Feasibility study of an Automobile Repair & Service Workshop

Prepared by: Engr. Md. Imam Hossain (Rubel)
Pre-Feasibility Study of an Automobile Repair &
Service Workshop
March-2015

PPRROOJJEECCTT PPRROOFFIILLEE
A. PPuurrppoossee ooff tthhee DDooccuummeennttss
This document is developed to provide the entrepreneur with potential investment
opportunity in setting up and operating an Auto Repair & Service Workshop offering
various services. This pre-feasibility gives insight into various aspects of a Workshop setup
including both technical and general information for each particular service offered. The
document is designed to provide all relevant details to facilitate the entrepreneur in
making the correct decision providing various technological as well as business
alternatives. The document also allows flexibility in change of various parameters to suit
the customized needs of the entrepreneur.
BB.. PPrroojjeecctt BBrriieeff
The Auto Repair market has a lot of competition, almost all offer repair and service
features. Very few have fully stocked parts owing to the problem of tied up capital in
case of non-utilization of these parts. However, quick availability of parts supports the
service and repair departments by allowing them to turnaround jobs at a faster rate
than the competition. Wheel alignment and balancing facilities are also provided by
many large scale workshops along with their primary services.
The proposed pre-feasibility addresses the unmet need of having a quality auto
repair Workshop that provides:
(i) Quick and quality repair & maintenance services;
(ii) Wheel Alignment and Balancing Facilities
(iii) High Pressure Cleaning Services; and
(iv) Easy access to new and used retail parts to meet the demands of the customer.
B. OOppppoorrttuunniittyy RRaattiioonnaallee
The Auto Repair & Service Workshop business is a viable business provided that it is
operated with a good business acumen that involves having a thorough knowledge and
experience of the repair and service operations and also managing the jobs with the right
type of skilled manpower. When these factors combine with good customer relationship
management and effective business development skills, the business is expected to give
considerable profits which are expected to grow over the years.
C. Market Entry Timing
The Bangladeshi automobile industry has registered a considerable growth over the
past couple of years. It was further estimated that the car industry experienced a growth
rate of 51.4% signifying an increasing demand for cars which is expected to continue in
the future.
Furthermore, increasing competition between leasing companies have caused the
lease rates to decline considerably which have made car an affordable commodity for a
majority of the middle-income class which constitutes a considerable segment of the

population of Bangladesh. These factors coupled together reflect on the growing need
for quality repair and service facilities.
Unlike many countries, the Bangladeshi car industry is unique in the sense that once the
car comes on the road it is expected to run for an indefinite period requiring major repair
and maintenance services throughout its operational life. Moreover there is a
considerable demand for wheel alignment and wheel balancing services, which is
required by almost every car, whether new or old. The roughness of the roads and
continuous friction causes a continuous disruption to the alignment and balancing of the
wheels which require adjusting at least once every two weeks for proper upkeep and
maintenance.
Conclusively it can be said that there exists an ample demand for quality repair and
service workshops in Bangladesh and also that the existing scenario provides conducive
opportunities for entry into this business venture.
C. KKeeyy SSuucccceessss FFaaccttoorrss oorr PPrraaccttiiccaall TTiippss ffoorr SSuucccceessss
The three main critical success factors that affect the decision to invest in the
proposed business setup are:
i) Hands on Experience
Having a thorough knowledge and hands on experience of all the relevant
technical details is a must for entry into this business. Relevant work experience is
the most important pre-requisite because it has a direct impact on the
successful management of the business.
ii) Marketing Skill
Another critical factor is that the entrepreneur must have effective PR &
marketing skills. These marketing skills should enable the entrepreneur to
carryout business development activities to target his potential customers and also
to maintain his existing client base.
iii) Technical Skill
The third critical factor relates mostly to technical skills required especially for
operating computerized Wheel Alignment & Balancing machines and high pressure
cleaning equipment. The machine operators should be properly trained in order
to completely inspect steering and suspension systems, take computer
measurements, make factory adjustments to restore alignment specifications. In
case of unskilled workers handling these equipment, there will be loss of time,
equipment and most important of all unsatisfactory service leading to customer
dissatisfaction.

D. PPrrooppoosseedd BBuussiinneessss LLeeggaall SSttaattuuss
Although the legal status of business tends to play an important role in any setup, the
proposed Auto Repair & Service Workshop is assumed to operate on a sole proprietorship
basis which may extend to partnership in case of addition of new services that might add
significant business to the existing setup.
11.. PPrroojjeecctt IInnvveessttmmeenntt
This section will provide the total cost of the
project.
ITEM COST (BDT)
Construction – Office / Store 4,25,000
Construction – Service Stations 1,50,000
Masonry/ decoration Work 50,000
Mechanical Repairs Equipment 90,000
Denting Equipment 100,000
Painting Equipment 30,000
Wheel Alignment Machine 4,00,000
Wheel Balancing Machine 64,000
High Pressure Cleaning Equipment 550,000
Piston Pump/ Lift 250,000
Spare Parts Purchases 80,000
Lubricant Purchases 25,000
Working Capital 600,000
Pre Operating Costs 50,000
Office Furniture & Equipment 80,000
Total Cost 2,944,000

22.. PPrrooppoosseedd PPrroodduucctt MMiixx
A typical Auto Repair Workshop is assumed to provide the following four major services:
(i) Mechanical, and
(ii) Denting & Painting
(iii) Wheel Alignment & Balancing
(iv) High Pressure Cleaning
The following table presents an overview of the proposed main services to be
offered under the first two major categories identified above:
MECHANICAL DENTING & PAINTING
CNG Back-up , Repair and Services, Cosmetic Repair
Major Repairs Accidental Repair
Body Restoration Services
33.. RReeccoommmmeennddeedd PPrroojjeecctt PPaarraammeetteerrss
Capacity Human Resource Equipment Location
450 Cars / Month
2 (Management)
17 (Technical Staff)
Chinese High Income
Locality
Financial Summary
Project Cost IRR NPV Payback Period
Remarks
2,944,000 37% BDT 14,879,579 2 Years & 5 months Positive
44.. EEqquuiippmmeenntt RReeqquuiirreemmeenntt
The equipment required for running an Auto Workshop would relate to the activities
that the workshop tends to undertake. In this case, the equipment required would be as
follows:
MECHANICAL REPAIRS & MAINTENANCE
Equipment Number Estimated Cost (BDT)
Complete Mechanical Toolbox 2 26,000
Work Bench 2 5,000
Vice 2 9,000
Tool Box Cupboard 1 5,000
Voltmeter / Ammeter 2 5,000

Timing Light 2 12,000
Battery Charger 1 7,000
Compression Gauge 1 6,000
Others - 15,000
Total 90,000
DENTING
Denting Toolbox 2 20,000
Mechanical Toolbox 1 13,000
Pressure Jack (Large) 1 30,000
Gas Cylinder 1 6,000
Carbide Tank 1 3,000
Welding Kits 2 6,000
Drill Machine (Hand) 2 3,000
Puller Jack 1 4,000
Others - 15,000
Total 100,000
PAINTING
Painting Compressor (2 hp; 1k lbs) 1 15,000
Spray Gun (Small) 1 3,000
Spray Gun (Large) 1 4,000
Pipe 1 1,000
Others - 7,000
Total - 30,000

HIGH PRESSURE CLEANING
High Pressure Cleaner (including
Piston Pump)
1 550,000
Piston Pump 1 250,000
Total - 800,000
WHEEL ALIGNMENT & BALANCING
Complete Computerized Alignment
Equipment (Including Heads, Disc
plates etc.) – A Class
1 4,00,000
Computerized Wheel Balancing
Machine
1 64,000
Total - 4,64,000
55 LLAANNDD &BBUUIILLDDIINNGG RREEQQUUIIRREEMMEENNTT
55..11 Land RReeqquuiirreemmeenntt
The proposed Auto Workshop setup is assumed to operate in 1,500 sq. yards that allows
ample space for Denting & Painting and Mechanical services and also for general parking
services for walk-in customers.
Mechanical Works – 800 Sq. Yards
Denting & Painting – 300 Sq. Yards
Wheel Balancing & Alignment – 200 Sq. Yards
High Pressure Cleaning – 200 Sq. Yards

55..22 OOffffiiccee FFuurrnniittuurree && EEqquuiippmmeenntt
A total of BDT 80,000 is required for purchase of office furniture and related equipment.
The following table gives an assumed breakup:
OFFICE FURNITURE
Item Number Estimated Cost (BDT)
Table & Chair Set (Manager) 1 10,000
Table & Chair Set (Customer Service) 1 5,000
Air Conditioner (Split Unit) 1 30,000
Waiting Chairs 10 10,000
Sofa Set for Customers 1 15,000
Curtains / Interior Decoration - 10,000
Total 80,000
The Office Furniture & Equipment will be depreciated at the rate of 10% per annum
according to the diminishing balance method for the projected period.
66. HHUUMMAANN RESOURCERREEQQUUIIRREEMMEENNTT
GENERAL MANAGEMENT
Designation / Type Number Monthly Salary (BDT)
Branch-In charge 1 -
Accountant cum Customer care 1 7,500 (10-12 hours)
Purchaser / Store Keeper 1 7,000
Office Assistant 1 5,500
Guard 1 5,500 (Night Duty Only)

The following table gives the details for the proposed technical labor that forms the
integral part of the cost of sales:
JOB / DUTY ALLOCATION
Service Engineer 1 15,500
CNG BACK-UP AND MECHANICAL REPAIRS & MAINTENANCE
Technician 1 12,000
Assistant technician 1 8,000
Jr. Technician 1 5,000
DENTING
Head Technician(Denting) 1 14,000
Asst. Technician(Denting) 1 8,000
Jr. Technician (Denting) 1 5,000
PAINTING
Head Technician (Painting) 1 12,000
Asst. Technician (Painting) 1 8,000
Jr. Technician (Painting) 1 5,000
Total 15 118,000
The Service Engineer would be responsible for checking and diagnosing the customer’s car
to ascertain any additional repairs / replacements that might not have been identified by
the customer. Once the estimates and repair / replacement work is agreed with the
customer

the Service Engineer would then allocate the job and ensure its timely completion. The
Service Engineer would also be required to check the cars (trial run) before delivering them
to the customers.
The total monthly salary of the technical staff would amount to BDT 131,500 and is
assumed to increase by 10% per annum.
WHEEL ALIGNMENT & BALANCING
Operator (Service Engineer) 1 Included
Assistant Operator ( Tech) 1 Included
HIGH PRESSURE CLEANING
Assistant Technician 1 8,000
Jr. Technician 1 5,000
Total 4 13,000

77.. RReevveennuuee && CCoosstt PPrroojjeeccttiioonnss
77..11 G r o s s MMaarrggiinnss
The following table gives the Gross Margins for the proposed services:
SERVICE GROSS MARGIN
Denting & Painting 40 %
SERVICE GROSS MARGIN
Cosmetic Touchups
Accidental Repairs
Full Body Restoration
13 %
43 %
30 %
CNG Backup,Auto Repairs & Service 27 %
Maintenance Services
Major Repairs
33 %
14 %
Wheel Alignment & Balancing 94 %
Alignment
Balancing
93 %
94 %
High Pressure Cleaning 77 %
Overall 57%
77..22 MMaarrggiinnss oonn PPaarrttss // LLuubbrriiccaannttss // SSeerrvviicceess
The Auto Workshop being a service oriented setup charges a margin on each of the
products it uses and services it provides. The following table presents the breakdown of the
margin:
SERVICE MARGIN
Spare Parts 35.0 %
Lubricants 12.5 %
Subletting 25.0 %
It is assumed that the cost of parts, lubricants and sublet service is expected to increase at
the rate of 10 % per annum for the projected period.
77..33 Construction CCoosstt

The Auto Workshop involves construction cost which translates into three main
components as follows:
The cost for masonry will be as follows:
MASONRY WORK FOR BAY AREAS
Item Bay Areas Estimated Cost (BDT)
Mechanical Work (Duct & Ramp) 10 80,000
Denting 4 20,000
Painting 4 20,000
Total 14 120,000
66..44
CONSTRUCTION COST FOR WHEEL ALIGNMENT / BALANCING
& PRESSURE CLEANING
Item Estimated Cost (BDT)
Wheel Alignment & Balancing( Base making ) 90,000
Scissor Lift for Alignment 4,000,00
High Pressure Cleaning (RAMP) Included
Total 490,000
(Note: For wheel alignment there should be at least a minimum space of 5 feet from the
front & back end of the car and a space of 2 feet at the sides for flexibility in operating the
machine)
77..44 UUttiilliittiieess RReeqquuiirreemmeenntt
The following table presents the assumed breakup of utilities on a monthly basis:
UTILITY MONTHLY CHARGES ()
Electricity 12,000
Water 2,000
Telephone 2,000
Entertainment 1,500
Total 17,500
It is assumed that utilities expenses will increase by 10% every year.
77..55 Labor AAllllooccaattiioonn CCoossttss

The technical labor costs form an integral part of the cost of sales for the proposed
Auto Workshop. This makes it difficult to trace the labor costs specifically to
the services offered since a person can work on more than one function at one
time. For the purpose of this study the following breakup of labor costs are
considered according to the workload based on the number of cars for a particular
type of service:
Labor Cost per Car
(BDT)
Denting & Painting Repairs/CNG Backup
Monthly pay Cosmetic Accident Restoration Minor Major
Mechanical 25,000 - - - 12,500 12,500
Denting 27,000 - 19,500 7,500 - -
Painting 25,000 16,000 3,500 5,500 - -
Engineer 15,500 3,875 3,875 3,875 3,875 3,875
Total 92,500 19,875 26,875 16,875 16,375 16,375
Cars (Estimated) 6 7 2 100 5
Labor Costs 3,312.5 3,839.27 8,437.5 163.75 3,275
77..66 WWoorrkkiinngg CCaappiittaall && PPrree OOppeerraattiinngg CCoossttss
It is estimated that an additional amount of approximately BDT 600,000 will be
required as cash in hand to meet the working capital requirements / contingency
cash for the initial stages. The requirement is based on the utilities and salaries
expenses for at least three months. The following table gives the break up.
ITEM 3 MONTHS COST (BDT)
Utilities 52,500
Salaries 394,500
Total 447,000
The provision for pre operating costs is assumed to be BDT 50,000 which will be
amortized equally over a 5 year period.
77..77 KKeeyy AAssssuummppttiioonnss

Item Assumption(s)
Sales Increase 15 % per year
Increase in Cost of Sales 10 % per year
Increase in Staff Salaries 10 % per year
Increase in Utilities (Electricity/Water/ Gas) 10 % per year
Increase in Office Expenses 10 % per year
Depreciation
o Building & Masonry Work 10 % per annum (Diminishing Balance)
o Technical Equipment 10 % per annum (Diminishing Balance)
o Office Furniture & Equipment 10 % per annum (Diminishing Balance)
o Wheel Alignment & Balancing 10 % per annum (Diminishing Balance)
o Piston Pump /Car Lift 10 % per annum (Diminishing Balance)
o High Pressure Cleaning Straight Line 33 % per year
High Pressure Cleaning Maintenance Cost 25 % of Cost Price
High Pressure Cleaning Replacement 4 years

8. Revenue & Cost
MONTHLY REVENUE / COST SCHEDULE
Item Revenue / Fee Charged (BDT)
Gross
Cost of Sales (BDT) Margin
(%)
Fee
Charged
(BDT)
Estimated
Cars
Revenue Material Labor
Spare
Parts
Lubricants Subletting Total Cost
Denting & Painting 480,000 283,902 40%
Cosmetic Touchup (3
Piece Patching &
Paint)
Accidental Repairs
Full Body Restoration
5,000
50,000
50,000
6
7
2
30,000
350,000
100,000
1,000
20,500
10,000
3,312.50
3,839.27
8,437.50
-
2200
7,700
-
616
1,263
-
1020
3,000
25,875 13.75%
1,97,226 43%
60,801 30%
Mechanical /CNG
Repairs 620,000 453,400 27%
General Repairs/CNG
Major Repairs
4,200
40,000
100
5
420,000
200,000
-
-
163.75
3,275
1,714
18,600
500
2525
437
10,000
281,400 33%
172,000 14%
TOTAL 1100,000 737,302 33%

8. Revenue & Cost
MONTHLY REVENUE / COST SCHEDULE
Item Revenue / Fee Charged (BDT)
Gross
Cost of Sales (BDT) Margin
(%)
Fee Charged
(BDT)
Estimated
Cars
Revenue Material Labor
Spare
Parts
Lubricants Subletting Total
Cost
Wheel Alignment /
Balancing
29,000 1,800 94%
Wheel Alignment
Wheel Balancing
1500
1400
10
10
15,000
14,000
-
-
100
80
-
-
-
-
-
-
1,000 93%
800 94%
High Pressure Cleaning 1,00,000 22,500 77%
High Pressure Cleaning
TOTAL
400 250 1,00,000
1,29,000
40 50 - - - 22,500 77%
24,300 81%

9. Projected Income Statement
Projected Income Statement (BDT) Year1 Year2 Year3 Year4 Year5 Year6 Year7 Year8 Year9 Year10
Revenue
Denting & Painting
Genera l Repairs / Maintenance
Wheel Alignment & Balancing High
Pressure Cleaning
Net Sales
Cost of Sales
1,4748000, 1,6960200 1,9504230 2,2429864 25,794344 29663495 34113020 39229973 45114469 51881639
5,760,000 6,624,000 7,617,600 8,760,240 10,074,276 11,585,417 13,323,230 15,321,714 17,619,971 20,262,966
7,440,000 8 ,556,000 9,839,400 11,315,310 1 3,012,606 14,964,497 17,209,172 19,790,547 22,759,130 2 6,172,999
3,48,,000 4,00,200 4,60,230 5,29,264 6,08,654 8,04,945 1 ,064,539 1,224, 220 1,407,854 1,619,032
12,00,000 1,380,000 1,587,000 1,825,050 2,098,807 2,413,628 2,775,672 3,192,023 3,670,827 4,221,451
14,563650 16,746197 19,260,427 22,149,490 25,471,914 29,292,701 33,686,607 38,739,598 44,550,538 51,233,118
9,139,224 10,053,146 11,058,461 12,164,307 13,380,737 14,718,811 1 6 ,190,692 17,809,762 19,590,738 21,549,812
5,424,426 6,693,051 8,201,966 9,985,183 12,091,177 14,573,890 17,495,915 20,929,836 24,959,800 29,683,306
37% 40% 43% 45% 47% 52% 52% 54% 56% 58%
306,000 336,600 370,260 407,286 448,024 448,014 492,816 542,097 596,307 665,938
210,000 231,000 254,100 279,510 338,207 372,027 409,230 450,153 495,169 544,685
60,000 66,000 72,600 79,860 87,846 96,631 106,294 116,923 128,615 141,477
10,000 10,000 10,000 10,000 10,000 - - - - -
91,667 45,833 - 100,833 50,417 - 110,917 55,458 - 122,008
185,500 204,050 224,455 246,900 271,590 298,749 328,624 361,487 397,635 437,399
- - - -
863,167 893,483 931,415 1,124,389 1,206,084 1,215,421 1,447,881 1 ,526,118 1,617,726 1,911,507
4,561,259 5,799,568 7,270,551 8,860,794 10,885,093 13,358,469 16,048,034 19,403,718 23,342,074 27,771,799
1,092,273 1 , 255,964 1, 444,532 1,661,211 1,910,393 2,96,9521 2,526,495 2,905,469 3,341,290 3,842,483
3,468,986 4,543,604 5,826,019 7,199,583 8,974,700 10,388,948 13,521,539 16,498,249 20,000,784 23,929,316
0 0 0 0 0 0 0 0 0 0
3,468,986 4,543,604 5,826,019 7,199,583 8,974,700 10,388,948 13,521,539 16,498,249 20,000,784 23,929,316
Gross Profit
Gross Profit Margin
General Administrative & Selling Expenses
Salaries
Utilities Expense
Office Miscellaneous & Traveling Expenses
Amortization of Preliminary Expenses
Maintenance Expense
Depreciation Expense
Subtotal
Operating Income
VAT Expenses (7.5%)
Earnings Before Taxes
Tax
Net Profit
Monthly Profit After Tax 289,082 378,633 485,501 599,965 897,470 865,745 1 , 126,794 1 , 374,854 1,666,732 1,994,109

10. Projected Balance Sheet
Projected Balance Sheet (BDT) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Assets
Current Assets
Cash & Bank Balance 447,000 670,500 1,106,325 1,637,361 1,729,247 2,497,959 3,996,518 5,098,701 6,925,086 8 ,993,303 10,687,949
Accounts Receivable (Net) 0 83,775 93,828 105,087 117,698 131,822 147,640 165,357 185,200 207,424 232,315
Lubricants & Spare Parts Inventory 105,000 115,500 127,050 139,755 153,730 169,103 186,013 204,615 225,076 247,584 272,342
Total Current Assets 552,000 869,775 1,327,203 1,882,203 2,000,675 2,798,884 4,330,171 5,468,673 7 ,335,362 9,448,311 11,192,606
Fixed Assets
Building & Workshop 625,000 562,500 506,250 455,625 410,062 369,056 332,150 298,935 269,042 241,137 217,924
Technical Equipment 220,000 198,000 178,200 160,380 144,342 129,908 116,917 105,225 94,703 85,233 76,709
Office Furniture 80,000 72,000 64,800 58,320 52,488 47,239 42,515 38,264 34,437 30,994 27,894
Machinery 1 ,014,000 912,600 821,340 739,206 665,285 598,756 538,881 484,499 436,493 392,844 353,559
Total Fixed Assets 1,939,000 1,745,100 1,570,590 1,413,531 1,272,177 1,144,960 1,030,464 927,417 834,675 751,208 676,087
Intangible Assets
PreOperating Costs 50,000 40,000 30,000 20,000 10,000 0 0 0 0 0 0
Total Assets 2,541,000 2,654,875 2,927,793 3,315,734 3,282,852 3,943,844 5,360,635 6,396,090 8,170,037 10,199,519 11,868,693
Owner's Equity 1,023,500 1,258,310 1,799,714 2,276,640 2,522,859 2,846,094 4,317,448 5,969,154 7,879,492 9,113,702 11,616,515
Long Term Liability 1,023,500 584,510 474,951 3 83,478 296,922 0 0 0 0 0 0
Total Equity & Liabilities 2,047,000 1,842,820 2,274,665 2,660,118 2,819,781 2,846,094 4,317,448 5,969,154 7,879,492 9,113,702 11,616,515

11. Projected Statement of Cash Flows
Projected Statement of Cash Flows (BDT) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year10
Cash Flow From Operating Activities
Net Profit 0 3 , 468,986 4,543,604 5,826,019 7,199,583 8,974,700 10,388,948 13,521,539 16,498,249 20,000,784 23,929,316
Add: DepreciationExpense 0 185,500 204,050 224,455 246,900 271,590 298,749 328,624 361,487 397,635 437,399
Amortization Expense 0 10,000 10,000 10,000 10,000 10,000 0 0 0 0 0
(Increase) / decrease in receivables (83,775) (10,053) (11,259) (12,610) (14,124) (15,819) (17,717) (19,843) (22,224) (24,891)
(Increase) / decrease in inventory (15,000) (16,500) (18,150) (19,965) (21,962) (24,158) (26,573) (29,231) (32,154) (35,369)
Net Cash Flow From Operations 0 3,565,711 4,731,101 6,031,065 7,423,908 9,220,204 10,647,720 13,805,873 16,810,662 20,344,041 24,306,455
Cash Flow From Financing Activities
Receipt of Long Term Debt 1,023,500
Repayment of Long Term Debt (438,990) (109,559) (91,473) (86,555) (296,922)
Owner's Equity 1,023,500 (100,000) (200,000) (250,000) (250,000) (300,000) (450,000) (600,000) (800,000) (950,000) (1,200,000)
Net Cash Flow From Financing Activities 6,047,000 (538,990) (309,559) (341,473) (336,555) (596,922) (450,000) (600,000) (800,000) (950,000) (1,200,000)
Cash Flow From Investing Activities
Capital Expenditure (625,000)
Office Furniture (80,000)
Technical Equipment (1,480,000) (605,000) (665,500) (732,050)
Lubricant & Parts Inventory (105,000)
Preliminary Operating Expenses (50,000)
Net Cash Flow From Investing Activities (2,340,000) 0 0 0 (605,000) 0 0 (665,500) 0 0 (732,050)
NET CASH FLOW 447,000 223,500 436,325 531,036 91,886 768,712 1,498,559 1,102,183 1,826,385 2,068,217 1,694,646
Cash at the Beginning of the Period 0 447,000 670,500 1,106,325 1,637,361 1,729,247 2,497,959 3,996,518 5,098,701 6,925,086 8,993,303
Cash at the End of the Period 447,000 670,500 1,106,325 1,637,361 1,729,247 2,497,959 3,996,518 5,098,701 6,925,086 8,993,303 10,687,949

Feasibility study of an Automobile Repair & Service Workshop

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