Ardoo Phon

San Antonio, TX (USA)
Role(s):
Founder/Owner/Principal

In My Life Dining Lounge

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Location: San Antonio
Industry: Food Service/Restaurant
Year Founded: 2008
Number Employees: 10-50 people
Description: In My Life Dining Lounge is the name of the full service restaurant I wish to start up on. The idea for the name of the restaurant derives from one of my favorite Beatles songs. I have been involved with the food industry for 8 years and have worked every position until I was promoted to Manager two and a half years ago at Tokyo Steak House. The business will have three owners, my brother Aslawuth Phon, Joseph Drescher, and myself. We are currently in the process of registering the business with an attorney as "I Feel Fine LLC." I have worked with Joseph Drescher at Tokyo Steak House in San Antonio for 8 years and he has been employed there for 14 years and has been the bar manager for the past 7 years. We have a completed business plan with financial statements and projections estimated at $900,000 for total sales for the first year and a gross profit margin of 63%. The restaurant will provide a comfortable dining experience serving filet mignon, ribeyes, lobster tails, salmon, and special seasoned and battered shrimp and wings. There is an outdoor patio enough to seat up to four guests per table at 8 tables. Inside dining will have 11 tables that may seat up to 4 guests per table. The space has a full standing bar and is in the correct zone to serve food and alcohol. The space in a plaza that is close to two major highways, the most popular mall in San Antonio, the airport and surrounding hotels, and many car dealerships including the only Mercedes and Lexus dealerships in the city. We have finish out bids estimated at $15,000 for improvements and are currently at the stage of searching for a lender to provide financial assistance. The project requires $150,000. Of this amount, we will invest $45,000, and are looking for a loan of $105,000 for equipment and startup costs. A work staff is ready, composed of previous employees and co-workers which provides a familiar and experienced work enviorment. In hopes of providing the community with a nice place to enjoy great food and service, I hope In My Life Dining Lounge can become a successful idea turned into a profitable and beneficial investment backed by experienced management and a solid business plan.