Eric Burgdorf
Behesda, MD (USA)
Role(s):
Founder/Owner/Principal
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Startup
Location:
Bethesda
Industry:
Food Service/Restaurant
Year Founded:
2011
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
I am planning to start a restaurant in the DC area. As the location notes, I am focused on a few specific areas to open a first location. DC areas include Logan Circle, K Street, and U Street Corridor. Bethesda and Clarendon are also prime locations. These are some of the most economically insulated areas in the entire country. I am a former Wall St. equity trader, with keen sensitivities to risk. I have tailored the Business Plan to mitigate as much risk as possible in a high risk industry.
First, I am working from a known model. Having lived in New York for years, I grew to love some of the micro-scale, specialty establishments putting out fantastic food at a reasonable price. I hope to bring some of these concepts to the DC area, staying as true to the existing, established, successful model as possible.
Second, that means micro-scale. 500-1000 square foot space. 20 -30 seats. Think casual dining (Chipotle) but smaller. No servers. 5 or 6 people on clock at a time as opposed to 10.
Lastly, the DC area is very economically insulated. Compared to the rest of the country, excluding some affluent urban areas, DC is a bubble.
Full Business Proposal and Spread Sheet Projections prepared. Full marketing strategy including important electronic media outlet strategy. $240,000 includes startup costs and six months of working capital with no revenue. Clearly, total costs could be much less. If you are operating for 3 months + without creating a buzz and little revenue, you are dead in the water. Fully developed plan. Experience in the industry from back of the house to front of the house as youngster and financial background.