Inancial management of a small burger restaurant
A 3000 sq foot fast food restaurant on a college campus serving about 300 customers per day. It will be open 7 days a week 8AM-11PM. Present your projectins for the next three years. Supporting schedules for revenue and labor are required. Be sure to include costs and revenues. 1. food and beverage. 2. Labor-salaries and wages and training.
3. Marketing expenses 4. Operating expenses including utilities 5. Sales 6. Net income.
Excel spreadsheet with 5 main items will be sent to you. Also include in the Sales REvenue:
Food Rev. Beverage REvenue, Food Cost Bev Cost. Total Income Operating expenses. An example will be sent over. Rent will remain constant at $25.00 per sq foot for 3 years. Fixed assets and equipment will be valued at $180,000 and will depreciate at a rate of 20% on reducing basis.The restaurant at any time will have 7 employees working at hourly rate of $9.00 per hour except for the owner. A customer will spend about $6.00 per order.Average cost for meal served to customer is about $1.75. The food cost should be no more than 35% and beverage 20%. On the spreadsheet of Pro-forma 12 month projected income statement these numbers are for example and try to keep them in this range