I need help for proforma financials.
Step 1: Identify Revenue Sources
Based on your business model and the results from your reality check, develop an updated revue projection for the first two years of operation (monthly) and for Years 3-5 (annually).
Step 2: Identify Costs
Based on your business model develop an updated cost projection for the first two years of operation (monthly)and for Years 3-5 (annually).
Step 3: Create Your Pro-Forma Financials Deliverable
This should be submitted to the assignment drop-box, as explained below in the Assignment Submission Instructions section. The deliverable has three major sections:
Service Concept
Chef Select is a(n) online/mobile application, designed to bridge the gap between independent chefs with the community, or consumer base. Primarily, the app accomplishes this by providing an easy-to-use platform that encourages small-time, or independent, chefs and culinary hobbyists to connect and offer an alternative, healthier option to ordering food. Chef Select aims to push this collaboration and help spark innovation among the chefs and their communities. Additionally, the app hopes to break the mediocracy of modern restaurant menu selection and offer culturally diverse cuisines to people, who otherwise would not be afforded the opportunity.
Revenue Projection
Provide revenue projections as described above. Explain your projections and indicate your time to first dollar.
P&L Projection
Subtract your expected costs from your expected revenues to create P&L statements for the same periods. Explain your projections and indicate your time to first profit.
Cash Flow Projection
Start with your Beginning Cash, add Net Income from your P&L and adjust for non-cash items or payments not yet made/received. Be sure to show anticipated funding sources