*****Do not delete the cells in Blue or you will delete the calculation that has been provided for you. You will enter the numbers in the cells that have a yellow background colour.******

7. Financial - 3 Scenarios Peak Season, Shoulder Season, and Current Pandemic use the Industry Standards document to assist with the spreadsheet.

(THE SEATS IN OUR RESTAURNT IS 80)

1. Complete Income Statement - Calculate profit/loss report for a month for the Peak & Shoulder Season, and Current Pandemic. Spreadsheet to show Sales/Costs/Expenses and Net Income.

Sales Totals Establish a logical prediction of sales for a month in each season Peak, Shoulder & Pandemic. Percentages of Sales (Food, Beverage, and if necessary, Merchandise) are set at an attainable value based on your restaurant concept. You must consider the number of seats and turns that you will have on average for each month of the season.

Cost of Sales accurate Cost Percentages are set at an appropriate % of Industry Standards.

Operating Expenses accurate Operating Expenses are set at an appropriate % of Industry Standards.

Net Income The Net Income Percentages are reflective of the Industry Standards and/or reflect the potential of sales according to the current season.

Industry Standards: Restaurant Financials Averages

Sales

Food Sales 75-85% of total Sales

Beverage Sales 15-25% of total Sales

Cost of Sales

Food Cost 30-40% of Food Sales

Beverage Cost 18-30% of Beverage Sales

Merchandise 3-15% of Merchandise Sales

Total Cost of Sales 28-32%

Operating Expenses

Variable Costs/Expenses

Salaries & Wages 30-35% of Total Sales

Direct Operating Expenses 3-5% of Total Sales

Music & Entertainment 0.5-2.5% of Total Sales

Marketing 6-10% of Total Sales

Utility Services 3-5% of Total Sales

Repairs & Maintenance 2-4% of Total Sales

Fixed Costs/Expenses

Depreciation & Interest 10-15% of Total Sales

Occupancy Cost Rent 2-8% of Total Sales

Total Operating Expenses 60-80% of Total Sales

Calculation: (Total Operating Expenses/Total Sales) X 100 = Total Operating Expenses %

Total Net Income

Total Net Income 3-15%

Calculation: (Total Gross Income (before Expenses) Total Operating Expenses) Taxes = Net Income

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