Financial Roadmap 2026

1. Where We Stand — 2025 Actual

2025 was a transition year. Jason ran the business as a team through October, then shed all employees and ended the year essentially solo. The numbers reflect that split.

The structural shift

For a decade, Icon Modern was JLF's primary production partner — accounting for the majority of revenue. In 2025 that relationship restructured: Icon wound down production work through the year, then became a paying tenant in November/December. By year-end, JLF had flipped from a high-volume production shop into a lean solo operation with rental income.

That shift tells the real story of 2025.

2025 P&L Summary

Income:

| Category | Amount | Notes |

|---|---|---|

| JL Custom Sales | $158,850 | Non-Icon custom work |

| Icon Sales (Jan–Mar) | $95,670 | Production work, ended Q1 |

| Icon Payments (Apr–Dec) | $217,141 | Wind-down production payments |

| Icon Rent | $6,000 | Dec only — $6K/mo started Nov/Dec |

| Other Rent | $16,000 | $2K/mo May–Dec, studio tenants |

| Offcut Sales | $6,752 | Product line |

| Total Income | $500,413 | |

Cost of Goods Sold:

| Category | Amount |

|---|---|

| Materials | $39,640 |

| Freight & Shipping | $867 |

| Parts & Materials | $1,565 |

| Subcontractors (Dan + Tyler) | $20,023 |

| Total COGS | $62,095 |

Gross Profit: $438,318 (87.6% margin)

Operating Expenses:

| Category | Amount | Notes |

|---|---|---|

| Payroll — wages | $183,198 | Employees through ~Oct |

| Payroll taxes | $14,616 | |

| Payroll expense | $1,390 | |

| Workers Comp | $7,226 | |

| Health Insurance | $22,576 | |

| Total Payroll | $229,006 | Gone as of Nov 2025 |

| Rent | $98,000 | $7,500/mo → $9,500/mo in Sep |

| Utilities | $26,115 | |

| Shop Supplies | $14,824 | |

| Business Insurance | $9,370 | |

| Health Insurance | $22,576 | Included in payroll row above |

| Finish & Supplies | $5,891 | |

| Tools & Capital | $4,904 | |

| Professional Fees | $2,500 | |

| Internet | $2,080 | |

| Dues & Subscriptions | $1,541 | |

| All Other | ~$15,000 | Fees, merchant, misc |

| Total Overhead | $170,249 | |

| Total Operating | $399,255 | |

Total Expenses: $461,350

Net Profit: $39,063

What actually happened

Revenue looks big at $500K — but $313K of that was Icon production work that no longer exists. Strip that out and Jason's real independent revenue base was about $182K (JL Sales + Offcut + Rent).

The other number that matters: $229K in payroll wiped out in Q4. When that dropped to zero, the cost structure transformed.

The Nov–Dec preview of the solo model was thin — roughly $43K in income, $39K in expenses, $4K net. But that period still included carryover overhead from a larger operation. 2026 is the clean read.

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2. 2026 Baseline — What's Already in the Spreadsheet

Jason's own projection is conservative by design. It includes only confirmed revenue: custom work at a realistic solo pace, Icon rent (locked in), and the existing studio space tenant.

Baseline projection

Income:

| Category | Monthly | Annual | Notes |

|---|---|---|---|

| JLF Custom Sales | $12,000 ($18K in Jan) | $150,000 | Solo pace, conservative |

| Icon Rent | $6,000 | $72,000 | Confirmed tenant |

| Studio Space Rent | $2,000–$3,000 | $32,000 | Ramping $2K → $3K from May |

| Showroom (Peerspace) | Ramp from $250 | ~$8,750 | Early ramp, not full year |

| Total Income | ~$21,000 | $254,000 | |

COGS: $26,000 (materials $15K, subs $11K)

Gross Profit: $228,000 (89.8% margin)

Operating Expenses (as projected):

| Category | Monthly | Annual |

|---|---|---|

| Rent | $9,500 | $114,000 |

| Utilities | $1,800 | $21,600 |

| Shop Supplies | $1,000 | $12,000 |

| Business Insurance | $773 | $9,276 |

| Internet | $120 | $1,440 |

| Office Supplies | $100 | $1,200 |

| Vehicle Fuel | $50 | $600 |

| Total Overhead | $13,343 | $160,116 |

Net Profit (as projected): $67,884

The health insurance gap

NOTE: Health insurance is not in the 2026 projection. In December 2025 Jason was paying $2,131/month. Annualized that's $25,572. This is real money that needs to land somewhere — either as a business expense or as an increased draw to cover it personally. If it's a business expense, corrected net profit is approximately $42,000. If Jason is handling it through ACA or other means outside the business, the projection holds closer to $67K. This needs a decision before the projection is treated as final.

Corrected baseline (health insurance included as business expense): ~$42,000 net profit

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3. The Goal — Double 2025 Profit

Target: $78,000 net profit (double the 2025 actual of $39,063)

The gap

| Scenario | Net Profit |

|---|---|

| Projected baseline (no health insurance) | $67,884 |

| Corrected baseline (with health insurance ~$25K) | ~$42,000 |

| Target | $78,000 |

If health insurance is a business expense, the gap is approximately $36,000.

If health insurance is handled outside the business, the gap is approximately $10,000 — and the baseline may already hit the target with modest Peerspace bookings.

Resolve the health insurance question first. It's the single biggest variable in this analysis.

Why this is achievable

The business model is now high-leverage: fixed overhead is largely covered by confirmed rent income, and every dollar of new revenue flows almost directly to the bottom line. COGS on custom work is roughly 10% (materials + occasional sub). Peerspace and education are near-100% margin on variable costs. The gap is fillable with one or two activated revenue streams.

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4. Revenue Roadmap — How to Get There

These are the levers ranked by how quickly they can move.

Peerspace / Showroom Rentals

Current projection: $8,750 (early ramp)

Realistic full-year upside: $28,000–$50,000

The listing is live. This is the fastest path to incremental revenue because the infrastructure is already in place — the space exists, the listing is active, the only variable is booking frequency.

How the math works: Front space listed at $75/hr (meetings/productions) and $100/hr (events). Peerspace takes 20%. To net $28,800/year: 8 bookings/month at $75/hr for 4 hours each, grossing $3,600/mo, netting $2,880/mo after fees. That's 2 bookings per week. Not aggressive.

What it takes:

• Listing optimization (photos, description, response time, reviews)
• Minimum 5 reviews to build trust
• Possible cross-listing on Giggster for additional exposure
• Availability calendar kept current

Timeline: Revenue can start immediately. Meaningful booking volume likely takes 60–90 days to build.

Gap contribution at full run rate: +$19,250 net above current projection (28K - 8.75K already in projection)

Education / Classes

Current projection: $0

Realistic Phase 1 annual: $14,400–$16,400

Weekly beginner class — 6 students, $50/session, one evening per week. Simple and low-cost to launch.

How the math works: 6 students x $50 x 48 weeks = $14,400/year. Add 2 guest workshops/year at $1,000 net = $16,400 total. Direct costs: materials (~$2K/year), insurance increment (~$1K), marketing ($500). Net contribution: ~$12,900.

What it takes:

• Set a start date and announce it
• Social media and email list announcement
• Basic liability waiver and insurance review
• Space setup (already have the shop)

Timeline: Could launch in April or May. Revenue is immediate once classes begin.

Gap contribution: +$12,900 net

Offcut Sales

Current projection: $0

Realistic: $5,000–$8,000

Offcut produced $6,752 in 2025 with minimal attention. The brand direction is being reassessed after Lesley's departure, but the product exists. Spring is the natural window for furniture buyers.

What it takes:

• 2–3 new product posts on social
• Email blast to Offcut subscribers
• Scrap sale or limited drop event
• No new investment required

Timeline: Could activate in March–April. Low effort, quick turnaround.

Gap contribution: +$5,000 net (assuming ~60% margin = $3,000 net contribution)

JLF Custom Work — Sales Growth

Current projection: $150,000 ($12K/mo)

Realistic upside: $175,000–$200,000

Jason's 2025 JL-only sales (non-Icon) were $158,850 — already above the $150K projection. The baseline is conservative. The question is whether the pipeline supports higher volume.

Custom work is the highest-margin revenue but the most time-constrained. At a solo pace, there's a ceiling. The upside here is less about working more hours and more about project selection — prioritizing higher-margin jobs and maintaining a full pipeline through marketing.

What it takes:

• Consistent Instagram posting (process, finished work, studio)
• Newsletter to design firm contacts (264 contacts already in Mailchimp)
• Active referral relationships with design firms
• Response time and professionalism when inquiries come in

Timeline: Marketing effects take 60–90 days to show in the pipeline.

Gap contribution at $175K: +$25,000 above baseline (after COGS at ~10%)

Retail (Belden Woodshop)

Current: Not launched

Timeline: 2026 Q3–Q4 at earliest

Research is done. The concept is viable. But it requires setup, inventory, and sustained attention — not a quick win. Worth keeping on the roadmap but not a 2026 gap-filler.

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5. Scenario Analysis

All scenarios assume health insurance ($25,572) is a business expense. If it is not, add $25,572 to each net profit figure.

Scenario A — Baseline Only

Revenue from confirmed sources, Peerspace at current early-ramp level.

| Source | Amount |

|---|---|

| JLF Custom Sales | $150,000 |

| Icon Rent | $72,000 |

| Studio Space Rent | $32,000 |

| Showroom / Peerspace | $8,750 |

| Total Revenue | $262,750 |

| COGS | $26,000 |

| Operating Expenses | $160,116 |

| Health Insurance | $25,572 |

| Net Profit | ~$51,000 |

Verdict: Comfortable but below target.

Scenario B — Target (doubles 2025 profit)

Add Peerspace at meaningful volume, launch education, activate Offcut.

| Source | Amount |

|---|---|

| JLF Custom Sales | $160,000 |

| Icon Rent | $72,000 |

| Studio Space Rent | $32,000 |

| Peerspace / Showroom | $28,000 |

| Education (Phase 1) | $14,400 |

| Offcut Sales | $6,000 |

| Total Revenue | $312,400 |

| COGS | $29,000 |

| Peerspace Fees (20%) | $5,600 |

| Education Costs | $3,500 |

| Operating Expenses | $160,116 |

| Health Insurance | $25,572 |

| Net Profit | ~$88,600 |

Verdict: Above target. Requires Peerspace to be actively booked (8–10 bookings/month) and education to launch by May.

Scenario C — Conservative (health insurance excluded from business)

If Jason covers health insurance personally (ACA, etc.) and it doesn't run through the business:

| Source | Amount |

|---|---|

| JLF Custom Sales | $150,000 |

| Icon Rent | $72,000 |

| Studio Space Rent | $32,000 |

| Peerspace | $15,000 |

| Total Revenue | $269,000 |

| COGS | $26,000 |

| Operating Expenses | $160,116 |

| Net Profit | ~$82,884 |

Verdict: Hits target with just Peerspace at half its potential — no education or Offcut required.

BOTTOM LINE: The health insurance question determines how hard you need to push. If it's a business expense, you need two or three revenue levers active. If it's not, modest Peerspace growth likely gets you there.

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6. Monthly Tracking Framework

Monthly dashboard

| Metric | Target | Source |

|---|---|---|

| JLF Custom Work | $12,500/mo+ | QuickBooks |

| Icon Rent | $6,000/mo | Bank deposit |

| Studio Space Rent | $2,500–$3,000/mo | Bank deposit |

| Peerspace Bookings | 8+/month | Peerspace dashboard |

| Peerspace Revenue (net) | $2,400/mo | Peerspace payouts |

| Education Revenue | $1,200/mo (once live) | Direct |

| Total Revenue | $21,000/mo baseline | QuickBooks |

| Total Expenses | ~$15,500/mo | QuickBooks |

| Net Monthly | $5,500+/mo | QuickBooks |

Breakeven

Fixed monthly overhead: ~$13,343 (rent, utilities, insurance, internet, office)

Add health insurance: ~$2,131/mo

Total fixed monthly burn: ~$15,474

Custom work at current pricing covers overhead by itself. Rental income and new verticals are pure upside on top of that.

What "on track" looks like by quarter

Q1 (Jan–Mar): Custom pipeline full. Peerspace listing optimized. Education launch decision made. Offcut spring plan in place.

Q2 (Apr–Jun): Education launched. Peerspace bookings building. First Offcut sales of the year.

Q3 (Jul–Sep): All three new verticals producing. Mid-year check against target.

Q4 (Oct–Dec): Assess retail opportunity for 2027. Year-end profitability clear.

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7. Priority Actions

Ranked by impact and speed.

Immediate (this week)

• Resolve the health insurance question — personal expense or business? Recalculate the real baseline accordingly.
• Set a Peerspace optimization session — update photos, description, response time. First reviews matter most.
• Set an education launch date — even a soft target creates urgency.

Near-term (March–April)

• Send spring newsletter to 264 Mailchimp contacts — custom work inquiry + Offcut spring preview.
• Post 2–3 Offcut product updates on Instagram/Offcut social.
• Get first Peerspace booking and review.
• Confirm Studio Space rent ramp timeline with tenant.

Ongoing

• Custom work pipeline — keep it full. One strong design firm relationship = 2–3 projects/year.
• Peerspace — respond quickly, keep calendar updated, request reviews after every booking.
• Instagram — process shots, finished pieces, studio life. 2–3 posts/week keeps visibility.
• Monthly QuickBooks review — compare actual vs these targets.

Jason's decisions required

• Health insurance handling (affects baseline by $25K)
• Education launch date
• Offcut direction — continue as Jason-only or pause until brand is resolved
• Retail — 2027 or still 2026?

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Key Numbers Reference

| Metric | Value |

|---|---|

| 2025 Net Profit (actual) | $39,063 |

| 2026 Target (double 2025) | $78,000 |

| Baseline projection | $67,884 |

| Corrected baseline (with health ins.) | ~$42,000 |

| Gap to target (worst case) | ~$36,000 |

| Gap to target (best case) | ~$10,000 |

| Fixed monthly overhead | ~$15,474 |

| Annual rent | $114,000 |

| Confirmed rental income (Icon + Studio) | $104,000 |

| Rent coverage from confirmed tenants | 91% |

Rent is essentially covered by tenants alone. Everything Jason earns from custom work is building toward profit — not paying rent. That's the new model.

SOURCES & REFERENCES

• QuickBooks Online — Accounting and P&L tracking
• Peerspace — Venue rental marketplace
• Giggster — Additional venue listing platform
• Mailchimp — Email marketing platform
• Healthcare.gov (ACA Marketplace) — Health insurance options
• Shopify — Offcut Store — Offcut product line e-commerce