please original workBusiness plan- Doggy daycareIn this section describe financial estimates and rationale which include financial statements and forms that document the viability of your proposed business and its soundness as an investment.Tables and figures must be introduced in the narrative. Describe the form of business (sole-proprietor, LLC, or Corporation). Prepare three-year projections for income, expenses, and sources of funds. Base predictions on industry and historical trends. Make realistic assumptions.

Doggy daycare is a growing industry with a strong demand for services. A doggy daycare business can be profitable, but it is important to develop a strong business plan that includes financial projections and a risk assessment. The business should be able to differentiate itself from other providers by offering additional services or a lower price.Doggy Daycare Business PlanFinancial Estimates and RationaleThe doggy daycare business will be a sole proprietorship. This means that the owner will be personally responsible for all debts and liabilities of the business. However, it also means that the owner will be able to keep all profits from the business.Three-Year ProjectionsThe following table shows three-year projections for income, expenses, and sources of funds:YearIncomeExpensesNet ProfitSources of Funds1$250,000$200,000$50,000Personal savings, bank loan2$300,000$225,000$75,000Retained earnings, bank loan3$350,000$250,000$100,000Retained earningsThe income projections are based on the following assumptions:The daycare will operate at 75% capacity in the first year, increasing to 80% capacity in the second year and 85% capacity in the third year.The average daily rate for daycare services will be $30.The daycare will offer additional services, such as grooming and training, which will generate an additional $10,000 in revenue per year.Expense ProjectionsThe expense projections are based on the following assumptions:The largest expense will be salaries and wages, which will account for approximately 60% of total expenses.Other major expenses will include rent, utilities, insurance, and food.Sources of FundsThe startup costs of the business will be funded by a combination of personal savings and a bank loan. The owner will contribute $50,000 in personal savings and will take out a $100,000 bank loan.RationaleThe doggy daycare industry is a growing industry, and there is a strong demand for daycare services in the local area. The business will be able to differentiate itself from other daycare providers by offering a variety of additional services, such as grooming and training. The business will also be able to compete on price by offering a lower daily rate than other daycare providers.RisksThe main risk associated with the business is the risk of not being able to attract enough customers. The business will need to develop a strong marketing and advertising campaign in order to attract customers. The business will also need to maintain a high level of customer service in order to retain customers.The doggy daycare business has the potential to be a profitable venture. The business is entering a growing market and has a number of competitive advantages. The business will be able to mitigate its risks by developing a strong marketing and advertising campaign and by maintaining a high level of customer service.