Appendix One (Construct or lease) Methodology: The consulting team is proposing to perform a NPV analysis and determine the benefit to leasing or construction. Based on the analysis, they will recommend the preferred option (construction or leasing). CASE It was a regular working day in April '21, when four business partners gathered for a strategy session for their organization: We Love Wraps (WLW). Background: WLW operated a chain of Quick Service Restaurants (QSR) in business localities in the GTA, Mississauga, Brampton, Oakville, Kitchener, Waterloo, and Cambridge. Their first outlet opened in 2007 in Vaughn and then continued to expand to other areas. WLW outlets offered food and beverages for takeout and delivery only. There was no dine in option available. Rapid expansion of the food delivery service provided a strong headwind for WLW. Since their outlets did not require a prominent location, the leasing costs were minimized. The above factors contributed to the success and growth of WLW till Covid struck in early 2020. Most of the revenue generated by WLW was from lunch items, afternoon snacks, and early evening dinners consumed by clients working in their offices. With 90% of clients working from home, the demand for such services almost disappeared overnight. WLW had to downsize its operations, close outlets, and lay off nearly 60% of its workforce. Positive news began to appear in April ' 21 with the arrival of vaccines in Canada. Both the Federal and Provincial governments expressed confidence in vaccinating most of the population by Fall ' 21 and allow restaurants to function normally by November ' 21