Year

One Income Statement

Month of Start-up
Month of Operation
Month Name
Number of Weeks
Revenue
Schedule:

1
June

2
July

3
August

4
September

5
October

6
November

7
December

8
January

9
February

10
March

11
April

12
May

Annual

4.29

4.43

4.43

4.29

4.43

4.29

4.43

4.43

4.00

4.43

4.29

4.43

52.14

Sales
Gross Sales

$ 197,802

$ 238,462 $ 272,527 $ 296,703 $ 340,659 $ 329,670 $ 340,659 $ 340,659 $ 307,692 $ 340,659 $ 329,670 $ 340,659 $ 3,675,824

$ 197,802

$ 238,462 $ 272,527 $ 296,703 $ 340,659 $ 329,670 $ 340,659 $ 340,659 $ 307,692 $ 340,659 $ 329,670 $ 340,659 $ 3,675,824

All Merchandise
Cost of
Food/Products
Sold
Total Cost of Food/Products

$ 138,462

$ 166,923

$ 190,769

$ 207,692

$ 238,462

$ 230,769

$ 238,462

$ 238,462

$ 215,385

$ 238,462

$ 230,769

$ 238,462

$ 2,573,077

Labor

Production Staff

$ 35,096 $ 36,266 $ 36,266 $ 35,096 $ 36,266 $ 35,096 $ 36,266 $ 36,266 $ 32,756 $ 36,266 $ 35,096 $ 36,266 $ 426,998
Total Production Wages $ 35,096 $ 36,266 $ 36,266 $ 35,096 $ 36,266 $ 35,096 $ 36,266 $ 36,266 $ 32,756 $ 36,266 $ 35,096 $ 36,266 $ 426,998

Retail Materials bags

Labels - for pricing
Supplies - cleaning, etc
Total Production Materials
Variable Costs

General &
Admin Wages

$ 198

$ 99

$ 198

$ 495

$ 238

$ 119

$ 238

$ 596

$ 273

$ 136

$ 273

$ 681

$ 297

$ 148

$ 297

$ 742

$ 341

$ 170

$ 341

$ 852

$ 330

$ 165

$ 330

$ 824

$ 341

$ 170

$ 341

$ 852

$ 341

$ 170

$ 341

$ 852

$ 308

$ 154

$ 308

$ 769

$ 341

$ 170

$ 341

$ 852

$ 330

$ 165

$ 330

$ 824

$ 341

$ 170

$ 341

$ 852

$ 3,676
$ 1,838
$ 3,676
$ 9,190

Prod. - Insurance - Workers' Comp

$ 2,106
Prod. - Employee Health Benefits
$ 5,667
Prod. - Payroll Taxes--Prodn Wages
$ 3,738
Credit Card Fees (sales*%cc usage*cc fee rate*sales
$ t ax)
2,534
Repair and Maintenance
$ 198

Other
$ 396

Total Other Production Expenses $ 14,637
Total Cost of Goods Sold $ 188,689

$ 2,176
$ 5,667
$ 3,862
$ 3,055
$ 238

$ 477

$ 15,475
$ 219,260

$ 2,176
$ 5,667
$ 3,862
$ 3,491
$ 273

$ 545

$ 16,014
$ 243,730

$ 2,106
$ 5,667
$ 3,738
$ 3,801
$ 297

$ 593

$ 16,201
$ 259,731

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 2,106
$ 5,667
$ 3,738
$ 4,223
$ 330

$ 659

$ 16,722
$ 283,411

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 1,965
$ 5,667
$ 3,489
$ 3,942
$ 308

$ 615

$ 15,985
$ 264,895

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 2,106
$ 5,667
$ 3,738
$ 4,223
$ 330

$ 659

$ 16,722
$ 283,411

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 25,620
$ 68,000
$ 45,475
$ 47,087
$ 3,676
$ 7,352
$ 197,210
$ 3,206,474

Administrative Employees

$ 11,657 $ 12,046 $ 12,046 $ 11,657 $ 12,046 $ 11,657 $ 12,046 $ 12,046 $ 10,880 $ 12,046 $ 11,657 $ 12,046 $ 141,829
Total G & A Wages $ 11,657 $ 12,046 $ 12,046 $ 11,657 $ 12,046 $ 11,657 $ 12,046 $ 12,046 $ 10,880 $ 12,046 $ 11,657 $ 12,046 $ 141,829

General &
Admin Expense Admin. - Payroll Tax--Others
Admin. - Workers' Comp--Others
Admin. - Employee Benefits--Other
Electric
HVAC
Pest Control
Commercial Trash Removal
Telephone
Water & Sewer
Insurance - Inclusive (R&D & liability etc.)
Interest on Debt
Depreciation
Rent/Lease (inc. prop tax & fire ins.?)
Accounting
Payroll Fees
Computer/Website Expense (hosting, email etc.)
Legal Expenses
Membership Fees etc.
Office Expense
Marketing--Ads, etc.
Other G&A
Total G&A--Other Than Wages
Total Gen and Admin

$ 1,241
$ 117

$ 1,000
$ 800

$ 1,500
$ 80

$ 100

$ 100

$ 200

$ 250

$ 3,255
$ 9,940
$ 500

$ 120

$ 400

$ 275

$ 100

$ 250

$ 25

$ 2,631
$ 200

$ 23,083
$ 34,740

$ 1,283
$ 120

$ 1,000
$ 800

$ 2,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,231
$ 9,940
$ 500

$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 3,172
$ 200

$ 24,145
$ 36,191

$ 1,283
$ 120

$ 1,000
$ 800

$ 2,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,207
$ 9,940
$ 500

$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 3,625
$ 200

$ 25,075
$ 37,120

$ 1,241
$ 117

$ 1,000
$ 800

$ 2,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,184
$ 9,940
$ 1,418
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 3,946
$ 200

$ 26,245
$ 37,902

$ 1,283
$ 120

$ 1,000
$ 800

$ 2,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,160
$ 9,940
$ 1,418
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 26,351
$ 38,397

$ 1,241
$ 117

$ 1,000
$ 800

$ 1,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,136
$ 9,940
$ 1,418
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,385
$ 200

$ 25,136
$ 36,793

$ 1,283
$ 120

$ 1,000
$ 800

$ 1,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,112
$ 9,940
$ 1,934
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 26,320
$ 38,366

$ 1,283
$ 120

$ 1,000
$ 800

$ 1,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,088
$ 9,940
$ 1,934
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 26,296
$ 38,342

$ 1,159
$ 109

$ 1,000
$ 800

$ 1,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,064
$ 9,940
$ 1,934
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,092
$ 200

$ 25,698
$ 36,578

$ 1,283
$ 120

$ 1,000
$ 800

$ 1,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,040
$ 9,940
$ 1,978
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 25,792
$ 37,838

$ 1,241
$ 117

$ 1,000
$ 800

$ 1,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 3,016
$ 9,940
$ 1,978
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,385
$ 200

$ 25,576
$ 37,234

$ 1,283
$ 120

$ 1,000
$ 800

$ 1,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,992
$ 9,940
$ 1,978
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 25,744
$ 37,789

$ 15,105
$ 1,418
$ 12,000
$ 9,600
$ 19,000
$ 960

$ 1,200
$ 1,200
$ 250

$ 3,000
$ 37,486
$ 119,275
$ 17,489
$ 1,440
$ 4,800
$ 3,300
$ 1,200
$ 3,000
$ 300

$ 48,888
$ 2,400
$ 305,461

$ 447,289

TOTAL OPERATING COSTS $ 223,429

$ 255,451

$ 280,850

$ 297,633

$ 331,066

$ 320,204

$ 331,035

$ 331,011

$ 301,473

$ 330,507

$ 320,645

$ 330,459

$ 3,653,764

Income Taxes
Labor as a % of sales

Net Profit $ (25,627) $ (16,989)

$ (8,323) $ (930) $ 9,593 $ 9,466 $ 9,624 $ 9,648 $ 6,220 $ 10,152 $ 9,025 $ 10,200 $ 22,060
$ 8,824
31%
26%
23%
20%
18%
18%
18%
18%
19%
18%
18%
18%
NET INCOME AFTER TAXES

Renaissance Community Coop

$ 13,236

http://renaissancecoop.com

Year One Income Statement

Assumptions
Cost of goods sold
Payroll Taxes
Workers Compenstation (Risky)
Workers Compenstation (Non-Risky)
Employee health benefits
credit card fee rate
% of credit card usage
Sales Tax
Building Depreciation
Equipment Depreciation
Income Tax
marketing costs
Bags
Labels - price
Cleaning supplies
Repair & maintenance
Other
Electric
HVAC
Pest Control
Trash Removal
Telephone & Internet
Water & Sewer
Insurance--Inclusive
Rent first quarter of operations
Variable rent rate for later quarters
Cap on rent
Accounting
Computer/Internet/Website Expense
Legal Expenses
Membership fees
Office Expense
Other G&A

Payroll Fees

Renaissance Community Coop

70%
10.65%
0.06
0.01
$4,000
0.03
0.4
0.0675
20
7
0.4
1.33%
0.1%
0.05%
0.1%
0.1%
0.2%
$ 800

$ 80

$ 100

$ 100

$ 200

$ 250

$ 500

0.6%
$ 2,000
$ 120

$ 275

$ 100

$ 250

$ 25

$ 200

$ 400.00

of wages

per FT employee/year

years
years
of sales
of sales
of sales
of sales
of sales
of sales
per month
variable by season
per month
per month
per month
per month

per month
per month
of prev QTR sales,
per month
per month
per month
per month
per month
per month
per month
permonth

http://renaissancecoop.com

Year One Cash Flow Analysis

2
$ 194,609

3
$ 177,283

4
$ 168,600

5
$ 167,287

Month of Start-up
6
7
$ 176,472 $ 185,507

8
$ 194,676

9
$ 203,844

10
$ 209,561

11
$ 219,186

12
$ 227,660

$ 197,802
$
$
$
$
Total Souces $ 197,802

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

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

$ 296,703
$
$
$
$
$ 296,703

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

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

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

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

$ 307,692
$
$
$
$
$ 307,692

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

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

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

$ 62,420
$ 166,923
$
596
$ 3,770
$
250
$
500
$ 7,822
$ 3,231
$
$
$
$ 10,276
$ 255,787
$
$ 255,787

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

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

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

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

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

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

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

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

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

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

Starting Cash
Sources
Cash Sales
Rental Income
Short-term Loan Proceeds
Long-Term Loan Proceeds
Equity Capital Proceeds

Average

1
$ 220,549

Uses
Payroll & Related
Cost of Food/Products Sold
Production Materials
Other Production Expenses
Insurance
Rent
Other G&A
Interest
Purchase Depreciable Assets
Purchase Non-Depr. Assets
Dividends, Owner Pay-outs
Debt Principle Payments
Total Uses Before Taxes
Income Taxes
Total Uses After Taxes

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

60,621
138,462
495
3,127
250
500
6,781
3,255
10,253
223,742
223,742

62,420
190,769
681
4,309
250
500
8,775
3,207
10,300
281,210
281,210

60,621
207,692
742
4,691
250
1,418
9,096
3,184
10,324
298,017
298,017

62,420
238,462
852
5,386
250
1,418
9,181
3,160
10,347
331,474
331,474

Net Change in Cash

$ (25,940) $ (17,326) $ (8,683) $ (1,314) $ 9,185
Ending Cash Position $ 194,609 $ 177,283 $ 168,600 $ 167,287 $ 176,472

Net Change in Cash before Interest & Debt Pmt

Debt servcie coverage
Interest & debt principle

Renaissance Community Coop

60,621
230,769
824
5,212
250
1,418
8,035
3,136
10,371
320,636
320,636

$ 9,034
$ 185,507

62,420
238,462
852
5,386
250
1,934
8,681
3,112
10,395
331,490
331,490

$ 9,169
$ 194,676

62,420
238,462
852
5,386
250
1,934
8,681
3,088
10,419
331,490
331,490

$ 9,169
$ 203,844

57,024
215,385
769
4,865
250
1,934
8,242
3,064
10,443
301,976
301,976

$ 5,716
$ 209,561

62,420
238,462
852
5,386
250
1,978
8,181
3,040
10,467
331,034
331,034

$ 9,625
$ 219,186

60,621
230,769
824
5,212
250
1,978
8,035
3,016
10,491
321,196
321,196

$ 8,474
$ 227,660

62,420
238,462
852
5,386
250
1,978
8,181
2,992
10,515
331,034
8,824
339,859

$13,507

$13,507

$13,507

$13,507

$13,507

$13,507

$13,507

$13,507

$13,507

$13,507

Total CFS
Total ISS
$ 3,675,824 $ 3,675,824

3123.80 $ 37,486

10383.34

$124,600

Net CSF
Net ISS
$ 13,236.26 $ 13,236.26

$
801
$ 228,460

$ (12,433) $ (3,819)

$ 4,824

$ 12,194

$ 22,692

$ 22,542

$ 22,676

$ 22,676

$ 19,223

$ 23,132

$ 21,981

$ 14,308

-0.92
-0.28
0.36
0.90
1.68
1.67
1.68
1.68
1.42
1.71
1.63
1.06
$13,507

Totals / Checks

14166.38
1.05

$13,507

http://renaissancecoop.com

Year One 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

1
June
4.29
$197,802

2
July
4.43
$238,462

August September
4.43
4.29
$272,527 $296,703

RCC Month of Start-up

6
7

October November December

4.43
4.29
4.43
$340,659 $329,670 $340,659

January
February
4.43
4.00
$340,659 $307,692

10
March
4.43
$340,659

11
April
4.29
$329,670

12
May
Total
4.43
30.57
$340,659 $3,675,824

Source:
4,000,000
$76,923
60%
70%
80%
90%
100%
$400.00 Stuart Reid
10,000

Renaissance Community Coop

http://renaissancecoop.com

Employee Worksheet
RCC Employment - Weekly Payroll
Hourly or Production Employees
Checkout - Full Time
Checkout - Part Time
Produce Dept. Manager
Meat Dept. Manager
Meat Dept. Staff
Deli Manager
Wellness & Community Manager
Deli Staff
Stockers/Floor Staff
Janitorial
Total
Total FT Production employees

Employee
Numbers
6
3
1
1
1
1
1
2
3
1
20
17

Administrative Employees
Manager
Assistant Manager
Office Assistant
Total
Total FT Admn employees
Total Full Time Employees
Total Part Time Employees
TOTAL

Renaissance Community Coop

1
1
1
3
3
20
3
23

Wages Per
Hour
$11.00
$11.00
$15.00
$17.00
$11.00
$15.00
$15.00
$11.00
$11.00
$11.00

$33.00
$20.00
$15.00

Hours Per
Week
Total/Week
36
$2,376
15
$495
40
$600
40
$680
40
$440
40
$600
40
$600
40
$880
36
$1,188
30
$330
$8,189

40
40
40

Total Per
Month
$10,296
$2,145
$2,600
$2,947
$1,907
$2,600
$2,600
$3,813
$5,148
$1,430
$35,486

Total Per
Year
$123,552
$25,740
$31,200
$35,360
$22,880
$31,200
$31,200
$45,760
$61,776
$17,160
$425,828

$1,320
$800
$600
$2,720

$5,720
$3,467
$2,600
$11,787

$68,640
$41,600
$31,200
$141,440

$10,909

$47,272

$567,268

http://renaissancecoop.com

Three Year Cash Flow Analysis

Starting Cash

Summary Cash Flow Analysis

1
2
220,549 $
238,410 $

3
273,786

Sources

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

3,675,824
3,675,824

$
$
$
$
$
$

3,933,132
3,933,132

$
$
$
$
$
$

4,208,451
4,208,451

$
$
Production Materials
$
Other Production Expenses
$
Insurance
$
Rent
$
Other G&A
$
Interest
$
Purchase Depreciable Assets
$
Purchase Non-Depr. Assets
$
Dividends, Owner Pay-outs
$
Debt Principle Payments
$
Total Uses Before Taxes $
Income Taxes
$
Total Uses After Taxes $

736,445
2,573,077
9,190
58,115
3,000
17,489
89,738
37,486
124,600
3,649,139
8,824
3,657,963

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

769,860
2,753,192
9,373
61,631
3,060
24,000
91,533
35,465
126,621
3,874,736
23,021
3,897,757

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

804,844
2,945,916
9,561
65,383
3,121
24,480
93,364
31,926
130,159
4,108,754
40,793
4,149,547

17,861
238,410

$
$

35,375
273,786

$
$

58,904
332,690

Cash Sales

Rental Income

Uses
Payroll & Related

Cost of Food/Products Sold

Net Change in Cash

Ending Cash Position $

Net Change in Cash before Interest & Debt Pmt

Debt servcie coverage
Sum of Interst & debt principle

Renaissance Community Coop

$ 179,947 $ 197,461 $ 220,990

1.11
1.22
1.36
$162,086
$162,086
$162,086

http://renaissancecoop.com

Three Year Income Statement

Year of Start-up
Revenue Schedule:

$ 1 $ 2 $ 3

$ 3,675,824 $ 3,933,132 $ 4,208,451

$ 3,675,824 $ 3,933,132 $ 4,208,451

Sales
Gross Sales

All Merchandise
Cost of Food/Products Sold Total Cost of Food/Products

$ 2,573,077 $ 2,753,192 $ 2,945,916

$ 426,998

$ 448,348 $ 470,765

Total Production Wages $ 426,998

$ 448,348 $ 470,765

Labor

Production Staff

Retail Materials

Bags
Labels - for pricing
Supplies - cleaning, etc
Total Production Materials

$ 3,676
$ 1,838
$ 3,676
$ 9,190

$ 3,749
$ 1,875
$ 3,749
$ 9,373

$ 3,824
$ 1,912
$ 3,824
$ 9,561

Variable Costs

Prod. - Insurance - Workers' Comp

$ 25,620
Prod. - Employee Benefits
$ 68,000
Prod. - Payroll Taxes--Prodn Wages
$ 45,475
Credit Card Fees (sales*%cc usage*cc fee rate*sales
$ t ax)
47,087
Repair and Maintenance
$ 3,676
Other
$ 7,352
Total Other Production Expenses $ 197,210
Total Cost of Goods Sold $ 3,206,474

$ 26,901

$ 71,400

$ 47,749

$ 50,383

$ 3,749
$ 7,499
$ 207,681

$ 3,418,595

$ 28,246
$ 74,970
$ 50,136
$ 53,910
$ 3,824
$ 7,649
$ 218,736
$ 3,644,977

General & Admin Wages

Administrative Employees

General & Admin Expense

Admin. - Payroll Tax--Others

Admin. - Workers' Comp--Others
Admin. - Employee Benefits--Other
Electric
HVAC
Pest Control
Trash Removal
Telephone
Water & Sewer
Insurance - Inclusive
Interest on Debt
Depreciation
Rent
Accounting
Payroll Fees
Computer/Internet/Website Expense
Legal Expenses
Membership Fees
Office Expense
Marketing--Ads, etc.
Other G&A
Total G&A--Other Than Wages
Total Gen and Admin

$ 141,829

$ 146,083 $ 150,466
Total G & A Wages $ 141,829 $ 146,083

$ 150,466
$ 15,105
$ 1,418
$ 12,000
$ 9,600
$ 19,000
$ 960
$ 1,200
$ 1,200
$ 250
$ 3,000
$ 37,486
$ 119,275

$ 17,489
$ 1,440
$ 4,800
$ 3,300
$ 1,200
$ 3,000
$ 300
$ 48,888
$ 2,400
$ 303,311
$ 445,139

$ 15,558

$ 1,461
$ 12,360

$ 9,792
$ 19,380

$ 979
$ 1,224
$ 1,224
$ 255
$ 3,060
$ 35,465

$ 119,275
$ 24,000

$ 1,469
$ 5,040
$ 3,366
$ 1,224
$ 3,150
$ 306

TOTAL OPERATING COSTS $ 3,651,614

$ 8,824
Net Profit $ 24,210

Net Profit After Taxes
$ 15,386

$ 3,875,580.06
$ 23,021

$ 57,552

$ 34,531

Income Taxes

Assumptions for Growth

Cost of Goods sold holds steady relative to price charged
General Expense Growth
Production Employee Expense Growth
Admin Employee Growth
Sales Growth

Renaissance Community Coop

$ 16,025
$ 1,505
$ 12,731
$ 9,988
$ 19,768
$ 999

$ 1,248
$ 1,248
$ 260

$ 3,121
$ 31,926
$ 119,275
$ 24,480
$ 1,498
$ 5,292
$ 3,433
$ 1,248
$ 3,308
$ 312

$ 49,866 $ 50,864
$ 2,448 $ 2,497
$ 310,902 $ 311,026

$ 456,985

$ 461,492
$ 4,106,469
$ 40,793
$ 101,982
$ 61,189

70%
2%
5%
3%
7%

http://renaissancecoop.com

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

Amount

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

$350,000
$650,000
$236,250
$148,350
$30,000
$1,414,600

Short Term Capitalization

Start-up staffing
Start-up promotion
Interest paid pre-opening
post-opening professional support
Operating cost prior to opening
Operatiing Capital (Cash)
Total Short Term

$ 69,806
$ 18,379
$ 13,014
$ 30,000
$ 15,000
$ 220,549
$ 366,749

Overrun allowance

$ 267,202

$100,000
$24,938
$120,000
$100,000
$290,000
$634,938

Subordinated debt (4%, 10 years)

Loans from community members
$ 300,000

Total Subordinated debt $ 300,000
Government loans
City of GSO Econ Dev't Loan (0%, 10 years) $ 600,000

Total Government Loans $ 600,000
Commercial Loans
CDFI & Coop Funding Sources (4%, 10 years) $ 315,000

Regional Commercial Bank (7%, 10 years)
$ 200,000

Total Commercial Loans $ 515,000

Total Capital Needed $ 2,048,551

EQUITY $ 634,938
TOTAL TO BE BORROWED $ 1,413,613

TOTAL BORROWED $ 1,415,000

Assumptions from other sheets

Building Space Square Footage
First year sales

10,000 From revenue model

$ 3,675,824

From revenue model

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
Start Up Promotion
Start up Capital
Blended interest rate
% 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

$ 35.00
67.5%
$ 65.00
$ 35.00
12%
$ 30,000.00

1
6
0.5%
6%
2.8%
100%
4
6%
15,000
15%
$ 100

1,000
100
$ 3,000

Renaissance Community Coop

Amount

Data Source
S Reid/bldg is vanilla box
S Reid
S Reid
S Reid
S Reid
S Reid
months of wages
S Reid
months of wages
S Reid
of first year sales
S Reid
Stewart Reid's sources & uses
S Rdeid
oc
per total square foot
of total square footage
per total square foot
per retail square foot
of (LHI+eqpt+inv)

weighted average of terms above)

of year 1 sales
of start up costs

S Reid

http://renaissancecoop.com

Depreciation Calculator
Straight Line Depreciation

Capital
Equipment

$528,350
$650,000

Over # of
years
20
7

Monthly
Months/year # of months Depreciation
12
240
$2,201.46
12
84
$7,738.10
Total monthly depreciation

Renaissance Community Coop

$9,939.55

http://renaissancecoop.com

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

$1,415,000
2.760%
10
2014
June

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

$162,085.68
$13,507.14
$22,284.39
$205,856.80
$1,620,856.80

Payments in First 12 Months

Year

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

2015

Beginning
Cumulative Cumulative
Payment
Principal
Interest
Ending Balance
Balance
Principal
Interest
$1,415,000.00
$13,507.14
$10,252.64
$3,254.50
$10,252.64
$3,254.50
$1,404,747.36
$1,404,747.36
$13,507.14
$10,276.22
$3,230.92
$20,528.86
$6,485.42
$1,394,471.14
$1,394,471.14
$13,507.14
$10,299.86
$3,207.28
$30,828.72
$9,692.70
$1,384,171.28
$1,384,171.28
$13,507.14
$10,323.55
$3,183.59
$41,152.27
$12,876.29
$1,373,847.73
$1,373,847.73
$13,507.14
$10,347.29
$3,159.85
$51,499.56
$16,036.14
$1,363,500.44
$1,363,500.44
$13,507.14
$10,371.09
$3,136.05
$61,870.65
$19,172.19
$1,353,129.35
$1,353,129.35
$13,507.14
$10,394.94
$3,112.20
$72,265.59
$22,284.39
$1,342,734.41
$1,342,734.41
$13,507.14
$10,418.85
$3,088.29
$82,684.44
$25,372.68
$1,332,315.56
$1,332,315.56
$13,507.14
$10,442.81
$3,064.33
$93,127.25
$28,437.01
$1,321,872.75
$1,321,872.75
$13,507.14
$10,466.83
$3,040.31 $103,594.08
$31,477.32
$1,311,405.92
$1,311,405.92
$13,507.14
$10,490.91
$3,016.23 $114,084.99
$34,493.55
$1,300,915.01
$1,300,915.01
$13,507.14
$10,515.04
$2,992.10 $124,600.03
$37,485.65
$1,290,399.97

Yearly Schedule of Balances and Payments

Year
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024

Beginning
Payment
Principal
Interest
Balance
$1,342,734.41
$162,085.68
$126,620.51
$35,465.17
$1,216,113.90
$162,085.68
$130,159.26
$31,926.42
$1,085,954.64
$162,085.68
$133,797.44
$28,288.24
$952,157.20
$162,085.68
$137,537.33
$24,548.35
$814,619.87
$162,085.68
$141,381.75
$20,703.93
$673,238.12
$162,085.68
$145,333.63
$16,752.05
$527,904.49
$162,085.68
$149,395.97
$12,689.71
$378,508.53
$162,085.68
$153,571.86
$8,513.82
$224,936.67
$162,085.68
$157,864.47
$4,221.21
$67,072.19
$67,535.70
$67,072.19
$463.51

Renaissance Community Coop

Cumulative Cumulative
Principal
Interest
$198,886.10
$57,749.56
$329,045.36
$89,675.98
$462,842.80
$117,964.22
$600,380.13 $142,512.57
$741,761.88 $163,216.50
$887,095.51 $179,968.55
$1,036,491.47 $192,658.27
$1,190,063.33 $201,172.09
$1,347,927.81 $205,393.29
$1,415,000.00 $205,856.80

Ending
Balance
$1,216,113.90
$1,085,954.64
$952,157.20
$814,619.87
$673,238.12
$527,904.49
$378,508.53
$224,936.67
$67,072.19
$0.00

http://renaissancecoop.com