niche markets are evolving.

Initially, it will be difficult to compete with experienced providers, especially market leaders. However, UAE’s target market is an exploitable niche and our service is differentiated.

UAE’s target market members will have similar activity interests, more disposable income and less sensitivity to price. UAE will price its services at the top of the market. We will provide a luxury service with prestige value. Our prices will be out of reach for the majority of adventure travelers. Service will be priced based upon luxury competitor prices and the value added of our offering.

Providers that offer luxury services similar to ours do so at similar prices. We are competitively priced in the luxury market. Because we appeal to a smaller market, volume will be limited. However, we will be able to capture a higher gross profit margin. 1. 1 Objectives Unlimited Adventure Excursions’ objectives for the first three years of operation include: * To create a service-based company who’s #1 mission is exceeding customers’ expectations.

* Capturing 25% market share of the high-end hard-adventure travel space. * To develop a sustainable, profitable business. To achieve a 35% return rate of customers within the first three years. 1. 2 Mission Unlimited Adventure Excursion’s mission is to provide customers with the highest quality outdoor adventure. We exist to attract and maintain customers.

When we adhere to this maxim, everything else will fall into place. 2. 0 Company Summary Unlimited Adventure Excursions, located in Eugene, OR will offer hard-adventure trips to the upper end of the travel market. UAE will be concentrating on three activities, mountain biking, Heli-skiing, and white-water adventures.

UAE has chosen these three activities to allow the company to not be restricted by seasonal constraints, we will offer trips occurring throughout the year.

While UAE’s office is located in Eugene, it will be leading trips throughout the United States, and the world. UAE expects the first several months will be used to plan trips and train trip leaders. By the end of year one the trips should be in full swing and AEU will be building a solid customer base. 2. 1 Company Ownership Unlimited Adventure Excursions will be a privately held Oregon Corporation.

James Michael “Mike” Hurley, James Michael “Jim” Kemp, and Loren Smith will all hold equal number shares of UAE stock.

2. 2 Start-up Summary Unlimited Adventure Excursions’ start-up costs include all the equipment needed for an office, as well as the equipment needed for the mountain bike trips and white-water adventures. Other costs will be marketing fees, website development, insurance and a deposit for the office lease. The office equipment will consist of four computer systems, DSL router, printer, CD-RW, CPU to be used as an internal server, phones, copier, fax machine and installation of DSL and two phone lines.

The equipment needed for the mountain bike trip will be a fleet of 15 bicycles, a self contained kitchen, shower and toilet system, and bicycle tools. The equipment for the white-water adventures will include inflatable rafts (and other requisite related equipment), self contained kitchen set up, portable shower and toilet facilities, and lots of dry bags.

The marketing costs are for the brochures and advertisements. UAE will also incur costs in the development of our website. Lastly, insurance will be a large start-up expense. Start-up Funding| | | Start-up Expenses to Fund| $2,400 |

Start-up Assets to Fund| $57,600 | Total Funding Required| $60,000 | | | Assets | | Non-cash Assets from Start-up| $13,000 | Cash Requirements from Start-up| $44,600 | Additional Cash Raised| $0 | Cash Balance on Starting Date| $44,600 | Total Assets| $57,600 | | | | | Liabilities and Capital| | | | Liabilities| | Current Borrowing| $0 | Long-term Liabilities| $0 | Accounts Payable (Outstanding Bills)| $0 | Other Current Liabilities (interest-free)| $0 | Total Liabilities| $0 | | | Capital| | | | Planned Investment| | Mike Hurley| $20,000 | Jim Kemp| $20,000 | Loren Smith| $20,000 |

Additional Investment Requirement| $0 | Total Planned Investment| $60,000 | | | Loss at Start-up (Start-up Expenses)| ($2,400)| Total Capital| $57,600 | | | | | Total Capital and Liabilities| $57,600 | | | Total Funding | $60,000 | Start-up| | | Requirement| | | | Expenses| | Legal| $0 | Stationery etc. | $50 | Brochures| $100 | Consultants| $0 | Insurance| $500 | Rent| $450 | Research and Development| $400 | Website Development| $500 | Office Equipment| $400 | Expensed Equipment| $0 | Other| $0 | Total Start-up Expenses| $2,400 | | | Start-up Assets| | Cash Required| $44,600 |

Other Current Assets| $0 | Long-term Assets| $13,000 | Total Assets| $57,600 | | | Total Requirements| | 3.

0 Services and Products UAE will position itself as a niche service provider within the hard-adventure market. It will offer high-quality travel packages for extreme sporting trips. To begin UAE will offer six trips: helicopter-skiing trips to Canada, India, and New Zealand, white-water rafting trips to New Zealand and Costa Rica, and a mountain biking trip along the Great Divide from Montana to New Mexico. The target market will be made up of young professionals who work and play hard.

These people can afford to play expensively, and are willing to buy time in the form of our services.

UAE will serve the hard-adventure niche market as a top quality, full-service provider. UAE defines quality by the unique aspects of the services offered. Those aspects include booking group or custom trips, assistance with passports, providing top-of-the-line equipment and supplies, and a superior service offering with access to better terrain, luxury accommodations, entertainment, celebrity exposure, and gourmet food. The tours to be offered are as follows: Mountain Biking: This event will take place on the Great Divide trail from Montana to New Mexico and is designed for the serious biker that appreciates a few of life’s comforts along the trail. Showers and gourmet meals will be provided, along with entertainment.

All excursions will maintain a staff to client ratio of 1:2. A comprehensive map system has been created by Adventure Cycling and is currently available for purchase. The map clearly indicates the route, places to camp, stores for food and laundromats. Leadership training for the guides will be developed in-house using some outside material.

There are many similar organizations that will be good sources of information. The products needed for this trip are for the most part already manufactured.

One item that needs to be designed and built is a privacy compartment for the solar shower. This will be designed by Jordan and manufactured in-house. A cookbook collection of simple recipes, including some personal favorites, will also be assembled. Professional cooks will be provided, and flown in if necessary. * Heli-skiing: Helicopter skiing has become a popular alternative to resort skiing. It offers uncrowded access to the best terrain.

For those who like to get off the beaten path heli-skiing is for them. AEU has planned annual and custom trips to three destinations. Everything will be taken care of for the customer. Transportation, lodging, transfers and skiing is included in the package. Although our trips are planned at peak ski seasons, Mother Nature is unpredictable. In the event that the weather is too treacherous to ski the trip will be postponed.

An in–house travel consultant will accompany each group and take care of all check-in and transfer issues. UAE will not send clients to places we ourselves would not go.

All service providers will be top-notch professionals with accomplished backgrounds. They will be medically trained, and evaluated for knowledge and ability to ensure safety and high-quality service. If they fail, at any time, to meet our rigid standards of quality, they will not be used.

If quality falls, another provider will replace them. These activities take place outside of the United States and therefore we will hire local guides to accompany our professional guides and service providers. * White-water Sports: New Zealand and Costa Rica were chosen for these ten day long hard-adventure excursions.

There can be a maximum of ten people per group. Annual trips will be planned to each location, but for large enough private groups, custom trips can be planed.

As with the heli-skiing trips, local guides will be used in addition to our own. The abroad trips will be a cooperative effort in-house, as well as local guides in the host countries. The choice to seek outside consulting for the trips abroad is due to each countries different legal and regulatory climate. The potential subcontractors and guides are individuals currently in the industry in their respective countries. 4. 0 Market Analysis Summary

Travel industry is an upward growth industry.

There are several reasons for this increase. First, a relative healthy domestic economy over the last several years and the devaluation of currency in other regions has made travel less expensive for U. S. residents. Pleasure travel has increased by 3. 2% in 2008 and is predicted to grow 2.

0% in 2009-2010. Second, the healthy economy had increased business, which in turn boosted domestic business travel 4. 8% in 2008. Adventure travel is a growing segment of the travel industry. One theory of the recent increase in extreme sports has to do with the strong competitive nature of younger Americans.

Statistics show that 8,000 U. S. companies (that offer adventure packages) generated $7 billion in 2009. There also has been a 66% increase in executive participation between 2006 and 2009 (or an increase of 2,000 participants)(La Franco, Robert. Forbes, Feb 9, 2008 v161 n3 p168(3)). Some quick facts: * Adventure travelers: More than 50% of the U.

S. adult traveling population, or 147 million people, have taken an adventure trip in their lifetime (98 million in the past five years). Thirty-one million adults have engaged in hard-adventure activities like white-water rafting, scuba diving and mountain biking.

An additional 25 million engaged in both a hard- and soft-adventure activity. Six-percent of those who participated in adventure trips spent more than $2,500. * Activities most commonly participated in during adventure vacations: camping (85%), hiking (74%), skiing (51%), snorkeling or scuba diving (30%), sailing (26%), kayaking or white-water rafting (24%), and biking trips (24%).

* Biking vacations: Twenty-seven million travelers with customers that tend to be young and affluent. Ages 18-34 and one-fourth are from household’s w/annual income of $75,000 or above. 4. 1 Market Segmentation

UAE’s target customers are high income (min. $75,000 for single person), health-conscious individuals interested in popular hard-adventure sports such as skiing, white-water sports and mountain biking.

The major purchasers are located in urban areas within these United States cities. Customer Location (within the United States): 1. California 2. Florida 3. New York 4.

Texas 5. Illinois 6. Nevada 7. Hawaii 8. New Jersey 9. Pennsylvania 10.

Georgia Hard-adventure travelers are statistically more likely to be men. Therefore, UAE’s primary target market for hard-adventure sports is men between the ages of 18-34.

However an increasing number of hard-adventure travelers are women (some statistics suggest that women comprise 49% of the hard-adventure market). Men, on average, spend more than women on their adventure travels. Customers will be reached through traditional marketing communication methods.

Information has been located relating to specific profiles of both hard- and soft-adventure travelers, where they live, work, what they do, etc. Research suggests that many of our target customers, and travelers in general, are Internet savvy. As such, the Internet will serve as an appropriate and effective medium of communication.

Many adventure travelers purchase over the Internet or buy through travel agents. Purchase decisions are influenced by the amount of disposable income held, family issues, and the economy of a given year.

UAE will be targeting two specific groups: 1. High-income health-conscious individuals. 2. Young, active “trustafarians. ” The common elements between these two groups are money and a love for adventures.

Group one has a lot of money from income that they earn. Group two has a lot of disposable income because the money was given to them, typically by members of their family.

The second group, the trustafarians, is a very small group relative to the first group. Market Analysis| | | Year 1| Year 2| Year 3| Year 4| Year 5| | Potential Customers| Growth| | | | | | CAGR| High-income Health-conscious Individuals| 12% | 1,300,000 | 1,456,000 | 1,630,720 | 1,826,406 | 2,045,575 | 12. 00% | Young, Active Trustafarians| 5% | 500,000 | 525,000 | 551,250 | 578,813 | 607,754 | 5. 00% | Other| 0% | 0 | 0 | 0 | 0 | 0 | 0.

00% | Total| 10. 19% | 1,800,000 | 1,981,000 | 2,181,970 | 2,405,219 | 2,653,329 | 10. 19% | 4. 2 Target Market Segment Strategy

UAE will promote/position itself as a differentiated provider of luxury hard-adventure travel, and will price accordingly within the chosen service niche. UAE is targeting this special population for several reasons: 1. This segment, up until now, has been underserved.

2. This market segment traditionally spends a fair amount of money on adventure trips. 3. This target segment seems to be willing to pay a premium for a top-shelf adventure excursion. Methods of communication will include direct mail, magazine advertising, personal selling and WWW presence.

Continuous magazine advertising will be costly.

Initially the use of direct mail and personal marketing tactics will be employed. These methods of communication will be tailored to reach our target segment. 4. 3 Service Business Analysis As operations progress, UAE will continue to measure our progress relative to competitors and to the growth of the market(s) in which we operate. Though the primary target market has been defined, there may be new possibilities to serve additional segments.

As the product is defined, and the strategy differentiation is defined based on competitive strengths, UAE will be better able to determine whether adjustments in positioning are necessary.

Access to important information concerning the market, competitors, etc. , is available. However it is not free. For the purposes of this project, we feel it is unnecessary to incur additional expense. The marketing strategy will be to develop long-term relationships with customers.

We will keep a database from which to obtain important demographic and psychographic information. As the business becomes profitable, plans will be implemented to expand. There is virtually no limit to the number and variety of trips UAE can provide. Trips can take place on every continent and in most countries.

The goal is to establish UAE as an international provider of top-of-the-line hard-adventure travel.

4. 3. 1 Competition and Buying Patterns Strengths and weaknesses of the competitors: The competitors in this market are of two primary types. First there is the adventure provider who specializes in a single type of hard-adventure activity such as white-water rafting. They typically serve clients who purchase trips for less than $2,000 (and closer to the mean purchase price of around $900). Their strength is their expertise in a given sport.

Their weakness is that they provide an undifferentiated product in a competitive market.

In addition, they do not have the resources, ability or desire to target and/or accommodate a customer demanding more accommodation and a more luxury/adventure-oriented service. Companies that offer higher-priced, more luxurious packages generally provide a “soft” adventure. The activities are more along the lines of sightseeing and low-risk alternatives. The advantages these companies have include established reputations, extensive knowledge of the industry, and key personnel and management.

Some have been in operation for more than twenty years. They are familiar with local service providers and have established strategic relationships.

Disadvantages to us: * It will be difficult to price ourselves competitively when we first enter the market. * Many of UAE’s activities are seasonal. Recurring revenue will depend upon successful trips in various regions of the world. For example, ski trips will end in April in North America.

UAE will then have to move ski operations to places like Las Lenas, Argentina. * The weather for a given year is hard to predict. Poor conditions will threaten the success of trips. Unforeseen occurrences such as inadequate snowfall could effect the viability of activities such as skiing and white-water sports.

Closely related competitors: Abercrombie ;amp; Kent: A well-established, international travel provider. Their focus is mainly on “soft” adventure packages such as safaris, river tours (e.

g. Amazon), trekking, sightseeing, etc. However they do offer a “Connoisseur” line of packages. These are generally priced starting from $4,000-7,000.

Some of their packages include white-water activities and hiking, however most are touring packages. Competing or substitute products: There are many activities and types of travel available to people contemplating a vacation. Theme parks, motorhome trips, and cruises are just a few.

Substitutes could include less expensive, self-planned trips, trips geared towards soft-travel, adventure trips involving hunting or fishing as primary activities, or exclusive adventure trips such as personal submarine tours of the Titanic or a trip around the world in a Leer Jet. Many activities that take place outside and involve some level of risk could be seen as hard-adventure competition.

Another alternative is to do nothing. Consumers do not have to vacation. They may opt to spend the money they would have otherwise spent on a vacation on something else. 5. Strategy and Implementation Summary Unlimited Adventure Excursions will be going after the upper-end of the hard-adventure market.

This market up until now has been under-served, there are hard-adventure tour companies, but none that are catering to the high-end spectrum. With the adventuring traveling industry steadily increasing, UAE sees a unique opportunity. UAE’s main objective in its marketing and sales activity is to make the impression on prospective customers that UAE offers a higher level of service relative to any other provider of hard-adventure tours.

This will be communicated through all of the different media that we use. If UAE can make the impression that our trips are truly different and superior, then our research indicates that there will be steady demand. Once UAE has clients signed up and participating on our trips, it will rely on superior customer attention and service to impress and retain clients for future trips.

Developing long-term relationships will be the key to steady growth. 5. 1 Competitive Edge The competitive edge in our services is the access we provide to popular “hard” adventure sports without the budget constraint of typical travelers.

That is, most travelers are looking to spend less than “hard” adventure sports without the budget constraint of typical travelers. The majority of providers cater to these people. Unlimited Adventure Excursions intends to use the same service providers but provide more exclusive trips.

Accommodations will be primarily in small luxury hotels and resorts. Meals will be exceptional, more like gourmet cuisine. In addition, the adventure activities will be better than average because the clients have more money. They won’t get stuck with people they don’t like; they will get access to the best terrain, sections of rivers, etc.

UAE’s activities are very popular.

UAE’s target market has no problem spending $4,000 per week on heli-skiing. Moreover, they generally make this type of activity an annual event. 5. 2 Sales Strategy The sales strategy is to create long-term relationships with customers through superior service. The intent is to initially target the primary customer group.

This group has been defined as persons who have purchased, or are likely to purchase, a “hard-adventure” vacation for over $2,500. The trips planned are designed with the wealthy adventure traveler in mind.

Later marketing efforts may include trips geared towards corporate clients, Eco-tourism or hard-adventure trips for people who want to spend less money. Target customers will be identified through standard research methods. There are a number of publications available that contain profiles of Adventure travelers.

Methods by which we will contact customers will depend on results of marketing/sales research. We will likely use trade or special interest magazines, direct mail, Web-based communication, and personal selling.

In addition printed materials will be made available to customers through travel agencies that cater to the adventure target market. Initially, service will be introduced regionally, and possibly nationally. Sales will be extended into the global market within a few years of operation.

Our services are seasonal. Recurring revenue will be dependent upon successful trips involving a variety of activities offered year-round. We hope to promote out of season services through frequent customer contact and our own publication, most likely a magazine of some sort.

We will review up-and-coming trips, offer highlights of past trips and try to do other creative articles, giveaways, customer profiles, etc. Most sales will occur at the retail level. The sales that occur between customers and travel agencies will be discounted appropriately, approximately 15%.

Transactions will occur as the result of customer contact in response to communication efforts. In addition, AEU will engage in personal selling. 5. 2. 1 Sales Forecast The following charts and table shows UAE’s expected sales forecast.

White-water Rafting| $140,000 | $260,000 | $310,000 | Mountain Biking| $100,000 | $200,000 | $240,000 | Other| $0 | $0 | $0 | Total Sales| $600,000 | $960,000 | $1,120,000 | | | | | Direct Cost of Sales| Year 1| Year 2| Year 3| Heli-skiing| $0 | $0 | $0 | White-water Rafting| $40,000 | $70,000 | $78,000 | Mountain Biking| $28,000 | $50,000 | $64,000 | Other| $0 | $0 | $0 | Subtotal Direct Cost of Sales| $68,000 | $120,000 | $142,000 | 5. 3 Milestones Unlimited Adventure Excursions will have several milestones early on: 1. Business plan completion. This will serve as a roadmap for the organization.

While UAE does not need a business plan to raise capital, it will be an indispensable tool for the ongoing performance and improvement of the company.

2. Set up the office. This will be the main/only office located in Eugene, OR. 3. Develop the training program. This program will be used to train the leaders of our trips.

Department| Develop Leadership Training Program| 2/1/2011| 3/1/2001| $0 | Mike Hurley| Department| Completion of First Trip| 4/1/2011| 5/1/2001| $0 | Loren Smith| Department| Completion of 20th Trip| 4/1/2011| 5/1/2002| $0 | Loren Smith| Department| Totals| | | $0 | | | 6.

0 Management Summary The founder of UAE is Matt Williams, who will hire professional staff to augment my management team. The additional hire’s will occupy management roles within AEU, as well as being the specialist in at least one type of hard-adventure activity and being responsible for the management and operation of key functional areas.

Mike Hurley, VP, Corporate Council, Business Development, and Mountain Biking Activity Supervisor: Mike received his Bachelor of Arts in philosophy from Washington and Jefferson College in Washington, PA. While there, he was president of the Washington and Jefferson Cycling Club and Team for two years. He completed his Master of Business Management/Doctor of Jurisprudence, joint degree program at Willamette University where he has served as the secretary of the Environmental Law Society, and chairperson for the Willamette University Public Interest Law Project (WUPILP).

As chairperson, Mike supervised twenty-five staff members and raised $14,000. Mike has also managed a bicycle shop for two years. Following graduate school, Mike worked for Counterclaim. com where he did business development, organizational development, and other management activities. He is responsible for all logistics on the mountain bike trips.

Mike’s expertise in mountain bike trip logistics comes from years of cycle touring. Mike has cycled across the country and around the Upper Peninsula of Michigan and Vermont. Mike has also done a great deal of backpacking, backcountry hiking and snowshoeing.

He has served as a consultant on many long-distance bicycle tours in the United States and abroad. In addition to his role as logistical planner, Mike will be responsible for part-manufacturing for the mountain bike trips as he has manufacturing expertise from several years of design and improvement experience with outdoor gear. Mike’s extra curricular activities are based upon his love for the outdoors.

He has been a competitive cyclist and runner for the last five years. He competes in cycling road races, endurance mountain bike races, and road/trail running races up to half-marathons.

His current favorite activity is the duathlon or run/bike/run events. He would like to combine his experience and education with his love for the outdoors. The UAE business concept is a reflection of this desire. Jim Kemp, VP, Human Resource Manager/Corporate Trainer, and Ski-trip Coordinator: Jim graduated with two Bachelor of Science Degrees, one in corporate and industrial fitness and the other in occupational safety, from Oregon State University in 2001.

Jim completed his MBA work at Atkinson Graduate School of Management in 2006. She has six years experience in the field of safety.

After Atkinson Jim worked at Nike as a human resource specialist. His interests include scuba diving and downhill skiing. Jim has competed in track ;amp; field as well as in horse shows and Harness Racing.

Along with his interest in sports, Jim has a variety of experience with business and pleasure travel. Jim will supervise the training of our leaders. Loren Smith, Marketing Manager and White-water Adventure Coordinator: Loren is twenty-seven years old. He received his Bachelor degree in psychology from Western College and graduated Magna cum Laude.

He will complete his Master of Business Administration degree (with an emphasis in marketing) in2005.

Following graduate school, Loren worked for Burley Cooperative as a marketing manager. Loren has been active in athletics for twenty-years. He played football at the grade school, high school and college level, as well as basketball, track and field, and competition karate. He is an avid outdoorsman with a passion for water sports, skiing, hiking, hunting and fishing. He has recently taken up kayaking. Loren gained self-employment and management experience as an independent contractor for the Union Pacific Railroad.

He has also managed and operated a small restaurant. He has always planned to own his own business and realized, while working independently, that he needed the knowledge of business management that an MBA program could provide. Though the founding management members intend to take an active role in the operation of UAE, additional management will be sought out. UAE is open to assistance from experienced managers associated with venture capital providers. 6.

Jim Kemp| $30,000 | $30,000 | $30,000 | Loren Smith| $30,000 | $30,000 | $30,000 | Mountain Bike Trip Personnel| $70,000 | $150,000 | $170,000 | Heli-skiing Personnel| $120,000 | $170,000 | $200,000 | White-water Adventure Personnel| $70,000 | $125,000 | $155,000 | Secretary| $18,000 | $0 | $0 | Total People| 4| 19 | 19 | | | | | Total Payroll| $368,000 | $535,000 | $615,000 | | | | | 7. 0 Financial Plan The following subtopics will provide more financial information. 7. 1 Projected Cash Flow The following chart and table indicates projected cash flow.

Cash Received| | | | | | | | Cash from Operations| | | | Cash Sales| $600,000 | $960,000 | $1,120,000 | Subtotal Cash from Operations| $600,000 | $960,000 | $1,120,000 | | | | | Additional Cash Received| | | | Sales Tax, VAT, HST/GST Received| $0 | $0 | $0 | New Current Borrowing| $0 | $0 | $0 | New Other Liabilities (interest-free)| $0 | $0 | $0 | New Long-term Liabilities| $0 | $0 | $0 | Sales of Other Current Assets| $0 | $0 | $0 | Sales of Long-term Assets| $0 | $0 | $0 | New Investment Received| $0 | $0 | $0 | Subtotal Cash Received| $600,000 | $960,000 | $1,120,000 | | | | |

Expenditures| Year 1| Year 2| Year 3| | | | | Expenditures from Operations| | | | Cash Spending| $368,000 | $535,000 | $615,000 | Bill Payments| $168,145 | $245,468 | $305,745 | Subtotal Spent on Operations| $536,145 | $780,468 | $920,745 | | | | | Additional Cash Spent| | | | Sales Tax, VAT, HST/GST Paid Out| $0 | $0 | $0 | Principal Repayment of Current Borrowing| $0 | $0 | $0 | Other Liabilities Principal Repayment| $0 | $0 | $0 | Long-term Liabilities Principal Repayment| $0 | $0 | $0 | Purchase Other Current Assets| $0 | $0 | $0 | Purchase Long-term Assets| $0 | $0 | $0 | Dividends| $0 | $0 | $0 |

Subtotal Cash Spent| $536,145 | $780,468 | $920,745 | | | | | Net Cash Flow| $63,855 | $179,532 | $199,255 | Cash Balance| $108,455 | $287,987 | $487,243 | 7. 2 Important Assumptions See the following table for general assumptions. General Assumptions| | Year 1| Year 2| Year 3| Plan Month| 1| 2| 3| Current Interest Rate| 10. 00% | 10. 00% | 10.

00% | Long-term Interest Rate| 10. 00% | 10. 00% | 10. 00% | Tax Rate| 25. 42% | 25. 00% | 25.

42% | Other| 0 | 0 | 0 | 7. 3 Break-even Analysis This Break-even Analysis table and chart, below, project the figures for monthly sales break even. Break-even Analysis| | | | |

Monthly Revenue Break-even| $43,114 | | | Assumptions:| | Average Percent Variable Cost| 11% | Estimated Monthly Fixed Cost| $38,228 | 7. 4 Projected Profit and Loss The following table indicates the projected profit and loss. Pro Forma Profit and Loss| | Year 1| Year 2| Year 3| Sales| $600,000 | $960,000 | $1,120,000 | Direct Cost of Sales| $68,000 | $120,000 | $142,000 | Other| $0 | $0 | $0 | Total Cost of Sales| $68,000 | $120,000 | $142,000 | | | | | Gross Margin| $532,000 | $840,000 | $978,000 | Gross Margin %| 88. 67% | 87.

50% | 87. 32% | | | | | | | | | Expenses| | | | Payroll| $368,000 | $535,000 | $615,000 |

Sales and Marketing and Other Expenses| $21,000 | $0 | $0 | Depreciation| $4,332 | $4,332 | $4,332 | Leased Equipment| $0 | $0 | $0 | Utilities| $0 | $0 | $0 | Insurance| $4,800 | $4,800 | $4,800 | Rent| $5,400 | $5,400 | $5,400 | Payroll Taxes| $55,200 | $80,250 | $92,250 | Other| $0 | $0 | $0 | | | | | Total Operating Expenses| $458,732 | $629,782 | $721,782 | | | | | Profit Before Interest and Taxes| $73,268 | $210,218 | $256,218 | EBITDA| $77,600 | $214,550 | $260,550 | Interest Expense| $0 | $0 | $0 | Taxes Incurred| $17,825 | $52,555 | $65,122 | | | | | Net Profit| $55,443 | $157,664 | $191,096 | Net Profit/Sales| 9. 4% | 16. 42% | 17. 06% | 7. 5 Projected Balance Sheet The following table will indicate the projected balance sheet.

Pro Forma Balance Sheet| | Year 1| Year 2| Year 3| Assets| | | | | | | | Current Assets| | | | Cash| $108,455 | $287,987 | $487,243 | Other Current Assets| $0 | $0 | $0 | Total Current Assets| $108,455 | $287,987 | $487,243 | | | | | Long-term Assets| | | | Long-term Assets| $13,000 | $13,000 | $13,000 | Accumulated Depreciation| $4,332 | $8,664 | $12,996 | Total Long-term Assets| $8,668 | $4,336 | $4 | Total Assets| $117,123 | $292,323 | $487,247 | | | | | Liabilities and Capital| Year 1| Year 2| Year 3| | | | Current Liabilities| | | | Accounts Payable| $4,080 | $21,617 | $25,444 | Current Borrowing| $0 | $0 | $0 | Other Current Liabilities| $0 | $0 | $0 | Subtotal Current Liabilities| $4,080 | $21,617 | $25,444 | | | | | Long-term Liabilities| $0 | $0 | $0 | Total Liabilities| $4,080 | $21,617 | $25,444 | | | | | Paid-in Capital| $60,000 | $60,000 | $60,000 | Retained Earnings| ($2,400)| $53,043 | $210,706 | Earnings| $55,443 | $157,664 | $191,096 | Total Capital| $113,043 | $270,706 | $461,802 | Total Liabilities and Capital| $117,123 | $292,323 | $487,247 | | | | | Net Worth| $113,043 | $270,706 | $461,802 | . 6 Business Ratios Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) code 4725, Tour Operators, are shown for comparison. Ratio Analysis| | Year 1| Year 2| Year 3| Industry Profile| Sales Growth| 0. 00% | 60. 00% | 16.

67% | 4. 00% | | | | | | Percent of Total Assets| | | | | Other Current Assets| 0. 00% | 0. 00% | 0. 00% | 42.

80% | Total Current Assets| 92. 60% | 98. 52% | 100. 00% | 65. 80% | Long-term Assets| 7. 40% | 1.

48% | 0. 00% | 34. 20% | Total Assets| 100. 00% | 100. 00% | 100. 00% | 100.

00% | | | | | |

Current Liabilities| 3. 48% | 7. 39% | 5. 22% | 33. 10% | Long-term Liabilities| 0. 00% | 0.

00% | 0. 00% | 16. 40% | Total Liabilities| 3. 48% | 7. 39% | 5. 22% | 49.

50% | Net Worth| 96. 52% | 92. 61% | 94. 78% | 50. 50% | | | | | | Percent of Sales| | | | | Sales| 100.

00% | 100. 00% | 100. 00% | 100. 00% | Gross Margin| 88. 67% | 87.

50% | 87. 32% | 40. 10% | Selling, General ;amp; Administrative Expenses| 79. 51% | 71. 08% | 70. 16% | 30.

80% | Advertising Expenses| 0. 00% | 0. 00% | 0. 00% | 0. 80% | Profit Before Interest and Taxes| 12.

21% | 21. 90% | 22. 88% | 1. 20% | | | | | | Main Ratios| | | | |

Current| 26. 58 | 13.

32 | 19. 15 | 1. 66 | Quick| 26. 58 | 13. 32 | 19. 15 | 1.

29 | Total Debt to Total Assets| 3. 48% | 7. 39% | 5. 22% | 49. 50% | Pre-tax Return on Net Worth| 64.

81% | 77. 66% | 55. 48% | 2. 70% | Pre-tax Return on Assets| 62. 56% | 71.

91% | 52. 58% | 5. 30% | | | | | | Additional Ratios| Year 1| Year 2| Year 3| | Net Profit Margin| 9. 24% | 16. 42% | 17.

06% | n. a| Return on Equity| 49. 05% | 58. 24% | 41. 38% | n. a| | | | | | Activity Ratios| | | | | Accounts Payable Turnover| 42.

21 | 12. 17 | 12. 17 | n. a| Payment Days| 33 | 18 | 28 | n. a| Total Asset Turnover| 5. 12 | 3.

8 | 2. 30 | n. a| | | | | | Debt Ratios| | | | | Debt to Net Worth| 0. 04 | 0. 08 | 0. 06 | n.

a| Current Liab. to Liab. | 1. 00 | 1. 00 | 1. 00 | n.

a| | | | | | Liquidity Ratios| | | | | Net Working Capital| $104,375 | $266,370 | $461,798 | n. a| Interest Coverage| 0. 00 | 0. 00 | 0. 00 | n. a| | | | | | Additional Ratios| | | | | Assets to Sales| 0.

20 | 0. 30 | 0. 44 | n. a| Current Debt/Total Assets| 3% | 7% | 5% | n. a| Acid Test | 26.

58 | 13. 32 | 19. 15 | n. a| Sales/Net Worth| 5. 31 | 3. 55 | 2.

43 | n. a| Dividend Payout| 0. 00 | 0. 00 | 0. 00 | n.

a| | | | | | Appendix Sales Forecast| | Month 1| Month 2| Month 3| Month 4| Month 5| Month 6| Month 7| Month 8| Month 9| Month 10| Month 11| Month 12| Sales| | | | | | | | | | | | | | Heli-skiing| 0%| $0 | $0 | $0 | $0 | $0 | $120,000 | $0 | $0 | $120,000 | $120,000 | $0 | $0 | White-water Rafting| 0%| $0 | $0 | $0 | $0 | $0 | $0 | $0 | $70,000 | $0 | $70,000 | $0 | $0 | Mountain Biking| 0%| $0 | $0 | $0 | $0 | $0 | $0 | $50,000 | $50,000 | $0 | $0 | $0 | $0 | Other| 0%| $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Total Sales| | $0 | $0 | $0 | $0 | $0 | $120,000 | $50,000 | $120,000 | $120,000 | $190,000 | $0 | $0 | | | | | | | | | | | | | | |

Direct Cost of Sales| | Month 1| Month 2| Month 3| Month 4| Month 5| Month 6| Month 7| Month 8| Month 9| Month 10| Month 11| Month 12| Heli-skiing| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | White-water Rafting| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $20,000 | $0 | $20,000 | $0 | $0 | Mountain Biking| | $0 | $0 | $0 | $0 | $0 | $0 | $14,000 | $14,000 | $0 | $0 | $0 | $0 | Other| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Subtotal Direct Cost of Sales| | $0 | $0 | $0 | $0 | $0 | $0 | $14,000 | $34,000 | $0 | $20,000 | $0 | $0 | Personnel Plan| | Month 1| Month 2| Month 3| Month 4| Month 5| Month 6| Month 7| Month 8| Month 9| Month 10| Month 11| Month 12| Mike Hurley| 0%| $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | Jim Kemp| 0%| $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | Loren Smith| 0%| $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | $2,500 | Mountain Bike Trip Personnel| 0%| $0 | $0 | $0 | $0 | $0 | $0 | $35,000 | $35,000 | $0 | $0 | $0 | $0 | Heli-skiing Personnel| 0%| $0 | $0 | $0 | $0 | $0 | $40,000 | $0 | $0 | $40,000 | $40,000 | $0 | $0 | White-water Adventure Personnel| 0%| $0 | $0 | $0 | $0 | $0 | $0 | $0 | $35,000 | $0 | $35,000 | $0 | $0 | Secretary| 0%| $0 | $0 | $0 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | Total People| | 3 | 3 | 3 | 4 | 4 | 9 | 9 | 14 | 9 | 14 | 4 | 4 | | | | | | | | | | | | | | | Total Payroll| | $7,500 | $7,500 | $7,500 | $9,500 | $9,500 | $49,500 | $44,500 | $79,500 | $49,500 | $84,500 | $9,500 | $9,500 | General Assumptions| | Month 1| Month 2| Month 3| Month 4| Month 5| Month 6| Month 7| Month 8| Month 9| Month 10| Month 11| Month 12| Plan Month| | 1| 2| 3| 4| 5| 6| 7| 8| 9| 10| 11| 12| Current Interest Rate| | 10. 00% | 10. 00% | 10. 00% | 10. 00% | 10.

00% | 10. 00% | 10. 00% | 10. 00% | 10. 00% | 10.

00% | 10. 00% | 10. 00% | Long-term Interest Rate| | 10. 00% | 10. 00% | 10. 00% | 10.

00% | 10. 00% | 10. 00% | 10. 00% | 10. 00% | 10.

00% | 10. 00% | 10. 00% | 10. 00% | Tax Rate| | 30. 00% | 25. 00% | 25. 00% | 25. 00% | 25. 00% | 25. 00% | 25. 00% | 25. 00% | 25. 00% | 25. 00% | 25. 00% | 25. 00% | Other| | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Pro Forma Profit and Loss| | Month 1| Month 2| Month 3| Month 4| Month 5| Month 6| Month 7| Month 8| Month 9| Month 10| Month 11| Month 12| Sales| | $0 | $0 | $0 | $0 | $0 | $120,000 | $50,000 | $120,000 | $120,000 | $190,000 | $0 | $0 | Direct Cost of Sales| | $0 | $0 | $0 | $0 | $0 | $0 | $14,000 | $34,000 | $0 | $20,000 | $0 | $0 | Other| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Total Cost of Sales| | $0 | $0 | $0 | $0 | $0 | $0 | $14,000 | $34,000 | $0 | $20,000 | $0 | $0 | | | | | | | | | | | | | | | Gross Margin| | $0 | $0 | $0 | $0 | $0 | $120,000 | $36,000 | $86,000 | $120,000 | $170,000 | $0 | $0 | Gross Margin %| | 0. 00% | 0. 00% | 0. 00% | 0. 00% | 0. 00% | 100. 00% | 72. 00% | 71. 67% | 100. 00% | 89. 47% | 0. 00% | 0. 00% | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Expenses| | | | | | | | | | | | | | Payroll| | $7,500 | $7,500 | $7,500 | $9,500 | $9,500 | $49,500 | 44,500 | $79,500 | $49,500 | $84,500 | $9,500 | $9,500 | Sales Marketing and Other Expenses| | $0 | $0 | $0 | $0 | $0 | $5,000 | $1,500 | $3,000 | $5,000 | $6,500 | $0 | $0 | Depreciaton| | $361 | $361 | $361 | $361 | $361 | $361 | $361 | $361 | $361 | $361 | $361 | $361 | Leased Equipment| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Utilities| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Insurance| | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | Rent| | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | Payroll Taxes| 15% | $1,125 | $1,125 | $1,125 | $1,425 | $1,425 | $7,425 | $6,675 | $11,925 | $7,425 | $12,675 | $1,425 | $1,425 | Other| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | | | | | | | | | | | | | | | Total Operating Expenses| | $9,836 | $9,836 | $9,836 | $12,136 | $12,136 | $63,136 | $53,886 | $95,636 | $63,136 | $104,886 | $12,136 | $12,136 | | | | | | | | | | | | | | |

Profit Before Interest and Taxes| | ($9,836)| ($9,836)| ($9,836)| ($12,136)| ($12,136)| $56,864 | ($17,886)| ($9,636)| $56,864 | $65,114 | ($12,136)| ($12,136)| EBITDA| | ($9,475)| ($9,475)| ($9,475)| ($11,775)| ($11,775)| $57,225 | ($17,525)| ($9,275)| $57,225 | $65,475 | ($11,775)| ($11,775)| Interest Expense| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Taxes Incurred| | ($2,951)| ($2,459)| ($2,459)| ($3,034)| ($3,034)| $14,216 | ($4,472)| ($2,409)| $14,216 | $16,279 | ($3,034)| ($3,034)| | | | | | | | | | | | | | | Net Profit| | ($6,885)| ($7,377)| ($7,377)| ($9,102)| ($9,102)| $42,648 | ($13,415)| ($7,227)| $42,648 | $48,836 | ($9,102)| ($9,102)| Net Profit/Sales| | 0. 00% | 0. 00% | 0. 00% | 0. 00% | 0. 00% | 35. 54% | -26. 3% | -6. 02% | 35. 54% | 25. 70% | 0. 00% | 0. 00% | Pro Forma Cash Flow| | | Month 1| Month 2| Month 3| Month 4| Month 5| Month 6| Month 7| Month 8| Month 9| Month 10| Month 11| Month 12| Cash Received| | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash from Operations| | | | | | | | | | | | | | Cash Sales| | $0 | $0 | $0 | $0 | $0 | $120,000 | $50,000 | $120,000 | $120,000 | $190,000 | $0 | $0 | Subtotal Cash from Operations| | $0 | $0 | $0 | $0 | $0 | $120,000 | $50,000 | $120,000 | $120,000 | $190,000 | $0 | $0 | | | | | | | | | | | | | | | Additional Cash Received| | | | | | | | | | | | | | Sales Tax, VAT, HST/GST Received| 0. 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | New Current Borrowing| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | New Other Liabilities (interest-free)| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | New Long-term Liabilities| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Sales of Other Current Assets| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Sales of Long-term Assets| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | New Investment Received| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Subtotal Cash Received| | $0 | $0 | $0 | $0 | $0 | $120,000 | $50,000 | $120,000 | $120,000 | $190,000 | $0 | $0 | | | | | | | | | | | | | | | Expenditures| | Month 1| Month 2| Month 3| Month 4| Month 5| Month 6| Month 7| Month 8| Month 9| Month 10| Month 11| Month 12| | | | | | | | | | | | | | | Expenditures from Operations| | | | | | | | | | | | | | Cash Spending| | $7,500 | $7,500 | $7,500 | $9,500 | $9,500 | $49,500 | $44,500 | $79,500 | $49,500 | $84,500 | $9,500 | $9,500 | Bill Payments| | ($976)| ($1,427)| ($952)| ($1,227)| ($1,493)| $183 | $27,193 | $19,514 | $46,704 | $28,451 | $53,668 | ($1,493)| Subtotal Spent on Operations| | $6,524 | $6,073 | $6,548 | $8,273 | $8,007 | $49,683 | $71,693 | $99,014 | $96,204 | $112,951 | $63,168 | $8,007 | | | | | | | | | | | | | | |

Additional Cash Spent| | | | | | | | | | | | | | Sales Tax, VAT, HST/GST Paid Out| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Principal Repayment of Current Borrowing| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Other Liabilities Principal Repayment| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Long-term Liabilities Principal Repayment| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Purchase Other Current Assets| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Purchase Long-term Assets| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Dividends| | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Subtotal Cash Spent| | $6,524 | $6,073 | $6,548 | $8,273 | $8,007 | $49,683 | $71,693 | $99,014 | $96,204 | $112,951 | $63,168 | $8,007 | | | | | | | | | | | | | | | Net Cash Flow| | ($6,524)| ($6,073)| ($6,548)| ($8,273)| ($8,007)| $70,317 | ($21,693)| $20,986 | $23,797 | $77,049 | ($63,168)| ($8,007)| Cash Balance| | $38,076 | $32,003 | $25,455 | $17,182 | $9,175 | $79,492 | $57,799 | $78,785 | $102,581 | $179,630 | $116,462 | $108,455 | Pro Forma Balance Sheet| | Month 1| Month 2| Month 3| Month 4| Month 5| Month 6| Month 7| Month 8| Month 9| Month 10| Month 11| Month 12| Assets| Starting Balances| | | | | | | | | | | | | | | | | | | | | | | | | | | Current Assets| | | | | | | | | | | | | | Cash| $44,600 | $38,076 | $32,003 | $25,455 | $17,182 | $9,175 | $79,492 | $57,799 | $78,785 | $102,581 | $179,630 | $116,462 | $108,455 | Other Current Assets| $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Total Current Assets| $44,600 | $38,076 | $32,003 | $25,455 | $17,182 | $9,175 | $79,492 | $57,799 | $78,785 | $102,581 | $179,630 | $116,462 | $108,455 | | | | | | | | | | | | | | | Long-term Assets| | | | | | | | | | | | | |

Long-term Assets| $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | Accumulated Depreciation| $0 | $361 | $722 | $1,083 | $1,444 | $1,805 | $2,166 | $2,527 | $2,888 | $3,249 | $3,610 | $3,971 | $4,332 | Total Long-term Assets| $13,000 | $12,639 | $12,278 | $11,917 | $11,556 | $11,195 | $10,834 | $10,473 | $10,112 | $9,751 | $9,390 | $9,029 | $8,668 | Total Assets| $57,600 | $50,715 | $44,281 | $37,372 | $28,738 | $20,370 | $90,326 | $68,272 | $88,897 | $112,332 | $189,020 | $125,491 | $117,123 | | | | | | | | | | | | | | | Liabilities and Capital| | Month 1| Month 2| Month 3| Month 4| Month 5| Month 6| Month 7| Month 8| Month 9| Month 10| Month 11| Month 12| | | | | | | | | | | | | | |

Current Liabilities| | | | | | | | | | | | | | Accounts Payable| $0 | $0 | $943 | $1,411 | $1,879 | $2,613 | $29,921 | $21,281 | $49,134 | $29,921 | $57,773 | $3,346 | $4,080 | Current Borrowing| $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Other Current Liabilities| $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Subtotal Current Liabilities| $0 | $0 | $943 | $1,411 | $1,879 | $2,613 | $29,921 | $21,281 | $49,134 | $29,921 | $57,773 | $3,346 | $4,080 | | | | | | | | | | | | | | | Long-term Liabilities| $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | Total Liabilities| $0 | $0 | $943 | $1,411 | $1,879 | $2,613 | $29,921 | $21,281 | $49,134 | $29,921 | $57,773 | $3,346 | $4,080 | | | | | | | | | | | | | | |

Paid-in Capital| $60,000 | $60,000 | $60,000 | $60,000 | $60,000 | $60,000 | $60,000 | $60,000 | $60,000 | $60,000 | $60,000 | $60,000 | $60,000 | Retained Earnings| ($2,400)| ($2,400)| ($2,400)| ($2,400)| ($2,400)| ($2,400)| ($2,400)| ($2,400)| ($2,400)| ($2,400)| ($2,400)| ($2,400)| ($2,400)| Earnings| $0 | ($6,885)| ($14,262)| ($21,639)| ($30,741)| ($39,843)| $2,805 | ($10,610)| ($17,837)| $24,811 | $73,647 | $64,545 | $55,443 | Total Capital| $57,600 | $50,715 | $43,338 | $35,961 | $26,859 | $17,757 | $60,405 | $46,990 | $39,763 | $82,411 | $131,247 | $122,145 | $113,043 | Total Liabilities and Capital| $57,600 | $50,715 | $44,281 | $37,372 | $28,738 | $20,370 | $90,326 | $68,272 | $88,897 | $112,332 | $189,020 | $125,491 | $117,123 | | | | | | | | | | | | | | |

Net Worth| $57,600 | $50,715 | $43,338 | $35,961 | $26,859 | $17,757 | $60,405 | $46,990 | $39,763 | $82,411 | $131,247 | $122,145 | $113,043 | References for the Outdoor Industry Sports Recreation Guide Services have the NAICS (North American Industry Classification System) code of 713990. The NAICS definition of a sports recreation guide services are establishments (except amusement parks and arcades; gambling industries; golf courses and country clubs; skiing facilities; marinas; fitness and recreational sports centers; and bowling centers) primarily engaged in providing recreational and amusement services, such as Fishing Guides, White-water Rafting, Parasailing, Hang Gliding, and Water Skiing. Closely related are: Establishments primarily engaged in arranging and assembling adventure tours are classified in Sector 561520, Tour Operators * Independent athletes engaged in providing sports instruction without participating in sporting events before a paying audience are classified in Industry 611620, Sports and Recreation Instruction * Establishments primarily engaged in operating instructional camps, such as sports camps, fine arts camps, and computer camps, are classified in Sector 61, Educational Services, based on the nature of instruction * Books * AMC Guide to Outdoor Leadership Author Alex Kosseff fuses his own extensive leadership experience with that of acclaimed experts as he details the critical skills and concepts every outdoor leader needs to know. * Conducting Tours: A Practical Guide

Information about guiding, escorting, and tour planning. * Effective Leadership in Adventure Programming Reviews technical competencies that outdoor leaders should possess and provides general safety and environmental guidelines they should follow. * Outside Adventure Travel: Mountain Biking The best fat-tire, single-track experiences worldwide from Outside Magazine. * Outside Adventure Travel: Trekking The authors rate each expedition in terms of its difficulty, required skills, comfort, and cost. Specific routes are described in detail, as are reliable tour operators, outfitters, and local guides. * The Professional Guide: Dynamics of Tour Guiding

Techniques and management of conducting tours. * Sport and Adventure Tourism A foundation of the field for potential practitioners of sport tourism as industry. * Sport Tourism A look at the way sports tourism is administered in countries around the world. * Start and Run a Profitable Tour Guiding Business How to develop tours to your favorite destination and outline the planning you must do. * Start Your Own Specialty Travel ;amp; Tour Business A step-by-step guide from Entrepreneur Press. * Ultimate Adventure: National Geographic Ultimate Adventure Sourcebook The ultimate experiences in 25 categories of adventure worldwide. * Wilderness Medical Associates Field Guide

A list of topics covering the major medical emergencies you may encounter when dialing 911 is not an option. * Magazines * Adventure Cyclists Feature accounts of bicycle journeys of discovery across the United States and around the globe, Adventure Cyclist continues to bring insightful stories and essays, as well as inspiring photographs, to its readers from a wide variety of talented bicyclists. * Adventure Travel Covers a wide range of destinations, activities, and locations, and includes information on guides, captains, resorts, and booking agents. * Backpacker A magazine for experienced hikers, backpackers ;amp; outdoor enthusiasts. Presents articles on travel, natural science ;amp; equipment. * Boundary Waters Journal

Topics includ canoe routes, camping, fishing, resort/cabin vacations, hiking, hunting, photography, cross country skiing, wildlife, conservation and resource management, equipment field test reviews, outdoor cooking, area history, regional lifestyles and personalities, and fictional essays. * Camping For professionals working with youth and adult camps and outdoor programming. Includes practical articles and applicable academic research on camp management, staffing and programming, camper development, environmental and legislative issues. * Canoe and Kayak Delivers information on equipment, apparel ;amp; services, what’s new on the market, and where to find the best places to paddle. * International Travel News For the high-frequency international traveler.

Airlines cruises, trains, lodging, bargains, information, feature articles, tips from subscribers on where and how to go. * Mountain Bike Action Covers everything about this growing sport, such as fitness issues, technical information, and information about the pure fun of off-road riding. * National Geographic Adventure A new magazine from National Geographic, geared for a generation of active men and women who seek new ;amp; challenging ways to explore and experience the world. Adventure offers an exciting mix of great photography, features and service articles, written for readers with multiple interests and varying skill levels. * National Parks

Articles about national parks ;amp; wildlife, environmental hazards and conservationist issues. * Outside For those who lead active year-round lifestyles. In addition to feature articles devoted to outdoor activity, it contains photography and literary pieces by award-winning photographers and writers. Also covers travel, sports, adventure, people, politics, the environment, art, literature. * Rock and Ice Offers coverage of the entire mountain scene, from rock and ice climbing to alpine ascents in the Himalaya. Also covers other outdoor adventures, such as ballooning, trekking and mountaineering. * Sea Kayaker An invaluable resource for novice ;amp; experienced kayakers.

Every issue covers destinations, navigation of coastal and inland waters, safety, technique, and the latest in kayaks ;amp; gear. Focuses on the promotion of kayaking that insures the safety of the paddler and of the fragile marine environment. Professional Resources * Adventure Business Consultants Tourism marketing and business resources for adventure travel business and ecotourism industry professionals. * Adventure Cycling Association Adventure Cycling is America’s bicycle travel inspiration and resource, offering many programs for cyclists, including a national network of bicycle touring routes and organized trips. * Adventure Sports Online

A single source for all the services and support that a company will require to establish a successful presence on the Internet and to successfully market and distribute products and services to the outdoor enthusiast. * Adventure Travel Society Promotes the adventure travel industry and the management of natural and cultural resources worldwide. A primary goal of the Adventure Travel Society is to keep abreast, through definition and market research and analysis, the constant changes and current trends of our dynamic industry. They offers many services including an international professional trade membership, the Adventure Travel Trade Association. * United States Tour Operator Association

A professional association representing the tour operator industry. They are composed of companies whose tours and packages encompass the entire globe and who conduct business in the U. S. References and Citations Outdoor Foundation; 2006-2009 Report on the Outdoor Recreation Industry Outdoor Industry Foundation; 2009 Special Report on the Paddlesports Industry Colorado Tourism Industry Report on 2008 United Sates Tourism Industry Association Report on Adventure Travel 2008 Hospitality Career Network Small Business Association Industry Report on Travel and Tourism Forbes Magazine HVS Consulting and Valuation Services Travel and Tourism Market Alliance

A Business Plan for and Adventure Recreation Company

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