Академический Документы
Профессиональный Документы
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The undersigned reader acknowledges that the information provided in this business plan
is confidential; therefore, the reader agrees not to disclose it without the express written
permission of MenuList, LLC, Brian Clay or Todd Feuerherm.
It is acknowledged by the reader that information furnished in this business plan is in all
respects confidential in nature, other than information which is in the public domain
through other means and that any disclosure or use of same by reader, and may cause
serious harm or damage to aforementioned parties.
This business plan is not to be copied or reproduced by any means without the sole
written consent of an authorized agent of MenuList, LLC.
__________________________________ _______________
Signature Date
_______________________________
Name (typed or printed)
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Table of Contents
Executive Summary
The purpose of this business plan is to examine the allocation of $200,000 and to plan for
the development of an internet content site that is designed for restaurant owners and
people interest in food to use as a platform for showcasing and learning about new and
domain name MenuList.com) is a business devoted to creating a unique high traffic
website that restaurant owners to place personalized profiles of their business for users to
search. The Company was founded in 2008 by Brian Clay & Todd Feuerherm.
Brian Clay, the Founder of MenuList, LLC, is a manager that is dedicated to developing a
business that provides a community forum for millions of people interested in food and
restaurants across the United States and abroad. Mr. Scott is also committed to
developing an expansive platform for restaurant owners that will allow them to
effectively market their businesses on a local, regional, and national level. The primary
mission is to create a worldly awareness that sustainability. The food and beverage
industry His biography can be found in the fourth section of the business plan.
The Services
As stated above, MenuList is an interactive website for restaurant owners and users.
Restaurant owners will be able to develop their own personal profile (for a monthly fee)
that can potentially be seen by several thousand restaurant and food enthusiasts. Users
(consumers) of the MenuList website will be able to search through local restaurants,
read reviews, and learn about food and restaurants.
The business will also receive a significant amount of revenue from the sale of static and
dynamic advertisements placed on the website. Currently, Menulist is developing a
simple platform allowing establishments the ability to create and maintain a Homepage
that allows users to access menus, flyers, and coupons all stored in the secure .pdf format
(Adobe Reader). By converting all the digital files to .pdf format which will allow
establishments to easily maintain and manage their information. This will help guarantee
product and price accuracy. Our website will also include a number a tools that will help
each establishment create an effective paperless marketing campaign for each individual
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establishment. Our clients will have access to a real time reservation monitoring utility, a
catering bid portal, and the ability to order food directly from the restaurant of their
choice (given local delivery parameters), which could potentially yield an expansive and
highly predictable revenue base for the business.
The services offered by the Company will be further discussed in the third section of the
business plan.
The Offer
Sales Forecasts
The Company expects an exceptional rate of growth after the business commences
operations. Below is a chart that forecasts the expecting operating expenses and profits
for the next five years of operation.
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$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000 Sales
$1,500,000 Total Operating Costs
$1,000,000 Net Profit
$500,000
$0
2009 2010 2011 2012 2013
Year
The Future
As time progresses, MenuList will continually seek to expand its marketing and
technological infrastructures by developing and implementing new marketing plans,
expanding the server/bandwidth capacity of the business, and by constantly integrating
new concepts, functionality, articles, and features into the MenuList.com website. As will
be discussed in the fifth section of the business plan, the Company must continually keep
its content fresh in order to remain competitive in the market.
The Financing
A total capital investment of $200,000 is sought from an investor that has experience in
the Internet and web services industry. The investment will be used for the following:
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Use of Funds
Web Development
5% 3% 3% 13%
Marketing Budget
20% Working Capital
Technology Assets
Initial Payroll (3 Months)
27%
Professional Fees
5%
FF&E
24%
Miscellaneous Startup Costs
The investor will receive a 25% to 40% ownership interest in the Company. Dividends
and other capital disbursements may be made during this time at the discretion of the
board of directors.
The current owner(s) and founder(s) of the Company, Brian Clay and Todd Feuerherm,
currently controls a 100% interest in the firm. After the requisite capital is raised, Mr.
Scott and Mr. Todd will control a 60% to 75% ownership interest.
• Investor (1 Seat)
• Current Principals (1 Seat)
• Independent Chairperson (1 Seat)
The Management has planned for two possible exit strategies. The first strategy would be
to sell the Company to a larger entity at a significant premium. Since, the Internet
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communications and service industry maintains a very low risk profile once the business
is established; the Management feels that MenuList, LLC could be sold for ten to fifteen
times earnings.
The second exit scenario would involve the use of a private placement memorandum to
raise capital from additional private sources. This is also a significantly expensive process
that requires the assistance of both an experienced securities law firm and an investment
bank. Funds would be raised from private equity and merchant banking sources in
exchange for a percentage of the Company’s stock. The Owners would receive a portion
of this capital as payment for sale of the appreciated value of the business.
MenuList Operations
Below is a brief summary of benefits offered to both the consumer and the restaurant
owner of MenuList.com.
Consumer
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MenuList, LLC
• Search for employment opportunities and upload resume
MenuList.com will offer a majority of its services through the sale of profiles for
restaurants. Each business user (restaurant owner) will receive the following for the
purchase of their membership:
Currently, the Company is seeking to develop a platform from which users can use as a
educational resource to create a sense of awareness within the food and beverage industry
regarding the industry’s impact on the environment. Our primary goal is to be order food
for deliver directly from the MenuList.com website. This aspect of the business has the
potential to become enormous as the business would receive a percentage of the gross
sales from each order. This concept is not new, and companies like Delivery.com have
already capitalized on developing an ordering platform for local restaurants. As the
business expands its content, Management fully intends on developing and implementing
this type of interface into the Company’s operations.
The specific pricing of these services will be discussed in detail in Chapter 7 of the
business plan.
The Company will offer restaurant owners and other advertisers the ability to purchase
advertising space on specified areas of our website. However, Management will ensure
that the sponsored profiles purchased by users and the advertising purchased by other
businesses will be tastefully and will not distract from the overall content of the business.
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Premium priced subscriptions will allow businesses to have rotational front page
“spotlight” access to further increase traffic to their specific listing.
The Company plans to commence operations in the middle 2008 after the completion of
MenuList online platform.
Through the diverse areas of expertise and knowledge, the owners of the Company hope
to build a business platform that will achieve $1,500,000 dollars of EBITDA by the fifth
year of operations.
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• Develop strong relationships with subscribing restaurant owners (clients),
consumers and food service staff (Members) so that the business generates a
recurring stream of revenue for the business.
• Create, market, and manage a Company that delivers quality earnings regardless
of the general direction of the economy.
• Develop high impact marketing campaigns that will inform the general public of
MenuList.com
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MenuList, LLC
Strategic Analysis
The business of Internet content and subscription services is a complex business that has
moderately difficult operations to manage. This section of analysis will detail the overall
economic climate, interest rate environment, and a brief description of each industry that
MenuList will target as a potential source of membership and advertising revenue.
Typically, online media content is immune from general changes in the economy, and if
people continue to go to the website, the business will consistently be able to sell
advertising space. As such, much of the following market analysis is geared towards the
entry plan of the business and the expansion of its customer base. Currently, the general
economic outlook for the United States is moderate, and the valuations of Internet
companies that provide interactive online content has significantly increased over the last
two years as business buyers are regularly seeking to acquire websites that provide
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MenuList, LLC
predictable and recurring streams of revenue from the ongoing sale of memberships and
advertising content.
This rest of this analysis will document the Internet content and advertising industry at
large, and will provide an overview of the average MenuList.com user along with a
competitive analysis.
Below is an overview of the industries that the Company will operate within during the
course of its business operations.
Restaurant Industry
There are over 600,000 restaurants and eateries in the United States. Gross annual
receipts total more than $172 billion dollars per year. It is one of the country’s largest
grossing industries. The industry also employs over ten million people, and generates an
average annual payroll of more than $34 billion dollars per year.
As the country has become significantly wealthier of the last ten years, more and more
Americans are eating out. Time has also become a concern for the average American
family. Studies have shown that more than 40% of American families eat out at least one
night per week. Americans, on the whole, have also become much busier. More and more
families now have two incomes, and as such, the tradition of staying at home and cooking
meals is vanishing. As such, the number of new restaurants within the market has
increased steadily over the last ten years. This upward trend will provide MenuList with a
continuously larger market from which to acquire new customers.
The advertising industry is one of America’s largest service providers in the economy. In
the United States, there are over 13,000 firms providing advertising and marketing
services. The industry generates over $160 billion dollars of revenue each year.
Additionally, over 200,000 people are employed throughout the industry, which generates
average annual payrolls of $75 billion dollars.
One of the most interesting aspects of the advertising industry is the ability to develop
simultaneous traditional and experimental forms of advertising. The advent of the
Internet has allowed businesses to communicate effectively with a number of advertising
businesses that provide specialized marketing activities. Many sites are now developing
businesses around the concept of providing entertainment content in order to generate
advertising revenues.
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MenuList, LLC
According to PriceWaterhouseCoopers 2007 report on aggregate internet marketing
budget statistics, it is anticipated that internet marketing expenditures in the US will reach
$7 billion dollars by 2009. Currently, internet marketing is a $5 billion dollar per year
industry. Approximately 80% of this revenue is from keyword search advertising with the
remainder of the revenue generated from rich media, banners, classifieds, sponsorships,
referrals, and email advertisements. The growth rate of the industry over the last five
years has been well over 40% per year and this trend is expected to continue and then
level off over the next five years.
Online subscription businesses have become a very integral part of the e-commerce
industry. With the vast availability of Internet access, many businesses are now seeking to
generate a recurring stream of income by licensing software and content for a monthly or
yearly fee. Many Internet studies have shown that the adult entertainment industry is
actually responsible for a significant amount of e-commerce development, including the
online subscription model. This is in addition to the technology developed by these firms
to manage monthly online subscriptions. Approximately 15% of all e-commerce
transactions (or $15 billion dollars annually) are directed toward online subscription and
listings based websites. This number includes transactions for companies that offer
subscriptions to an ongoing service.
Management expects that the e-commerce industry will grow steadily as more people
obtain high speed internet access.
There are three target users of MenuList: restaurant owners/management, food service
members, and consumers. The first group (restaurant owners) are the actual customers of
MenuList. They will want to enroll in the Company’s service as their online marketing
firm who will help create a HOMEPAGE for advertising their restaurant. Among this
target demographic, Management has outlined the following demographics:
As stated above, there are more than 600,000 restaurants in the United States, and as
such, Management will have the ability to market its services to a diverse and expansive
audience. The seventh section of the business plan will further document how the owners
intend to promote MenuList among its target audience.
The second demographic profile of MenuList users are the Food Service Members.
MenuList has created a referral tracking system allowing individual establishments as
well as MenuList management to conduct contests for Consumers and Food Servers on
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local and national levels. This platform alone will create a new marketing approach, our
site will be the first site to enlist the help of each individual server.
The third demographic profile of MenuList users are the patrons that will use the website
to find restaurants. Among this group, the company has outlined the following
demographics of the “average” MenuList consumer:
• Male or Female
• Between the ages of 25 and 60
• Annual household income of $20,000+
• Lives within 50 miles of a major metropolitan area
Among this demographic, there are approximately 30 million people living in the United
States that could become potential users of the MenuList website.
5.4 Competition
There are several operators that provide similar services as MenuList.com. The market
for this type of business is extremely large, and it has the capacity to reach millions of
small and medium sized businesses. The businesses below offer some of the services that
the Company plans on offering:
One of the recurring themes for web businesses is that companies (like MenuList.com)
will continually need to integrate new technology and content into the website in order to
retain a competitive advantage. The use of web technology has become extremely
prevalent over the last seven years, and as such, websites and their content have become
commoditized in the open market. It is imperative that Management continually develop
innovative and content rich media so that the business can continually drive new traffic.
The Company will be able to maintain successful business operations because of the
following:
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• The sale of a service that will offer its customers the ability to run their restaurants
more efficiently both in time expenditures and financial expenditures in regard to
their marketing campaigns.
• The ability to create a synergy among the website services offered by the
Company so that a restaurant can easily promote traffic to their facilities in an
easy to use online setting.
• The ability to provide restaurants with “green” solutions for reducing their paper
marketing expenditures as well to educate establishments on “Green Conservetion
Practices” through the Company’s online platform.
• The successful marketing and growth of MenuList’s core web based business
marketing solutions for restaurants.
• Successful expansion of the marketing and service programs into several different
forms of media.
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Marketing Plan
• Build a large referral network through restaurants t and their service staff and the
Company’s online marketing campaigns.
• Establish connections with online based advertising agencies and marketing firms.
• Develop a strong Internet based marketing campaign that will target restaurants
that are seeking to develop an Internet presence.
Gross Profit
Year 2009 2010 2011 2012 2013
Total $375,998 $730,788 $1,269,050 $2,093,933 $3,140,899
Yearly Sales
$2,500,000
$2,000,000
2009
$1,500,000 2010
$1,000,000 2011
$500,000 2012
$0 2013
MenuWorx Subscription Online Ordering Fees Online Advertising Fees Misc. Income
Sales
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Year 1
• The Company will aggressively pursue its restaurant membership sales program,
and Management expects to have full business operations in effect starting in
early 2009.
• MenuList expects to achieve sales of $420,000 dollars within the first year.
Year 2
• Management anticipates that it will expand its marketing operations two fold to
further increase consumer and restaurant management traffic to the website.
• Expected sales will reach $815,000 dollars.
• Gross margins from sales will reach $730,000.
Years 3-5
• MenuList.com will achieve $3.1 million of gross profits and $3.5 million of
revenue by the end of the fifth year of operations.
• The business will operate restaurant profits and business listings in all major
metropolitan markets within the United States and eventually the world.
MenuList intends to use an online based marketing campaign to develop its membership
sales. Primarily, the Company will use search engine optimization techniques that will
increase the Company’s visibility when selected key words are used among major search
engines. For instance, when a person does a Google search for restaurants, the Company
will appear on the first page of the search. This strategy is technically complicated, and
the Company will use a search engine optimization firm to develop the Company’s
visibility on a non-paid basis. Management expects that a SEO firm will place large
amounts of linking data and text specific keywords into the business’s website, which
will allow the Company to appear more frequently among search engines. A majority of
web portal and search engine companies use very complicated algorithms to determine a
website’s relevance in relation to a specific keyword. SEO firms place text and tags on
the website to increase the rank of a specific website.
Additionally, www.menulist.com will use several pay methods for increasing the
Company’s visibility. This strategy is expensive, but the results can be phenomenal if this
marketing strategy is properly executed. These advertisements appear along the border
and side of a website, and each time a person clicks on the website, a small fee ranging
from fifty cents to one dollar is charged to MenuList’s account. An SEO firm will also
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manage this aspect of the Company’s marketing operation. Management expects that
these costs will reach approximately $10,000 per year towards the end of the first year,
with initial marketing expenses costing $5,000 for search engine optimization and the
initial advertising budget.
MenuList.com intends to market its internet platform as an expansive site that showcases
hundreds of thousands of restaurants. The site will also feature content rich applications
such as a community forum, restaurant review center, and other interactive content that
will drive consumers and servers to the website on a regular basis. Among restaurant
owners and management, the site will act as a gateway for generating local, regional, and
national level interest in their restaurant(s). Among these users, the Company will focus
on the low cost service coupled with the high visibility that the business will receive from
potential customers. The Company will also focus its marketing messages towards
providing restaurants with a “green” alternative in regards to marketing their locations to
the general public.
7.5.1 Price
Consumers
Restaurant Owners
• Base cost for services is $24.95 per month for primary location each additional
location will cost and additional $14.95 per month.
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Advertising and Special Placement Fees
• The content on the MenuList.com website price will be based upon individual
advertisement placed on site.
7.5.2 Distribution
All services and membership sales will be rendered through the Company’s website,
www.menulist.com
Organizational Plan
Board of Directors
Senior Management
Online Marketing
Technology Investor Relations
Management
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Advertising Executives $35,000 $36,050 $74,263 $76,491 $118,178
Administrative $20,000 $20,600 $21,218 $43,709 $45,020
Accounting $35,000 $36,050 $74,263 $76,491 $78,786
Total $168,000 $173,040 $252,494 $281,924 $361,288
Numbers of Personnel
Year 2009 2010 2011 2012 2013
Senior Management 1 1 1 1 1
Webmaster 1 1 1 1 2
Advertising Executives 1 1 2 2 3
Administrative 1 1 1 2 2
Accounting 1 1 2 2 2
Totals 5 5 7 8 10
8.2 Organizational Budget (Cont.)
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Financial Plan
The Company has based its proforma financial statements on the following:
• MenuList, LLC anticipates that its growth rate will be 138% per year.
• Management will solicit $200,000 of financing to develop and promote the
business in early 2009.
• The Company shall settle all short term payables at the end of each month.
• The business will generate recurring streams of revenue from the sale of
advertising space, restaurant profiles, business listings, and ordering management.
The Company’s revenues are somewhat sensitive to the overall condition of the economy.
This business is devised to create a recurring stream of revenue through the sales of
memberships as well as sponsored profile spaces embedded on the website. In the event
of a severe economic recession, Management expects that MenuList will face certain
drawbacks on both top line revenue numbers and bottom line profitability. However, this
scenario would require a severe drop in overall economic productivity before clients
begin to close their subscription accounts.
Financing
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Equity Financiers
Investor(s) $200,000.00
Expenses
Payroll $168,000 $173,040 $252,494 $281,924 $361,288
General and Administrative $46,225 $89,705 $155,712 $256,925 $385,387
Marketing Expenses $37,820 $73,395 $127,401 $210,211 $315,317
Professional Fees and Contract Labor $21,011 $40,775 $70,778 $116,784 $175,176
Insurance Costs $8,405 $8,155 $14,156 $23,357 $35,035
Communication and Tech. Costs $24,373 $23,650 $41,051 $67,735 $101,602
Office Expenses $5,673 $11,009 $19,110 $31,532 $47,297
Miscellaneous Costs $12,607 $24,465 $42,467 $70,070 $105,106
Payroll Taxes $25,200 $25,956 $37,874 $42,289 $54,193
Total Operating Costs $349,314 $470,150 $761,043 $1,100,825 $1,580,401
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$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000 Sales
$1,500,000 Total Operating Costs
$1,000,000 Net Profit
$500,000
$0
2009 2010 2011 2012 2013
Year
Expenses
Payroll 39.98% 21.22% 17.84% 12.07% 10.31%
General and Administrative 11.00% 11.00% 11.00% 11.00% 11.00%
Marketing Expenses 9.00% 9.00% 9.00% 9.00% 9.00%
Professional Fees and Contract Labor 5.00% 5.00% 5.00% 5.00% 5.00%
Insurance Costs 2.00% 1.00% 1.00% 1.00% 1.00%
Communication and Tech. Costs 5.80% 2.90% 2.90% 2.90% 2.90%
Office Expenses 1.35% 1.35% 1.35% 1.35% 1.35%
Miscellaneous Costs 3.00% 3.00% 3.00% 3.00% 3.00%
Payroll Taxes 6.00% 3.18% 2.68% 1.81% 1.55%
Total Operating Costs 83.13% 57.65% 53.76% 47.13% 45.11%
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Cash Outflows
Repayment of Principal $0 $0 $0 $0 $0
A/P Decreases $37,500 $45,000 $54,000 $64,800 $77,760
A/R Increases $0 $0 $0 $0 $0
Asset Purchases $55,000 $32,319 $62,993 $123,145 $193,502
Dividends $0 $116,349 $226,774 $443,323 $696,606
Total Cash Outflows $92,500 $193,668 $343,767 $631,268 $967,868
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$1,200,000
$1,000,000
$800,000
$600,000 Total Cash Inflow
$400,000 Total Cash Outflows
$200,000 Net Cash Flow
$0
2009 2010 2011 2012 2013
Year
D) Balance Sheet
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$900,000
$800,000
$700,000
$600,000
$500,000
Total Assets
$400,000
Total Liabilities
$300,000
Net Worth
$200,000
$100,000
$0
2009 2010 2011 2012 2013
Year
$2,000,000
$1,500,000
$1,000,000
Monthly Revenue
$500,000 Yearly Revenue
$0
2009 2010 2011 2012 2013
Year
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9.7 Business Ratios
Financials
Profit Margin 3.94% 19.82% 22.25% 26.36% 27.62%
Assets to Liabilities 18.10 11.25 10.20 11.57 14.43
Equity to Liabilities 17.10 10.25 9.20 10.57 13.43
Assets to Equity 1.06 1.10 1.11 1.09 1.07
Liquidity
Acid Test 13.92 7.98 6.38 6.15 6.62
Cash to Assets 0.77 0.71 0.63 0.53 0.46
General Assumptions
Year 2009 2010 2011 2012 2013
Short Term Interest Rate 9.5% 9.5% 9.5% 9.5% 9.5%
Long Term Interest Rate 10.0% 10.0% 10.0% 10.0% 10.0%
Federal Tax Rate 33.0% 33.0% 33.0% 33.0% 33.0%
State Tax Rate 5.0% 5.0% 5.0% 5.0% 5.0%
Personnel Taxes 15.0% 15.0% 15.0% 15.0% 15.0%
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SWOT Analysis
Strengths
Weaknesses
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• Adverse market conditions can impact revenue.
• The web technology used by the business is now public domain technology that
can be easily replicated
• A business model that is not patentable and therefore could be copied by a
potential competitor.
• The business will have very few tangible assets.
Opportunities
Threats
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of the Company. The financing will be primarily used for the development of technology
assets and for the Company’s expansive marketing campaigns.
• Investor funds will be in a Company that generates high margin revenue from
recurring advertising and restaurant profile subscription sales.
• Low overhead and operating expenses.
• The Company’s growth rate will create value and equity in the business very
quickly.
Reference Sources
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Expenses
Payroll $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000
General and Administrative $3,852 $3,852 $3,852 $3,852 $3,852 $3,852 $3,852
Marketing Expenses $3,152 $3,152 $3,152 $3,152 $3,152 $3,152 $3,152
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Professional Fees and Contract Labor $1,751 $1,751 $1,751 $1,751 $1,751 $1,751 $1,751
Insurance Costs $700 $700 $700 $700 $700 $700 $700
Communication and Tech. Costs $2,031 $2,031 $2,031 $2,031 $2,031 $2,031 $2,031
Office Expenses $473 $473 $473 $473 $473 $473 $473
Miscellaneous Costs $1,051 $1,051 $1,051 $1,051 $1,051 $1,051 $1,051
Payroll Taxes $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100
Total Operating Costs $29,109 $29,109 $29,109 $29,109 $29,109 $29,109 $29,109
Expenses
Payroll $14,000 $14,000 $14,000 $14,000 $14,000 $168,000
General and Administrative $3,852 $3,852 $3,852 $3,852 $3,852 $46,225
Marketing Expenses $3,152 $3,152 $3,152 $3,152 $3,152 $37,820
Professional Fees and Contract Labor $1,751 $1,751 $1,751 $1,751 $1,751 $21,011
Insurance Costs $700 $700 $700 $700 $700 $8,405
Communication and Tech. Costs $2,031 $2,031 $2,031 $2,031 $2,031 $24,373
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Office Expenses $473 $473 $473 $473 $473 $5,673
Miscellaneous Costs $1,051 $1,051 $1,051 $1,051 $1,051 $12,607
Payroll Taxes $2,100 $2,100 $2,100 $2,100 $2,100 $25,200
Total Operating Costs $29,109 $29,109 $29,109 $29,109 $29,109 $349,314
Expenses
Payroll $34,608 $43,260 $46,721 $48,451 $173,040
General and Administrative $17,941 $22,426 $24,220 $25,117 $89,705
Marketing Expenses $14,679 $18,349 $19,817 $20,551 $73,395
Professional Fees and Contract Labor $8,155 $10,194 $11,009 $11,417 $40,775
Insurance Costs $1,631 $2,039 $2,202 $2,283 $8,155
Communication and Tech. Costs $4,730 $5,912 $6,385 $6,622 $23,650
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Office Expenses $2,202 $2,752 $2,972 $3,083 $11,009
Miscellaneous Costs $4,893 $6,116 $6,606 $6,850 $24,465
Payroll Taxes $5,191 $6,489 $7,008 $7,268 $25,956
Total Operating Costs $94,030 $117,537 $126,940 $131,642 $470,150
Expenses
Payroll $50,499 $63,124 $68,173 $70,698 $252,494
General and Administrative $31,142 $38,928 $42,042 $43,599 $155,712
Marketing Expenses $25,480 $31,850 $34,398 $35,672 $127,401
Professional Fees and Contract Labor $14,156 $17,695 $19,110 $19,818 $70,778
Insurance Costs $2,831 $3,539 $3,822 $3,964 $14,156
Communication and Tech. Costs $8,210 $10,263 $11,084 $11,494 $41,051
Office Expenses $3,822 $4,778 $5,160 $5,351 $19,110
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Miscellaneous Costs $8,493 $10,617 $11,466 $11,891 $42,467
Payroll Taxes $7,575 $9,469 $10,226 $10,605 $37,874
Total Operating Costs $152,209 $190,261 $205,482 $213,092 $761,043
Expenses
Payroll $56,385 $70,481 $76,119 $78,939 $281,924
General and Administrative $51,385 $64,231 $69,370 $71,939 $256,925
Marketing Expenses $42,042 $52,553 $56,757 $58,859 $210,211
Professional Fees and Contract Labor $23,357 $29,196 $31,532 $32,699 $116,784
Insurance Costs $4,671 $5,839 $6,306 $6,540 $23,357
Communication and Tech. Costs $13,547 $16,934 $18,288 $18,966 $67,735
Office Expenses $6,306 $7,883 $8,514 $8,829 $31,532
Miscellaneous Costs $14,014 $17,518 $18,919 $19,620 $70,070
36
MenuList, LLC
Payroll Taxes $8,458 $10,572 $11,418 $11,841 $42,289
Total Operating Costs $220,165 $275,206 $297,223 $308,231 $1,100,825
Expenses
Payroll $72,258 $90,322 $97,548 $101,161 $361,288
General and Administrative $77,077 $96,347 $104,054 $107,908 $385,387
Marketing Expenses $63,063 $78,829 $85,135 $88,289 $315,317
Professional Fees and Contract Labor $35,035 $43,794 $47,297 $49,049 $175,176
Insurance Costs $7,007 $8,759 $9,459 $9,810 $35,035
Communication and Tech. Costs $20,320 $25,400 $27,433 $28,449 $101,602
Office Expenses $9,459 $11,824 $12,770 $13,243 $47,297
Miscellaneous Costs $21,021 $26,276 $28,378 $29,430 $105,106
Payroll Taxes $10,839 $13,548 $14,632 $15,174 $54,193
37
MenuList, LLC
Total Operating Costs $316,080 $395,100 $426,708 $442,512 $1,580,401
Total Cash Inflow $199,291 $428 $1,566 $2,703 $3,840 $4,977 $6,114 $7,251
Cash Outflows
Repayment of Principal $0 $0 $0 $0 $0 $0 $0 $0
A/P Decreases $3,125 $3,125 $3,125 $3,125 $3,125 $3,125 $3,125 $3,125
38
MenuList, LLC
A/R Increases $0 $0 $0 $0 $0 $0 $0 $0
Asset Purchases $55,000 $0 $0 $0 $0 $0 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0
Total Cash Outflows $58,125 $3,125 $3,125 $3,125 $3,125 $3,125 $3,125 $3,125
Net Cash Flow $141,166 -$2,697 -$1,559 -$422 $715 $1,852 $2,989 $4,126
Cash Balance $141,166 $138,470 $136,910 $136,488 $137,203 $139,055 $142,043 $146,169
Cash Outflows
Repayment of Principal $0 $0 $0 $0 $0
A/P Decreases $3,125 $3,125 $3,125 $3,125 $37,500
A/R Increases $0 $0 $0 $0 $0
Asset Purchases $0 $0 $0 $0 $55,000
Dividends $0 $0 $0 $0 $0
39
MenuList, LLC
Total Cash Outflows $3,125 $3,125 $3,125 $3,125 $92,500
Cash Outflows
Repayment of Principal $0 $0 $0 $0 $0
A/P Decreases $9,000 $11,250 $12,150 $12,600 $45,000
A/R Increases $0 $0 $0 $0 $0
Asset Purchases $6,464 $8,080 $8,726 $9,049 $32,319
Dividends $23,270 $29,087 $31,414 $32,578 $116,349
40
MenuList, LLC
Total Cash Outflows $38,734 $48,417 $52,290 $54,227 $193,668
Cash Outflows
Repayment of Principal $0 $0 $0 $0 $0
A/P Decreases $10,800 $13,500 $14,580 $15,120 $54,000
A/R Increases $0 $0 $0 $0 $0
Asset Purchases $12,599 $15,748 $17,008 $17,638 $62,993
Dividends $45,355 $56,694 $61,229 $63,497 $226,774
Total Cash Outflows $68,753 $85,942 $92,817 $96,255 $343,767
41
MenuList, LLC
Cash Outflows
Repayment of Principal $0 $0 $0 $0 $0
A/P Decreases $12,960 $16,200 $17,496 $18,144 $64,800
A/R Increases $0 $0 $0 $0 $0
Asset Purchases $24,629 $30,786 $33,249 $34,481 $123,145
Dividends $88,665 $110,831 $119,697 $124,130 $443,323
Total Cash Outflows $126,254 $157,817 $170,442 $176,755 $631,268
42
MenuList, LLC
Net Cash Flow $12,100 $15,125 $16,336 $16,941 $60,502
Cash Balance $248,894 $264,020 $280,355 $297,296 $297,296
Cash Outflows
Repayment of Principal $0 $0 $0 $0 $0
A/P Decreases $15,552 $19,440 $20,995 $21,773 $77,760
A/R Increases $0 $0 $0 $0 $0
Asset Purchases $38,700 $48,375 $52,245 $54,180 $193,502
Dividends $139,321 $174,152 $188,084 $195,050 $696,606
Total Cash Outflows $193,574 $241,967 $261,324 $271,003 $967,868
43
MenuList, LLC
Cash Balance $314,714 $336,487 $360,001 $384,387 $384,387
44