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Sam, with his company Restaurant Productions Inc., negotiated
a deal with the Hall to lease the place, renovate it, and
eventually open it as a restaurant. Sam had one partner, but
negotiations fell through and he approached his friend John
Smith who already had experience in the restaurant business.
John owned one restaurant, Country Style Diner, and had just
opened Club 1 with two other partners. John jumped at the
chance to open a restaurant in that location and, at the same
time, decided to divest his interest from Club 1.
Management's main focus is to ensure the successful and profitable
operation of the main floor of CreditSunrise Fictional. Once
cashflow from operations of the main floor allow it, management
plans to finalize renovations to the balcony (seating capacity
of 60) and the basement (seating capacity of 250). For the
fire code, some of the renovations had to be done all at once
- for instance, the restrooms, the electricity, the windows
and exits, the ceilings, the acoustics, etc. The only thing
left on the two other floors will be the floor tile, and the
painting of the drywall. For the beginning of the summer,
CreditSunrise Fictional's side patio will be open, which will
provide additional seating capacity of 45 and will further
stimulate lunch sales.
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Management's initial plan is to firmly establish CreditSunrise
Fictional as a thriving venue within the Little West-Side
community. Once its operations and cashflow are stable, the
partners will evaluate the opportunity to purchase their existing
location from the current landlord, The Army Veteran's Association
of America.
Initial discussions have taken place with the current commander
of the association and he has already agreed to sell the building
at the "appraised value". Prior to the commencement
of any renovations, an appraisal was completed and the value
was set at $5,000.00. Management realizes that they would
require a minimum of 50.00% or $2,500.00 in liquid capital
to invest at that time.
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