Published on February 18, 2009
Concept Creative Hospitality Group, Inc. (CCHG) LaTanya White, MBA Owner, 71 Proof LLC 1700 N. Monroe, #11-171 Tallahassee, FL 32303 [email_address] 850.443.8544
~ Florida’s Capital City cannot retain working professionals ~ Heavy reliance on government jobs is not attractive to the creative class ~ City experiences “brain drain”, 25-54 YO demographic is not engaged: they have the most job opportunities and will relocate The Problem
“ The Soul of the Community” Gallup Poll found: ~ Tallahassee’s critical opportunity was in its need to offer more social and entertainment venues ~ 25-54 YO demographic needs to be engaged in the community in order to retain them ~ Establish Concept will be the Soul of the Community The Solution
“ The Soul of the Community” Gallup Poll found: ~ Tallahassee’s critical opportunity was in its need to offer more social and entertainment venues ~ 25-54 YO demographic needs to be engaged in the community in order to retain them ~ Establish Concept will be the Soul of the Community
~ CCHG, Inc. is a green business and social space ~ CCHG is a portfolio of companies: Cocktail Lounge, Commercial Restaurant, Private Meeting Space, Bar Catering, Mini-Business Incubator ~ Grassroots extension of President Obama’s “New Energy for America Plan” The Model
~ Standout company in portfolio is the Cocktail Experience Lounge (recession-resistant) ~ Target demographic is 25-54 YO working professional ~ Revenue from membership fees and Business Incubator absorb 10-25% of overhead expense The Magic
~ Startup capital needed total $3M: Downtown location, equipment, greenovations ~ Funding Contributions: SBA Loans (504, 7a) 55%; Private Equity Investors 35%; Friends, Family, Skin in the Game 10% ~ Average 25% F&B Cost: $986K in sales for 60 days ~ Operating Profit in 90 days viable: soft opening on Black Friday, Grand Opening NYE and Legislative Session commences 45 days after operation begins The Numbers
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