Coast Restaurant Group | Application Preview
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General Information
Business Registration Number: 32070111334
Location: forney, TX, United States
Length of Operation: 0
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
I will use the funds to build out space. I.E. Add grease trap, add bathrooms, install updated plumbing.
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Business Plan
Our primary objective is guest satisfaction and to build a loyal customer base. We also want to reach the people outside of Forney city limits and let them know there is an alternative to Dallas. To better position, Christopher’s as the go-to restaurant we need to generate traffic, from all areas of DFW. Our goal is to be profitable! Without a solid market plan in place, we will only serve as a place holder for a bigger brand to come in a fill the void. Marketing is pivotal for sales growth. Christopher’s will target a 30-mile radius of Forney, moving further out as brand growth allows. We are looking to partner with Forney ISD for credit to students who want to learn basic cooking skills, we will also offer catering and takeout meals. Because Forney is comparably small when compared to Dallas, we will need to market smart; we will provide a dining club and a member’s card. Christopher’s is an upscale family steakhouse that will provide diners in the city of Forney and surrounding areas with an upscale dining experience and will feature a menu based on prime steaks, Local fresh produce paired with wines from local and countrywide venues. Christopher’s is being developed by Christopher & Marina Bridges. Chris brings 25 years of industry experience, having spent seven years traveling the word; Chris will add a touch of international elegance to the menu and atmosphere. Marina brings with her knowledge of business dealings. Having spent five years in the US Army as a logistics and movement director, controlling upwards of $100 Million in assets Marina will be an integral part of Christopher’s financial success. Christopher’s menu will be priced to achieve an average check of $24.00 at Brunch and $42.00 at dinner (including beverages). First-year sales for the restaurant are estimated to be $1.500,000 with a prime cost of 56%. Operating cash flows before taxes for the first full year are projected to be $699,564 or about 45% of sales. Christopher’s will be located at 105 East Main Street which is part of the Historic Downtown Forney neighborhood. This area is becoming increasingly popular with Christopher’s target market of Young adults and families needing an upscale place to dine, and host catered events. While there is a growing local restaurant competition for this segment, these restaurants are fast casual and drive-through. Based on recent experience in this market, the development team feels there is a viable niche for a restaurant like Christopher’s. Anticipated buildout costs, including funds for working capital and contingency, are $300,000 or $2,000.00 per seat. The team behind Christopher’s is contributing a total of $130,000 in personal equity to the project and an additional $25,000.00 in grant funding and seeks an additional sum totaling $145,000.00 in order fully finance the development and initial operational expenses of the restaurant.
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Self Identified Competition
Eno’s Pizza Tavern. Eno’s is an Italian restaurant with 60+ seats that emphasizes Pizza and Craft beer. Entrees at Eno’s are between $13 to $16, while appetizers and desserts range from $5 to $13. Eno’s has proven very popular with our target customer, especially on the weekends. The restaurant is closed on Mondays and does take reservations. Recent reviews rate this restaurant as 4 stars and reviewers specifically note the pizza, Truffle bread and date night. in their online reviews. Chili’s Grill & Bar is a Tex-Mex style casual restaurant with 200+ seats that emphasizes an array of quick served foods, Margaritas and Craft beer. Entrees at Chili’s are between $13 to $21, while appetizers and desserts range from $6 to $14. Chili’s has proven very popular with our target customer, especially on the weekends. The restaurant is open seven days a week and does not take reservations. Recent reviews rate this restaurant as 2 stars and reviewers specifically note fast service, food is good for what it is and local. in their online reviews. We also are aware of 0 new restaurants being proposed in the area that we think will target a similar customer. While we recognize that we have some stiff competition, particularly from Eno’s and Chili’s, we understand that the customer base that we share with these restaurants is relatively large and growing. Christopher’s is bringing a level of service to Forney never seen before. There are a few other restaurants in the area that are similar in menu and price point] but are not offering a similar dining experience. The closest competitive restaurant is 28 Miles away. SImple because we care about people more than money. Do not neglect to show hospitality to strangers, for by this some have entertained angels without knowing it. Loyalty- Show loyalty to each other and the business you’re in! Duty- Be where you need to be on time, and in the correct uniform having taken no shortcuts! Respect- Treat our family, guest equipment, and building with respect! Our mission is to bond people to gastronomy, to allow people to feel comfortable while eating with us. Because we are a family, we will encourage families to dine with us. Though we are in fact a for-profit company, we want to give back to the community. To this end, we are going to offer a free Thanksgiving dinner for those who otherwise cannot afford a meal, for those without a family in the DFW area, and for the first responders who must work. Christopher’s will also serve as a community cooking school, teaching basics skills at a cost per student. We will offer seniors, citizens, a discounted meal for the lunch hour. Christopher's is a great place to eat, combining an intriguing atmosphere with excellent, interesting food. The mission is not only to have great tasting food but have efficient and friendly service because guest satisfaction is paramount. We want to be the restaurant of 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. We want our employees to feel a part of the success of Christopher's Steakhouse. Happy employees make happy guests. People will come back to spend money, all we need to do is take care of them.
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