Ralph Barton Jr
Santa Monica, CA (USA)
Role(s):
Founder/Owner/Principal
Gibbs Pizza LLC
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Startup
Location:
Santa Monica
Industry:
Food Service/Restaurant
Year Founded:
2009
Number Employees:
50-100 people
Business Stage:
Growth (profitable)
Entity Type:
"S" Corporation
Description:
Pizza sales and delivery - own 3 stores in Lancaster, Victorville and Hesperia, CA operating since 9/4/2009 (3 years).
Opening new store in October (already funded with private equity) so will have 4 stores total by 10/31/2012.
Looking to finance a 4-5 store mulit-unit development in La Canada and Bakersfield, CA
Papa John's offers strong incentives to development - near $80k in total savings per store opening so a great time to expand. I am pursuing a multi-unit development deal with PJ and am lookin for financing about $1-1.2m over a period of 30 months - $225k per store - one must open every 6 months for the 30 month development deal.
Gibbs Pizza LLC is profitable from P&L persective (has a large 5 year note which end on Sept 2014) - will be positive cash flow (inlcuding note) about $5k/mo.
Also have another LLC (McDonald Cakes LLC dba Nothing Bundt Cakes) which has minimal debt - $150k note total for both stores - one is profitable the other not yet - both open around 2 years.
Personal Balance sheet has Net Worth of about $750k in home equity and $300k in IRA funds.