Bussines Plan Restaurant Manual.pdf

How To Prepare a

Restaurant

Business Plan

Financial Section

Table of Contents

Introduction......................................................................................................................... 1

Projected Sources & Uses of Cash...................................................................................... 2

Capital Budget .................................................................................................................... 3

Land & Building ............................................................................................................. 3

Leasehold Improvements ................................................................................................ 3

Bar/Kitchen Equipment .................................................................................................. 3

Bar/Dining Room Furniture............................................................................................ 3

Professional Services ...................................................................................................... 3

Organizational & Development ...................................................................................... 4

Interior Finishes & Equipment........................................................................................ 4

Exterior Finishes & Equipment ...................................................................................... 4

Pre-Opening Expenses .................................................................................................... 4

Working Capital & Contingency .................................................................................... 4

Sales Projection................................................................................................................... 6

Hourly Labor Cost Projection............................................................................................. 9

Assumptions to the Financial Projections......................................................................... 11

Cost of Sales ................................................................................................................. 11

Management Salaries .................................................................................................... 11

Employee Benefits ........................................................................................................ 12

Direct Operating Expenses ........................................................................................... 12

Music & Entertainment................................................................................................. 13

Marketing...................................................................................................................... 13

Utilities.......................................................................................................................... 13

General & Administrative............................................................................................. 14

Repairs & Maintenance................................................................................................. 14

Occupancy Costs........................................................................................................... 15

Depreciation & Amortization ....................................................................................... 15

Annual Operating Projection - Detail ............................................................................... 16

Annual Operating Projection - Summary ......................................................................... 18

5 Year Operating & Investment Projections ..................................................................... 19

Investment Assumptions............................................................................................... 19

Projected Investment Returns ....................................................................................... 20

Break-Even ....................................................................................................................... 22

Break-Even Worksheet ................................................................................................. 22

Break-Even P&L Summary ......................................................................................... 24

Introduction

For potential investors and lenders, the Financials are often viewed as the heart of the business plan

and this section is likely to receive a lot of attention and even scrutiny from potential lender and

investors. This is where they have the opportunity to evaluate the financial viability of the venture and

– all important – gain a sense of the risk and return on investment potential the venture is likely to

offer.

Some of the main concerns or issues any investor will want to learn from the Financials section

include:

• How much startup capital will the venture require and where it will come from.

• How profitable is the restaurant likely to be.

• What are the minimum sales required to break-even.

• When can the investor(s) expect to get their investment back.

• What kind of ROI is this investment likely to generate.

Even though you may have years of hospitality experience and are an expert at operating a restaurant,

lenders and investors want to know you understand the financial side of the business as well. Showing

a well-conceived, complete and understandable presentation of the financials enhances your credibility

and sends a message to investors and lenders that you are capable of not only running a restaurant but

also possess the knowledge and skills needed to build a successful business organization as well.

Even though you may not have a financial background, you’ll need to understand the numbers on the

various schedules and statements that make up the Financial Projections section and be prepared to

answer questions about the assumptions used to create them. Don’t be concerned or intimidated. As

you’ll soon see, gaining a good grasp of the Financials are basically common sense and we’ve

designed this section to be very straightforward and easy to understand. You, as well as those who

read your business plan, should quickly gain a clear picture of the financial aspects of your venture if

you follow this format.

The schedules and statements included in the financials section are:

• Projected Sources & Uses of Cash

• Capital Budget

• Sales Projection Worksheet

• Hourly Labor Projection Worksheet

• Annual Operating Projection – Detail

• Annual Operating Projection - Summary

• 5 Year Operating Projections

• Break-Even P&L Summary

Download the Financial Model Worksheets:

Download Restaurant Startup & Feasibility Model – Tableservice

Download Restaurant Startup & Feasibility Model – Quick Service

Page 1

Projected Sources & Uses of Cash

The Projected Sources & Uses of Cash shows the total amount of funding required to finance

the startup and opening of the restaurant, where the funds are expect to come from and how

these funds will be spent.

This numbers on this worksheet are generated automatically from information entered on

other supporting worksheets.

Blue Water LLC

Projected Sources & Uses of Cash

Development & Startup Period

SOURCES OF CASH:

Equity Contributions

$ 400,000

Loan Financing

677,675

TOTAL SOURCES OF CASH

$ 1,077,675

USES OF CASH:

Land & Building

Leasehold Improvements

400,000

Bar / Kitchen Equipment

175,000

Bar / Dining Room Furniture

75,000

Professional Services

19,500

Organizational & Development

34,475

Interior Finishes & Equipment

66,500

Exterior Finishes & Equipment

48,500

Pre-Opening Expenses

108,700

Working Capital & Contingency

150,000

TOTAL USES OF CASH

$ 1,077,675

Page 2

Capital Budget

The Capital Budget is a detailed schedule showing all the various expenditures, construction,

startup and pre-opening costs required to get the restaurant open for business. Adequately

identifying and estimating the costs of the project at this stage is absolutely crucial. Many

restaurant experts claim the number one reason for restaurant failure is undercapitalization,

i.e. running out of startup capital before operating activities have a chance to generate an

adequate cash flow to sustain the business. Don’t place your restaurant (and future) in

jeopardy by not having enough capital to complete your project according to plan or start out

in a big financial hole.

Here are the major categories of the Capital Budget (an example of a completed Capital

Budget is included on the page 5).

Land & Building

If the owner/operating entity is planning on owning the land and building (versus leasing a

facility), the actual or estimated cost of the land and building should be included here. Also

include any related acquisition costs such as closing costs, sales commissions, finder’s fees,

inspections, financing costs, etc.

Leasehold Improvements

In a leased facility, enter the estimated cost of constructing the leasehold improvements less

any landlord contributions. Leasehold improvements will include the cost of demolition (if

any), construction of walls, ceilings, electrical, plumbing, HVAC, fixtures, flooring and any

other hard costs associated with the interior and exterior structural and mechanical

components of the building. Also, enter any landlord allowance or contribution for the

construction of the leasehold improvements as this will reduce the eventual cost of the

leasehold improvements.

Bar/Kitchen Equipment

Based on your menu, prepare a detailed list of the bar and kitchen equipment you’ll need.

Obtain actual bids and be sure to consider the cost of delivery, installation and setup. If

possible, reference a detail of the bar and kitchen equipment and place it in the Appendix of

your business plan.

Bar/Dining Room Furniture

If possible, reference a detail of the Bar/Dining Room Furniture and place it in the Appendix.

Obtain actual bids and be sure to consider the cost of delivery, installation and setup.

Professional Services

This section i ncludes architectural, engineering, design, legal, accounting and other

professionals and consultants whose services will be used. Obtain cost estimates from these

professions based on the scope of services you plan on having them perform.

Page 3

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