Mark D'Angelo

Calgary, AB (CAN)
Role(s):
Founder/Owner/Principal

Kits on 16th

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Location: Calgary
Industry: Hospitality
Year Founded: 2006
Number Employees: 1-10 people
Description: We are a neighborhood pub (Steve Sheridan and Mark D'Angelo owner/operators) on the trans canada highway that cuts right through Calgary and are 3 blocks from a college that has a student base of 11,000 plus and surronding neighborhoods behind us and across the street. We have been operating for 3 years and have doubled the sales from the existing owner from 400,000 annually to almost a million annually in the first year by word of mouth only, essentially all our advertising is by word of mouth because we do not have the extra cash flow to put towards serious advertising. We are a two level bar licensed for 120 downstairs and 165 upstairs. We have been doing standup comedy on Wednesday nights since April of 2008, live blues jam on Saturday afternoons since May of 2007, live blues jams on Sunday nights since March of 2006, pool league every Monday,Tuesday,Wednesday from September to April since we opened,just started live jazz every Friday (Jan 2009), we have private parties in the basement every Friday and Saturday, we are also big promoters of our local NHL team (Calgary Flames) and CFL team (Calgary Stampeders) and of course NFL football and UFC are tops on our list, we have a full scale menu that is prepared by a red seal chef, catering has been part of our business as well, we have done live bands upstairs from time to time and hopefully can get it going every weekend,we also have 3 VLT'S (video lottery terminals) that generate good revenue. When we purchased the bar there was construction to be put in place to widen 16th Ave to 6 lanes and bring it into the new age because it was run down and causing many problems for people who use 16th every day. It was only to take a year to complete and of course this is not the case as they are still not done the east leg after 3 years but it will be complete in spring of 2009. When the construction was directly in front of our business during summer of 2008 there was no access to our business for 8 weeks of 16th Ave and this is where our coffer was eaten up very fast to cover overhead because there was a noticeable drop in monthly sales. With the construction almost done that is a huge positive for us plus the City of Calgary has just rezoned 16th and 17th Avenues to RM 4 which means we will see office towers, condos and other new buildings going up. This process has already begun as we are seeing some of the older buildings being excavated to make room, the potential is huge in the next 2 - 3 years, it was just a matter of weathering the storm and i think Steve and I have done a good job in doing this (we have 46 years experience between the two of us in the bar business). What we are looking for is an investor so that we can have working capital to do the things that will bring us to the next level, as it stands right now it has been operating from month to month with no coffer so when a slow week or month hits it puts a huge strain on the financial side of the business. We are looking for 125,000 to 200,000 (negotiable) and are willing to give up a percentageof the business to the right investor. You can check out our website at (URL removed) Thank You and we look forward to hearing from you.