Bar & Lounge Financial Model Template
Bars are often viewed as the kind of business that would be fun to run, but it's obvious how much hard work is involved once you get behind the scenes. It's a lot to manage vendors, licensing, scheduling, paying bills, customer tabs, inventory management, and a host of other responsibilities.
All of this should come as no surprise to anyone that's ever seen one episode of "Bar Rescue."
With everything going on, you don't want to spend time creating financial projections. Instead, you want to focus on getting things done. That's why we created the financial model template for bars and lounges.
Whether you're creating a bar business plan or just want to know whether renting the place next door would increase profits, this template will help you make quick, smart financial decisions.
How the Bar Financial Model Works
We've created the bar financial model template for simplicity and ease of use. You don't need a background in finance, accounting to create professional-grade financial forecasts for your bar.
All you need to do is insert some of the pre-built business model "components" we've created for you. There are no calculations or equations necessary. A full financial analysis is then automatically created.
Budgeting for that new outdoor patio is as simple as selecting the appropriate business model component and adjusting a few assumptions.
We've designed everything to be highly configurable, so it's easy for you to make adjustments that tell your unique financial story.
This template is a great introduction to how Poindexter works. We've included some example revenues, costs, and investments to get you started.
The example revenue calculation is based on simple assumptions about how many customers the bar gets monthly and the percentage that either buys beer or hard alcohol. In our fictitious scenario, we assume 50% of customers buy 2 hard alcoholic drinks, and 20% of customers purchase 3 beers. Updating the template to include a new revenue calculation based on something like the volume of product sold only takes seconds.
We've also included some example costs that demonstrate a few of the different "components" available to you. Calculating the cost of beverages as a percentage of sales or on a per-transaction basis is a snap.
New asset purchases often gives people new to forecasting trouble. Poindexter removes this concern by handling everything for you, so adding new assets to your balance sheet is an effortless process. That means you can plan the purchase of new TVs for behind the bar with ease.
Full Pro Forma Financial Statements for Your Bar
Once you've finished inserting business model components and adjusting assumptions, your job is done! All of the inputs to your plan are used to automatically generate a complete financial analysis, including full pro forma financial statements. Some of what you can expect includes:
- Pro Forma Income Statement (P&L)
- Pro Forma Balance Sheet
- Pro Forma Cash Flow Statement
- Charts, graphs, dashboards, and more!
When you're done planning, you can easily share the results with others or download everything to Excel for presentations and more. Sign up today to try it out. It's free for 14 days, so there's nothing to lose!