Thomas Sergio
Atlanta, GA (USA)
Role(s):
Sergio Wine&Dine
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Startup
Location:
Atlanta
Industry:
Hospitality
Year Founded:
2005
Number Employees:
INVALID
Description:
We own an unsuccessful franchise, at a superb location, in an affluent, growing market.
This young franchise is troubled in many markets, including ours, as it addresses only approx. 25% of the dining market and is perceived to be overpriced and lack variety, i.e. provides poor value. This although diners recognize the products are of high quality. Diner quote "too little for too much".
As the business is losing money, we needed to find a solution before the end of the year, or close and lose the investment.
We have teemed up with a successful restauranteur/restaurant consultant to re-brand the venue with a proven concept. The restauranteur/consultant is not looking to expand his already sizeable empire and is not a potential partner. Our lender has agreed to fund 50% of the p