Quick Facts BYOB New American Cuisine Using French Technique Chef/Owner – Andrew Deery Multiple Award Winner – Including 3 Bells from Craig LaBan 6.5 Years Old Financed Through Friends, Family, traditional Bank Debt 35 Seats
Quick Facts Open Wednesday – Sunday – Dinner Only Average Customer Check +/- $40.00 Business Dependent on Food Only Sales Business Management Practices – Historically – Not Complicated PR & Marketing Effort Nearly A Full-Time Job In Order To Keep Seats Full & Capitalize On Positive Reviews
Past Majolica opened in 2005 As A Vehicle To Showcase The Artistry & Craftsmanship Of Professional Chef Andrew Deery The Restaurant Was Funded By A Combination Of Friends, Family & Bank Debt From The Start, the Restaurant Garnered Positive Reviews From All Important Media Outlets – And Continues To Do So
Present Restaurant Runs As a Week To Week Entity, Highly Dependent On Strong Weekly Cover Counts Over The Last 12 Months Basic Business 101 Principles Have Been Strengthened In An Effort To Improve Day To Day Operations All Expenses Are Closely Reviewed, Cut, Modified, Reined In And Monitored - Daily
Restaurant Currently Carries A Manageable Debt Load With An All Food Concept…. Gross Profit Margin Expectation – 5-8% PR & Marketing Budget Currently Less Than 2% of Monthly Sales Chef/Owner Compensation At Minimum Level
Present - Management Increasing Business-Side Management – Hired Professional Business Manager Increasing PR & Marketing Effort Through Greater Use Of Social Networking & Customer – Both Current & New - Outreach Continuing Affordable Fine Dining Concept With Current Menu Format That Highlights Greater Choice And Small Plates – Stronger Messaging To Highlight Value Without Sacrificing Quality
Present - Management Capitalizing On The Stellar Nature of The Andrew Deery/Majolica Brand Increase Andrew Deerys Public Exposure Outside The Box Initiatives To Increase Wednesday & Thursday Covers More Private Parties – Market Exists Business Function Outreach – Market Exists
Present – Needs Small Cash Cushion To Allow Majolica To Operate Mistake – Free Cosmetic Changes/Improvements To Current Infrastructure To Gain Improved Ambiance & Increase Available Seating – Needed For Weekend Business $12 - $15,000 Will Facilitate The Initiation Of Outlined Business Enhancement Plans
Present – Idea – Dining Club Offer Majolicas Most Loyal, Consistent And Enthusiastic Customers The Opportunity To Invest In The Restaurant In A Manner That Facilitates Current Operational Improvement Goals AND Brings Value To The True Supporters Without The Risk Of Loss To Them
Present – Dining Club Details Upfront Dining Payment Schedule: $1,000 = $1,500 Dining Credits $1,500 = $2,250 Dining Credits $2,000 = $3,000 Dining Credits Payment To Be Recorded On A Spreadsheet And Updated Weekly. Credits Do Not Include Tax & Gratuity.
Present – Dining Club Value @ Historic $40.00 Per Average Dining Ticket: $1,500 Dining Credit = 38 Single Dinners $2,250 Dining Credit = 56 Single Dinners $3,000 Dining Credit = 75 Single Dinners Note: Credit Deductions Will Be Made Based On Actual Amount Of Food Consumed. Averages To Be Used For Comparison Only
Present – Dining Club Mechanics: Dining Club Members Will Populate A Master Spreadsheet. Deductions To Members Account Will Be Made Weekly For The Value Of The Food Ordered & Consumed At Majolica An Email Outlining Member Balance Will Be Sent Weekly So That Members Can Monitor Credits
Majolica - Future What Should Be The Next Iteration Of Majolica ? Concept ? Location ? Size ? Liquor License ? Amenities ? Build On Brand – How ?
Majolica - Future A Project Encompassing The Next Majolica Is A 12 Month Process - Minimum The Next Majolica Will Require Investment Outside Of Current Sources The Next Majolica Will Need To Involve An Experienced Restaurant Operating Partner The Next Majolica Will Need To Capitalize On Revenue Generated By Alcohol Sales & Corporate Business As Well As Traditional A La Carte
Majolica - Future Potential Investment Vehicles Real Estate Ownership Liquor License Ownership Traditional Restaurant Business Ownership