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RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

Pgina 1

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

Integrantes:

Arriaga Rivas, Diego


Asmat Vidarte, Karen
Baltodano Rodrguez, Timothy
Chauca Siccha, Jessica
Garca Ros, Brian
Vega Pacheco, Cecilia

Docente:
Dr. Hermes Sifuentes Inostroza

Pgina 2

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

I.

COSTOS, INVERSIONES, CONSTRUCCIN DE PRESUPUESTOS


1.1. Inversin del proyecto
1.1.1. Inversin en activos fijos tangibles

INVERSIN EN TERRENO
DETALLE
REA
TERRENO EN CIENEGUILLA
20000 m2
Total Inversin Terreno

SOLES x m2
S/. 130.00

TOTAL
S/. 2,600,000.00
S/. 2,600,000.00

INVERSIN EN INFRAESTRUCTURA
DETALLE (Ambientes
para construir)
ALMACN
COCINA
PILETA
BAOS Y VESTUARIOS
SALN PRINCIPAL
COCHERA
ZONA COSTA
ZONA SIERRA
ZONA SELVA
CAMPO DE CULTIVO

REA
900 m2
180 m2
UND
400 m2
2500 m2
1000 m2
500 m2
500 m2
500 m2
UND

MUROS

TECHO

S/. 12,000.00
S/. 40,000.00
S/. 2,400.00
S/. 7,000.00
S/. 1,100.00
S/. 5,000.00
S/. 16,000.00
S/. 49,000.00
S/. 10,000.00
S/. 40,000.00
S/. 6,720.00
S/. 30,000.00
S/. 6,720.00
S/. 30,000.00
S/. 6,720.00
S/. 30,000.00
S/. 10,800.00
Total Infraestructura

ACABADOS
S/. 14,000.00
S/. 23,000.00
S/. 5,500.00
S/. 7,000.00
S/. 90,000.00
S/. 4,900.00
S/. 700.00
S/. 700.00
S/. 700.00
-

CIMENTACION

TOTAL

S/. 15,000.00 S/. 81,000.00


S/. 2,500.00 S/. 34,900.00
S/. 5,500.00
S/. 1,500.00 S/. 14,600.00
S/. 15,000.00 S/. 170,000.00
S/. 5,200.00 S/. 60,100.00
S/. 8,400.00 S/. 45,820.00
S/. 8,400.00 S/. 45,820.00
S/. 8,400.00 S/. 45,820.00
- S/. 10,800.00
S/. 514,360.00

MAQUINARIA Y EQUIPO
DETALLE
Equipos de Coccin
LICUADORA
BATIDORA
PELADORA DE PAPAS
MOLEDORAS
REBANADORA
TRITURADORA
LAMINADORA
CAMPANA EXTRACTORA

CANTIDAD
5
4
1
1
1
1
1
3
Total Maquinaria y Equipo

Pgina 3

PRECIO UNITARIO
S/. 6,500.00
S/. 950.00
S/. 1,800.00
S/. 1,000.00
S/. 7,700.00
S/. 900.00
S/. 1,590.00
S/. 350.00

TOTAL
S/. 50,340.00
S/. 32,500.00
S/. 3,800.00
S/. 1,800.00
S/. 1,000.00
S/. 7,700.00
S/. 900.00
S/. 1,590.00
S/. 1,050.00
S/. 50,340.00

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

MUEBLES Y ENSERES
DETALLE
Equipos de Coccin
ESTUFA
FREIDORA
PLANCHA
ASADOR
HORNOS
PARRILLA
HORNO MICROONDAS
VAPORIZADOR
MESA DE TRABAJO
MESA REFRIGERADA
MESA CALIENTE
Equipos de cocina
JUEGO DE OLLAS
OLLAS GRANDES
SETS DE CUBIERTOS
VASOS
COPAS
VAJILLA
JUEGO DE CUCHARONES
Mobiliario bsico
JUEGO INFANTIL
ANAQUEL
ESTRUCTURA PARA SS.HH.
MESA DE TRABAJO
ASIENTO INDIVIDUAL
BOOTHS
MESAS 2 PERSONAS
MESAS 4 PERSONAS
BAR PACK 4 PERSONAS
Medidas de Seguridad
EXTINTORES 6Kg
LUCES DE EMERGENCIA
SEALIZACIN

CANTIDAD

PRECIO UNITARIO

3
2
1
1
1
1
2
2
4
1
1

S/. 9,000.00
S/. 3,000.00
S/. 750.00
S/. 249.40
S/. 2,300.00
S/. 1,490.00
S/. 400.00
S/. 327.00
S/. 650.00
S/. 4,500.00
S/. 1,500.00

5
9
30
200
150
200
9

S/. 750.00
S/. 2,000.00
S/. 150.00
S/. 5.00
S/. 5.00
S/. 50.00
S/. 147.00

3
10
5
7
300
15
50
50
5

S/. 32,000.00
S/. 450.00
S/. 450.00
S/. 270.00
S/. 47.00
S/. 215.00
S/. 153.00
S/. 220.00
S/. 615.00

6
6
4
Total Muebles y Enseres
Total Activo Tangible

Pgina 4

S/. 65.00
S/. 48.00
S/. 2.00

TOTAL
S/. 47,843.40
S/. 27,000.00
S/. 6,000.00
S/. 750.00
S/. 249.40
S/. 2,300.00
S/. 1,490.00
S/. 800.00
S/. 654.00
S/. 2,600.00
S/. 4,500.00
S/. 1,500.00
S/. 39,323.00
S/. 3,750.00
S/. 18,000.00
S/. 4,500.00
S/. 1,000.00
S/. 750.00
S/. 10,000.00
S/. 1,323.00
S/. 143,690.00
S/. 96,000.00
S/. 4,500.00
S/. 2,250.00
S/. 1,890.00
S/. 14,100.00
S/. 3,225.00
S/. 7,650.00
S/. 11,000.00
S/. 3,075.00
S/. 686.00
S/. 390.00
S/. 288.00
S/. 8.00
S/. 231,542.40
S/. 3,396,242.40

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

1.1.2. Inversin en activos fijos intangibles

ACTIVO FIJO INTANGIBLE


TRMITES DE CONSTITUCIN
DETALLE
ELABORACIN DE PLANOS
Gastos de Constitucin
ELABORACIN DE MINUTA, ELEVACIN DE ESCRITURA
PBLICA E INSCRIPCIN EN EL REGISTRO
RESERVA DEL NOMBRE DE LA EMPRESA
BSQUEDA DEL NOMBRE EN SUNARP
LICENCIA DE EDIFICACIN

TOTAL
S/. 38,000.00
S/. 3,097.00
S/. 560.00
S/. 18.00
S/. 4.00
S/. 1,640.00

LEGALIZACIN DE LIBROS CONTABLES Y AUTORIZACIN DE


EMISIN DE COMPROBANTES DE PAGO
DEFENSA CIVIL
AUTORIZACIN DE PUBLICIDAD EXTERIOR
CARTA PODER
Gastos de Permiso de Funcionamiento (Municipalidad de
Cieneguilla)
Total Trmites de Constitucin

S/. 150.00
S/. 210.00
S/. 505.00
S/. 10.00
S/. 200.00
S/. 41,297.00

CAPACITACIN Y DESARROLLO DE SERVICIOS


DETALLE
CAPACITACIN DEL PERSONAL
DESARROLLO E IMPLEMENTACIN DE SOFTWARE DE
GESTIN
LICENCIAS EN SOFTWARE UTILITARIOS
Total Capacitacin y Desarrollo de Servicios

TOTAL
S/. 5,000.00
S/. 20,000.00
S/. 1,000.00
S/. 26,000.00

POSICIONAMIENTO DE LA MARCA
DETALLE
DISEO DE IMAGEN CORPORATIVA
HOSTING Y DISEO DE PGINA WEB
Total Marca

TOTAL
S/. 2,000.00
S/. 1,450.00
S/. 3,450.00

Total Activo Intangible


Total Inversin Fija

S/. 70,747.00
S/. 3,466,989.40

Pgina 5

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

1.2. Presupuesto de egresos


COSTO ANUAL EN LOS PUESTOS DE TRABAJO

Chef Ejecutivo
Sueldo
Mensual
Sueldo Total
Anual
Pago por
vacaciones
Pago por
gratificaciones

Cocinero

S/. 1,500.00
S/. 18,000.00

Base Imponible

S/. 1,690.00

S/. 11,400.00 S/. 10,200.00

S/. 20,280.00

S/. 750.00

S/. 9,000.00 S/. 10,200.00


S/. 750.00

S/. 850.00

S/. 3,000.00

S/. 1,900.00

S/. 1,700.00

S/. 3,380.00

S/. 1,500.00

S/. 1,700.00

S/. 14,250.00 S/. 12,750.00

S/. 25,350.00

S/. 2,025.00

S/. 1,282.50

S/. 1,147.50

S/. 2,281.50

S/. 875.00

S/. 554.17

S/. 495.83

S/. 985.83

S/. 16,086.67 S/. 14,393.33

S/. 28,617.33

Meseros

Ayudantes
de Mesero

Bartender

Anfitrin

S/. 1,000.00

S/. 850.00

S/. 1,690.00

Capitn Mesero

S/. 12,000.00
S/. 1,000.00
S/. 2,000.00

S/. 11,250.00 S/. 12,750.00 S/. 15,000.00


S/. 1,012.50 S/. 1,147.50 S/. 1,350.00
S/. 437.50

S/. 495.83

S/. 583.33

S/. 12,700.00 S/. 14,393.33 S/. 16,933.33


Personal de
Limpieza

S/. 750.00

S/. 900.00

S/. 12,000.00

S/. 9,000.00

S/. 9,000.00

S/. 10,800.00

S/. 1,000.00

S/. 750.00

S/. 750.00

S/. 900.00

S/. 750.00

S/. 1,500.00

S/. 850.00

S/. 2,000.00

S/. 1,500.00

S/. 1,500.00

S/. 1,800.00

S/. 1,500.00

S/. 3,000.00

S/. 1,700.00

S/. 11,250.00 S/. 11,250.00

S/. 1,500.00

Intrprete

S/. 750.00

S/. 15,000.00

S/. 750.00

Gua de
Turismo

S/. 1,000.00

ESSALUD

S/. 850.00

S/. 9,000.00 S/. 18,000.00 S/. 10,200.00

S/. 13,500.00 S/. 11,250.00 S/. 22,500.00 S/. 12,750.00

S/. 1,350.00

S/. 1,012.50

S/. 1,012.50

S/. 1,215.00

S/. 1,012.50

S/. 2,025.00

S/. 1,147.50

S/. 583.33

S/. 437.50

S/. 437.50

S/. 525.00

S/. 437.50

S/. 875.00

S/. 495.83

CTS
Costo Anual

S/. 850.00

Encargado
de Biohuerto

S/. 850.00

S/. 25,400.00

Sueldo
Mensual
Sueldo Total
Anual
Pago por
vacaciones
Pago por
gratificaciones
Base Imponible

Encargado de
Almacn

S/. 950.00

CTS
Costo Anual

S/. 950.00

Jefe de
Compras

S/. 1,500.00

S/. 22,500.00

ESSALUD

Pastelero

S/. 16,933.33

S/. 12,700.00 S/. 12,700.00

Gerente General

Sueldo Mensual
Sueldo Total Anual
Pago por vacaciones
Pago por
gratificaciones
Base Imponible

S/. 3,500.00
S/. 42,000.00

Jefe de
Comunicaciones

S/. 15,240.00 S/. 12,700.00 S/. 25,400.00 S/. 14,393.33

Encargado de
Marketing

S/. 1,760.00

S/. 1,740.00

S/. 21,120.00 S/. 20,880.00

Administrador
Web

S/. 1,500.00

Secretaria
Contable

S/. 1,320.00

Cajero

S/. 1,100.00

S/. 18,000.00 S/. 15,840.00 S/. 13,200.00

S/. 3,500.00

S/. 1,760.00

S/. 1,740.00

S/. 1,500.00

S/. 1,320.00

S/. 1,100.00

S/. 7,000.00

S/. 3,520.00

S/. 3,480.00

S/. 3,000.00

S/. 2,640.00

S/. 2,200.00

S/. 52,500.00

S/. 26,400.00 S/. 26,100.00

S/. 22,500.00 S/. 19,800.00 S/. 16,500.00

ESSALUD

S/. 4,725.00

S/. 2,376.00

S/. 2,349.00

S/. 2,025.00

S/. 1,782.00

S/. 1,485.00

CTS

S/. 2,041.67

S/. 1,026.67

S/. 1,015.00

S/. 875.00

S/. 770.00

S/. 641.67

Costo Anual

S/. 59,266.67

S/. 29,802.67 S/. 29,464.00

Pgina 6

S/. 25,400.00 S/. 22,352.00 S/. 18,626.67

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

MANO DE OBRA DIRECTA E INDIRECTA


PUESTOS DE TRABAJO
COCINA
Chef Ejecutivo
Cocinero
Pastelero
ALMACN
Jefe de Compras
Encargado de Almacn
HUERTO
Encargado de Biohuerto
SERVICIO
Anfitrin
Capitn de mesero
Meseros
Ayudantes de mesero
Bartender
Personal de limpieza
Turismo
Gua de Turismo
Intrprete del Patrimonio

Tipo de Costo

CANTIDAD

MOI
MOD
MOD

1
6
4

S/. 25,400.00
S/. 16,086.67
S/. 14,393.33

S/. 25,400.00
S/. 96,520.00
S/. 57,573.33

MOI
MOI

1
2

S/. 28,617.33
S/. 12,700.00

S/. 28,617.33
S/. 25,400.00

MOI

S/. 14,393.33

S/. 14,393.33

MOI
MOI
MOD
MOD
MOD
MOD

1
1
10
2
2
8

S/. 16,933.33
S/. 16,933.33
S/. 12,700.00
S/. 12,700.00
S/. 15,240.00
S/. 12,700.00

S/. 16,933.33
S/. 16,933.33
S/. 127,000.00
S/. 25,400.00
S/. 30,480.00
S/. 101,600.00

2
2

S/. 25,400.00
S/. 14,393.33

S/. 50,800.00
S/. 28,786.67
S/. 645,837.33

GASTO MENSUAL
S/. 4,938.89

TOTAL ANUAL
S/. 59,266.67

S/. 2,483.56

S/. 29,802.67

S/. 2,455.33

S/. 29,464.00

S/. 2,116.67

S/. 25,400.00

S/. 1,862.67
S/. 1,552.22

S/. 22,352.00
S/. 18,626.67
S/. 184,912.00

MOI
MOI
Total MOD MOI (Ao 1)

COSTO ANUAL

TOTAL ANUAL

GASTO EN PERSONAL ADMINISTRATIVO


PUESTOS DE TRABAJO
Tipo de Costo
CANTIDAD
Gerente general
Administrativo
1
UNIDAD DE COMUNICACIONES
Jefe de Comunicaciones
Administrativo
1
Diseo y Publicidad
Encargado de Marketing
Administrativo
1
Servicio Web
Administrador Sitio Web
Administrativo
1
ADMINISTRACIN Y FINANZAS
Secretaria Contable
Administrativo
1
Cajero
Administrativo
1
Total Gasto Administrativo (Ao 1)

Pgina 7

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

1.3. Estado de Ganancias y Prdidas


1.3.1. INGRESOS

INGRESOS
UNIDADES

0
S/.

Precio unitario

1
23400
110.00 S/.

S/. 2,574,000.00

Ingresos

2
24782
110.00
S/.

S/. 2,726,020.00

S/.

3
26163
110.00
S/.
2,877,930.00

4
27544
110.00
S/.

S/. 3,029,840.00

5
28925
110.00

S/. 3,181,750.00

1.3.2. CUADRO DE INVERSIONES


CUADRO DE INVERSIONES
Terreno
Infraestructura
Muebles y enseres
Maquinaria y equipo
Intangibles
Tramites de constitucion
Capacitacion y Desarrollo
Marca
Capital de trabajo
TOTAL

S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.

0
1
2,600,000.00
514,360.00
231,542.40
50,340.00
70,747.00
41,297.00
26,000.00
3,450.00
S/.
3,466,989.40

154,440.00 S/.

Pgina 8

163,561.20 S/.
S/.

172,675.80 S/.
172,675.80

181,790.40 S/.

190,905.00

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

1.3.3. CUADRO DE DEPRECIACIN

DEPRECIACION
Infraestructura
Muebles y enseres
Maquinaria y equipo

DEPRECIACION
Infraestructura
Muebles y enseres
Maquinaria y equipo
Total

Porcentaje de
depreciacin
anual
3%
10%
10%

Ao 1
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04

Ao 2
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04

Inversin inicial
S/.
S/.
S/.

Vida til

514,360.00
231,542.40
50,340.00

Ao 3
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04

Depreciacin anual
33
10
10

Ao 4
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04

Ao 5
S/. 15,430.80
S/. 23,154.24
S/. 5,034.00
S/. 43,619.04

15430.8
23154.24
5034

Valor residual
S/. 437,206.00
S/. 115,771.20
S/. 25,170.00
S/. 578,147.20

1.3.4. AMORTIZACIN DE INTANGIBLES


AMORTIZACION
Intangibles

S/.

0
1
70,747.00 S/.

2
14,149.40 S/.

Pgina 9

3
14,149.40 S/.

4
14,149.40 S/.

5
14,149.40 S/.

14,149.40

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

1.3.5. P&G ECONMICO

DESCRIPCIN
INGRESOS
COSTOS DE FABRICACIN
Materia prima
Suministros
Mano de Obra Directa
COSTOS DE OPERACIN
Gastos Administrativos
Depreciacin
Amortizacion
Utilidad bruta
Impuesto (30%)
Utilidad neta

1
2
S/. 2,574,000.00 S/. 2,726,020.00 S/.
S/. 1,418,037.33 S/. 1,414,079.33 S/.
S/. 514,800.00 S/. 495,640.00 S/.
S/. 257,400.00 S/. 272,602.00 S/.
S/. 645,837.33 S/. 645,837.33 S/.
S/. 242,680.44 S/. 242,680.44 S/.
S/. 184,912.00 S/. 184,912.00 S/.
S/.
43,619.04 S/.
43,619.04 S/.
S/.
14,149.40 S/.
14,149.40 S/.
S/. 913,282.23 S/. 1,069,260.23 S/.
S/. 273,984.67 S/. 320,778.07 S/.
S/. 639,297.56 S/. 748,482.16 S/.

3
2,877,930.00
1,456,890.33
523,260.00
287,793.00
645,837.33
242,680.44
184,912.00
43,619.04
14,149.40
1,178,359.23
353,507.77
824,851.46

S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.

4
3,029,840.00
1,499,701.33
550,880.00
302,984.00
645,837.33
242,680.44
184,912.00
43,619.04
14,149.40
1,287,458.23
386,237.47
901,220.76

S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.
S/.

5
3,181,750.00
1,542,512.33
578,500.00
318,175.00
645,837.33
242,680.44
184,912.00
43,619.04
14,149.40
1,396,557.23
418,967.17
977,590.06

1.3.6. CUADRO DE SEVICIO DE LA DEUDA (Prstamo bancario BBVA con tasa efectiva anual 18%)
Descripcin
Saldo
Amortizacin
Intereses
Escudo tributario
Financiamento Neto

0
1
2
S/. 1,386,795.76 S/. 1,109,436.61 S/. 832,077.46
S/. 277,359.15 S/. 277,359.15
S/. 249,623.24 S/. 199,698.59
S/.
74,886.97 S/.
59,909.58
S/. 1,386,795.76 S/. -452,095.42 S/. -417,148.16

Pgina 10

S/.
S/.
S/.
S/.
S/.

3
554,718.30
277,359.15
99,849.29
29,954.79
-347,253.66

S/.
S/.
S/.
S/.
S/.

4
277,359.15
277,359.15
66,566.20
19,969.86
-323,955.49

5
S/.
S/.
S/.
S/.
S/.

277,359.15
33,283.10
9,984.93
-300,657.32

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

1.3.7. P&G FINANCIERO


DESCRIPCIN
INGRESOS
COSTOS DE FABRICACIN
Materia prima
Insumos
Mano de Obra Directa
COSTOS DE OPERACIN
Gastos Administrativos
Depreciacin
Amortizacion
Interes Financireo
Utilidad bruta
Impuesto (30%)
Utilidad neta
AHORRO TRIBUTARIO

1
2
S/. 2,574,000.00 S/. 2,726,020.00 S/.
S/. 1,418,037.33 S/. 1,414,079.33 S/.
S/. 514,800.00 S/. 495,640.00 S/.
S/. 257,400.00 S/. 272,602.00 S/.
S/. 645,837.33 S/. 645,837.33 S/.
S/. 492,303.68 S/. 442,379.03 S/.
S/. 184,912.00 S/. 184,912.00 S/.
S/.
43,619.04 S/.
43,619.04 S/.
S/.
14,149.40 S/.
14,149.40 S/.
S/. 249,623.24 S/. 199,698.59 S/.
S/. 663,658.99 S/. 869,561.64 S/.
S/. 199,097.70 S/. 260,868.49 S/.
S/. 464,561.29 S/. 608,693.15 S/.

1
S/.

2
74,886.97 S/.

Pgina 11

59,909.58 S/.

3
2,877,930.00
1,456,890.33
523,260.00
287,793.00
645,837.33
342,529.73
184,912.00
43,619.04
14,149.40
99,849.29
1,078,509.93
323,552.98
754,956.95

4
5
S/. 3,029,840.00 S/. 3,181,750.00
S/. 1,499,701.33 S/. 1,542,512.33
S/. 550,880.00 S/. 578,500.00
S/. 302,984.00 S/. 318,175.00
S/. 645,837.33 S/. 645,837.33
S/. 309,246.64 S/. 275,963.54
S/. 184,912.00 S/. 184,912.00
S/.
43,619.04 S/.
43,619.04
S/.
14,149.40 S/.
14,149.40
S/.
66,566.20 S/.
33,283.10
S/. 1,220,892.03 S/. 1,363,274.13
S/. 366,267.61 S/. 408,982.24
S/. 854,624.42 S/. 954,291.89

3
29,954.79 S/.

4
19,969.86 S/.

5
9,984.93

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

1.4. Flujo de caja econmico y financiero

Flujo de efectivo
Utilidad neta
Inversiones
Depreciacin
Amortizacion
Variacion del capital de trabajo

1
S/.

2
639,297.56 S/.

S/.
43,619.04 S/.
S/.
14,149.40 S/.
S/. -154,440.00 S/.

748,482.16 S/.

3
824,851.46 S/.

4
901,220.76 S/.

5
977,590.06

43,619.04 S/.
14,149.40 S/.
-9,121.20 S/.

43,619.04 S/.
14,149.40 S/.
-9,114.60 S/.

43,619.04 S/.
14,149.40 S/.
-9,114.60 S/.

43,619.04
14,149.40
-9,114.60

S/. 3,466,989.40

Recuperacion de capital de trabajo


Valor residual
FLUJO DE CAJA ECONMICO
S/. -3,466,989.40 S/. 851,506.00 S/.
Financiamiento Neto
S/. 1,386,795.76 S/. -452,095.42 S/.
FLUJO DE CAJA FINANCIERO
S/. -2,080,193.64 S/. 399,410.58 S/.

Pgina 12

815,371.80 S/.
-417,148.16 S/.
398,223.63 S/.

S/. 190,905.00
S/. 578,147.20
891,734.50 S/. 968,103.80 S/. 1,813,525.30
-347,253.66 S/. -323,955.49 S/. -300,657.32
544,480.84 S/. 644,148.31 S/. 1,512,867.98

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

II.

EVALUACIN ECONMICA Y FINANCIERA

2.1. WACC del proyecto


La tasa de descuento (WACC) se define como el costo ponderado de las
distintas fuentes de capital (patrimonio y deuda).

= (
) + (1 ) (
)
+
+
Donde:

C: Capital de accionistas
D: Deuda
Ke: Costo de oportunidad de los accionistas (%)
Kd: Costo de la deuda (%)+
T: tasa de impuestos y participacin de trabajador

Se calcula el costo del capital accionario (Ke), usando el modelo del CAPM
con una modificacin de agregar el riesgo pas en Per.
= + ( ) +
Datos

Rf: Tasa libre de riesgo (3.44%)


: Beta apalancada de la empresa (se tiene que calcular)
: Retorno del mercado
: Costo de oportunidad o costo de capital accionario

Primero necesitamos calcular la Beta apalancada con la siguiente ecuacin:


= [1 + (1 ) ( )]
Donde:
: Beta no apalancada
T: Impuesto a la renta
D: Valor de la deuda del Proyecto
C: Valor de capital del Proyecto

Pgina 13

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

1. Para estimar la tasa libre de riesgo o rendimiento de bonos


estadounidenses usaremos los datos de:
Tabla 01: INDICADORES DE RIESGO PARA PASES EMERGENTES:
ndice de Bonos de Mercados Emergentes (EMBIG).
Fuente: Bloomberg y Reuters.
Rf: 2.3%
2. Para estimar el , usamos la data de Damodaran
(http://www.damodaran.com). El PROYECTO se encuentra en la
categora: Restaurante
= 0.71
3. Para Calcular la razn D/C.
= /. 1,386,795.76
= /. 2,080,193.64

= 66.666%

4. Calculamos el Beta apalancado para PROYECTO


= 0.99

= 66.66%

= 30%

= [1 + (1 ) ( )]
= . 71[1 + (1 0.30) (0.66666)]

= 1.04

Pgina 14

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

5. Calculamos el Costo de Oportunidad de los accionistas (Ke)


= + ( ) +
Estimamos la prima por riesgo de Mercado ( ) de La fuente
de Damodaran (http://www.damodaran.com)
( ) = 7.55%
Estimamos el riesgo pas de la Tabla 01: INDICADORES DE RIESGO
PARA PASES EMERGENTES: ndice de Bonos de Mercados
Emergentes (EMBIG).
Fuente: Bloomberg y Reuters.
= 2.34%

Luego:
= 0.022 + 1.21(0.0755) + 0.0234
= 13.6755%
6. Calculamos el Costo de la Deuda (Kd)
La tasa de inters del prstamo del BBVA es:
= 18%
7. Calculamos el WACC
= /. 1,386,795.76
= /. 2,080,193.64

= (
) + (1 ) (
)
+
+
2,080,193.64
)
2,080,193.64 + 1,386,795.76
1,386,795.76
+ (18%)(1 0.30) (
)
2,080,193.64 + 1,386,795.76

= (13.6755%) (

= . %

Pgina 15

RESTAURANTE TURSTICO VIVENCIAL QU RICO PER

2.2. Indicadores financieros


WACC = 13.25%
Ke = 13.6755%
INDICADOR
Econmico
Financiero

III.

VAN
TIR
S/. 85,287.30
S/. 116,806.57

14.26%
15.75%

CONCLUSIN
3.1.

En el estudio de la evaluacin econmica y financiera se observa


que el proyecto es viable ya que el Valor Actual Neto Econmico
(VANE) es igual a S/. 85,287.30 con una Tasa Interna de Retorno de
14.26%. Asimismo el Valor Actual Neto Financiero (VANF) es igual a
S/. 116,806.57con una Tasa Interna de Retorno de 15.75%.

Pgina 16

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