Youth Soccer Academy, Perth, Western Australia — sample investor model

Computed values from the investor workbook, read-only. The customer receives the live Excel file with every formula.

Youth Soccer Academy — investor model

Perth, Western Australia, Australia · All figures in AUD · 10 operating years; year one starts with 3 months of pre-launch before opening (no separate construction period)


INVESTMENT
Hard cost	26,491
Contingency	0
Pre-opening	0
Opening working capital	30,000
Interest during construction	0
Financing fees	0
Total project cost	56,491
Cost per unit of capacity	88
Funded by equity	56,491
Funded by debt	0

RETURNS
Project IRR (unlevered, incl. exit value)	91.0%
Project NPV @ 11.5%	1,402,158
Project IRR without exit value (operations only)	88.8%
Equity IRR	91.0%
Equity NPV @ 14.5%	1,132,102
Project payback (years from opening)	2.0
Peak equity funding	102,922
Minimum DSCR	n/a
LLCR	n/a
Exit value (EBITDA multiple)	1,907,404
Break-even price (NPV = 0) vs modelled price	−33%

MODEL CHECKS
Balance sheet balances every year	PASS
Cash never negative	CHECK	shortfall 16,431 — open with 46,431 of working capital
Debt repaid by maturity	PASS
DSCR at or above 1.25x in every year	PASS

ASSUMPTIONS THE MODEL HAD TO MAKE
• Projection extended to 10 years (a professional study and a lender look at the loan's whole life).
• Volume growth (Academy Weekly Training (1 Session / Week) 18%, Development Academy Training (2 Sessions / Week) 18%, Annual International Family Soccer Tour Package 18%, Academy Kit & Apparel Pack 18%, School Holiday Skills Clinics (3-Day) 18%) holds for three years, then fades to a long-run 3% by year eight.
• No capacity plan from the study: sales volume is capped at 1.6× the first year (the education norm for headroom) — replace with the real plant or site capacity.
• Year one: 3 months before opening, then a 9-month ramp-up, so it sells 42% of a full year; staff are paid from a month before opening, fixed charges all year.
• Delivery roles grow with the volume sold, up to 1.3x the first full year: Junior / Assistant Youth Coaches (Casual Pool).
• Renewal reserve at the education norm (1.5% of revenue) funds equipment and furnishing replacement.
• Tax losses carried forward without a time limit (Australia rule; continuity or annual-cap conditions not modelled).
• Exit value at 6× final-year EBITDA (education norm); project IRR and NPV include it.

Inputs

Yellow cells are the assumptions the model runs on (values, for reference — edit the study to change them)


Currency	AUD
Construction / setup (months)	0
Operating years	10
Inflation	2.5%
Corporate tax rate	25.0%
Tax losses carried forward (years)	unlimited
Discount rate (project)	11.5%
Cost of equity	14.5%
Exit value method	exit_multiple 6×
Receivable days	10
Payable days	20
Inventory days	20
Opening working capital	30,000
Contingency	0.0%

Loan	Amount / share	Rate	Grace (months)	Tenor (months)	Repayment

Revenue stream	Driver	Price	Price growth	Direct cost %	Pass-through
Academy Weekly Training (1 Session / Week)	volume	340	3.0%	12.0%
Development Academy Training (2 Sessions / Week)	volume	580	3.0%	15.0%
Annual International Family Soccer Tour Package	volume	13,500	4.0%	78.0%
Academy Kit & Apparel Pack	volume	110	2.5%	53.6%
School Holiday Skills Clinics (3-Day)	volume	240	3.0%	18.0%
Local Corporate Sponsorships	volume	15,000	3.0%	5.0%

Revenue by driver

AUD


	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Academy Weekly Training (1 Session / Week) — units	208	589	694	800	800	800	800	800	800	800
Academy Weekly Training (1 Session / Week) — revenue	70,833	206,268	250,273	297,222	306,138	315,323	324,782	334,526	344,561	354,898
Development Academy Training (2 Sessions / Week) — units	58	165	194	224	224	224	224	224	224	224
Development Academy Training (2 Sessions / Week) — revenue	33,833	98,523	119,542	141,967	146,226	150,613	155,131	159,785	164,579	169,516
Annual International Family Soccer Tour Package — units	3	8	10	11	11	11	11	11	11	11
Annual International Family Soccer Tour Package — revenue	39,375	115,774	141,837	170,079	176,883	183,958	191,316	198,969	206,928	215,205
Academy Kit & Apparel Pack — units	58	165	194	224	224	224	224	224	224	224
Academy Kit & Apparel Pack — revenue	6,417	18,595	22,452	26,535	27,198	27,878	28,575	29,289	30,021	30,772
School Holiday Skills Clinics (3-Day) — units	50	141	167	192	192	192	192	192	192	192
School Holiday Skills Clinics (3-Day) — revenue	12,000	34,944	42,399	50,353	51,863	53,419	55,022	56,673	58,373	60,124
Local Corporate Sponsorships — units	0	1	1	1	1	1	1	1	1	1
Local Corporate Sponsorships — revenue	6,250	15,450	15,914	16,391	16,883	17,389	17,911	18,448	19,002	19,572
Total revenue	168,708	489,554	592,417	702,547	725,191	748,580	772,737	797,690	823,464	850,087

Profit and loss (departmental, USALI-style)

AUD


	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Academy Weekly Training (1 Session / Week) revenue	70,833	206,268	250,273	297,222	306,138	315,323	324,782	334,526	344,561	354,898
Direct costs	(8,500)	(24,752)	(30,033)	(35,667)	(36,737)	(37,839)	(38,974)	(40,143)	(41,347)	(42,588)
Payroll	0	0	0	0	0	0	0	0	0	0
Other expenses	0	0	0	0	0	0	0	0	0	0
Academy Weekly Training (1 Session / Week) profit	62,333	181,516	220,240	261,555	269,402	277,484	285,808	294,383	303,214	312,311
Development Academy Training (2 Sessions / Week) revenue	33,833	98,523	119,542	141,967	146,226	150,613	155,131	159,785	164,579	169,516
Direct costs	(5,075)	(14,778)	(17,931)	(21,295)	(21,934)	(22,592)	(23,270)	(23,968)	(24,687)	(25,427)
Payroll	0	0	0	0	0	0	0	0	0	0
Other expenses	0	0	0	0	0	0	0	0	0	0
Development Academy Training (2 Sessions / Week) profit	28,758	83,745	101,611	120,672	124,292	128,021	131,862	135,817	139,892	144,089
Annual International Family Soccer Tour Package revenue	39,375	115,774	141,837	170,079	176,883	183,958	191,316	198,969	206,928	215,205
Direct costs	(30,713)	(90,304)	(110,633)	(132,662)	(137,968)	(143,487)	(149,227)	(155,196)	(161,404)	(167,860)
Payroll	0	0	0	0	0	0	0	0	0	0
Other expenses	0	0	0	0	0	0	0	0	0	0
Annual International Family Soccer Tour Package profit	8,663	25,470	31,204	37,417	38,914	40,471	42,090	43,773	45,524	47,345
Academy Kit & Apparel Pack revenue	6,417	18,595	22,452	26,535	27,198	27,878	28,575	29,289	30,021	30,772
Direct costs	(3,439)	(9,967)	(12,034)	(14,223)	(14,578)	(14,943)	(15,316)	(15,699)	(16,091)	(16,494)
Payroll	0	0	0	0	0	0	0	0	0	0
Other expenses	0	0	0	0	0	0	0	0	0	0
Academy Kit & Apparel Pack profit	2,977	8,628	10,418	12,312	12,620	12,935	13,259	13,590	13,930	14,278
School Holiday Skills Clinics (3-Day) revenue	12,000	34,944	42,399	50,353	51,863	53,419	55,022	56,673	58,373	60,124
Direct costs	(2,160)	(6,290)	(7,632)	(9,064)	(9,335)	(9,615)	(9,904)	(10,201)	(10,507)	(10,822)
Payroll	0	0	0	0	0	0	0	0	0	0
Other expenses	0	0	0	0	0	0	0	0	0	0
School Holiday Skills Clinics (3-Day) profit	9,840	28,654	34,767	41,289	42,528	43,804	45,118	46,472	47,866	49,302
Local Corporate Sponsorships revenue	6,250	15,450	15,914	16,391	16,883	17,389	17,911	18,448	19,002	19,572
Direct costs	(313)	(773)	(796)	(820)	(844)	(869)	(896)	(922)	(950)	(979)
Payroll	0	0	0	0	0	0	0	0	0	0
Other expenses	0	0	0	0	0	0	0	0	0	0
Local Corporate Sponsorships profit	5,937	14,678	15,118	15,571	16,039	16,520	17,015	17,526	18,051	18,593

Total departmental profit	118,509	342,690	413,358	488,817	503,795	519,234	535,151	551,561	568,477	585,917
Undistributed payroll	(120,470)	(148,177)	(155,598)	(163,345)	(167,428)	(171,614)	(175,904)	(180,302)	(184,810)	(189,430)
Undistributed expenses	(34,681)	(50,952)	(56,484)	(62,326)	(63,929)	(65,574)	(67,261)	(68,993)	(70,769)	(72,592)
Gross operating profit (GOP)	(36,641)	143,561	201,276	263,147	272,437	282,046	291,985	302,266	312,898	323,895
Fixed charges (rent, insurance)	(4,800)	(4,920)	(5,043)	(5,169)	(5,298)	(5,431)	(5,567)	(5,706)	(5,848)	(5,995)
EBITDA	(41,441)	138,641	196,233	257,978	267,139	276,616	286,419	296,560	307,050	317,901
Depreciation and amortisation	(8,225)	(9,274)	(10,144)	(5,835)	(7,389)	(7,344)	(8,999)	(10,347)	(11,063)	(11,615)
EBIT	(49,666)	129,367	186,090	252,142	259,749	269,272	277,420	286,213	295,987	306,286
Interest	0	0	0	0	0	0	0	0	0	0
Profit before tax	(49,666)	129,367	186,090	252,142	259,749	269,272	277,420	286,213	295,987	306,286
Tax (after loss carry-forward)	0	(19,925)	(46,522)	(63,036)	(64,937)	(67,318)	(69,355)	(71,553)	(73,997)	(76,571)
Net income	(49,666)	109,442	139,567	189,107	194,812	201,954	208,065	214,659	221,990	229,714

GOP margin (own revenue)	−21.7%	29.3%	34.0%	37.5%	37.6%	37.7%	37.8%	37.9%	38.0%	38.1%
EBITDA margin (own revenue)	−24.6%	28.3%	33.1%	36.7%	36.8%	37.0%	37.1%	37.2%	37.3%	37.4%
Replacement reserve (cash, not P&L)	2,531	7,343	8,886	10,538	10,878	11,229	11,591	11,965	12,352	12,751

Cash flow (indirect method, from net income)

AUD


	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Net income	(49,666)	109,442	139,567	189,107	194,812	201,954	208,065	214,659	221,990	229,714
Add back depreciation (once)	8,225	9,274	10,144	5,835	7,389	7,344	8,999	10,347	11,063	11,615
Increase in working capital	(2,459)	(7,891)	(2,509)	(2,690)	(525)	(544)	(562)	(582)	(601)	(621)
Cash from operations	(43,900)	110,824	147,203	192,252	201,676	208,754	216,502	224,426	232,452	240,708
Replacement / maintenance capex	(2,531)	(7,343)	(8,886)	(10,538)	(10,878)	(11,229)	(11,591)	(11,965)	(12,352)	(12,751)
Loan principal repaid	0	0	0	0	0	0	0	0	0	0
Net change in cash	(46,431)	103,481	138,316	181,714	190,798	197,525	204,911	212,461	220,100	227,956
Closing cash	(16,431)	87,050	225,366	407,080	597,878	795,403	1,000,314	1,212,775	1,432,875	1,660,831

Free cash flow to the firm (FCFF)	(46,431)	103,480	138,316	181,714	190,798	197,525	204,911	212,460	220,100	227,956
Free cash flow to equity (FCFE)	(46,431)	103,480	138,316	181,714	190,798	197,525	204,911	212,460	220,100	227,956

Balance sheet (end of year)

AUD — cash comes from the cash flow, never a plug


	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Cash	(16,431)	87,050	225,366	407,080	597,878	795,403	1,000,314	1,212,775	1,432,875	1,660,831
Receivables	4,622	13,412	16,231	19,248	19,868	20,509	21,171	21,855	22,561	23,290
Inventory	2,751	8,047	9,811	11,711	12,131	12,567	13,018	13,487	13,972	14,475
Net fixed assets	20,797	18,866	17,608	22,311	25,799	29,684	32,277	33,893	35,182	36,320
Total assets	11,739	127,375	269,016	460,350	655,676	858,163	1,066,780	1,282,010	1,504,590	1,734,916

Payables	4,914	11,109	13,183	15,410	15,925	16,458	17,009	17,580	18,170	18,781
Loans	0	0	0	0	0	0	0	0	0	0
Total liabilities	4,914	11,109	13,183	15,410	15,925	16,458	17,009	17,580	18,170	18,781
Equity (paid-in + retained)	6,825	116,266	255,833	444,940	639,752	841,706	1,049,771	1,264,430	1,486,420	1,716,135
Total liabilities and equity	11,739	127,375	269,016	460,350	655,677	858,164	1,066,780	1,282,010	1,504,590	1,734,916
CHECK: assets − liabilities − equity (must be 0)	0	0	0	0	0	0	0	0	0	0

Investment and depreciation

AUD


Asset	Class	Cost	Life (years)
HART Training Soccer Balls & Storage Mesh Sacks	other	2,990	3
Alpha Gol Folding Portable Goals & HART Rebounders	other	1,680	3
Agility & Technical Training Gear Pack	other	1,740	3
Sports Field Medical & First Aid Response Kits	other	800	2
Heavy-Duty Enclosed Tradesman Trailer (8x5 Tandem Axle)	other	7,500	5
Apple iPad (10th Gen) Pitch-Side Attendance Tablets	other	1,500	3
Administrative & Technical Operations Laptop	technology	1,500	3
Payment Gateway Readers & 5G Mobile Field Hotspot	other	880	3
Branded Mobile Teardrop Banners, Vehicle Signage & Pop-up Marquees	vehicles	4,720	3
Folding Trestle Registration Tables, Pitch Chairs & Storage Racking	other	750	5
Unforeseen Initial Equipment & Pitch Setup Contingency	machinery	2,431	3
Hard cost		26,491

	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Depreciation	8,225	9,274	10,144	5,835	7,389	7,344	8,999	10,347	11,063	11,615
Replacement / reserve capex	2,531	7,343	8,886	10,538	10,878	11,229	11,591	11,965	12,352	12,751

Debt schedule and cover

AUD


	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
DSCR (CFADS ÷ debt service)
LLCR at opening: n/ax · minimum DSCR: n/ax · average DSCR: n/ax

Working capital

AUD · receivable 10 days, payable 20 days, inventory 20 days


	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Receivables	4,622	13,412	16,231	19,248	19,868	20,509	21,171	21,855	22,561	23,290
Inventory	2,751	8,047	9,811	11,711	12,131	12,567	13,018	13,487	13,972	14,475
Payables	(4,914)	(11,109)	(13,183)	(15,410)	(15,925)	(16,458)	(17,009)	(17,580)	(18,170)	(18,781)
Net working capital	2,459	10,350	12,859	15,549	16,074	16,618	17,180	17,762	18,363	18,984

Returns, scenarios and sensitivity

AUD · IRR on undiscounted cash flows; NPV at the stated rates


	Investment (t=0)	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Project cash flow (incl. exit value)	(56,491)	(46,431)	103,480	138,316	181,714	190,798	197,525	204,911	212,460	220,100	2,135,360
Equity cash flow (incl. equity exit value)	(56,491)	(46,431)	103,480	138,316	181,714	190,798	197,525	204,911	212,460	220,100	2,135,360

Project IRR	91.0%
Project NPV @ 11.5% (first flow at t=0)	1,402,158
Equity IRR	91.0%
Equity NPV @ 14.5%	1,132,102

Scenario	Project IRR	Project NPV	Equity IRR	Equity NPV	Min DSCR	Peak equity
downside	53.3%	702,400	53.3%	552,490		134,098
base	91.0%	1,402,158	91.0%	1,132,102		102,922
upside	111.9%	1,773,361	111.9%	1,439,236		87,692
Downside: price -10%, utilisation -10%, volume -10%, capex +15%, opex +5%, loan rate +2pts. Upside: price +5%, utilisation +5%, volume +5%, capex -5%.

Driver (±10%)	Project NPV at −10%	Project NPV at +10%	Swing
price	975,562	1,828,754	853,192
volume	1,109,824	1,694,492	584,668
cogs	1,536,420	1,267,896	268,524
payroll	1,509,883	1,294,432	215,451
opex	1,441,403	1,362,913	78,490
capex	1,404,306	1,400,010	4,296
utilisation	1,402,158	1,402,158	0