06-25-2014 Council Agenda - Laserfiche WebLink

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This portion of funding is intended for hiring employees to produce the services and assist marketing and sales efforts. $2,500,000.00 for Build out and equipment This $$ will be used for the entire build out and purchase of the equipment The Business is looking for long-term debt funding. Financial projections forecast a break-even point in less than 3 years after product introduction. Conservative estimates show at least a 15% return on the investment by the end of the financing period. II. BUSINESS SUMMARY The business is a start-up business, providing clients with Dining and live entertainment. VooDoo live will open daily serving cajun style New Orleans food. Cajun wings, ' Po Boy' sandwiches, shrimp gumbo while offering its patrons a sports bar atmosphere to enjoy sporting events while enjoying some of the southern inspired cocktails. We also plan on having live entertainment although this might be for a maximum of 100 nights a year Industry Overview. The Food, entertainment industry in the United States currently generates $2,000,000.00 in annual sales. Annual revenue for the regional market where the business is located is estimated at $2,000,000.00. Seasonal Factors. The Business would only be influenced by the seasonal factors that affect our customers. Since the demand for our services crosses many different businesses and industries, seasonal fluctuations are expected to be limited to the typical down turn in the dull period months are not affected by the annual holiday schedules. Position in the Industry. We believe that by offering a New Orleans style menu along with a sports bar vibe as well as live music we will set ourselves apart from other venues Legal Issues. The promoters have secured the required patents and trademarks for the services and processes of the business in accordance with the statutory requirements. Location. We have a 10 year lease with 2 five year options III. MARKETING SUMMARY Target Markets. The main target markets for the business include: locals that have a taste for cajun style food as well as live music It is estimated that there are 250,000 potential customers within the Business defined trading area that are estimated to spend $40.00. To seek the most profitable market segments in the target markets overall, the Business will focus on the following areas within the target market: We will market this venue to the local population. We believe there is a 19