Opportunity
Problem
Long Branch, New Jersey’s rapidly growing borough on the shore’ is looking for a friendly and welcoming place that serves excellent food. This is where you know you will get all the best.
You have more opportunities than problems, except that it’s dinnertime in Long Branch.
Solution
Gabri’’s Lounge & Restaurant will include a cozy dining area as well an elegant lounge. The decor and furnishings are comfortable with soothing warm tones. There are antique love seat and comfortable couches in the lounge. The bar is softly lit. The lounge will be a great place to relax, have a drink, or host small business meetings. We will prepare special hors-d’oeuvre platters to make it more comfortable and appealing to large groups of people.
Market
Long Branch is looking bright for the future. Developers are creating a $150 million resort project. The old pier is being reconstructed and will offer ferry service to Manhattan, New York City, the boardwalk, beach cabanas and bike paths over 25 acres. There will be 100,000 sq. ft. of commercial space, and over 700 residential units with condo and townhouses ranging from $200,000-$500,000; rentals from $1000-$2,500 a month, and a two-tier garage. These elements together will create a city with a sustainable economy year round.
Competition
Red Bank, located just next to Long Branch, has the most restaurants. This is our biggest competition. Long Branch residents currently drive seven hours to Red Bank to get a meal. We are hoping to convince Long Branch residents with the redevelopment of Long Branch and Gabri’s Lounge & Restaurant that they will stay in Long Branch and eat in our restaurant.
Why Us?
Gabri’ s is a great place where you can enjoy a delicious meal and an engaging atmosphere. Our goal is to offer great tasting food as well as friendly, efficient and professional service. Customer happiness is our primary concern. We want to be the restaurant choice for all families and singles, young and old, male or female. Employee welfare will be equally important to our success. Everyone will be treated fairly and with the utmost respect. Our employees should feel part of Gabri’s Lounge and Restaurant success. Happy employees are happy customers.
We will combine menu variety, atmosphere, ambiance, special theme nights and a friendly staff to create a sense of ‘place’ in order to reach our goal of over all value in the dining/entertainment experience. We seek fair profits for our owners and a great place to work.
Expectations
Forecast
The Projected Profit and Loss statement has the most important assumption. It assumes that the gross profit margin is higher than industry averages. We will also spend more on payroll that the industry average.
We see modest growth in our first three year period, as restaurants rely on wordofmouth. As such, we expect to be able grow to the same extent as this chart.
Financial Highlights Year-by-Year
Finance Required
Funding is required to fund $300K startup expenses (details in company section), $85K startup cash reserve, and $80K noncash assets. We intend to invest $225K as an owner and obtain a $240K SBA long-term loan.
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