NewVenture LaVerja Business Plan Sample 2017 · The business will be a sole proprietorship owned by Miguel Castanza. Management Team Dora Castanza will act as general manager of the

Business PlanPrepared By

Miguel CastanzaChef/Owner

La Verja555 Bankwell Avenue

Hillsdale, StateA123-456-6780

[email protected]

Date PreparedJanuary 200A

1Attribution-NonCommercial-NoDerivatives4.0 International (CC BY-NC-ND 4.0)

© 2017 Ewing Marion Kauffman Foundation. All Rights Reserved.

2 3

EXECUTIVE SUMMARY ..............................................................................................................4

MANAGEMENT AND ORGANIZATION PLAN ........................................................................5 Legal Form of Business .............................................................................................................5 Management Team....................................................................................................................5 Board of Directors/Advisory Board .........................................................................................5 Recruitment and Selection of Employees ................................................................................5 Compensation and Ownership.................................................................................................5 Employee Reward and Incentive Plan......................................................................................5 Communication.........................................................................................................................6 Infrastructure.............................................................................................................................6

PRODUCT/SERVICE PLAN .......................................................................................................7 Purpose of Product/Service......................................................................................................7 Features and Benefits ................................................................................................................7 Stage of Development ...............................................................................................................7 Product/Service Limitations.....................................................................................................7 Product/Service Liability ..........................................................................................................7 Production .................................................................................................................................7 Facilities......................................................................................................................................8 Suppliers.....................................................................................................................................8 Related Products/Services and Spin-Offs ................................................................................8 Trademarks, Patents, Copyrights, Licenses, Royalties .............................................................8 Governmental Approvals...........................................................................................................8 MARKETING PLAN .......................................................................................................................9 Industry Profile ........................................................................................................................9 Current Size .........................................................................................................................9 Growth Potential .................................................................................................................9 Industry Trends ...................................................................................................................9 Other Characteristics ..........................................................................................................9 Distribution Channels.........................................................................................................9

Competitive Analysis ..............................................................................................................10 Direct Competition ...........................................................................................................10 Indirect Competition .......................................................................................................10 Future Competition .........................................................................................................10 Competitive Analysis ........................................................................................................10

Market Analysis ......................................................................................................................11 Target Market Profile ........................................................................................................11 Customer Profile ...............................................................................................................12 Future Markets ..................................................................................................................12

Table of Contents



2 3

Market Penetration .................................................................................................................13 Company Image ................................................................................................................13 Customer Service...............................................................................................................13 Location .............................................................................................................................13 Direct-Sales Force..............................................................................................................13 Sales Representatives.........................................................................................................13 Licensing or Distributors ..................................................................................................13 Advertising and Promotion ..............................................................................................13 Publicity .............................................................................................................................14 Telemarketing/Direct Mail...............................................................................................14 Internet ..............................................................................................................................14 Trade Shows.......................................................................................................................14 Market Penetration Effectiveness.....................................................................................14

Pricing ....................................................................................................................................15 Pricing Strategy..................................................................................................................15 Price List ............................................................................................................................15 Pricing Policies ..................................................................................................................15 Break-Even Analysis...........................................................................................................15

FINANCIAL PLAN ......................................................................................................................16 Start-up Costs ...........................................................................................................................16 Sales Projections ......................................................................................................................16 Income Projections..................................................................................................................16 Cash Requirements..................................................................................................................16 Sources of Financing ...............................................................................................................16 Exit Strategy .............................................................................................................................16 Projected Financial Statements Attached - Start-up Funding and Expenditures - Monthly Cash Flow Statement - Year-End Income Statement - Year-End Balance Sheet - Financial Analysis/Ratios

APPENDIX Sales Projections Inventory Projections Operating Expense Projections Depreciation Schedules Capital Budget Projections

Table of Contents



4 5

Venture Description LaVerja is a fresh food casual dining Hispanic restaurant. The interior will include seating for 50 and a carry-out counter. The lunch menu will be simple, made-to-order items. Dinner will vary nightly according to seasonal availability of fresh produce (standard menu items will also be available).

Management and Organization Plan La Verja will be operated as a sole proprietorship and managed by Miguel and Dora Castanza. The Castanzas have a combined 45 years in restaurant management. A solid team of business advisors is in place including attorney Annette Brady, a well-respected leader in the community and an experienced advisor to numerous restaurants.

Marketing Plan Ongoing marketing efforts will include newspaper ads, coupons, and brochures available to hotel patrons. Hillsdale is a small community, and word-of-mouth is a very effective tool—news travels fast. The restaurant’s location is highly visible, and the community has been waiting to see what business will fill the empty space.

Financial Plan The Castanzas will invest start-up funds of $75,000. These monies will cover minimal remodeling, upgrading equipment, new chairs, dishes, and pre-opening marketing. Sales are conservatively projected to reach almost $600,000 by Year 3 of the plan. A line of credit is being arranged at FirstStar Bank in case of cash flow issues. Ideally, the exit plan will be to sell the restaurant to one of the Castanza’s children.

Executive Summary



4 5

Legal Form of Business The business will be a sole proprietorship owned by Miguel Castanza.

Management Team Dora Castanza will act as general manager of the restaurant. After starting her career in the industry as a bartender, Dora entered the management training program of the Holten Restaurant Group. She has 20 years of increasing responsibilities as a restaurant manager and most recently acted as Holten’s opening manager for three new locations.

Miguel Castanza will serve as head chef. Miguel has served as a sous chef and line cook in several restaurants over the last 25 years. For the last five years, Miguel has catered private parties offering well-received Hispanic fare using his own recipes based on his grandmother’s cooking.

Board of Directors/Advisory Board Two local professionals have agreed to serve as informal advisors to the business. Sharon Stein, a business professor at the local community college, and Matt Kalich, a successful downtown retailer, will meet with the Castanzas on a quarterly basis to provide feedback and brainstorming.

Recruitment and Selection of Employees Dora is experienced at hiring restaurant staff. A bartender from her most recent Holten assignment has already been hired. Wait staff, busboys, dishwashers, and cooks will be part-time employees. Recruiting has begun at the local community college and in newspaper ads.

In Year 2 of the business, Maria Castanza will be hired as assistant manager. Ms. Castanza is completing her two-year program in hospitality management at the local community college.

Compensation and OwnershipMiguel will take an owner’s draw as cash flow allows. In Year 3, he projects a draw of $48,000 per year. Dora will be paid a salary equal to Miguel’s draws. An assistant manager will be hired in Year 2 at $20,000. A full-time bartender will also be paid $20,000. Both employees will be able to supplement their income through tips. Wait staff, bus staff, dishwashers, and counter personnel will be paid minimum wage plus tips. Part-time cooks will be paid $7.00 per hour to start. These wages are in line with area restaurants.

Employee Reward and Incentive Plan The incentive for wait staff and bartenders is tips. The better they serve the customer—the better wage they receive. Turnover is high in the industry, and the owners know that with part-time personnel, they will face turnover issues. College students should respond to flexible scheduling and free meals while at work. Profit sharing for the assistant manager will be explored as projections are met.

Management and Organization plan



6 7

Communication Business values will be communicated by example as both Miguel and Dora will work in the restaurant full time. Personnel will be trained extensively by Dora before the opening and on a ”shadow” basis as new people are added. Daily staff meetings will be held before each shift to discuss production issues and explain menu items. Monthly full staff meetings will be held to address employee concerns and operational changes.

Infrastructure The following professionals round out the management team:

Hal Willis—Banker ........................................................................................................Free consultationAnnette Brady—Attorney....................................................................................................... Hourly FeeMorris Hatcher—CPA..........................................................................................................Monthly Fee

Additional management support is available through consultation with representatives from RESTTECH concerning use of their inventory control software. Sales Reps from the major food and beverage suppliers also offer valuable insight and ideas.

Management and Organization plan



6 7

Purpose of Product/Service The purpose of any food service is to provide nutrition while offering the added benefit of tasting good. At La Verja, customers will eat traditional favorites without the guilt of consuming unhealthy and heavy fast food. They will also have the opportunity to sample authentic, adventurous fare and increase their awareness of ethnic flavors.

Features and Benefits The food at La Verja offers several unique benefits to the consumer. It will satisfy customers’ craving for a tasty and fast meal while meeting rising expectations for healthy alternatives. The food will be fresh, made to order, and low fat. Fresh fruits and vegetables increase flavor while lowering calories. LaVerja will offer wraps that are just as easy to eat on the go as fast-food hamburgers with less than half the fat.

Stage of Development La Verja is in the start-up stage of business; however, the Hispanic food industry is in the growth stage. The recipes offered at the restaurant have been developed and tested over the last several years and have been enthusiastically received.

Product/Service Limitations Perishability of inventory is the major product limitation. Care must be taken to order proper amounts and use fresh foods immediately. The format of three to five changing entrees per evening will help mitigate this liability. Menus can be adjusted based on ingredient availability.

Product/Service Liability La Verja faces two major areas of costly liability.

Food poisoning is a real threat. The resulting medical costs and possible punitive damages can significantly affect the bottom line. Worse yet is the bad word of mouth resulting from such an incident. Safe food handling and employee sanitation must be constantly monitored. Proper training is essential.

Liquor liability laws are another area of concern. Beverage purveyors are being held responsible for over-serving patrons and for the well being of third parties an inebriated patron might injure. Again, proper training and controlled pouring will be necessary.

Along with proper training and systems, adequate insurance will be purchased.

Production In keeping with its promotions tied to fresh food, most LaVerja menu items will be prepared in house. Simple items such as tortillas and taco shells will be purchased from a major produce supplier.

Product / Service plan



8 9

Facilities An existing restaurant-equipped building with adequate parking is being leased. Few modifications are necessary and most are cosmetic in nature. The building is 1,200 square feet with a dining area of 700 square feet—enough to comfortably seat 50 patrons.

Suppliers All the major food distributors in the region make regular deliveries to local grocers and restaurants. Negotiations are well under way with GROCO to deliver staples and seasonal produce. Specialty items will be purchased from National Foods at least twice a week. Numerous other suppliers can be used if delivery issues arise. Local farmers’ markets will also be a source for fresh ingredients.

Related Products/Services and Spin-offs Miguel’s proprietary salsas will be available for sale in the restaurant. In time, production of the salsas could be outsourced and distributed through specialty grocers. As the general public becomes more aware of specialty dishes, new menu items can be easily added.

Trademarks, Patents, Copyrights, Licenses, Royalties Recipes are copyrighted. The logo will be trademarked and registered to allow for the possibility of future licensing or franchising opportunities.

Governmental Approvals A liquor license is already attached to the property and will transfer with the lease. The city will issue a business license (zoning is in place). The Health Department permit is in place and will be contingent on periodic inspections.

Product / Service plan



8 9

Industry Profile

Current Size The restaurant industry is projected to hit sales of $40.1 billion in 200A. Over 12 million employees work in the restaurant industry making it the largest employer in our economy other than the government. The restaurant-industry share of the food dollar is estimated at 46.4 percent (National Restaurant Association).

State A counts 6,674 establishments with revenues totaling close to $3 billion and projects an annual growth rate of 4.2 percent (National Restaurant Association).

Growth Potential The restaurant industry has continued sustainable growth even during recent times of economic downturns. In the last three years the industry added 373,000 jobs. Overall sales are expected to grow by 4.4 percent over the next year. An overall economic impact of over $1.2 trillion is forecast this year when related industries such as agriculture and manufacturing are factored in (National Restaurant Association).

Industry Trends The Hispanic market is the fastest growing segment of the food service industry. Demand for Mexican frozen foods grew by over 20 percent in one year this past decade. Hispanics spend close to 27 percent more on fast food than other segments of the population, and forecasts call for that rate to grow by almost 8 percent over the next ten years (El Restaurante Mexicano).

The Hispanic culture is closely attuned to food and the rest of the population is quickly becoming more sophisticated in their appreciation of Hispanic flavors. The Hispanic population is growing around the country and already comprises almost 30 percent of Hillsdale, State A (Hillsdale, State A, economic census).

Ingredients that used to be hard to find (or even unheard of) are now readily accessible through major food distributors and specialty grocers. Produce previously thought of as “exotic” is becoming well known and commonplace, and lower prices are reflecting the change.

Other Characteristics Restaurants flourish in all regions of the country and enjoy steady sales year round. Average profits range from 4 percent to 10 percent depending on the type of establishment and form of ownership (BizStats.com, National Restaurant Association).

Distribution Channels Distribution Channels in the industry are well established. Customers frequent restaurants for sit-down service and are now accustomed to the availability of carry out from neighborhood restaurants.

Marketing plan



10 11

Competitive Analysis

Direct Competition Hillsdale boasts close to sixty restaurants including fast food establishments. The town enjoys a variety of ethnic choices including Chinese, Italian, Mexican, and American. Within this mix, five restaurants offer “Hispanic” fare. Two of those are fast food, drive-through operations and three are traditional Mexican restaurants.

Indirect Competition Consumers have many choices when it comes to meal selection. Grocery stores offer a variety of prepared foods, including traditional Mexican fare, such as burritos. Fresh ingredients to satisfy ethnic palates are also becoming more readily available making home cooking a less difficult and more tasty option.

Future Competition As the Hispanic population continues to grow and the demand for authentic ethnic food grows among all segments of the population, the expectation is that more Hispanic (and other ethnic) restaurants will open in viable locations.

Competitive Analysis La Verja will compete with the freshest ingredients and proprietary recipes and sauces. A simple menu with standard items can be easily expanded and adjusted as diner preference is established. The evening meals will be posted on a “blackboard” and will take advantage of trends and available fresh produce. Special requests will be accommodated based on in-stock ingredients.

Other Hispanic choices in the area don’t offer any of the newer style offerings being seen in bigger cities. The fast food choices offer what is expected. La Verja will be able to offer items such as tacos and burritos at competitive prices with far better flavor and healthier ingredients.

Hillsdale’s three dine-in Hispanic restaurants include only one that is truly family friendly. La Verja will offer entrees in a wide price range to satisfy both children wanting a traditional taco and adults looking for a more enticing meal.

Marketing plan



10 11

Competitive Matrix

Restaurant Price Production/Quality

Unique Features

DistributionSystem

Marketing/Advertising

Strengths/Weaknesses

Market Share

La Verja $ – $$$

Fresh to order/High

Variety — Changing menuCarry-out

Eat-inCarry-out

HotelSpanish language

Location/Start-up

??

Competitor A $ Frozen/Low

Fast Drive-thru Franchise Fast/Poor Food

25%

Competitor B $ Frozen/Low

Fast Drive-thru Franchise Fast/Poor Food

23%

Competitor C $$ Pre-prepared/Medium

Bar — Live music Eat-in Entertainment listings

Established clientele/Loud — not for families

27%

Competitor D $$ Some fresh/Medium

Buffet Lunch Eat-In Coupons Price for quantity/Location

15%

Competitor E $$$ Fresh to order/Medium to High

Special OccasionDestination

Eat-in Word of Mouth Décor/Intimidating

10%

Market Analysis

Target Market Profile Restaurants are frequented by most members of any community. Hispanic flavors are well known and accepted by all segments of the population. The Hispanic diner knows what traditional Hispanic meals can taste like and appreciates an authentic approach.

Hillsdale is the centerpiece of an agricultural community with a population of over 40,000. Over 30 percent of residents are Hispanic with the rest predominantly Caucasian. The area includes a community college with almost 5,000 students, 2,000 of them traditional college age (Hillsdale Chamber of Commerce). The median age is 27 years old, so this community is full of young, vibrant families.

Marketing plan



12 13

Hillsdale supports many professionals. Employment opportunities are plentiful with three major corporate employers, a substantial regional hospital, a large school district, several area community colleges, and county and city governments.

Hillsdale also gets its share of tourists and business travelers. It provides close to 1,000 hotel rooms in town and 500 more rooms in neighboring communities. Regional governmental and business conferences take place regularly, and the city hosts several well-attended summer festivals.

Customer Profile La Verja’s customer profile includes a cross-section of the residents of Hillsdale. Customers can be classified in several major categories.

Weekday lunches—Working professionals and students ranging in age from 16 to 70. Carryout is expected to account for over half of the lunch business as word of mouth spreads. The restaurant is close to the local hospital and several major employers.

Weekday dinners—Carryout business will continue as working couples look for variety in their take-home options. Family business should dominate dine-in clientele, especially among the Hispanic population looking for authentic flavors and Spanish-speaking staff.

Weekend business—Friday and Saturday will be a combination of students looking for good food at a reasonable price and families looking for a meal out where children are welcome and happy.

Other—Tourists and business travelers will supplement the business. Tourists tend to be families attending festivals or the zoo while the business traveler is single and looking for good flavor in a nice atmosphere.

Future Markets Some products may be offered in local grocery stores as brand awareness builds. The Castanzas have been catering parties for the Hispanic market over the last five years. Once the restaurant is well established, that market may be re-explored.

Marketing plan



12 13

Market Penetration

Company Image La Verja will offer an authentic Hispanic atmosphere where people of all ages are welcome. The outside of the building is well maintained and attractive with ample parking. The décor will be subtle and comfortable and Latino music will be played in the background.

Customer Service Service will be efficient and friendly. The staff will be conversant in both Spanish and English. Staff will be well trained and able to discuss the menu choices and alternatives with diners.

Location The restaurant is located at 1345 Bankwell Avenue. Bankwell is a major artery through town. The local hospital and several major businesses are within three blocks. The two neighboring residential areas are predominantly Hispanic with median household incomes of $37,752 (Hillsdale Chamber of Commerce).

Direct-Sales Force The sales force will consist of the restaurant employees.

Sales Representatives Sales representative will not be needed at this time. In the future, if grocery store distribution is viable for proprietary recipes, this option may be explored.

Licensing or Distributors For the three years this plan encompasses, no licensing or distributorship arrangements are contemplated.

Advertising and Promotion Word of mouth will be the major promotional tool as the business grows. The Castanzas are well-known in the Hispanic community and people are already asking when the doors will be open.

The location will also serve as a promotional tool. It is highly visible on a busy thouroughfare and attractive signage is being designed.

Brochures are being designed explaining the concept and menu. These brochures will be distributed to all the hotels in the area as well as area employers and the Chamber of Commerce. Coupons will be issued to students at the local community college through a cooperative agreement with a local ice-cream vendor close to the campus.

Newspaper advertising will be used prior to opening and small ads will be placed in the monthly entertainment special highlighting featured menu options.

Marketing plan



14 15

Publicity LaVerja will host a pre-opening party at the restaurant for invited guests. The guest list will include Hispanic community leaders and members of the Castanzas’ church. It will be held in the restaurant and will utilize the parking lot for a “fair” atmosphere. Permits have already been granted by the city and parking is being borrowed from a nearby church. The local newspaper will cover the party and write an article for both the English and Spanish versions.

Telemarketing/Direct mail Direct mail is not being considered at this time.

Internet A Web site is under development. It will display the menu and give basic location and hours information. As the carry-out business builds, corporate clients may want to be able to order by e-mail. This option will be explored after the first year of operations.

Trade Shows Trade shows may be attended in the future if the sales of proprietary sauces are successful in the local market.

Market Penetration Effectiveness Miguel and Dora will handle marketing activities. Arrangements have already been made with local hotels for inclusion in their “to do” packets. Coupons for college students will be distributed in the school “commons” area.

Marketing plan



14 15

Pricing

Pricing Strategy Prices will be in the low range for lunches in order to stay competitive with fast food and diner options in town. Dinner prices will be offered at a wide range in order to offer value for families yet choices for adults looking for interesting, flavorful fare.

Price List The average ticket price for carry-out will be $6.50. This price is a little higher than a take-out Mexican meal but still offers good value. In-house dining for lunch will average $8.00 (including beverage). Dinner prices will vary from $8.00 to $15.00. Average ticket prices will be aided by the sales of alcohol to include beer, wine, and liquor with specialty drinks like Margueritas. Lower-priced lunch items will also be available at night to satisfy the need of families accompanied by children and trying to stay in a reasonable meal budget.

Pricing Policies No volume price discounts will be offered. In the future, catering prices will be based on a per-head basis.

Break-Even Analysis Sales of approximately $35,000 per month will cover basic operating expenses. La Verja should be at break-even in June of Year 1.

Marketing plan



16

Start-up Costs Start up costs will be around $53,000. This includes minimal remodeling, upgrading equipment, new chairs, dishes, pre-opening marketing as well as legal fees and deposits and licenses.

Sales Projections First year sales are projected at $280,000. Sales are conservatively projected to reach almost $600,000 by Year 3 of the plan. Projections are based industry standards for table turns and the average ticket price. Carry-out sales should easily exceed projections as the kitchen will have excess capacity and neighboring fast-food places are doing a lot of business. These projections put La Verjia at sales in the $500.00 per square foot range, with a table turn average of 1.1—a reasonable estimate for the industry. In fact, with the small space requirement for carry-out service, it will be possible to surpass these projections.

Income Projections Income is projected at $20,000 the first year. This is not really profit, as Miguel and Dora will not be taking market rate wages and draws yet. Years 2 and 3 show profits of around $90,000 and $80,000 (profits go down in year three as Dora’s wages go up). Miguel’s draw and taxes will come out of the net profit figure.

Cash Requirements The financial projections show $75,000 will cover start-up and growth for the first three years. If necessary, Miguel and Dora are prepared to take smaller wages or forego wages altogether for a period of time.

Sources of Financing The Castanzas will invest start-up funds of $75,000. A $50,000 line of credit is being arranged at FirstStar Bank in case of cash flow issues.

Exit Strategy Ideally, the exit plan will be to sell the restaurant to one of the Castana’s children.

Projected Financial Statements - Start-up Funding & Expenditures - Monthly Cash Flow Statement - Year-End Income Statement - Year-End Balance Sheet - Financial Analysis/Ratios

Financial Plan



16

Appendix



START-UP FUNDING & EXPENDITURESLa Verja

Start-Up Cash Equity Investments 75,000 Loan Proceeds - Real-Estate Loans - Total Start-Up Cash 75,000

Start-Up ExpendituresSecurity Deposits Rent (last month's) 1,000 Telephone Deposit 150 Utilities Deposit 200 Other Deposits - Total Security Deposits 1,350

Start-Up Expenses Accounting Fees 500 Activation Fee - Corporate Fees & Taxes 150 Federal Tax ID - Fictitious Name Costs - Insurance 500 Legal & Consulting Fees 1,000 Meals & Entertainment - Office Supplies 750 Payroll Expenses (training/setup) Salaries & Wages 1,000 Payroll Taxes - Benefits - Pre-opening advertising 1,500 Printing (cards, stationery, brochures) 2,000 Sales Tax Permit 100 Other Start-Up Expenses - Total Start-Up Expenses 7,500

Other Costs Opening Inventory -

Capital Expenditures Computer Equipment 4,000 Equipment/Machinery 15,000 Furniture & Fixtures 15,000 Vehicles - Leasehold Improvements 10,000 Buildings - Land - Total Start-Up Capital Expenditures 44,000

Total Start-Up Expenditures 52,850



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ent

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rave

l-

-

-

-

-

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Util

ities

707

79

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797

79

7

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593

885

88

5

885

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5

11,4

18

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icle

-

-

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Mus

ic25

0

250

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0

250

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0

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0

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25

0

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0

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3,

000

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ipm

ent L

ease

350

35

0

350

35

0

350

35

0

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35

0

350

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0

350

35

0

4,20

0

O

ther

-

-

-

-

-

-

-

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-

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P

aid

on A

ccou

nt-

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-

-

-

-

-

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N

on-O

pera

ting

Cos

ts

Cap

ital P

urch

ases

-

-

-

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-

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-

-

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-

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E

stim

ated

Inc

ome

Tax

Pay

men

ts-

-

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1,35

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4

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I

nter

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aym

ents

-

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oan

Prin

cipa

l Pay

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ts-

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Ow

ner's

Dra

w4,

000

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4,

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000

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0

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0

4,

000

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000

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ther

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h O

ut

-

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-

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-

Tot

al C

ash

Out

39,3

69

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,672

42,6

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42

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thly

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ash

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(836

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55)

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42

22

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(14,

002)

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(3

,292

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inni

ng C

ash

Bal

ance

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20

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E

ndin

g C

ash

Bal

ance

41,0

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83

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,510

56,8

57

53

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53,5

65



200A 200B 200CNet Sales (Less Returns & Allowances) 279,955 554,255 570,883 Cost of Goods Sold 111,982 210,617 216,935 Gross Income $ 167,973 $ 343,638 $ 353,947

Operating Expenses Advertising 3,400 2,321 2,854 Bad Debt Expense - - - Bank Charges - - - Depreciation & Amortization 7,619 7,619 7,619 Dues & Subscriptions - - - Insurance 4,139 7,205 7,421 Licenses & Fees 1,750 2,000 2,000 Marketing & Promotion 5,800 5,543 5,709 Meals & Entertainment - - - Miscellaneous - - - Office Expense - - - Office Supplies 2,100 3,000 3,600 Outside Services - - - Payroll Expenses Salaries & Wages 77,500 152,400 170,400 Payroll Taxes 5,738 11,430 12,780 Benefits - - - Professional Fees 3,300 2,400 2,400 Property Taxes 3,359 6,651 - Rent 11,923 22,170 28,544 Repairs & Maintenance 4,729 9,977 10,276 Shipping & Delivery - - - Telephone 1,350 1,800 1,800 Training & Development - - - Travel - - - Utilities 5,599 11,085 11,418 Vehicle - - - Music 2,250 3,000 3,000 Equipment Lease 4,200 4,200 4,200 Other - - - Total Operating Expenses $ 144,756 $ 252,800 $ 274,021

Operating Income $ 23,217 $ 90,838 $ 79,926

Interest Expense - - - Other Income (Interest, Royalties, etc.) - - -

Income Before Taxes $ 23,217 $ 90,838 $ 79,926

Income Taxes (If C corporation) - - -

Net Income $ 23,217 $ 90,838 $ 79,926

La Verja Year-End

Income Statement (Projected)



200A 200B 200C

AssetsCurrent Assets

Cash & Equivalents 27,662 45,105 53,565 Net Accounts Receivable - - - Inventory 29,442 46,492 55,673 Security Deposits 1,350 1,350 1,350 Other Current Assets - - -

Total Current Assets $ 58,454 $ 92,946 $ 110,588

Fixed AssetsProperty, Plant & Equipment 44,000 44,000 44,000 Less: Accumulated Depreciation (7,619) (15,238) (22,857) Other Non-Current Assets - - -

Total Non-Current Assets $ 36,381 $ 28,762 $ 21,143

Total Assets $ 94,835 $ 121,708 $ 131,731

LiabilitiesCurrent Liabilities Accounts Payable 11,583 10,870 12,944

Line of Credit - - - Other Current Liabilities - - -

Total Current Liabilities $ 11,583 $ 10,870 $ 12,944

Long-term LiabilitiesLoans - - - Mortgages - - - Other Non-Current Liabilities - - -

Total Non-Current Liabilities $ - $ - $ -

Total Liabilities $ 11,583 $ 10,870 $ 12,944

EquityEquity Investments 75,000 75,000 75,000 Retained Earnings 23,217 99,090 115,764 Less: Owner's & Investor's Draws (14,965) (63,251) (71,978) Total Equity $ 83,252 $ 110,838 $ 118,786

Total Liabilities and Equity $ 94,835 $ 121,708 $ 131,731

La Verja

Balance Sheet (Projected)Year-End



200A 200B 200C

Profitability Ratios

Gross Margin 60.00% 62.00% 62.00%

Operating Margin 8.29% 16.39% 14.00%

Net Margin 8.29% 16.39% 14.00%

Return on Assets (ROA) 24.48% 74.64% 60.67%

Return on Equity (ROE) 27.89% 81.96% 67.29%

Liquidity Ratios

Current Ratio 5.05 8.55 8.54

Quick Ratio 2.50 4.27 4.24

Risk Ratios

Debt Ratio 0.12 0.09 0.10

Debt to Equity 0.14 0.10 0.11

Efficiency Ratios

Inventory Turnover 3.80 4.53 3.90

Days Sales Outstanding (DSO) 0.00 0.00 0.00

Investment Turnover Ratio 2.95 4.55 4.33

Gross Income

Total Current Liabilities

Current Assets - Inventory

La VerjaFinancial Ratios

Net SalesOperating Income

Total AssetsNet Income

Accounts Receivable

Net Sales

Total Assets

InventoryCost of Goods Sold

Total LiabilitiesTotal Equity

Net Sales/365

Net Sales

Total Assets

Net IncomeNet Sales

Total Liabilities

Total EquityNet Income

Total Current Assets

Current Liabilities



16 17

Appendix



SAL

ES

PR

OJE

CT

ION

SL

a V

erja

Yea

r 1

JAN

FE

BM

AR

AP

RM

AY

JUN

JUL

AU

GSE

PO

CT

NO

VD

EC

TO

TA

LSa

les

Bud

get

Food

-

-

-

11,0

50

11

,050

15,4

70

22

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00

17

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80

17

,680

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80

15

2,49

0

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erag

e-

-

-

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950

1,

950

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730

3,

900

3,

900

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120

3,

120

3,

120

3,

120

26

,910

Car

ryou

t-

-

-

4,

225

4,

225

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225

16

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00

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0,55

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Prod

uct/S

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D-

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Pr

oduc

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F-

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ss S

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17,2

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Net

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-

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955

O

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ome

-

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-

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Tot

al I

ncom

e-

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279,

955

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t M

anag

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(ca

sh)

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end

App

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x

SAL

ES

PR

OJE

CT

ION

SL

a V

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NO

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EC

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les

Bud

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50

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225

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ory

F-

-

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-

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-

-

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-

-

Pr

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s: R

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Net

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34

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955

O

ther

Inc

ome

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-

-

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Tot

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are

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day

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year

end

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endi

x



SAL

ES

PR

OJE

CT

ION

SL

a V

erja

Yea

r 1

JAN

FE

BM

AR

AP

RM

AY

JUN

JUL

AU

GSE

PO

CT

NO

VD

EC

TO

TA

LSa

les

Bud

get

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-

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11,0

50

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225

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225

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Tot

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279,

955

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ervi

ce C

ateg

ory

DPr

oduc

t/Ser

vice

Cat

egor

y E

Prod

uct/S

ervi

ce C

ateg

ory

FPr

oduc

t/Ser

vice

Cat

egor

y G

Les

s: R

etur

ns &

Allo

wan

ces

Oth

er I

ncom

e S

ales

(ca

sh)

Sal

es (

cred

it) B

ad D

ebt E

xpen

se -

Acc

rual

Rec

eive

d on

Acc

ount

Bad

Deb

t - C

ash

Flow


aver

age

ticke

t pri

ce o

f $1

0 (8

5% in

foo

d); c

apac

ity o

f 50

per

mea

l, pr

ojec

t bui

ldin

g to

40

per

mea

l by

year

-end

; Ju

ly &

Aug

are

fes

tival

mon

ths


aver

age

ticke

t pri

ce o

f $1

0 (1

5% in

bev

erag

e)av

erag

e tic

kede

t pri

ce o

f $6

.50;

bui

ld to

80

carr

yout

mea

ls a

day

by

year

end

App

endi

x

SAL

ES

PR

OJE

CT

ION

SL

a V

erja

Yea

r 2

JAN

FE

BM

AR

AP

RM

AY

JUN

JUL

AU

GSE

PO

CT

NO

VD

EC

TO

TA

LSa

les

Bud

get

Food

17,6

80

22

,100

22,1

00

22

,100

22,1

00

22

,100

44,2

00

44

,200

24,3

10

24

,310

24,3

10

24

,310

313,

820

B

ever

age

3,12

0

3,90

0

3,90

0

3,90

0

3,90

0

3,90

0

7,80

0

7,80

0

4,29

0

4,29

0

4,29

0

4,29

0

55,3

80

C

arry

out

13,5

20

12

,675

12,6

75

12

,675

12,6

75

12

,675

25,3

50

25

,350

14,3

65

14

,365

14,3

65

14

,365

185,

055

Pr

oduc

t/Ser

vice

Cat

egor

y D

-

-

-

-

-

-

-

-

-

-

-

-

-

Prod

uct/S

ervi

ce C

ateg

ory

E-

-

-

-

-

-

-

-

-

-

-

-

-

Pr

oduc

t/Ser

vice

Cat

egor

y F

-

-

-

-

-

-

-

-

-

-

-

-

-

Prod

uct/S

ervi

ce C

ateg

ory

G-

-

-

-

-

-

-

-

-

-

-

-

-

G

ross

Sal

es34

,320

38,6

75

38

,675

38,6

75

38

,675

38,6

75

77

,350

77,3

50

42

,965

42,9

65

42

,965

42,9

65

55

4,25

5

Les

s: R

etur

ns &

Allo

wan

ces

-

-

-

-

-

-

-

-

-

-

-

-

-

Net

Sal

es34

,320

38,6

75

38

,675

38,6

75

38

,675

38,6

75

77

,350

77,3

50

42

,965

42,9

65

42

,965

42,9

65

55

4,25

5

Oth

er I

ncom

e-

-

-

-

-

-

-

-

-

-

-

-

-

T

otal

Inc

ome

34,3

20

38

,675

38,6

75

38

,675

38,6

75

38

,675

77,3

50

77

,350

42,9

65

42

,965

42,9

65

42

,965

554,

255

C

redi

t M

anag

emen

t S

ales

(ca

sh)

34,3

20

38

,675

38,6

75

38

,675

38,6

75

38

,675

77,3

50

77

,350

42,9

65

42

,965

42,9

65

42

,965

554,

255

S

ales

(cr

edit)

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad

Deb

t Exp

ense

- A

ccru

al-

-

-

-

-

-

-

-

-

-

-

-

-

R

ecei

ved

on A

ccou

nt-

-

-

-

-

-

-

-

-

-

-

-

-

B

ad D

ebt -

Cas

h Fl

ow-

-

-

-

-

-

-

-

-

-

-

-

-

Yea

r 2

Ass

umpt

ions

Food

Bev

erag

eC

arry

out

Prod

uct/S

ervi

ce C

ateg

ory

DPr

oduc

t/Ser

vice

Cat

egor

y E

Prod

uct/S

ervi

ce C

ateg

ory

FPr

oduc

t/Ser

vice

Cat

egor

y G

Les

s: R

etur

ns &

Allo

wan

ces

Oth

er I

ncom

e S

ales

(ca

sh)

Sal

es (

cred

it) B

ad D

ebt E

xpen

se -

Acc

rual

Rec

eive

d on

Acc

ount

Bad

Deb

t - C

ash

Flow


aver

age

ticke

t pri

ce o

f $1

0 (8

5% in

foo

d);

cap

acity

of

50 p

er m

eal,

proj

ect b

uild

ing

to 1

.1 tu

rns

by y

ear

-end

(in

dust

ry a

vg);

Ju

ly &

Aug

are

fes

tival

mon

ths

aver

age

ticke

t pri

ce o

f $1

0 (1

5% in

bev

erag

e)av

erag

e tic

kede

t pri

ce o

f $6

.50;

b

uild

to 8

5 ca

rryo

ut m

eals

a d

ay b

y ye

ar e

nd


App

endi

x

SAL

ES

PR

OJE

CT

ION

SL

a V

erja

Yea

r 2

JAN

FE

BM

AR

AP

RM

AY

JUN

JUL

AU

GSE

PO

CT

NO

VD

EC

TO

TA

LSa

les

Bud

get

Food

17,6

80

22

,100

22,1

00

22

,100

22,1

00

22

,100

44,2

00

44

,200

24,3

10

24

,310

24,3

10

24

,310

313,

820

B

ever

age

3,12

0

3,90

0

3,90

0

3,90

0

3,90

0

3,90

0

7,80

0

7,80

0

4,29

0

4,29

0

4,29

0

4,29

0

55,3

80

C

arry

out

13,5

20

12

,675

12,6

75

12

,675

12,6

75

12

,675

25,3

50

25

,350

14,3

65

14

,365

14,3

65

14

,365

185,

055

Pr

oduc

t/Ser

vice

Cat

egor

y D

-

-

-

-

-

-

-

-

-

-

-

-

-

Prod

uct/S

ervi

ce C

ateg

ory

E-

-

-

-

-

-

-

-

-

-

-

-

-

Pr

oduc

t/Ser

vice

Cat

egor

y F

-

-

-

-

-

-

-

-

-

-

-

-

-

Prod

uct/S

ervi

ce C

ateg

ory

G-

-

-

-

-

-

-

-

-

-

-

-

-

G

ross

Sal

es34

,320

38,6

75

38

,675

38,6

75

38

,675

38,6

75

77

,350

77,3

50

42

,965

42,9

65

42

,965

42,9

65

55

4,25

5

Les

s: R

etur

ns &

Allo

wan

ces

-

-

-

-

-

-

-

-

-

-

-

-

-

Net

Sal

es34

,320

38,6

75

38

,675

38,6

75

38

,675

38,6

75

77

,350

77,3

50

42

,965

42,9

65

42

,965

42,9

65

55

4,25

5

Oth

er I

ncom

e-

-

-

-

-

-

-

-

-

-

-

-

-

T

otal

Inc

ome

34,3

20

38

,675

38,6

75

38

,675

38,6

75

38

,675

77,3

50

77

,350

42,9

65

42

,965

42,9

65

42

,965

554,

255

C

redi

t M

anag

emen

t S

ales

(ca

sh)

34,3

20

38

,675

38,6

75

38

,675

38,6

75

38

,675

77,3

50

77

,350

42,9

65

42

,965

42,9

65

42

,965

554,

255

S

ales

(cr

edit)

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad

Deb

t Exp

ense

- A

ccru

al-

-

-

-

-

-

-

-

-

-

-

-

-

R

ecei

ved

on A

ccou

nt-

-

-

-

-

-

-

-

-

-

-

-

-

B

ad D

ebt -

Cas

h Fl

ow-

-

-

-

-

-

-

-

-

-

-

-

-

Yea

r 2

Ass

umpt

ions

Food

Bev

erag

eC

arry

out

Prod

uct/S

ervi

ce C

ateg

ory

DPr

oduc

t/Ser

vice

Cat

egor

y E

Prod

uct/S

ervi

ce C

ateg

ory

FPr

oduc

t/Ser

vice

Cat

egor

y G

Les

s: R

etur

ns &

Allo

wan

ces

Oth

er I

ncom

e S

ales

(ca

sh)

Sal

es (

cred

it) B

ad D

ebt E

xpen

se -

Acc

rual

Rec

eive

d on

Acc

ount

Bad

Deb

t - C

ash

Flow


aver

age

ticke

t pri

ce o

f $1

0 (8

5% in

foo

d);

cap

acity

of

50 p

er m

eal,

proj

ect b

uild

ing

to 1

.1 tu

rns

by y

ear

-end

(in

dust

ry a

vg);

Ju

ly &

Aug

are

fes

tival

mon

ths

aver

age

ticke

t pri

ce o

f $1

0 (1

5% in

bev

erag

e)av

erag

e tic

kede

t pri

ce o

f $6

.50;

b

uild

to 8

5 ca

rryo

ut m

eals

a d

ay b

y ye

ar e

nd


App

endi

x



SAL

ES

PR

OJE

CT

ION

SL

a V

erja

Yea

r 3

JAN

FE

BM

AR

AP

RM

AY

JUN

JUL

AU

GSE

PO

CT

NO

VD

EC

TO

TA

LSa

les

Bud

get

Food

18,2

10

22

,763

22,7

63

22

,763

22,7

63

22

,763

45,5

26

45

,526

25,0

39

25

,039

25,0

39

25

,039

323,

235

B

ever

age

3,21

4

4,01

7

4,01

7

4,01

7

4,01

7

4,01

7

8,03

4

8,03

4

4,41

9

4,41

9

4,41

9

4,41

9

57,0

41

C

arry

out

13,9

26

13

,055

13,0

55

13

,055

13,0

55

13

,055

26,1

11

26

,111

14,7

96

14

,796

14,7

96

14

,796

190,

607

Pr

oduc

t/Ser

vice

Cat

egor

y D

-

-

-

-

-

-

-

-

-

-

-

-

-

Prod

uct/S

ervi

ce C

ateg

ory

E-

-

-

-

-

-

-

-

-

-

-

-

-

Pr

oduc

t/Ser

vice

Cat

egor

y F

-

-

-

-

-

-

-

-

-

-

-

-

-

Prod

uct/S

ervi

ce C

ateg

ory

G-

-

-

-

-

-

-

-

-

-

-

-

-

G

ross

Sal

es35

,350

39,8

35

39

,835

39,8

35

39

,835

39,8

35

79

,671

79,6

71

44

,254

44,2

54

44

,254

44,2

54

57

0,88

3

Les

s: R

etur

ns &

Allo

wan

ces

-

-

-

-

-

-

-

-

-

-

-

-

-

Net

Sal

es35

,350

39,8

35

39

,835

39,8

35

39

,835

39,8

35

79

,671

79,6

71

44

,254

44,2

54

44

,254

44,2

54

57

0,88

3

Oth

er I

ncom

e-

-

-

-

-

-

-

-

-

-

-

-

-

T

otal

Inc

ome

35,3

50

39

,835

39,8

35

39

,835

39,8

35

39

,835

79,6

71

79

,671

44,2

54

44

,254

44,2

54

44

,254

570,

883

C

redi

t M

anag

emen

t S

ales

(ca

sh)

35,3

50

39

,835

39,8

35

39

,835

39,8

35

39

,835

79,6

71

79

,671

44,2

54

44

,254

44,2

54

44

,254

570,

883

S

ales

(cr

edit)

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad

Deb

t Exp

ense

- A

ccru

al-

-

-

-

-

-

-

-

-

-

-

-

-

R

ecei

ved

on A

ccou

nt-

-

-

-

-

-

-

-

-

-

-

-

-

B

ad D

ebt -

Cas

h Fl

ow-

-

-

-

-

-

-

-

-

-

-

-

-

Yea

r 3

Ass

umpt

ions

Food

Bev

erag

eC

arry

out

Prod

uct/S

ervi

ce C

ateg

ory

DPr

oduc

t/Ser

vice

Cat

egor

y E

Prod

uct/S

ervi

ce C

ateg

ory

FPr

oduc

t/Ser

vice

Cat

egor

y G

Les

s: R

etur

ns &

Allo

wan

ces

Oth

er I

ncom

e S

ales

(ca

sh)

Sal

es (

cred

it) B

ad D

ebt E

xpen

se -

Acc

rual

Rec

eive

d on

Acc

ount

Bad

Deb

t - C

ash

Flow


indu

stry

ave

rage

turn

s (1

.1)

rai

se p

rice

s by

3%

rais

e pr

ices

by

3% in

dust

ry a

vera

ge tu

rns

(1.1

) r

aise

pri

ces

by 3

%


App

endi

x

SAL

ES

PR

OJE

CT

ION

SL

a V

erja

Yea

r 3

JAN

FE

BM

AR

AP

RM

AY

JUN

JUL

AU

GSE

PO

CT

NO

VD

EC

TO

TA

LSa

les

Bud

get

Food

18,2

10

22

,763

22,7

63

22

,763

22,7

63

22

,763

45,5

26

45

,526

25,0

39

25

,039

25,0

39

25

,039

323,

235

B

ever

age

3,21

4

4,01

7

4,01

7

4,01

7

4,01

7

4,01

7

8,03

4

8,03

4

4,41

9

4,41

9

4,41

9

4,41

9

57,0

41

C

arry

out

13,9

26

13

,055

13,0

55

13

,055

13,0

55

13

,055

26,1

11

26

,111

14,7

96

14

,796

14,7

96

14

,796

190,

607

Pr

oduc

t/Ser

vice

Cat

egor

y D

-

-

-

-

-

-

-

-

-

-

-

-

-

Prod

uct/S

ervi

ce C

ateg

ory

E-

-

-

-

-

-

-

-

-

-

-

-

-

Pr

oduc

t/Ser

vice

Cat

egor

y F

-

-

-

-

-

-

-

-

-

-

-

-

-

Prod

uct/S

ervi

ce C

ateg

ory

G-

-

-

-

-

-

-

-

-

-

-

-

-

G

ross

Sal

es35

,350

39,8

35

39

,835

39,8

35

39

,835

39,8

35

79

,671

79,6

71

44

,254

44,2

54

44

,254

44,2

54

57

0,88

3

Les

s: R

etur

ns &

Allo

wan

ces

-

-

-

-

-

-

-

-

-

-

-

-

-

Net

Sal

es35

,350

39,8

35

39

,835

39,8

35

39

,835

39,8

35

79

,671

79,6

71

44

,254

44,2

54

44

,254

44,2

54

57

0,88

3

Oth

er I

ncom

e-

-

-

-

-

-

-

-

-

-

-

-

-

T

otal

Inc

ome

35,3

50

39

,835

39,8

35

39

,835

39,8

35

39

,835

79,6

71

79

,671

44,2

54

44

,254

44,2

54

44

,254

570,

883

C

redi

t M

anag

emen

t S

ales

(ca

sh)

35,3

50

39

,835

39,8

35

39

,835

39,8

35

39

,835

79,6

71

79

,671

44,2

54

44

,254

44,2

54

44

,254

570,

883

S

ales

(cr

edit)

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad

Deb

t Exp

ense

- A

ccru

al-

-

-

-

-

-

-

-

-

-

-

-

-

R

ecei

ved

on A

ccou

nt-

-

-

-

-

-

-

-

-

-

-

-

-

B

ad D

ebt -

Cas

h Fl

ow-

-

-

-

-

-

-

-

-

-

-

-

-

Yea

r 3

Ass

umpt

ions

Food

Bev

erag

eC

arry

out

Prod

uct/S

ervi

ce C

ateg

ory

DPr

oduc

t/Ser

vice

Cat

egor

y E

Prod

uct/S

ervi

ce C

ateg

ory

FPr

oduc

t/Ser

vice

Cat

egor

y G

Les

s: R

etur

ns &

Allo

wan

ces

Oth

er I

ncom

e S

ales

(ca

sh)

Sal

es (

cred

it) B

ad D

ebt E

xpen

se -

Acc

rual

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ndin

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Tra

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Util

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12,7

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12,7

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12,7

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12,7

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152,

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6,65

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Ship

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686

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300

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Payr

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14,2

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14,2

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14,2

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14,2

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14,2

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P

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1,06

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1,06

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12,7

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20

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2,

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Prop

erty

Tax

es

-

Ren

t1,

767

1,99

2

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992

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Ship

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Tel

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15

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150

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0

150

15

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Util

ities

707

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1,59

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25

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Ass

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YEAR 3 YEAR 3 YEAR 3 YEAR 3 YEAR 3 YEAR 3 YEAR 3 YEAR 3 YEAR 3 YEAR 3 YEAR 3 YEAR 3

App

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DE

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Ass

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63

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63

5

63

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63

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63

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63

5

63

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63

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63

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App

endi

x



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