Opportunity
Problem
Sweet Auborn District of Atlanta Georgia is in dire need of a café that serves both residents and the people who live there. The area is rapidly growing in population, and many places that offer food are full. The cafe that was serving the function, Cafe Apres/Diem moved out of the area leaving a opening.
Solution
The Watertower, a full-service café/restaurant located in Atlanta’s Sweet Auburn District, is the Watertower. The restaurant serves a full range of affordable comfort food that is influenced by African cooking traditions and French cuisine, but also uses time-honored recipes from around the globe. The Watertower cafe has a dessert bar, magazines and a stage for live performances.
Market
The casual dining/full service restaurant market is a $100+ billion industry in the United States, with annual increases in revenue outpacing 5% yearly. There is an increasing number of people who prefer to eat at restaurants. One of the most common reasons cited by restauranteurs and industry associations is that women have joined the workforce in record numbers. According to industry associations, almost 20% of the money spent on food outside the home has increased between 1995 and 1955, in line with the growth in the number women entering the workforce. Because there are two incomes per household, it is possible that one person will not have the time to cook. The number of people who prefer to eat out rather than cooking has increased since the 1950s.
Competiton
The competition is generally a 70-150 seat restaurant, with outdoor seating. The prices of entrees vary from $7.00 to more then $25.00. Nearly all of the establishments offer beer and wine. Most also serve liquor-spirits.
Why Us?
The Watertower will provide accessible and affordable high quality food, coffee-based products, and entertainment to the thousands of residents and hotel visitors located within a five-mile radius. The Watertower will become a popular destination for many residents in the Greater Atlanta area and visitors from out of town.
Expectations
Forecast
We anticipate income to exceed $2.1 million for calendar in the first year. By the end of the third, it should rise to $2.57million.
Financial Highlights Year-by-Year
Financing Needed
To get things started, we need to raise $214,000. That is $124,000 from investor 1 and $64,000 from investor 2. A $30,000 loan will be also available to us. We will be in a position to repay the loan as well as the investment within 3 years.