RESTAURANT CONCEPT & PRO FORMA WORKSHOP

A Pro Forma is the first indicator of whether the concept will produce profits to a satisfactory level. A well crafted Pro Forma facilitates a multitude of decisions and actions. A poorly prepared Pro Forma, on the other hand, will lead to poor decisions, usually resulting in significant financial loss.

The Pro Forma will guide the decision maker on the best way to fund the project as well as structure conversations with investors and lenders and should also serve as a benchmark of success after the business opens.

Phase I: During Phase One or "Concept Workshop" of the Pro Forma process, Barfly President, Chris Weinberg, works with clients on a one to one basis. In an effort to gain a very tight handle and understanding of the concept, Chris walks individuals through over 100 questions. Where there are holes or vision gaps, Chris will guide clients to complete what will be a potentially viable idea.

Phase II: Once the first session is complete, Chris dissects the information and works with the BarFly CPA to generate the first set of Pro Formas. The package includes projections for 7 years and includes Profit and Loss Statements, Balance Sheets, Cash Flow Statements, General Assumptions, Depreciation and Amortization Schedules. We also find the Break Even point for the business and show an additional three sales volumes in the Package Projections.

The key to the Concept Workshop and Pro Forma Package is direct access to an industry expert offering unbiased and objective feedback. Chris will ensure the right assumptions are being made for the concept and works directly with clients to make sure the finished product is investor and/or lender ready. The end result is an A+ look and great understanding of concept viability.

Details about the BarFly CPA - B.S. in Accounting (Magna Cum Laude) - Master’s Degree in Professional Accountancy -- CPA designation -- brings to BarFly over 10 years of accounting, tax and finance experience in public and private sector accounting.

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