Cupertino Garcia
Franklin Park, NJ (USA)
Role(s):
Founder/Owner/Principal
Cancun Bar
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Startup
Location:
New Brunswick
Industry:
Food Service/Restaurant
Year Founded:
2011
Number Employees:
10-50 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
Right now what we have so far are the plans for a bar to be situated in downtown New Brunswick. We have made arrangments with the owner of the vacant land who is selling 3 lots for $275,000 and is willing to sell his liqour license for $250,000. Have talked to several contractors as well as my architect who projects the bar construction to be around $550,000 to $650,000 all finished with details alreday done. I have experience in the bar business and restaurant business totalling more than 15 years. Because of my divorce my last bar was given to my ex-wife. Currently i Have a net worth of about 1.3 Million however I need $150,000 downpayment to get this project started equalling 10% for a commercial loan. Timespan for this project to be finished is about 3 to 4 months just in time for summer. Because of my experience of the bar business and knowledge of the area I know this bar will be very profitable. I am looking to pay off the loan in less then 5 years with interest as if were paid off 20% annually.