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Restaurant invoice sample for Planning

hey if you're looking to start a fast casual restaurant and you need a set of financial projections maybe for a potential investor or lender uh then you've come to the right place we have created a financial projection template built specifically for fast casual restaurants and I'm going to walk you through how to fill the template out how it works what you're going to get at the end of that process and how you can provide that to uh potential investors or lenders but before I dive into the template just a little bit of background on me my name is Adam hooka I'm the co-founder of projection hub and we help entrepreneurs create Financial projections for potential investors and lenders we've been doing this for a little over 10 years I spent 10 years myself as an SBA lender and so have a lot of experience helping folks secure SBA financing so if that's helpful to you feel free to reach out to me and I'd be happy to try to help guide you on the SBA process as well today we're specifically going to be focused on this fast casual restaurant projection template I put a link in the description of the video below so you can grab this template and and follow along and and if you stick around to the very end of the video as a thank you for sticking around to the end and listening to me drown on about maybe not the most exciting topic of financial modeling you're going to get a discount code I'm going to give you access to a discount code at the end of the video as our thank you for sticking around so with that let me go ahead and dive into how this model works all right we're going to start here on the add a glance tab so this is kind of the end of the process so after you've done input all of your assumptions you're going to have some nice charts and graphs and tables that you're going to be a ble to put into a business plan or a pitch deck for lenders and investors you'll notice some industry specific assum or data like how many customers your customer acquisition costs average customer spend U customers per day your food cost percentage we have catering built into the model as well if you're going to do catering you can see that as well you'll notice some other graphs and charts and tables here as well you're also going to get a 5-year income statement summary a 5-year cash flow summary a year balance sheet summary and then the income statement cash flow and balance sheet all broken down by month for each of the five years so this is going to give you everything you need uh for a potential SBA loan or um really anything that I would expect most investors or lenders to to need would be available in this model we're going to need to do a little bit of work though in order to get this filled out so we're going to step back here to the input assumptions Tab and the first thing you need to know is that any cell that's highlighted in blue and is is an assumption tab that you can change without breaking anything in the model so you can set the projection start month you're starting cash balance how much you are personally going to invest if you're going to personally invest some into the business and then if you also have outside investors you could put that in here as well so that'd be this new Equity investment could be from outside investors and you can select what month in the model that's coming in so month one in the model would be you know kind of right at the beginning month zero this could be that you know you've already maybe put in some money into the into the into the business to get it even to this point you can also uh put in accounts receivable terms now for a restaurant typically you're going to get paid 100% of of your Revenue right when you provide the food right when you when you make the sale so leaving this at 100 probably makes the most sense accounts payable this just means how what percentage of your bills are you going to pay in the month that you incurred the expense versus the next month so some of your expenses like maybe your utility bill you'll get a utility bill in the mail at the end of the month for the prior month and then you might have 30 days to pay it so you have a little bit of a delay there and so some of your bills maybe some of your vendors would also give you uh an invoice and give you some time to pay so you could assume that some percentage are paid in the following month on the inventory side you can put your initial starting inventory and then the percentage of inventory that you would hold on hand as a percentage of sales so I'd recommend just putting a relatively small percentage here maybe 10 to 30% and what this is going to do is just keep some inventory on hand you're going to you're going to have some inventory on hand but since a lot of you know food products are going to be perishable you're probably not going to keep more than a week or two worth of you know supplies inventory on hand in most cases I would expect on the fixed asset side you can input uh leasehold improvements so let's say you're renting out of space and you need the loan to help cover Renovations or leasehold improvements you can put that in here you've got a value of $60,000 on the renovations and you can select what month you're going to going to do that I'm going to set the Salvage cost to zero on the equipment you can say you know how much maybe there's already maybe there was already a restaurant here and so you don't need to outfit a whole kitchen but you need some new equipment some new furniture and maybe a new sign and you can also spread out when you're going to purchase this so maybe the furniture you're going to purchase in mon month three and the signage you're not going to actually purchase until month month four of the model you can set um loans so let's say you're going to take a $10,000 loan from friends and family and let's say you've already done that even to just to get to this point maybe you've you've already kind of gotten started with this restaurant concept and so you actually took the $110,000 loan already and so if that's the case you want to put zero in in this first payment month meaning you've already actually received the loan if you put month one in here or any future month it's going to assume that you're going to receive that $120,000 in cash and then start paying on it so so zero for existing loans one for loans that you're going to get and then you can put the number the interest rate and the number of months left to pay on that loan and then this section of the model once once you're done with the projections you're going to want to come back to look at the screen table now right off the bat it may be broken it might not make sense and that could be because what it's trying to do here is determine when you're going to be cash flow positive well if you haven't finished filling out the model or maybe you just put the expenses in but not the revenue side well the model is going to say you know you you never break even you're not cash flow positive it's not going to know what to do it's going to break so wait until you're all done and then come back to the this and if it's if it's still not working it could be that your starting cash is not sufficient it could be that um you never reach break even if you don't ever reach Break Even or positive cash flow the the model is going to not know what to do because it's trying to figure out how much working capital how much extra cash do I need to help me reach that point until I break even so keep that in mind on the import Revenue tab here we can set an advertising budget so let's assume we we spend a bit on Advertising we think it's going to cost us 10 bucks to uh acquire a new visitor to the restaurant and so we've got a thousand people a month from new organic visitors or Word of Mouth visitors and we can set a growth rate on that so we say okay over time that's going to grow 2% a month you could also make this a negative so maybe over time you kind of saturate the market and everyone that's wants to try the restaurant has tried it and so it might actually your new visitors might actually go down over time from there you can set a percentage what percentage of your new visitors are going to become regulars so we can set a percentage of who we think will be regulars of those regulars some percentage of those regulars may leave each month so we're saying 4% of our regular customer base is going to stop being a customer anymore each month ultimately that gives us this number of active regulars to the restaurant that is going to then allow us to say okay how many visits per regular per month should we expect so we said 1.5 times per month here is how many times are regular an active regulars going to come that allows us to calculate the total customer visits during the month and we can also see customers per day and customers per hour and so you can kind of just do a gut check does that makes sense with your model do you think you can you know by month 12 here do you think you can have 150 unique customers a day does that does that make sense for the for the business model you're looking to do and then say this is a a fast casual restaurant so maybe just have basic sandwiches or basic food item drinks and and sides and so you can put the the price that you're going to charge to the customer this is your cost how much does it cost so your your food and labor cost or I'm sorry just your food cost here this would just be your food cost in this section and then this is the average number of purchases per person per visit so let's just go through that to be clear here if this says 0.9 that means of these 1575 customers that visit during the month 0.9 or 90% of them are going to order a basic food item 08 or 80% of them are going to order a drink and 3 30% of them are going to order an add-on so so all of that's going to kind of be calculated here to say to come up with what's our average customer ticket and so here we can see average customer tickets $10.20 we can apply this growth rate to say we're going to increase prices or we're going to try to upsell more over time and so we think we're going to be able to apply this annual growth rate to the to the ticket average ticket you can also apply an inflation rate to the average cost here as well and then the last section in the revenue side here is we have the ability to add in catering so if you want to do catering as well you can H set the number of catering events or orders you're going to have per month what the average revenue per catering event is the average food cost cost and labor cost per catering event to give you your catering revenue and cost of good sold so that is it on the revenue side on the direct labor side we're going to say how many hours are we open each week plus any extra hours so any opening or closing hours so if you're open seven days a week and you have 1 hour early for opening one hour after close that you're that you're needing at least an employee there and then you can set the average employee hourly rate this sets the number of transactions per per employee per hour so um let's say you have three employees like one one at the cash register and two cooks that would mean that you think you can handle 24 orders so three employees times 8 per hour so 24 orders per hour so that's what you're trying to get at here trying to figure out how many orders can I can I get with the employees that I would have so then we say how many hours per week per employee be 30 hours or we can set whatever that is then the minimum employees per hour so we're saying here let's say we always have to have at least two employees no matter kind of what our sales volume looks like we have to have at least two employees so all that will help us calculate our direct labor expense here and then on the other operating expenses here we can set various operating expenses and we can set our things like accounting expense or transaction fees could be a percentage of Revenue now 8% is probably too high so I would unless you are unless that's like an Uber Eats or some sort of or door Dash or something that's taking a significant um percentage of Revenue more than just the credit card processing fee if this is just your if this transaction fee should just be from credit card processing fees that might be 3 3% so 03 could be what you'd want to put in there as an example you can put in your insurance and rent expense and so on right then finally we can put in our salar position so we've already talked about direct labor and the hourly employees on the direct labor tab but you might also have a manager or supervisor that have a specific salary here you can enter in their annual salary their employer taxes benefits and then what month they will start so we're saying this position is going to start in month one and for the supervisor we're not going to hire the supervisor until month 25 so at the beginning of year three in the model we're going to hire a supervisor as well and you can also set the number of those particular employees so if you said well I'm actually going to have you know three shift supervisors you could actually put in three here as an example and that is it on the input side of things so you're then going to come back to where we started the profit loss at a glance we see here we have a net loss in the first year as a startup that probably makes some sense that's why you're getting alone to help cover you know startup cost as you ramp up and then you can see here we end up showing a up to 18% net income by the end of year five you want to keep an eye on that you know if it's a restaurant probably not going to have 40% net profit margins so keeping that in the high single digits low double digits is probably kind of normal for the industry there so keep that in mind as you as you look at the results here okay thank you for sticking around to the very end um if you have have any questions at all please don't hesitate to reach out to me at support projection hub.com be happy to try to help also as a thank you as I promised uh if you go in the description of the video below there's going to be a link to a form that you can fill out you fill out that form to get a coupon or coupon code or discount code that you can use as our thank you and take a little discount off of this particular template and so thank you for sticking around to the end so I appreciate that and again if you have any questions at all please don't hesitate to reach out [Music] [Applause] thanks