Data-Entry Instructions

These are the instructions to help you fill out the QuikValSM Data-Entry form at www.QuikVal.com.  They consist of several parts:

·         Data Required to Complete Data-Entry Form - a list of information to have at hand before starting this Data-Entry Form.

·         General Instructions - an overview of the Data-Entry form tabs, and the kinds of fields you will be completing, and

·         Specific Instructions - field-by-field, detailed requirements.

The Data-Entry form is designed for entering information about one Unit (restaurant) at a time for QuikValuationSMIf you have more than one Unit to be valued, please contact us (info@QuikVal.com) so we can arrange for the receipt of your data in EXCEL® spreadsheet format.

As you navigate the Data-Entry form, the appropriate section of these instructions will be displayed at the bottom of your screen.

Please feel free to send any feedback regarding these instructions to feedback@QuikVal.com.

Data Required to Complete Data-Entry Form

Before completing the form, you should gather the following information:

NOTE: There are some values that will probably not appear directly in your financial statements and so may have to be estimated.  The QuikValuationSM will be sensitive to small variations in two of these: Annual Market Rent in Current Use (in the “Unit” tab) and the total Predicted Annual Capital Expenditure (in the “Capital Assets” tab).  So, please be as accurate as possible when computing these amounts.

Please use the Client’s Notes section at the bottom of each data-entry tab to provide additional information about any items of data input that you believe will help us produce a meaningful result.

General Instructions

Internet Browser Requirements

Data-Entry form tabs

In addition, there is a Client’s Notes field below the sheets where you can enter notes, comments, and any information you feel is relevant for us to complete the work for you.

Types of data-entry fields

·               Selections are pull-down lists from which you must choose one of the specified options.  (If no option seems appropriate, please choose the one that best fits and then explain your choice in the Client’s Notes section at the bottom of the form.)

·               Free-form text fields are used for data such as names and addresses.  You can include letters, numbers, and punctuation in your responses.

·               Numeric data fields must contain numbers.  A numeric field that is left blank will be treated as if it contains Zero (0).  Numeric fields may contain digits, decimal points, minus-signs, and commas.  Whenever you move to another field (using either your mouse, the tab key, or the shift-tab keys), the number you have entered will be normalized, that is, commas will be deleted and then reinserted in the correct positions.  NOTE: If you press just the enter key, then any calculated results will be updated but the cursor will remain on the current field for further editing.

You may also enter an arithmetic expression (consisting of numbers, +, –, *, /, and parentheses) into a numeric field.  When the field is normalized, the expression will first be evaluated, and then replaced with the result.  For example, “(12000+51)/4” would be replaced by “3,012.75”.

·               Calculated results are generated automatically by the form to help you verify your numeric entries.  These values are updated as you enter data on which these calculated results rely and then move to another field.  You cannot directly modify calculated result fields; you can only change the numeric fields that are used to compute those results.

NOTE: Free-form text and numeric fields may both be completed either by typing the appropriate values on your keyboard or by using your computer’s cut-and-paste feature.

·               Other… fields ask you to provide a short description of these values either in the box provided to their left side, or in the Client’s Notes section at the bottom of the form.

Buttons

·               Help opens these instructions in a new window that may be moved or resized.

NOTE:  The instruction for each data-entry line item appears in a small frame at the bottom of the data-entry window; that frame will disappear when the instructions open in their separate window, and will reappear if that separate window is closed.

·               Print sends all sheets of the Data-Entry form to your printer.  NOTE: Please set up your printer to print Landscape.

·               File displays a menu of operations that may be used to save, reload, or reset values on the data-entry page, namely:

o             Save all data to a .CSV file on my computer saves the current contents of the form on your computer.  A default file name will be proposed.  You may either use this file name or enter an alternative.  If your browser is configured either to open the downloaded .csv file or to save it, you should choose the latter (save) and then you will be prompted for the file name and folder.  We urge you to save your data frequently to protect against its lossSave Data on the Data-Entry form performs this function.

o             Load all data from a previously saved .CSV file on my computer may be used to restore the form to contain the data that were present when you previously saved data.  The source of the data is a Comma-Separated-Values (.csv) file stored on your computer.  NOTE: You may not use just any .csv file; it must be one that was previously created using Save Data.  You are strongly advised against manually editing these files.

o             Reload all data from the most recently saved (or loaded) .CSV file restores the data that were present in the Data-Entry form when it was last saved.  This feature will not work if you have cookies disabled.

·         Check Data button performs various checks for internal consistency of entered data and, reports errors it finds.

·         Save Data button performs the same function as the Save all data to a .CSV file on my computer feature provided under the File button:  It saves the current contents of the form in a .csv file on your computer.  A default file name will be proposed as the file name.  You may either use this file name or enter an alternative.  If your browser is configured either to open the downloaded .csv file or to save it, choose to save it and then you will be prompted for the file name and folder.  We urge you to use the Save Data button frequently to protect against loss of data.  The Save Data on the Data-Entry form performs this same function.

·         Submit for Processing first performs consistency checks on your data.  If passed, then the data will be submitted to QuikValSM for processing.  Once processed and reviewed, your results will be delivered to the Contact e-mail address specified on the Client tab.  A copy of the submitted data will also be made available for storing on your computer (just like Save Data), unless you are using Internet Explorer®, which cannot handle multi-part responses from the web server.  Please carefully review your data before using the Submit for Processing button.  We reserve the right to charge for each submission.  Until you press Submit for Processing, we have no access to any of your data; after pressing it, we will receive only a copy of the data present on the form at the time of submission.

Specific Instructions

The following sections appear in the same order as on the Data-Entry form.

Client

This sheet describes you, our Client.

Contact Name - the name of the person whom we may contact regarding the QuikValuationSM.

Contact e-mail – email address to which we will deliver the QuikValuationSM report; this email address will be our primary means of communication with you.

Company - the business entity (corporation, LLC, partnership, etc.), if any, for which the QuikValuationSM is being done.

Postal Address, City, State, and Postal Code - postal coordinates of the person whom we may contact regarding the QuikValuationSM.

Telephone - the telephone number (including area code) of the person whom we may contact regarding the QuikValuationSM.

Valuation

This sheet provides us information that we use in the QuikValuationSM process.

Valuation Name or Identifier – the name that you choose to give to this QuikValuationSM, for instance: “Main Street-Jul-07” or “Unit 325-Year-End 2006.”

Purpose of this Valuation –choose one or, if none fits, please choose “Other.”

Valuation Date – the Month and Year of the QuikValuationSM., in other words, its “Effective Date."

Fiscal Year End – the month in which the accounting year for the Unit ends; this will normally be the end of December.

Currency – please choose one.

Future Ownership of this Unit – make the choice that best describes who will be the owner of the Unit immediately after the Valuation Date.

Future Ownership Entity Type –choose the type of entity that will own this Unit immediately after the Valuation Date.

Future Operational Control of this Unit – make the choice that best describes who will be in charge of the Unit immediately after the Valuation Date.

Future Operator’s Experience with this Unit – choose the range of years of experience possessed by the person(s) who will be in charge of the operation of the Unit immediately after the Valuation Date.

Portion of Future Owner’s Gross Income from this Unit – choose the range of percentages that includes the estimated percentage of Owner’s Gross Income that will come from this Unit for the year following the Valuation Date.

Future Owner’s Average Income Tax Rate on All Income – choose the range of percentages that includes the estimated percentage of Owner’s Gross Income that will go to paying Federal and State Income Taxes for the year following the Valuation Date.

Unit

This sheet describes the Unit being valued.

Franchise System – please choose the franchise system in which the Unit is operated.  If the appropriate franchise system is not listed, please select (Other Franchise) and type the name of the franchise system in the Client’s Notes section at the bottom of the page.

Concept (or Restaurant Name if independent) - the name of the concept if it is different from the name of the Franchise System, above.  For independent restaurants, this should simply be the name of the restaurant.  NOTE: The Concept automatically tracks the Franchise System unless explicitly overwritten by you.

Other Units Owned in Same Franchise System (excluding this Unit) asks for the number of franchised units that you own in the same system, other than the Unit that is the subject of this QuikValuationSM.

Unit Status - will generally be Existing.  Please choose Planned if estimated numbers are being supplied for a hypothetical or future Unit.

Unit Name and/or Identifier - the name that you use to identify this Unit, for instance: “Main Street” or “Unit 325.”

Unit Street Address, City, State, and Postal Code – postal coordinates of the physical location of the Unit, not a post-office box or other mail-delivery address.  (NOTE: Any mail we send will be sent only to the Postal Address specified on the Client tab.)

Unit Telephone - the telephone number (including area code) of the Unit.

Year First Opened as Current Franchise or Concept – year the Unit was opened in its current format and under its current name.

Year First Operated by Current Owner - year the Unit was first operated by the current owner.

Starting Year of Current Lease - the year the current lease began.  If the real estate is owned by the owner of the operations, please leave this field blank.

Ending Year of Current Lease - the year when the current lease, including all options for renewal, will expire.  If the real estate is owned by the owner of the operations, please leave this field blank.

Annual Market Rent in Current Use - the amount of annual rent, as of the Valuation Date, that would be paid if the lease were to be re-negotiated on or about the Valuation Date and the location were leased from an unrelated third party. In all cases, an accurate estimate of Annual Market Rent in Current Use is important in determining the QuikValuationSM of the Unit.

Site Type – choose the type that most closely describes the location of the Unit.  If you select (other), please explain in the Client’s Notes section at the bottom of the form.

Patron Seating - the number of seats available for seating patrons.

Total Land Area - the surface area of the entire property (open areas, land under the building and parking lot, etc.) that is dedicated to the Unit.

Total Interior Floor Space - the interior floor space that is dedicated to restaurant operations; in food-court locations, this will only include kitchen, prep and service areas.

Dedicated Parking - asks only for parking spaces that are reserved exclusively by the Unit.  If you are not sure which spaces to count as dedicated, a “rule of thumb” would be to include those spaces that are within about 150 feet (or 50 m) of your entrance but not within that same distance of entrance of another business.

Customers / Week (average) - the total number of patrons (not tables or tickets) served in an average week.

Crew Hours / Year – Base Hours – the total number of base-wage-rate hours worked by hourly, non-management employees during the 12 months preceding the Valuation Date.  In the event that Crew and Management Labor cannot be separated, please show the total base-wage-rate hours for all wage-earners (Crew and Management) and make a note in the Client’s Notes section at the bottom of this sheet.

Crew Hours / Year – Overtime Hours – the total number of overtime-wage-rate hours worked by hourly, non-management employees during the 12 months preceding the Valuation Date.  In the event that Crew and Management Labor cannot be separated, please show the total overtime-wage-rate hours for all wage-earners (Crew and Management) and make a note in the Client’s Notes section at the bottom of this sheet.

Revenue

This sheet collects (1) the Revenues generated by the Unit and (2) the relative weight of methods for delivering food/beverage to customers.

Revenues – the total amount of sales for each month in the array.  Revenue should include all payments received in exchange for food, beverage, and promotional items and any other payments received for sales of items in the ordinary course of operating your restaurant.  It should be reduced by any discounts, allowances (for returns), etc.

Percentage of Revenue – the approximate percentage of Revenue derived from each of the six listed methods of serving the client (Dine In, Carry Out, Curbside Pickup, Drive Thru, Delivery, and Catering).  Please describe any other source of revenue.

Profit & Loss

Please submit Profit & Loss Statements for the requested periods of time in Excel® format using the “Browse” buttons at the right-hand side of the screen.

Balance Sheet

Please submit Balance Sheets for the requested periods of time in Excel® format using the “Browse” buttons at the right-hand side of the screen.

Number of Units Covered by these Balance Sheets – the number of restaurant Units reflected in the Balance Sheets submitted.  We understand that multi-unit restaurant operations do not usually have a separate balance sheet for each unit.

Capital Assets

This sheet describes capital assets, whether owned or leased, that are used in the operation of the Unit.  If you do not have separate and precise information for each item, please make a reasonable estimate.

Land – the real property, without any improvements (grading, parking lot, utilities, etc.) that may have been or will be made specifically for the Unit).

Improvements to Land - those additions to land on which the restaurant building sits other than building itself and the building’s fixtures, for example:  Outdoor lighting, parking lot and sidewalks, plantings and pole signs.

Building & Leasehold includes (1) the building, (2) all improvements attached to the outside or inside of the building, such as building-mounted signs, bathroom fixtures, ceilings, and floor coverings.

Fixtures, Furniture & Equipment includes tables, chairs, ovens, fryers, grills, refrigerators, and all other restaurant equipment, whether attached to the building or not.

Asset Ownership – indicate if the category of Capital Asset is owned, as of the Valuation Date, by (1) the “Unit Operator,” (2) A party (person, firm or entity) related to or controlled by the Unit Operator, or (3) A Party (person, firm or entity) unrelated to and not under the control of the Unit Operator.

Purchase Year – The year each category of Capital Asset was bought by the person, firm or entity that is the owner of the Unit as of the Valuation Date.

Purchase Price – The cost of each category of Capital Asset to the person, firm or entity that is the owner of the Unit as of the Valuation Date.

Estimate Fair Market Value as of Valuation Date – estimate the market value of each category of Capital Asset as though it were being sold (1) “as is” and “where is” and (2) to a person who is unrelated to the business and has no pre-existing obligation to purchase the Capital Asset.

Estimated Replacement Cost (NEW) – estimate the amount of money that would now be needed to build and/or purchase and install each category of Capital Asset as though each was purchased NEW on the Valuation Date.

Year Built or First Installed - the year the most of the elements of each category of Capital Assets was first put into use.  NOTE: If the building was not originally built as a restaurant, then the Year Built or First Installed should indicate the year in which the facility was first converted to restaurant usage.  If you are unsure of any year, please try to make a reasonable estimate.

Year of Latest Substantial Renovation – year that either (1) you, the Client, or (2) the previous operator or (3) the property owner performed a substantial renovation of one or more of the categories of Capital Assets.  If you are unsure of the exact year, please make a reasonable estimate.

Cost of Latest Substantial Renovation – the cost of the latest substantial renovation of each of the categories of Capital Assets.  If you are unsure of the amounts spent, please make a reasonable estimate.

Predicted Annual Capital Expenditure (average needed to sustain current Revenues) – the amount of money that you should spend or set aside for Capital Expenditures in each year during the next 3–5 years in order to sustain the level of Revenue as of the Valuation Date.  An accurate estimate of projected capital expenditures is important to determining the QuikValuationSM of the unit.

Estimate of Deferred Capital Expenditure – the amount of money that you, the Client, should have spent but did not spend on each category of Capital Assets during the past 3 years.

Short-term Debt

Short-term loans are those that are due within 12 months following the Valuation Date.  The Data-Entry form allows you to enter information for three distinct short-term loans.  If you have more than three loans outstanding that are related to the Unit being valued, you might be able to combine the information for similar loans to reduce the total to three.  If this does not suffice, please e-mail us at help@QuikVal.com and explain the details of your situation.

Type of Loan - the way in which the loan payment is calculated.  Most loans will be either (1) “Level Payment,” which include principal and interest each month in an unchanging repayment of the debt, or (2) “Interest Only,” where the payment is only interest.  If you select (other), please explain in the Client’s Notes section at the bottom of the form.

Loan Name or Identifier - give a name of your choice to the loan.  Enter any descriptive information that will help you distinguish the loan from other loans.

Number of Units Covered by Loan – the number of restaurant Units the assets of which are collateral for the loan.

Loan Collateral – the property that acts as collateral (security), if any, for the loan.  If you select (other), please explain in the Client’s Notes section at the bottom of the form.

Loan Balance as of Valuation Date - the principal remaining as of the Valuation Date.

Interest Rate as of Valuation Date - the interest rate as of the Valuation Date.

Monthly Payment as of the Valuation Date - the amount of money due the lender for the payment closest to the Valuation Date.  This may consist of principal and interest, or interest only.

Long-term Debt

Long-term loans are those that are due more than 12 months following the Valuation Date.  The Data-Entry form allows you to enter information for three distinct short-term loans.  If you have more than three loans outstanding that are related to the Unit being valued, you might be able to combine the information for similar loans to reduce the total to three.  If this does not suffice, please e-mail us at help@QuikVal.com and explain the details of your situation.

Type of Loan - the way in which the loan payment is calculated.  Most loans will be either (1) “Level Payment,” which include principal and interest each month in an unchanging repayment of the debt, or (2) “Interest Only,” where the payment is only interest.  If you select (other), please explain in the Client’s Notes section at the bottom of the form.

Loan Name or Identifier gives a name of your choice to the loan.  Enter any descriptive information that will help you distinguish the loan from other loans.

Number of Units Covered by Loan – the number of restaurant Units the assets of which are collateral for the loan.

Loan Collateral – the property that acts as collateral (security), if any, for the loan.  If you select (other), please explain in the Client’s Notes section at the bottom of the form.

Original Loan Amount - the amount of principal originally borrowed.

Original Amortization Term - the number of months over which the loan would be completely amortized (paid off).  For balloon loans, this may be longer than the term of the loan.  For Interest Only loans, this field should be left blank.

Loan Balance as of Valuation Date - the principal due as of the Valuation Date.

Remaining Amortization Term as of Valuation Date - the number of months remaining in the amortization period as of the Valuation Date.  For balloon loans, this may be longer than the term of the loan.  For Interest Only loans, this field should be left blank.

Interest Rate as of Valuation Date - the interest rate on the loan as of the Valuation Date.

Monthly Payment as of the Valuation Date - the payment due each month as of the Valuation Date.  This may consist of principal and interest, or interest only.

Current Portion (Principal due within 12 months after Valuation Date) - the portion of the loan principal that is due during the 12 months following the Valuation Date.

Balloon Payment (if any) – the amount of money due, if any, at the end of the borrowing period.  Your lender may be of assistance in estimating this number.

Term Remaining until Balloon Payment Due – the number of months between the Valuation Date and the date of the balloon payment, if any.

Client’s Notes

This section is free-form text in which you may explain any details that you believe will help QuikValSM understand any unique characteristic(s) of your Unit and so produce an appropriate QuikValuationSM.

Please submit any comments about QuikValSM, this Data-Entry form, our web-site in general, or any aspect of the QuikValuationSM process via e-mail to feedback@QuikVal.com.

Thank you for your business.