Skip to main content
Select Source:

nursery

nursery, in horticulture, an establishment or area for the propagation, breeding, and early cultivation of plants. In North America the term nursery originally specified a place where hardy woody plants, especially fruit trees, were started; but as the market for and interest in new varieties of garden plants increased, nurseries broadened their province to include the cultivation and development of all types of plants, including tropical varieties and annuals, and their sale either as seedlings ready for planting or as seeds. Until the advent of artificial irrigation and the use of vast greenhouses to control temperature, nurseries depended on natural conditions for success—as did the bulb nurseries of Holland, which were long famous for flowers and ornamental plants.

The modern nursery, staffed by horticulture experts and equipped with facilities for both experimental and mass production, supplies home gardeners, flower and fruit growers, farmers, and foresters with seeds and seedlings of specified qualities. Under nursery conditions varieties of plants have been bred that have greater yields and are hardier, longer blooming, and more disease resistant than those grown in the ordinary farm or garden, where controlled selection and hybridization is usually impractical (see plant breeding). Grafting and budding are also commonly used by nurseries to produce superior plants, and some plants are now propagated from cells grown in a sterile medium.

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"nursery." The Columbia Encyclopedia, 6th ed.. . Encyclopedia.com. 18 Aug. 2017 <http://www.encyclopedia.com>.

"nursery." The Columbia Encyclopedia, 6th ed.. . Encyclopedia.com. (August 18, 2017). http://www.encyclopedia.com/reference/encyclopedias-almanacs-transcripts-and-maps/nursery

"nursery." The Columbia Encyclopedia, 6th ed.. . Retrieved August 18, 2017 from Encyclopedia.com: http://www.encyclopedia.com/reference/encyclopedias-almanacs-transcripts-and-maps/nursery

Nursery

Nursery

BUSINESS PLAN     WONDERLAND NURSERY


416 S. Turner Street
Spokane, Washington 99204


This plan outlines how this business will provide Spokane with a specialty nursery and garden center that is stylish, respected, and consistent, and which is intelligently staffed with caring and well-informed employees. An unusual feature of this nursery is its café. This plan was provided by Ameriwest Business Consultants, Inc.


  • executive summary
  • objectives & goals, and strategies for achieving them
  • business description, status, & outlook
  • management & ownership
  • the service (an unfilled need) & uniqueness of service
  • market analysis
  • marketing strategies
  • financial plans

EXECUTIVE SUMMARY

BUSINESS DESCRIPTION

The purpose of Wonderland Nursery is to provide Spokane with a nursery and garden center that is stylish, respected, and consistent, and which is intelligently staffed with caring and well-informed employees. The atmosphere is friendly and open. The nursery displays a new attitude. It treats customers like first-class citizens and tries to make them feel like they are at home. On the premises will also be a café to help our customers extend and enhance their visit to our premises. We offer a variety of related items such as pottery, specialty decorations, etc. The facility has a first-rate greenhouse. The services are offered at a competitive price and pricing will be reviewed periodically.

The nursery is normally open Monday, Tuesday, Wednesday, Thursday, Friday, and Saturday, from 9:00 A.M. through 5:00 P.M., and 10:00 A.M. to 4:00 P.M. on Sunday. The café hours are 9:00 A.M. to 5:00 P.M., Monday through Wednesday, 9:00 A.M. through 8:00 P.M. on Thursday through Saturday, and from 10:00 A.M. to 4:00 P.M. on Sunday.

CURRENT POSITION AND FUTURE OUTLOOK

The business is in a restructure mode. It is currently past due on its mortgage payment. Plans call for infusion of new investment in the amount of approximately $275,000 and a new loan of $800,000. Operations are conducted on a 5-acre site, located at 416 S. Turner Street, Spokane, Washington. On the average we serve from 10,000 to 12,000 customers per year. With new funding we plan to increase this amount by at least 15% per year in the future. This is a conservative estimate considering the past year saw a 25% increase in sales. To attain these goals we will use a combination of media advertising, flyers, and word-of mouth. Upon securing the new funding, the future appears very bright. The customers are there, the experience and ability are there, and with a restructure of the organization we are convinced the profit would be there. The café will only get better in its second full year of operation.

MANAGEMENT AND OWNERSHIP

The company is set up as a corporation with Susan Smyth and her husband Robert owning 100% of all outstanding stock. Susan serves as president, chief executive officer, and manager. She provides the leadership to run this company. She has over 5 years of experience as owner and operator of a nursery. Her retail sales background will continue to provide the guiding light for the operation. Susan oversees the entire operation and concentrates on advertising, legal matters, banking, insurance, purchasing, equipment purchases, public relations, and labor. Robert Smyth serves as treasurer and handles all maintenance and development. Helen Brown, office manager, handles sales, display, and backs up Susan in banking, purchasing, and planning. The business employs up to ten additional employees. These employees will be involved in cooking in the café, waiting on tables, and working as laborers. They will be a combination of part-time and full-time. When volume picks up, additional part-time or full-time employees will be hired as the workload requires. Ameriwest Business Consultants, Inc. will provide help in additional areas such as planning and general business advising when necessary and to supplement Susan's overall business knowledge. The services of an accountant, attorney, and a qualified insurance agent have been retained.

UNIQUENESS AND DIFFERENTIATION OF THE SERVICE

Wonderland Nursery is a specialty nursery and provides the ultimate in service and advice to customers. We tend to appeal to upper-end clientele, serious gardeners, and gardening professionals. Nowhere else in Washington does an operation combine the services of a nursery along with those of a café.

The idea of nursery and café is to provide customers with a informal, social setting, and atmosphere that does not exist in this part of the state. In addition we will cater to private parties and special groups in the café throughout the year.

The growth potential is virtually unlimited for the greater Spokane, Washington, area. The population is growing at an accelerated rate. It is rare in today's business world to find a true market void. That is exactly what Wonderland Nursery has done. It is a nursery along with a café for nursery customers and others in the community. Our facility has little true competition in Spokane.

FUNDS REQUIRED AND USAGE

Restructuring expenses will be approximately $1,075,0000. New investors will furnish approximately $275,000, and a new loan will furnish the balance of $800,000 in new funding.

The new funding will be used as follows: A) $1,000,000 to repay existing debt, B) $20,000 for paving, C) $5,000 for irrigation improvements, D) $10,000 in new inventory, E) $40,000 for reserves and miscellaneous expenses. The paving will make the property much more attractive to both nursery and café customers. The irrigation will save labor and cut losses. The inventory will bring in new customers and help even out the cash flow throughout the year.

PROJECTED 5-YEAR INCOME STATEMENT SUMMARY

(MOST LIKELY CASE)
Projected 1999 Projected 2000 Projected 2001 Projected 2002 Projected 2003
Total Revenue 933,000 1,072,350 1,232,589 1,416,847 1,628,727
Cost of Sales 514,229 591,364 680,068 782,079 899,390
Gross Profit 418,771 480,986 552,521 634,768 729,337
Selling, General, Expense 344,137 371,264 402,338 437,939 478,734
Income Before Taxes 74,634 109,722 150,183 196,829 250,603
Income Taxes 17,390 30,347 45,317 62,577 82,473
INCOME AFTER TAXES 57,244 79,375 104,866 134,252 168,130
(OPTIMISTIC CASE)
Total Revenue 1,119,600 1,286,820 1,479,107 1,700,216 1,954,472
Cost of Sales 617,075 709,637 816,082 938,495 1,079,268
Gross Profit 502,525 577,183 663,025 761,722 875,204
Selling, General, Expense 412,964 445,517 482,806 525,527 574,481
Income Before Taxes 89,561 131,666 180,220 236,195 300,724
Income Taxes 20,868 36,416 54,380 75,092 98,968
INCOME AFTER TAXES 68,693 95,250 125,839 161,102 201,756
(PESSIMISTIC CASE)
Projected 1999 Projected 2000 Projected 2001 Projected 2002 Projected 2003
Total Revenue 746,400 857,880 986,071 1,133,478 1,302,982
Cost of Sales 411,383 473,091 544,054 625,663 719,512
Gross Profit 335,017 384,789 442,017 507,814 583,470
Selling, General, Expense 275,310 297,011 321,870 350,351 382,987
Income Before Taxes 59,707 87,778 120,146 157,463 200,482
Income Taxes 13,912 24,278 36,254 50,062 65,978
INCOME AFTER TAXES 45,795 63,500 83,893 107,402 134,504

Notes:

  1. The most likely case assumes 11,000 customers the first year after the restructuring. The optimistic case assumes revenues and expenses will increase 15% over the most likely case. The pessimistic case assumes revenues and expenses will decrease 15% below the most likely case above.
  2. Cost of goods sold for the nursery will equal 55% of sales and 35% for the cafe.

OBJECTIVES & GOALS, AND STRATEGIES FOR ACHIEVING THEM

  1. To provide a high quality service so that customers will perceive great value and give them the opportunity to interact with our professional staff.
  2. To service an average of 12,000 customers in 1999 and increase that by about 15% over the next four years.
  3. To repay the entire loan amount by the end of the fifteenth year and to provide the shareholders with an exceptionally stable income.
  4. Our goal is to become the premier nursery destination in Spokane, Washington, during the next two years.
  5. Wonderland Nursery plans to closely monitor changing technology to be certain that the company is using the latest and most cost effective equipment and that it keeps up with current trends in the marketplace.

When growth has stabilized we plan to add extra services for customer convenience such as organic produce, greater selection of products, especially seasonal, and continued growth of the food operations. In addition to the above goals we will survey our customers and make changes in our programs and add services to meet their changing ideas in the marketplace.

To obtain the first two sets of goals we will try to maximize sales with an extensive campaign to promote our services. We will utilize the radio stations and newspaper along with brochures, media advertising, pamphlets, use of coupons, referrals, and a variety of other advertising and marketing tools to reach the customer base of Spokane, Washington. We expect to flood the market with advertising until consumers become aware of us and more comfortable with our company. As we grow, word-of-mouth referrals will bring in increasing numbers of customers and we will reduce our reliance on advertising.

The dominant driving force behind our company will be profit and income and to provide the best possible related products and service.

To become the premier nursery in Spokane, Washington, we will offer outstanding quality, good hours, exceptional service, and reasonable pricing. We will listen to our customers and conduct surveys.

We will offer frequent user discounts. In the future we may consider diversification and enter new market areas such as providing organic produce.

BUSINESS DESCRIPTION, STATUS, & OUTLOOK

According to the Nursery Retailer, lawn and garden sales nationwide are expected to top $83 billion in 1999. Of this total, nearly $1 billion will be in Washington. In 1998, lawn and garden sales showed its first slow-down in growth since 1968. Even so, sales still topped the 1997 levels. Most experts attribute this aberrant downturn to one reason, namely El Nino. This year's growth rates are expected to return to normal levels of around 6% to 9%. With Spokane's exploding growth in population that has occurred during the last decade, local nursery sales should continue to be well in excess of national averages. In fact, when most nurseries experienced a flat growth rate in 1998, Wonderland Nursery experienced a 25% growth in sales.

Wonderland Nursery is a full service nursery and combines entertainment and limited dining at a competitive price. We have a bigger selection of products, more specialized plant selection and offer a much higher level of service than do our competitors. We try to promote an atmosphere that gives people a comfortable place to spend their time and money. Combining a nursery with a café is a relatively new concept for this part of the country. Susan Smyth will continue to operate the business as a corporation. The principal shareholders will be Susan and her husband. New investors will be brought on board and will assume up to a 49% share in ownership. With our new equipment, inventory selections, and property improvements we will also have definite market advantages. Ultimately, we will expand the business to achieve its full potential.

The biggest problem we face is restructuring the operation to give us the time and money needed to fully implement our plans and achieve our goals.

To maintain operations, the business maintains a nursery license, scale license, seed dealers license, health license, occupational use license, and sales tax license.

The future holds the promise for almost unlimited growth and income as the business matures and considers other markets and products. Complementary products such as organic produce, water gardening, newsletter, additional seasonal products, dances, and other functions at the café also can be considered in the future in response to customer surveys indicating their wants and needs. Enhanced food services will be offered in the future as the needs are demonstrated.

MANAGEMENT & OWNERSHIP

Susan Smyth once was a gardener for upper-class clients. She used this experience to develop Wonderland Nursery. The business was successful until the lease was lost on its original location. This precipitated a move to our present location. The move caused us to open grossly undercapitalized. We have managed to survive the past couple of years, but the restructuring we are planning will put us over the top toward achieving our full potential.

Wonderland Nursery will supplement its skills by using outside consultants in areas such as legal work, income tax preparation, insurance, and general business advising.

The business was set up as a corporation primarily for liability reasons and makes it easier to secure investors. To continue operation, as many as thirteen full-and part-time employees will be utilized to help in areas such as bartending, waiting on tables, and for labor. As the business grows, additional part-time or full-time employees may be added to handle the increased workload.

THE SERVICE (AN UNFILLED NEED) & UNIQUENESS OF THE SERVICE

The growth in families in Washington state is the ninth greatest in the country. The past decade has seen this segment of the population grow by more than thirty percent. It is growing five and a half times as fast as the general population.

The few existing nurseries that cater to our clientele are not nearly as knowledgeable or service oriented. They pay little attention to detail and customer satisfaction. Wonderland Nursery and its ownership will embrace the concept of trying to become a focal point for our clientele.

The timing for such a business is perfect. Given the proper kind of financial restructuring, a significant window of opportunity exists for Wonderland Nursery to take advantage of the huge growth of the area. This business will be providing the "Right Service at the Right Time."

It is rare in today's world that a true market void exists. Our service will meet the "unfilled need" described above by providing customers with competitively priced, high service nursery facilities combined with the services of a café on the premises. We are unique to Spokane, and indeed all of Washington.

Customers will be attracted to the nursery because our atmosphere, pricing, and facilities. They will be made to feel welcome and as part of the family.

Some major advantages Wonderland Nursery will have over potential competition and conventional nurseries are:

  • Larger and newer facility
  • Lower operating expenses than most
  • Full service café on site (new concept)
  • Location
  • 6,000 name mailing list
  • Wonderland Nursery will sponsor ethnic festivals and holidays

MARKET ANALYSIS

MARKET OVERVIEW, SIZE, AND SEGMENTS

This market segment has been relatively stable over the past five years.

The market areas we will concentrate on are Central and Western Spokane, Washington. These areas have been growing rapidly for the past several years and should continue for the foreseeable future. Once the concept catches on locally, we feel the potential is unlimited. As we grow we will have the financial capacity to carry on an advertising campaign on a regional basis.

The economy is in the midst of a particularly strong growth period. Many new jobs are being added to the local community. Ever increasing numbers of Californians are coming to this location. All of these factors are cause for a much greater interest in nurseries. All of this activity can only help our attempts to restructure this nursery.

Listed below are just some of the reasons that the Spokane, Washington, area is growing and why it is a good time to be running any kind of business that caters to this growth:

  • The local economy is booming and virtually busting at the seams.
  • Spokane, Washington, has become a magnet for religious organizations. More than 65 nationally based Christian organizations are headquartered here.
  • Spokane, Washington, has a new airport and a nearby Free Trade Enterprise Zone that should grow and attract even more new businesses.
  • The new Seattle Airport is open and provides an economic boost to the entire state, including Spokane, Washington.
  • Gambling in nearby Oregon continues to draw many visitors and some new businesses.
  • Every week, we see articles in the newspapers of California residents and companies relocating here.
  • The world-renowned Five Star Hotel has completed an extensive remodeling.
  • MCI and Quantum Electronics are undergoing large increases in their operations here that should add many hundreds of employees.
  • Many experts predict Spokane, Washington, will become the second fastest growing city in the state between now and the year 2007.
  • King County is predicted to become the largest county in the state by the year 2003.
  • The local economy is now more diversified than it was when troubles occurred in the local economy in the late 1980s and early 1990s.

The estimated population of King County in 1999 is 500,000 people. The number of households is approaching 200,000. Currently, this market is growing at an annual rate of 3-5%. Projections see this trend continuing for the balance of this decade.

From the above figures it can readily be seen that the potential market for our services is huge. We feel with our pricing and value we will become a price and industry leader within two years.

CUSTOMER PROFILE

Our surveys have shown the following mix of patrons for our facilities:

  • Majority are women
  • Income of typical customers is in the $50,000 and up range
  • Large numbers of professional gardeners
  • Range of age of clientele is 35-75
  • Majority of patrons are in the upper-income brackets
  • Majority of our customers come from the 12345, 12346, 12347, 12348, and 12349 Zip code areas

Beyond the local market we could eventually tap into a more regional market. The advantage of our service is that it could appeal to all segments of the community. By expanding the role of the café, we can continue to become an even greater focal point for the local community.

COMPETITION

Our primary competition is the nurseries listed below. On a limited basis there are few competitors such as nurseries, landscapers, and related businesses.

The following table summarizes the local competition:

Competitor
Name
Strengths Weaknesses
Handles Nursery
1004 N. Main
Well established
Good local support
Well maintained
Brings in popular brands
Potential to expand
Owner well known in area
Serves large portion of Mexican
population
Dirty and has bad smell
Filthy & small restrooms
Poor security
Allow underage patrons
Poor facilities/
maintenance
Lack of parking
Figures Nursery
1000 E. State
Good location
Good local support
Owner prominent in Hispanic
community
Always filthy
Outdated facilities
Failure to keep up with
recent trends
Gardners Palace
2815 Warner
Newly remodeled
Sufficient parking
Fair neighborhood
Specialty nursery
New owner
Caters to upper class
Location is hard to find
Very small
Unfriendly personnel
No amenities

The marketplace is currently shared by the above outlined 3 major participants. This market is stable and increasing about 5-7% per year.

The driving force behind Wonderland Nursery is Susan Smyth. She has able support from her husband, Robert, and from Helen Brown, office manager, and Nancy White, file manager.

Risk Analysis

RATINGS
ELEMENT LOW MEDIUM HIGH
Industry (Maturity and Cyclicality) X
Market/Local Economy X
Competitive Position X
Dependence upon other Companies X
Vulnerability to Substitutes X
Technology X
Distribution X
Regulatory Environment X
Suppliers X
Strategy X
Assumptions X
Finanical Performance X
Management Performance X
Inflation/Interest Rates X
Others X
Overall Risk X

Identification of Strengths & Weaknesses

Functions Strong Average Weak Major Strengths and/or Weaknesses
(+) (O) (-) Compared to Competitors
General Administration X Hardworking, direct, effective, charismatic
(Management)
Marketing X Original, consistently appealing
Finance/Planning X Will hire consultants to help
Human Resources X Better performance achievable
Operations X Energy to accomplish tasks
Production X
Purchasing X High perceived quality
Distribution X
Servicing X High customer satisfaction
Quality of Service X
Company Policies X
Product Mix X Several choices available
Product Features X
Options X
Warranties/Guarantees X
Reliability X Best product and service available
Desirability X
Advertising X Hire consultants to improve, lack of money
Market Leadership X Best independent around
Sales Force X
Overhead X Existing levels are too high; can be greatly
reduced with new funding
Pricing X Low for service
Delivery Time X
Location X
Facilities X Best combination around

We feel we will have strengths in product features, management, marketing, human resources, quality of service, operations, product mix, reliability, desirability, highly trained sales force, pricing, location, and facilities.

We will have low risk exposure in the areas of technology, inflation/interest rates, regulatory environment, management ability, location, facilities, and suppliers.

We perceive medium risk exposure in the local economy, strategy, and vulnerability to substitutes, finance, and planning. We have retained the services of specialists to help in various areas such as marketing, accounting, legal, and general overall business operation advice.

We have a high degree of risk in this overhead and lack of working capital. With our proposed new funding, we should overcome most of our weaknesses.

MARKETING STRATEGIES

PRICING AND VALUE

Our intention is to raise the public's awareness of our company. We plan to review our prices and those of our competitors every three months. We will review direct material costs, direct labor costs, and total overhead expenses. We will continually monitor the cost of providing our service to each customer. We will offer various free or reduced rate programs to get customers acquainted with us.

Numerous package deals will be available to customers. The following examples are various marketing strategies we may try:

  • Discounts for larger or repeat purchases
  • Special party rates for the café
  • We will continue the use of our newsletter to help promote value to our customers

SELLING TACTICS

Our company's marketing strategy will incorporate plans to promote our line of services through several different channels and on different levels of use. We will advertise heavily on the popular local radio stations and in newspapers.

We will try to satisfy the market void in this area for indoor entertainment. We will flood the market with advertising and try to go after our specific targets. We will try to capture their attention, pique their interest, and make them feel that they must have our services.

We will offer continuous promotional rates. The results sell themselves. We will offer discounts to frequent users. The more a customer uses our services the cheaper it will become for them.

We also are a MasterCard and Visa charge card merchant which enables us to more readily serve our customers.

In order to market our facility, we shall consider a variety of promotions including:

  • Reserve certain hours for unique groups such as children, senior citizens, service clubs, adults, etc.
  • Conduct special theme nights, use ethnic holidays, family night, charity promotion night, game night, contest night, etc.
  • Cultivate local churches and women's organizations.
  • Promote birthday parties.
  • Early bird specials.

ADVERTISING, PROMOTION, AND DISTRIBUTION OF SERVICES

We recognize that the key to success at this time requires extensive promotion. Advertising goals include all of the following:

  • Position the company as the premier nursery in Central/Western Spokane, Washington.
  • Increase public awareness of Wonderland Nursery and its benefits.
  • Increase public awareness of our company and establish a professional image.
  • Maximize efficiency by continually monitoring media effectiveness.
  • Consider a possible credit coupon in some of the advertisements.
  • Develop a brochure or pamphlet to explain our service and company.
  • Continue use of a distinctive business card and company letterhead.
  • Use a mix of media to saturate the marketplace.

PUBLIC RELATIONS

We will develop a public relations policy that will help increase awareness of our company and product. To achieve these goals we will consider some or all of the following:

  • Develop a press release and a company backgrounder as a public relations tool.
  • Develop a telephone script to handle customer and advertiser contact.
  • Develop a survey to be completed by customers to help determine the following:
  • 1. How did they hear about us?
  • 2. What influenced them to use our service?
  • 3. How well did our service satisfy their needs?
  • 4. How efficient was our service?
  • 5. Did they have any problems getting through to us?
  • 6. Did they shop competitors before selecting us?
  • 7. How did they initially perceive our company and product?
  • 8. Where are most of our customers located?
  • 9. Do they have suggestions for improving our service or our approach to advertising?
  • 10. What additional services would they like us to offer?
  • 11. Would they recommend us to others?
  • Maintain membership in the Chamber of Commerce to keep abreast of developments in the community and market trends.

FINANCIAL PLANS

Data Sheet #1

GENERAL:

Fiscal Year in which Projections/Calculations are to start ..............................................................................................1999

Number of Months in which Projections/Calculations are to start..........................................................................................1

The purpose for this analysis is Business Start-Up, Expansion, or Review ........................................................... START-UP

Owner's contribution to business (include both cash and time in dollar equivalency) ........................................$6,000,000.00

Indicate below if the figures are actual, annualized, or projected for each year in the analysis:

1999 Projected
2000 Projected
2001 Projected
2002 Projected
2003 Projected

INDICATE THE TYPE OF BUSINESS ENTITY YOU HAVE IN THE BOX TO THE RIGHT:  C

START-UP/EXPANSION EXPENSES: EXPENSES FOR YEAR:
% of Sales $ Amounts
Inventory 160,000.00 Advertising & Marketing Expenses 2.59% 0.00
Advertising 0.00 Bad Debts 0.00% 0.00
Telephone/Utilities 0.00 Contract Labor 0.70% 0.00
Professional Fees 0.00 Depreciation 0.00% 4,500.00
Organizational Expenses 0.00 Direct Labor Expenses 3.28% 0.00
Furniture/Fixtures 0.00 Dues, Subscriptions, and Memberships 0.00% 1,000.00
Land 750,000.00 Employee Reimbursement Expenses 0.00% .0.00
Buildings 300,000.00 Freight/Shipping 0.27% 0.00
Machinery/Equipment 65,000.00 Furniture or Fixtures Purchases 0.00% 1,000.00
Rent Deposits 0.00 Insurance 0.00% 8,996.00
Insurance 0.00 Lease Expenses 0.00% 0.00
Leasehold Improvements 0.00 Leasehold Expenses 0.00% 0.00
Licenses/Fees/Permits 0.00 Machinery & Equipment Purchases 0.00% 0.00
Miscellaneous 0.00 Office Supplies and Postage 0.16% 0.00
Property Improvements 25,000.00 Professional Fees 0.00% 4,250.00
Property Taxes 0.00 Permits/Licenses 0.00% 1,940.00
Other #3 0.00 Rent 0.00% 0.00
Other #4 0.00 Repair & Maintenance 0.00% 1,700.00
TOTAL 1,300,000.00 Salaries-Officers 0.00% 38,400.00
LOAN DATA:(If Needed) Salaries-Administrative 0.00% 0.00
Amount of Loan 1 $800,000.00 Salaries and Wages-Other 10.56% 0.00
Term of Loan 1 (Months) 180 Salaries-Manager 0.00% 0.00
Interest Rate for Loan 1 11% Telephone/Utilities 0.00% 11,700.00
First Year of Loan 1 1999 Property Improvements 0.00% 2,550.00
First Payment Month 8 Property Taxes 0.00% 9,000.00
Other #3 0.00% 0.00
Amount of Loan 2 $0.00 Other #4 0.00% 0.00
Term of Loan 2 (Months) 60 Miscellaneous/Contingency Expenses 2.50% 0.00
Interest Rate for Loan 2 0.00% TOTAL FIRST YEAR EXPENSES INCLUDING INTEREST PAID
First Year of Loan 2 1999 AND COST OF GOODS SOLD: $858,366
First Payment Month 1
PERCENTAGE OF TOTAL PAYROLL ALLOTTED TO PAYROLL TAXES AND BENEFITS 10.00%
PERCENTAGE OF NET SALES EXPECTED FOR THE COST OF GOODS SOLD: Café 35.00%
PERCENTAGE OF NET SALES EXPECTED FOR THE COST OF GOODS SOLD: Nursery 55.00%

Data Sheet #2

SOURCE/AMOUNTS OF INCOME FOR YEAR 1999
Nursery sales $797,000.00
Café sales $130,000.00
Source of Income #3 $0.00
Source of Income #4 $0.00
Other Income/Exp. (Net) $6,000.00
TOTAL INCOME $933,000.00
PERCENTAGE OF INCOME GROWTH
For Second Year 2000 15.00%
For Third Year 2001 15.00%
For Fourth Year 2002 15.00%
For Fifth Year 2003 15.00%
PERCENTAGE OF INCREASE IN EXPENSES:
For Second Year 5.00%
For Third Year 5.25%
For Fourth Year 5.50%
For Fifth Year 5.75%
PERCENTAGE OF NET INCOME TO BE PAID OUT IN DIVIDENDS
For First Year 1999 50.00%
For Second Year 2000 60.00%
For Third Year 2001 65.00%
For Fourth Year 2002 70.00%
For Fifth Year 2003 75.00%

Number of Customers Expected to Serve the First Year: 12,000

Average Income received from each Customer: $77.75

Operating Data 1999 2000 2001 2002 2003
Days Sales in Accounts Receivable 20.0 20.0 20.0 20.0 20.0
Days Materials Cost in Inventory 30.0 30.0 30.0 30.0 30.0
Days Finished Goods in Inventory 45.0 45.0 45.0 45.0 45.0
Days Materials Cost in Payables 20.0 20.0 20.0 20.0 20.0
Days Payroll Expenses accrued 20.0 20.0 20.0 20.0 20.0
Days Operating Expenses accrued 25.0 25.0 25.0 25.0 25.0

RE-STRUCTURE EXPENSES

Category Amount
Cash and Working Capital $28,150
Material-Supplies-Inventory 10,000
Furniture and Fixtures 25,500
Equipment 40,000
Rent Deposits 9,700
License Fees/Permits 1,000
Insurance (First year paid in advance) 1,800
Utilities & Telephone 500
Legal, Professional, and Consulting Fees 1,500
Security System & Leasehold Improvements 5,000
Initial Entertainment Budget 6,000
Opening Advertisement & Promotion 3,000
Miscellaneous 2,850
TOTAL $135,000

Projected First-Year Monthly Budget 1999

Month Start-Up Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7
CASH RECEIPTS:
Nursery Sales $4,782 $11,158 $15,143 $47,023 $295,687 $168,167 $78,106
Café Sales $3,510 $4,160 $4,940 $6,500 $13,000 $20,020 $20,020
Source of Income #3 $0 $0 $0 $0 $0 $0 $0
Source of Income #4 $0 $0 $0 $0 $0 $0 $0
Other Income/Expense (Net) $500 $500 $500 $500 $500 $500 $500
Owner 's Equity 600,000
Loan 800,000
Total Cash Received 1,400,000 8,792 15,818 20,583 54,023 309,187 188,687 98,626
DISBURSEMENTS:
Cost of Goods Sold/Inventory 160,000 $3,859 $7,593 $10,058 $28,138 $167,178 $99,499 $49,965
Advertising / Marketing Exp. 0 $215 $397 $520 $1,386 $7,992 $4,872 $2,540
Bad Debts $0 $0 $0 $0 $0 $0 $0
Contract Labor $58 $107 $141 $375 $2,164 $1,320 $688
Depreciation $375 $375 $375 $375 $375 $375 $375
Direct Labor $272 $502 $658 $1,754 $10,116 $6,167 $3,216
Dues/Subscrip./Memberships $83 $83 $83 $83 $83 $83 $83
Employee Reimbursement Exp. $0 $0 $0 $0 $0 $0 $0
Freight / Shipping $22 $41 $54 $144 $832 $508 $265
Furniture or Fixtures Purchases 0 $83 $83 $83 $83 $83 $83 $83
Insurance 0 $750 $750 $750 $750 $750 $750 $750
Land 750,000
Buildings 300,000
Lease Expenses $0 $0 $0 $0 $0 $0 $0
Leasehold Expenses 0 $0 $0 $0 $0 $0 $0 $0
Mach./Equipment Purchases 65,000 $0 $0 $0 $0 $0 $0 $0
Organizational Expenses 0 $0 $0 $0 $0 $0 $0 $0
Office Supplies and Postage $13 $25 $32 $87 $499 $305 $159
Payroll Taxes/Employee Benefits $435 $532 $598 $1,060 $4,590 $2,923 $1,677
Professional Fees 0 $354 $354 $354 $354 $354 $354 $354
Permits / Licenses 0 $162 $162 $162 $162 $162 $162 $162
Rent 0 $0 $0 $0 $0 $0 $0 $0
Repair & Maintenance $142 $142 $142 $142 $142 $142 $142
Salaries-Officers $3,200 $3,200 $3,200 $3,200 $3,200 $3,200 $3,200
Salaries-Administrative $0 $0 $0 $0 $0 $0 $0
Salaries and Wages-Other $875 $1,617 $2,120 $5,650 $32,587 $19,866 $10,359
Salaries-Manager $0 $0 $0 $0 $0 $0 $0
Telephone / Utilities 0 $975 $975 $975 $975 $975 $975 $975
Property Improvements 25,000 $213 $213 $213 $213 $213 $213 $213
Property Taxes 0 $750 $750 $750 $750 $750 $750 $750
Other #3 0 $0 $0 $0 $0 $0 $0 $0
Other #4 0 $0 $0 $0 $0 $0 $0 $0
Misc./Contingency Expenses 0 $207 $383 $502 $1,338 $7,717 $4,705 $2,453
Total Cash Paid Out 1,300,000 13,043 18,283 21,770 47,019 240,763 147,250 78,409
LOANS SECTION:
Interest 7,333 7,317 7,301 7,285 7,268 7,251 7,234
Principal 1,759 1,776 1,792 1,808 1,825 1,842 1,858
Cash Pyts to Loans 9,093 9,093 9,093 9,093 9,093 9,093 9,093
Taxable Income -11,584 -9,782 -8,487 -280 61,156 34,186 12,983
Income Tax (State & Federal) 1,449 1,449 1,449 1,449 1,449 1,449 1,449
NET INCOME -13,033 -11,232 -9,937 -1,729 59,707 32,736 11,534
LOANS (Balance) 800,000 798,241 796,465 794,673 792,865 791,040 789,198 787,340
DIVIDENDS PAID 2,385 2,385 2,385 2,385 2,385 2,385 2,385
BEGINNING CASH 100,000
Month 8 Month 9 Month 10 Month 11 Month 12 TOTALS
$53,399 $71,730 $19,925 $10,361 $21,519 $797,000
$14,950 $11,960 $10,010 $8,970 $11,960 $130,000
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$500 $500 $500 $500 $500 $6,000
68,849 84,190 30,435 19,831 33,979 933,000
$34,602 $43,638 $14,462 $8,838 $16,021 $483,850
$1,770 $2,167 $775 $500 $867 $24,000
$0 $0 $0 $0 $0 $0
$479 $587 $210 $136 $235 $6,500
$375 $375 $375 $375 $375 $4,500
$2,240 $2,743 $981 $634 $1,097 $30,379
$83 $83 $83 $83 $83 $1,000
$0 $0 $0 $0 $0 $0
$184 $226 $81 $52 $90 $2,500
$83 $83 $83 $83 $83 $1,000
$750 $750 $750 $750 $750 $8,996
$0
$0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$111 $135 $48 $31 $54 $1,500
$1,266 $1,478 $734 $587 $783 $16,664
$354 $354 $354 $354 $354 $4,250
$162 $162 $162 $162 $162 $1,940
$0 $0 $0 $0 $0 $0
$142 $142 $142 $142 $142 $1,700
$3,200 $3,200 $3,200 $3,200 $3,200 $38,400
$0 $0 $0 $0 $0 $0
$7,215 $8,835 $3,160 $2,041 $3,534 $97,860
$0 $0 $0 $0 $0 $0
$975 $975 $975 $975 $975 $11,700
$213 $213 $213 $213 $213 $2,550
$750 $750 $750 $750 $750 $9,000
$0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0
$1,709 $2,092 $748 $483 $837 $23,175
56,661 68,986 28,286 20,389 30,605 $771,464
7,217 7,200 7,183 7,165 7,148 $86,902
1,875 1,893 1,910 1,928 1,945 $22,211
9,093 9,093 9,093 9,093 9,093 $109,113
4,970 8,004 -5,034 -7,723 -3,774 $74,634
1,449 1,449 1,449 1,449 1,449 $17,390
3,521 6,555 -6,483 -9,172 -5,223 $57,244
785,464 783,572 781,662 779,734 777,789
2,385 2,385 2,385 2,385 2,385 $28,622

Projected Second-Year Monthly Budget 2000

Month Month 13 Month 14 Month 15 Month 16 Month 17 Month 18 Month 19 Month 20
CASH RECEIPTS:
Nursery Sales $5,499 $12,832 $17,414 $54,076 $340,040 $193,392 $89,822 $61,409
Café Sales $4,037 $4,784 $5,681 $7,475 $14,950 $23,023 $23,023 $17,193
Source of Income #3 $0 $0 $0 $0 $0 $0 $0 $0
Source of Income #4 $0 $0 $0 $0 $0 $0 $0 $0
Other Income/Expense (Net) $525 $525 $525 $525 $525 $525 $525 $525
Owner 's Equity
Loan
Total Cash Received 10,061 18,141 23,620 62,076 355,515 216,940 113,370 79,126
DISBURSEMENTS:
Cost of Goods Sold/Inventory $4,437 $8,732 $11,566 $32,358 $192,255 $114,424 $57,460 $39,792
Advertising / Marketing Exp. $247 $456 $598 $1,594 $9,191 $5,603 $2,922 $2,035
Bad Debts $0 $0 $0 $0 $0 $0 $0 $0
Contract Labor $67 $124 $162 $432 $2,489 $1,517 $791 $551
Depreciation $394 $394 $394 $394 $394 $394 $394 $394
Direct Labor $313 $577 $757 $2,017 $11,633 $7,092 $3,698 $2,576
Dues/Subscrip./Memberships $88 $88 $88 $88 $88 $88 $88 $88
Employee Reimbursement Exp. $0 $0 $0 $0 $0 $0 $0 $0
Freight / Shipping $26 $48 $62 $166 $957 $584 $304 $212
Furniture or Fixtures Purchases $88 $88 $88 $88 $88 $88 $88 $88
Insurance $787 $787 $787 $787 $787 $787 $787 $787
Land
Buildings
Lease Expenses $0 $0 $0 $0 $0 $0 $0 $0
Leasehold Expenses $0 $0 $0 $0 $0 $0 $0 $0
Mach./Equipment Purchases $0 $0 $0 $0 $0 $0 $0 $0
Organizational Expenses $0 $0 $0 $0 $0 $0 $0 $0
Office Supplies and Postage $144 $144 $144 $144 $144 $144 $144 $144
Payroll Taxes/Employee Benefits $468 $580 $655 $1,187 $5,247 $3,330 $1,897 $1,423
Professional Fees $372 $372 $372 $372 $372 $372 $372 $372
Permits / Licenses $170 $170 $170 $170 $170 $170 $170 $170
Rent $0 $0 $0 $0 $0 $0 $0 $0
Repair & Maintenance $149 $149 $149 $149 $149 $149 $149 $149
Salaries-Officers $3,360 $3,360 $3,360 $3,360 $3,360 $3,360 $3,360 $3,360
Salaries-Administrative $0 $0 $0 $0 $0 $0 $0 $0
Salaries and Wages-Other $1,007 $1,860 $2,438 $6,498 $37,475 $22,846 $11,913 $8,298
Salaries-Manager $0 $0 $0 $0 $0 $0 $0 $0
Telephone / Utilities $1,024 $1,024 $1,024 $1,024 $1,024 $1,024 $1,024 $1,024
Property Improvements $223 $223 $223 $223 $223 $223 $223 $223
Property Taxes $788 $788 $788 $788 $788 $788 $788 $788
Other #3 $0 $0 $0 $0 $0 $0 $0 $0
Other #4 $0 $0 $0 $0 $0 $0 $0 $0
Misc./Contingency Expenses $238 $440 $577 $1,539 $8,875 $5,410 $2,821 $1,965
Total Cash Paid Out 14,387 20,400 24,401 53,375 275,706 168,391 89,390 64,437
LOANS SECTION:
Interest 7,130 7,112 7,094 7,075 7,057 7,038 7,019 7,000
Principal 1,963 1,981 1,999 2,018 2,036 2,055 2,074 2,093
Cash Pyts to Loans 9,093 9,093 9,093 9,093 9,093 9,093 9,093 9,093
Taxable Income -11,456 -9,371 -7,874 1,626 72,752 41,511 16,960 7,689
Income Tax (State & Federal) 2,529 2,529 2,529 2,529 2,529 2,529 2,529 2,529
NET INCOME -13,985 -11,900 -10,403 -903 70,223 38,982 14,431 5,161
LOANS (Balance) 775,826 773,846 771,845 769,828 767,792 765,738 763,664 761,571
DIVIDENDS PAID 3,969 3,969 3,936 3,969 3,969 3,969 3,969 3,969
Month 21 Month 22 Month 23 Month 24 TOTALS
$82,490 $22,914 $11,915 $24,747 $916,550
$13,754 $11,512 $10,316 $13,754 $149,500
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$525 $525 $525 $525 $6,300
96,769 34,950 22,756 39,026 $1,072,350
$50,183 $16,632 $10,164 $18,425 $556,428
$2,492 $891 $576 $997 $27,600
$0 $0 $0 $0 $0
$675 $241 $156 $270 $7,475
$394 $394 $394 $394 $4,725
$3,154 $1,128 $729 $1,262 $34,936
$88 $88 $88 $88 $1,050
$0 $0 $0 $0 $0
$260 $93 $60 $104 $2,875
$88 $88 $88 $88 $1,050
$787 $787 $787 $787 $9,446
$0
$0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$144 $144 $144 $144 $1,725
$1,667 $812 $644 $869 $18,779
$372 $372 $372 $372 $4,463
$170 $170 $170 $170 $2,037
$0 $0 $0 $0 $0
$149 $149 $149 $149 $1,785
$3,360 $3,360 $3,360 $3,360 $40,320
$0 $0 $0 $0 $0
$10,160 $3,634 $2,347 $4,064 $112,539
$0 $0 $0 $0 $0
$1,024 $1,024 $1,024 $1,024 $12,285
$223 $223 $223 $223 $2,678
$788 $788 $788 $788 $9,450
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$2,406 $861 $556 $963 $26,651
78,581 31,877 22,814 34,537 $878,296
6,981 6,962 6,942 6,922 $84,332
2,112 2,131 2,151 2,170 $24,781
9,093 9,093 9,093 9,093 $109,113
11,205 -3,888 -7,001 -2,434 $109,722
2,529 2,529 2,529 2,529 $30,347
8,677 -6,417 -9,530 -4,962 $79,375
759,460 757,329 755,178 753,008
3,969 3,969 3,969 3,969 $47,625

Five-Year Income Statement

Five-Year Analysis
Sales Projected 1999 Projected 2000 Projected 2001 Projected 2002 Projected 2003
Sales $927,000 $1,066,050 $1,225,958 $1,409,852 $1,621,329
Cost of sales $514,229 $591,364 $680,068 $782,079 $899,390
Gross Profits $412,771 $474,686 $545,890 $627,773 $721,939
Expenses:
Operating expenses $252,735 $282,207 $315,900 $354,427 $398,491
Interest $86,902 $84,332 $81,465 $78,265 $74,695
Depreciation $4,500 $4,725 $4,973 $5,247 $5,548
Amortization $0 $0 $0 $0 $0
Total expenses $344,137 $371,264 $402,338 $437,939 $478,734
Operating income $68,634 $103,422 $143,552 $189,834 $243,205
Other income and expenses
Gain (loss) on sale of assets $0 $0 $0 $0 $0
Other (net) $6,000 $6,300 $6,631 $6,995 $7,398
Subtotal $6,000 $6,300 $6,631 $6,995 $7,398
Income before tax $74,634 $109,722 $150,183 $196,829 $250,603
Taxes (Federal & State) $17,390 $30,347 $45,317 $62,577 $82,473
Rate 23.30% 27.66% 30.17% 31.79% 32.91%
Net income $57,244 $79,375 $104,866 $134,252 $168,130
Retained earnings-beginning $0 $28,622 $60,372 $97,076 $137,351
Dividends paid $28,622 $47,625 $68,162 $93,977 $126,097
Retained earnings-ending $28,622 $60,372 $97,076 $137,351 $179,384
Detailed Supporting Information
Cost of sales
Direct labor $30,479 $34,936 $40,176 $46,203 $53,133
Materials $483,850 $556,428 $639,892 $735,876 $846,257
Other costs

Five-Year Balance Statement

FIVE-YEAR ANALYSIS
Projected Projected Projected Projected Projected
START-UP 1999 2000 2001 2002 2003
ASSETS:
Cash and cash equivalents $100,000 $194,902 $189,607 $184,182 $176,568 $164,185
Accounts Receivable $0 $50,795 $58,414 $67,176 $77,252 $88,840
Inventory $160,000 $103,167 $118,642 $136,438 $156,904 $180,439
Other current assets $0 $0 $0 $0 $0 $0
Total Current Assets $260,000 $348,864 $366,663 $387,796 $410,724 $433,464
FIXED ASSETS:
Land $750,000 $750,000 $750,000 $750,000 $750,000 $750,000
Buildings $300,000 $300,000 $300,000 $300,000 $300,000 $300,000
Machinery & Equipment $65,000 $65,000 $65,000 $65,000 $65,000 $65,000
Furniture/Fixtures $0 $0 $1,050 $2,155 $3,321 $4,554
Subtotal $1,115,000 $1,115,000 $116,050 $1,117,155 $1,118,321 $1,119,554
Less-accumulated depreciation $0 $4,500 $9,225 $14,198 $19,445 $24,993
Total Fixed Assets $1,115,000 $1,110,500 $1,106,825 $1,102,957 $1,098,876 $1,094,561
INTANGIBLE ASSETS:
Cost $0 $0 $0 $0 $0 $0
Less-accumulated amortization $0 $0 $0 $0 $0 $0
Total Intangible Assets $0 $0 $0 $0 $0 $0
Other Assets $25,000 $0 $0 $0 $0 $0
Total Assets $1,400,000 $1,459,364 $1,473,488 $1,490,753 $1,509,600 $1,528,025
LIABILITIES:
Accounts payable $0 $26,512 $30,489 $35,063 $40,322 $46,370
Notes payable $0 $0 $0 $0 $0 $0
Current portion of long-term debt $22,211 $24,781 $27,649 $30,848 $34,418 $38,401
Income taxes $0 $0 $0 $0 $0 $0
Accrued expenses $0 $26,441 $29,619 $33,255 $37,416 $42,178
Other current liabilities $0 $0 $0 $0 $0 $0
Total Current Liabilities $22,211 $77,734 $87,757 $99,166 $112,156 $126,949
Long-term debt $777,789 $753,008 $725,359 $694,511 $660,093 $621,692
Deferred income $0 $0 $0 $0 $0 $0
Deferred income taxes $0 $0 $0 $0 $0 $0
Other long-term liabilities $0 $0 $0 $0 $0 $0
Total Liabilities $800,000 $830,742 $813,116 $793,677 $772,249 $748,641
EQUITY:
Capital stock issues $600,000 $600,000 $600,000 $600,000 $600,000 $600,000
Additional paid in capital $0 $0 $0 $0 $0 $0
Retained earnings $0 $28,622 $60,372 $97,076 $137,351 $179,384
Total Equity $600,000 $628,622 $660,372 $697,076 $737,351 $779,384
Total Liabilities and Equity $1,400,000 $1,459,364 $1,473,488 $1,490,753 $1,509,600 $1,528,025
"C" Corporation (Y/N) Y
Cash balance positive / (negative) Positive Positive Positive Positive Positive Positive
Amount sheet is out-of-balance $0 $0 $0 $0 $0 $0
Amount cash flow out-of-balance $0 $0 $0 $0 $0

Five-Year Cash Flow Statement

Projected Projected Projected Projected Projected
1999 2000 2001 2002 2003
Cash from operations
Net earnings (loss) $57,244 $79,375 $104,866 $134,252 $168,130
Add-depreciation and amortization $4,500 $4,725 $4,973 $5,247 $5,548
Cash from operations $61,744 $84,100 $109,839 $139,499 $173,678
Cash provided (used) by operating activities
Accounts Receivable ($50,795) ($7,619) ($8,762) ($10,076) ($11,588)
Inventory $56,833 ($15,475) ($17,796) ($20,466) ($23,535)
Other current assets $0 $0 $0 $0 $0
Other non-current assets $25,000 $0 $0 $0 $0
Accounts payable $26,512 $3,977 $4,574 $5,259 $6,048
Current portion of long-term debt $2,570 $2,868 $3,199 $3,570 $3,983
Income taxes $0 $0 $0 $0 $0
Accrued expenses $26,441 $3,178 $3,636 $4,161 $4,762
Other current liabilities $0 $0 $0 $0 $0
Dividends paid ($28,622) ($47,625) ($68,162) ($93,977) ($126,097)
Net cash from operations $57,939 ($60,696) ($83,311) ($111,529) ($146,427)
Investment transactions
Increases (decreases)
Land $0 $0 $0 $0 $0
Buildings and improvements $0 $0 $0 $0 $0
Equipment $0 $0 $0 $0 $0
Furniture/Fixtures $0 $1,050 $1,105 $1,166 $1,233
Intangible assets $0 $0 $0 $0 $0
Net cash from investments $0 $1,050 $1,105 $1,166 $1,233
Financing transactions
Increases (decreases)
Short-term notes payable $0 $0 $0 $0 $0
Long-term debt ($24,781) ($27,649) ($30,848) ($34,418) ($38,401)
Deferred income $0 $0 $0 $0 $0
Deferred income taxes $0 $0 $0 $0 $0
Other long-term liabilities $0 $0 $0 $0 $0
Capital stock and paid in capital $0 $0 $0 $0 $0
Net cash from financing ($24,781) ($27,649) ($30,848) ($34,418) ($38,401)
Net increase (decrease) in cash $94,902 ($5,295) ($5,425) ($7,614) ($12,383)
Cash at beginning of period $100,000 $194,902 $189,607 $184,182 $176,568
Cash at the end of period $194,902 $189,607 $184,182 $176,568 $164,185
Common Size Income Statement
Projected Projected Projected Projected Projected Industry
1999 2000 2001 2002 2003 1999
Revenue from Sales 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Cost of Sales 55.5% 55.5% 55.5% 55.5% 55.5% 55.8%
Gross Profit 44.5% 44.5% 44.5% 44.5% 44.5% 44.2%
Operating Expenses 37.1% 34.8% 32.8% 31.1% 29.5% 38.1%
Operating Profit 7.4% 9.7% 11.7% 13.5% 15.0% 6.1%
Other Expen./Inc (Net) 0.6% 0.6% 0.5% 0.5% 0.5% -2.7%
PRE-TAX PROFIT 8.1% 10.3% 12.3% 14.0% 15.5% 3.4%
Income Taxes 1.9% 2.8% 3.7% 4.4% 5.1% 0.0%
INCOME AFTER TAXES 6.2% 7.4% 8.6% 9.5% 10.4% 3.4%
Common Size Balance Sheet
Cash & Equivalent 13.4% 12.9% 12.4% 11.7% 10.7% 7.0%
Accounts Receivable 3.5% 4.0% 4.5% 5.1% 5.8% 10.5%
Inventory 7.1% 8.1% 9.2% 10.4% 11.8% 35.7%
Other Current 0.0% 0.0% 0.0% 0.0% 0.0% 0.7%
Total Current Assets 23.9% 24.9% 26.0% 27.2% 28.4% 53.9%
Fixed Assets (Net) 76.1% 75.1% 74.0% 72.8% 71.6% 38.0%
Intangibles 0.0% 0.0% 0.0% 0.0% 0.0% 2.5%
Other Assets 0.0% 0.0% 0.0% 0.0% 0.0% 5.6%
TOTAL ASSETS 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities:
Accounts Payable 1.8% 2.1% 2.4% 2.7% 3.0% 13.2%
Short-term Notes 0.0% 0.0% 0.0% 0.0% 0.0% 6.6%
Current Maturities (LTD) 1.7% 1.9% 2.1% 2.3% 2.5% 13.9%
Income Taxes 0.0% 0.0% 0.0% 0.0% 0.0% 0.3%
Accrued Expenses 1.8% 2.0% 2.2% 2.5% 2.8% 8.0%
Other Current Liabilities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Total Current Liabilities 5.3% 6.0% 6.7% 7.4% 8.3% 42.0%
Long-term Debt 51.6% 49.2% 46.6% 43.7% 40.7% 32.4%
Other Non-Current 0.0% 0.0% 0.0% 0.0% 0.0% 6.2%
Total Liabilities 56.9% 55.2% 53.2% 51.2% 49.0% 80.6%
TOTAL EQUITY 43.1% 44.8% 46.8% 48.8% 51.0% 19.4%
Total Liabilities & Equity 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Average Monthly Break-Even Analysis 1999

Per Month-1st Year
Cost Variables Optimistic
-20.00%
Most Likely
Case
Pessimistic
20.00%
FIXED COSTS:
Rentals/Leases $0 $0 $0
Salaries (Fixed/Officers) $2,560 $3,200 $3,840
Insurance $600 $750 $900
Depreciation & Amortization $300 $375 $450
Interest $5,793 $7,242 $8,690
Utilities/Phone $780 $975 $1,170
(Other fixed costs) $0 $0 $0
Total Fixed Costs $10,033 $12,542 $15,050
VARIABLE COSTS:
Cost of Goods Sold $32,257 $40,321 $48,385
Variable Labor/Wages $6,524 $8,155 $9,786
Advertising $1,600 $2,000 $2,400
Professional Services $283 $354 $425
(Other variable cost) $6,527 $8,159 $9,791
Total Variable Costs $47,191 $58,989 $70,787
SALES AND INCOME DATA:
Average Income Per Customer $77.75 $77.75 $77.75
Average # of Customers Per Month $1,200.00 $1,000.00 $800.00
RESULTS:
Fixed Costs per Customer $8.36 $12.54 $18.81
Variable Costs per Customer $39.33 $58.99 $88.48
Break-Even Number of Customers $261.12 $668.49 ($1,402.14)
Number of Customers over Break-Even $938.88 $331.51 $2,202.14
Break-Even Sales Amount $20,301.92 $51,974.85 ($109,016.33)
Gross Profit per Customer $38.42 $18.76 ($10.73)
Gross Profit (over Break-Even) $36,075.62 $6,219.53 ($23,636.56)

Average Monthly Break-Even Analysis 2000

Per Month-1st Year
Cost Variables Optimistic
-20.00%
Most Likely
Case
Pessimistic
20.00%
FIXED COSTS:
Rentals/Leases $0 $0 $0
Salaries (Fixed/Officers) $2,688 $3,360 $4,032
Insurance $630 $787 $945
Depreciation & Amortization $315 $394 $473
Interest $5,622 $7,028 $8,433
Utilities/Phone $819 $1,024 $1,229
(Other fixed costs) $0 $0 $0
Total Fixed Costs $10,074 $12,592 $15,111
VARIABLE COSTS:
Cost of Goods Sold $37,095 $46,369 $55,643
Variable Labor/Wages $7,053 $9,378 $11,254
Advertising $1,840 $2,300 $2,760
Professional Services $298 $372 $446
(Other variable cost) $7,366 $9,208 $11,049
Total Variable Costs $54,101 $67,627 $81,152
SALES AND INCOME DATA:
Average Income Per Customer $77.71 $77.71 $77.71
Average # of Customers Per Month $1,380.00 $1,150.00 $920.00
RESULTS:
Fixed Costs per Customer $7.30 $10.95 $16.42
Variable Costs per Customer $39.20 $58.81 $88.21
Break-Even Number of Customers $261.64 $666.23 ($1,438.83)
Number of Customers over Break-Even $1,118.36 $483.77 $2,358.83
Break-Even Sales Amount $20,331.17 $51,770.73 ($111,806.26)
Gross Profit per Customer $38.50 $18.90 ($10.50)
Gross Profit (over Break-Even) $43,059.83 $9,143.53 ($24,772.76)

Break-Even Table Year 1

Income per customer $77.75
Total fixed Costs $12,541.50
Variable costs per customer $58.99
# of customers Total Revenues Total Costs
401.09 $31,185 $36,202
467.94 $36,382 $40,145
534.79 $41,580 $44,088
601.64 $46,777 $48,032
668.49 $51,975 $51,975
735.34 $57,172 $55,918
802.18 $62,370 $59,862
869.03 $67,567 $63,805
935.88 $72,765 $67,748
1002.73 $77,962 $71,692

Break-Even Table Year 2

Income per customer $77.71
Total fixed Costs $12,592.32
Variable costs per customer $58.81
# of customers Total Revenues Total Costs
399.74 31,062 36,099
466.36 36,240 40,017
532.99 41,417 43,935
599.61 46,594 47,853
666.23 51,771 51,771
732.86 56,948 55,689
799.48 62,125 59,606
866.1 67,302 63,524
932.73 72,479 67,442
999.35 77,656 71,360

Rates of Return

Net Income IRR MIRR Annual Dividends Total Assets
Initial Investment $(800,000)
1999 $53,719 N/A -93.29% $21,488 $1,561,289
2000 $76,138 0 -20.48% $45,683 $1,578,125
2001 $105,240 0 73.14% $84,192 $1,584,892
2002 $140,511 -22.14% 154.12% $112,409 $1,597,513
2003 $183,391 -9.32% 219.67% $146,713 $1,617,518

Assumptions:

Income figures are after taxes Dividend Payout = 50% of After Tax Income Reinvestment rate = 7%

IRR = International rate of return MIRR = Modified rate of return ROI = Rate of return on owner's investment ROA = Rate of return on total assets

IRR = the interest rate received for an investment and income that occur at regular periods. MIRR = adds the cost of funds and interest received on reinvestment of cash to the IRR.

1999 2000 2001 2002 2003
Return on Assets 3.4% 4.82% 6.64% 8.80% 11.34%
Return on Investment 2.69% 5.71% 10.52% 14.05% 18.34%
Income Per Share $0.07 $0.10 $0.13 $0.18 $0.23
Dividends Per Share $0.03 $0.06 $0.11 $0.14 $0.18

Loan Compliance Covenants

Year Net
Working
Capital
Current
Ratio
Quick
Ragio
EBIT/
Interest
EBIT/
I+P
EBIT/
Equity
Z-Score
1999 $164,436 3.46 2.02 1.84 1.51 0.88 1.47
2000 $192,278 3.54 2.08 2.29 0.21 0.83 1.67
2001 $208,898 3.4 1.92 2.93 0.66 0.79 1.9
2002 $230,503 3.3 1.78 3.74 3.82 0.75 2.19
2003 $258,324 3.23 1.68 4.81 0 0.71 2.52
Industry Median N/A 1.4 0.4 2 N/A 3 N/A

Annual Projections Summary

Projection Period Gross
Profit
After-Tax
Net Income
Cash from
Operations
Book
Equity
Start-Up/Base $800,000
1999 $413,022 $53,719 $73,719 $832,231
2000 $474,975 $76,138 $97,138 $862,686
2001 $555,722 $105,240 $127,343 $883,734
2002 $652,974 $140,511 $163,830 $911,836
2003 $770,508 $183,391 $208,050 $948,514

Income Statement Chart

Projected 1999 Projected 2000 Projected 2001 Projected 2002 Projected 2003
Sales 927,000 1,066,050 1,225,958 1,409,852 1,621,329
Cost of Sales 514,229 591,364 680,068 782,079 899,390
Expenses 344,137 371,264 402,338 437,939 478,734
Operating Income 68,634 103,422 143,552 189,834 243,205
Income Taxes 17,390 30,347 45,317 62,577 82,473
Net Income 57,244 79,375 104,866 134,252 168,130

Balance Sheet Chart

1999 2000 2001 2002 2003
Current Assets 348,864 366,663 387,796 410,724 433,464
Fixed Assets 1,110,500 1,106,825 1,102,957 1,098,876 1,094,561
Total Assets 1,459,364, 1,473,488 1,490,753 1,509,600 1,528,025
Current Liabilities 77,734 87,757 99,166 112,156 126,949
Total Liabilities 830,742 813,116 793,677 772,249 748,641
Net Worth 628,622 660,372 697,076 737,351 779,384

Growth Trends

1999 2000 2001 2002 2003
Cost of Goods Sold $514,229 $591,364 $680,068 $782,079 $899,390
Total Expenses $344,137 $371,264 $402,338 $437,939 $478,734
Total Revenue $933,000 $1,072,350 $1,232,589 $1,416,847 $1,628,727

Net Income Growth

1999 2000 2001 2002 2003
Net Income $57,244 $79,375 $104,866 $134,252 $168,130

Composition of Income - First Year

1999
Nursery Sales $797,000
Café Sales $130,000
Other Income/Exp. (Net) $6,000

Breakdown of Expenses - First Year

1999
Cost of Goods Sold $483,850
Labor Expenses $183,303
Interest Expenses $86,902 Total First Year Expenses $858,366
Rent, Utilities, Repairs $13,400
Other Expenses $90,911

Selected Key Ratios Chart

5 Year-Average Business Average Industry
Current Ratio 3.93 1.4
Cost of Sales / Inventory 4.98 5.7
Cost of Sales / Payables 19.4 20
EBIT / Interest 2.97 2
Debt / Worth 1.14 3
Sales / Total Assets 0.01 0.02
Sales / Receivables 18.25 40

Ratio Comparison

Projected
1999
Projected
2000
Projected
2001
Projected
2002
Projected
2003
Industry Ave.
1999
Liquidity Ratios:
Current Ratio 4.49 4.18 3.91 3.66 3.41 1.4
Quick Ratio 3.16 2.83 2.53 2.26 1.99 0.4
Sales/Receivables 18.25 18.25 18.25 18.25 18.25 40
Day's Receivables 20 20 20 20 20 9.13
Cost of Sales/Inventory 4.98 4.98 4.98 4.98 4.98 5.7
Day's Inventory 73.23 73.23 73.23 73.23 73.23 64.04
Cost of Sales/Payables 19.4 19.4 19.4 19.4 19.4 20
Day's Payables 18.82 18.82 18.82 18.82 18.82 18.25
Sales/Work. Capital 3.42 3.82 4.25 4.72 5.29 18.2
EBIT/Interest 1.86 2.3 2.84 3.51 4.36 2
Net Profit +Depr.+Amort./C.L.T.D. 2.49 3.04 3.56 4.05 4.52 2.4
Leverage Ratios:
Fixed Assets / Tangible Net Worth 1.77 1.68 1.58 1.49 1.4 2
Debt / Worth 1.32 1.23 1.14 1.05 0.96 3
Operating Ratios:
Profit Before Tax / Tan. Net Worth 11.87% 16.62% 21.54% 26.69% 32.15% 21.20%
Profit Before Tax / Total Assets 5.11% 7.45% 10.07% 13.04% 16.40% 8.20%
Sales / Net Fixed Assets 0.83% 0.96% 1.11% 1.28% 1.48% 7.90%
Sales / Total Assets 0.64% 0.72% 0.82% 0.93% 1.06% 2.00%
Other Ratios / Numbers:
Officers Salaries (Actual) $38,400 $40,320 $42,437 $44,771 $47,345 N/A
Equity (Net Worth) $628,622 $660,372 $697,076 $737,351 $779,384 N/A
Loans Balance (Actual) $777,789 $753,008 $725,359 $694,511 $660,093 N/A
% Deprec., Amort./Sales 0 0 0 0 0 2.3
% Officers Compensation/Sales 0.04 0.04 0.03 0.03 0.03 5.3
Tangible Net Worth (NW-Intangibles) $628,622 $660,372 $697,076 $737,351 $779,384 N/A
Working Capital (Actual) $271,130 $278,906 $288,630 $298,568 $306,515 N/A
Gross Profit:
Key Percentages as a Percent of Gross Profit
Rent 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Interest Paid 21.05% 17.77% 14.92% 12.47% 10.35% 0.00%
Depreciation & Amortization 1.09% 1.00% 0.91% 0.84% 0.77% 0.00%
Officers Compensation 9.30% 8.49% 7.77% 7.13% 6.56% 0.00%
Taxes Paid 4.21% 6.39% 8.30% 9.97% 11.42% N/A

RATIO ANALYSIS

Current Ratio is an approximate measure of a firm's ability to meet its current obligations and is calculated as Current Assets divided by Current Liabilities. This ratio shows an upward trend and indicates that if the company meets its goals it will be relatively more stable than the industry in general.

Revenue to Working Capital Ratio is a measure of the margin of protection for current creditors. This ratio is on a downward trend and indicates a good level of safety for creditors.

EBIT to Interest Ratio is a measure of ability to meet annual interest payments. Since this ratio is above industry averages, the company should have no problem servicing its debt and can even service greater amounts of debt.

The Current Maturities Coverage Ratio measures the ability to pay current maturities of long-term debt with cash flow from operations. It is calculated as Net Income Depreciation, Amortization divided by current portion of long-term debt. This ratio shows an upward trend which indicates the company should be better to service its debt than the average company.

The Fixed Assets to Tangible Net Worth Ratio measures the extent to which owner's equity has been invested in the business. Since this ratio is on a downward trend, it provides an even larger "cushion" to creditors in the event of liquidation.

The Debt to Equity Ratio expresses the relationship between capital contributed by creditors and capital contributed by owners. This ratio shows a downward trend which would seem to indicate that if the company meets its goals that it will provide greater long-term financial safety for creditors.

The Earnings before Taxes to Total Assets Ratio expresses the pre-tax return on total assets and measures the effectiveness of management in employing available resources. Since this ratio is above industry averages, the company would be more efficient than the industry in its effective employment of resources.

The Revenue to Total Assets Ratio is a general measure of ability to generate revenue in relation to total assets. This ratio is above industry averages which can indicate that the company is efficient in using available resources to generate revenue as compared to the industry.

The Depreciation, Amortization to Revenue Ratio is a general measure of cost to generate revenue under the matching principal. Since this ratio is consistently below industry averages it would seem to indicate that the company is more efficient generating revenue as compared to the industry.

CONCLUSIONS & SUMMARY

We feel that the type of company and service we are proposing is hitting the market at just the right time. We plan to fully repay the loan by the end of the third year. However, we will schedule repayments over ten years to give us flexibility. By applying our conservative projections, income for the first year is expected to be $21,194 after taxes and debt service. This will rise to $76,822 in the second and $124,363 by the fifth year. The business should be open for business by spring of 1997.

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"Nursery." Business Plans Handbook. . Encyclopedia.com. 18 Aug. 2017 <http://www.encyclopedia.com>.

"Nursery." Business Plans Handbook. . Encyclopedia.com. (August 18, 2017). http://www.encyclopedia.com/entrepreneurs/news-wires-white-papers-and-books/nursery

"Nursery." Business Plans Handbook. . Retrieved August 18, 2017 from Encyclopedia.com: http://www.encyclopedia.com/entrepreneurs/news-wires-white-papers-and-books/nursery

nursery

nurs·er·y / ˈnərs(ə)rē/ • n. (pl. -er·ies) a room in a house for the special use of young children. ∎  a place where young children are cared for during the working day; a nursery school. ∎  a place where young plants and trees are grown for sale or for planting elsewhere. ∎  a place or natural habitat that breeds or supports animals: this estuary provides a vast nursery for fish. ∎  an institution or environment in which certain types of people or qualities are fostered or bred: that nursery of traitors.

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"nursery." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. 18 Aug. 2017 <http://www.encyclopedia.com>.

"nursery." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. (August 18, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/nursery-0

"nursery." The Oxford Pocket Dictionary of Current English. . Retrieved August 18, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/nursery-0

Nursery

Nursery

place where people are fostered or developed; a collection of plants.

Examples: nursery of evil, 1606; of kernels and stones, 1664; of racoons; of soldiers, 1839; of ungodliness, 1583; of vices, 1604; of blooming youth, 1820.

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"Nursery." Dictionary of Collective Nouns and Group Terms. . Encyclopedia.com. 18 Aug. 2017 <http://www.encyclopedia.com>.

"Nursery." Dictionary of Collective Nouns and Group Terms. . Encyclopedia.com. (August 18, 2017). http://www.encyclopedia.com/education/dictionaries-thesauruses-pictures-and-press-releases/nursery

"Nursery." Dictionary of Collective Nouns and Group Terms. . Retrieved August 18, 2017 from Encyclopedia.com: http://www.encyclopedia.com/education/dictionaries-thesauruses-pictures-and-press-releases/nursery

nursery

nurserybeery, bleary, cheery, dearie, dreary, Dun Laoghaire, eerie, eyrie (US aerie), Kashmiri, leery, peri, praemunire, query, smeary, teary, theory, weary •Deirdre • incendiary • intermediary •subsidiary •auxiliary, ciliary, domiciliary •apiary • topiary • farriery • furriery •justiciary •bestiary, vestiary •breviary • aviary • hosiery •diary, enquiry, expiry, fiery, friary, inquiry, miry, priory, spiry, wiry •podiatry, psychiatry •dowry, floury, flowery, loury, showery, towery •brewery • jewellery (US jewelry) •curie, de jure, fioriture, fury, houri, Jewry, jury, Manipuri, Missouri, moory, Newry, tandoori, Urey •statuary • actuary • sanctuary •obituary • sumptuary • voluptuary •January • electuary • ossuary •mortuary •Bradbury, Cadbury •blackberry, hackberry •cranberry • waxberry •Barbary, barberry •Shaftesbury • raspberry •bayberry, blaeberry •Avebury • Aylesbury • Sainsbury •bilberry, tilbury •bribery •corroboree, jobbery, robbery, slobbery, snobbery •dogberry • Roddenberry • Fosbury •strawberry • Salisbury •crowberry, snowberry •chokeberry •Rosebery, Shrewsbury •blueberry, dewberry •Dewsbury • Bloomsbury • gooseberry •blubbery, rubbery, shrubbery •Sudbury • mulberry • huckleberry •Bunbury • husbandry • loganberry •Canterbury • Glastonbury •Burberry, turbary •hatchery • archery •lechery, treachery •stitchery, witchery •debauchery • butchery • camaraderie •cindery, tindery •industry • dromedary • lapidary •spidery • bindery • doddery •quandary • powdery • boundary •bouldery • embroidery •prudery, rudery •do-goodery • shuddery • thundery •prebendary • legendary • secondary •amphorae • wafery •midwifery, periphery •infantry • housewifery • spoofery •puffery • sulphury (US sulfury) •Calgary •beggary, Gregory •vagary •piggery, priggery, whiggery •brigandry • bigotry • allegory •vinegary • category • subcategory •hoggery, toggery •pettifoggery • demagoguery •roguery • sugary •buggery, skulduggery, snuggery, thuggery •Hungary • humbuggery •ironmongery • lingerie • treasury •usury • menagerie • pageantry •Marjorie • kedgeree • gingery •imagery • orangery • savagery •forgery • soldiery • drudgery •perjury, surgery •microsurgery •hackery, quackery, Thackeray, Zachary •mountebankery • knick-knackery •gimcrackery • peccary • grotesquerie •bakery, fakery, jacquerie •chickaree, chicory, hickory, Terpsichore, trickery •whiskery • apothecary •crockery, mockery, rockery •falconry • jiggery-pokery •cookery, crookery, rookery •brusquerie •puckery, succory •cuckoldry •calorie, gallery, Malory, salary, Valerie •saddlery • balladry • gallantry •kilocalorie • diablerie • chandlery •harlotry • celery • pedlary •exemplary •helotry, zealotry •nailery, raillery •Tuileries •ancillary, artillery, capillary, codicillary, distillery, fibrillary, fritillary, Hilary, maxillary, pillory •mamillary • tutelary • corollary •bardolatry, hagiolatry, iconolatry, idolatry •cajolery, drollery •foolery, tomfoolery •constabulary, vocabulary •scapulary • capitulary • formulary •scullery • jugglery • cutlery •chancellery • epistolary • burglary •mammary • fragmentary •passementerie • flimflammery •armory, armoury, gendarmerie •almonry •emery, memory •creamery • shimmery • primary •rosemary • yeomanry •parfumerie, perfumery •flummery, Montgomery, mummery, summary, summery •gossamery • customary • infirmary •cannery, granary, tannery •canonry •antennary, bimillenary, millenary, venery •tenantry • chicanery •beanery, bicentenary, catenary, centenary, deanery, greenery, machinery, plenary, scenery, senary, septenary •disciplinary, interdisciplinary •hymnary • missionary •ordinary, subordinary •valetudinary • imaginary • millinery •culinary • seminary • preliminary •luminary • urinary • veterinary •mercenary • sanguinary •binary, finery, pinery, quinary, vinery, winery •Connery • Conakry • ornery • joinery •buffoonery, poltroonery, sublunary, superlunary •gunnery, nunnery •consuetudinary • visionary •exclusionary • legionary • pulmonary •coronary • reactionary • expansionary •concessionary, confessionary, discretionary •confectionery, insurrectionary, lectionary •deflationary, inflationary, probationary, stationary, stationery •expeditionary, petitionary, prohibitionary, traditionary, transitionary •dictionary • cautionary •ablutionary, counter-revolutionary, devolutionary, elocutionary, evolutionary, revolutionary, substitutionary •functionary •diversionary, reversionary •fernery, quaternary, ternary •peppery • extempore • weaponry •apery, drapery, japery, napery, papery, vapoury (US vapory) •frippery, slippery •coppery, foppery •popery • dupery • trumpery •February • heraldry • knight-errantry •arbitrary • registrary • library •contrary • horary • supernumerary •itinerary • honorary • funerary •contemporary, extemporary, temporary •literary • brasserie • chancery •accessory, intercessory, pessary, possessory, tesserae •dispensary, incensory, ostensory, sensory, suspensory •tracery •pâtisserie, rotisserie •emissary • dimissory •commissary, promissory •janissary • necessary • derisory •glossary • responsory • sorcery •grocery • greengrocery •delusory, illusory •compulsory • vavasory • adversary •anniversary, bursary, cursory, mercery, nursery •haberdashery •evidentiary, penitentiary, plenipotentiary, residentiary •beneficiary, fishery, judiciary •noshery • gaucherie • fiduciary •luxury • tertiary •battery, cattery, chattery, flattery, tattery •factory, manufactory, olfactory, phylactery, refractory, satisfactory •artery, martyry, Tartary •mastery, plastery •directory, ex-directory, interjectory, rectory, refectory, trajectory •peremptory •alimentary, complementary, complimentary, documentary, elementary, parliamentary, rudimentary, sedimentary, supplementary, testamentary •investigatory •adulatory, aleatory, approbatory, celebratory, clarificatory, classificatory, commendatory, congratulatory, consecratory, denigratory, elevatory, gyratory, incantatory, incubatory, intimidatory, modificatory, participatory, placatory, pulsatory, purificatory, reificatory, revelatory, rotatory •natatory • elucidatory • castigatory •mitigatory • justificatory •imprecatory • equivocatory •flagellatory • execratory • innovatory •eatery, excretory •glittery, jittery, skittery, twittery •benedictory, contradictory, maledictory, valedictory, victory •printery, splintery •consistory, history, mystery •presbytery •inhibitory, prohibitory •hereditary • auditory • budgetary •military, paramilitary •solitary • cemetery • limitary •vomitory • dormitory • fumitory •interplanetary, planetary, sanitary •primogenitary • dignitary •admonitory, monitory •unitary • monetary • territory •secretary • undersecretary •plebiscitary • repository • baptistery •transitory •depositary, depository, expository, suppository •niterie •Godwottery, lottery, pottery, tottery •bottomry • watery • psaltery •coterie, notary, protonotary, rotary, votary •upholstery •bijouterie, charcuterie, circumlocutory •persecutory • statutory • salutary •executory •contributory, retributory, tributary •interlocutory •buttery, fluttery •introductory • adultery • effrontery •perfunctory • blustery • mediatory •retaliatory • conciliatory • expiatory •denunciatory, renunciatory •appreciatory, depreciatory •initiatory, propitiatory •dietary, proprietary •extenuatory •mandatary, mandatory •predatory • sedentary • laudatory •prefatory • offertory • negatory •obligatory •derogatory, interrogatory, supererogatory •nugatory •expurgatory, objurgatory, purgatory •precatory •explicatory, indicatory, vindicatory •confiscatory, piscatory •dedicatory • judicatory •qualificatory • pacificatory •supplicatory •communicatory, excommunicatory •masticatory • prognosticatory •invocatory • obfuscatory •revocatory • charlatanry •depilatory, dilatory, oscillatory •assimilatory • consolatory •voluntary • emasculatory •ejaculatory •ambulatory, circumambulatory, perambulatory •regulatory •articulatory, gesticulatory •manipulatory • copulatory •expostulatory • circulatory •amatory, declamatory, defamatory, exclamatory, inflammatory, proclamatory •crematory • segmentary •lachrymatory •commentary, promontory •informatory, reformatory •momentary •affirmatory, confirmatory •explanatory • damnatory •condemnatory •cosignatory, signatory •combinatory •discriminatory, eliminatory, incriminatory, recriminatory •comminatory • exterminatory •hallucinatory • procrastinatory •monastery • repertory •emancipatory • anticipatory •exculpatory, inculpatory •declaratory, preparatory •respiratory • perspiratory •vibratory •migratory, transmigratory •exploratory, laboratory, oratory •inauguratory • adjuratory •corroboratory • reverberatory •refrigeratory • compensatory •desultory • dysentery •exhortatory, hortatory •salutatory • gustatory • lavatory •inventory •conservatory, observatory •improvisatory •accusatory, excusatory •lathery •feathery, heathery, leathery •dithery, slithery •carvery •reverie, severy •Avery, bravery, knavery, quavery, Savery, savory, savoury, slavery, wavery •thievery •livery, quivery, shivery •silvery •ivory, salivary •ovary •discovery, recovery •servery • equerry • reliquary •antiquary • cassowary • stipendiary •colliery • pecuniary • chinoiserie •misery • wizardry • citizenry •advisory, provisory, revisory, supervisory •causerie, rosary

Cite this article
Pick a style below, and copy the text for your bibliography.

  • MLA
  • Chicago
  • APA

"nursery." Oxford Dictionary of Rhymes. . Encyclopedia.com. 18 Aug. 2017 <http://www.encyclopedia.com>.

"nursery." Oxford Dictionary of Rhymes. . Encyclopedia.com. (August 18, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/nursery

"nursery." Oxford Dictionary of Rhymes. . Retrieved August 18, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/nursery