2.0 Company Description
The Traditional Home-Style Restaurant will be located 7950 Camp Bowie West Blvd, Fort Worth, Texas. The restaurant will be wholly owned and operated by Jeff and Betty Wright. The restaurant will serve a variety of classic home-style favorites from pot roast and mashed potatoes to patty melts and vanilla ice cream.
The restaurant will be open 7 days a week with hours as follows:
Monday 11:00 am – 9:00 pm
Tuesday 11:00 am – 9:00 pm
Wednesday 11:00 am – 9:00 pm
Thursday 11:00 am – 9:00 pm
Friday 11:00 am – 10:00 pm
Saturday 11:00 am – 10:00 pm
Sunday 12:00 pm – 5:00 pm
The restaurant will be owned by Jeff Wright. Jeff began his restaurant career at the age of 15 working in a quick-service foodservice operation and earned his way through college as a server and bartender. After earning his degree, he worked for a regional restaurant chain and an independent fine dining restaurant. In these organizations he held the positions of Assistant Manager and then General Manager.
Betty Wright received her Culinary Degree from the Art Institute in Dallas. After graduation she was employed by a local chain restaurant and then at a Five Star Hotel in Dallas. Betty will be employed as the Kitchen Manager.
With the high turnover of help for startup restaurants, we will rely on family to fill in where required until we are off the ground and making a profit.
2.2 Legal Form
THR will be organized as a sole proprietorship, wholly owned and operated by Jeff Wright d/b/a Traditional Home-Style Restaurant. THR is registered in the state of Texas a community property state.
2.3 Start-Up Summary
The cost to open the restaurant is $363,000. The majority of the expenses are in furniture fixtures and equipment totally $110,000. The location requires some build-out and renovation totally $50,000 and will require approximately 30 days to complete. The Wrights will sub-contract the work themselves.
$175,000 of the start-up costs will be funded by the owners. The owner’s source of funds is a combination of liquid assets and marketable securities, primarily from their existing catering business.
2.4 Location and Facilities
The 3,400 square foot restaurant will be located in a West Roads Shopping Center, a retail strip center located in the Benbrook suburb of Fort Worth, Texas. The restaurant is located in a major traffic area, at the intersection of Camp Bowie and Cherry Road.
Benbrook, a suburb of Fort Worth, Texas, has a population of over 51,000 according to the 2010 U.S. Census Report. The residential population in the immediate area is comprised of a mixture of single family and multi-family housing. The median household income is $46,532. Major employers include Union Pacific and Bank of America.