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.
More opportunity than problem, in fact – unless it’ is dinnertime and you’ re in Long Branch.
Solution
Gabri’s Lounge & Restaurant will feature a cozy dining room and an elegant lounge. Warm tones and comfy furnishings. There are antique love seat and comfortable couches in the lounge. The bar is softly lit. It will be the perfect place to stop in for a bite to eat, for a drink or for a small business meeting. 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 is bright. Developers are building a resort worth $150 million. New ferry service will be provided to Manhattan, New York City. There will also be beach cabanas on the pier, a boardwalk and a bike track that covers 25 acres. There will be 100,000 sq. 100,000 sq.ft. commercial space and 700 residential units. These include condo and townhouses that range in price from $200,000-$500,000 and rentals of $1000-$2,500 each month. The combination of these elements will provide the city with a year-round economy.
Competition
Our biggest competition is the town next to Long Branch, called Red Bank which has a large selection of restaurants. Long Branch residents often have to drive seven-miles to Red Bank in order to eat out. 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 fantastic place to eat. The restaurant combines a unique atmosphere with great, innovative food. The mission is not only to have great tasting food, but have efficient and friendly service because customer satisfaction is paramount. We strive to be the choice restaurant for singles and families, old and young, male and female. Our success will not be possible without the support 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 want fair profits for the owners, and a rewarding place to work for the employees.
Expectations
Forecast
The Projected Profit and Loss statement’s most important assumption is the gross margin. It should be higher than the industry averages. Also, we plan to spend more payroll than 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 by Year
Financing Needed
For $300K startup expense, $465,000 funding is required. (Details are in the company section). $85K startup cash reserve and $80K other non-cash assets will also be needed. We intend to invest $225K as an owner and obtain a $240K SBA long-term loan.