Opportunity
Problem
Long Branch is an expanding New Jersey suburb that needs to be warm, friendly, and provide excellent food. The place you can trust to get the best.
There is more opportunity than problem, unless you’re at Long Branch at dinnertime.
Solution
Gabri’s Lounge & restaurant will offer a relaxing dining room and a stylish lounge. Warm tones and comfy furnishings. You will find antique love chairs and comfortable couches here. It is the perfect spot to have a quick bite, a glass of wine, or for small business meetings. For extra comfort and to please a large group of people we will make up special hors d’ oeuvre platters for customers.
Market
Long Branch’s future looks bright. A $150 million resort project is being reconstructed by developers. The old pier will now be reconstructed with ferry service to Manhattan and New York City, as well as beach cabanas, boardwalks, and a bike trail covering 25 acres. It will cover 100,000 square feet. Over 700 residential units will be available with condo and townhouse prices ranging from $200,000 to $550,000; rents starting at $1000-$2,500 per mo. and a 2-tier garage. This combination will give the city a year-round economy.
Competition
Red Bank, a nearby town, has many restaurants and is our largest competitor. Long Branch residents currently drive seven hours to Red Bank to get a meal. We hope to persuade Long Branch residents to stay and eat at Gabri’s Restaurant and Lounge.
Why Us
Gabri’’s is a great place for a meal. They combine a fascinating atmosphere with outstanding, delicious food. It is our mission to not only provide great food but also friendly and efficient service. Customer satisfaction is the most important thing. We want to be the restaurant choice for all families and singles, young and old, male or female. Our success will depend on the well-being of our employees. Everyone will be treated fair and with the most respect. We want our employees feel part in the success of Gabri’s Lounge and Restaurant. Happy employees make happy customers.
To achieve our goal of providing the best dining/entertainment experience, we will mix menu variety, atmosphere, ambiance and friendly staff. We seek fair profits for our owners and a great place to work.
Expectations
Forecast
The Projected Profit and Loss statement’s most important assumption is the gross margin. It should be higher than the 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 per Year
Financing Required
$465,000 of funding is needed to finance $300K startup expense (in detail in company section) plus $85K of startup cash reserve and $80K non-cash assets at launch. We plan to put in $225K owner investment and land a $240K long-term SBA loan.