6. HRSR 04-04-2011 - Laserfiche WebLink

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create 4 full time jobs; General Manager, Assistant General Manager, Kitchen Manager, Guest Services Manager. There will be approximately 70 part time jobs created, most of who will average about 20 hours per week and about $7-$11/hr. Capacity The Pizza Ranch, an Iowa-based company, was founded in 1981 in the town of Hull, Iowa, (population 1804). At the beginning of 2011, Pizza Ranch had 156 restaurants in 9 states. Many of the stores are located in small towns with same store sales consistently exceeding national statistics. More recently, Pizza Ranch has expanded into larger markets and has consistently done very well in these communities. These stores have experienced significantly higher profitability. The Pizza Ranch has received many awards for its contribution to the pizza industry. The first award came in 1990. The Pizza Ranch was the Pizza Maker of the Month featuring Kelly Pendelton, the training officer, on the cover. The Pizza Ranch also received an award for the introduction of the 3D pizza that includes an appetizer, main course, and desert all in one. The most important awards are the most recent. In January of 2000, the Pizza Ranch was ranked among the top 15 food-related chains in America and it was listed in the August 2001 Pizza Today magazine for being #1 among the top 100 pizza chains in "Same Store Sales" with an increase of 61.8°Io for the five-year period of 1995 to 2000. Since 2000, growth has continued, as Pizza Ranch has been in significant expansion mode. It has grown from 82 franchised locations to 155 at the start of 2011. Currently there are 7 stores under construction for opening in 2011. Total franchise sales have grown from $34,066,755 in 2000 to $124,861,575 in 2010. The top 10 stores in 2010 had average sales of $1,690,472. See Resumes in Business Plan. Project Budget Narrative Like any other start up business, budgeting is a key component that needs to be carefully scrutinized and completed in great detail prior to moving forward. The Applicant has been working on this for the last 4 months. The attached Sources and Uses of Funds on page 3 depicts how tight this project will be to meet the $1,500,000 target. As you can see, the current project budget needs the injection of cash from the HRA. Without it we cannot make the goal of $1,500,000. There is a letter of commitment from the lender on page 3. Income statements projections provided on page 4. Timeline Purchase Agreement signed for property 4-08-2011 Architect completes blueprints 4-22-2011 Bids from contractors/select contractor 5-01-2011 Planning Commission meeting 5-10-2011 City Council 5-16-2011 Site Plan Approved 5-16-2011 Final Loan Approved 5-25-2011 Construction Begins 5-26-2011 Pizza Ranch Opens 9-01-2011 2