Prepared for lenders, CDCs, and federal agencies to SBA SOP 50 10 8, USDA RD Instruction 5001, and conventional underwriting standards. Fiduciary duty runs to the lender and the agency, never the borrower. More than 4,000 studies since 1998 covering $40.2 billion in evaluated project value.
Restaurant feasibility is the most operations-dependent analysis in commercial lending: trade-area demand by daypart, the concept's check-average and turn economics against the named competitive set, the site's visibility, access, and co-tenancy, and an operating model — food cost, labor model, occupancy ratio — tested against industry benchmarks rather than the operator's aspiration. Full-service, fast-casual, and QSR formats each carry distinct unit economics the study addresses specifically, and franchise concepts add royalty, advertising-fund, and territory analysis.
Methodology uses trade-area demographics and spending data, competitive census with observed traffic, RMA and industry operating benchmarks by segment, and franchise disclosure review where applicable. The model carries sales build-up by daypart, prime-cost sensitivity, and program coverage tests under conservative volumes.
Every Wert-Berater financial model is fully linked with no hardcoded values, so any reviewer can stress any input. Deliverables comprise a complete narrative report and the linked Excel model, with ten-year pro forma, sensitivity analysis at ±5, 10, and 15 percent, interest-rate stress from +0.5 to +3.0 percent, and ratio analysis benchmarked against RMA and IBISWorld data.
SBA engagements are prepared to SOP 50 10 8, including its debt-service-coverage minimums of 1.15x operating and 1.00x global. USDA engagements follow RD Staff Instruction 5001 across the Business & Industry, Community Facilities, REAP, and Value-Added Producer Grant programs. Conventional engagements are built to the lender's stated coverage standard, typically 1.20x. Roadside and transportation-service projects arrive under SBA 504 and 7(a) for owner-operators — with SOP 50 10 8 special-purpose property treatment addressed where it applies — USDA B&I at qualifying rural locations, and conventional structures for multi-site operators.
The firm's food-service record spans franchise QSR co-tenancy within fuel-retail engagements, taproom and chef-driven concepts including a $4,840,000 recreation and taproom venue in the Austin MSA, and restaurant components across its hospitality practice. Independence is non-negotiable: determinations follow the evidence and are not revised under pressure, and studies are built to pass lender, agency, and third-party review without exception items.
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