The white barn lender proposal

TWO HUNDRED & ELEVEN // STELLA ROAD // STELLA, NORTH CAROLINA

Captivate your audience AT THE CRYSTAL COAST'S ONLY BARN OF ELEGANCE

THE RUSTIC SIDE OF THE COAST Booking Weddings and Events Fall 2018

We are successful creative small e-commerce business owners of 4 years, wishing to take our talents to a higher more fulfilling call in the form of an event barn. Derrick is an aircraft engineer, while Janesa is a marketing coordinator. The two of us are extremely hard workers and have put forth great efforts to bring this to you, our potential lenders in as complete of a project as possible. Please look over some of our research and performance report and don't hesitate to ask us questions!

Thank you so much for your time.

Honor the LORD from your wealth And from the first of all your produce; So your barns will be filled with plenty And your vats will overflow with new wine.

Proverbs 3:9-10

Derrick & Janesa

15 Acres

LAND OH LAND Celebrate your marriage at a secluded barn, then dance the night away with the trees as your audience.

The backdrop to a wedding sets the tone of the event and helps create an atmosphere of class, or whimsy or even rusticity for those honored to attend. The wedding venue is the largest percentage of the wedding budget, averaging 45% of the overall budget where couples are spending roughly $35,329 on their wedding in the US (TheKnot). This has risen drastically from the $28,082 average in 2011 with a $2,688 increase in just 2015 alone (Sardone). The Carolina’s alone are gracing the top of the average at $32,597 per engagement. The most popular wedding theme year over year is a rustic elegance in the form of a barn, farm or industrial warehouse.

The White Barn will be located on 15 acres in the rural area of Stella, North Carolina. This decision fortifies the idea to create an enjoyable experience by providing privacy and a rustic elegance accompanied with customizable space as unique as each event. A bride’s experience at The White Barn is meant to make a lasting impression. To provide her and her guests with a delicious memory that she will cherish along with all the others she will create on her special day.

Stella is the center between Jacksonville, Swansboro and Emerald Isle. Swansboro is home to 11,396 people. But its flanking city of Jacksonville has 67,784 ranked 15th most populated city in North Carolina per the U.S. Census Bureau and is titled one of the “youngest” cities in America averaging 22.4 years of age with majority of them being young marines at Camp Lejeune. The White Barn is targeting couples who are looking for something unique to be the backdrop of their special day that is also affordable. The median household income of Swansboro is $57,358 (Census); the median North Carolina is roughly $47,830, meaning there is little room for splurging when it comes to wedding planning (Department of Numbers).

The White Barn is estimated to cost $105,000 for the build, $172,500 for the finishing, utilities electrical, and contingency fund as well as 200,000 for the acreage. And a 20% down-payment of $95,000. Making a grand total of $381,880 and a Monthly Mortgage with insurance of $2,770 with a 20 year fixed rate of 5% and a down payment of $80,000. The potential to get the land, currently listed at $145,000 to our favorable $115,000 is strong, as this was planned to be a modular home development that never came to fruition in 2013, has been sitting, and is now a part of a 30 acre "for sale by owner" tract.

THE WHITE BARN IS EXPECTED TO MAKE

$9,000-$13,500 A MONTH

LET'S TALK NUMBERS

IN THE FIRST FISCAL A YEAR

The White Barn is predicted to Gross $12,000 a month in the first year.

We will personally be putting $20,000 down and $1200 a month in mortgage as well as all other business expenses

1

SATURDAY EVENT Will cost $4,500 with minimal involvement of The White Barn staff in year 1

2 PROFITS

With a conservative number, The White Barn is expected to gross $9,000 a month in it's first year with expected growth of $13,500 in the later opening months.

3 OPPORTUNITY

We have the opportunity to host many more events including family reunions, baby showers, graduation parties and many more! We will not have a full kitchen, so our bustling food truck community will be a vital resource as well as restaurants like The Flame, who have a portable kitchen.

Expanding to a full service venue to include catering is a goal for our future, but an unessecary investment at this point

4

GURANTEE Our most direct competitor is a barn in New Bern that is a bare bones barn. They are booked for: October 14. 20. 27 July 1. 7 November 4. 11. 25 August 5 March 3. 23 November 23 April 7 December 1 May 4. 18. 26

5 URGENCY

The first wedding shows of the year are right around the corner beginning in February. Knowing that brides book their venues upwards to a year in advance our presence and an actual standing facility by this time is crucial for year one

Carolina Wedding Barn- A Direct Competitor in New Bern Booked Dates as of October 2017 Priced at $3500 an event

OPERATION COSTS

The average monthly cost to operate including the mortgage and a part time paid staff of set up crew working 30 hours a week is $2400

1

POTENTIAL

Booking 3 Saturdays and 2 off peak days a month would bring in $21,500

2 ACREAGE

In addition to the 15 acres we plan to purchase for the barn there is still 20 acres at purchasing disposal should we want to expand

3 GROWTH

Hosting Tasting Clubs for White Barn Dinner Club with host chefs Dinner in White Annual event Cookies and Cocoa by the fire Food Truck Derby once a month Yoga Studio during the week Expand property to include a separate ceremony space and full kitchen Possibly purchase more acreage if available

4

THE COOKIE The White Barn chocolate chip cookies will also be a great expandable marketing tool.

The cookies can be canned and sold by the tin to clients and people of the Carteret County community. Tins of cookies will be a popular treat around the holidays, special occasions, and even as wedding favors.

5 BRIDAL COTTAGE

In the far future An on site Bridal Cottage will be available to rent for the weekend of the event

6 PAPER & WOOD

Graphic Design Paper Goods Line available to have printed. Including Invitations, signage, programs, table numbers and thank yous.

As well as custom made Farm Tables and household fixtures.

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