Michael Leigh
Naples, FL (USA)
Role(s):
Founder/Owner/Principal
The Talk of tht Town
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Startup
Location:
Naples
Industry:
Food Service/Restaurant
Year Founded:
2011
Number Employees:
10-50 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
Introduction/Statement of Purpose; The Talk of the Town is an exciting new casual theme concept offering a diverse menu featuring specialty items and traditional fare served in a slightly upscale ambiance.
The Talk of the Town will be owned and operated by, MRL Restaurant Ventures, LLC. The creator/owner Michael Leigh and managing members are seeking to raise investment capital, obtain financing and secure an ideal location for the restaurant.
The managing members have a collective 30+ years’ experience in the restaurant industry. Their combined efforts in the creation of The Talk of the Town have served to yield a detailed plan that encompass the necessary elements required to succeed in Intense market research and target market evaluation suggest that The Talk of the Town is ideally situated to cater to an unfulfilled market segment. Moreover, years of operational and marketing experience have been organized and documented to create a comprehensive blueprint for success. Proven marketing techniques and operational systems will allow management to be proactive rather than reactive to the conditions and obstacles associated with opening a new restaurant concept.
Having a sound operational plan allows management to focus on building sales rather than profit. The managing partners have an extremely high degree of confidence that the systems and controls incorporated in the business plan will yield a calculated return for a given sales volume
Sales projections for The Talk of the Town assume a modest 3255 customers per week resulting in weekly sales of just over $43,975, or $2,286,700 per year. This equates to around $508 per sq. ft. in sales annually which positions The Talk of the Town as a highly desirable concept for ownership in a table service market where $300 to $400 per sq. ft. is considered moderately profitable and therefore a good investment. Expectations are that The Talk of the Town will yield a net cash flow of between 4.5% - 6.6% of sales, after debt payment, during the first five years of operation.
Total capitalization will amount to $667,175, $450,000 of which will be contributed from the members and the balance secured through a proposed bank loan.
In closing, we feel the business plan for The Talk of the Town represents a realistic expectation of success for all parties involved. Moreover, we will be providing a benefit to the community by providing a great product and secure jobs to community residents.