| MULTI-FRY-ER |
| Pro Forma Income Statement |
| For years ending 2019 through 2021 |
| | 2019 | 2020 | 2021 |
| Revenue |
| Food Sales (1) | $ 137,500 | $ 206,250 | $ 412,500 |
| Beverage Sales | 68,750 | 103,125 | 206,250 |
| Franchise Fee Revenue (2) | - | 75,000 | 157,500 |
| Total Sales | 206,250 | 384,375 | 776,250 |
| Cost of Sales (3) |
| Food and Beverage Cost | 61,875 | 92,813 | 185,625 |
| Salaries and Wages | 61,875 | 92,813 | 185,625 |
| Total Cost of Goods Sold | 123,750 | 185,625 | 371,250 |
| Gross Profit | 82,500 | 198,750 | 405,000 |
| Operating Expenses |
| Advertising (4) | 2,400 | 2,400 | 2,400 |
| Commissary (5, 6) | 4,800 | 4,800 | 9,600 |
| Fuel (4, 5) | 500 | 500 | 1,000 |
| Insurance (5, 7) | 2,500 | 2,500 | 5,000 |
| Legal and Professional Fees | 1,200 | 1,500 | 2,000 |
| License and Permit Fees (8) | 1,015 | 640 | 640 |
| Miscellaneous Expenses | 3,877 | 3,595 | 3,289 |
| Office Supplies | 1,200 | 1,200 | 1,200 |
| Office Space | 6,000 | 6,000 | 6,000 |
| Phone and Internet | 1,200 | 1,200 | 1,200 |
| Repairs and Maintenance (5) | 5,000 | 5,000 | 10,000 |
| Space Rental Fees for Events (5, 9) | 7,800 | 7,800 | 15,600 |
| Salaries and Wages, Administrative | 30,000 | 50,000 | 70,000 |
| Supplies (4) | 1,200 | 1,750 | 3,000 |
| Uniforms | 500 | 750 | 1,000 |
| Total Operating Expense | 69,192 | 89,635 | 131,929 |
| Net Income | $ 13,308 | $ 109,115 | $ 273,071 |
| Notes: |
| 1. Average lunch sales of $8.25 per customer. Multi-Fry-er is open for lunch 5 days a week, 50 weeks of the year (Survey results, 2017). |
| 2. Projection of 5 new franchised trucks in 2020 and 8 new franchised trucks in 2021, plus 5 trucks from 2020 paying 5% in estimated revenue in 2021 (20 Best, n.d.). |
| 3. Average food truck food costs are 28-35% of sales and average labor costs are 20-30% of sales (Myrick, n.d.). |
| 4. (Food truck projected income statement, 2015) |
| 5. Reflecting additional truck placed into service in 2021. |
| 6. (The complete breakdown of food truck operation costs, n.d.) |
| 7. (Thune & Spates, 2019) |
| 8. The figures reflect both local (Mobile vending and mobile food vending, 2012) and county (Mobile food truck III guidelines, n.d.) permit and licensing costs . |
| 9. Anticipated event costs of $150 per weekend (Mobile food truck III guidelines, n.d.). |
| References |
| Food truck projected income statement. (2015). Retrieved from https://blog.projectionhub.com/wp-content/uploads/2015/11/Food-Truck-Projected-Income-Statement.pdf |
| Mobile Food Truck III Guidelines. (n.d.). Retrieved from https://www.maricopa.gov/DocumentCenter/View/29645/Mobile-Food-Type-III-Guidelines-PDF |
| Mobile Vending and Mobile Food Vending. (2012). Retrieved from https://www.phoenix.gov/cityclerksite/Documents/mvbro.pdf |
| Myrick, R. (n.d.). Food truck food & labor cost percentages. Retrieved from https://mobile-cuisine.com/accounting/food-truck-food-labor-cost-percentages/ |
| Survey Results: What is the Average Income for a Food Truck Vendor? (2017). Retrieved from https://foodtruckempire.com/news/survey-income/ |
| The complete breakdown of food truck operation costs. (2014). Retrieved from https://foodtruckempire.com/how-to/costs/ |
| Thune, K., & Spates, D. (2019). Food Truck Insurance Cost, Coverage & More. Retrieved from https://fitsmallbusiness.com/food-truck-insurance-cost-coverage/ |
| 20 Best Food Truck Franchise Business Opportunities for 2019. (n.d.). Retrieved Afrom https://www.profitableventure.com/best-food-truck-franchises/ |
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ProFormIncomeStatement-RedTeam.xlsx
