BUILDING A DREAM

SPREADSHEET MODEL BUSINESS PLAN

SCHEDULE DESCRIPTION
SCHEDULE 1 Assumptions
SCHEDULE 2 Store Variables
SCHEDULE 3 Start-up and Operating Costs
SCHEDULE 4 Revenue & Price Formulation
SCHEDULE 5 Earnings Forecast
SCHEDULE 6 Return On Investment
SCHEDULE 7 IRR Calculations
SCHEDULE 8 Business Unit NPV
Key Assumptions (Locked)

LOCKED DATA
DT VAN OUTLET
Household Income In Area $ 100,000 $ 75,000 $ 85,000
Household Income (Tourists) $ 120,000 $ 90,000 $ 85,000
Wallet Size (Tourists)
Wallet Size (Locals)
Traffic 2800 1700 2000
% Tourists 60% 45% 40%
% Locals 40% 55% 60%
% Tourists that Spend 75% 50% 80%
% Locals that Spend 55% 80% 50%
% Tourists Wallet Available/Trip 3% 3% 3%
% Locals Wallet Available/Trip 1% 1% 1%
Total Local Pop. (3-5km radius) 125,000 82,000 35,000
Hours of Operation Weekdays 14 12 12
Hours of Operation Weekends 16 16 12%
Total Days Open 350 350 350
Christmas Multiplier 0.8 0.8 0.8
Summer Mutiplier 1.3 1.3 1.3
Christmas Days 120 90 90
Summer Days 100 70 70
Rent 120 70 60
Square Footage 32000 24000 36000
Key Inputs (Store Setup)
Unit Input Unit Multipler Outputs
Company Square Footage sqft 32000 sqft 1 32000
Location DT, VAN, SUB DT 2800 2800
Hours Open hrs 12
Days Open/Year days 350 4200
Square Footage Food Court Vendors Area # 7 694.9 6080
Food Courst Seating Area # 185 26.53 4908
Dry & Cold Storage (Level 1) sqft 2052
Retail Space sqft 2103
Wine Wall & Store sqft 856
Restaurant # 250 24.175648 6044
Bar # 120 41.971611 5037
Kitchen & Storage sqft 4063
Wine Wall & Bar # 20 42.816018 856
Rooftop Bar & Grill # 125 51.2 6400
Metrics Restaurant Turnover # 3.5 250 875
Bar Turnover # 4 480
Wine Bar Turnover # 2 80
Rooftop Bar Turnover # 4 500
Food Court Transactions/Day # 45 2 972
Wine Bottles/Customer 1 270
# of Classes or Tours / Day / Guide # 4 20 80
Customer Breakdown Local Target Demo % 40% $ 100,000.00
Tourist Demo % 60% $ 100,000.00
Average Traffic/Day # 2800
% Cross Spenders Retail + Foodcourt % 15%
% Cross Spenders Restaurant + Retail % 9%
% Cross Spenders Foodcourt + Restaurant % 9%
% Cross Spenders Bar + Restaurant % 11%
Total Visitors/Day 4032
% Spenders Retail % 15% 604.8 486 Max
% Food Court Vendors % 35% 1411.2 972 Max
% Spenders Wine Store % 8% 322.56 270 Max
% Spenders Restaurant % 24% 967.68 875 Max
% Spenders Bar % 13% 524.16 560 Max
% Spenders Rooftop Bar & Grill % 15% 604.8 500 Max
% Spenders Services % 3% 120.96 80 Max
Average Pricing Bar & Wine Bar Average Price (Tourist) $1.62 $ 9 2830.464 0.82 Margin
Bar & Wine Bar Average Price (Local) $1.26 $ 7 1467.648 0.82 Margin
Food Court Spend (Tourist) $2.40 $ 8 6773.76 0.7 Margin
Food Court Spend (Local) $2.70 $ 9 5080.32 0.7 Margin
Restaurant Spend (Tourist) $5.72 $ 19.08 11075.0976 0.7 Margin
Restaurant Spend (Local) $5.15 $ 17.17 6645.05856 0.7 Margin
Wine Bottles Spend (Tourist) $2.70 $ 9 1741.824 0.7 Margin
Wine Bottles Spend (Locals) $4.50 $ 15 1935.36 0.7 Margin
Rooftop Grill Spend (Tourist) $4.20 $ 14 5080.32 0.7
Rooftop Grill Spend (Local) $5.70 $ 19 4596.48 0.7
Retail Spend (Tourist) $8.80 $ 11 3991.68 0.2
Retail Spend (Local) 18.4 $ 23 5564.16 0.2
LEGEND Team 6 Fixed Unit Cost/Revenue Factors
Cost Type C Cost Description Sqft $/Sqft Units $/Unit Sqft $ (Override) $ Total
Renos Reference
Capital Cost Renos (Design, Materials, Install) 32000 205 -
E = Expenses Front Renovation (Walls, Flooring, Paint, Accents, etc.) 32000 120 $ 3,840,000.00
A = Assets HVAC/Plumbing/Fire Suppression/Hoods 32000 30 $ 960,000.00
Lighting/Electrical/Internet/Sound 32000 30 $ 960,000.00
Management/Back Offices, Equipment 32000 15 $ 480,000.00
Truck Loading - Ramps, Roll-up Doors 32000 10 $ 320,000.00
Equipment (Supply, Install)
Equipment Reference
Dry Storage - Handling Equip, Pallets, Space, Boxes, etc. 1026.173031 25 1 $ 25,654.33
Cold Storage - Packing Equip, Cooler, Shelves, etc. 1026.173031 100 1 1026.173031 $ 102,617.30
Food Counter - Machinery, Equipment, Cooking Utensils 6080.452381 247.5144785 7 215000 868.6360545 $ 1,505,000.00
Restaurant & Bar Equipment - Food Court, Rest. & Rooftop 7088.939327 88 308.2147534 88 7088.939327 $ 623,826.66
Internal Furnishings / Decorations / Signage - Downstairs 7867.201556 30 1 $ 236,016.05
Internal Furnishings / Decorations / Signage - Upstairs 11936.82554 55 1 $ 656,525.40
Restaurant, Bar & Food Court Utensils / Cutlery 23244.44238 10 1 $ 232,444.42
Market Place & Wine Store - Shelving & Displays 2959.584721 20 1 $ 59,191.69
Hiring & 2Mo's Training Costs (MGMT) 30 16000 $ 480,000.00
Hiring & Training Costs (Shift Workers) 175 1250 $ 218,750.00
Initial Food Costs (Dry / Limited Shelf life Items) $ 136,172.32 $ 136,172.32
Initial Alcohol Costs $ 689,350.80 $ 689,350.80
Grand Opening $ 100,000.00 $ 100,000.00

Operations Facilities
Basic Rent 32000 120 $ 3,840,000.00
Addon Services (Security, Garbage, Internet) 32000 3 $ 96,000.00
Utilities 32000 7 $ 224,000.00
Maintenance/Upkeep of Equipment $ -
Replacement Costs (Chairs, Utensils, Plates, etc) 5% $ 623,826.66 $ 31,191.33
Depreciation $ 752,098.29 $ -
SG&A $ -
Advertising, Public Relations & Website 375000 $ 375,000.00
Wages & Salaries $ -
MGMT & Admin Salaries 32 60000 $ 1,920,000.00
Restaurant Staff 64.00 20500 $ 1,312,000.00
Food Court Staff 133.33 17000 $ 2,266,666.67
Raw Goods $ 8,266,480.12
Logistics $ 578,653.61
Financing Costs Cost of Capital $ -
Inventory Management (cost of borrowed capital) $ -
Supply Chain Management (cost of borrowed capital) $ -
Cost of Long Term Loans (capital costs, equipment leases, etc.) $ -
Cost of Short Term Loans (Payroll, Inventory, etc.) $ -

Start-up Costs $ 11,625,548.98

Operating Costs $ 18,909,991.73
 Initial
Grand Rent & Raw
Renovations Equipment Hiring Food & Utilities Labour Maintenance WACC
Opening Services Goods
Alcohol
 RESTAURANT Column2 Column3 Column4 % Order Type Price $-% Cost $-%5
Bill Makeup = Appetizer ($6 @ $3) 0.16666667 5% $ 6.00 $ 0.30 $ 2.00 $ 0.10
Bill Makeup = Appetizer ($6 @ $3-5), Non-Alcoholic ($2.5 @ $0.25) 0.11764706 5% $ 8.50 $ 0.43 $ 2.25 $ 0.11
Bill Makeup = Main Course ($14 @ $3-5) 0.07142857 15% $ 14.00 $ 2.10 $ 4.00 $ 0.60
Bill Makeup = Main Course ($14 @ $3-5), Non-Alcoholic ($2.5 @ $0.25) 0.060606 20% $ 16.50 $ 3.30 $ 4.25 $ 0.85
Bill Makeup = Main Course ($14 @ $3-5), Alcohol ($5 @ $1) 0.052632 25% $ 19.00 $ 4.75 $ 5.00 $ 1.25
Bill Makeup = Appetizer ($6 @ $3), Main Course ($14 @ $3-5), Alcohol ($5 @ $1) 0.04 20% $ 25.00 $ 5.00 $ 8.00 $ 1.60
Bill Makeup = Appetizer ($6 @ $3), Main Course ($14 @ $3-5), Alcohol ($5 @ $1), Dessert ($7 @ $4) 0.03125 10% $ 32.00 $ 3.20 $ 12.00 $ 1.20
Margin 70.05% Margin $ 13.363 Revenue $ 19.075 Cost $ 5.713

Revenues

Wine Food
Retail Restaurant Services
Store Counters

Bottles Eataly
$/Tourst $/Tourist Tours
Sold Owned

Glasses Locally
$/Local $/Local Classes
Consumed Owned

Seats +
Traffic Branded
Tables
LEGEND Team 6 Fixed Unit Cost/Revenue Factors
Revenue Streams C Cost Description
Retail Unit Price Volume $/Station Man Hours $/Hr Units $/Unit Season Adj Sensitivity $ (Override) $ Total
Dry Goods 80
Cooking Supplies 10
Giftshop 30
Food Counters Table Type Seats Turnover Bill Size Man Hours $/Hr Units $/Unit Season Adj Sensitivity $ (Override) $ Total
Eataly's own Kiosks
Locally Owned & Operated Kiosks
Major Brand Name Operated Kiosks
Eataly's own Kiosks
Locally Owned & Operated Kiosks
Major Brand Name Operated Kiosks
Restaurant Table Type Seats Turnover Bill Size Man Hours $/Hr Units $/Unit Season Adj Sensitivity $ (Override) $ Total
Food
Alcohol
Bar & Wine Tasting Room Table Type Seats Turnover Bill Size Man Hours $/Hr Units $/Unit Season Adj Sensitivity $ (Override) $ Total
Food
Alcohol
Rooftop Bar & Grill Table Type Seats Turnover Bill Size Man Hours $/Hr Units $/Unit Season Adj Sensitivity $ (Override) $ Total
Tours
Classess
Wine Store
Bottles
Glassess
 Yearly Forecast Ave. Cost Ave. Price Ave. Margin Qty Variable Costs Revenues
1 Food Court Vendors $ 2.52 $ 8.40 70% 1411 People/Day $ 1,354,921.34 $ 4,516,404.48
2 Retail $ 12.64 $ 15.80 20% 605 Cart/Day $ 2,912,620.03 $ 3,640,775.04
2 Wine Store $ 3.42 $ 11.40 70% 323 Bottles/Day $ 420,302.13 $ 2,626,888.32
3 Glassfloor Bar $ 1.48 $ 8.20 82% 524 Drinks/Day $ 294,764.52 $ 1,889,516.16
4 Restaurant $ 5.49 $ 18.31 70% 968 Seats/Day $ 2,025,413.85 $ 4,219,612.19 $ 718.77
5 Rooftop Bar & Grill $ 4.80 $ 16.00 70% 605 People/Day $ 1,106,058.24 $ 3,686,860.80
6 Services (Classess, Tours) $ 5.00 $ 25.00 80% 80 People/Day $ 152,400.00 $ 762,000.00
Total Annual Revenue $ 21,342,056.99
Cost Of Goods Sold $ 8,266,480.12
Unit Contribution $ 13,075,576.87
Fixed Operating Costs $ 10,643,511.61
Net Profit $ 2,432,065.26

CHECK
Potential $/sqft Annual Revenues
Low
(Whole 750 $ 24,000,000.00
Foods)
Target 950 $ 30,400,000.00
Ambitious 1150 $ 36,800,000.00
Projected $ 824.51 $/sqft
 Valuation Calculations / Location
YoY Adj. Factor 1 1 1 1 1 1 1 1 1 1
Year 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Downtown Vancouver $ (11,625,549) $ 2,432,065 $ 2,505,514 $ 2,581,180 $ 2,659,132 $ 2,739,438 $ 2,822,169 $ 2,907,398 $ 2,995,201 $ 3,085,657 $ 3,178,843 $ 3,274,844 $ 3,373,745 $ 3,475,632 $ 3,580,596 $ 3,688,730 $ 3,800,130 $ 3,914,894 $ 4,033,123 $ 4,154,924 $ 4,280,402
Present Values: $ 2,269,564 $ 2,181,883 $ 2,097,588 $ 2,016,550 $ 1,938,643 $ 1,863,746 $ 1,791,742 $ 1,722,521 $ 1,655,973 $ 1,591,996 $ 1,530,492 $ 1,471,363 $ 1,414,518 $ 1,359,870 $ 1,307,333 $ 1,256,826 $ 1,208,270 $ 1,161,590 $ 1,116,713 $ 1,073,570
PV (5yrs + T) $ 56,806,895 Term. Value $ 68,168,323
NPV
(DDM, Perpetuity) $ 45,181,346
PV (10 yrs) $ 19,130,207 Payback Period 6 years
NPV
IRR 23.37%
(10 Years Only) $ 7,504,658
PV (20 yrs) $ 32,030,752 NPV $ 45,181,346
NPV
SQFT 32000
(20 Years Only) $ 20,405,203
NPV/SQFT $ 1,411.92
Annual Revenue $ 21,050,000.00

YoY Adj. Factor 1 1 0.9 1.1 1.05 0.9 1.05 1.07 1.08 1.14
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Downtown Vancouver
32,000 SQFT $ (11,659,550) $ 2,341,400 $ 2,107,260 $ 2,317,986 $ 2,433,885 $ 2,190,497 $ 2,300,022 $ 2,461,023 $ 2,657,905 $ 3,030,012 $ 3,121,518 $ 3,215,788 $ 3,312,905 $ 3,412,954 $ 3,516,026 $ 3,622,210 $ 3,731,600 $ 3,844,295 $ 3,960,392 $ 4,079,996 $ 4,203,212
Present Values: $ 2,184,957 $ 1,835,070 $ 1,883,704 $ 1,845,735 $ 1,550,169 $ 1,518,923 $ 1,516,655 $ 1,528,544 $ 1,626,110 $ 1,563,287 $ 1,502,892 $ 1,444,829 $ 1,389,010 $ 1,335,347 $ 1,283,758 $ 1,234,161 $ 1,186,481 $ 1,140,642 $ 1,096,575 $ 1,054,210
PV (5yrs + T) $ 47,065,351 Term. Value $ 55,556,078
NPV
(DDM, Perpetuity) $ 35,405,801
PV (10 yrs) $ 17,053,154 Payback Period 6 years
NPV
IRR 21.17%
(10 Years Only) $ 5,393,604 35.16%
PV (20 yrs) $ 29,721,058 NPV $ 35,405,801
NPV
SQFT 32000
(20 Years Only) $ 18,061,508 95.61%
NPV/SQFT $ 1,106.43
Annual Revenue $ 21,050,000.00

YoY Adj. Factor 1 1 1.1 0.95 1.05 0.95 1.1 1.1 1.02 0.9
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Uptown Vancouver
24,000 SQFT $ (9,286,100) $ 1,127,000 $ 1,239,700 $ 1,177,715 $ 1,236,601 $ 1,174,771 $ 1,292,248 $ 1,421,473 $ 1,449,902 $ 1,304,912 $ 1,344,320 $ 1,384,919 $ 1,426,743 $ 1,469,831 $ 1,514,220 $ 1,559,949 $ 1,607,060 $ 1,655,593 $ 1,705,592 $ 1,757,101 $ 1,810,165
Present Values: $ 1,051,698 $ 1,079,571 $ 957,066 $ 937,775 $ 831,361 $ 853,394 $ 876,011 $ 833,829 $ 700,304 $ 673,249 $ 647,239 $ 622,233 $ 598,194 $ 575,084 $ 552,866 $ 531,507 $ 510,973 $ 491,232 $ 472,254 $ 454,009
PV (5yrs + T) $ 26,115,410 Term. Value $ 31,213,715
NPV
(DDM, Perpetuity) $ 16,829,310
PV (10 yrs) $ 8,794,259 Payback Period 12 years
NPV
IRR 12.94%
(10 Years Only) $ (491,841)
PV (20 yrs) $ 14,249,848 NPV $ 16,829,310
NPV
SQFT 24000
(20 Years Only) $ 4,963,748
NPV/SQFT $ 701.22
Annual Revenue $ 14,362,000.00

YoY Adj. Factor 1 1 1.1 0.9 1 0.94 1.2 1.1 1.02 0.96
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Suburbs
36,000 SQFT $ (11,755,490) $ 864,000 $ 950,400 $ 855,360 $ 855,360 $ 804,038 $ 964,846 $ 1,061,331 $ 1,082,557 $ 1,039,255 $ 1,070,641 $ 1,102,974 $ 1,136,284 $ 1,170,599 $ 1,205,952 $ 1,242,371 $ 1,279,891 $ 1,318,544 $ 1,358,364 $ 1,399,386 $ 1,441,648
Present Values: $ 806,271 $ 827,639 $ 695,106 $ 648,661 $ 569,001 $ 637,180 $ 654,066 $ 622,572 $ 557,735 $ 536,187 $ 515,472 $ 495,558 $ 476,412 $ 458,007 $ 440,312 $ 423,301 $ 406,948 $ 391,226 $ 376,111 $ 361,581
PV (5yrs + T) $ 19,470,469 Term. Value $ 23,305,461
NPV
(DDM, Perpetuity) $ 7,714,979
PV (10 yrs) $ 6,554,418 Payback Period 20 years
NPV
IRR 6.29%
(10 Years Only) $ (5,201,072)
PV (20 yrs) $ 10,899,346 NPV $ 7,714,979
NPV
SQFT 36000
(20 Years Only) $ (856,144)
NPV/SQFT $ 214.30
Annual Revenue $ 17,978,000.00 $ 499.39

After-tax Cost of
Industry Name Number of Firms Beta Cost of Equity E/(D+E) Std Dev in Stock Cost of Debt Tax Rate Debt D/(D+E) Cost of Capital
Restaurant/Dining 83 0.76 6.83% 79.46% 40.67% 3.52% 18.54% 2.11% 20.54% 5.86%
Retail (Grocery and Food) 17 1.04 8.50% 68.08% 51.57% 4.02% 23.56% 2.41% 31.92% 6.56%
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/wacc.htm

Cost of Equity 6.83%

Cost of Debt 4.02%
Cost of Capital (WACC) 7.16%
Growth Rate (LT Infl Rate) 3.02%
$5,000,000
http://inflationdata.com/Inflation/Inflation_Rate/Long_Term_Inflation.asp Cash Flow Projections
$4,000,000

EBITDA Forecast $3,000,000

$2,500,000
$2,000,000

$2,000,000 Downtown Vancouver $1,000,000

32,000 SQFT
$-
$1,500,000 Uptown Vancouver
$(11,659,550)
24,000 SQFT
$(1,000,000)
Suburbs
$1,000,000 36,000 SQFT
$(2,000,000)
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
$500,000 Cash Flow Projections $(11,659,5 $2,341,400 $2,107,260 $2,317,986 $2,433,885 $2,190,497 $2,300,022 $2,461,023 $2,657,905 $3,030,012 $3,121,518 $3,215,788 $3,312,905 $3,412,954 $3,516,026 $3,622,210 $3,731,600 $3,844,295 $3,960,392 $4,079,996 $4,203,212
Year 1 Year 2 Year 3 Year 4 Year 5

Eataly Downtown Van Valuation Eataly Uptown Van Valuation Eataly Outlet Valuation
 Eataly Downtown Van Valuation Eataly Uptown Van Valuation Eataly Outlet Valuation
$18,000,000 $16,829,310 $10,000,000
Volatile Earnings, WACC 7%
$16,000,000 $7,714,979
$8,000,000
$14,000,000
$40,000,000 $35,405,801 $6,000,000
$12,000,000
$35,000,000
$10,000,000 $4,000,000
$30,000,000
$25,000,000 $8,000,000 $2,000,000
$20,000,000 $18,061,508
$6,000,000 $4,963,748
$15,000,000 $-
$4,000,000 NPV NPV NPV
$10,000,000 $5,393,604 (10 Years Only) (20 Years Only) (DDM, Perpetuity)
$(2,000,000)
$5,000,000 $2,000,000 $(491,841)
$(856,144)
$- $- $(4,000,000)
NPV NPV NPV NPV NPV NPV
(10 Years Only) (20 Years Only) (DDM, Perpetuity) $(2,000,000) (10 Years Only) (20 Years Only) (DDM, Perpetuity) $(6,000,000) $(5,201,072)

Annual Revenues per SQFT

36,000 $214.30

31,000

$1,106.43
26,000

21,000 $701.22

16,000
$10 $12 $14 $16 $18 $20 $22
Millions
Suburbs Uptown Vancouver Downtown Vancouver
36,000 SQFT 24,000 SQFT 32,000 SQFT
 Internal Rate of Return / Location
Valuation Years 20 20 20
DT VAN SUB
Rate NPV NPV NPV 20 Year NPV Profile
0% $ 50,201,335 $ 19,373,712 $ 10,448,310 Growth Rate 3.0%
1.00% $ 44,667,046 $ 17,825,916 $ 9,029,587
$50,000,000
2.00% $ 38,884,858 $ 15,042,741 $ 6,895,902
3.00% $ 33,888,491 $ 12,637,810 $ 5,052,192
4.00% $ 29,555,634 $ 10,552,250 $ 3,453,325
5.00% $ 25,784,790 $ 8,737,207 $ 2,061,846 $40,000,000
6.00% $ 22,491,492 $ 7,152,025 $ 846,586
7.00% $ 19,605,237 $ 5,762,766 $ (218,471)
8.00% $ 17,067,004 $ 4,541,023 $ (1,155,104)
$30,000,000
9.00% $ 14,827,249 $ 3,462,949 $ (1,981,596)
10.00% $ 12,844,260 $ 2,508,465 $ (2,713,339) $19,605,237 @

Net Present Value (Year 0)

11.00% $ 11,082,820 $ 1,660,620 $ (3,363,328) 7% Cost of Equity
12.00% $ 9,513,116 $ 905,065 $ (3,942,565) $20,000,000
13.00% $ 8,109,836 $ 229,616 $ (4,460,389)
14.00% $ 6,851,433 $ (376,098) $ (4,924,752) DT
15.00% $ 5,719,516 $ (920,931) $ (5,342,441) VAN
$10,000,000
16.00% $ 4,698,341 $ (1,412,459) $ (5,719,265) $5,762,766
SUB
17.00% $ 3,774,399 $ (1,857,185) $ (6,060,208)
18.00% $ 2,936,066 $ (2,260,705) $ (6,369,562) $(218,471)
19.00% $ 2,173,314 $ (2,627,845) $ (6,651,025) $-
20.00% $ 1,477,469 $ (2,962,780) $ (6,907,799)
21.00% $ 841,011 $ (3,269,131) $ (7,142,658)
22.00% $ 257,401 $ (3,550,043) $ (7,358,016)
$(10,000,000)
23.00% $ (279,059) $ (3,808,260) $ (7,555,975)
24.00% $ (773,345) $ (4,046,178) $ (7,738,372)
25.00% $ (1,229,817) $ (4,265,895) $ (7,906,814)
26.00% $ (1,652,303) $ (4,469,252) $ (8,062,716) $(20,000,000)
27.00% $ (2,044,168) $ (4,657,871) $ (8,207,318)
28.00% $ (2,408,383) $ (4,833,181) $ (8,341,717)
29.00% $ (2,747,573) $ (4,996,445) $ (8,466,881)
30.00% $ (3,064,064) $ (5,148,783) $ (8,583,670)
Name Notes Sqft Typical Start-Up Costs Typ. Op Costs Typ. Revenue NPV
Bakery incl shelves 1200 4% $ 465,021.96 $ 445,188.44 $ 516,160.51 $ 1,091,014.68
Coffee Shop incl seating 1100 3% $ 348,766.47 $ 561,324.56 $ 645,200.64 $ 1,289,380.98
Quick Service Counters incl seating 1100 5% $ 581,277.45 $ 600,036.60 $ 709,720.70 $ 1,686,113.59
Restaurant incl kitchen 8086 17% $ 1,976,343.33 $ 3,848,286.31 $ 4,219,612.19 $ 5,708,188.79
Retail Store 9703 21% $ 2,441,365.29 $ 3,436,891.64 $ 3,640,775.04 $ 3,134,187.62
Rooftop Bar & Grill 6400 15% $ 1,743,832.35 $ 2,212,116.48 $ 2,580,802.56 $ 5,667,608.71
Signature Bar 5037 8% $ 871,916.17 $ 1,532,775.51 $ 1,889,516.16 $ 5,483,978.19
Wine Bar 800 4% $ 465,021.96 $ 1,176,845.97 $ 1,208,368.63 $ 484,580.54
Wine Store 1800 6% $ 639,405.19 $ 1,723,238.74 $ 1,838,821.82 $ 1,776,795.33

Cost of Capital 5%
# of Years Business Runs 30

Price / Unit Cost / Unit Gross Margin Typical Sqft. NPV/SQFT Unique Offering
Quick Service Counters 9 2.7 70% 1100 $ 1,532.83 Quick, Healthy
Coffee Shop 4 1.5 63% 1100 $ 1,172.16 Lavazz, An Italian Experience
Signature Bar 7 1.62 77% 5037 $ 1,088.83 Signature Cocktails
Wine Store 9 4.7 48% 1800 $ 987.11 Wide Selection of Italian Wines
Bakery 5 1.2 76% 1200 $ 909.18 Authentic Italian Sweets
Rooftop Bar & Grill 14 4.2 70% 6400 $ 885.56 A get away within the City
Full Service Restaurant 17.17 4.29 75% 8800 $ 705.96 Authentic & Seasonal Offerings
Wine Bar 7 1.26 82% 800 $ 605.73 Wide Selection of Italian Wines
Retail 28.5 22.23 22% 9703 $ 323.02 Italian Grown Fresh Produce

Traffic/Day 7:00:00 AM 8:00:00 AM 9:00:00 AM 10:00:00 AM 11:00:00 AM 12:00:00 PM 1:00:00 PM 2:00:00 PM 3:00:00 PM 4:00:00 PM 5:00:00 PM 6:00:00 PM 7:00:00 PM 8:00:00 PM 9:00:00 PM #########
Bakery
Coffee Shop
Quick Service Counters
Restaurant
Retail Store
Rooftop Bar & Grill
Signature Bar
Wine Bar
Wine Store
REF
[1]
http://www.fastcompany.com/3039588/most-innovative-companies-2015/eataly
[2]
https://rctom.hbs.org/submission/eat-shop-and-learn-how-eataly-became-a-cash-cow/
[3]
http://www.fastcompany.com/3041563/most-innovative-companies-2015/eataly-charms-the-world-with-italian-fare-and-flair - 2015
[4]
http://www.fastcompany.com/3041563/most-innovative-companies-2015/eataly-charms-the-world-with-italian-fare-and-flair - 2015

Chicago (building cost New York (40% customers Italy, Turin

$20M) 2 floors are tourists)

$50M / annual revenue[1] $85M / annual revenue[2] Approx.. $50M (gross

sales)
63,000 SQF [3]50,000 SQF 110,000 SQF[4]

$50M/63,000=794 1700 sales/SQF 456 sales/SQF

sales/SQF
9 Restaurants 7 Restaurants (Rooftop &
Microbrewery Restaurant)

21 Retail Departments
10,000 Products
6 on-site production
laboratories
1 Classroom and 1 Cooking school /
conference room Celebrity Chef

Opened in 2013 Opened in 2010 Opened in 2007

Located in the shopping

district attracts 8000 to
10000 guests each
weekday, 12000 to 13000
per day on weekend

50-50 split between locals

and out-of-tonwers >
25000 people dinning
every week

Revenue Streams Price Range

Kiosk (Pasta) $13-16 http://blogs.ubc.ca/eataly/files/2016/05/2016-05-22-16.20.33.jpg (& picture below)
Pizza $10-22 https://www.zomato.com/chicago/la-pizza-la-pasta-eataly-river-north/menu
Vegetarian $9 - 20 https://morewinelesswhines.files.wordpress.com/2013/12/img_2219.jpg
Pastry/Desserts $5 -18 http://talesofatraveler.com/wp-content/uploads/2012/09/212.jpg
Nutella $2.8 -5.8 http://midtownlunch.com/files/2014/05/Nutella-Bar-Menu.jpg
Panini $6.2 9.2 https://s3-media3.fl.yelpcdn.com/bphoto/Kfefxifk88FZlCPC8EPjaw/o.jpg
Bar menu $6-18 https://www.eataly.com/wp/wp-content/uploads/2015/06/Gran-Bar_12-03-2014.pdf
Coffee and Tea $3.5-4.5 http://4.bp.blogspot.com/-67y9Jc_JkHE/TZfRM3LfkfI/AAAAAAAALTw/6pfHFcapaKw/s640/eataly1.jpg
Ice Cream $2.8-5.8 https://www.eataly.com/wp/wp-content/uploads/2015/06/Gelato_07.17.16.pdf
$7-22 https://www.eataly.com/wp/wp-content/uploads/2015/05/Birreria_Summer_08.09.16.pdf
Restaurant (Birreria) / Brewery
$6-98
Wine $7.8-33.8 http://blogs.ubc.ca/eataly/files/2016/05/2016-05-22-17.05.18-e1465078942221.jpg
Culinary Class $25-125 https://www.eataly.com/us_en/classes-and-events
Grocery Items lower than Eat
$3.40
Dry Pasta http://blogs.ubc.ca/eataly/files/2016/05/2016-05-22-16.03.43-e1464626729331.jpg
9.8
Pasta Dressing $4 Anns Photos On Blog
Vinegar $6 Anns Photos On Blog
Produce Anns Photos On Blog
Bottle Drinks $12.80 Anns Photos On Blog
Yeast $7.80 Anns Photos On Blog

Olive $6.8-12.8 Anns Photos On Blog

Black Truffles &

$9.80 Anns Photos On Blog
Mushrooms Can
T-shirt $4 12.8 Anns Photos On Blog

Board Game $9 Anns Photos On Blog

Color Mat $25.80 Anns Photos On Blog
Price Range (Gift Set) $47-100 https://www.eataly.com/us_en/gifts/gift-boxes