|
Term |
Definition |
|---|---|
|
EBITDA |
Earnings before interest, tax, depreciation and amortisation |
|
Covers |
Number of guests served (one cover = one guest) |
|
Average spend |
Average revenue per guest per visit |
|
EBITDA margin |
EBITDA divided by revenue |
|
MOIC / IRR |
Multiple on invested capital / internal rate of return |
|
DSCR |
Debt-service cover ratio — operating cash flow ÷ debt service |
|
NWC |
Net working capital — operating current assets less current liabilities |
|
TAM / SAM / SOM |
Total / serviceable / obtainable market |
|
Assessed loss |
Tax loss carried forward to offset future taxable income |
|
Franchise royalty |
Ongoing fee paid by a franchisee as a % of revenue |
Methodology and basis of preparation
This plan was prepared from the sponsor brief with headline revenue and EBITDA preserved exactly. All statements below EBITDA were independently modelled: component depreciation from the capex register; South African corporate tax at 27% with assessed-loss carry-forward; and working capital at 4% of revenue. The base case is funded entirely with the sponsor’s R75.5 million of equity, so no interest arises; a debt-capacity analysis is provided separately for the lender audience. The income statement, balance sheet and cash flow are integrated so the balance sheet ties to zero in every year, enforced by an automated assertion (maximum difference: 0.0). Returns, scenarios and sensitivities were computed independently. Market and tourism statistics are directional estimates from public industry sources current to mid-2026 and should be re-verified in due diligence. This document is not an offer of securities.
Baobab Table Experiences (Pty) Ltd · Business Plan & Investment Prospectus · July 2026 · Private & Confidential