Byrd — Year 1 Monthly P&L Budget

Seats

Turn Rate

1.5×

Food Check

$85

Bev Attach

65% · $20

Operating Days

22 / month

Monthly P&L — All Line Items

Line Item	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual
Occupancy %	55%	60%	65%	68%	70%	72%	73%	74%	76%	80%	85%	90%	—
Covers / Month	817	891	965	1010	1039	1069	1084	1099	1129	1188	1262	1336	—
Revenue
Food Revenue	$69,424	$75,735	$82,046	$85,833	$88,357	$90,882	$92,144	$93,406	$95,931	$100,980	$107,291	$113,602	$1,095,631
Beverage Revenue	$10,618	$11,583	$12,548	$13,127	$13,513	$13,900	$14,093	$14,286	$14,672	$15,444	$16,409	$17,374	$167,567
Total Revenue	$80,042	$87,318	$94,594	$98,960	$101,871	$104,782	$106,237	$107,692	$110,603	$116,424	$123,700	$130,977	$1,263,200
Cost of Goods
Food Cost (30%)	$20,827	$22,720	$24,614	$25,750	$26,507	$27,265	$27,643	$28,022	$28,779	$30,294	$32,187	$34,081	$328,689
Beverage Cost (23%)	$2,442	$2,664	$2,886	$3,019	$3,108	$3,197	$3,241	$3,286	$3,375	$3,552	$3,774	$3,996	$38,540
Total COGS	$23,269	$25,385	$27,500	$28,769	$29,615	$30,462	$30,885	$31,308	$32,154	$33,846	$35,962	$38,077	$367,232
Labor
Owner — Chef	$7,083	$7,083	$7,083	$7,083	$7,083	$7,083	$7,083	$7,083	$7,083	$7,083	$7,083	$7,083	$84,996
Owner — GM	$5,417	$5,417	$5,417	$5,417	$5,417	$5,417	$5,417	$5,417	$5,417	$5,417	$5,417	$5,417	$65,004
Flex Reserve	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$54,996
FOH (min wage + tips)	$4,838	$5,278	$5,718	$5,982	$6,158	$6,334	$6,422	$6,510	$6,685	$7,037	$7,477	$7,917	$76,356
Line Cooks	$4,004	$4,368	$4,732	$4,950	$5,096	$5,242	$5,314	$5,387	$5,533	$5,824	$6,188	$6,552	$63,190
Prep / Dishwasher	$1,525	$1,664	$1,803	$1,886	$1,941	$1,997	$2,025	$2,052	$2,108	$2,219	$2,357	$2,496	$24,073
Payroll Tax (12%)	$3,294	$3,407	$3,520	$3,588	$3,633	$3,679	$3,701	$3,724	$3,769	$3,860	$3,973	$4,086	$44,234
Total Labor	$30,745	$31,801	$32,856	$33,489	$33,912	$34,334	$34,545	$34,756	$35,178	$36,023	$37,079	$38,134	$412,852
Prime Cost %	67.5%	65.5%	63.8%	62.9%	62.4%	61.8%	61.6%	61.3%	60.9%	60.0%	59.0%	58.2%	—
Operating Expenses
Rent	$5,000	$5,000	$5,000	$5,000	$5,000	$5,000	$5,000	$5,000	$5,000	$5,000	$5,000	$5,000	$60,000
Buildout Amortization	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$4,583	$54,996
Utilities	$2,800	$2,800	$2,800	$2,800	$2,800	$2,800	$2,800	$2,800	$2,800	$2,800	$2,800	$2,800	$33,600
Insurance	$1,200	$1,200	$1,200	$1,200	$1,200	$1,200	$1,200	$1,200	$1,200	$1,200	$1,200	$1,200	$14,400
POS & Tech	$600	$600	$600	$600	$600	$600	$600	$600	$600	$600	$600	$600	$7,200
Marketing & PR	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$12,000
Repairs & Maintenance	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$6,000
Supplies & Smallwares	$800	$800	$800	$800	$800	$800	$800	$800	$800	$800	$800	$800	$9,600
Linen & Uniforms	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$400	$4,800
Accounting & Legal	$700	$700	$700	$700	$700	$700	$700	$700	$700	$700	$700	$700	$8,400
Miscellaneous	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$6,000
Total OpEx	$18,083	$18,083	$18,083	$18,083	$18,083	$18,083	$18,083	$18,083	$18,083	$18,083	$18,083	$18,083	$216,996
Net Operating Income	$7,944	$12,050	$16,155	$18,619	$20,261	$21,903	$22,724	$23,545	$25,188	$28,472	$32,577	$36,683	$266,121
NOI Margin %	9.9%	13.8%	17.1%	18.8%	19.9%	20.9%	21.4%	21.9%	22.8%	24.5%	26.3%	28.0%	—

Monthly NOI — Visual Ramp

Jan

$7,944

55%

Feb

$12,050

60%

Mar

$16,155

65%

Apr

$18,619

68%

May

$20,261

70%

Jun

$21,903

72%

Jul

$22,724

73%

Aug

$23,545

74%

Sep

$25,188

76%

Oct

$28,472

80%

Nov

$32,577

85%

Dec

$36,683

90%

Annual Revenue

$1,263,200

Realistic ramp from 55% Jan to 90% Dec · avg 72.3% occupancy

Annual NOI

$266,121

21.1% margin · holiday peak drives Q4 performance

Best Month — December

$36,683

90% occupancy · $130,977 revenue · 28.0% margin

Opening Month — January

$7,944

55% occupancy · profitable from day one · builds from here

Quarterly Investor Distribution — Year 1

Distribution Component	Q1 (Jan–Mar)	Q2 (Apr–Jun)	Q3 (Jul–Sep)	Q4 (Oct–Dec)	Annual
NOI Available	$28,133	$62,083	$72,457	$97,732	$266,121
8% Preferred Return	($20,000)	($20,000)	($20,000)	($20,000)	($80,000)
Investor 70% Pre-Payback Share	$5,693	$29,458	$36,720	$54,412	$130,285
Total Investor Distribution	$25,693	$49,458	$56,720	$74,412	$210,285
Owner 30% Share (retained in BRD)	$2,440	$12,625	$15,737	$23,319	$55,836

Q1 distribution is modest — opening ramp at 55–65% occupancy limits early NOI. Q4 holiday peak generates the strongest quarterly distribution at $74,412. Full capital payback projected Year 4. Preferred return paid first each quarter before any split applies.

Occupancy ramp: Jan 55% → gradual build through summer → Oct 80% → Nov 85% → Dec 90%. Holiday peak (Oct–Dec) represents the three strongest months of Year 1. Annual NOI of $266,121 reflects realistic opening conditions. Proforma steady-state $289,386 assumes consistent 75% occupancy — this model is the more accurate Year 1 picture. Adjust open month as needed when lease is signed.
Byrd Restaurant Development LLC · Confidential · Do Not Distribute