Tete Styies Fane Dictan I Premise: After a stellar February performance, your Chix and Waffles food truck sat in the garage for the duration of the lockdown. You will slowly re-start your business on October 16 and plan on increasing volume by November and December but still not at February levels. In February, you did 550 covers/day at an average of $8/plate. You operated the truck on weekdays at a FIDI location (5 days/wk) and did special events one day per weekend, 250 covers each at $15/plate. Assumptions: 1. For the second half of October, only 1/3 of the February dally covers will be achievable. No special events are anticipated. 2. The operation had 4 employees: Chef/Owner at an annual salary of $45,000 (that's you) 3 cooks/assistants at $17/hr and 40 hrs/wk 3. In October, only you, the chef and an assistant will re-start. Another cook will be added in November and by December, you will be staffed at pre-pandemic levels. 4. The truck is fully depreciated. 5. Food cost is anticipated to be at 4s% in October and 42% for the months of November and December. This is attributed to the shortage in meat supplies. 6. Special events will be resumed in December. 7. Conservative forecast for October sales is 1/3 of February daily covers. November sales will be at 75% of February. December daily sales will be at November levels. 8. Paper supplies/disposables are budgeted at $1/cover. 9. Cleaning supplies may rise .5% due to more stringent sanitizing protocols. 10. Laundry is pegged at $2.75/day per employee. 11. Employee benefits are at 24% of salaries and wages + $140/mo per employee for Health Insurance and employee meals at $2.50 a day per employee. 12. Licenses and Miscellaneous Expenses are fixed. Ch and Wafes Month Ending October, 2020 Month Ending November, 2020 Month Ending December, 2020 Month Ending February 29, 2020 Sales Revenue FDI 18,000 85% Spectal Events 15,000 15% Total Sales Revenue 101,000 10O% Cost of Sales Cost of Sales, Food 41,200 40% ON Les Employee Meals 240 Net cost of sales, food 40,960 40% Total Net Cost of Sales 40,960 62,040 6ON Gross Margin (Profn) Departmental Operating Expenses Selaries and wages Employee benefits Total payroll related expenses 11,910 12% 3,658 15,568 15N Paper Supplien, Dispoubles 11,000 1IN Cleaning supplies 1,030 Laundry 264 ON Sheett Sheet Sheet3 Specdal Events 15,000 15% Total Sales Revenue 103,000 100% Cost of Sales Cost of Sales, Food 41,200 40% Less Employee Meals 240 0% Net cost of sales, food 40,960 40% Total Net Cost of Sales 40,560 Gros Margin (Prot) 62,040 GON Departmental Operating Expenses Salaries and wages 11,910 12% Employee benefits 3,658 4% Total payroll related expenses 15,568 15% Paper Supplies, Disposabies 11,000 11K Cleaning supplies 1,030 Laundry 264 Licenses 85 Miscellaneous 100 0% Total Operating Expenses 28.047 27% Net income (Lass) 33,993 Sheett Sheet Sheeta