作业要求：
（1）此类企业的资金来自何处？你会选择哪一个评估。 （最多750字）
该业务是针对假日期间租车的市场来说的。随着越来越多的人愿意乘坐汽车来出游，租赁业务对私人投资具有很大的吸引力，并且盈利能力也在提高（Cassar，2014）。以健康和环保的方式在面包车开始的旅行，同时可以与家人和爱人建立关系，这对很多人来说都是时尚的尝试。所以现在迫切需要资助该项目来经营业务。
众所周知，开办新业务的资金可以来自几个方面。一方面，考虑了投资回收计划，这回导致要在长期资金和短期资金之间的选择。资金的时间表应该涉及公司财务，因为投资回收的要求可能会产生违约风险，这对新生企业来说是一个挑战。考虑到小规模的企业早期易受经济形势变化的影响，最好尽早支付投资（Tian和Li，2002）。另一方面，资本基金或借款是开办企业的两种方式。资本化资金包括多种选择，包括直接吸收投资和股票发行。对于私营小企业来说，私募股权投资是一种实用的方式。而负债来自银行贷款，债券和其他。对于这种分类的记录，与负债相比，股权为公司提供了很少的财务负担，如固定的利息支付（Zuo，2002）。然而，资本化资金对新的首发很难，因为很难招募到新的合作伙伴。由于利息费用和便利性相对较低，银行贷款是为新计划提供资金的常用方式。此外，融资租赁脱颖而出，因为它为设备和工厂提供实际安装。
（2）创建自己的五年财务计划（从启动开始），用于打动潜在投资者。 （使用注释和附录来显示详细的计算。）
（3）使用您的第五年财务预测，您如何评价业务？批判性地考虑各种退出策略选项的优缺点，证明您可以选择哪一种。 （最多750字）
Financial plan on VW Camper Van rental business
(1) Where might funding for this type of venture come from? Evaluate which one would you choose. (max 750 words)
This business targets the market for renting vehicles during holidays. With more people willing to take a trip in van, rental business is attractive for private investment with increasing profitability (Cassar, 2014). Travelling in van in a healthy and environmental friendly way, which can build up relationship with families and lovers at the same time, is fashion for many people. It is urgent to fund the program to run the business.
It is known that funding for starting a new business can come from several ways. On the one hand, payback schedule is considered, which leads to the choice between long term funding and short time funding. The timeline of funds should be involved in corporate finance because the requirement of payback may incur risk of default, which is challenge for a newly born business. Considering that small size business at early age is vulnerable to the changeable economic situation, it is preferred to pay the investment back as late as possible (Tian and Li, 2002). On the other hand, capital fund or borrows are two ways accessible to start the business. Capitalized funding consists of several options, including direct absorption of investment and stock offerings. For the private small business, direct investment from private equity is a practical way. Liabilities come from bank loan, bonds and others. For the record of this classification, compared with liabilities, equity provides corporation with little financial burdens such as fixed payment of interest (Zuo, 2002). However, capitalized funding is tough for new starter, because it is hard to recruit new partners. Bank loan is the common way to fund the new program due to comparably low interest fee and convenience. In addition, finance lease stands out because it provides equipments and plants with actually installment.
(2) Create your own five year financial plan (from start-up) that you would use to impress potential investors. (Use notes and appendices to show detailed calculations.)
There are some assumptions to give. It is not easy to predict the demands of the camper van rental business, because the demands are influenced by specific clients. It is presumed that there are 52 weeks in a year. As required by utilization rate, the revenues per van in one year are estimated as below. ....................
(3) Using your year five financial forecast, how might you value the business? Critically considering the advantages and disadvantages of a full range of exit strategy options, justify which one you would choose. (max 750 words)
Before making decision about the profitability of the business, it is preferred to presume that two vans are invested into the business (Onyemah, Rivera Pesquera, and Ali, 2014). Depending on the financial plan above, it can be realized that with more vehicles invested into the rental business, both of the revenues and profits increase. To explain the balance between costs and revenues, calculate the gross profit margin to compare the costs with the revenues from the perspective of investors (Lagace, 2003). Gross profit margin is calculated from the net profit divided by total investment, involv
