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[Music] [Applause] hey if you're looking to start a full service hotel and you need a set of financial projections in order to raise capital from the bank or from potential investors then you've come to the right place we have built this financial projection template built specifically for hotels and this particular model really has the ability to have a a hotel restaurant spa and event center all kind of built into one model here and so i am going to walk you through that template today but first my name is adam hooksen i'm the co-founder of projection hub and over the last decade we've helped thousands of entrepreneurs create financial projections for various types of businesses today we're talking about the hotel model that we put together which we've linked to down in the description of this youtube video so if you don't have the template go down and grab it from the link in the video and then we will walk through how to fill it out with you here so the first thing i want to show you is really kind of starting here at the end we have here a at a glance tab with our profit and loss at a glance and a number of summary data kind of key performance indicators for the hotel the restaurant the spa and the event center we've seen some of the key numbers you want to be keeping an eye on to see the health of kind of each business unit and then additionally we've got a use of startup funds a kind of startup funds sources and uses table here that's going to be helpful for the bank or your potential investors along with a number of other graphs you can see over here um it's breakeven and monthly sales forecast items you can see some seasonality in there as well and in addition to that you're going to get your income statement cash flow statement and balance sheet all on an annual basis you can see those here and then again the income statement cash flow statement and balance sheet on a monthly basis as well for each of the years so this is really the end result of the work we're going to do here so i'm going to jump back to the beginning and show you how to fill this out now first thing you need to know is that any cell that's highlighted in light blue is an assumption that you can change without breaking something in the template so you can go ahead and put your name your hotel and your projection start month uh first thing we're going to assume that some of this project is probably going to be equity investment so you can put in you know whether that's just one big chunk or you have multiple investors and you want to put them in individually you can do that we can then add in our fixed assets so in this example we're saying i mean this could be either you are building or purchasing the hotel so let's maybe in this example assume that we are purchasing an existing hotel for six million dollars and we're gonna put in a hundred thousand in new furniture hundred thousand new equipment and two hundred fifty thousand dollars in a and to build out a spa uh or do a renovation on the spot so those are the kind of the startup costs um or acquisition plus startup costs that we have filled out here and we are assuming an sba loan of four million dollars along with our 3.5 million in equity to to make this happen now we're going to look at our input revenue tab let me zoom in here all right so we have just some generic assumptions here if you want to add in some annual price increases assumptions on annual increase in direct costs and wages expenses you can do that here but then we're going to get into really the details of the revenue for the hotel to start with so you can kind of give us your different room categories the number of rooms that you'll have in each category so here we're saying we have 10 double rooms 10 queen rooms well this would be two double beds two queens for example and then an average price per week night and an average price per weekend night and then here you can say add the average add-on revenue so if someone's you know taken from the mini fridge or buying room service or that sort of thing really i guess this would mostly be in the hotel because the the restaurant model would actually handle the room service here in a second then you can have the supply cost so these are you know replacement things that you would need you know soap and lotion and things that you're providing to each customer that comes into the hotel room and we are then going to fill out our assumptions on capacity so we're saying we think we're going to be at 30 we're only going to have 30 of the capacity full on weeknights we're going to be at 60 capacity on weekends for all of our rooms that's what we're that's the assumptions we have right here and then that'll give your total hotel revenue and then you can fill out your hotel direct expenses like front desk staff how many of them will you need how many hours will they work what are they paid per hour housekeeping staff and so forth now you also have the ability to add in restaurants so you can add in one restaurant or multiple restaurants now this would be restaurants if the assumption is that the hotel is really owning and operating the restaurant now i think a lot of times the hotel owner is probably just leasing that space out to a separate operating unit but if you are really thinking of you know the hotel is really operating this restaurant wants to see the projections for the restaurant itself built in that's what this will allow you to do so you have the ability to add the number of seats or the max capacity of the restaurant again what capacity filled are you now this would be you know for all of your open hours so for saying we're open 70 hours a week okay well there might be some hours within that 70 that you're at capacity but there's probably some other hours where almost nobody's at the restaurant right and so you know keep that in mind as you're filling out that capacity you have the average customer length and visit one hour and then you can fill in your menu items prices costs and then we're saying per customer how many of each of these units are they purchasing so we're saying 0.5 the average person is buying .5 soft drinks well what does that mean another way to say that would be only half of your customers are buying a soft drink only point three or thirty percent of your customers are buying a beer so that that's what this is getting at here you also have the ability to add in takeout for the restaurant as well again you can have the prices for your menu and takeout could also be room service for the restaurant as well so you could put in your room service assumptions in this section as well again you'd have the ability to enter in your restaurant direct expenses for servers and bartenders and chefs now we're going through that same exercise again for the spa i'm not going to go through this quite in so much detail because i think you're getting the idea but do the same thing for the spa and then for the event center so we're saying we have different event packages with different pricing now each event if you buy a certain package it will come with some some cost for your staff to be able to you know pull it off and and host the event also be maybe some food cost if you're providing the food for the event as well and there may be some other costs then you have what percentage of events are booked of your total bookings i'm sorry so up here you're gonna see your events per month um these different different events per month that you're assuming and then out of those events so if we have six events we're saying fifty percent of them are package one so three events in a given month are package one and you may have some uh event direct expenses as well okay we're finally getting to the point where we can see our projected revenue for our hotel restaurant spa and event center then we'll enter in operating expenses so we've already entered in direct expenses for each of the business units these are more like overhead expenses for the entire thing so may have you know building maintenance professional services your utilities and internet for the facility your accounting services also to draw your attention to this you can make some of your expenses a percentage of revenue so we've said we're going to spend here eight percent of our revenue on advertising we're expecting to spend three percent on credit card fees three percent total revenue on credit card fees and then coming to our last input tab our salaries and owner draw tab so you can add in the um this we've already entered in direct staff so you know your hourly wage workers working in the business but you may have some salaried positions for really each of the business units you may have a hotel manager restaurant manager spot manager event coordinator these may be salary positions you can pick what month those positions are going to start and end and you can pick how many of each position so for example let's say maybe maybe you don't really have one hotel general manager but you have two shift managers for the hotel for example and so you could have two of that position all right once you've done that we're all come full circle all the way back to our at a glance tab so if your particular concept is is different than this and needs to be customized we do have staff that can help customize the template for you and fill it out exactly the way you need it for your particular concept so reach out to us you can add a comment in the comment section in the youtube video below or you can reach out to us at support projectioncode.com you