Financing Plan B

V. Financing and Accounting
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for Chefs Not For Real
A. Turn-Key Costs

The building we are leasing from Chefed International must be renovated prior to the Grand Opening of the restaurant. All contents presently in the building will have to be replaced with new appliances, plumbing, furniture and fixtures, flooring, and all other miscellaneous equipment. We are approximating that the renovation costs will be as follows:

Ø Building Improvements (exterior and interior) $100,000
Ø Furniture and Fixtures $95,000
Ø Equipment and Appliances $85,000
Ø Initial Food Supplies $4,000
Ø Initial Non-Food Supplies $1,500
Ø Deposits (Utilities, Telephone, Lease) $2,000
Ø Permits and Licenses $1,000
Ø Insurance Deposits and Premiums $2,000
Ø Legal and Accounting $1,500
Ø Printing (Menus, Stationary) $700
Ø Initial Marketing (Advertisement, Promotions, etc) $15,000
Ø Working Capital (three months) $50,000
Ø Miscellaneous (approx. 2% of turn-key costs) $5,300
$369,300

Ø Building Improvements will include:
Ø Remodeling of the interior and exterior walls.
Ø New floors throughout the building.
Ø Remodeling of dining room from bar to restaurant setting.
Ø Add exterior dining area.
Ø Resurface existing parking area and add new parking area.

Ø Furniture and Fixtures will include:
Ø 30 Dining Tables and 100 seats
Ø Outside “Tiki Bar”
Ø 12 Outside Dining Tables and 50 Chairs
Ø Indoor and Outdoor Ceiling Fans
Ø Lights
Ø Hostess Station
Ø Benches to accommodate customers during a wait.
Ø 2 Waiters Stations

Ø Equipment List:
Ø 2 2ft. gas grills with wood trays
Ø 1 Dishwasher with cleaning sink, wash & drain table
Ø 2 60” double door reach in coolers
Ø 1 60” double door reach in freezers
Ø 1 Walk-in Cooler
Ø 1 Walk-in Freezer
Ø 1 Ice Machine
Ø 1 Soft Drink Machine (from coca-cola)
Ø 1 Commercial Food Slicer
Ø 4 Microwave Ovens
Ø 2 60lb. Deep Fryers
Ø 1 Robot Coupe Processor
Ø 4 Stainless steel food preparation tables
Ø 1 Griddle
Ø 1 Salamander
Ø 1 Convection Oven
Ø 1 6 quart Industrial Kitchen Aide Mixer with all attachments
Ø 1 Food Warmer
Ø 1 Bread Warmer
Ø 1 Triple basin sink
Ø 3 Stainless steel food carts
Ø 1 vacuum cleaner
Ø 3 Instant Read thermometer knives
Ø 3 Sets of chefs knives
Ø 1 Set of Commercial Pots & Pans (25 piece set)
Ø 1 20 gal pot with basket & burner
Ø 2 Hand sinks
Ø 2 Iced tea makers with 4 extra urns
Ø 3 Commercial Coffee Makers
Ø 1 vent hood system
Ø 1 Plate warmer
Ø 2 stock pots with lids
Ø 4 Portion scales
Ø 6 Measuring cups
Ø Table Linens
Ø Silverware and Serving ware
Ø The Three Months Working Capital will pay for:
Ø Rent Payments
Ø Supplier Advances
Ø Initial Food & Non-Food Supplies
Ø Deposits (Utilities, Telephone, Lease)
Ø Permits and Licenses
Ø Insurance Deposits and Premiums
Ø Initial Legal and Accounting work
Ø Printing of Menus & Stationary
Ø Pre-opening Advertising & Marketing