1.0 Executive Summary 2
1.1 Objectives 2
1.2 Mission 3
2.0 Company Summary 3
2.1 Start-up Summary 4
2.2 Company Ownership 5
3.0 Services 5
4.0 Market Analysis Summary 7
4.1 Market Segmentation 7
4.2 Target Market Segment Strategy 8
4.3 Service Business Analysis 9
4.3.1 Competition and Buying Patterns 9
5.0 Strategy and Implementation Summary 10
5.1 Competitive Edge 10
5.2 Marketing Strategy 10
5.3 Sales Strategy 11
5.3.1 Sales Forecast 12
5.4 Milestones 16
6.0 Web Plan Summary 16
7.0 Management Summary 17
7.1 Personnel Plan 18
8.0 Financial Plan 19
8.1 Important Assumptions 19
8.2 Projected Profit and Loss 20
8.3 Projected Cash Flow 21
8.4 Projected Balance Sheet 22
1.0 Executive Summary
Social dancing means community. Co-operative, rather than competitive. It means respect for those whom we dance with, whether they be partners or others with whom we share the dance floor. It means taking care that everyone has a good time, rather than being selfish and self-centred. It means being sociable, rather than a show-off. It means dancing with everyone, not just favourite partners, and usually it means changing partners every dance. It means being civil in partnering, waiting until the music starts, before asking someone to dance. It means inclusive, rather than exclusive. (The term “dance community” is open, in the sense that it includes all those with an interest in dancing, rather than only those who belong to something, or have taken training. So people are seeking schools where they can learn.
El Ritmo Dance company is dedicated to bringing quality and affordable dance instruction to Rostov on Don. There is a very active and dedicated social dance community already located in Rostov on Don. However, there has never been an actual dance studio, where these people can expand their knowledge of dance and enjoy being with other people of like interests. It is our plan to incorporate the existing dance community into our studio to begin with a strong base of supporters. From there we will be able to spread the word that dancing is a fun and exciting way to spend time. There are many benefits to dancing that will attract people from many backgrounds and interests.
The following are goals and objectives of El Ritmo Dance for Year 2010 through Year 2012 :
?Create a dance studio with a warm, supportive atmosphere, which is based on satisfying customers.
?Provide a social and entertainment forum for people with diverse interests, backgrounds and ages.
?Provide dance training for students at all levels of dance, from beginner to advanced.
?Provide continual training, benefits and incentives for staff to encourage a long-term commitment of employees.
El Ritmo Dance offers a place where people can learn to dance, meet new people, have fun and feel comfortable. We offer a varied dance program with price options for all levels of interest, with greater emphasis on group classes and small package sessions to reach dance skill objectives. Our instructors have access to continual training on different social dance congresses. This provides our students with up-to-date steps and technique and access to the latest dance trends.
2.0 Company Summary
El Ritmo Dance, soon to be located in Rostov on Don, Russia, will provide the community with a comfortable, friendly environment in which to learn the art of social dancing. El Ritmo Dance will offer private dance instruction, group classes, social dance parties and rental facilities for local events.
Social dancing (such as Salsa, Swing, Argentinian Tango, Lindy Hop, Bachata, Social Cha cha cha) as well as an art, has become increasingly popular worldwide. As a result, the studio can expect to attract a wide cross section of customers. El Ritmo Dance will appeal to people of all ages, abilities and backgrounds, looking for creative self expression, exercise and/or social opportunities through dance.
2.1 Start-up Summary
El Ritmo Dance’s start-up costs are based on an assumption that it will lease space at the Lendvorets. This space is ready for occupancy but will need a few minor renovations. The renovations include building out an office on the main floor and a caterer kitchen.
The other category includes items such as memberships to the Chamber of Commerce, Visitor and Convention Bureau, and anything else that we may have forgotten or underestimated.
The current assets include the deposit of € 6,000. Long-term assets include items which will need to be purchased for the business.
We are not currently requesting a loan, but may need to for operating costs if the sales forecast is less that anticipated. The owners are investing € 25,000 initially.
Start up Requirements
Office supplies, Stationary €250
Grand Opening €2500
Total Start-up Expenses €4775
Cash Required €5375
Other Current Assets €6000
Long-term Assets €8850
Total Assets €20225
Total Requirements €25000
Start-up Expenses to Fund €4,775
Start-up Assets to Fund €20,225
Total Funding Required €25,000
Non-cash Assets from Start-up €14,850
Cash Requirements from Start-up €5,375
Additional Cash Raised €0
Cash Balance on Starting Date €5,475
Total Assets €20,225
Liabilities and Capital
Current Borrowing €0
Long-term Liabilities €0
Accounts Payable (Outstanding Bills) €0
Other Current Liabilities (interest-free) €0
Total Liabilities €0
Owner Loan/Investment €25,000
Additional Investment Requirement €0
Total Planned Investment €25,000
Loss at Start-up (Start-up Expenses) €4,775
Total Capital €20,225
Total Capital and Liabilities €20,225
Total Funding €25,000
2.2 Company Ownership
El Ritmo Dance is a Limited Liability Company owned and operated by Marina Vanyushina and Genadiy Vanyushin.
El Ritmo Dance is dedicated to bringing the fun and challenge of dancing to Rostov on Don at an affordable cost. We will offer private and group dance instruction for social through competitive level dancers. El Ritmo Dance will also provide a place for dancers to use the skills they have learned, by having weekly dance parties, seasonal/holiday dances and annual social dance congress.
El Ritmo Dance will offer its students a variety of instructional choices. By offering them several options, we can best serve their individual needs.
Private Lessons offer students the best value for their investment. With a private lesson, the students will work one-on-one with an instructor, receiving personalized instruction and immediate correction. Through experiencing the physical sensation of connected movement, the student is able to confidently replicate that movement in order to provide a pleasant and comfortable experience to other partners. In learning the best methods, one-on-one, both beginning and advanced students will find they progress faster and more easily, as they enjoy the sensation of partner dancing.
Group Classes are both an introduction to the experience of dancing with different partners, and a chance for the students to become familiar with a variety of step patterns. Rotation of partners, throughout the class allows dancers to practice steps with different partners. This format promotes comfort in dancing with several partners, as well as the communication that goes along with sharing a learned experience. Group lessons will be available every week in the traditional styles and latest club trends. Classes will be offered at every level, from basic beginner through advanced competitive styling. In addition, specialty classes will be offered for children and teens.
Practice Dances will be held once a week to allow students an opportunity to practice the dances learned, in an environment with other students learning the same thing. Instructors will circulate on the dance floor, assisting with questions or demonstration of steps, as well as to dance with students.
We will offer classes for the following social dance:
• Salsa LA
• Salsa Casino
• Salsa NY
• Cuban Cha cha cha
• Lindy Hop
• Argentinian Tango
Facility Rental will be another service offering. The Lendvorets is currently a very popular place in Rostov on Don for weddings, receptions, musical events, etc.
4.0 Market Analysis Summary
Social Dancing is an industry that now continuing to grow. According to a recent press release by 1TV-Television, more than one million people enroll in social dance classes each year. Since 1985, the number of dancers has increased by 25% each year.
The timeless popularity of social dancing, combined with the growing interest in the trendy dances, has proven to be a winning combination around the world. We are confident it will produce the same results in Rostov on Don.
4.1 Market Segmentation
According to the information published by the Rostov on Don Chamber of Commerce, Rostov on Don had a total 1.300 million people (2009). It is the 10th biggest city in the Russian Federation. Together with its Rostov agglomeration, population of the city is 1.8 million people (6th place in the country).
El Ritmo Dance feels that the populations of Rostov on Don are all potential customers. We have divided these potential customers into the following groups:
?Children/Teens (19 yrs. and under).
?College Students/Young Adults (20-24 yrs.)
?Single and Married Adults (25-55 yrs.)
4.2 Target Market Segment Strategy
Everyone who has the ability to walk can learn to dance. It is our job to present dance to these people and introduce and develop interest in the community for social dance.
For children and teens it is important to show the fun in dance. We can introduce Social Dance through Junior and Senior High School.
To colleges’ students we are going to introduce social dance through free open dance classes in universities and colleges in the city. Young adults will be introducing to dance through social dance parties in different night clubs and fitness clubs. We also plan to work with the Universities to offer classes to their students for credit.
Single and married adults between the ages of 25 and 55 have traditionally been the biggest supporters of the social dance studio community. This group is generally looking for new things to try and do. For singles we offer another way to meet people, and date. We will also have special wedding packages, which offer the new couple options for learning their first dance. For married couples dance is something new to learn together and provides a great social outlet. By working with the local clubs, we can be sure there are places for people to use the dance they are learning and in turn spread dance further into the community.
4.3 Service Business Analysis
The social dance industry has experienced substantial growth at the rate of 25% each year since 1985. There are some key factors for the rise in demand for dance instruction and places to partnership dance:
•The popularity of trendy dances like Lindy Hop, Argentinian Tango, and Salsa have made an impact on the number of people wanting to learn how to dance.
•The popularity of partnership dancing has grown immensely in the last decade. Those who are familiar with dance are well aware of how fun and addicting an evening of dancing can be. Those who have not yet experienced the thrill of moving gracefully around the dance floor with a partner, need a convenient, relaxed atmosphere, where they can feel comfortable learning and utilizing current popular dances.
El Ritmo Dance seeks to provide its customers with affordable quality instruction in a fun and supportive environment.
4.3.1 Competition and Buying Patterns
There are currently no other social dance studios in Rostov on Don. However, there are a few independent dance teachers, who teach classes at local bars, or rent floor space. There is also a local group, Dance Connection, that holds dances on Friday nights at the Ludi club. This group does not have a studio and its main purpose is to find places for people to dance and enjoy themselves.
El Ritmo Dance marketing strategy will target people who wish to get more for their investment in dancing. A large variety of dance lesson packages and programs will be offered in an effort to make dancing affordable. Teachers will be highly skilled and professional, keeping with the image of the studio. The studio will be an elegant place to come, where customer service is number one. Marketing venues will include placement advertisement, direct mail, Internet Web page and open free dance lessons.
El Ritmo Dance sales strategy will be based on a consultative style where the customers and teachers work together to identify and plan a course of action to satisfy the customer. Teachers will participate in continuous consultative sales training and receive regular sales coaching where the identification of customer buying criteria will be paramount. Sales closes will be based on demonstration of satisfying the customer criteria.
5.0 Strategy and Implementation Summary
5.1 Competitive Edge
As previously mentioned, there is currently no other social dance studio in Rostov on Don. This automatically gives El Ritmo Dance a competitive edge on the market. However, we do not plan to sit back and think that people will come to us if we wait. Because Rostov on Don is not used to having a dance studio, this gives us the challenge of introducing the benefits of having a dance studio.
We plan to keep our prices in line with the lower cost of living expenses of the Rostov on Don area. We will offer a wide variety of very competitive packages. Our teachers will be trained in the latest trends and with up-to-date styling of today’s dances. We plan to partner with many of the studios in Russia so that we can keep up with the trends of the big city and offer more variety to our students.
5.2 Marketing Strategy
Our marketing plan will be very simple. Satisfy our customers and provide them with the desire to continue dancing. A happy customer will not only keep coming back, but they will tell other people about El Ritmo Dance.
We will market fun! What better product could we possibly have than that?! Our biggest challenge will be getting people who have never been in a dance studio before to come and try us out. Many people have never considered taking dance lessons before. Our marketing message will emphasize the opportunity to meet people, to enhance the quality of leisure time, to gain health benefits and gain life-long skills that will give them respect from their peers.
We will advertise in the yellow pages, local newspapers, flyers, coupons, discount books, radio, and signs around town.
5.3 Sales Strategy
One of our marketing strategies is to advertise discount specials or introductory offers. These are designed to introduce people to the different dances our studio offers, and the dances our customers want to learn. Our instructors will work with the customer on these specials to discover what it is they are looking for in dance, and to outline a course that suits the customer’s wants and needs. When a course outline is agreed upon by customer and instructor they will meet with a manager for a brief consultation to make sure the customer is satisfied with the lesson outline and that the course will meet the expectations of the customer. The customer will then sign up for the lessons by contract and commit to a series of appointments; the studio also commits to these appointments.
We will offer a variety of courses, all mixed with combinations of private lessons, group lessons, and practice parties. Our course outlines will follow industry standards of recognized progression in dance, referred to as program dancing.
El Ritmo Dance also offers the ability for customers to take group class packages. These may be more affordable, and although take longer for advancement, might be more preferable to some of our customers.
In addition El Ritmo Dance offers something unique from other dance studios, which is a membership card.
There are three different memberships offered:
•The Basic, which allows unlimited admission to dance parties as well as discounts to special events.
•The Gold, which allows limited access to group classes, unlimited admission to dance parties, five party guest passes, and discounts on special events.
•The Platinum, which allows unlimited access to group classes, unlimited admission to parties, ten party guest passes, and discounts to special events. These memberships will last one year.
El Ritmo Dance will offer discounts for larger dance packages. All payments for dance lessons will be collected at time of purchase. Customers may be given 30 days to pay with a down payment of 50%. We will accept payment in the form of cash, check, or credit card.
5.3.1 Sales Forecast
This sales forecast is an estimation on the number of customers we acquire while open, and an average cost of lesson outlines. The Social Basics Introductory special is averaged at €25, but this may vary depending on the special running that month. The special is not an accurate count for the cost of lessons, and is used primarily to bring people who may be interested to our studio so that they may continue with more lessons. We are forecasting that we will sell 20 Introductory packages in our first month, and 30 each month there after, as this is what we can handle with the hours we have available.
The Social Foundation average package price is €360. It is an average price based on the assumption that students would buy a package containing 12 private lessons and 12 group lessons. We offer a 20% for paying in cash, and have therefore shown €300 for our package price to show the discount. We are forecasting to sell a social foundation dance package to 25% of the people who come to take the introductory special.
Bronze I is priced at €600, and is based on the assumption that students would buy this package with 19 privates and 25 groups. We offer a 20% discount to people who pay cash for their lesson, and show this in our forecast by making this package show at €500. We are forecasting to sell a bronze dance package to 50% of the people who bought the social foundation package.
Bronze II is priced at €720, and based on the assumption that students would buy a package containing 24 privates and 24 groups. We offer a 20% discount for paying in cash, and show this in our forecast by showing this package price at €600. We do not expect to sell any Bronze II packages the first couple of months. Starting on the third month we are forecasting to sell 50% of those that were in Bronze I.
Silver I and Silver II €810. These are both based on the assumption that the student buys a package of 27 privates and 27 groups. We offer a 20% discount for students who pay in cash, and have shown this in our forecast with our package being €675. Starting in the fifth month we are forecasting to sell at least two Silver I dance package per month. We have estimated that we will not sell any Silver II packages until the end of the first year of business.
We have kept our estimates low, knowing that we are not only a new business but a new type of business in this community, trying to break through with our marketing. Therefore, we are showing a 25% closing ratio for new students. That is saying that 25% of the customers who come in for the introductory special will buy the next level of dance, Social Foundation package. We then show a 50% closing ratio for existing student, 50% of Social Foundation customers will move on to Bronze I, etc. Mary’s previous sales results were 70% (out of every ten potential customers she sold a dance package to seven).
Memberships were forecasted to show that people would buy the Gold at €300 each. We forecast to sell an average of five memberships per month, with that average increasing to 10 during the peak months of November-February.
Miscellaneous sales include series group classes and kids group classes averaged at 10 people per class.
Weekly dances will be held each Friday night. We will charge €2.5 per person plus €1.5 if they come for the pre-dance lesson.
The Lendvorets is currently reported as bringing in about €15 to €20K per year in space rentals. We will continue to rent out this space and increase the advertising.
Other category includes one time privates lessons, special services (i.e. DJ service, lesson packages for special events, wedding packages, etc.).
2010 2011 2012
Introductory Specials-Social Basics €9,000 €10,350 €11, 902
Social Foundation Syllabus €28,800 €33,120 €38,088
Bronze 1 Syllabus €24,000 €27,600 €31,740
Bronze 2 Syllabus €24,000 €27,600 €31,740
Silver 1 Syllabus €10,800 €12,420 €14,283
Silver 2 Syllabus €1,350 €1,552 €1,785
Memberships €24,000 €27600 €31,740
Miscellaneous Packages €4,665 €5,365 €6,169
Weekly Dances €6,000 €6,900 €7,935
Space Rental €16,930 €19,469 €22,365
Other €1,450 €1667 €1,917
Total Sales €150995 €173644 €199,691
Direct Cost of Sales 2010 2011 2012
Introductory Specials-Social Basics €0 €0 €0
Social Foundation Syllabus €4,896 €5,630 €6,475
Bronze 1 Syllabus €4,080 €4,692 €5,396
Bronze 2 Syllabus €4,080 €4,692 €5,396
Silver 1 Syllabus €1,836 €2,111 €2,428
Silver 2 Syllabus €230 €264 €303
Memberships €0 €0 €0
Miscellaneous Packages €0 €0 €0
Weekly Dances €0 €0 €0
Space Rental €0 €0 €0
Other €0 €0 €0
Subtotal Direct Cost of Sales €15,122 €17,390 €19,998
The following milestones reflect an approximate timeframe and cost for beginning and completing actions that will be needed to get El Ritmo Dance up and running. Our goal is to open our doors to customers and begin teaching dance by September 1st, 2010. We realize this date is subject to the timeframe for renovation completion, permits, etc. and may need to be adjusted.
Milestone Start Date End Date Budget Manager Department
Legal 6/1/2010 9/1/2010 €325 Both Marketing
Develop Web Site 4/1/2010 4/5/2010 €45 Marina Vanyushina Marketing
Train New Teachers 4/15/2010 9/1/2010 €0 Marina Vanyushina Marketing
File for State Business License
6/1/2010 7/1/2010 €0 Genadiy Vanyushin Marketing
File for City Permits 6/1/2010 7/1/2010 €0 Genadiy Vanyushin Marketing
Negotiate Lease 6/1/2010 9/1/2010 €0 Both Marketing
Order Tables and Chairs 7/1/2010 8/1/2010 €1,875 Both Web
Purchase Sound System 8/1/2010 9/1/2010 €1,000 Both Web
Renovate Space 7/1/2010 9/1/2010 €0 Both Department
Acquire Insurance 6/1/2010 8/1/2010 €1,000 Genadiy Vanyushin Department
Create Calendar of Events
7/1/2010 9/1/2010 €50 Marina Vanyushina Department
Open Doors for Business 9/1/2010 9/1/2010 €0 Both Department
Begin Advertising 7/1/2010 9/1/2010 €1,000 Genadiy Vanyushin Department
Grand Opening 11/2/2002 11/2/2002 €1,500 Both Department
6.0 Web Plan Summary
El Ritmo Dance has a Web page, www.elritmodance.ru, that is designed to provide a convenient way for people to discover our studio. For marketing purposes the Web page will be linked to other dance Web sites and, since it has dance in the title, it will show up on different search engines. Our students will be able to use the Web site to look up group class schedules, upcoming events, studio news, and lesson prices. Students and prospective students will also be able to contact teachers via e-mail. Teachers will have the Web site on their business cards, and it will appear on our ads to offer people a chance to look at the space, meet the teachers and check prices, and ask questions before they enter the studio.
7.0 Management Summary
El Ritmo Dance will be a very small company with the two owners, Marina Vanyushina and Genadiy Vanyushin, responsible for managing and directing all activities.
Marina Vanyushina, owner and dance director, will primarily be responsible for the following:
•Teaching advanced students.
•Hiring, training and supervision of new instructors.
•Scheduling and planning the dance group lessons and special events.
•Creating dance lesson programs and packages.
Marina Vanyushina brings with her 10 years of experience as a dance instructor. She has knowledge of the operation of dance studios from her training with previous studio managers, and experience of management herself. She also brings with her, knowledge of the dance industry, the champions, the styles, and experience with previous students. Her 10 years of teaching have brought her many connections that can benefit El Ritmo Dance.
Genadiy Vanyushin, Owner and Business Director, will primarily be responsible for the following:
•Teach social foundation/bronze students
•Managing the accounting/financial aspect of the company
•Design and develop advertising and marketing strategies
7.1 Personnel Plan
A teacher training class began in April to train two teachers. These teachers will be given the training for free with an understanding that they are neither hired nor paid during this time. In exchange for this training, they will be offered a job, once El Ritmo Dance gets enough customers. Our goal is to have five part time/full time instructors by the end of 2010, which includes the two owners.
At some point in the future, we will see about hiring a receptionist.
2010 2011 2012
€32,500 €36,000 €42,000
€16,575 €20,000 €20,000
Other €0 €0 €0
5 5 5
€49,075 €56,000 €62,000
8.0 Financial Plan
We plan to use our own start-up cash to finance the business. The Lendvorets is a turn key building for this type of business, requiring very limited contract work for us to bring in. A kitchen space and office window are to be negotiated with the building owner. Our start-up requirements are business assets, teaching supplies, and advertising.
We want to finance growth mainly through cash flow.
8.1 Important Assumptions
The financial plan depends on important assumptions, most of which are shown in the following table as annual assumptions. From the beginning, we recognize that collection of payments for dance lesson packages is critical, however, not a factor we can influence easily. Interest rates, tax rates, and personnel burden are based on conservative assumptions.
Three of the more important underlying assumptions are:
•We assume that people in Rostov on Don will be interested in learning to dance and will give us a try.
•We assume that the area will continue to grow, as in the past, and at the projected rate of 5% per year.
•We assume that the Lendvorets will continue to be rented for events as in the past.
2010 2011 2012
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 30.00% 30.00% 30.00%
8.2 Projected Profit and Loss
Our projected profit and loss is shown on the following table, with sales increasing at a rate of 15% year over year. If we are able to meet our sales forecast, we will begin making a profit almost immediately. Traditionally in the dance business the slower months are in the mid-summer. However, the facility rental is higher in the Summer and should, therefore, supplement the slower teaching months.
Profit and Loss
2010 2011 2012
Sales €150,995 €173,644 €199,691
Direct Cost of Sales
€15,122 €17,390 €19,998
Other Production Expenses
€0 €0 €0
Total Cost of Sales
€15,122 €17,390 €19,998
€135873 €156254 €179,692
Gross Margin %
89.99% 89.99% 89.99%
Payroll €49,075 €56,000 €62,000
Sales and Marketing and Other Expenses
€22,550 €22,900 €26,250
Depreciation €1,770 €1,770 €1,770
Utilities €4,600 €5,000 €5,500
Telephone €1,200 €1,200 €1,200
Insurance €900 €900 €900
Rent €36,000 €36,000 €36,000
Payroll Taxes €4,907 €5,600 €6,200
Other €0 €0 €0
Total Operating Expenses
€120,902 €129,370 €141,176
Profit Before Interest and Taxes
€14,970 €26884 €38,516
EBITDA €16,740 €28654 €40,286
Interest Expense (€275) (€850) (€1,450)
Taxes Incurred €4573 €8,320 €11990
€10,672 €19,414 €27,976
Net Profit/Sales 7.07% 11.18% 14.01%
8.3 Projected Cash Flow
Cash flow projections are critical to our success. The annual cash flow figures are included here. The business will generate more than enough cash flow to cover all of its expenses.
2010 2011 2012
Cash from Operations
€150,995 €173,644 €199,691
Subtotal Cash from Operations
€150,995 €173,644 €199,691
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
€150,995 €173,644 €199,691
Expenditures 2010 2011 2012
Expenditures from Operations
€49,075 €56,000 €62,000
Bill Payments €81,830 €96,180 €107,000
Subtotal Spent on Operations
€130,905 €152,152 €169,000
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 €5,500 €6,000 €6,000
Purchase Other Current Assets €0 €0 €0
Purchase Long-term Assets €0 €0 €0
Dividends €0 €0 €0
Subtotal Cash Spent
€136,405 €158,180 €175,000
Net Cash Flow
€14,589 €15,464 €24,690
€19,964 €35,429 €60,119
8.4 Projected Balance Sheet
The balance sheet in the following table shows managed but sufficient growth of net worth, and a sufficiently healthy financial position.
2010 2011 2012
Cash €19,964 €35,429 €60,119
Other Current Assets
€6,000 €6,000 €6,000
Total Current Assets
€25,964 €41,429 €66,119
Long-term Assets €8,850 €8,850 €8,850
€1,770 €3,540 €5,310
Total Long-term Assets €7,080 €5,310 €3,540
€33,044 €46,739 €69,659
Liabilities and Capital 2010 2011 2012
Accounts Payable €7,648 €7,928 €8,872
Current Borrowing €0 €0 €0
Other Current Liabilities €0 €0 €0
Subtotal Current Liabilities €7,648 €7,928 €8,872
Long-term Liabilities (€5,500) (11,500) (€17,500)
Total Liabilities (€2,148) (€3,572) (€8,628)
Paid-in Capital €25,000 €25,000 €25,000
Retained Earnings (€4,775) (€5,897) (€25,311)
Earnings €10,672 €19,414 €27,976
Total Capital €30,897 €50,311 €78,287
Total Liabilities and Capital €33,044 €46,739 €69,659
Net Worth €30,897 €50,311 €78,287
El Ritmo Dance studio will create a place where people can learn to dance, meet new people, have fun, improve, create and feel comfortable. We offer a varied dance programs with price options for all levels of interest, with greater emphasis on group classes and small package sessions to reach dance skill objectives. Our instructors have access to continual training on different social dance congresses. This provides our students with up-to-date steps and technique and access to the latest dance trends. Everyone who has the ability to walk can learn to dance.