Starting Point

A. Payroll Forecast

2021-22
# of FT # of PT
Employees Employees
Management 3 -
Operations 1 -
Marketing 1 -
BDM 1 -
Customer Service 1 -
Sales 1 -
Logistics 1 -
Finance 1 -
IT 1 -
Total # of Employees 11 -

B. Sales Forecast

2021-22 2022-23

Monthly Order Growth Rates Fluctuating 15%

Monthly Order Growth Rates (For Data Validation) 15%

Monthly Chef Onboarding Growth Rates 5%

No of Chefs 70 126

Delivery Fee Structure

Charge from Customer
Payment to Driver
Commission to KitchKo
 80%
# of Chefs 70 126
# of Leads 778 1397

40%
0.20

Marketing & Sales

CAC Year 2 Year 3 Year 4 Year 5

Chefs $60.00 $45.00 $30.00 $15.00
Customers $10.00 $7.50 $5.00 $3.50
Drivers $10.00 $8.00 $6.00 $4.00

C. Expense Forecasting

Platform Expenses

Particulars Pre-Ops Jul-21

App Maintenance $ - $ -
HyperLink $ 3,000.00 $ 192.80
Crazy Domains $ 586.00 $ 18.92
WebHook Integration $ - $ 5.00
Website Hosting $ - $ 25.00
JotForm $ - $ 25.00
JungleWorks $ - $ 1,929.00
Digital Ocean $ 1,200.00 $ 108.00
Call Tracking $ - $ 25.00
ZenDesk $ - $ 400.00
App Store payment $ 67.50 $ 11.25
Total $ 4,853.50 $ 2,739.97
What are the no of leads? For Chefs, Customers, Drivers
Conversion rates
Is the # of Customers in sheet the new no of customers, or total no of customers

CAC = Cost of acquiring new customers/ No of New customers

LTV No of months with Kitchko

Total no of Orders in their lifetime
Total order value

Churn Rates
 2022-23
# of FT # of PT
Employees Employees
3 -
1 -
1 -
1 1
2 -
2 1
1 -
1 -
1 1
13 3 20
2023-24 2024-25
# of FT # of PT # of FT # of PT
Employees Employees Employees Employees
3 - 3 -
2 - 2 -
2 - 3 -
2 - 2 1
3 1 4 2
3 - 4 -
2 - 2 -
1 - 1 1
2 - 2 1
1 23 5

2023-24 2024-25 2025-26 2026-27

12% 9% 7% 5%
12% 9% 7% 5%

4% 3% 2.5% 2.5%
201 287 386 519

First 4 km Every add. km

6.99 1.50
6.79 1.40
0.2 0.1
 60% 43% 34% 34%
201 287 386 519
2236 3188 4288 5767

60%
0.02 9.20%

Year 6
$10.00
$2.50
$4.00

Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22

$ - $ - $ - $ - $ - $ -
$ 192.80 $ 192.80 $ 192.80 $ 192.80 $ - $ -
$ 18.92 $ 18.92 $ 18.92 $ 18.92 $ 18.92 $ 18.92
$ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00
$ 25.00 $ 25.00 $ 25.00 $ 25.00 $ 25.00 $ 25.00
$ 25.00 $ 25.00 $ 25.00 $ 25.00 $ 25.00 $ 25.00
$ 1,613.00 $ 1,435.00 $ 1,500.00 $ 1,500.00 $ 1,500.00 $ 1,500.00
$ 110.00 $ 110.00 $ 110.00 $ - $ - $ -
$ 25.00 $ 50.00 $ 50.00 $ 50.00 $ 50.00 $ 50.00
$ 400.00 $ 400.00 $ 400.00 $ 400.00 $ 400.00 $ 400.00
$ 11.25 $ 11.25 $ 11.25 $ 11.25 $ 11.25 $ 11.25
$ 2,425.97 $ 2,272.97 $ 2,337.97 $ 2,227.97 $ 2,035.17 $ 2,035.17
 2025-26 2026-27
# of FT # of PT # of FT # of PT
Employees Employees Employees Employees
3 - 3
3 - 3 -
3 - 4 -
3 1 4 -
6 - 6 -
5 - 6 -
2 1 3 1
2 1 3 -
3 1 4 -
30 4 36 1
 Feb-22 Mar-22 Apr-22 May-22 Jun-22 2021-22 Total
$ - $ - $ - $ 2,400.00 $ 2,400.00 $ 4,800.00
$ - $ - $ - $ - $ - $ 964.00
$ 18.92 $ 18.92 $ 18.92 $ 18.92 $ 18.92 $ 227.00
$ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 60.00
$ 25.00 $ 25.00 $ 25.00 $ 25.00 $ 25.00 $ 300.00
$ 25.00 $ 25.00 $ 25.00 $ 25.00 $ 25.00 $ 300.00
$ 1,500.00 $ 1,500.00 $ 1,500.00 $ 1,500.00 $ 1,500.00 $ 18,477.00
$ - $ - $ - $ - $ - $ 438.00
$ 50.00 $ 50.00 $ 50.00 $ 50.00 $ 50.00 $ 550.00
$ 400.00 $ 400.00 $ 400.00 $ 400.00 $ 400.00 $ 4,800.00
$ 11.25 $ 11.25 $ 11.25 $ 11.25 $ 11.25 $ 135.00
$ 2,035.17 $ 2,035.17 $ 2,035.17 $ 4,435.17 $ 4,435.17 $ 31,051.00
Payroll Year 1

# of PT
# of FT employees employees per
Departments per Dept. Dept.
Management 3 -
Operations 1 -
Marketing 1 -
BDM 1 -
Customer Service - 1
Sales 1 -
Logistics 1 -
Finance 1 -
IT 1 -
Total Salary 10 1

Wage Base
Payroll Taxes and Benefits Limit
Payroll Taxes --
SuperAnnuation --
Employee Stock Option Plans --
Other Employee Benefit Programs --
Total Payroll Taxes and Benefits

Total Salaries and Related Expenses

Average
Monthly Total Monthly
Salary per Pay per
Employee Department Pre-Ops Jul-21 Aug-21
5292 15875 $ - $ - $ -
5000 5000 $ 4,800.00 $ 800.00 $ 800.00
7083 7083 $ 3,900.00 $ 650.00 $ 650.00
5833 5833 $ - $ - $ -
833 833 $ - $ - $ -
5833 5833 $ - $ 800.00 $ 800.00
5833 5833 $ - $ - $ -
5417 5417 $ - $ - $ -
8333 8333 $ 5,760.00 $ 960.00 $ 960.00
49458 60042 $ 14,460.00 $ 3,210.00 $ 3,210.00

Estimated Taxes
Percentage of & Benefits/Month
Salary (Total) Pre-Ops Jul-21 Aug-21
4.85% 23,987.29 - - -
10.00% 49,458.33 - - -
0% - - - -
0% - - - -
14.85% 73,445.63 - - -

133,487.29 14,460.00 3,210.00 3,210.00

 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22
$ - $ - $ - $ - $ - $ -
$ 800.00 $ 800.00 $ 800.00 $ 800.00 $ 800.00 $ 800.00
$ 650.00 $ 650.00 $ 650.00 $ 650.00 $ 650.00 $ 650.00
$ - $ - $ - $ - $ - $ -
$ - $ - $ - $ - $ - $ -
$ 800.00 $ 800.00 $ 800.00 $ 800.00 $ 800.00 $ 800.00
$ - $ - $ - $ - $ - $ -
$ - $ 800.00 $ 800.00 $ 800.00 $ 800.00 $ 800.00
$ 960.00 $ 960.00 $ 960.00 $ 960.00 $ 960.00 $ 960.00
$ 3,210.00 $ 4,010.00 $ 4,010.00 $ 4,010.00 $ 4,010.00 $ 4,010.00

Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22

- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

3,210.00 4,010.00 4,010.00 4,010.00 4,010.00 4,010.00

 Mar-22 Apr-22 May-22 Jun-22 Annual Totals
$ 15,875.00 $ 15,875.00 $ 15,875.00 $ 15,875.00 $ 63,500.00
$ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 26,400.00
$ 7,083.33 $ 7,083.33 $ 7,083.33 $ 7,083.33 $ 33,533.33
$ 5,833.33 $ 5,833.33 $ 5,833.33 $ 5,833.33 $ 23,333.33
$ 833.33 $ 833.33 $ 833.33 $ 833.33 $ 3,333.33
$ 5,833.33 $ 5,833.33 $ 5,833.33 $ 5,833.33 $ 29,733.33
$ 5,833.33 $ 5,833.33 $ 5,833.33 $ 5,833.33 $ 23,333.33
$ 5,416.67 $ 5,416.67 $ 5,416.67 $ 5,416.67 $ 25,666.67
$ 8,333.33 $ 8,333.33 $ 8,333.33 $ 8,333.33 $ 41,013.33
$ 60,041.67 $ 60,041.67 $ 60,041.67 $ 60,041.67 $ 269,846.67

Mar-22 Apr-22 May-22 Jun-22 Annual Totals

23,987.29 23,987.29 23,987.29 23,987.29 95949
49,458.33 49,458.33 49,458.33 49,458.33 197833
- - - -
- - - -
73,445.63 73,445.63 73,445.63 73,445.63 293783

133,487.29 133,487.29 133,487.29 133,487.29 563,629.17

Payroll Years 1-6
Year 1

Departments
# of FT
Total Annual employees per
Pay per Dept Dept.
Management 63500 3
Operations 26400 1
Marketing 33533 1
BDM 23333 1
Customer Service 3333
Sales 29733 1
Logistics 23333 1
Finance 25667 1
IT 41013 1
Total 269847 10
Payroll Taxes and Benefits Year 1 Totals
Payroll Taxes 95,949
SuperAnnuation 197,833
Employee Stock Option Plans -
Other Employee Benefit Programs -
Total Payroll Taxes and Benefits 293,783

Total Salaries and Related Expenses 563,629

Year 1 Year 2 Year 3

# of PT # of FT # of PT # of FT
employees per Total Annual employees per employees per Total Annual employees per
Dept. Pay per Dept Dept. Dept. Pay per Dept Dept.
- 225000 3 - 225000 3
- 75000 1 - 150000 2
- 75000 1 - 150000 2
- 112500 1 1 150000 2
1 187500 2 1 225000 3
- 75000 1 - 150000 2
- 75000 1 - 75000 1
- 112500 1 1 150000 2
- 150000 2 - 262500 3
1 1087500 13 3 1537500 20
r 1 Totals Year 2 Year 3
95,949 124,734 191,8
197,833 257,183 395,6
- -
- -
293,783 381,917 587,5

563,629 1,469,417 2,125,0

ear 3 Year 4 Year 5

# of PT # of FT # of PT
employees per Total Annual employees per employees per Total Annual
Dept. Pay per Dept Dept. Dept. Pay per Dept
- 225000 3 225000
- 150000 2 - 225000
- 225000 3 - 225000
- 187500 2 1 262500
- 300000 4 - 375000
- 150000 2 - 187500
- 112500 1 1 187500
- 187500 2 1 262500
1 375000 4 2 450000
1 1912500 23 5 2400000
ear 3 Fourth Year Fifth Year
191,898 220,683 28
395,667 455,017 59
- -
- -
587,565 675,700 88

2,125,065 2,588,200 3,28

 Year 5 Year 6

# of FT # of PT # of FT # of PT
employees per employees per Total Annual employees per employees per
Dept. Dept. Pay per Dept Dept. Dept.
3 225000 3
3 - 225000 3 -
3 - 300000 4 -
3 1 300000 4 -
5 - 450000 6 -
2 1 262500 3 1
2 1 225000 3 -
3 1 300000 4 -
6 - 450000 6 -
30 4 2737500 36 1
Fifth Year Sixth Year
287,848 345,417
593,500 712,200
- -
- -
881,348 1,057,617

3,281,348 3,795,117
Sales Forecast Yr I

Particulars Pre-Ops
No of Orders -
Total Order Value $ -
Total Order Commission $ -
Total Delivery Commission $ -
Experience Set Box $ -
Onboarding Fee Revenue ($199 from Oct'21) $ -
Packaging Revenue (35c per order from Oct '21) $ -
Other Revenue Sources (Insurance) $ -
Total Revenue $ -

Chefs Onboarded Per Month 19

Cumulative Chefs 19

No of orders
 Jul-21 Aug-21 Sep-21 Oct-21
16.67 30.00 62.00 62.00
$ 1,000.00 $ 2,500.00 $ 4,100.00 $ 4,960.00
$ 200.00 $ 500.00 $ 902.00 $ 1,091.20
$ 279.35 $ 335.23
$ - $ - $ - $ -
$ - $ 485.00 $ 297.00 $ 597.00
$ - $ - $ - $ 43.40
$ - $ - $ -
$ 200.00 $ 985.00 $ 1,478.35 $ 2,066.83

0 3 3 3
19 22 25 28

30 62 62
 Nov-21 Dec-21 Jan-22 Feb-22
99.20 128.96 167.65 217.94
$ 5,952.00 $ 7,737.60 $ 10,058.88 $ 13,076.54
$ 1,309.44 $ 1,702.27 $ 2,514.72 $ 3,269.14
$ 402.27 $ 482.72 $ 579.27 $ 695.12
$ - $ - $ - $ -
$ 796.00 $ 796.00 $ 796.00 $ 995.00
$ 69.44 $ 90.27 $ 117.35 $ 152.56

$ 2,577.15 $ 3,071.27 $ 4,007.34 $ 5,111.82

4 4 4 5
32 36 40 45

99.2 148.8 223.2

 Mar-22 Apr-22 May-22 Jun-22
283.33 368.32 478.82 622.47
$ 16,999.51 $ 22,099.36 $ 28,729.17 $ 37,347.92
$ 4,249.88 $ 5,524.84 $ 7,182.29 $ 9,336.98
$ 834.15 $ 1,000.98 $ 1,201.17 $ 1,441.41
$ - $ - $ - $ -
$ 995.00 $ 1,194.00 $ 1,393.00 $ 1,393.00
$ 198.33 $ 257.83 $ 335.17 $ 435.73

$ 6,277.35 $ 7,977.64 $ 10,111.64 $ 12,607.11

5 6 7 7
50 56 63 70
 Category
2021-22 Total Totals
2537.35
$ 154,560.98
$ 37,782.76 66.91%
$ 7,251.67 12.84%
$ - 0.00%
$ 9,737.00 17.24%
$ 1,700.08 3.01%
$ - 0.00%
$ 56,471.51 100.00%
Sales Forecast Yr 1-6
Yr 1

Annual Totals
Particulars 2021-22 Jul-22
No of Orders 2,537 747
Total Order Value 154,561 37,348
Total Order Commission 37,783 9,337
Total Delivery Commission 7,252 1,586
Experience Set - -
Onboarding Fee Revenue ($199 from O 9,737 1,462.65
Packaging Revenue (35c per order from 1,700 522.87
Other Revenue Sources (Insurance) - -
Total Revenue 56,472 12,908

No of Customers X
Growth Rate 10%
Churn Rate 3%
 Yr 2

Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23

881 1,022 1,166 1,329 1,515 1,742
44,071 51,122 58,279 66,438 75,739 87,100
11,018 12,780 14,570 16,609 18,935 21,775
1,744 1,919 2,110 2,321 2,554 2,809
- - - - - -
1,535.78 1,612.57 1,693.20 1,777.86 1,866.75 1,960.09
616.99 715.71 815.90 930.13 1,060.35 1,219.40
- - - - - -
14,915 17,027 19,189 21,639 24,415 27,763

(x*1.1) - (x*1.03)
 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Annual Totals
2,003 2,304 2,649 3,047 3,504 21,909
100,165 115,190 132,468 152,339 175,189 1,095,448
25,041 28,797 33,117 38,085 43,797 273,862
3,090 3,399 3,739 4,113 4,524 33,906
- - - - - -
2,058.10 2,161.00 2,269.05 2,382.50 2,501.63 23,281
1,402.31 1,612.66 1,854.56 2,132.74 2,452.65 15,336
- - - - - -
31,591 35,970 40,979 46,712 53,275 346,385
 Yr 3

Category
Totals Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23
3,924 4,395 4,923 5,513 6,175 6,916
196,212 219,758 246,129 275,664 308,744 345,793
79.06% 49,053 54,939 61,532 68,916 77,186 86,448
9.79% 4,976 5,474 6,021 6,623 7,286 8,014
0.00% - - - - - -
6.72% 2,601.69 2,705.76 2,813.99 2,926.55 3,043.61 3,165.36
4.43% 2,746.97 3,076.61 3,445.80 3,859.30 4,322.41 4,841.10
0.00% - - - - - -
100.00% 59,378 66,196 73,813 82,325 91,837 102,469
Yr 3

Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24

7,746 8,675 9,716 10,882 12,188 13,651
387,288 433,763 485,814 544,112 609,405 682,534
96,822 108,441 121,454 136,028 152,351 170,633
8,816 9,697 10,667 11,733 12,907 14,197
- - - - - -
3,291.97 3,423.65 3,560.60 3,703.02 3,851.14 4,005.19
5,422.03 6,072.68 6,801.40 7,617.57 8,531.67 9,555.48
- - - - - -
114,352 127,634 142,482 159,082 177,641 198,392
 Category
Annual Totals Totals Jul-24 Aug-24 Sep-24 Oct-24
94,704 14,879 16,218 17,678 19,269
4,735,215 595,170 648,735 707,121 770,762
1,183,804 84.82% 148,792 162,184 176,780 192,690
106,411 7.62% 15,617 17,179 18,897 20,787
- 0.00% - - - -
39,093 2.80% 4,125.34 4,249.10 4,376.58 4,507.87
66,293 4.75% 10,415.47 11,352.86 12,374.62 13,488.33
- 0.00% - - - -
1,395,600 100.00% 178,950 194,965 212,428 231,473
 Yr 4

Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25

21,003 22,894 24,954 27,200 29,648 32,316
840,130 915,742 998,159 1,087,993 1,185,913 1,292,645
210,033 228,936 249,540 271,998 296,478 323,161
22,865 25,152 27,667 30,434 33,477 36,825
- - - - - -
4,643.11 4,782.40 4,925.87 5,073.65 5,225.86 5,382.64
14,702.28 16,025.49 17,467.78 19,039.88 20,753.47 22,621.28
- - - - - -
252,243 274,895 299,600 326,545 355,934 387,990
 Category
May-25 Jun-25 Annual Totals Totals Jul-25 Aug-25
35,225 38,395 299,679 41,082 43,958
1,408,983 1,535,791 11,987,144 1,643,297 1,758,328
352,246 383,948 2,996,786 83.27% 410,824 439,582
40,507 44,558 333,963 9.28% 49,014 53,915
- - - 0.00% - -
5,544.12 5,710.44 58,547 1.63% 5,853.20 5,999.53
24,657.20 26,876.35 209,775 5.83% 28,757.69 30,770.73
- - - 0.00% - -
422,954 461,092 3,599,071 100.00% 494,449 530,267
 Yr 5

Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26

47,035 50,328 53,851 57,620 61,654 65,969
1,881,410 2,013,109 2,154,027 2,304,809 2,466,145 2,638,775
470,353 503,277 538,507 576,202 616,536 659,694
59,306 65,237 71,761 78,937 86,830 95,514
- - - - - -
6,149.52 6,303.26 6,460.84 6,622.36 6,787.92 6,957.62
32,924.68 35,229.41 37,695.47 40,334.15 43,157.54 46,178.57
- - - - - -
568,733 610,047 654,424 702,095 753,312 808,344
 Category
Mar-26 Apr-26 May-26 Jun-26 Annual Totals Totals
70,587 75,528 80,815 86,472 734,901
2,823,490 3,021,134 3,232,613 3,458,896 29,396,034
705,872 755,284 808,153 864,724 7,349,008 81.73%
105,065 115,571 127,129 139,841 1,048,119 11.66%
- - - - - 0.00%
7,131.56 7,309.84 7,492.59 7,679.91 80,748 0.90%
49,411.07 52,869.85 56,570.73 60,530.69 514,431 5.72%
- - - - - 0.00%
867,480 931,035 999,345 1,072,776 8,992,307 100.00%
 Yr 6

Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 Dec-26

90,796 95,336 100,103 105,108 110,363 115,881
2,723,881 2,860,075 3,003,079 3,153,233 3,310,894 3,476,439
680,970 715,019 750,770 788,308 827,724 869,110
153,825 169,208 186,129 204,742 225,216 247,737
- - - - - -
7,871.90 8,068.70 8,270.42 8,477.18 8,689.11 8,906.34
63,557.22 66,735.08 70,071.84 73,575.43 77,254.20 81,116.91
- - - - - -
906,225 959,031 1,015,241 1,075,102 1,138,883 1,206,870
Yr 6

Jan-27 Feb-27 Mar-27 Apr-27 May-27 Jun-27

121,675 127,759 134,147 140,854 147,897 155,292
3,650,261 3,832,774 4,024,413 4,225,633 4,436,915 4,658,761
912,565 958,193 1,006,103 1,056,408 1,109,229 1,164,690
272,511 299,762 329,739 362,712 398,984 438,882
- - - - - -
9,128.99 9,357.22 9,591.15 9,830.93 10,076.70 10,328.62
85,172.75 89,431.39 93,902.96 98,598.11 103,528.01 108,704.42
- - - - - -
1,279,378 1,356,744 1,439,336 1,527,550 1,621,817 1,722,605
 Category
Annual Totals Totals
1,445,212
43,356,357
10,839,089 71.08%
3,289,448 21.57%
- 0.00%
108,597 0.71%
1,011,648 6.63%
- 0.00%
15,248,783 100.00%
Expenses Yr 1

Particulars Pre-Ops Jul-21 Aug-21

Expenses
Marketing 7,910 452 414
Referral Commissions and Fees - - -
Salaries & Wages 5,493 605 1,655
Insurance (other than health) - - -
Legal and Professional Services 995 199 398
Liquor License - - -
Background Checks - - -
Office Expense 133 78 80
Staff Amenities 589 100 100
Staff Training 130 458 458
Subscriptions 360 49 49
Platform Expenses 603 2,740 2,426
Rent 3,794 191 191
Webhosting + Google services 450 92 98
Packaging Expenses - - -
Other Expenses 616 953 51
Total Expenses $ 21,467 $ 5,918 $ 5,920
 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22

1,638 3,318 3,318 3,368 7,468 7,468

- - - - - -
1,221 4,010 4,010 4,010 4,010 4,010
- 205 205 205 205 205
400 400 900 900 900 900
- - - - 29 29
- - - - 13 13
80 80 80 80 80 80
100 100 100 100 100 100
458 458 458 458 458 458
49 49 49 49 49 49
2,273 2,338 2,228 2,035 2,035 2,035
232 200 200 200 1,400 1,400
171 171 171 171 171 171
80 96 115 138 165 198
34 25 25 25 25 25
$ 6,737 $ 11,450 $ 11,859 $ 11,740 $ 17,109 $ 17,142
 Mar-22 Apr-22 May-22 Jun-22 2021-22 Total

7,468 7,468 7,468 7,468 $ 57,316

- - - - $ -
133,487 133,487 133,487 133,487 $ 557,480
205 205 205 205 $ 1,845
900 900 900 900 $ 8,597
29 29 29 29 $ 175
13 13 13 13 $ 75
80 80 80 80 $ 958
100 100 100 100 $ 1,200
458 458 458 458 $ 5,500
49 49 49 49 $ 588
2,035 2,035 4,435 4,435 $ 31,051
2,800 2,800 2,800 2,800 $ 15,214
171 171 171 171 $ 1,905
238 285 342 411 $ 2,068
25 25 25 25 $ 1,264
$ 148,059 $ 148,106 $ 150,563 $ 150,632 $ 685,236
Expenses Yr 1-6

Particulars Pre-Ops 2021-22

Expenses
Marketing 7,910 57,316
Referral Commissions and Fees* - -
Salaries&Wages 5,493 557,480
Insurance (other than health) - 1,845
Legal and Professional Services 995 8,597
Liquor License - 175
Background Checks 75
Office Expense 133 958
Staff Amenities 589 1,200
Staff Training 130 5,500
Subscriptions 360 588
Platform Expenses 603 31,051
Rent 3,794 15,214
Webhosting + Google services 450 1,905
Packaging Expenses - 2,068
Other Expenses 616 1,264
Total Expenses $ 21,467 $ 685,236
% of Revenue % of Revenue % of Revenue
2022-23 2023-24
2022-23 2023-24 2024-25
2022-23
35% 121,235 25% 348,900 15%
3% 10,392 3% 10,703 3%
NA 1,469,417 NA 2,125,065 NA
2% 6,928 2% 27,912 2%
NA 10,800 NA 10,800 NA
NA 175 NA 175 NA
0.5% 1,732 0.5% 1,732 0.5%
1% 3,464 1% 13,956 1%
1% 3,464 1% 13,956 1%
NA 2,000 NA 7,000 NA
1% 1,732 1% 6,978 1%
2% 6,928 2% 27,912 2%
NA 48,000 NA 48,000 NA
2% 6,928 2% 27,912 2%
0% 346 0% 1,396 0%
1% 1,732 1% 6,978 1%
$ 1,695,272 $ 2,679,375
 % of Revenue % of Revenue
2024-25 2025-26 2026-27
2025-26 2026-27

539,861 10% 899,231 7.5% 1,143,659

11,024 3% 11,355 3% 11,696
2,588,200 NA 3,281,348 NA 3,795,117
71,981 2% 179,846 2% 304,976
10,800 NA 10,800 NA 10,800
175 NA 175 NA 175
1,732 0.5% 44,962 0.5% 76,244
35,991 1% 89,923 1% 152,488
35,991 1% 89,923 1% 152,488
3,000 NA 7,000 NA 6,000
17,995 1% 44,962 1% 76,244
71,981 2% 179,846 2% 304,976
48,000 NA 48,000 NA 48,000
71,981 2% 179,846 2% 304,976
3,599 0% 8,992 0% 15,249
17,995 1% 44,962 1% 76,244
$ 3,530,307 $ 5,121,170 $ 6,479,330
Statement of Profit / Loss Yr 1

Particulars Pre-Ops Jul-21

Revenue
Total Order Commission - 200
Total Delivery Commission - -
Experience Set - -
Onboarding Fee Revenue ($199 from Oct'21) - -
Packaging Revenue (5c per order from Oct '21) - -
Other Revenue Sources (Insurance) - -
Gross Margin $ - $ 200
Expenses
Marketing 7,910 452
Car and Truck Expenses 64 -
Referral Commissions and Fees* - -
Salaries&Wages 5,493 605
Insurance (other than health) - -
Legal and Professional Services 995 199
Liquor License - -
Background Checks - -
Office Expense 133 78
Staff Amenities 589 100
Staff Training 130 458
Subscriptions 360 49
Platform Expenses 603 2,740
Rent 3,794 191
Webhosting + Google services 450 92
Packaging Expenses - -
Delivery Expenses 331 -
Other Expenses 616 953
Total Expenses 21,467 5,918
Net Income Before Income Tax $ (21,467) $ (5,718)
Income Tax $ -
Net Profit/Loss $ (21,467) $ (5,718)
 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22

500 902 1,091 1,309 1,702 2,515

- 279 335 402 483 579
- - - - - -
485 297 597 796 796 796
- - 43 69 90 117
- - - - - -
$ 985 $ 1,478 $ 2,067 $ 2,577 $ 3,071 $ 4,007

414 1,638 3,318 3,318 3,368 7,468

- - - - - -
- - - - - -
1,655 1,221 4,010 4,010 4,010 4,010
- - 205 205 205 205
398 400 400 900 900 900
- - - - - 29
- - - - - 13
80 80 80 80 80 80
100 100 100 100 100 100
458 458 458 458 458 458
49 49 49 49 49 49
2,426 2,273 2,338 2,228 2,035 2,035
191 232 200 200 200 1,400
98 171 171 171 171 171
- 80 96 115 138 165
- - - - - -
51 34 25 25 25 25
5,920 6,737 11,450 11,859 11,740 17,109
$ (4,935) $ (5,259) $ (9,383) $ (9,282) $ (8,668) $ (13,101)
$ - $ - $ - $ - $ - $ -
$ (4,935) $ (5,259) $ (9,383) $ (9,282) $ (8,668) $ (13,101)
 Feb-22 Mar-22 Apr-22 May-22 Jun-22 2021-22 Total

3,269 4,250 5,525 7,182 9,337 $ 37,783

695 834 1,001 1,201 1,441 $ 7,252
- - - - - $ -
995 995 1,194 1,393 1,393 $ 9,737
153 198 258 335 436
- - - - - $ -
$ 5,112 $ 6,277 $ 7,978 $ 10,112 $ 12,607 $ 56,472

7,468 7,468 7,468 7,468 7,468 $ 57,316

- - - - - $ -
- - - - - $ -
4,010 133,487 133,487 133,487 133,487 $ 557,480
205 205 205 205 205 $ 1,845
900 900 900 900 900 $ 8,597
29 29 29 29 29 $ 175
13 13 13 13 13 $ 75
80 80 80 80 80 $ 958
100 100 100 100 100 $ 1,200
458 458 458 458 458 $ 5,500
49 49 49 49 49 $ 588
2,035 2,035 2,035 4,435 4,435 $ 31,051
1,400 2,800 2,800 2,800 2,800 $ 15,214
171 171 171 171 171 $ 1,905
198 238 285 342 411 $ 2,068
- - - - -
25 25 25 25 25 $ 1,264
17,142 148,059 148,106 150,563 150,632 $ 685,236
$ (12,030) $ (141,781) $ (140,129) $ (140,452) $ (138,025) $ (628,764)
$ - $ - $ - $ - $ - $ -
$ (12,030) $ (141,781) $ (140,129) $ (140,452) $ (138,025) $ (628,764)
Statement of Profit / Loss Yr 1-6

2021-22 2022-23
Particulars

Revenue
Total Order Commission $ 37,783 $ 273,862
Total Delivery Commission $ 7,252 $ 33,906
Experience Set $ - $ -
Onboarding Fee Revenue ($199 from Oct'21) $ 9,737 $ 23,281
Packaging Revenue (5c per order from Oct '21) $ 1,700 $ 15,336
Other Revenue Sources (Insurance) $ - $ -
Gross Margin $ 56,472 $ 346,385
Expenses
Marketing $ 57,316 $ 121,235
Car and Truck Expenses $ - $ -
Referral Commissions and Fees* $ - $ 10,392
Salaries&Wages $ 557,480 $ 1,469,417
Insurance (other than health) $ 1,845 $ 6,928
Legal and Professional Services $ 8,597 $ 10,800
Liquor License $ 175 $ 175
Background Checks $ 75 $ 1,732
Office Expense $ 958 $ 3,464
Staff Amenities $ 1,200 $ 3,464
Staff Training $ 5,500 $ 2,000
Subscriptions $ 588 $ 1,732
Platform Expenses $ 31,051 $ 6,928
Rent $ 15,214 $ 48,000
Webhosting + Google services $ 1,905 $ 6,928
Packaging Expenses $ 2,068 $ 346
Delivery Expenses $ - $ -
Other Expenses $ 1,264 $ 1,732
Total Expenses $ 685,236 $ 1,695,272

Net Income Before Income Tax $ (628,764) $ (1,348,886)

Income Tax $ - $ -
Net Profit/Loss $ (628,764) $ (1,348,886)
 2023-24 2024-25 2025-26 2026-27

$ 1,183,804 $ 2,996,786 $ 7,349,008 $ 10,839,089

$ 106,411 $ 333,963 $ 1,048,119 $ 3,289,448
$ - $ - $ - $ -
$ 39,093 $ 58,547 $ 80,748 $ 108,597
$ 66,293 $ 209,775 $ 514,431 $ 1,011,648
$ - $ - $ - $ -Current
$ 1,395,600 $ 3,599,071 $ 8,992,307 $ 15,248,783 Growth
Churn
$ 348,900 $ 539,861 $ 899,231 $ 1,143,659
$ - $ - $ - $ -
$ 10,703 $ 11,024 $ 11,355 $ 11,696
$ 2,125,065 $ 2,588,200 $ 3,281,348 $ 3,795,117
$ 27,912 $ 71,981 $ 179,846 $ 304,976
$ 10,800 $ 10,800 $ 10,800 $ 10,800
$ 175 $ 175 $ 175 $ 175
$ 1,732 $ 1,732 $ 44,962 $ 76,244
$ 13,956 $ 35,991 $ 89,923 $ 152,488
$ 13,956 $ 35,991 $ 89,923 $ 152,488
$ 7,000 $ 3,000 $ 7,000 $ 6,000
$ 6,978 $ 17,995 $ 44,962 $ 76,244
$ 27,912 $ 71,981 $ 179,846 $ 304,976
$ 48,000 $ 48,000 $ 48,000 $ 48,000
$ 27,912 $ 71,981 $ 179,846 $ 304,976
$ 1,396 $ 3,599 $ 8,992 $ 15,249
$ - $ - $ - $ -
$ 6,978 $ 17,995 $ 44,962 $ 76,244
$ 2,679,375 $ 3,530,307 $ 5,121,170 $ 6,479,330

$ (1,283,775) $ 68,764 $ 3,871,137 $ 8,769,453

$ - $ - $ - $ -
$ (1,283,775) $ 68,764 $ 3,871,137 $ 8,769,453
July August September October November December
100 107 114 123 131 140
10 11 11 12 13 14
-3 -3 -3 -4 -4 -4
Cash Flow Statement Yr 1

Pre-Ops

Cash Flow from Operating Activities

Net Profit $ -
Add Non-Cash Expenses

Net Cash Inflow from Operating Activities $ -

Cash Flow from Investing Activities

Mobile Application $ -
Web Application $ -
Database

Net Cash Outflow from Investing Activities $ -

Cash Flow from Financing Activities

Owner's Equity $ 34,020
Seed Funding $ 5,000

Net Cash Inflow from Financing Activities $ 39,020

Cash and Cash Equivalents

Beginning Cash Balance $ -
Net Inflow / Outflow this period $ 39,020
Closing Cash Balance $ 39,020
 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21

$ (5,718) $ (4,935) $ (5,259) $ (9,383) $ (9,282)

$ (5,718) $ (4,935) $ (5,259) $ (9,383) $ (9,282)

$ - $ - $ - $ - $ (7,000)
$ - $ - $ - $ - $ (1,400)

$ - $ - $ - $ - $ (8,400)

$ 9,413 $ 3,669 $ 11,267 $ 4,000 $ 4,000

$ - $ - $ - $ - $ -

$ 9,413 $ 3,669 $ 11,267 $ 4,000 $ 4,000

$ 39,020 $ 42,715 $ 41,448 $ 47,456 $ 42,073

$ 3,695 $ (1,266) $ 6,008 $ (5,383) $ (13,682)
$ 42,715 $ 41,448 $ 47,456 $ 42,073 $ 28,391
 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22

$ (8,668) $ (13,101) $ (12,030) $ (141,781) $ (140,129)

$ (8,668) $ (13,101) $ (12,030) $ (141,781) $ (140,129)

$ (7,000) $ (7,000) $ (7,000) $ (7,000) $ (7,000)

$ (1,400) $ (1,400) $ (1,400) $ (1,400) $ (1,400)

$ (8,400) $ (8,400) $ (8,400) $ (8,400) $ (8,400)

$ 4,000 $ 4,000 $ 4,000 $ 2,381 $ 2,381

$ - $ - $ - $ - $ -

$ 4,000 $ 4,000 $ 4,000 $ 2,381 $ 2,381

$ 28,391 $ 15,322 $ (2,179) $ (18,609) $ (166,409)

$ (13,068) $ (17,501) $ (16,430) $ (147,800) $ (146,147)
$ 15,322 $ (2,179) $ (18,609) $ (166,409) $ (312,557)
 May-22 Jun-22 2021-22 Total

$ (140,452) $ (138,025) $ (628,764)

$ (140,452) $ (138,025) $ (628,764)

$ - $ - $ (42,000)
$ - $ - $ (8,400)

$ - $ - $ (50,400)

$ 2,381 $ 2,381 $ 53,874

$ - $ - $ -

$ 2,381 $ 2,381 $ 53,874

$ (312,557) $ (450,627)
$ (138,070) $ (135,644)
$ (450,627) $ (586,271)
Cash Flow Statement Yrs 1-6

Particulars 2021-22

Cash Flow from Operating Activities

Net Profit $ (628,764)
Add Non-Cash Expenses

Net Cash Inflow from Operating Activities $ (628,764)

Cash Flow from Investing Activities

Mobile Application $ (42,000)
Web Application $ (8,400)
Database $ -

Net Cash Outflow from Investing Activities $ (50,400)

Cash Flow from Financing Activities

Owner's Equity $ 53,874
Seed Funding $ -

Net Cash Inflow from Financing Activities $ 53,874

Cash and Cash Equivalents

Beginning Cash Balance $ 39,020
Net Inflow / Outflow this period $ (625,290)
Closing Cash Balance $ (586,271)
2022-23 2023-24 2024-25 2025-26 2026-27

$ (1,348,886) $ (1,283,775) $ 68,764 $ 3,871,137 $ 8,769,453

$ (1,348,886) $ (1,283,775) $ 68,764 $ 3,871,137 $ 8,769,453

$ - $ - $ - $ - $ -
$ - $ - $ - $ - $ -

$ - $ - $ - $ - $ -

$ 33,750 $ 33,750 $ 33,750 $ 33,750 $ 33,750

$ - $ - $ - $ - $ -

$ 33,750 $ 33,750 $ 33,750 $ 33,750 $ 33,750

$ (586,271) $ (1,901,407) $ (3,151,432) $ (3,048,918) $ 855,969

$ (1,315,136) $ (1,250,025) $ 102,514 $ 3,904,887 $ 8,803,203
$ (1,901,407) $ (3,151,432) $ (3,048,918) $ 855,969 $ 9,659,172
Statement of Financial Position Yrs 1-6

Particulars 2021-22 2022-23

ASSETS
Current Assets
Cash $ (586,271) $ (1,901,407)
Prepaid Expenses
Other Initial Costs
Total Current Assets $ (586,271) $ (1,901,407)

Fixed Assets
Mobile Application $ 42,000 $ 42,000
Web Application $ 8,400 $ 8,400
Database $ - $ -
Other
Total Fixed Assets $ 50,400 $ 50,400
(Less Accumulated Depreciation)
Total Assets $ (535,871) $ (1,851,007)

LIABILITIES & EQUITY

Liabilities
$ - $ -
Total Liabilities
Equity
Owner Equity $ 87,894 $ 121,644
Seed Funding $ 5,000 $ 5,000
Retained Earnings $ - $ (628,764)
Current Year Earnings $ (628,764) $ (1,348,886)
Total Equity $ (535,871) $ (1,851,007)
Total Liabilities and Equity $ (535,871) $ (1,851,007)

Balanced Balanced
Balance sheet in or out of balance?
$ - $ -
 2023-24 2024-25 2025-26 2026-27

$ (3,151,432) $ (3,048,918) $ 855,969 $ 9,659,172

$ (3,151,432) $ (3,048,918) $ 855,969 $ 9,659,172

$ 42,000 $ 42,000 $ 42,000 $ 42,000

$ 8,400 $ 8,400 $ 8,400 $ 8,400
$ - $ - $ - $ -

$ 50,400 $ 50,400 $ 50,400 $ 50,400

$ (3,101,032) $ (2,998,518) $ 906,369 $ 9,709,572

$ - $ - $ - $ -

$ 155,394 $ 189,144 $ 222,894 $ 256,644

$ 5,000 $ 5,000 $ 5,000 $ 5,000
$ (1,977,651) $ (3,261,425) $ (3,192,661) $ 678,476
$ (1,283,775) $ 68,764 $ 3,871,137 $ 8,769,453
$ (3,101,032) $ (2,998,518) $ 906,369 $ 9,709,572
$ (3,101,032) $ (2,998,518) $ 906,369 $ 9,709,572

Balanced Balanced Balanced Balanced

$ - $ - $ - $ -
The VC Method to Valuation

Step 1. Estimate the Investment Needed

Insert the estimated investment needed for the start-up
Series A: $ 2,000,000

Step 2. Forecast Startup Financials

Insert the start-up's projected revenue, EBITDA and net income ramp

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

Order Values $ 154,561 $ 1,095,448 $ 4,735,215 $ 11,987,144 $ 29,396,034 $ 43,356,357 50,000,000

Step 3. Determine the Timing of Exit

Select the year the company will be sold or IPO
Exit Year: 6

Step 4. Calculate Multiple at Exit

Select the projected multiple in the exit year to calculate the exit value
Denominator Revenue
Multiple 2.0x
Exit Value $ 86,712,713 100000000

Step 5. Discount to PV at the Desired Rate of Return

Insert the VC firm's desired rate of return
Rate of Return: 66%

Step 6. Determine Valuation and Desired Ownership Stake

Post-Money $4,114,306.7 $ 4,744,756.00
Pre-Money $2,114,306.7 $ 2,744,756.00
VC Ownership 48.6% 42.2%

Shares 1,000,000.00 1,000,000.00

Price per Share 2.114306650313 2.744755996199
 Valuation Models

1) Scorecard Valuation Methodology

This method compares the target company to typical angel-funded startup ventures and
money valuation of the target.

Target Company Food Street

Pre-Money Valuation $2,500,000

Comparision Factor Weight

Strength of the Management Team 30%
Size of the Opportunity 25%
Product/Technology 15%
Competitive Environment 10%
Marketing/Sales Channels/Partnerships 10%
Need for Additional Investment 5%
Other 5%

KitchKo Pre-Money valuation $ -

2) Berkus Method

The Berkus Method uses both qualitative and quantitative factors to calculate valuatio

Value Driver

1 Sound Idea (basic value)

2 Prototype (reduces technology risk)
3 Quality Management Team (reduces execution risk)
4 Strategic Relationships (reduces market risk)
5 Product Rollout or Sales (reduces production risk)
els

cal angel-funded startup ventures and adjusts the median valuation of recently funded companies in the region

vs FoodStreet Factor
0.000
0.000
0.000
0.000
0.000
0.000
0.000
Total 0.00

ntitative factors to calculate valuation based on five elements:

Add to Pre-Money Valuation Assigned Value

$0 - $700,000
$0 - $700,000
k) $0 - $700,000
$0 - $700,000
$0 - $700,000
KitchKo Pre-Money Valuation $ -
d companies in the region to establish a pre-
Financial Ratios

Ratios 2021-22 2022-23

Profitability
Order Value Growth - 608.7%
Revenue Growth - 513.4%
Net Profit Margin -1113.4% -389.4%
Return on Equity (ROE) 117.3% 72.9%
Return on Assets 117.3% 72.9%
Efficiency
Order Value to Total Assets -0.29 -0.59
Revenue to Total Assets -0.1 -0.2
Valuation
Enterprise Value to Order Value 13.68 1.93
Enterprise Value to Revenue 37.4 6.1
Price to Book Ratio -3.9 -1.1
2023-24 2024-25 2025-26 2026-27

332.3% 153.1% 145.2% 47.5%

302.9% 157.9% 149.9% 69.6%
-92.0% 1.9% 43.0% 57.5%
41.4% -2.3% 427.1% 90.3%
41.4% -2.3% 427.1% 90.3%

-1.53 -4.00 32.43 4.47

-0.5 -1.2 9.9 1.6

0.45 0.18 0.07 0.05

1.5 0.6 0.2 0.1
-0.7 -0.7 2.3 0.2
Notes
 Dummy GR

#1. Cash Balance Analysis

Closing Cash Balanc
#REF! 2022-23
Current $ (1,901,406.93)
-10%
-5%
Order
0%
Growth Rate
5%
15%
20%

#2. Net Profit/Loss Analysis

Net Profit/Loss
#REF! 2022-23
Current $ (1,348,886.36)
-10%
-5%
Order
0%
Growth Rate
5%
15%
20%
 Closing Cash Balance
2023-24 2024-25 2025-26 2026-27
$ (3,151,431.58) $ (3,048,917.62) $ 855,969.25 $ 9,659,172.23
$ (5,610,841.65) $ (6,571,756.96) $ (5,331,676.92)
$ (5,316,665.39) $ (5,721,484.15) $ (3,616,988.89)
$ (4,934,859.47) $ (4,616,248.20) $ (1,387,261.60)
$ (4,445,581.93) $ (3,198,148.16) $ 1,474,555.39
$ (3,048,917.62) $ 855,969.25 $ 9,659,172.23
$ (2,084,522.81) $ 3,658,428.64 $ 15,318,489.59

Net Profit/Loss
2023-24 2024-25 2025-26 2026-27
$ (1,283,774.64) $ 68,763.95 $ 3,871,136.87 $ 8,769,452.98
$ (1,801,531.33) $ (994,665.32) $ 1,206,330.04
$ (1,587,852.90) $ (438,568.75) $ 2,070,745.26
$ (1,309,831.06) $ 284,861.28 $ 3,195,236.59
$ (952,826.70) $ 1,213,683.78 $ 4,638,953.55
$ 68,763.95 $ 3,871,136.87 $ 8,769,452.98
$ 775,445.57 $ 5,709,201.45 $ 11,626,310.95