Sweet Auborn District in Atlanta Georgia needs a cafe that can serve its residents and those who work there. The area is rapidly growing in population, and many places that offer food are full. Cafe Apres/Diem closed the location and left an opening.
The Watertower in Atlanta’s Sweet Auburn District is a full service restaurant/cafe. The restaurant offers a full menu with moderately priced comfort food, influenced by African and French cooking traditions but based on time-tested recipes from all over the globe. The Watertower cafe has a dessert bar, magazines and a stage for live performances.
The casual dining/full service restaurant market is a $100+ billion industry in the United States, with annual increases in revenue outpacing 5% yearly. People are increasingly choosing to eat out. Restauranteurs and industry groups often point out that record numbers have been added by women to the workforce. According to industry associations, almost 20% of the money spent on food outside the home has increased between 1995 and 1955, in line with the growth in the number women entering the workforce. There are two income earners in a household so neither person has the time nor ability to prepare meals. As more people discover that eating out at home is a better option, the number of commercial food services has increased steadily since 1950.
The competition’s general structure is a 70-150 seat restaurant with outside seating. The prices of entrees vary from $7.00 to more then $25.00. All nearby establishments provide beer and wines at a minimum. Most serve liquor-spirits as well.
The Watertower offers affordable, high quality, affordable food and coffee-based products as well as entertainment to residents and guests within a radius of five miles. In time, The Watertower will establish itself as a “destination” of choice to the many residents of the greater Atlanta metropolitan area, as well as numerous out-of-town visitors.
In the first year of our business, we anticipate that income will reach $2.1million for calendar. It should reach $2.57million by year end 3.
Financial Highlights by Year
We will start with getting $214,000 dollars to get going. It is $124,000 from investor 1 or $64,000 from Investor 2. A $30,000 loan is also available. We will be able pay off the loan and invest by year 3.