Ten/6 | Application Preview
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General Information
Business Registration Number: 882313471
Location: Coeur d Alene, ID, United States
Length of Operation: 1-5
Number of Employees: 11-25 Employees
Annual Gross Income: $500k to $1M
Annual Gross Expense: $500k to $1M
Open to Loans: NO
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Funding Usage
If awarded the grant monies we would be able to purchase the extra equipment necessary to expand our service lines at Ten/6 and support the bigger space this new building provides for us. Expansion takes some up front capital and that is the boost we need to ensure we open this new chapter of or our business, our story “right”! We need tangible things like a convection oven and quick cook oven to support our pastry and “take away” menu items that we are introducing this time. We need some under counter refrigeration units for our espresso bar as well. All of this is expected to cost around $12,000.
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Business Plan
Key metrics display a measurable value that shows the progress of a company’s business goals. We chose these two metrics to focus on. As a restaurant, you only have so many seats and so many hours in the day. Something like sales revenue is helpful however, this will not be much help to us in measuring our growth. This business metric indicates how efficient your company is at generating profit compared to its revenue. By using our personalized calculations we have tailored to our menu, we can see when prices for cost of goods rise meaning we need to adjust our prices, dishes, etc. The Net Profit Margin is a good way to predict long-term business growth, and see whether your income exceeds the costs of running the business. By raising the price of our dishes/after hour events this will help increase our revenue. Having loyal customers is possibly the most beneficial in many ways. It helps to grow our sales and spread the word about our restaurant. It creates trust with our guests and allows us to have loyalty even in the most dire of market situations. There are several unique revenue streams that allow us to build a very loyal relationship with our guests. This being the exclusive 7 Club annual membership, custom enamel pins that create a cult following (these are themed and rotate around the seasons allowing our patrons to collect them all, always wanting the latest pin {find these on our website ten6cda.com under “Wear Me”}), “room service” for our tenants upstairs, etc. The Retention Rate shows the number of clients who keep using your product over an extended time period and make repeat purchases. Using our Heartland POS to track this, we can see just how high our retention rate is. Another 5 year plan is to hone in on our branding to allow for the expansion to "Ten/6 Fix", an immersive "quick drive thru" experience where our guests can get the incredible beignet pastries they love and with award winning Specialty Coffee. We have also expanded into our own Cajun spice company that will be another leg of our branding. Coeur d’ Alene has always been known to have a strong breakfast culture. Several establishments have been in business for years here offering desired hours, just enough seating, and the very typical, established entrees. Relying on frozen food options and over compensating large portions in outdated and dingy buildings have been the best our city has had to offer for years. With an absolute boom in population over especially the last five years - this breakfast culture and the tourism increase in our city is skyrocketing. According to the U.S. Census Bureau, “ the Mountain and Pacific regions are projected to experience the highest population growth rates, (one of the main factors in restaurant sales) over the next ten years.” :(BLS.gov, 2022). Coeur d’ Alene is the fastest growing metropolitan area in the fastest growing state in the nation, U.S. Census Bureau data shows the city of Coeur d’ Alene, currently with a population of about 58,000 is projected to reach 81,000 by 2035 and 292,600 by 2060. : (Wall St. 2023). There are no other brunch establishments in our city that deliver what we coined “the holy trinity” of hospitality; outstanding housemand unique dishes, impeccable personalized service, and a magical immersive atmosphere. Certainly none that are truly destination worthy. There is a lack of choices for local families to have a staple destination to celebrate special occasions and engage in making unforgettable memories or “moveable feasts'' - (Ernest Hemingway). Ten/6 was a wildly popular breakfast and lunch destination restaurant based in the heart of Midtown Coeur d’ Alene. We are a mother/daughter duo who want to share our passion and love behind our mission to create the most memorable experiences folks can have with their families in our region. We offer the highest quality Cajun/Creole influenced and inspired breakfast and lunch menu with every dish being handmade in house from recipes we developed after being trained by a true Acadian Cajun native - our “brother from another mother”, Casey Johnson. We serve unique and otherwise unavailable French Quarter influenced brunch beverages, specialty coffee, and beignets that have been repeatedly touted as better than the “famous” ones in New Orleans. Described by guests as “whimsical”, and “pure magic”, guests are surrounded by family heirloom and eclectic decor and playful jazz music that make them feel like they are in another land…. Our WONDERLAND!
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Self Identified Competition
There are a growing number of restaurants offering “brunch” in our region - almost all being based on a similar formula; standard fare with lack of any commitment to housemade creations, theming or considerate decor and atmosphere, or to personalized hospitality and service. Several longevity establishments exist in our city that continue to serve the same menu and do so from an outdated space. These establishments have provided a base for consistent, never changing experiences that are coveted by many. Gravy from a can is consistent - a worn out booth is a familiar and welcomed presence on weekends for some. Brunch “happenings” and pop ups are occurring more and more in our town, but only offering things like “bottomless mimosas” and giant bloody mary’s for a draw. There is an apparent lack of commitment to quality, originality, and experience in what is currently being offered from said competition. Knowing this we recognize our guests always have the option to "dine" anywhere in our community, however, they will not have the option to "EXPERIENCE" anything like Ten/6 in our area. We seek to solve the problem of being ordinary. We strive to be an example of how a small business, locally owned and physically operated by us who grew up here, can influence our home town, to help their neighbors. To support ancillary services and essential city and county entities in our community. By reaching people with the commonality of food, family first, memories, and music, we know we can become a pillar in our town that sets the bar for community charity donations, support and networking. There is an ever growing division amongst many, and we know we can help bring folks together with community based goals of working commonly to help strengthen our worth in helping others.
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Contact Applicant
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