Golf Course - Startup Excel Financial Model

A financial model template designed to improve your golf course business plan. Includes financial statements.

by Jason Varner
smarthelping.com - Financial Modeling for EveryoneFollow 151

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Description
Latest Updates: Added fully integrated monthly and annual Income Statement, Balance Sheet, and Cash Flow Statement as well as a cap table, capex schedule with advanced depreciation calculations per latest rev. ruling from IRS that some parts of the golf course hold construction can be depreciated. Also improved general global assumptions.


The main point of emphasis here is having kpi assumptions that drive revenue. As a golf course, your main concern is maximizing the amount of rounds you have on a daily basis, while still maintaining an enjoyable course.

Here, you will be able to adjust the total playable hours per day, time to finish a round, time between rounds, and the utilization of the expected rounds per day (almost like a real estate vacancy rate).

Based on these revenue assumptions, you can better plan out how much revenue you could expect if the assumptions change over 5 years.

Going further into the model, you have assumptions for land/construction, capex after launch, general other initial investment items, and on-going fixed and variable costs over 5 years.

There is an equity area (cap table of sorts) that has logic for up to 6 investor rounds at a given valuation. This will determine future cash splits. You can utilized all, some, or none of those investment slots.

There is logic for a loan if needed. It is assumed to be paid off if there is an exit month.

There is logic for the break even revenue per year (per variable and fixed costs).

IRR and annual / total ROI is included for the project and for each investor entity / owner equity.

Based on all of the assumptions, there will be some required equity investment needed. That will be the owner's equity contribution and is the basis for that entities IRR/ROI. If all the expected cash is already covered by investors and/or the loan, then the equity contribution by the owner is $0.

You can plan on an exit month and based on the month chosen, all the future items default to 0 and the exit value is a % multiple of the annualized revenue on that month.

Plenty of charts and summaries are available to see detailed and high level financial figures, such as annual revenue, costs, EBITDA, cash flow, and average EBITDA per golfer per year.

This Best Practice includes
1 Excel template and 1 tutorial video