Hi, My Name is Bahareh and my husband and I are in the middle of opening a quick-service restaurant/lounge
We have a great location in which we have signed a 10-year lease downtown Toronto at dundas square right across from Toronto Metropolitan University (formerly Ryerson University).
This location is set up for two floors. Our vision and plan are on the main floor Middle Easter food (with 20 seats) and on the second floor, there will be bubble tea and a desert center (ice cream cakes, waffles etc) where people can relax and chill. We will also be offering free Wifi for patrons as well. We Have invested our life savings into this project, signed Franchise agreements and the Lease for the unit (10 years with 7 months free rent and 5 months TMI only).
Here are the Facts about the Location (why we picked it) and the Business
LOCATION:
1. approximately 50 million visitors annually come within the downtown Yonge Street Corridor
2. We are steps to Toronto Metropolitan University, Eaton Centre, Financial District and Yonge-Dundas Square
3. There are existing 180,000 +/- residences and 400,000 +/- workers daily within 10 min walking distance of the unit
4. there are 10,000 +/- residential developments within a 2 km radius of us
5. Subway/Metro College station 270m, Dundas Station 290m, Queens Park Station 850m, and St Patrick Station 850m
6. Hospitals within 10 min drive are Toronto General Hospital, St Regis Hosptial, St Michael Hosptial Clinical Research, and Steadson Hosptial
REVENUE PROJECTIONS
1. The average sandwich retails for $10.49 and the average meal sold (as per franchise disclosures) is $12.49
2. Projection of sales per day for the first year is as per the below estimate
Gross Daily Sales.
$3000
$3500
$4000
Gross Sales/Month
$90,000
$105,000
$120,000
Net Profit 25% (as per Franchise Agreement)
$22,500
$26,250
$30,000
Ave Transactions
240
280
320
3. the unit will also employ full time approx 5 -7 people and 15-18 part-time staff which also creates jobs within the area
HOW WE WILL BE GENERATING SALES
- 180,000 current resident + 400,000 daily workers = 580,000 people
- 5% of this population wants to eat out = 29,000 per month or 967 per day
- we capture 25% of this audience daily which is 242 transactions per day
1. walk-ins
2. food app services (uber eats, skip the dishes etc)
3. catering (business firms, hospitals, city hall)
CATERING OPPERTUNITES
we are aware that our location is a highly dense area which is filled with law firms, business organizations, schools, hotels and city of Toronto hall. These are all catering opportunities. We are hiring a staff to sell catering contracts to take advantage of this sector as well.
BUSINESSES/MEETINGS
-10 contacts (spoken to) each day x 5 days =50 contacts
-50 weekly contacts 30% move to presentation stage 15 presentations per week booked
-15 Presentations : 1 signed contract or 4 Signed Contracts Per month or 48 Contracts Per Year
-Average Contract Spending $1000 a quarter x 4 = $4000 per year
48 Contracts x $4000= $192,000 in Gross Revenue
WEDDING/SOCIAL GATHERING
-We will be focusing on the "Midnight Table" Sales
-Average Mid Night Table is $3500 per wedding
-our mandate between June-August to have 35 weddings
Sept-November to have 15
----------------------------
50 Weddings Per Year x $3500 = $175,000 Gross Rev From Wedding Sales
HOLIDAY SEASON
-Holiday Season Table can run corporations between $2,000 to $10,000 depending on the size of the firm, gathering and organization.
-Our Median Holiday Budget $3000 x 20 Events =$50,000 Gross Rev in Holiday December Revenue
Our Story
My husband and I have been married for 2 years. Even though we met later in life we feel blessed to have the love we have for each other. We both immigrated to Canada at different times. I came with my family from Iran in 1989 and my husband came in 2007 from Syria. We were both born and raised in Tehran, Iran. In fact, born and raised on the same street even though we didn't meet until 2021. Our love story started then but Life decided to take us each on separate journeys until we met.
I have a 20-year career in retail finance and my husband has restaurant experience. This is the reason why we picked franchises so we would be able to hustle and work hard with the guidance and direction of the franchisor. We are not afraid to work hard and build and serve our community. We have set up that 20% of each dollar of our net profit goes to serve the less fortunate families for the duration of the business.
We have our capital and alongside bank loans, we are short $75,000
.