Islam It Is Averaged That There Are 750 Million People Practicing Isla

Islam It is averaged that there are 750 million people practicing Islam. Islam is actually derived form Christianity. History books indicates that one night in the year 610, the first of many revelations came to Muhammad from God by way of the angel Gabriel. The message Muhammad received told him that there was but one God, not many gods, as most Arabs believed. This God was creator of the world, and He would one day judge mankind. The word Islam means surrender or submission, submission to the will of Allah, the one God. Muslims are those who have submitted themselves. The basic creed of Islam is brief: There is no God but Allah, and Muhammad is the Prophet of Allah. slam teaches that there is one God, the creator and sustainer of the universe. This God, Allah, is compassionate and just. Because He is compassionate, He calls all people to believe in Him and worship Him. Because He is also just, on the Last Day He will judge every person according to his deeds. On the Last Day, all t he dead will be resurrected and either rewarded with heaven or punished with hell. The life of each Muslim is always within the community of the faithful, all are declared to be brothers to each other, with he mission to enjoin good and forbid evil. Within the community, Muslims are expected to establish social and economic justice. They are also expected to carry their message out to the rest of the world. In the early Islamic community, this meant the use of force in the form of jihad, or holy war. The object of jihad was to gain political control over societies and run them in accordance with the principles of Islam. During the decades following the death of Muhammad certain essential principles were singled out rom his teachings to serve as anchoring points for the Islamic community. These have come to be called the five pillars of Islam. The revelations that Muhammad received were collected into a new book, the Koran, directing his followers what to believe and how to live. Man y Muslims believed that everything Muhammad said and did was inspired by Allah, many reports of his sayings and deeds were collected. At first these were just remembered and spread by word of mouth. Later they were captured in writing, to serve as an additional guide for believers, along with the Koran. It was Muhammad's contention that Christianity had departed from belief in God's message as revealed in their Scriptures. God had sent many prophets, among them Abraham, who is considered the founder of the faith for Islam, as he is also for and Christianity. The Koran, using sources in the older Scriptures and later traditions, relates the stories of Abraham, Joseph, Moses and Aaron, David, Solomon, Jesus. After Muhammad's death in AD 632, it was feared that the content of the revelations might be lost, as those who had originally memorized it died. It was therefore decided to collect all the revelations, from what ever source, and make a compilation. Even at this early date, variat ions in the Korans revelations were becoming common in different parts of the new Islamic empire. An authorized version was created, with arrangement of putting the longer chapters first and the shorter one last. The hajj, pilgrimage, is an annual Muslim rite that every believer is expected to take part in at least once in his lifetime. From the seventh to the tenth day in Dhu al- Hijjah, the last month of the Islamic calendar, thousands of Muslims converge on the city of Mecca in Saudi Arabia to visit the holy shrine of the Kaaba in the Great Mosque. The pilgrimage culminates with the feast of sacrifice, one of the two major festivals that are celebrated during the Islamic year. The zakat is an obligatory tax, a contribution made by Muslims to the state or to the community. Bibliography -

Harvard Acceptance Letter Real and Official

Harvard Acceptance Letter Real and Official SAT / ACT Prep Online Guides and Tips Each year, Harvard receives nearly 40,000 applicationsfrom high school hopefuls. Only5% of them get a Harvard acceptance letter.For example, in 2015, Harvard College accepted 1,990 applicants from a record 37,307 applications for the Class of 2019. That’s a 5.3% admission rate.Unfortunately, the overwhelming majority of applicants get a rejection letter. â€Å"I am very sorry to inform you†¦Ã¢â‚¬ When I was in high school, I was one of the lucky few to apply Early Action and receive an acceptance letter in the mail. This validated years of hard work and made me giddy like I'd never been before for what came after high school.Here’s my complete, official Harvard acceptance letter. Want to learn what it takes to get a Harvard admit letter yourself? Read my How to Get Into Harvard and the Ivy League guide. I'll take you through the philosophy behind how to become the world-class student that schools like Harvard, Princeton, and Stanford are looking for. You'll learn what it means to develop an application Spike, why being well-rounded is the path to rejection, and how to craft a compelling application yourself. Read this guide now, before it's too late. Here's a scan of the original admissions letter sent to me by the Office of Admissions at Harvard College. (Thanks to my dad for keeping it around). This is for Early Action, though I'd bet the Regular Decision letter looks similar. Even though I was admitted to my other top choice schools (Princeton, MIT, Stanford especially), I ultimately decided to attend Harvard. Unlike Princeton and MIT, it hadleading graduate schools in every discipline (medicine, law, business), which made me believe it had the broadest set of opportunities and the most diverse community. Because of my interest in medicine and science at the time, it also had the broadest, richest research community. At the end of the day, I also felt like I would regret not attending Harvard more than any other school. After this letter, I'll give you tips on what it takes for you to get an acceptance letter like this for yourself. Harvard College Office of Admissions and Financial AidByerly Hall8 Garden StreetCambridge, Massachusetts 02139 Dear Mr. Cheng, I am delighted to inform you that the Committee on Admissions has admitted you to the Class of 2009 under the Early Action program. Please accept my personal congratulations for your outstanding achievements. In recent years, nearly twenty thousand students have applied for the sixteen hundred and fifty places in the freshman class. Faced with many more talented and highly qualified candidates than it has room to admit, the Admissions Committee has taken great care to choose individuals who present extraordinary academic, extracurricular and personal strengths. In making each admission decision, the Committee keeps in mind that the excellence of Harvard College depends most of all on the talent and promise of the people assembled here, particularly our students. In voting to offer you admission, the Committee has demonstrated its firm belief that you can make important contributions during your college years and beyond. By early March, you will receive an invitation to visit Harvard from Friday, April 29, to Sunday, May 1. Our faculty and students have arranged a special welcome for you and we think the experience will be interesting and useful in making your final college choice. Of course, we would also be happy to have you visit at some other time and we hope you will make a special effort to do so if you will be unable to join us in April. Especially if you cannot come to Cambridge during the next several months, please do not hesitate to contact us if we can be of help in any way. You will find our application booklet and our website (admissions.college.harvard.edu/) good sources of information about college life and we will be sending you a course catalog in the spring to help familiarize you with our academic opportunities. We are enclosing a statement about choosing a college that might be helpful. You have until May 1 to respond to our offer. However, we are enclosing with this letter a reply card for your use in case you are able to inform us of your decision before the May 1 reply date. A complete admission packet will be mailed to you in early April. We very much hope that you will decide to attend Harvard, and we look forward to having you join us in September. Yours sincerely, William R. Fitzsimmons Dean of Admissions and Financial Aid (Hope you will join us!) Want to get into Harvard or your personal top choice college? We can help. PrepScholar Admissions is the world's best admissions consulting service. We combine world-class admissions counselors with our data-driven, proprietary admissions strategies. We've overseen thousands of students get into their top choice schools, from state colleges to the Ivy League. Learn more about PrepScholar Admissions to maximize your chance of getting in. OK....Now What? You probably have a reason forlooking at this acceptance letter. Let me try to help you out. If you just received a rejection letter from Harvard, I'm sorry. When admissions officers say it's a really hard decision when it comes down to the wire, they're speaking the truth. The good news is that your future is almost entirely up to you. There are Harvard graduates who end upfloundering in life, and there are graduates from hundreds of other colleges (and people who don't even go to college) who end up accomplishing amazing things. You're in control of your own fate. So if you're disappointed about a Harvard rejection, I hope you pick yourself up and excel from this point forward. Here's a guide on good study habits to excel in academics. If you're in high school (or even earlier) and want to apply to Harvard, I hope this acceptance letter inspires you to want one of your own. Make no mistake, it took a lot of hard work to get to the point where I had a great chance at getting admitted to Harvard and passing their admission requirements. I had to strategize carefully and be ruthless about where I spent my time so I could balance a high GPA, challenging coursework, test scores, and demanding extracurricular activities. To help you out,I've written everything I know about succeeding in high school and college admissions. If you want your own Harvard acceptance letter, these are must-read guides: 1) How to Get Into Harvard and the Ivy League This is my foundational guide to help you understand what top colleges like the Ivy Leagues are looking for. Here you'll learn: what kinds of students are most attractive to Harvard and why why being well-rounded is the kiss of death in top college admissions what a Spike is and why an effective Spike will get you into every college you apply to how you can develop a Spike of your own I'm not saying it's easy, because it's not. But far too many students have the wrong idea about what kinds of students colleges are looking for. In the process, they waste far too much time on things that aren't important and do nothing to increase their chances of admission. Even worse, they end up miserable and constantly stressed. That's why I wrote this guide. Read it and you might totally change your application strategy before it's too late. 2) My Complete Successful Application to Harvard, Including Common App and Supplement To complement my "How to Get Into Harvard" guide, I share my entire college application, page by page, word for word. You'll see the exact application that the admissions committee at Harvard saw, including the Common Application, my transcript, personal essays, letters of recommendation, and Harvard supplement. I also provide commentary on every piece of my application. You'll see what was reallyimportant to get me into Harvard, and other things that weren't. You'll even see mistakes I made in my application. I've never seen anyone else provide this level of detail,so this is a special treat. 3) How to Get a 4.0 GPA and Better Grades Your coursework is one of the most important aspects of your college application. Not only do you need great grades, you need great grades in what Harvard says is "themost demanding college-preparatory program available." Thus it's no surprise that a lot of high school students are stressed out by coursework and the demands of college applications. Do you feel like you're taking too many AP courses and struggling to stay afloat? Consistently, I see that the biggest problems are with mindset, habits, and strategy.I've written a comprehensive guide with my complete set of strategies in how to excel in high school coursework. I take you through three levels of detail, from top-down: Mindset and Psychology: Do you have the confidence to know you can improve with hard work? Overall Planning and Habits: Do you get the most out of every hour? Do you understand what teachers care about, and how to give them what they want? Do you know how to combat procrastination? Individual Class Strategies: How should you be treating English and science classes differently? I learned a lot of these lessons the hard way, throughout high school and college. This is the guide I wish I had before starting high school. Take the time to read it and you might save hundreds of hours of time and get even better grades. 4) How to Get a Perfect SAT Score/ How to Get a Perfect ACT Score In addition to coursework, the other major numbers piece to your application isyour SAT/ACT score. Simply put, this number is so important because it compares you on even ground to every other high school student taking the test. Top schools like Harvard expect you to be in the top 1 percentile of the country. If you're not, you'll cast serious doubt on your academic ability. In my perfect SAT and perfect ACT guides, I share the major strategies that you'll need to get above a 2100 on the SAT and 32 on the ACT. Also, check out my series on getting perfect scores in each of the sections on the SAT/ACT: SAT 800 Series: Reading | Math | Writing- Learn important strategies to excel in each section of the SAT. ACT 36 Series: English | Math | Reading | Science - Learn how to get a perfect 36 on each section of the ACT. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Truck Stop - Business Plan

Truck Stop - Business Plan 1.0 Executive SummaryInterstate Travel Center is intended to be the major travel center in Dallas, Texas. It will consist of a convenience store, gas/diesel islands, restaurant, and amenities for the trucking business. Interstate Travel Center is a corporation owned and operated by Steve and Janet Smith.The company's management philosophy is based on responsibility and mutual respect. Interstate Travel Center has an environment and structure that encourages productivity and respect for customers and fellow employees.Interstate Travel Center is organized into two main functional areas: convenience stores of this type of freight are food and consumer staples delivered locally, and manufactured goods shipped between commercial establishments or delivered to consumers or retail outlets.Truckers have the largest share of the freight market. Unlike railroads, pipelines, or water carriers, they don't face geographic limits caused by physical constraints, and can offer door-to-door service. They also pay relatively little to use the nation's highway system. Railroads, by contrast, must build, maintain, and police their rights-of-way.The trucking industry consists of two broad segments: private and for-hire. In turn, for-hire truckers fall into two broad categories: truckload (TL) and less-than-truckload (LTL) carriers.The accompanying Market Analysis chart and table reflect the total projected potential customers that Interstate Travel Center might acquire. The categories have been simplified to include all instate commercial trucks (both the TL and LTL segments) and all instate private vehicles as listed in the U.S. Department of Transportation's 1997 Vehicle Inventory for the state of Texas. The listed number of private vehicles in Texas is approximately 17 million, however, only a small percentage of private vehicle owners will be inclined to prefer truck stops over gas stations. Therefore, instead of using the larger number, a percentage of the overall private vehi cles based on the percentage of private vehicles that truck stops service is used. The third category contains all interstate and NAFTA-based commercial business that passes through Texas, and the final category reflects all out-of-state private vehicles, such as tourists. Again, the numbers in this final category reflects a percentage of out-of-state private vehicles that truck stops normally service.The growth rates used in this table are based on figures available from the U.S. Department of Transportation. The growth rate for the out-of-state and NAFTA commercial vehicles is only approximate, as it is difficult to project what affects investments in the "Port-to-Plains" trade corridor will have on traffic that passes adjacent to the travel center.Finally, it must be noted that although the Market Analysis table indicates that the largest market segment is instate private vehicles, the actual percentage will probably be significantly less. Experience has shown that the largest pe rcentage of vehicles serviced by truck stops, such as Interstate Travel, is in the commercial truck segment.Market Analysis (Pie)Click to EnlargeMarket AnalysisPotential Customers Growth 2001 2002 2003 2004 2005 CAGRInstate Commercial Trucks 4% 500,102 517,606 535,722 554,472 573,879 3.50%Out-of-state Commercial Trucks 6% 285,111 302,218 320,351 339,572 359,946 6.00%Instate Private Vehicles 3% 1,286,952 1,325,561 1,365,328 1,406,288 1,448,477 3.00%Out-of-state Private Vehicles 4% 458,154 476,480 495,539 515,361 535,975 4.00%Total 3.63% 2,530,319 2,621,865 2,716,940 2,815,693 2,918,277 3.63%4.1 Market Segmentation [back to top]With some $344 billion in 1998 revenues, the trucking (or motor carrier) business claimed approximately 79% of the U.S. commercial freight transportation market. This total was divided among two sectors: private carriage and for-hire.Figure 3. Commercial Freight Distribution(In billions of dollars)Transportation Billion $ % of TotalTrucking, Total $344 63.6%Pri vate, Interstate $115 21.3%Private, Local $85 15.7%Truckload $65 12.0%Local For-Hire $40 7.4%LTL, National $9 1.7%LTL, Regional $11 2.0%Package/Express (ground) $19 3.5%Railroad $36 6.7%Pipeline (oil gas) $26 4.8%Air freight, Package Domestic $17 3.1%Air freight, Heavy Domestic $6 1.1%Water (Great Lakes/rivers) $7 1.3%Transportation Total* $436 80.6%DistributionWarehousing $70 12.9%Logistics Administration $35 6.5%Distribution Total $105 19.4%Total $541 100.0%*Excluding $5 billion in international cargo.Sources: Standard Poor's, Data Resources, Inc., and Cass Information Systems.Private CarriersAlthough private carriers comprise the largest component of the motor carrier industry, financial information isn't available for them. However, the industry is estimated to provide services valued at some $200 billion annually (or 58% of motor carrier revenues in 1998).The Private Truck Council estimates that there are more than three million trucks operated by private fleets, and these tr ansport 3.5 billion tons of freight annually.For-Hire CarriersThe For-hire category generated $144 billion in 1998, or 42% of the industry total. Of that $144 billion, some $105 billion (73% of the sector's business) came from truckload shipments, and $39 billion (27%) was from less-than-truckload and package/express delivery.Truckload (TL): The national for-hire truckload segment had total revenues of $65 billion in 1998. The TL sector is largely privately owned, with the exception of the top ten publicly owned companies. (For this reason, we focus on the LTL sector in this survey.) Schneider National Carriers is the largest TL operator, with revenues of $2.8 billion in 1998, followed by J.B. Hunt Transport Services ($1.8 billion) and the Landstar family of truckload carriers ($1.3 billion). Of the 50,000 truckload carriers, perhaps 95% have annual revenues of less than $1 million.Less-than-truckload (LTL): We estimate that the less-than-truckload market garnered $20 billion in 199 8. Of this amount, the fast growing regional segment accounted for slightly more than the national market.The largest national LTL carrier in 1998 was Roadway Express Inc., with $2.32 billion in LTL revenues in that year; the company's total revenue of $2.55 billion includes TL freight. Yellow Freight System (a unit of Yellow Corporation) was close behind, with $2.25 billion (out of $2.46 billion total). Consolidated Freightways Corporation was third, with $1.95 billion in LTL revenues.In the regional LTL market, Con-Way Transportation (a unit of CNF Transportation Inc.) was the largest player, with $1.5 billion in LTL revenue in 1998. Second place belonged to US Freightways, whose family of five carriers has generated some $1.4 billion in LTL revenue. American Freightways Corporation was third, with $928 million in LTL revenues.4.1.1 Market Trends [back to top]Industry TrendsWhile a driver shortage continues to plague the truckload sector, the LTL carriers have adapted to changing market conditions in order to capitalize on growth opportunities. Intermodal shippers also stand to benefit from market trends. Finally, the evolution of e-commerce stands to intensify competition among all carriers.E-commerce is Big BusinessThe Internet is rapidly changing how the consumer selects and purchases merchandise. Age-old relationships between vendors, distributors, retailers, and carriers are being torn apart. For many Internet users, the computer has displaced the telephone as a means of transmitting a purchase order, while catalog vendors who have put their wares on the Internet may now receive orders electronically, in addition to mail and phone orders. For the shipping industry, e-commerce is changing the way in which goods are ordered.The estimated size and growth potential for e-commerce varies widely. Forrester Research, based in Cambridge, Massachusetts, has estimated e-commerce at the consumer level at $7.8 billion in 1998, and projects that it will rise to $18 billion in 1999, $33 billion in 2000, and $108 billion in 2003. According to Forrester, total worldwide e-commerce, including business-to-business transactions, was estimated at $43 billion in 1998, and projected to hit $127 billion in 1999.The Direct Marketing Association has calculated that e-commerce generated just $5.9 billion in 1998 (or 0.2% of sales), and will climb to 2.5% of retail sales by 2004, representing a 50% annual compound growth rate during this period.4.1.2 Market Growth [back to top]Dallas SupportAccording to information released by the Texas Department of Transportation (TxDOT), nearly $600 million in projects are already programmed over the next four years, and more than $1 billion in additional transportation projects are recommended for the Dallas region. The projects are on top of a $175 million increase in NAFTA transportation funding through 2003 that was part of the border initiative announced in April, 1999.It is said that a Ports-To-Plains Trade Corrido r could be in the future for Dallas, making it a major port of entry to Mexico. The corridor has been named a high priority corridor by the U.S. Congress, which has placed a greater emphasis on improving transportation in these regions. The major highway would have a direct route from the northern United States to two major port entries: Dallas and Eagles Pass.4.2 Business Participants [back to top]Industry: Trucking Terminal FacilitiesFigure 4, below, indicates the Market Statistics for trucking terminals. These are defined as establishments primarily engaged in the operation of route transshipment facilities used by highway-type property-carrying vehicles, including complexes which provide maintenance and service for motor vehicles.Figure 4: Market Size Statistics-Terminal FacilitiesEstimated number of U.S. establishments 1,386Number of people employed in this industry 64,105Total annual sales in this industry $181 millionAverage employees per establishment 52Average sales per est ablishment $.8 millionIndustry: Gasoline Service StationsGasoline service stations primarily engage in selling gasoline and lubricating oils. These establishments frequently sell other merchandise, such as tires, batteries, and other automobile parts, or perform minor repair work. Gasoline stations, combined with other activities, such as grocery stores, convenience stores, or carwashes, are classified in Figure 5 below according to primary activity.Figure 5: Market Size Statistics-Gasoline Service StationsEstimated number of U.S. establishments 71,159Number of people employed in this industry 471,041Total annual sales in this industry $98,817 millionNumber of employees per establishment 7Average sales per establishment $1.8 millionMarket Analysis by SpecialtyFigure 6 provides a market analysis by specialty for the gasoline service stations segment.Figure 6: Market Analysis by SpecialtySIC Code SIC Description Number of Businesses % of Total Total Employees5541-0000 Gasoline Service Stations 50,544 71% 286,0625541-9901 Filling Stations, Gasoline 18,844 26.5% 137,8975541-9902 Marine Service Station 171 0.2% 1,1235541-9903 Truck Stops 1,600 2.2% 45,959Total/Average 71,159 100% 471,041Note: Not all establishments have a specialty.5.0 Strategy [back to top]Interstate Travel Center's strategy is to develop a major travel center in Dallas, Texas. The center will consist of a major convenience store, gas/diesel islands, restaurant, and amenities for the trucking business. Key components of the company's initial strategy are summarized as follows:Advertising. Promote the new business through extensive advertising.Location. Provide a clean, safe and appealing location for travelers.Convenient center. Provide a convenient center with a full array of products and services for those that are traveling as well as for the citizens of Dallas and the surrounding communities.One-stop shop. Be the one-stop shop for travelers to and from Dallas.NAFTA trucking trade business. Cat er to the NAFTA trucking trade business.Good return on investment. Maintain a profitable business with a good return on investment.Interstate Travel Center will be developed in four phases. Phase development will enable the owner/operator to introduce viable, profitable goods and services without over-building. Over-building at this location would be easy to do because of the slower growth of the area associated with NAFTA, it would also mean certain failure if the owner/operator cannot secure resources for several years of financial staying power to support a negative cash flow. The timeline for the implementation of the various phases is contingent upon customer response and profitability and action is initiated at the discretion of the owners. It is assumed that the implementation of Phase II will occur sometime after the first three years of operation.Phase I: Initial DevelopmentDiesel fueling lanes: four; dual-sided fueling.Gasoline MPDs: four dispensers.Travel Store: Approxima tely 3,000 square feet.Showers: Approximately four stalls.Truck Loungers.Game Room.Restaurant: Seating for 64-69 patrons.Truck Parking: room for approximately 100-150 trucks.Scales: Owner to purchase scales.Phase II: Increased Goods and Services, Third Year of OperationDiesel fueling lanes: add two for a total of six lanes.Truck parking: add 100-150 spaces.Phase III: Increased Goods and Services, Fifth Year of OperationDiesel fueling lanes: increase to eight dual-sided fueling.Gasoline MPDs: increase to six dispensers.Travel Store: Enlarge to 4,800 square feet.Showers: Add four for a total of eight stalls.Truck services: Add lease space for truck services such as tires, batteries, oil and lube.Phase IV: Increased Goods and Services, Sixth Year of OperationAdd fast food unit.Add additional restaurant seating for a total of 100 patrons.Motel: Add 48 room unit.Truck Parking: Add 100 spaces (Total 400-525).Truck Wash.5.1 Marketing and Sales [back to top]A small traveler's guide will be published to advertise the travel center and all it has to offer. Advertising will be disseminated through the use of local newspapers, and radio and television commercials. Other promotional items, such as billboards and local chamber of commerce propaganda will also be employed. Customer service will be the number one priority of this business. This will, in turn, generate repeat business.5.2 Sales Strategy [back to top]The sales figures are based on projections of vehicles using the major highways adjacent to Interstate Travel Center. The yearly growth figures are based on conservative projections of increasing customer use as marketing and customer retention builds an established customer base. The growth rate for gas/diesel is five percent per year for the first three years. The restaurant growth rate is slightly higher, at seven percent per year. It it assumed that this venture will grow a stable customer base more quickly than the other ventures due to its more unique product experience. Finally, the growth rates for the travel store is set at four percent per year. This again reflects the belief that this venture will have the most difficulty in building service awareness and retention.Sales MonthlyClick to EnlargeSales ForecastUnit Sales 2001 2002 2003Diesel (gallons) 2,550,000 2,677,500 2,811,375Gasoline (gallons) 1,050,000 1,102,500 1,157,625Travel Store 230,004 236,904 244,011Interstate Travel Restaurant 81,276 86,965 93,052Rebates, allowances, etc. 246,600 246,600 246,600Total Unit Sales 4,157,880 4,350,469 4,552,663Unit Prices 2001 2002 2003Diesel (gallons) $1.75 $1.75 $1.75Gasoline (gallons) $1.50 $1.50 $1.50Travel Store $3.75 $3.75 $3.75Interstate Travel Restaurant $13.00 $13.00 $13.00Rebates, allowances, etc. $1.00 $1.00 $1.00SalesDiesel (gallons) $4,462,500 $4,685,625 $4,919,906Gasoline (gallons) $1,575,000 $1,653,750 $1,736,438Travel Store $862,515 $888,390 $915,041Interstate Travel Restaurant $1,056,588 $1,130,545 $1,209,676Rebates, allowan ces, etc. $246,600 $246,600 $246,600Total Sales $8,203,203 $8,604,910 $9,027,661Direct Unit Costs 2001 2002 2003Diesel (gallons) $1.67 $1.67 $1.67Gasoline (gallons) $1.40 $1.40 $1.40Travel Store $0.75 $0.75 $0.75Interstate Travel Restaurant $2.00 $2.00 $2.00Rebates, allowances, etc. $0.00 $0.00 $0.00Direct Cost of Sales 2001 2002 2003Diesel (gallons) $4,258,500 $4,471,425 $4,694,996Gasoline (gallons) $1,470,000 $1,543,500 $1,620,675Travel Store $172,503 $177,678 $183,008Interstate Travel Restaurant $162,552 $173,930 $186,104Rebates, allowances, etc. $0 $0 $0Subtotal Direct Cost of Sales $6,063,555 $6,366,533 $6,684,7846.0 Management Summary [back to top]Steven and Janet Smith will be the sole owners of Interstate Travel Center for the foreseeable future. It is planned that a management staff, consisting of a full-time manager and a part-time assistant manager, will be hired to handle the day-to-day operations of both the gas/diesel service and the restaurant sections of the travel c enter. As the company continues to grow, so too will management.Personnel Plan2001 2002 2003Steve Smith $50,000 $50,000 $50,000Janet Smith $50,000 $50,000 $50,000Convenience store/Gas station Manager $31,200 $31,200 $31,200Restaurant Manager $36,000 $36,000 $36,000Assist Manager - Cook $28,800 $28,800 $28,800Cook 2 $26,880 $26,880 $26,880Cook 3 $26,880 $26,880 $26,880Cook 4 $26,880 $26,880 $26,880Cook 5 $26,880 $26,880 $26,880Cook 6 $26,880 $26,880 $26,880Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $11,808 $11,808 $11,808Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Waitress/Waiter $7,680 $7,680 $7,680Assist. Manager - Cashier $9,000 $9,000 $9,000Cashier $6,000 $6,000 $6,000Cashier $6,000 $6,0 00 $6,000Cashier $6,000 $6,000 $6,000Cashier $6,000 $6,000 $6,000Maintenance $9,600 $9,600 $9,600Total People 0 0 0Total Payroll $481,672 $481,672 $481,6727.0 Finance [back to top]The following topics outline the financials for Interstate Travel Center.7.1 Assumptions [back to top]The chart indicating the projected cash account does not take into account the investment needed to initiate Phases II-IV. The General Assumptions table states some of the more important business assumptions for the company.General Assumptions2001 2002 2003Plan Month 1 2 3Current Interest Rate 10.00% 10.00% 10.00%Long-term Interest Rate 10.00% 10.00% 10.00%Tax Rate 25.42% 25.00% 25.42%Other 0 0 07.2 Break-even Analysis [back to top]The break-even chart and table below describe how much money will need to be made to be profitable each month. As can be seen in the table, 224,821 units per month, or $116,907, is necessary for Interstate Travel Center to be in the black. These numbers can also be seen with the accompanying chart.7.3 Projected Cash Flow [back to top]The following table and chart reveal the projected cash flow for Interstate Travel Center for fiscal years 2001, 2002, and 2003.CashClick to EnlargePro Forma Cash Flow2001 2002 2003Cash ReceivedCash from Operations:Cash Sales $8,203,203 $8,604,910 $9,027,661Cash from Receivables $0 $0 $0Subtotal Cash from Operations $8,203,203 $8,604,910 $9,027,661Additional Cash ReceivedSales Tax, VAT, HST/GST Received $0 $0 $0New Current Borrowing $0 $0 $0New Other Liabilities (interest-free) $0 $0 $0New Long-term Liabilities $0 $0 $0Sales of Other Current Assets $0 $0 $0Sales of Long-term Assets $0 $0 $0New Investment Received $0 $0 $0Subtotal Cash Received $8,203,203 $8,604,910 $9,027,661Expenditures 2001 2002 2003Expenditures from Operations:Cash Spending $714,316 $732,403 $772,642Payment of Accounts Payable $6,500,180 $7,133,241 $7,484,370Subtotal Spent on Operations $7,214,496 $7,865,644 $8,257,012Additional Cash SpentSales Tax, VAT, HS T/GST Paid Out $0 $0 $0Principal Repayment of Current Borrowing $0 $0 $0Other Liabilities Principal Repayment $0 $0 $0Long-term Liabilities Principal Repayment $275,000 $275,000 $275,000Purchase Other Current Assets $0 $0 $0Purchase Long-term Assets $0 $0 $0Dividends $0 $0 $0Subtotal Cash Spent $7,489,496 $8,140,644 $8,532,012Net Cash Flow $713,707 $464,266 $495,649Cash Balance $963,707 $1,427,973 $1,923,6227.4 Projected Profit and Loss [back to top]The chart and table below projects the yearly profit and loss for the company. For a monthly breakdown, please see the appendices following the plan.Pro Forma Profit and Loss2001 2002 2003Sales $8,203,203 $8,604,910 $9,027,661Direct Costs of Goods $6,063,555 $6,366,533 $6,684,784Other $0 $0 $0 Cost of Goods Sold $6,063,555 $6,366,533 $6,684,784Gross Margin $2,139,648 $2,238,377 $2,342,878Gross Margin % 26.08% 26.01% 25.95%Expenses:Payroll $481,672 $481,672 $481,672Sales and Marketing and Other Expenses $220,800 $278,800 $378,800Deprecia tion $30,000 $30,000 $30,000Leased Equipment $49,800 $49,800 $49,800Utilities $49,200 $49,200 $49,200Insurance $91,800 $91,800 $91,800Rent $24,000 $30,000 $34,000Payroll Taxes $72,251 $72,251 $72,251Other $0 $0 $0 Total Operating Expenses $1,019,523 $1,083,523 $1,187,523Profit Before Interest and Taxes $1,120,125 $1,154,854 $1,155,355Interest Expense $235,104 $208,750 $181,250Taxes Incurred $224,890 $236,526 $247,585Net Profit $660,131 $709,578 $726,520Net Profit/Sales 8.05% 8.25% 8.05%Profit MonthlyClick to Enlarge7.5 Business Ratios [back to top]The table below outlines industry profile statistics for the gas and service station industry, as determined by the Standard Industry Classification (SIC) Index code 5541, Gasoline Service Stations. These statistics show a comparison of the industry standards and key ratios for this plan.Ratio Analysis2001 2002 2003 Industry ProfileSales Growth 0.00% 4.90% 4.91% 10.80%Percent of Total AssetsAccounts Receivable 0.00% 0.00% 0.00% 10.60%Inve ntory 8.91% 8.08% 7.40% 13.30%Other Current Assets 1.76% 1.52% 1.33% 25.60%Total Current Assets 44.65% 53.10% 59.86% 49.50%Long-term Assets 55.35% 46.90% 40.14% 50.50%Total Assets 100.00% 100.00% 100.00% 100.00%Current Liabilities 17.14% 15.18% 13.98% 31.60%Long-term Liabilities 78.45% 59.39% 44.52% 23.10%Total Liabilities 95.59% 74.58% 58.50% 54.70%Net Worth 4.41% 25.42% 41.50% 45.30%Percent of SalesSales 100.00% 100.00% 100.00% 100.00%Gross Margin 26.08% 26.01% 25.95% 16.50%Selling, General Administrative Expenses 17.99% 17.77% 17.86% 10.40%Advertising Expenses 2.34% 2.32% 2.77% 0.20%Profit Before Interest and Taxes 13.65% 13.42% 12.80% 0.50%Main RatiosCurrent 2.60 3.50 4.28 1.55Quick 2.08 2.96 3.75 0.91Total Debt to Total Assets 95.59% 74.58% 58.50% 54.70%Pre-tax Return on Net Worth 707.28% 113.35% 62.39% 2.50%Pre-tax Return on Assets 31.20% 28.82% 25.89% 5.50%Additional Ratios 2001 2002 2003Net Profit Margin 8.05% 8.25% 8.05% n.aReturn on Equity 527.55% 85.01% 46.54% n.aActivit y RatiosAccounts Receivable Turnover 0.00 0.00 0.00 n.aCollection Days 0 0 0 n.aInventory Turnover 24.00 24.58 24.59 n.aAccounts Payable Turnover 14.37 14.33 14.28 n.aPayment Days 24 25 25 n.aTotal Asset Turnover 2.89 2.62 2.40 n.aDebt RatiosDebt to Net Worth 21.67 2.93 1.41 n.aCurrent Liab. to Liab. 0.18 0.20 0.24 n.aLiquidity RatiosNet Working Capital $780,131 $1,244,709 $1,726,229 n.aInterest Coverage 4.76 5.53 6.37 n.aAdditional RatiosAssets to Sales 0.35 0.38 0.42 n.aCurrent Debt/Total Assets 17% 15% 14% n.aAcid Test 2.08 2.96 3.75 n.aSales/Net Worth 65.56 10.31 5.78 n.aDividend Payout 0.00 0.00 0.00 n.a