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Coleman's 2011 Underwriting Guide for Full Service
Restaurants is a
must-have for your Small Business Underwriter and Chief Credit Officer who
are making recommendations and the tough decisions about the best small business risks.
Reading Coleman's Full Service Restaurant Guide is a
simple and easy way to become well versed in the growth opportunities as well as
potential threats in the restaurant industry.
Our "Conversation Starters" section will
help you uncover information not easily found on financial statements.
COLEMAN'S 2011 Underwriting Guide
Full Service Restaurants
Would you like to hear today's specials? The chef has prepared
Restaurant Valuation, served on a bed of Expertise accompanied
by a side of fresh Industry-Specific Analysis. For desert, we
are featuring a trio of "Conversation Starters", "Rules of
Thumb" and "Transaction Data".
Underwriting Guide for Full Service Restaurants offers a menu of options for
evaluating the financial stability and operational viablity of restaurants
seeking small business loans.
Underwriting Guide Series makes it easy for you to become an expert
in a variety of industries in a short amount of time -- ensuring that you can identify well-run businesses and good loan risks using
just a few key metrics. Bankers are experts in reading financial
statments, but underwriters may not have the breadth of knowledge to
accurately assess ALL the factors that might impact credit-worthiness.
Our industry-specific Underwriting Guides are an excellent way to bring you and your staff
up to speed and thoroughly understand a specific industry, its current
economic condition and potential future trends.
The 478 page Full Service Restaurant Guide has over 300 pages of recent transaction data derived from
ACTUAL RESTAURANT SALES across the nation and independent, third-party data
in addtion to 18 pages of financial analysis and benchmarks for valuation
PLUS survey responses from owners and industry experts on a variety of
Financial data elements are extrapolated from US Census Reports
including: Quarterly Financial Reports, County Business Patterns Report, and
Quarterly Services Survey as well as corporate income tax returns and a
variety of credit reporting agency reports.
Industry Synopsis - RESTAURANTS: The
U.S. industry includes about 480,000 restaurants with a combined annual
revenue of about $375 billion. The industry is highly fragmented with
50 of the largest companies holding just 20% of the market. The
industry consists of Full Service Restaurants (FSR's) and limited service
eating establishments which includes quick serve restaurants (QSR's),
cafeterias, buffets, snack bars and non-alcoholic beverage bars. Most
QSR's are fast food chains but QSR's also include "fast casual" which offer
higher quality, more expensive food without table service. FSR's
include casual dining, family dining and fine dining. FSR's rely heavily on
high-margin menu items and effective marketing. Profitability of QSR's
relies on efficient operations and high volume sales. The industry
includes national and regional chains, franchises and independent operators.
The majority of restaurants are independently owned and operated.
Annual sales average $866,000 for FSR's and $717,000 for QSR's.
Alchoholic beverages are important contributors to total sales, particularly
for FSR's. Restaurants appeal to a broad demographic, sales are
slightly seasonal and cash flow is not a problem. Cost accounting is
important in tracking the profitability of specific menu items. Gross
margins are approximately 60% of sales. For FSR's, food/beverage and
payroll costs are each 1/3 of sales with credit card fees at 2% of sales.
Due to a slowed economy, consumers are eating out less frequently but
restaurant sales growth grew modestly between 2008 and 2010 due to an
average restaurant pricing increase of 9%.
The 2011 Underwriting Guide offers small
business lenders 478 pages of simple and easy-to-understand data and
industry-wide analysis on the FULL SERVICE RESTAURANT sector including:
trends and indicators
-Cash flow and solvency
-Industry performance benchmarks
-Industry forecast and growth ratings
-Industry compliance requirements and costs necessary to achieve compliance:
-Industry employment growth
transaction data and comps
*PLUS - "Conversation Starters" -- a special
section in our guides that suggest industry-specific questions you should ask
loan applicants to better understand their business model and
their credit-worthiness. For example:
"How have changes in food and beverage costs affected the company's
"What kind of relationship do you have with your suppliers?"
"How are inventory write-offs minimized?"
"What percentage of sales come from gift cards, if at all?"
"If the company is a franchise, what does the franchise agreement
"How effective are local marketing initiatives? Customer loyalty
Coleman Publishing, the
recognized leader in small business lending has partnered with BVR, the leader
in business valuation to bring you the 2011 Underwriting Guide Series. The entire library consists of 30 volumes, representing industries such as: hotels/motels, daycare centers, auto dealers, law firms, architecture and engineering firms, quick serve restaurants and casual dining restaurants, just to name a few.
Individual volumes are sold for $395 and the entire 30 volume library is available for $8950.
La Canada, CA
Bob has appeared on Fox Business News (Your Business, Your Money; The Willis Report; Morning News) and CNN (CNN Money) and has been quoted by most major financial media outlets including the
Wall Street Journal, New York Times and Bloomberg. Bob has been a keynote, panel speaker, or moderator at numerous small business banking events across the United States and internationally including the International Council of Shopping Centers; Franchise Leadership Forum; WPA Association of Guaranteed Lenders; Florida Statewide Small Business Lenders Conference; International Franchise Association; National Association of Black Hotel Owners; Operators & Developers; America East and Mid Atlantic Lenders Conferences; NPR Marketplace; and the Main Street Initiative. Bob Coleman earned his M.B.A. in Real Estate Finance from the University of Southern California.
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