8/10/2019 Assumption Sheet Financial Model

1/5

Jan Burger Financial Model - Assumptions

Jan Burger Level Assumptions

General Assumptions

1. Capex. for new store will be started 2 quarters prior the opening quarter of the stores2. Capex. for new office will be started one quarter prior to the opening quarter

3. Other asset are assumed to remain same as current balance sheet till 2019

4. No interest is being paid on the loan from holding company

5. No repayment is done to holding company till 2019, no dividend is distributed till 2019

6. Delivery service is assumed to be started from Q1 2016

7. All the expenses per store are assumed to increase by inflation every year

8. Rent expense, utility expense, maintenance, admin and overhead expense is taken

by using average of last 6 months

Number based assumptions

Average sales per store per day

Inflation (YoY till 2019)

Annual sales growth

Food cost as % of sales

Paper cost as % of sales

No. of stores per regional manager

No. of stores per area manager

Marketing expense as % of sales

No. of stores per store accountant

No. of stores per corporate office

No. of days of payable

No. of days of inventory

Increase in average sales due to new product launch

Increase in average sales due to delivery serviceAverage store ticket size in Q1 2014

Sales Cohert Matrix

Quarter

1st quarter

2nd quarter

3rd quarter and beyond

Delivery Calculation Assumptions

General Assumptions

Delivery service is assumed to be started from Q1 2016

Numbers based Assumptions

Average ticket size (Q4 2014)

Average opening hours of a store

No. of delivery orders as % of total orders in 2016

Annual Increase in delivery orders

No. of delivery orders in peak hour as % of avg. delivery order

Max no. of order delivery per driver per hour

Monthly salary of a driver

8/10/2019 Assumption Sheet Financial Model

2/5

Avg. vehicle price

Useful life of vehicle

Avg. maintenance cost per vehicle per quarter as % total cost

Avg. petrol expense per vehicle per day

Increase in average sales due to delivery service

8/10/2019 Assumption Sheet Financial Model

3/5

Factory Level Assumptions

General Assumptions

1. Warehouse rent is taken by calculating average of 6 warehouse2. Accrued expense is assumed to remain same as current balance sheet till 2019

3. Other assets are assumed to remain same as current balance sheet till 2019

4. No repayment of debt is done till 2019

5. Capex. start for factory is three quarter before of opening quarter

6. Capex. start for warehouse is one quarter before of opening quarter

7. All the expenses per store are assumed to increase by inflation every year

8. Rent expense, utility expense, maintenance, admin and overhead expense is taken

by using average of last 6 months

Number based assumptions

5200 Riyal No. of stores per factory

3% Factory gross margin

5% Cost of food & paper as % of cost of sales of stores

38.9% No. of days of payable

2.60% No. of days of inventory

15 No. of stores per warehouse

5 Useful life of production machine

1% Useful life of constructions

15

100

30

7

5%

5%31.5

Cohert factor

0.8

0.9

1

31.5 riyal

12

15%

3%

200%

5

4000 Riyal

8/10/2019 Assumption Sheet Financial Model

4/5

25000 Riyal

10 Years

5%

20 Riyal

5%

8/10/2019 Assumption Sheet Financial Model

5/5

200

5%

83%

30

60

100

10

20