REVENUE FORMULA FOR COUNTRY HOUSE (2010)

Working Space Restaurant Chec Bar Check COGS

Avg. drink 14 Avg. drink pr 16 Restaurant
Avg. rest. 56 Avg. bar plat 0 Bar
Avg. rest. 70 Avg. bar che 16
Rest.
Rest. Rest. T.O.
T.O. Rest. T.O. T.O. 12
12 - 6 6 - 10 10 - pm - 2
# of Rest. Seatspm pm 2 am am
159 180 260 100 540

Bar Bar T.O.

Bar T.O. Bar T.O. T.O.
12 6 - 10 10 - 12 pm -
# of Bar Seats - 6 pm pm 2 am 2 am
220 80 200 220 500

TOTAL CUSTOMER TURNOVER/ DAY (REST.) 540

TOTAL CUSTOMER TURNOVER/ DAY (BAR) 500

WEEKLY REST SALES SCHEDULE Total

Sales/
Mon Tues Wed Thurs Fri Sat Sun Week
May N/A 324 351 378 432 540 486 2,511
% Change -0.4 -0.35 -0.3 -0.2 0 -0.1

June N/A 378 405 459 540 648 594 3,024

% Change -0.3 -0.25 -0.15 0 0.2 0.1

July N/A 432 513 648 702 756 675 3,726

% Change -0.2 -0.05 0.2 0.3 0.4 0.25

August N/A 540 594 675 756 729 702 3,996

% Change 0 0.1 0.25 0.4 0.35 0.3

Sept N/A 459 486 486 459 648 621 3,159

% Change -0.15 -0.1 -0.1 -0.15 0.2 0.15

October N/A 405 378 432 405 594 486 2,700

% Change -0.25 -0.3 -0.2 -0.25 0.1 -0.1

November N/A 270 324 324 351 378 378 2,025

% Change -0.5 -0.4 -0.4 -0.35 -0.3 -0.3
WEEKLY BAR SALES SCHEDULE Total
Sales/
Mon Tues Wed Thurs Fri Sat Sun Week
May N/A 300 350 400 450 500 450 2,450
% Change -0.4 -0.3 -0.2 -0.1 0 -0.1

June N/A 350 400 425 500 600 550 2,825

% Change -0.3 -0.2 -0.15 0 0.2 0.1

July N/A 450 550 575 600 625 600 3,400

% Change -0.1 0.1 0.15 0.2 0.25 0.2

August N/A 550 575 600 625 650 625 3,625

% Change 0.1 0.15 0.2 0.25 0.3 0.25

Sept N/A 425 450 475 500 550 575 2,975

% Change -0.15 -0.1 -0.05 0 0.1 0.15

October N/A 300 350 375 400 450 425 2,300

% Change -0.4 -0.3 -0.25 -0.2 -0.1 -0.15

November N/A 250 300 300 325 350 325 1,850

% Change -0.5 -0.4 -0.4 -0.35 -0.3 -0.35

ANNUAL BAR PROJECTION MODEL

I. Conservative Bar Annual Revenue
II. MID Liquor
III. Aggressive Food

ANNUAL BAR PROJECTION MODEL

I. Conservative Rest. Annual Revenue
II. MID Liquor
III. Aggressive Food

ANNUAL TOTAL RESTAURANT + BAR REVENUE

COSTS OF GOODS SOLD

ITEM
 0.36
0.18

Avg.
Covers/ Price/ Weekly Covers/
Week Seating Sales Month
TOTAL SALES/ WEEK (REST.) MAY 2,511 70 175,770 10,044
TOTAL SALES/ WEEK (REST.) JUNE 3,024 70 211,680 12,096
TOTAL SALES/ WEEK (REST.) JULY 3,726 70 260,820 14,904
TOTAL SALES/ WEEK (REST.) AUGUST 3,996 70 279,720 15,984
TOTAL SALES/ WEEK (REST.) SEPT 3,159 70 221,130 12,636
TOTAL SALES/ WEEK (REST.) OCT 2,700 61 164,700 10,800
TOTAL SALES/ WEEK (REST.) NOV 2,025 55 111,375 8,100
21,141 1,425,195 84,564

Avg.
Price/ Weekly Covers/
Seating Sales Month
TOTAL SALES/ WEEK (BAR) MAY 2,450 16 39,200 9,800
TOTAL SALES/ WEEK (BAR) JUNE 2,825 16 45,200 11,300
TOTAL SALES/ WEEK (BAR) JULY 3,400 16 54,400 13,600
TOTAL SALES/ WEEK (BAR) AUGUST 3,625 16 58,000 14,500
TOTAL SALES/ WEEK (BAR) SEPT 2,975 16 47,600 11,900
TOTAL SALES/ WEEK (BAR) OCT 2,300 14 32,200 9,200
TOTAL SALES/ WEEK (BAR) NOV 1,850 12 22,200 7,400
19,425 298,800 77,700
Monthly Meal 12,080.57 84,564
12

Annualized 144,966.86
Monthly
Sales Adjustment Adj. Monthly SalesCOGS
703,080 ### 175,770.00 63,277.20
846,720 846,720.00 304,819.20
1,043,280 1,043,280.00 375,580.80
1,118,880 1,118,880.00 402,796.80
884,520 884,520.00 318,427.20
658,800 658,800.00 237,168.00
445,500 445,500.00 160,380.00
5,700,780 (527,310) 5,173,470 1,862,449

Monthly
Sales Adjustment Adj. Monthly Sales
156,800 ### 39,200.00 7,056.00
180,800 180,800.00 32,544.00
217,600 217,600.00 39,168.00
232,000 232,000.00 41,760.00
190,400 190,400.00 34,272.00
128,800 128,800.00 23,184.00
88,800 88,800.00 15,984.00
1,195,200 (117,600) 1,077,600 193,968

6,895,980 (644,910) 6,251,070 2,056,417

Restaurant Comps
Rank Restaurant Location 08 Sales Avg. dinnerMeals serve Seats
20 21' Club New York Cit 17,324,066 144 138,790 150
34 Balthazar New York Cit 15,000,000 60 250,000 205
45 Del Posto New York Cit 14,000,000 125 112,000 175
53 Morimoto New York Cit 12,926,891 95 115,021 199
58 Juniors (TimeNew York Cit 12,600,000 15.5 770,000 218
75 Asia de Cuba New York Cit 11,800,000 66 197,000 170
76 Gotham Bar &New York Cit 11,800,000 95 153,000 175
78 Bryant Park Gr
New York Cit 11,800,000 48 252,000 180
81 Quality MeatsNew York Cit 11,537,000 93 124,000 138
88 China Grill New York Cit 11,300,000 67 210,000 185
89 Megu New York Cit 11,300,000 94 84,000 205
99 Maloney & PorNew York Cit 11,080,000 86 135,000 200
Average (annual) 12,705,663 82 211,734 183
Daily 580
Sq. Ft.
N/A
N/A
13,000
N/A
N/A
N/A
5,000
25,000
25,000
N/A
N/A
N/A
 Annualized 2010 2011 2012 2013
Managing Partners 70000

Executive Chef 80000 65000

General Manager 50000 40000

Director of Finance 40000 40000

Director of Operations 40000 35000
Director of Sales
Promotions Director 40000 35000

ob Title
2004
2005
2006
2007
2008
% Change from 2007
Chef/Owner
-
-
-
$94,288
$85,179
down 9.7%
Executive Chef
$74,696
$75,596
$73,260
$77,611
$74,869
down 3.5%
Chef de Cuisine
-
$57,890
$60,993
$59,896
$56,367
down 5.9%
Sous Chef
$39,275
$39,305
$40,375
$42,104
 $44,205
up 4.8%
Line Cook (hourly)
$11.20
$12.64
$12.40
$13.07
$12.90
down 1.3%
Pastry Chef*
$47,865
$50,581
$48,818
$53,017
$46,228
down 12.8%
2014
Personnel Expense
Peak Non-
Average Average Expens Peak
Personnel Salary Hours Peak e Non-Peak Expense

Sous Chef 15 12 1 180 1 180

Line Cook 12 12 3 432 2 288
Prep Cook 10 12 3 360 2 240
Waiter 5 10 12 600 7 350
Bartender 8 10 7 560 4 320
Bussers 8 10 5 400 2 160
Cleaners 8 10 4 320 3 240
Total 2,852 1,778

Monthly
Personnel
Month Category Expense
May Non-Peak 53,340
June Peak 85,560
July Peak 85,560
August Peak 85,560
September Non-Peak 53,340
October Base 22,920
November Base 22,920
409,200
Base Base
Operation Expense

0 0
1 144
1 120
2 100
2 160
1 80
2 160
764
PRE-OPERATING EXPENSES

LEASE ACQUISTION
Security Deposit 62,400
Cost of Lease 100,000
Total Lease Costs 162,400

GENERAL
Six Months Rent 124,800
Marketing 40,000
Public Relations 36,000
Insurance Deposit 15,000
Liquor License 5,000
Legal Fees 10,000
Health Department Permits 1,500
Uniforms 6,500
Beer, Wine & Liquor Inventory 50,640
Food Inventory 464,940
Printing 5,000
Utilities Deposit 5,750
Three Months Utilities Bills 15,750
Working Capital 1,326,220
Miscellaneous 50,000
Total Pre-Opening Cost 2,157,100

LEASE IMPROVEMENTS
Construction, Materials & Finishing 25,000
Plumbing, Electrician & HVAC 25,000
Total Lease Improvements 50,000

EQUIPMENT & FIXTURES

Updated Kitchen Equipment 27,500
Exterior Signage 2,500
Bar 3,500
Sound System 7,500
Security System 4,500
Micros Point of Sale system(POS) 15,000
Wiring (Internet,Phone,Micros) 5,000
Telephone 5,000
Furniture & Fixures (FF&E) 45,000
Glassware, Dishes, Utensils 15,000
Total Equipment & Fixtures 130,500

GRAND TOTAL 2,500,000

 2010
      35.00% - Cost of goods sold (food) 0.35 May Adjustment
      17.00% - Employee payroll. 0.17 Cost of Liquor Sold
      00.25% - Credit card charges. 0.0025
      00.33% - Marketing fees. 0.0033
      2.00% - Management fees. 0.02
      2.00% - Advertising. 0.02
      2.00% - Management bonus. 0.02
      3.03% - Employee payroll taxes and benefits.
0.0303
      1.50% - Paper and cleaning. 0.015
      63.11% - Total variable costs. 0.6311

8.6 Business Ratios

Ratio Analysis
Industry
Year 1 Year 2 Year 3 Profile
Sales
Growth 0.00% 15.00% 15.00% 0.00%
Percent of
Total
Assets
Other
Current
Assets 0.00% 0.00% 0.00% 100.00%
Total
Current
Assets 100.00% 100.00% 100.00% 100.00%
Long-term
Assets 0.00% 0.00% 0.00% 0.00%
Assets 100.00% 100.00% 100.00% 100.00%

Current
Liabilities 9.55% 13.92% 10.96% 0.00%
Long-term
Liabilities 79.69% 41.51% 23.30% 0.00%
Total
Liabilities 89.23% 55.43% 34.26% 0.00%
Net Worth 10.77% 44.57% 65.74% 100.00%

Percent of
Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross
Margin 67.00% 67.00% 67.00% 0.00%
Selling,
General &
Administrat
ive
Expenses 64.07% 66.34% 63.47% 0.00%
Advertising
Expenses 1.98% 2.31% 2.05% 0.00%
Profit
Before
Interest
and Taxes 27.43% 24.02% 27.68% 0.00%

Main Ratios
Current 10.47 7.18 9.13 0
Quick 10.47 7.18 9.13 0
Total Debt
to Total
Assets 89.23% 55.43% 34.26% 0.00%
Pre-tax
Return on
Net Worth 1027.28% 152.23% 94.42% 0.00%
Pre-tax
Return on
Assets 110.61% 67.85% 62.07% 0.00%

Additional
Ratios Year 1 Year 2 Year 3
Net Profit
Margin 17.07% 14.92% 17.60% n.a
Return on
Equity 673.50% 98.95% 61.77% n.a

Activity
Ratios
Accounts
Payable
Turnover 25.75 12.17 12.17 n.a
Payment
Days 27 21 28 n.a
Total Asset
Turnover 4.25 2.96 2.31 n.a

Debt Ratios
Debt to Net
Worth 8.29 1.24 0.52 n.a
Current
Liab. to
Liab. 0.11 0.25 0.32 n.a

Liquidity
Ratios
Net
Working
Capital $200,973 $316,147 $481,668 n.a
Interest
Coverage 19.7 22.61 35.45 n.a

Additional
Ratios
Assets to
Sales 0.24 0.34 0.43 n.a
Current
Debt/Total
Assets 10% 14% 11% n.a
Acid Test 10.47 7.18 9.13 n.a
Sales/Net
Worth 39.45 6.63 3.51 n.a
Dividend
Payout 0.14 0.14 0.13 n.a
 -0.75
Liquor Sold