FAVE - Top Sheets

8/2/2019 FAVE - Top Sheets

1/5

USE OF FUNDS - PREOPENING BUDGET

Research + Development Product Development $12,000.00

Brand Strategy + Architecture $9,400.00

Brand Design Fees $3,500.00

Legal Fees $5,000.00

Product Testing + Focus Groups $2,500.00

Professional Fees - Tax Strategy $700.00

Professional Fees - 15 Group $5,000.00

R&D Contingency-Printing $1,900.00

$40,000.00

Supply Chain & Packaging Proprietary Recipe Development $35,000.00

Packaging Design and Minimum Orders $40,000.00 $75,000.00

Building Interior Build Out / Key Money $122,000.00

General Contractor Fee (15% of build) $18,000.00

Mechanical $25,000.00

Design Consulting Fees $10,980.00

Project Management Fees $13,420.00

Trade Permits & Drawings $5,000.00

$194,400.00

Equipment / Supplies Chairs / Tables $6,250.00

Detail Furnishings $2,000.00

Audio-Visual $3,900.00

Kitchen Equipment $80,000.00

Office Equipment/Furniture $2,500.00

Point-of-Sale System $10,000.00

Signs $7,500.00

Security System $500.00

Telephone System $2,000.00

$114,650.00

Operation Supplies Smallwares / Glass / Kitchen Utensi ls $7,500.00

Paper Products $1,500.00

Linen / Kitchen Uniform $1,000.00

FOH Uniforms Development & Purchase $20,000.00

Menu Boards $5,000.00

Office Supplies $500.00

Misc Front of House $500.00

Misc Back of House $500.00

$36,500.00

PreOpening Expenses Management Labour $0.00

FOH Training Labour $1,417.50

BOH Training Labour $2,100.00

Professional Fees - 15 Group $20,000.00

Building Operations (Utilities, etc) $2,500.00

PreOpening "Rent" $0.00

Training Supplies - Food $1,500.00

Training Supplies - Materials $500.00

Pre=Opening Management Salaries $15,000.00

Recruitment - Advertising $500.00

$43,517.50

Marketing Media, PR & Advertising $60,000.00

Brand Development (Graphic/Strategy) $10,000.00Website $10,000.00

Opening Events $10,000.00

Social Media Development $10,000.00

Miscellaneous Marketing Activities $20,000.00

$120,000.00

Working Capital Inventory - Food $7,500.00

Inventory - Alcohol $5,000.00

Cash on Hand / Cash Floats $44,082.50

$56,582.50

Miscellaneous Financing Licensing Fees $5,000.00

Legal Costs $17,500.00

Rent Deposit $12,750.00

Utilities / Phone Deposit $2,000.00

Lease Broker / Agent Fees $12,500.00

Preopening Insurance $1,000.00

Letter of Credit - Landlord $80,000.00

$130,750.00

Sub-Total $811,400.00

HST (Cash needed) $97,368.00Grand Total $908,768.00

SOURCE OF FUNDS Co-Founders $120,000.00

Equity Investors $1,000,000.00

$1,120,000.00

Overage / Underage of Cash $211,232.00

Total Post-opening Cash on Hand $267,814.50


2/5

USE OF FUNDS - PREOPENING BUDGET for SUBSEQUENT RESTAURANT OPENINGS

Building Interior Build Out / Key Money $122,000.00

General Contractor Fee (15% of build) $18,000.00Mechanical $25,000.00

Design Consulting Fees $10,980.00

Project Management Fees $13,420.00

Trade Permits & Drawings $5,000.00

$194,400.00Equipment / Supplies Chairs / Tables $6,250.00

Detail Furnishings $2,000.00Audio-Visual $3,900.00Kitchen Equipment $65,000.00Office Equipment/Furniture $2,500.00Point-of-Sale System $10,000.00Signs $7,500.00Security System $500.00Telephone System $2,000.00

$99,650.00

Operation Supplies Smallwares / Glass / Kitchen Utensils $7,500.00Paper Products $1,500.00Linen / Kitchen Uniform $1,000.00Menus $1,000.00Office Supplies $500.00Misc Front of House $500.00Misc Back of House $500.00

$12,500.00

PreOpening Expenses Management Labour $0.00FOH Training Labour $1,417.50BOH Training Labour $2,100.00Professional Fees - 15 Group $20,000.00Building Operations (Utilities, etc) $2,500.00PreOpening "Rent" $0.00Training Supplies - Food $1,500.00Training Supplies - Materials $500.00

$28,017.50

Marketing Media/PR Advertising $7,500.00

Opening Events $2,500.00$10,000.00

Working Capital Inventory - Food $7,500.00Inventory - Alcohol $5,000.00Cash on Hand / Cash Floats $44,082.50

$56,582.50

Miscellaneous Financing Licensing Fees $5,000.00Legal Costs $12,000.00Rent Deposit $8,500.00Utilities / Phone Deposit $2,000.00

Lease Broker / Agent Fees $12,500.00

Preopening Insurance $1,000.00$41,000.00

Sub-Total $442,150.00HST (Cash needed) $53,058.00

Grand Total $495,208.00

SOURCE OF FUNDS Re-invested Operational Cash $100,000.00Equity Investors $450,000.00

$550,000.00

Overage / Underage of Cash $54,792.00

Total Post-opening Cash on Hand $111,374.50


3/5

Cash Flow Forecast - Year 1Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year Total

Openings during Month 1Total Open at Month End 1 1 1 1 1 1 1 1 1 1 1 1 1

Assumptions - sales per month

Food Sales 18,550 26,890 35,980 45,080 52,955 52,645 56,690 60,335 56,320 58,355 58,170 55,390 577,360

Beverage Sales 9,610 13,400 17,895 22,215 26,615 26,380 28,840 31,515 29,460 30,285 30,430 28,920 295,565Cash Inflow Avg $ 0Food Sales 1.00 18,550 26,890 35,980 45,080 52,955 52,645 56,690 60,335 56,320 58,355 58,170 55,390 577,360Beverage Sales 1.00 9,610 13,400 17,895 22,215 26,615 26,380 28,840 31,515 29,460 30,285 30,430 28,920 295,565Total Cash Sales 28,160 40,290 53,875 67,295 79,570 79,025 85,530 91,850 85,780 88,640 88,600 84,310 872,925Owner's Investment 120,000 - 0Bank Loan 3-yr var. & 9% - 0Investor Group 1,000,000 - 200,000 150,000 100,000 450,000Line of Credit @ 7% 0Total Other Cash Inflow 1,120,000 0 0 0 0 0 0 0 0 0 200,000 150,000 100,000 450,000

(A) TOTAL CASH INFLOW $1,120,000 $28,160 $40,290 $53,875 $67,295 $79,570 $79,025 $85,530 $91,850 $85,780 $288,640 $238,600 $184,310 1,322,925.00$Cash OutflowDirect Costs MarginFood Sales 33% 6,196 8,981 12,017 15,057 17,687 17,583 18,934 20,152 18,811 19,491 19,429 18,500 192,838Beverage Sales 30% 2,883 4,020 5,369 6,665 7,985 7,914 8,652 9,455 8,838 9,086 9,129 8,676 88,670

(B) TOTAL DIRECT COSTS $9,079 $13,001 $17,386 $21,721 $25,671 $25,497 $27,586 $29,606 $27,649 $28,576 $28,558 $27,176 281,508

General ExpensesOwners' salary 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000Management 3,750 3,750 3,750 3,750 3,750 3,750 3,750 3,750 3,750 3,750 3,750 3,750 45,000Employee 14,413 13,916 15,438 14,862 15,548 14,954 15,491 15,583 15,095 15,535 15,099 14,686 180,621Legal 500 500 500 500 500 500 500 500 500 500 500 500 6,000Advertising and promotion 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 36,000Rent 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 144,000Utilities 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 14,400Insurance 400 400 400 400 400 400 400 400 400 400 400 400 4,800Bank Charges 250 250 250 250 250 250 250 250 250 250 250 250 3,000Printing and Stationary 250 250 250 250 250 250 250 250 250 250 250 250 3,000Telephone & Internet 250 250 250 250 250 250 250 250 250 250 250 250 3,000Alarm System 50 50 50 50 50 50 50 50 50 50 50 50 600Uniforms 250 250 250 250 250 250 250 250 250 250 250 250 3,000Guest Supplies 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 18,000Laundry and Drycleaning 200 200 200 200 200 200 200 200 200 200 200 200 2,400Cleaning Supplies 500 500 500 500 500 500 500 500 500 500 500 500 6,000Subscriptions & Memberships 50 50 50 50 50 50 50 50 50 50 50 50 600Training - - 1,500 - - 1,500 - - 1,500 - - 1,500 6,000Professional Fees 1,154 1,154 1,154 1,154 1,154 1,154 1,154 1,154 1,154 1,154 1,154 1,154 13,848Garbage & Related Disposal 250 250 250 250 250 250 250 250 250 250 250 250 3,000Credit Card and POS Licencing Fees 563 806 1,078 1,346 1,591 1,581 1,711 1,837 1,716 1,773 1,772 1,686 17,459Licencing Costs 282 403 539 673 796 790 855 919 858 886 886 843 8,729

(C) TOTAL GENERAL EXPENSES 42,811.80$ 42,678.50$ 46,108.45$ 44,434.65$ 45,489.30$ 46,378.95$ 45,610.90$ 45,892.90$ 46,722.40$ 45,748.20$ 45,311.40$ 46,269.10$ 543,456.55$Other disbursements

Non-Debt Start-up Costs 852,186 165,069 165,069 165,069 495,208Start-up Costs from Loan & Debt (not investors) - -Income Tax - - - - - - - - - - - - - $0Bank Loan - Interest Payment - $0Bank Loan - Principle Payment - $0Investor Dividends - - - - - $0

(D) TO TAL OTHER DISBURSEMENTS $852,186 - - - - - - - - - 165,069 165,069 165,069 495,208(E) TOTAL CASH OUTFLOW (B+C+D) $852,186 $51,891 $55,680 $63,494 $66,156 $71,161 $71,876 $73,197 $75,499 $74,371 $239,394 $238,939 $238,515 $1,320,172

(F) NET CASHFLOW (A-E) $267,815 ($23,731) ($15,390) ($9,619) $1,139 $8,409 $7,149 $12,333 $16,351 $11,409 $49,246 ($339) ($54,205) $2,753

(G) CASH FROM PREVIOUS PERIOD $0 $267,815 $244,084 $228,694 $219,075 $220,214 $228,623 $235,772 $248,105 $264,455 $275,864 $325,110 $324,772 $267,815

(J) CUMULATIVE CASHFLOW (F+G) $267,815 $244,084 $228,694 $219,075 $220,214 $228,623 $235,772 $248,105 $264,455 $275,864 $325,110 $324,772 $270,567 $270,567


4/5

Cash Flow Forecast - Year 2Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year Total

Openings during Month 1 1 1Total Open at Month End 2 2 2 2 3 3 3 3 4 4 4 4 4

Assumptions - sales per month

Food Sales 55,915 69,370 85,730 94,135 139,488 145,750 153,365 161,890 205,264 207,164 203,559 206,359 1,727,989

Beverage Sales 29,115 35,690 43,865 48,970 73,374 82,115 88,900 91,640 110,600 110,990 107,230 108,890 931,380Cash Inflow Avg $ 0Food Sales 1.00 55,915 69,370 85,730 94,135 139,488 145,750 153,365 161,890 205,264 207,164 203,559 206,359 $1,727,989Beverage Sales 1.00 29,115 35,690 43,865 48,970 73,374 82,115 88,900 91,640 110,600 110,990 107,230 108,890 $931,380Total Cash Sales 85,030 105,060 129,595 143,105 212,862 227,865 242,265 253,530 315,864 318,154 310,789 315,249 $2,659,369Owner's Investment -Bank Loan 3-yr var. & 9% $0Investor Group 200,000 200,000 150,000 150,000 100,000 100,000 $900,000Line of Credit @ 7% $0Total Other Cash Inflow 0 0 200,000 200,000 0 0 150,000 150,000 0 0 100,000 100,000 $900,000

(A) TOTAL CASH INFLOW $85,030 $105,060 $329,595 $343,105 $212,862 $227,865 $392,265 $403,530 $315,864 $318,154 $410,789 $415,249 $3,559,369Cash OutflowDirect Costs MarginFood Sales 33% 18,676 23,170 28,634 31,441 46,589 48,681 51,224 54,071 68,092 86,194 67,522 68,458 $592,751

Beverage Sales 30% 8,735 10,707 13,160 14,691 22,012 24,635 26,670 27,492 33,012 41,178 32,001 32,499 $286,792(B) TOTAL DIRECT COSTS $27,410 $33,877 $41,793 $46,132 $68,601 $73,315 $77,894 $81,563 $101,104 $127,373 $99,524 $100,957 $879,543

General Expenses

Owners' salary 4,000 4,000 4,000 4,000 6,000 6,000 6,000 6,000 8,000 8,000 8,000 8,000 $72,000Management 7,500 7,500 7,500 7,500 11,250 11,250 11,250 11,250 15,000 15,000 15,000 15,000 $135,000Employee 24,904 24,649 29,353 28,634 46,837 50,059 48,452 48,895 63,781 64,684 62,529 62,191 $554,969Legal 1,000 1,000 1,000 1,000 1,500 1,500 1,500 1,500 1,900 1,900 1,900 1,900 $17,600

Advertising and promotion 2,250 2,250 2,250 2,250 3,000 3,000 3,000 3,000 3,850 3,850 3,850 3,850 $36,400Rent 20,500 20,500 20,500 20,500 29,500 29,500 29,500 29,500 41,000 41,000 41,000 41,000 $364,000Utilities 2,100 2,100 2,100 2,100 3,300 3,300 3,300 3,300 4,500 4,500 4,500 4,500 $39,600Insurance 750 750 750 750 1,150 1,150 1,150 1,150 1,550 1,550 1,550 1,550 $13,800Bank Charges 400 400 400 400 550 550 550 550 700 700 700 700 $6,600Printing and Stationary 450 450 450 450 650 650 650 650 858 858 958 958 $8,033Telephone & Internet 500 500 500 500 750 750 750 750 1,000 1,000 1,000 1,000 $9,000

Alarm System 100 100 100 100 150 150 150 150 200 200 200 200 $1,800Uniforms 400 400 400 400 400 400 400 1,400 692 692 692 1,692 $7,967Guest Supplies 2,700 2,700 2,700 2,700 3,700 3,700 3,700 3,700 4,492 4,492 4,492 4,492 $43,567Laundry and Drycleaning 400 400 400 400 600 600 600 600 800 800 800 800 $7,200Cleaning Supplies 1,000 1,000 1,000 1,000 1,200 1,200 1,200 1,200 1,400 1,400 1,400 1,400 $14,400Subscriptions & Memberships 150 150 150 150 400 400 400 400 650 650 650 650 $4,800Training - 1,500 - 1,000 1,500 - - 4,000 375 375 1,875 2,875 $13,500Miscellaneous 2,308 2,308 2,308 2,308 3,058 3,058 3,058 3,058 3,808 3,808 3,808 3,808 $36,696

Garbage & Related Disposal 500 500 500 500 750 750 750 750 1,000 1,000 1,000 1,000 $9,000Credit Card and POS Licencing Fees 1,701 2,101 2,592 2,862 4,257 4,557 4,845 5,071 6,317 6,363 6,216 6,305 $53,187Licencing Costs 850 1,051 1,296 1,431 2,129 2,279 2,423 2,535 3,969 3,992 3,919 3,963 $29,837

(C) TOTAL GENERAL EXPENSES $74,462 $76,309 $80,248 $80,935 $122,630 $124,803 $123,628 $129,409 $165,843 $166,815 $166,039 $167,834 $1,478,956Other disbursementsNon-Debt Start-up Costs 165,069 165,069 165,069 165,069 165,069 165,069 165,069 165,069 $1,320,555Start-up Costs from Loan & Debt (not investors) $0Income Tax - - 52,048 - - - - - - - - - $52,048Bank Loan - Interest Payment $0Bank Loan - Principle Payment $0Investor Dividends $0

(D) TOTAL OTHER DISBURSEMENTS - $0 $217,117 $165,069 $165,069 $0 $165,069 $165,069 $165,069 $0 $165,069 $165,069 $1,372,603(E) TOTAL CASH OUTFLOW (B+C+D) $101,873 $110,185 $339,159 $292,136 $356,301 $198,118 $366,591 $376,042 $432,016 $294,187 $430,632 $433,861 $3,731,101

(F) NET CASHFLOW (A-E) ($16,843) ($5,125) ($9,564) $50,969 ($143,439) $29,747 $25,674 $27,488 ($116,152) $23,967 ($19,842) ($18,611) ($171,732)

(G) CASH FROM PREVIOUS PERIOD $270,567 $253,725 $248,599 $239,035 $290,004 $146,565 $176,312 $201,985 $229,474 $113,322 $137,289 $117,446 $270,567

(J) CUMULATIVE CASHFLOW (F+G) $253,725 $248,599 $239,035 $290,004 $146,565 $176,312 $201,985 $229,474 $113,322 $137,289 $117,446 $98,835 $98,835


5/5

Projected Income StatementYear 1 Year 2

RevenuesSales

Food Sales 577,360 1,727,989

Beverage Sales 295,565 931,380

(A) Total Sales $872,925 $2,659,369Cost of Goods Sold

Food Sales 192,838 592,751

Beverage Sales 88,670 286,792

(F) Cost of Goods Sold 281,508 879,543(G) GROSS MARGIN (A-F) $591,417 $1,779,826ExpensesGeneral Expenses

Owners' salary 24,000 72,000

Management 45,000 135,000

Employee 180,621 554,969

Legal 6,000 17,600

Advertising and promotion 36,000 36,400Rent 144,000 364,000

Utilities 14,400 39,600

Insurance 4,800 13,800

Bank Charges 3,000 6,600

Printing and Stationary 3,000 8,033

Telephone & Internet 3,000 9,000

Alarm System 600 1,800

Uniforms 3,000 7,967

Guest Supplies 18,000 43,567

Laundry and Drycleaning 2,400 7,200

Cleaning Supplies 6,000 14,400

Subscriptions & Memberships 600 4,800

Training 6,000 13,500Professional Fees 13,848 36,696

Garbage & Related Disposal 3,000 9,000

Credit Card and POS Licencing Fees 17,459 53,187

Licencing Costs 8,729 29,837

(I) TOTAL GENERAL EXPENSES $543,457 $1,478,956Other disbursements

Start up Costs from loan & debt (not incl investors' group

investment) - shown below in loan repayment lines - -

Business Loan - Payments 0 0

(J) TOTAL OTHER EXPENSES $0 $0(K) TOTAL EXPENSES $543,457 $1,478,956

NET PROFIT BEFORE TAX (G-K) $47,961 $300,871

Income Tax ($6,475) ($40,618)

NET PROFIT AFTER TAX $41,486 $260,253

less: Dividends $0 $0

RETAINED EARNINGS $41,486 $260,253

Documents

FAVE - Top Sheets