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SOURCES OF CASH:
Equity Contributions $ 125,000
Loan Financing 100,000
TOTAL SOURCES OF CASH $ 225,000
USES OF CASH:
Land & Building 0
Leasehold Improvements 25,000
Bar / Kitchen Equipment 30,000
Bar / Dining Room Furniture 5,000
Professional Services 5,000
Organizational & Development 26,500
Interior Finishes & Equipment 17,500
Exterior Finishes & Equipment 5,000
Pre-Opening Expenses 36,000
Working Capital & Contingency 75,000
TOTAL $30,000
Smith & Berry
Initial Weekly Sales Projections
Dine-In % of
Pizza Other Carry - Out Delivery Total $$ Sales Week
Lunch Covers 8 5 5 28
Lunch Sales 137 29 80 446 692
Monday Dinner Covers 5 4 5 40
Dinner Sales 86 23 80 637 825
Total Sales 222 52 159 1,083 1,517 10.4%
Lunch Covers 8 5 5 35
Lunch Sales 137 29 80 558 803
Tuesday Dinner Covers 5 4 5 40
Dinner Sales 86 23 80 637 825
Total Sales 222 52 159 1,195 1,628 11.1%
Lunch Covers 10 8 6 35
Lunch Sales 171 47 96 558 871
Wednesday Dinner Covers 5 4 4 45
Dinner Sales 86 23 64 717 889
Total Sales 257 70 159 1,274 1,760 12.0%
Lunch Covers 12 8 10 40
Lunch Sales 205 47 159 637 1,049
Thursday Dinner Covers 10 8 4 50
Dinner Sales 171 46 64 797 1,077
Total Sales 376 93 223 1,434 2,125 14.5%
Lunch Covers 14 10 15 40
Lunch Sales 239 59 239 637 1,174
Friday Dinner Covers 12 6 8 90
Dinner Sales 205 34 127 1,434 1,801
Total Sales 445 93 366 2,071 2,975 20.3%
Lunch Covers 5 4 8 35
Lunch Sales 86 23 127 558 794
Saturday Dinner Covers 8 3 10 95
Dinner Sales 137 17 159 1,513 1,827
Total Sales 222 41 287 2,071 2,620 17.9%
Lunch Covers 6 7 8 20
Lunch Sales 103 41 127 319 590
Sunday Dinner Covers 12 6 10 65
Dinner Sales 205 34 159 1,035 1,434
Total Sales 308 75 287 1,354 2,024 13.8%
Dinner/Late Night
Open 5 PM - 4 AM Monday Tuesday Wednesday Thursday Friday Saturday Sunday WEEK
Buffet & Non-Pizza Customers 4 4 4 8 6 3 6 35
Dine-In & Carry Out Pizzas 10 10 9 14 20 18 22 103
Delivery Pizzas 40 40 45 50 90 95 65 425
Total Pizzas 50 50 58 72 116 116 93 555
Total Restaurant $$ Sales $825 $825 $889 $1,077 $1,801 $1,827 $1,434 $8,678
Position Rate Hours # Hours # Hours # Hours # Hours # Hours # Hours # Labor $
Kitchen -
Pizza Makers $ 10.00 10.0 1 10.0 1 10.0 0 10.0 0 10.0 0 10.0 0 10.0 0 $200
Prep Cooks $ 8.00 12.0 1 12.0 1 12.0 1 12.0 1 12.0 1 12.0 1 12.0 1 $672
Other $ 8.00 6.0 0 8.0 0 8.0 0 8.0 0 8.0 0 8.0 0 8.0 0 $0
Dining Room / Counter -
Counter Staff $ 12.00 4.0 1 4.0 1 4.0 1 4.0 1 4.0 1 4.0 1 4.0 1 $336
Other $ 8.00 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 $0
Delivery -
Drivers $ 0.00 6.0 2 6.0 2 6.0 2 6.0 2 6.0 3 6.0 3 6.0 2 $0
Other $ 0.00 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 $0
Labor Cost Per Shift - $ $244 $244 $144 $144 $144 $144 $144 $1,208
Labor Cost Per Shift - % 29.6% 29.6% 16.2% 13.4% 8.0% 7.9% 10.0% 13.9%
- DAY / WEEK TOTALS - HOURLY LABOR (Food & Beverage Sales Only)
Total Sales $1,517 $1,628 $1,760 $2,125 $2,975 $2,620 $2,024 $14,650
Hourly Labor - $ $460 $460 $360 $360 $360 $360 $360 $2,720
Hourly Labor Cost - % 30.3% 28.2% 20.5% 16.9% 12.1% 13.7% 17.8% 18.6%
Hourly Labor Cost (from "Hourly Labor" worksheet) Weekly Ave Annual %
Total Hourly Labor Cost 3,378 175,656 23.1%
Total Management Salaries 76,000 10.0%
Total Gross Payroll 251,656 33.0%
Loan Financing
Principle Amount 100,000
Rate 8.0%
Term 10 years Annual $
Monthly Payment 1,213 monthly pmt. 14,559
Worksheet: Assumptions
06/08/2011
Smith & Berry
Annual Operating Projection - Detail
First Full Year of Operations
MONTHLY AVE ANNUAL
Sales:
Food & Beverage $ 63,483 95.7% $ 761,793 95.7%
Delivery Fees 2,851 4.3% 34,216 4.3%
TOTAL SALES 66,334 100.0% 796,009 100.0%
Cost of Sales: (as a % of food & beveage sales)
Food & Beverage 13,966 22.0% 167,594 22.0%
Paper 2,222 3.5% 26,663 3.5%
TOTAL COST OF SALES 16,188 25.5% 194,257 25.5%
Gross Profit 50,146 75.6% 601,751 75.6%
Payroll:
Salaries & Wages -
Management 6,333 9.5% 76,000 9.5%
Hourly Employees 14,638 22.1% 175,656 22.1%
Total Salaries & Wages 20,971 31.6% 251,656 31.6%
Employee Benefits -
Payroll Taxes - Mgt. Incentive 2,265 3.4% 27,179 3.4%
Worker's Comp. 839 1.3% 10,066 1.3%
Group Medical Insurance 0 0.0% 0 0.0%
Other 500 0.8% 6,000 0.8%
Total Employee Benefits 3,604 5.4% 43,245 5.4%
TOTAL PAYROLL 24,575 37.0% 294,901 37.0%
PRIME COST 40,763 61.5% 489,158 61.5%
Other Controllable Expenses:
Direct Operating Expenses
Auto Expense 0 0.0% 0 0.0%
Cleaning Supplies 200 0.3% 2,400 0.3%
Contract Cleaning 300 0.5% 3,600 0.5%
Extermination 300 0.5% 3,600 0.5%
Kitchen Utensils 150 0.2% 1,800 0.2%
Laundry & Linen 150 0.2% 1,800 0.2%
Licenses & Permits 300 0.5% 3,600 0.5%
Miscellaneous 300 0.5% 3,600 0.5%
Security System 250 0.4% 3,000 0.4%
Uniforms 100 0.2% 1,200 0.2%
Total Direct Operating Expenses 2,050 3.1% 24,600 3.1%
Music & Entertainment -
Musak & Sound System 65 0.1% 780 0.1%
Other 0 0.0% 0 0.0%
Total Music & Entertainment 65 0.1% 780 0.1%
Marketing -
Selling & Promotions 3,000 4.5% 36,000 4.5%
Advertising 250 0.4% 3,000 0.4%
Printed Materials 500 0.8% 6,000 0.8%
Research 0 0.0% 0 0.0%
Total Marketing 3,750 5.7% 45,000 5.7%
Utilities -
Electrical 800 1.2% 9,600 1.2%
Gas 1,200 1.8% 14,400 1.8%
Water 0 0.0% 0 0.0%
Trash Removal 100 0.2% 1,200 0.2%
Total Utilities 2,100 3.2% 25,200 3.2%
General & Administrative -
Accounting Services 600 0.9% 7,200 0.9%
Bank Charges 50 0.1% 600 0.1%
Bank Deposit Services 0 0.0% 0 0.0%
Cash (Over) / Short 5 0.0% 60 0.0%
Credit Card Charges 1,287 1.9% 15,449 1.9%
Dues & Subscriptions 150 0.2% 1,800 0.2%
Insurance - Non-Owned Auto Liability (delivery) 200 0.3% 2,400 0.3%
Miscellaneous 200 0.3% 2,400 0.3%
Worksheet: P&L-Detail
06/08/2011
Smith & Berry
Annual Operating Projection - Detail
First Full Year of Operations
MONTHLY AVE ANNUAL
Office Supplies 100 0.2% 1,200 0.2%
Payroll Processing 0 0.0% 0 0.0%
Postage 250 0.4% 3,000 0.4%
Legal & Professional Fees 0 0.0% 0 0.0%
Protective Services 0 0.0% 0 0.0%
Telephone 300 0.5% 3,600 0.5%
Training Costs 25 0.0% 300 0.0%
Total General & Administrative 3,167 4.8% 38,009 4.8%
Repairs & Maintenance -
Building Repairs & Maint. 0 0.0% 0 0.0%
Equipment Repairs & Maint. 500 0.8% 6,000 0.8%
Grounds, Landscaping & Parking Lot 0 0.0% 0 0.0%
Total Repairs & Maintenance 500 0.8% 6,000 0.8%
CONTROLLABLE PROFIT 13,938 21.0% 167,261 21.0%
Occupancy Costs & Depreciation
Occupancy Costs -
Rent & Common Area Maintenance 7,000 10.6% 84,000 10.6%
Percentage Rent 0 0.0% 0 0.0%
Common Area Maintenance (CAM) 0 0.0% 0 0.0%
Equipment Rental 0 0.0% 0 0.0%
Real Estate Taxes 0 0.0% 0 0.0%
Personal Property Taxes 200 0.3% 2,400 0.3%
Insurance on Building & Contents 700 1.1% 8,400 1.1%
Liquor Liability 0 0.0% 0 0.0%
Total Occupancy Costs 7,900 11.9% 94,800 11.9%
Depreciation & Amortization -
Building 0 0.0% 0 0.0%
Leasehold Improvements 130 0.2% 1,557 0.2%
Furniture & Equipment 583 0.9% 7,000 0.9%
Pre-Opening Costs 717 1.1% 8,600 1.1%
Total Depreciation 1,430 2.2% 17,157 2.2%
TOTAL OCCUPANCY & DEPREC. 9,330 14.1% 111,957 14.1%
Worksheet: P&L-Detail
Smith & Berry
Annual Operating Projection - Summary
First Full Year of Operations
KEY RATIOS:
Sales Per Square Foot $531
Sales Per Seat $31,840
Sales to Investment 3.5
Smith & Berry
5 Year Operating Projections
Year 1 Year 2 Year 3 Year 4 Year 5
INVESTMENT ASSUMPTIONS
* Investor "Payback" is the point at which the investor recoups 100% of their Equity Contribution.
Annual Monthly
Percentage Rent $- $-
MONTHLY ANNUAL
Sales:
Total Sales $ 60,789 100.0% $ 729,470 100.0%
TOTAL SALES 60,789 100.0% 729,470 100.0%
Cost of Sales:
Food & Beverage 13,374 22.0% 160,483 22.0%
Paper 2,128 3.5% 25,531 3.5%
TOTAL COST OF SALES 15,501 25.5% 186,015 25.5%
Gross Profit 45,288 74.5% 543,455 74.5%
Payroll:
Salaries & Wages 20,816 34.2% 249,793 34.2%
Employee Benefits 3,581 5.9% 42,969 5.9%
TOTAL PAYROLL 24,397 40.1% 292,762 40.1%
PRIME COST 39,898 65.6% 478,777 65.6%
Other Controllable Expenses:
Direct Operating Expenses 2,050 3.4% 24,600 3.4%
Music & Entertainment 65 0.1% 780 0.1%
Marketing 3,750 6.2% 45,000 6.2%
Utilities 2,100 3.5% 25,200 3.5%
General & Administrative Expenses 3,113 5.1% 37,354 5.1%
Repairs & Maintenance 500 0.8% 6,000 0.8%
TOTAL OTHER CONTROLLABLE EXP. 11,578 19.0% 138,934 19.0%
CONTROLLABLE PROFIT 9,313 15.3% 111,759 15.3%
Occupancy Costs & Depreciation
Occupancy Costs 7,900 13.0% 94,800 13.0%
Depreciation & Amortization 1,430 2.4% 17,157 2.4%
BREAK-EVEN SALES
Week $14,028
Month $60,789
Year $729,470