Looking for a business to co-own exciting enough to rise above all the noise in the marketplace? Want to support the Arts in a commercial enterprise? Look no further. This is your opportunity.
Experienced operator of a high-profile Community Gathering Spot and Hub for the Arts is seeking equity investors to open a Wilmington store. Up to three investors for approximately $240,000 each is the founder's preference. A total of $720,000 of cash raised would then secure a $1.6M loan for inventory & equipment. Founder will be investing an additional $300,000 in cash/cash equivalents.
Real estate has been identified at a busy intersection. It will start as a lease and the founder has a RoFR to purchase. With owner approval, the founder plans to execute that by the end of year 3 of operations. The premises is 46,000 SF. The facility is to be upfit in two phases. In phase 1 of the project 24,000 SF will be upfit with phase 2 planned for upfit approximately 18 months after opening. Landlord has agreed to invest $2.5M in upfit for phase 1. They have expressed a willingness to further invest in upfit of phase 2 at a similar level.
We have a detailed business plan that's based on factual results at another location. This will be made available to serious investors for review.
The format will include a book store, cafe selling food, beer and wine, artisan gifts, and a 300-seat concert/event space. Each component has been well-researched and demand carefully supported by real-world results and local market conditions.
First year revenue projection is $8.8M growing to over $10M by year three. Three-year combined EBITDA is projected to be $3.6M.