Erin Brooks
San Francisco, CA (USA)
Role(s):
Founder/Owner/Principal
Coco Rico
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Startup
Location:
San Francisco
Industry:
Food Service/Restaurant
Year Founded:
2014
Number Employees:
50-100 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
Coco Rico is the third rendition of our very popular SF based Mexican Restaurant concept named Tropisueño. Currently in our 6th year, we do 5.5 million in under 3,000 sq. ft. We offer authentic, value priced Mexican food in a beautiful room with a full bar and a hand-crafted cocktail program. My partner and I have a combined 50+ years experience in the industry and we have created a unique concept that capitalizes equally on two day parts. Our restaurant(s) function as a Taqueria(s) by day ( we do about 600 lunches per day) and a full-service sit-down Restaurant(s) at night (250-300 covers). Our net is ten percent and climbing, as are daily sales (we start breakfast this week). Our staff oversees 99% of daily operations (for the past 2 years), thus freeing us up to build our 3rd and 4th locations. Trop has 2256 Yelp reviews and a four star rating.
We currently have 2 ready-to sign leases on the table for two excellent locations . Seeking 725k for location#3 and 400k for location #4. Both new locations are cosmetic builds only (Trop was a full build costing 1.6 mil) with similar 6 million in yearly revenue projected . Investor Payback is under 3 years. This is a scalable concept.