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SOURCES AND USES

Fund Usage
Long Term Capitalization
Leasehold Improvements
Equipment
Inventory
Prof Fees for design/inventory
Construction Management fee
Total Long Term

Amount
$0
$650,000
$236,250
$106,350
$0
$992,600

Short Term Capitalization


Pre-Opening Membership/Fundraising
Start-up staffing
Start-up promotion
Interest paid pre-opening (owner loans)
Post-opening professional support
Operating cost prior to opening
Operatiing Capital (Cash)
Total Short Term

$
$
$
$
$
$
$
$

Overrun allowance

Total Capital Needed

$
EQUITY $
TOTAL TO BE BORROWED $

Assumptions from other sheets


Building Space Square Footage
First year sales

Assumptions
Leasehold Improvements
Sales Floor square footage
Equipment psf
Inventory psf
Professional fees
Construction management fee
Pre-opening staffing - full cohort
Pre-opening staffing - general manager
Pre-opening staffing - admin managers
Start Up Promotion
Interest rate on Owner loans
% borrowed before opening
Months capital borrowed before opening
Operating capital
Other costs in lead up to construction
Overrun estimate
Membership Fee
Number of members
Number of indiv loans
Avg size of indiv loan

208616397.xlsx.ms_office

$
$
$
$

Fund Sources
Equity
Memberships
Grassroots Fundraising
Grants from local & regional foundations
City of GSO Econ Dev't Grant
Federal grants (USDA, SBA, Block grants)
Total Equity

Subordinated debt
50,000 5 Year Owner Loans @ 3%
92,116 10 Year Owner Loans @3%
18,390 CFGG Loan @2.5%
3,750 Total Subordinated Loans
30,000
15,000 Government loans
220,681 City of GSO Econ Dev't Loan (0%, 15 years)
429,937 Total Government Loans

Amount
$
$
$
$
$
$

75,000
25,918
260,000
100,000
200,000
660,918

$
$
$
$

100,000
100,000
50,000
250,000

$
$

600,000
600,000

213,381 CDFI Loans


CDFI Loan ($125,000 @ 6.75%)
$
1,635,918 Total CDFI Loans
$
660,918
975,000
TOTAL BORROWED $

125,000
125,000
975,000

10,000 From revenue model


3,678,022 From revenue model

35.00
67.5%
65.00
35.00
12%
1
5
2
0.5%
3.0%
100%
6
6%
15,000
15%
100
1,000
100
2,000

per total square foot


of total square footage
per total square foot
per retail square foot
of (LHI+eqpt+inv)
months of wages
months of wages

Data Source
S Reid/vanilla box
S Reid
S Reid
S Reid
S Reid
S Reid
S Reid
S Reid

months of wages
of first year sales

of year 1 sales
of start up costs

S Reid
calculated
S Reid
S Reid
S Reid
S Reid

Capital Requirements

RCC Year 1 Income Statement


Month of Operation
Month Name
Number of Weeks
Revenue Schedule
Gross sales
Cost of goods sold
Shrink

1
November
4.29

$
$
$
Net Gross Profit $

2
December
4.43

3
January
4.43

4
February
4.00

5
March
4.43

6
April
4.29

Month of Start-up
7
May
4.43

8
June
4.29

9
July
4.43

10
August
4.43

11
September
4.29

12
October
4.43

197,802
139,846
5,024
52,932

$
$
$
$

238,462
168,592
6,057
63,812

$
$
$
$

272,527
192,677
6,922
72,928

$
$
$
$

276,923
195,785
7,034
74,105

$
$
$
$

340,659
240,846
8,653
91,160

$
$
$
$

329,670
233,077
8,374
88,220

$
$
$
$

340,659
240,846
8,653
91,160

$
$
$
$

329,670
233,077
8,374
88,220

$
$
$
$

340,659
240,846
8,653
91,160

$
$
$
$

340,659
240,846
8,653
91,160

$
$
$
$

329,670
233,077
8,374
88,220

$
$
$
$

340,659
240,846
8,653
91,160

Annual
12 months
52.14

$ 3,678,022
$ 2,600,362
$
93,422
$
984,239

% of Sales

100.00%

26.76%

Labor
Wages & Salary: Production Staff
Wages & Salary: Admin Staff
Payroll Taxes - Production employees
Payroll taxes - Admin employees
Workers Comp - Production employees
Workers Comp - Admin Employees
Benefits - FT production employees
Benefits - FT admin employees
Total Labor

$
$
$
$
$
$
$
$
$

27,587
12,804
2,938
1,364
690
128
3,000
1,250
49,759

$
$
$
$
$
$
$
$
$

32,307
13,230
3,441
1,409
808
132
3,000
1,250
55,577

$
$
$
$
$
$
$
$
$

36,108
13,230
3,845
1,409
903
132
3,000
1,250
59,878

$
$
$
$
$
$
$
$
$

34,330
11,950
3,656
1,273
858
120
3,000
1,250
56,437

$
$
$
$
$
$
$
$
$

38,008
13,230
4,048
1,409
950
132
3,000
1,250
62,028

$
$
$
$
$
$
$
$
$

36,782
12,804
3,917
1,364
920
128
3,000
1,250
60,164

$
$
$
$
$
$
$
$
$

38,008
13,230
4,048
1,409
950
132
3,000
1,250
62,028

$
$
$
$
$
$
$
$
$

36,782
12,804
3,917
1,364
920
128
3,000
1,250
60,164

$
$
$
$
$
$
$
$
$

38,008
13,230
4,048
1,409
950
132
3,000
1,250
62,028

$
$
$
$
$
$
$
$
$

38,008
13,230
4,048
1,409
950
132
3,000
1,250
62,028

$
$
$
$
$
$
$
$
$

36,782
12,804
3,917
1,364
920
128
3,000
1,250
60,164

$
$
$
$
$
$
$
$
$

38,008
13,230
4,048
1,409
950
132
3,000
1,250
62,028

$
$
$
$
$
$
$
$
$

430,719
155,777
45,872
16,590
10,768
1,558
36,000
15,000
712,283

11.71%
4.24%
1.25%
0.45%
0.29%
0.04%
0.98%
0.41%
19.37%

Variable expenses
Advertising
Repairs
Maintenance
Bad Debt/Bank Charges
Supplies
Credit Card Charges
Miscellaneous Expenses
Total Variable Expenses

$
$
$
$
$
$
$
$

2,631
198
593
396
2,176
2,534
593
9,121

$
$
$
$
$
$
$
$

3,172
238
715
477
2,623
3,055
715
10,995

$
$
$
$
$
$
$
$

3,625
273
818
545
2,998
3,491
818
12,566

$
$
$
$
$
$
$
$

3,683
277
831
554
3,046
3,547
831
12,769

$
$
$
$
$
$
$
$

4,531
341
1,022
681
3,747
4,364
1,022
15,708

$
$
$
$
$
$
$
$

4,385
330
989
659
3,626
4,223
989
15,201

$
$
$
$
$
$
$
$

4,531
341
1,022
681
3,747
4,364
1,022
15,708

$
$
$
$
$
$
$
$

4,385
330
989
659
3,626
4,223
989
15,201

$
$
$
$
$
$
$
$

4,531
341
1,022
681
3,747
4,364
1,022
15,708

$
$
$
$
$
$
$
$

4,531
341
1,022
681
3,747
4,364
1,022
15,708

$
$
$
$
$
$
$
$

4,385
330
989
659
3,626
4,223
989
15,201

$
$
$
$
$
$
$
$

4,531
341
1,022
681
3,747
4,364
1,022
15,708

$
$
$
$
$
$
$
$

48,918
3,678
11,034
7,356
40,458
47,115
11,034
169,594

1.33%
0.10%
0.30%
0.20%
1.10%
1.28%
0.30%
4.61%

9,167
750
2,000
150
100
80
100
250
1,307
5,860
150
300
250
100
250
400
21,214

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
2,500
150
100
80
100
250
1,301
5,860
150
300
250
100
250
400
21,707

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
2,500
150
100
80
100
250
1,294
5,860
150
300
250
100
250
400
21,701

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
2,200
150
100
80
100
250
1,287
5,860
150
300
250
100
250
400
21,394

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
1,500
150
100
80
100
250
1,281
5,860
150
300
250
100
250
400
20,687

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
800
150
100
80
100
250
1,274
5,860
150
300
250
100
250
400
19,981

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
1,200
150
100
80
100
250
1,267
5,860
150
300
250
100
250
400
20,374

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
1,500
150
100
80
100
250
1,261
5,860
150
300
250
100
250
400
20,667

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
1,500
150
100
80
100
250
1,254
5,860
150
300
250
100
250
400
20,660

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
1,500
150
100
80
100
250
1,247
5,860
150
300
250
100
250
400
20,653

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
800
150
100
80
100
250
1,240
5,860
150
300
250
100
250
400
19,946

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9,167
750
1,000
150
100
80
100
250
1,233
5,860
150
300
250
100
250
400
20,139

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

110,000
9,000
19,000
1,800
1,200
960
1,200
3,000
15,246
70,318
1,800
3,600
3,000
1,200
3,000
4,800
249,123

2.99%
0.24%
0.52%
0.05%
0.03%
0.03%
0.03%
0.08%
0.41%
1.91%
0.05%
0.10%
0.08%
0.03%
0.08%
0.13%
6.77%

80,094

88,280

94,144

90,599

98,423

95,346

98,110

96,032

98,396

98,389

95,312

97,875

$ 1,131,000

30.75%

Fixed expenses
Rent
$
Electric
$
HVAC
$
Phone
$
Water & Sewer
$
Pest Control
$
Commercial Trash Removal
$
Insurance - Inclusive (R&D & liability etc.) $
Interest on Debt
$
Depreciation
$
Accounting
$
Payroll Fees
$
Computer/Website Expense (hosting, email etc.)
$
Legal Expenses
$
Membership Fees etc.
$
Taxes & Licenses
$
Total Fixed Expenses $
TOTAL OPERATING COSTS $
Net Profit $
Income Taxes

208616397.xlsx.ms_office

(27,162) $

(24,467) $

(21,216) $

(16,495) $

(7,263) $

(7,126) $

(6,949) $

(7,812) $

(7,235) $

(7,229) $

(7,092) $

(6,715) $
$

(146,761)

-3.99%

Yr 1 Income Statement

RCC Year 1 Income Statement


NET INCOME AFTER TAXES
Labor as a % of sales
Assumptions
Cost of goods sold (before shrink)
Shrink
Payroll Taxes
Workers Compensation (Risky)
Workers Compensation (Non-Risky)
Employee health benefits
credit card fee rate
% of credit card usage
Sales Tax
Capital Depreciation
Equipment Depreciation
Income Tax
Advertsing &marketing costs
Repairs
Maintenance
Bad debt/Bank Charges
Supplies
Miscellaneous
Rent
Square footage

208616397.xlsx.ms_office

$
25%
70.7%
2.54%
10.65%
0.025
0.01
$3,000
0.03
0.4
0.0675
20
10
0.4
1.33%
0.1%
0.3%
0.2%
1.1%
0.3%
$11.00
$10,000.00

23%

22%

20%

18%

18%

18%

18%

18%

18%

18%

18%

(146,761)
19%

0.00%

of wages

per FT employee/year

years
years
of sales
of sales
of sales
of sales
of sales
of sales
psf
square feet

Yr 1 Income Statement

5-Year Income Statement


1
Revenue Schedule
Gross sales
Cost of goods sold
Shrink

$
$
$
Net Gross Profit $

Year of operation of Start-up


3
4

3,678,022
2,600,362
93,422
984,239

Cumulative

$ 3,935,484 $ 4,210,967
$ 2,782,387 $ 2,977,154
$
99,961 $ 106,959
$ 1,053,135 $ 1,126,855

$ 4,505,735 $ 4,821,137
$ 3,185,555 $ 3,408,544
$ 114,446 $ 122,457
$ 1,205,735 $ 1,290,136

$ 21,151,344
$ 14,954,001
$
537,244
$ 5,660,100

% of sales

100.00%
70.70%
2.54%
26.76%

Labor
Wages & Salary: Production Staff
Wages & Salary: Admin Staff
Payroll Taxes - Production employees
Payroll taxes - Admin employees
Workers Comp - Production employees
Workers Comp - Admin Employees
Benefits - FT production employees
Benefits - FT admin employees
Total Labor
Variable expenses
Advertising
Repairs
Maintenance
Bad Debt/Bank Charges
Supplies
Credit Card Charges
Miscellaneous Expenses

$
$
$
$
$
$
$
$
$

430,719
155,777
45,872
16,590
10,768
1,558
36,000
15,000
712,283

$
$
$
$
$
$
$
$
$

452,255
160,450
48,165
17,088
11,091
1,605
37,080
15,450
743,184

$
$
$
$
$
$
$
$
$

452,255
165,264
50,573
17,601
11,424
1,653
38,192
15,914
752,875

$
$
$
$
$
$
$
$
$

452,255
170,221
53,102
18,129
11,766
1,702
39,338
16,391
762,905

$
$
$
$
$
$
$
$
$

452,255
175,328
55,757
18,672
12,119
1,753
40,518
16,883
773,286

$
$
$
$
$
$
$
$
$

2,239,738
827,040
253,469
88,080
57,169
8,270
191,129
79,637
3,744,532

10.59%
3.91%
1.20%
0.42%
0.27%
0.04%
0.90%
0.38%
17.70%

$
$
$
$
$
$
$
Total Variable Expenses $

48,918
3,678
11,034
7,356
40,458
47,115
11,034
169,594

$
$
$
$
$
$
$
$

50,385
3,788
11,365
7,577
41,672
48,529
11,365
174,681

$
$
$
$
$
$
$
$

51,897
3,902
11,706
7,804
42,922
49,985
11,706
179,922

$
$
$
$
$
$
$
$

53,454
4,019
12,057
8,038
44,210
51,484
12,057
185,319

$
$
$
$
$
$
$
$

55,057
4,140
12,419
8,279
45,536
53,029
12,419
190,879

$
$
$
$
$
$
$
$

259,711
19,527
58,581
39,054
214,798
250,142
58,581
900,395

1.23%
0.09%
0.28%
0.18%
1.02%
1.18%
0.28%
4.26%

110,000
9,000
19,000
1,800
1,200
960
1,200
3,000
15,246
70,318
1,800
3,600
3,000
1,200
3,000
4,800
249,123

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

113,300
9,270
19,570
1,854
1,236
989
1,236
3,090
15,083
70,318
1,854
3,708
3,090
1,236
3,090
4,944
253,867

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

116,699
9,548
20,157
1,910
1,273
1,018
1,273
3,183
13,814
70,318
1,910
3,819
3,183
1,273
3,183
5,092
257,653

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

120,200
9,835
20,762
1,967
1,311
1,049
1,311
3,278
12,475
70,318
1,967
3,934
3,278
1,311
3,278
5,245
261,519

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

123,806
10,130
21,385
2,026
1,351
1,080
1,351
3,377
11,060
70,318
2,026
4,052
3,377
1,351
3,377
5,402
265,466

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

584,005
47,782
100,874
9,556
6,371
5,097
6,371
15,927
67,678
351,588
9,556
19,113
15,927
6,371
15,927
25,484
1,287,628

2.76%
0.23%
0.48%
0.05%
0.03%
0.02%
0.03%
0.08%
0.32%
1.66%
0.05%
0.09%
0.08%
0.03%
0.08%
0.12%
6.09%

1,131,000 $ 1,171,732 $ 1,190,449 $ 1,209,743 $ 1,229,631 $

5,932,555

28.05%

Fixed expenses
Rent
Electric
HVAC
Phone
Water & Sewer
Pest Control
Commercial Trash Removal
Insurance - Inclusive (R&D & liability etc.)
Interest on Debt
Depreciation
Accounting
Payroll Fees
Computer/Website Expense (hosting, email etc.)
Legal Expenses
Membership Fees etc.
Taxes & Licenses
Total Fixed Expenses

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

TOTAL OPERATING COSTS $


Net Profit $
Income Taxes $
NET INCOME AFTER TAXES $

208616397.xlsx.ms_office

(146,761) $

(118,597) $

(146,761) $

(118,597) $

(63,594) $
-

(63,594) $

(4,009) $

60,505 $

(272,456)

24,202 $

24,202

(4,009) $

36,303 $

(296,658)

-1.29%

5-Yr Income Statement

Year 1 Cash Flow Analysis


1
$ 220,681

2
$ 205,665

3
$ 195,211

4
$ 189,573

5
$ 188,852

Month of Start-up
6
7
$ 200,296 $ 211,363

8
$ 223,106

9
$ 233,473

10
$ 244,917

11
$ 256,360

12
$ 267,427

$ 197,802
$
Short-term Loan Proceeds
$
Long-Term Loan Proceeds
$
Equity Capital Proceeds
$
Total Souces $ 197,802

$ 238,462
$
$
$
$
$ 238,462

$ 272,527
$
$
$
$
$ 272,527

$ 276,923
$
$
$
$
$ 276,923

$ 340,659
$
$
$
$
$ 340,659

$ 329,670
$
$
$
$
$ 329,670

$ 340,659
$
$
$
$
$ 340,659

$ 329,670
$
$
$
$
$ 329,670

$ 340,659
$
$
$
$
$ 340,659

$ 340,659
$
$
$
$
$ 340,659

$ 329,670
$
$
$
$
$ 329,670

$ 340,659
$
$
$
$
$ 340,659

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$ 59,878
$ 199,599
$
9,167
$
3,500
$
180
$
250
$
1,294
$
800
$
650
$
$
$
$
2,848
$ 278,166
$
$ 278,166

$ 56,437
$ 202,818
$
9,167
$
3,200
$
180
$
250
$
1,287
$
800
$
650
$
$
$
$
2,855
$ 277,644
$
$ 277,644

$ 62,028
$ 249,499
$
9,167
$
2,500
$
180
$
250
$
1,281
$
800
$
650
$
$
$
$
2,861
$ 329,216
$
$ 329,216

$ 60,164
$ 241,451
$
9,167
$
1,800
$
180
$
250
$
1,274
$
800
$
650
$
$
$
$
2,868
$ 318,604
$
$ 318,604

$ 62,028
$ 249,499
$
9,167
$
2,200
$
180
$
250
$
1,267
$
800
$
650
$
$
$
$
2,875
$ 328,916
$
$ 328,916

$ 60,164
$ 241,451
$
9,167
$
2,500
$
180
$
250
$
1,261
$
800
$
650
$
$
$
$
2,882
$ 319,304
$
$ 319,304

$ 62,028
$ 249,499
$
9,167
$
2,500
$
180
$
250
$
1,254
$
800
$
650
$
$
$
$
2,889
$ 329,216
$
$ 329,216

$ 62,028
$ 249,499
$
9,167
$
2,500
$
180
$
250
$
1,247
$
800
$
650
$
$
$
$
2,895
$ 329,216
$
$ 329,216

$ 60,164
$ 241,451
$
9,167
$
1,800
$
180
$
250
$
1,240
$
800
$
650
$
$
$
$
2,902
$ 318,604
$
$ 318,604

$ 62,028
$ 249,499
$
9,167
$
2,000
$
180
$
250
$
1,233
$
800
$
650
$
$
$
$
2,909
$ 328,716
$
$ 328,716

$ (15,016) $ (10,454) $ (5,638) $


(721) $ 11,444
Ending Cash Position $ 205,665 $ 195,211 $ 189,573 $ 188,852 $ 200,296

$ 11,067
$ 211,363

$ 11,744
$ 223,106

$ 10,367
$ 233,473

$ 11,444
$ 244,917

$ 11,444
$ 256,360

$ 11,067
$ 267,427

$ 11,944
$ 279,371

Starting Cash
Sources
Cash Sales

Rental Income

Uses

$ 49,759
Cost of Goods Sold + Shrink
$ 144,870
Rent
$
9,167
Utilities
$
3,000
Pest Control & Trash
$
180
Insurance
$
250
Interest
$
1,307
Professional services
$
800
Other Fixed expenses
$
650
Purchase Depreciable Assets
$
Purchase Non-Depr. Assets
$
Dividends, Owner Pay-outs
$
Debt Principle Payments
$
2,835
Total Uses Before Taxes $ 212,819
Income Taxes
$
Total Uses After Taxes $ 212,819
Payroll & Related

Net Change in Cash

Net Change in Cash before Interest & Debt Pmt


Debt service coverage

208616397.xlsx.ms_office

55,577
174,649
9,167
3,500
180
250
1,301
800
650
2,841
248,915
248,915

$ (10,874) $ (6,311) $
-2.63
-1.52

(1,496) $
-0.36

3,421 $ 15,586 $ 15,209 $ 15,886 $ 14,509 $ 15,586 $ 15,586 $ 15,209 $ 16,086


0.83
3.76
3.67
3.84
3.50
3.76
3.76
3.67
3.88

Yr 1 Cash Flow Analysis

Five-year Cash Flow Analysis


Summary Cash Flow Analysis
1

220,681

279,371

361,149

502,153

707,050

Cash Sales

3,678,022

3,935,484

4,210,967

4,505,735

4,821,137

Rental Income

Short-term Loan Proceeds

Long-Term Loan Proceeds

Equity Capital Proceeds

Starting Cash
Sources

Total Souces $

3,678,022

3,935,484

4,210,967

4,505,735

4,821,137

Uses
Payroll & Related

712,283

743,184

752,875

762,905

773,286

Cost of Food/Products Sold

2,693,783

2,882,348

3,084,112

3,300,000

3,531,000

Rent

110,000

113,300

116,699

120,200

123,806

Utilties

31,000

31,930

32,888

33,875

34,891

Pest Control & Trash

2,160

2,225

2,292

2,360

2,431

Insurance

3,000

3,090

3,183

3,278

3,377

Interest

15,246

15,083

13,814

12,475

11,060

Professional Services

9,600

9,888

10,185

10,490

10,805

Other Fixed Expenses

7,800

8,034

8,275

8,523

8,779

Purchase Depreciable Assets

Purchase Non-Depr. Assets

Dividends, Owner Pay-outs

Debt Principle Payments

34,461

44,623

45,642

46,731

47,896

Total Uses Before Taxes $

3,619,333

3,853,705

4,069,964

4,300,838

4,547,331

Income Taxes

Total Uses After Taxes $

3,619,333

58,689

Ending Cash Position $

279,371

Net Change in Cash

Net Change in Cash before Interest & Debt Pmt


Debt servcie coverage

208616397.xlsx.ms_office

24,202
4,523,129

3,853,705

4,069,964

4,300,838

81,779

141,003

204,897

298,007

361,149

502,153

707,050

1,005,057

108,395 $
2.18

141,485 $
2.37

200,459 $
3.37

264,104 $
4.46

356,964
6.05

5-Year Cash Flow Analysis

Departments

Grocery
Frozen/Dairy
HABA/GM
Meat
Deli, Hot Foods & Catering
Seafood
Bakery
Produce

Cut Out

40.0%
16.0%
4.0%
18.0%
6.0%
5.0%
3.0%
8.0%
100.0%

Gross
Profit

Sales

$
$
$
$
$
$
$
$
$

28,292.48
11,316.99
2,829.25
12,731.61
4,243.87
3,536.56
2,121.94
5,658.50
70,731

24.0%
26.0%
30.0%
30.0%
40.0%
35.0%
40.0%
45.0%
29.3%

Shrink

$
$
$
$
$
$
$
$
$

6,790
2,942
849
3,819
1,698
1,238
849
2,546
20,731

1.0%
1.0%
5.0%
4.0%
6.0%
3.0%
5.0%
5.0%
2.540%

Net Gross Profit

$
$
$
$
$
$
$
$
$

283
113
141
509
255
106
106
283
1,797

$
$
$
$
$
$
$
$
$

6,507
2,829
707
3,310
1,443
1,132
743
2,263
18,935

23.0%
25.0%
25.0%
26.0%
34.0%
32.0%
35.0%
40.0%
26.8%

Front End, Janitorial, Security


Management, bookkeeper, Community Manager

Variable Expenses

Payroll taxes
Workers Comp
Employee benefits
Advertising
Repairs
Maintenance
Bad Debt/Bank Charges
Supplies
Credit Card Charges
Miscellaneous Expenses
Total Variable Expenses

$ 1,214
$ 190
$ 504
$ 1,023
$
77
$ 231
$ 154
$ 846
$ 985
$ 231
$ 5,455

1.72%
0.27%
0.71% starts 6 months in for full time employees =$2,000 per employee for full year
1.45%
0.11%
0.33%
0.22%
1.20%
1.39%
0.33%
7.71%

Fixed Expenses

Rent
Insurance
Depreciation
Pest & Trash
Electric, HVAC & Phone
Taxes & Licenses
Professional Fees
Security
Member Fees
Interest
Total Fixed Expenses

$ 2,115
$
58
$ 1,363
$
42
$ 601
$
93
$ 186
$
$
58
$ 295
$ 4,810

3.0% $11 psf for 10,000 sq ft.


0.1%
1.9% *Based on $650,000 equipment package with 10 year depreciation
0.1%
0.8%
0.1%
0.3%
0.0%
0.1%
0.4%
6.8%

Total Expenses

$ 20,680

29.2%

Net Pretax Profit

$ (1,745)

-2.47%

Federal Tax Liability


Net Profit after Tax

0
$ (1,745)

Average
Rate

Payroll

2.5%
7.5%
6.0%
7.7%
16.3%
11.5%
23.6%
15.0%
7.3%

$
$
$
$
$
$
$
$
$

712
850
170
983
690
406
500
850
5,160

$
$
$
$
$
$
$
$

3.2% $
4.2% $
14.7% $

2,268
2,988
10,415

$
$
$

11.87
11.33
11.33
12.95
6.00
12.95
14.00
11.33

Hours

Assumed Sales
Weekly

60.00
75.00
15.00
75.90
115.00
31.35
35.70
75.00

285.00
142.50
910.45

3,678,022
70,731
Staff

full time
part time

$ 984,606.48
7.96
20.96
11.44

$
$

77.69

17
16
33

EMPLOYEE WORKSHEET

RCC Employment - Weekly Payroll


Employee
Numbers
1
2
4
7

Wages Per
Hour
$10.50
$10.00
$10.00

Dairy/Frozen Manager (f/t)


Dairy/Frozen Clerks (p/t)
Dairy/Frozen Total

1
2
3

$14.00
$10.00

Produce Dept. Manager (f/t)


Produce Clerks (p/t)
Produce Total

1
2
3

$14.00
$10.00

Grocery Manager (f/t)


Grocery Clerks (p/t)
Grocery Total

1
2
3

$14.00
$10.00

Butcher/ Meat Dept. Mgr. (f/t)


Meat Dept. Staff (p/t)
Meat Dept Total

1
3
4

$18.00
$10.00

Deli Manager (f/t)


Deli & Meat staff (f/t)
Deli & Meat staff (p/t)
Deli Total (store hrs +2 prep.)

1
2
1
4

$14.00
$10.00
$10.00

Bakery Staff (f/t)

$14.00

37.5

$525

$2,275

$27,300

Janitorial staff (f/t)


Janitorial Staff (p/t)
Janitorial Total

1
2
3

$10.00
$10.00

35
20

$350
$400

$1,517
$1,733

$18,200
$20,800

Security Staff (f/t)


Security Staff (p/t)
Security Total

1
0
1

$10.00
$10.00

Hourly or Production Employees


Front End Manager- (f/t)
Checkout - (f/t)
Checkout - (p/t)
Checkout /Floor Total

Total Production employees


Total FT Production employees
Total PT production employees

28
12
16

Administrative Employees
Wellness & Community Mgr
Manager
Assistant Manager
Office Assistant/Bookkeeper
Total Managers
Total Admin Employees
Total F/T Staff
Total P/T Staff
TOTAL STAFF

1
1
1
1
4
3
17
16
33

208616397.xlsx.ms_office

Hours Per
Week
35
30
20

Total/Week
$368
$600
$800

Total Per
Month
$1,593
$2,600
$3,467

Total Per
Total
Year
Hours/Dept
$19,110
$41,600
175.00

35
20

$490
$400

$2,123
$1,733

$25,480
$20,800
75.00

35
20

$490
$400

$2,123
$1,733

$25,480
$20,800
75.00

35
20

$490
$400

$2,123
$1,733

$25,480
$20,800
75.00

35
20

$630
$600

$2,730
$2,600

$32,760
$31,200
95.00

35
30
20

$490
$600
$200

$2,123
$2,600
$867

$25,480
$31,200
$10,400
115.00
37.50

75.00
35
20

$350
$0

$1,517
$0

$18,200
$0
35.00

$15.00
$33.00
$20.00
$15.00

35
37.5
35
35

$8,583

$37,191

$415,090

757.50

$525
$1,238
$700
$525

$2,275
$5,363
$3,033
$2,275

$27,300
$64,350
$36,400
$27,300

$2,988

$12,946

$128,050

142.50

$11,570

$50,137

$543,140

900.00

72.50

Employee Worksheet

DEBT SERVICE

Month of Operation
Month Name

1
Nov

2
Dec

3
Jan

4
Feb

5
Mar

Debt Service year 1


6
7
8
Apr
May
Jun

9
Jul

10
Aug

11
Sep

12
Oct

Annual

CDFI Loan - interest


CDFI Loan - principal
5 Year Owner Loans - Interest
5 Year Owner Loans - principal
10 Year Owner Loans - interest
10 Year owner Loans - principal
Community Foundation - interest
Community Foundation - principal
City of Greensboro - interest
City of Greensboro - principal

$
703 $
697 $
690 $
683 $
677 $
670 $
663 $
656 $
650 $
643 $
636 $
629 $ 7,996
$ 1,168 $ 1,175 $ 1,181 $ 1,188 $ 1,195 $ 1,201 $ 1,208 $ 1,215 $ 1,222 $ 1,229 $ 1,236 $ 1,243 $ 14,461
$
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $ 3,000
$ 1,667 $ 1,667 $ 1,667 $ 1,667 $ 1,667 $ 1,667 $ 1,667 $ 1,667 $ 1,667 $ 1,667 $ 1,667 $ 1,667 $ 20,000
$
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $
250 $ 3,000
$
$
$
$
$
$
$
$
$
$
$
$
$
$
104 $
104 $
104 $
104 $
104 $
104 $
104 $
104 $
104 $
104 $
104 $
104 $ 1,250
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
-

Monthly interest
Monthly principal

$ 1,307 $ 1,301 $ 1,294 $ 1,287 $ 1,281 $ 1,274 $ 1,267 $ 1,261 $ 1,254 $ 1,247 $ 1,240 $ 1,233 $ 15,246
$ 2,835 $ 2,841 $ 2,848 $ 2,855 $ 2,861 $ 2,868 $ 2,875 $ 2,882 $ 2,889 $ 2,895 $ 2,902 $ 2,909 $ 34,461

CDFI Loan - interest


CDFI Loan - principal
5 Year Owner Loans - Interest
5 Year Owner Loans - principal
10 Year Owner Loans - interest
10 Year owner Loans - principal
Community Foundation - interest
Community Foundation - principal
City of Greensboro - interest
City of Greensboro - principal

Year 1
$7,996
$14,461
$ 3,000
$ 20,000
$ 3,000
$0
$ 1,250
$0
$0
$0

Year 2
$7,833
$14,623
$ 3,000
$ 20,000
$ 3,000
$0
$ 1,250
$10,000
$0
$0

Year 3
$6,814
$15,642
$ 3,000
$ 20,000
$ 3,000
$0
$1,000
$10,000
$0
$0

Year 4
$5,725
$16,731
$ 3,000
$ 20,000
$ 3,000
$0
$750
$10,000
$0
$0

Annual Interest
Annual Principal

$15,246
$34,461

$15,083
$44,623

$13,814
$45,642

$12,475
$46,731

$11,060
$47,896

$6,564
$49,142

$4,981
$40,475

$3,000
$20,000

$3,000
$20,000

$3,000
$20,000

$0
$60,000

$0
$60,000

$0
$60,000

$0
$60,000

$0
$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

Annual Debt Service

$49,706

$59,706

$59,456

$59,206

$58,956

$55,706

$45,456

$23,000

$23,000

$23,000

$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

$60,000

208616397.xlsx.ms_office

Annual Debt Service years 1-20


Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Year 11
Year 12
Year 13
Year 14
Year 15
Year 16
Year 17
Year 18
Year 19
Year 20
$4,560
$3,314
$1,981
$0
$0
$0
$17,896 $19,142 $20,475
$0
$0
$0
$ 3,000
$0
$0
$0
$0
$0
$ 20,000
$0
$0
$0
$0
$0
$ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000
$0 $ 20,000 $ 20,000 $ 20,000 $ 20,000 $ 20,000
$500
$250
$10,000 $10,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000

Debt Service

Mortgage Amortization - CDFI Loan


Inputs
Loan principal amount
Blended annual interest rate
Loan period in years
Base year of loan
Base month of loan

$125,000
6.750%
7
2014
November

Key Figures
Annual loan payments
Monthly payments
Interest in first calendar year
Interest over term of loan
Sum of all payments

$22,456.20
$1,871.35
$1,399.68
$32,193.40
$157,193.40

Payments in First 12 Months


Year

2015

Month
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct

Beginning
Cumulative Cumulative
Payment
Principal
Interest
Ending Balance
Balance
Principal
Interest
$125,000.00
$1,871.35
$1,168.22
$703.13
$1,168.22
$703.13
$123,831.78
$123,831.78
$1,871.35
$1,174.80
$696.55
$2,343.02
$1,399.68
$122,656.98
$122,656.98
$1,871.35
$1,181.40
$689.95
$3,524.42
$2,089.63
$121,475.58
$121,475.58
$1,871.35
$1,188.05
$683.30
$4,712.47
$2,772.93
$120,287.53
$120,287.53
$1,871.35
$1,194.73
$676.62
$5,907.20
$3,449.55
$119,092.80
$119,092.80
$1,871.35
$1,201.45
$669.90
$7,108.65
$4,119.45
$117,891.35
$117,891.35
$1,871.35
$1,208.21
$663.14
$8,316.86
$4,782.59
$116,683.14
$116,683.14
$1,871.35
$1,215.01
$656.34
$9,531.87
$5,438.93
$115,468.13
$115,468.13
$1,871.35
$1,221.84
$649.51
$10,753.71
$6,088.44
$114,246.29
$114,246.29
$1,871.35
$1,228.71
$642.64
$11,982.42
$6,731.08
$113,017.58
$113,017.58
$1,871.35
$1,235.63
$635.72
$13,218.05
$7,366.80
$111,781.95
$111,781.95
$1,871.35
$1,242.58
$628.77
$14,460.63
$7,995.57
$110,539.37

Yearly Schedule of Balances and Payments


Year
2015
2016
2017
2018
2019
2020
2021

Beginning
Cumulative Cumulative Ending
Payment
Principal
Interest
Balance
Principal
Interest
Balance
$122,656.98
$22,456.20
$14,623.45
$7,832.75
$16,966.47
$9,232.43
$108,033.53
$108,033.53
$22,456.20
$15,641.98
$6,814.22
$32,608.45
$16,046.65
$92,391.55
$92,391.55
$22,456.20
$16,731.10
$5,725.10
$49,339.55
$21,771.75
$75,660.45
$75,660.45
$22,456.20
$17,896.05
$4,560.15
$67,235.60
$26,331.90
$57,764.40
$57,764.40
$22,456.20
$19,142.12
$3,314.08
$86,377.72
$29,645.98
$38,622.28
$38,622.28
$22,456.20
$20,474.94
$1,981.26
$106,852.66
$31,627.24
$18,147.34
$18,147.34
$18,713.50
$18,147.34
$566.16
$125,000.00
$32,193.40
$0.00

208616397.xlsx.ms_office

CDFI Amoritization Schedule

REVENUE MODEL

Gross Revenue
Month
Number of Weeks
Sales

Assumptions
Annual Sales asmp
Weekly Sales at capacity
1st Month % capacity
2nd Month % capacity
3rd Month % capacity
4th Month % capacity
5th Month % capacity
Projected sales psf
Store square Footage

208616397.xlsx.ms_office

November

December

January

February

March

4.43
$272,527

4.00
$276,923

4.29
$197,802

4.43
$238,462

RCC Month of Start-up


6
7

4.43
$340,659

April

4.29
$329,670

May

4.43
$340,659

10

11

12

June

July

August

September

October

4.29
$329,670

4.43
$340,659

4.43
$340,659

4.29
$329,670

Total
4.43
52.14
$340,659 $3,678,022

4,000,000
$76,923
60%
70%
80%
90%
100%
$400
10,000

Revenue Model

Straight Line Depreciation

Capital
Equipment

$106,350
$650,000

Renaissance Co-op Committee

Over # of
years
20
10

Months/year # of months
12
240
12
120

Monthly
Depreciation
$443.13
$5,416.67

Total monthly depreciation

$5,859.79

Depreciation Calculator

Renaissance Co-op Committee

Depreciation Calculator

Mortgage Amortization
Inputs
Loan principal amount
Blended annual interest rate
Loan period in years
Base year of loan
Base month of loan

$100,000
3.000%
5
2014
June

Key Figures
Annual loan payments
Monthly payments
Interest in first calendar year
Interest over term of loan
Sum of all payments

$21,562.44
$1,796.87
$1,668.45
$7,812.20
$107,812.20

Payments in First 12 Months


Year

2015

Month
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May

Beginning
Cumulative Cumulative
Payment
Principal
Interest
Ending Balance
Balance
Principal
Interest
$100,000.00
$1,796.87
$1,546.87
$250.00
$1,546.87
$250.00
$98,453.13
$98,453.13
$1,796.87
$1,550.74
$246.13
$3,097.61
$496.13
$96,902.39
$96,902.39
$1,796.87
$1,554.61
$242.26
$4,652.22
$738.39
$95,347.78
$95,347.78
$1,796.87
$1,558.50
$238.37
$6,210.72
$976.76
$93,789.28
$93,789.28
$1,796.87
$1,562.40
$234.47
$7,773.12
$1,211.23
$92,226.88
$92,226.88
$1,796.87
$1,566.30
$230.57
$9,339.42
$1,441.80
$90,660.58
$90,660.58
$1,796.87
$1,570.22
$226.65
$10,909.64
$1,668.45
$89,090.36
$89,090.36
$1,796.87
$1,574.14
$222.73
$12,483.78
$1,891.18
$87,516.22
$87,516.22
$1,796.87
$1,578.08
$218.79
$14,061.86
$2,109.97
$85,938.14
$85,938.14
$1,796.87
$1,582.02
$214.85
$15,643.88
$2,324.82
$84,356.12
$84,356.12
$1,796.87
$1,585.98
$210.89
$17,229.86
$2,535.71
$82,770.14
$82,770.14
$1,796.87
$1,589.94
$206.93
$18,819.80
$2,742.64
$81,180.20

Yearly Schedule of Balances and Payments


Year
2015
2016
2017
2018
2019

Beginning
Cumulative Cumulative Ending
Payment
Principal
Interest
Balance
Principal
Interest
Balance
$89,090.36
$21,562.44
$19,151.59
$2,410.85
$30,061.23
$4,079.30
$69,938.77
$69,938.77
$21,562.44
$19,734.15
$1,828.29
$49,795.38
$5,907.59
$50,204.62
$50,204.62
$21,562.44
$20,334.39
$1,228.05
$70,129.77
$7,135.64
$29,870.23
$29,870.23
$21,562.44
$20,952.88
$609.56
$91,082.64
$7,745.21
$8,917.36
$8,917.36
$8,984.35
$8,917.36
$66.99
$100,000.00
$7,812.20
$0.00

Long Term Amoritization Schedule

Mortgage Amortization
Inputs
Loan principal amount
Blended annual interest rate
Loan period in years
Base year of loan
Base month of loan

$100,000
4.000%
5
2019
June

Key Figures
Annual loan payments
Monthly payments
Interest in first calendar year
Interest over term of loan
Sum of all payments

$22,099.80
$1,841.65
$2,227.16
$10,499.00
$110,499.00

Payments in First 12 Months


Year

2020

Month
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May

Beginning
Cumulative Cumulative
Payment
Principal
Interest
Ending Balance
Balance
Principal
Interest
$100,000.00
$1,841.65
$1,508.32
$333.33
$1,508.32
$333.33
$98,491.68
$98,491.68
$1,841.65
$1,513.34
$328.31
$3,021.66
$661.64
$96,978.34
$96,978.34
$1,841.65
$1,518.39
$323.26
$4,540.05
$984.90
$95,459.95
$95,459.95
$1,841.65
$1,523.45
$318.20
$6,063.50
$1,303.10
$93,936.50
$93,936.50
$1,841.65
$1,528.53
$313.12
$7,592.03
$1,616.22
$92,407.97
$92,407.97
$1,841.65
$1,533.62
$308.03
$9,125.65
$1,924.25
$90,874.35
$90,874.35
$1,841.65
$1,538.74
$302.91
$10,664.39
$2,227.16
$89,335.61
$89,335.61
$1,841.65
$1,543.86
$297.79
$12,208.25
$2,524.95
$87,791.75
$87,791.75
$1,841.65
$1,549.01
$292.64
$13,757.26
$2,817.59
$86,242.74
$86,242.74
$1,841.65
$1,554.17
$287.48
$15,311.43
$3,105.07
$84,688.57
$84,688.57
$1,841.65
$1,559.35
$282.30
$16,870.78
$3,387.37
$83,129.22
$83,129.22
$1,841.65
$1,564.55
$277.10
$18,435.33
$3,664.47
$81,564.67

Yearly Schedule of Balances and Payments


Year
2020
2021
2022
2023
2024

Beginning
Cumulative Cumulative Ending
Payment
Principal
Interest
Balance
Principal
Interest
Balance
$89,335.61
$22,099.80
$18,869.95
$3,229.85
$29,534.34
$5,457.01
$70,465.66
$70,465.66
$22,099.80
$19,638.62
$2,461.18
$49,172.96
$7,918.19
$50,827.04
$50,827.04
$22,099.80
$20,438.73
$1,661.07
$69,611.69
$9,579.26
$30,388.31
$30,388.31
$22,099.80
$21,271.43
$828.37
$90,883.12
$10,407.63
$9,116.88
$9,116.88
$9,208.25
$9,116.88
$91.37
$100,000.00
$10,499.00
$0.00

Long Term Amoritization Schedule

Mortgage Amortization
Inputs
Loan principal amount
Blended annual interest rate
Loan period in years
Base year of loan
Base month of loan

$600,000
0.000%
7
2021
January

Key Figures
Annual loan payments
Monthly payments
Interest in first calendar year
Interest over term of loan
Sum of all payments

$85,714.32
$7,142.86
$0.00
$0.24
$600,000.24

Payments in First 12 Months


Year

Month

2021

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec

Beginning
Cumulative Cumulative
Payment
Principal
Interest
Ending Balance
Balance
Principal
Interest
$600,000.00
$7,142.86
$7,142.86
$0.00
$7,142.86
$0.00
$592,857.14
$592,857.14
$7,142.86
$7,142.86
$0.00
$14,285.72
$0.00
$585,714.28
$585,714.28
$7,142.86
$7,142.86
$0.00
$21,428.58
$0.00
$578,571.42
$578,571.42
$7,142.86
$7,142.86
$0.00
$28,571.44
$0.00
$571,428.56
$571,428.56
$7,142.86
$7,142.86
$0.00
$35,714.30
$0.00
$564,285.70
$564,285.70
$7,142.86
$7,142.86
$0.00
$42,857.16
$0.00
$557,142.84
$557,142.84
$7,142.86
$7,142.86
$0.00
$50,000.02
$0.00
$549,999.98
$549,999.98
$7,142.86
$7,142.86
$0.00
$57,142.88
$0.00
$542,857.12
$542,857.12
$7,142.86
$7,142.86
$0.00
$64,285.74
$0.00
$535,714.26
$535,714.26
$7,142.86
$7,142.86
$0.00
$71,428.60
$0.00
$528,571.40
$528,571.40
$7,142.86
$7,142.86
$0.00
$78,571.46
$0.00
$521,428.54
$521,428.54
$7,142.86
$7,142.86
$0.00
$85,714.32
$0.00
$514,285.68

Yearly Schedule of Balances and Payments


Year
2022
2023
2024
2025
2026
2027

Beginning
Cumulative Cumulative Ending
Payment
Principal
Interest
Balance
Principal
Interest
Balance
$514,285.68
$85,714.32
$85,714.08
$0.24
$171,428.40
$0.24
$428,571.60
$428,571.60
$85,714.32
$85,714.32
$0.00
$257,142.72
$0.24
$342,857.28
$342,857.28
$85,714.32
$85,714.32
$0.00
$342,857.04
$0.24
$257,142.96
$257,142.96
$85,714.32
$85,714.32
$0.00
$428,571.36
$0.24
$171,428.64
$171,428.64
$85,714.32
$85,714.32
$0.00
$514,285.68
$0.24
$85,714.32
$85,714.32
$85,714.32
$85,714.32
$0.00
$600,000.00
$0.24
$0.00

Long Term Amoritization Schedule