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Hotel bill format doc for Planning

hey if you're looking to create a set of financial projections for a boutique hotel then you've come to the right place because we have created a financial projection spreadsheet template built specifically for boutique hotels and I'm going to walk you through how to fill this out and how to get it all set up for potential investors and lenders in a way that they're going to be expecting to see your projections and I'm going to walk through this template I've put a link in the description of the video below to this particular template and also if you stick around to the end of the video we're going to as a thank you provide a discount code to you that you can use as a discount to take a discount at checkout on this particular template before I dive into the template just a little bit about me my name is Adam huxema I'm the co-founder of projection hub and over the last decade we've helped over 50 000 entrepreneurs create Financial projections for potential investors and lenders and I also spent a little over a decade as a small business lender and so we looked at a lot of financial projections and what I can tell you is that your projections are not likely the thing that are that will cause a lender to say yes about your loan just on their own but your projections could cause a lender to say no so if you really demonstrate that you don't know what you're doing or your projections look like they're out in left field that could be a big red flag to potential lenders and investors and so my goal with this video in this template is to try to just help make sure that you get your projections in a format the way that lenders and investors are expecting to see what they're comfortable with and with that I'm going to go ahead and show you how to fill this out all right so we're going to start here on the at a glance Tab and this is the end of the process so after you've filled all your assumptions out you're going to get a number of different charts and graphs and tables that you can pull into a business plan or a pitch deck we've got our profit and loss at a glance some different summary data and use of startup funds and so on you'll also get a five-year income statement summary a five-year cash flow summary five-year balance sheet summary and then the income statement cash flow and balance sheet statement all broken down by month for each of the five years but in order to produce this we've got a little bit of work to do we need to fill out all these assumption tabs and we're going to start here on the input assumptions Tab and the first thing to note is that every cell that's highlighted in light blue is an assumption that you can change without breaking something in the model so we've got our our hotel here we're gonna say we're going to start this in January of 2024 and we are going to put an initial investment of 500 000 into the project we're gonna we have accounts receivable and payable terms here so we're assuming that hey we're going to receive 100 of payment when the guest stays with us we're not providing terms to anybody where they can pay us later so 100 upon delivery accounts payable we're going to pay 80 of our bills in a month or incurred twenty percent on a one month 30-day delay and we've got initial inventory balance Assumption of 5000 and we're gonna carry five percent of our total sales our monthly sales as inventory so a small percentage of our monthly sales will just we'll keep that in inventory we're going to need that to replenish inventory at the hotel all right so we have a number of fixed assets here so this the building here this will be the hotel itself 2.5 million we are going to we have the ability to have kind of a purchase or construction period here so you can spread the cost the cash flows of different large expenses here out over some period of time and so you can say could we the start month we're going to start paying in month one and end in month four so this might be an example of let's say we are constructing the building and maybe it's only going to take four months to construct but that 2.5 million is going to be spread out over that four month period now if we were buying the building if we're going to acquire it I would suggest we say month one start month and end month is the same and we're gonna we're gonna acquire it in the whole 2.5 million will be spent in that particular month let's go ahead and I think we're gonna just assume for the purpose of this that we are going to acquire this along with all of these additional fixed assets of furniture and Equipment all in month one and then you can see how you could add new furniture that maybe you're going to add out in the beginning of the last year or so month 49 in the model all right so we're going to also have an SBA loan here for three million dollars at an interest rate is six percent over a 30-year term here so now we can move over to our input Revenue Tab and what we have the ability to put in our different rooms here and so this could be room categories or the individual rooms themselves so the way I filled this out initially is I gave each room its own its own line but you could say this is king size bed with a view and maybe you've got five of those rooms and so you could put a number of rooms in that category to be five right and you can add a lot more than just the 10 rooms here if you use it that way and then you can put the average price per week night and the average price per weekend night for those rooms or for that room category along with the average add-on Revenue per room per night so this could be food from the minibar or even the bar at the restaurant if you have a bar at the restaurant or downstairs even vending machine snacks that sort of thing you could just have some sort of add-on Revenue even room service if you were going to offer that all that kind of thing could be included in this column and then we've got supplies cost per room per night this is just for the consumable supplies that are going to need to be replaced each day or after each each night the customer stays now we have the ability to put in a capacity fill now let's say in our example if we were going to construct the building or do Renovations whatnot maybe we don't have any capacity in the first four months because we're getting ready to open and then at that point in month five we start we we start selling roommates and so we have 30 capacity filled on the weeknights 60 on the weekends you can also use a section to if you have if your hotel's seasonal in nature so it may be that maybe you have very low capacity in the winter months and during the summer you're at full capacity so you have different percentages there you can also enter in assumptions like the maximum capacity that you ever think you'll hit could be maybe it's you don't expect to ever be able to be 100 full so you could say the maximum is 90 but we're going to grow our capacity filled by 15 a year so it'll start with these assumptions that you put in here in year one and it's going to grow at 15 a year from there so that will based on those assumptions and the assumptions you have up there well forecast your Revenue as well as your direct expenses as well down here so now we can enter in our operating expenses here where we can see things like advertising accounting credit card fees insurance and so on you can categorize these expenses as things like marketing General and admin or building expenses and then you this is pretty unique in that you can categorize the cost driver so is it a fixed dollar amount so let's say for advertising we're just going to spend a fixed dollar amount each month and we're going to just manually put in what we're going to spend 600 a month right and then for years two three four and five we're going to grow that fixed dollar amount by some percentage so we're going to grow up by two percent and three percent and so on but for other expenses like credit card fees that would be likely be a percentage of total revenue and so we've got that set up as a percentage total revenue and we have it as 0.03 or three percent of total revenue for credit card fees in this case your credit card fees probably are not going to increase so we have zero for the year over year increase because it's just going to follow that three percent of total revenue assumption and then finally we can see an example of a per room per month expense so maybe insurance for example maybe the insurance is going to price on a per room per month type of expense structure you may have other expenses that kind of follow some per room per month maybe internet and so on right that is our operating expense Tab and then finally we have our salaries and owner draw tab where you can enter in salary positions like Hotel manager and staff you can set an annual salary the benefits and what month that position is starting and ending so again if we're assuming maybe the operation doesn't open until month four so we're not going to higher until 1 4. we can set the number of this particular position so we're saying we actually have two Hotel managers maybe a day shift and night shift manager then we have three staff Hotel staff at the 50 000 and then we have what we're calling additional staff that we're going to hire in 125 as we increase our capacity maybe we need to hire additional staff and so we can build that into the model and all that is going to bring us back to where we started here on our at a glance Tab and you're now able to grab these tables and charts and pull them into your business plan and Pitch deck and so on so again if you have any questions about how to fill this out we're here for that we're happy to help so reach out to us at support projectionhub.com and again as a thank you for sticking around to the end of the video we have put a link to a form in the description of the video below you can fill out that form and we're going to email you a coupon code to be able to take a discount on this particular template as our thank you for sticking around to the end again leave us a comment if you have questions or comments about the template in the comment section of the video below or Reach Out directly at support projectionhub.com and we'll do our best to help thanks foreign [Applause]