Sign of a keen eye IMHO........If TRTC does not get a lic to sell recreational......San Leandro will be another high cost low revenue store. IMHO.....Thats why the others have not opened IMHO.
I have posted before about this store and showed the three year budget. It will take three years for this store to show any profit . IMHO.
Once again......only ones profiting is on the expense side.....such as security and San Leandro proposes to use Core Security, which is controlled by Martin Kaufman IMHO.....
See 2) which is Blum SL application BLUM SAN LEANDRO Pro Forma Operating Budget Fiscal Fiscal Fiscal Year 1 Year 2 Year 3 Revenue $ 2,600,000 $ 5,400,000 $ 7,300,000 Cost of Goods Sold 1,482,000 3,074,000 4,163,000 Gross Margin 1,118,000 2,326,000 3,137,000 Operating Expenses Advertising and Promotion 25,000 25,000 25,000 Bank Service Charges 7,800 16,200 21,900 Charitable Contributions 78,000 162,000 219,000 Self Imposed Fee / Tax 130,000 270,000 365,000 Computer and Internet Expenses 13,000 27,000 36,500 Conferences and Training 25,000 32,500 40,000 Depreciation Expense 150,000 160,000 170,000 Insurance Expense 36,000 39,000 42,000 Miscellaneous expenses 18,000 24,000 36,000 Office Supplies 50,000 55,000 60,000 Payroll Expenses 659,000 843,000 1,078,000 Professional Fees: Accounting 36,000 40,000 44,000 Professional Fees: Legal 12,000 15,000 18,000 Rent 240,000 244,800 249,696 Repairs and Maintenance 48,000 48,000 48,000 Security Expense 260,000 270,000 280,000 Telephone 1,200 1,500 1,800 Utilities 36,000 40,000 44,000 Total Operating Expenses 1,825,000 2,313,000 2,778,896 Operatine Income (Loss) (707,000) 13,000 358,104 Interest Expense 90,000 120,000 100,000 Income before taxes (797,000) (107,000) 258,104 Income Tax Expense (Benefit) (126,800) (10,560) 160,000 Net Income (Loss) $ (670,200) $ (96,440) $ 98,104 Finance- A. Pro Forma and Operating Costs: Three Year Pro Forma Operating Budget (See attached pro forma calculation and tax materials) Blüm SL’s three-year pro forma budget has been developed based upon actual operating cost figure https://sanleandro.legistar.com/LegislationDetail.aspx?ID=2856010&GUID=7A053F77-B86F-4265-B56B-DFD441B45AA9
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