Neroli BizPlan

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Shared Vision, Passion and ExpertiseIn early 2021, a partnership was formed with the shared vision of bringing to San Diego a unique and exciting expression of inspired regional cuisine and elevated hospitality.

With the cuisine of award-winning chef, David Castro-Hussong, the passion and dedication of veteran restaurateurs John Clute and Alison McGrath, and the cross-border community ties brought by cultural ambassador, Fernando Gaxiola, our restaurant will become a destination unparalleled in San Diego.

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“This is the power of gathering: it inspires us to be more hopeful, more joyful, more thoughtful; in a word, more alive.” –Alice Waters

THE CONCEPT

We will create an environment that transports and inspires, while revealing the layers of connection between the cuisines of Baja and Southern California. With an expression of warm, gracious, unpretentious hospitality, we will bridge the gap between casual and fine dining by offering both experiences in one venue. Our courtyard will welcome casual diners to an interactive raw bar experience allowing them to witness the beautiful simplicity that characterizes our regional cuisines and lets the quality of the fresh ingredients shine.

For a more elevated experience, our indoor dining room will showcase our chefs’ talents being offered with service in a classic style.

Along with our dining experiences, an indoor-outdoor bar will provide our guests a lively third option. Garden inspired craft as well as classic cocktails will entice single diners, guests awaiting their table and spirits enthusiasts. Our thoughtfully curated wine program will showcase select old and new world wines as well as wines from the Valle de Guadalupe highlighting our regional focus.

In our beautiful courtyard and rooftop spaces, we also intend to host cross-cultural events that celebrate the generous reciprocity of our two regions and showcase our potential as a rare and desirable private event space.

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THE NAME

Neroli is a pungent and intoxicating essential oil from the blossom of the bitter orange tree. With the aroma of citrus and honey, it evokes the warmth of the sun in exotic locales, the freshness of the orchard and garden, and is said to calm the psyche and soothe the soul. It speaks to the herbaceousness of our cuisine and the restorative powers of time spent being nurtured in our inspiring space.

The name Neroli will be reflected in the design of our space as well. While dining in our airy courtyard surrounded by fragrant blossoming orange trees in whitewashed terracotta pots, the name will subtly resonate through the senses of our guests.

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THE SPACE

A play of abundant natural light and open arches will join an outdoor terrace with an elegant indoor dining room. Families straight-off -the beach will gather for a casual meal on the courtyard while diners seeking a more intimate experience will be welcomed into our cozy dining room. Coronado’s only rooftop dining area will crown the space and offer intimate views of the charming surrounding village.

Airy and light-filled, with organic elements, our guests will be transported and inspired. Elements of fire, stone and wood will come together to create a calming and dynamic feast for the senses.

THE LOCATION

Located in the heart of the charming commercial center of Coronado, California, our restaurant will be ideally positioned to attract guests of the historic Hotel Del Coronado, affluent Coronado residents and locals from both San Diego and Baja. Dubbed The Crown City, Coronado, with its charming village, pristine beaches and quaint boutiques, draws year round visitors from around the globe and is one of the most vibrant communities in San Diego.

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THE MENU

Highlighting the natural abundance of seafood and produce that flourish in the Baja and Southern California regions, Chefs Castro Hussong and Aldaco Sliva will find inspiration from flavors of their childhoods to craft a menu rooted in personal history, but unbound by the weight of traditional cuisines.

THE BAR

Focusing on vibrant flavors that complement our menu, our cocktail program will tell the story of the unique relationship between Baja and San Diego and will express a distinct “sense of place”. The integrity of classic cocktails will be respected while an inventive spirit will infuse our signature libations with the herbal and floral qualities which reflect both our name and our space. Ingredients will be fresh and locally-grown and showcase the careful sourcing of product that defines our cuisine.

Our wine program will represent a wellcurated selection of world wines, including those from the Valle de Guadalupe and local San Diego wineries. Thoughtful wine pairing suggestions will accompany each dish on our menu, and wine flights will offer our guests an opportunity to compare varietals from a myriad of different regions.

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THE FUTURE

Our location in Coronado will be California’s first experience of Chef Castro Hussong’s inspired cuisine and will establish his reputation as an important influence in the culinary scene.

With this flagship, we intend to grow the brand by scaling the casual raw bar concept to multiple smaller locations throughout coastal California and beyond.

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THE PARTNERS

Our team will be comprised of passionate and experienced professionals, each bringing their distinct talents to the project. With the perfect blend of energy, enthusiasm, and creativity, each will contribute to this venture their unique abilities, forming a rare and singular partnership.

With decades of experience in the culinary, hospitality, and building industries, our diverse and talented team brings together passionate career professionals, life-long local residents and friends to join forces with a shared vision of what will become a truly special place for the community.

david castro hussong executive chef

David was born in Ensenada into a multi-generational culinary dynasty,and began his training at the age of 13. As a young man, he studied at the French Culinary Institute ICC in Campbell, CA.. Over the course of his career, he has worked in esteemed restaurants in New York, Copenhagen, Mexico and San Francisco, which include Noma, Blue Hill at Stone Barns and the three-Michelin Starred Eleven Madison Park. He is currently a partner and Executive Chef of three restaurants: LaMari in Mexico City,Fauna and Bruma Wine Garden in Valle de Guadalupe. In 2020 Fauna was listed as one of Latin America’s 50 Best Restaurants as well as being named The Number One Restaurant in Mexico by Culinaria Mexico. He is the co-author of the well regarded Baja California Cookbook.

maribel aldaco silva pastry chef

Maribel Aldaco Silva grew up in Ensenada, where, at age seven, she was introduced to confectionery when her best friend taught her how to make cookies and cakes from scratch. Her formal education began when she attended the UABC School of Oenology and Gastronomy and later studied bakery and viennoiserie at the San Francisco Baking Institute. She continued her training working in notable restaurants in Spain, New York and San Francisco such as the three Michelin-starred Martín Berasategui, Blue Hill at Stone Barns, The Nomad and Quince. She also interned with Jair Téllez at Restaurante del Parque, Laja and, in Mexico City, at Merotoro and Jaso. Later, she was presented with the opportunity to return home to open Fauna Restaurantin Valle de Guadalupe alongside her husband. She is currently Executive Pastry Chef at three restaurants: Fauna and Bruma Wine Garden in Valle de Guadalupe and LaMari in Mexico City.

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John is a lifelong career professional in the hospitality industry and a veteran restaurant owner. His journey in hospitality and customer service began as a young man in his home town of San Diego when he fell in love with the energy of service and the pursuit of excellence on the dining room floor. John quickly rose in the ranks and realized the possibility of an exciting future in restaurants.

John’s decades-long career took him to two of the country’s great restaurant cities, Manhattan and San Francisco, where he held the highest positions in service, from wine director to general manager. Under John’s guidance, two of San Fransisco’s most renowned establishments, Jardiniere and The Fifth Floor, received the highest possible Four Star ratings.

In 2003, John returned to his home town of San Diego to raise a family and pursue his dream of opening a business of his own. The following year, Cafe Chloe opened its doors in downtown’s East Village. Considered one of the most influential restaurants of its time, the intimate neighborhood cafe went on to receive numerous culinary and service awards including a recognition of excellence for John’s finely articulated wine list. Cafe Chloe went on to become one of the city’s most beloved bistros. John and his wife Alison would go on to open two more businesses, the cutting edge event space Oliver & Rose and charming creperie, Minou.

John is a life-long surfer, a devoted student of philosophy and a lover of art, music, literature and design. He is a consummate host and possesses what he calls ‘A Service Heart’.

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alison mcgrath director of hospitality

Over the past 35 years, restaurateur Alison McGrath has enjoyed an incredibly productive and successful career in the hospitality industry.

After starting out as a banquet server in her late teens, she worked on the front lines of service as a hostess, a server and a general manager at celebrated restaurants in San Diego and San Francisco, most notably at Oritalia and Chaya Brasserie in San Francisco.

Upon returning to San Diego in 2003, she helped create the Food and Beverage outlets at the hotly-anticipated W Hotel, where she oversaw everything from the design of uniforms to the hiring and training of staff.

In late 2004, she and her husband John Clute realized their longtime dream of bringing a European-style cafe to San Diego and opened the award-winning French Bistro, Cafe Chloe. Named for their young daughter, it quickly became a local institution and was credited with kick-starting a revolutionary trend of soulful, intimate restaurants in the city.

Alison’s passion for hospitality is embodied by her warmth, graciousness and ability to connect with people. Her talent for cultivating a team with a deep understanding of these values has been instrumental in garnering recognition from her community such as the “Best Service Award” received by Cafe Chloe from San Diego Magazine. She loves to nurture and mentor staff; to help them reach their potential and to pass on the lost art of “Old School” gracious hospitality that includes everyone and makes them feel welcomed, nurtured and embraced. She believes that kind, generous, sincere service is the magic ingredient of a transcendent restaurant experience.

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Born in Sinaloa and raised along the US-Mexico border, Fernando Gaxiola earned an engineering degree from the prestigious Tecnológico de Monterrey and a Global MBA from the Thunderbird School of Global Management in Phoenix, Arizona. A natural born entrepreneur, Fernando launched his first business management consulting firm in 2003 at the age of 26.

He later returned to his roots to apply his knowledge toward promoting the bounty that Baja has to offer. His passion for food, wine, and art led him to found Baja Wine+Food, the leading travel, event, and lifestyle management agency in the San Diego-Northern Baja region. His company specializes in providing extraordinary cross-border experiences to corporate and private clients worldwide. Additionally, he has partnered with Truly Fine Wine to import and distribute a premier portfolio of Baja wines from the most prestigious wineries in Valle de Guadalupe, Baja California,México. As part of his ongoing strategy to promote Baja culture in the US, he also partners with acclaimed regional chefs and artists to create a cross-border culinary movement. In 2017, Fernando began partnering with the Valle Food & Wine Festival, the most important international culinary event in Valle de Guadalupe.

pete josephs contractor and property owner

Born and raised in San Diego, Pete began his career in construction over 35 years ago. The owner of Joseph Construction and FRC consulting, specializing in ground-up, high-end construction projects, he has built out countless properties, including 4 of his own restaurants which are located in Coronado and Lake Tahoe.

Pete is the owner of the C Street property, and has an intimate knowledge of its construction and a unique understanding of the neighborhood. As a long-time Coronado resident and restaurant owner, he brings to the project his many community connections, including fellow business owners and local government officials.

Pete also owns the restaurant adjacent to the property and will contribute to the project as the invaluable combination of partner, contractor, landlord and friendly neighbor.

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fernando gaxiola cultural ambassador

The Architect: Jennifer Luce founder & principal architect, luce et studio architects

Jennifer is a preeminent Architect practicing in California and New York State. She received her Bachelor of Architecture from Carleton University in 1984, is a member of the Alumni Council at the Design School, and is a recipient of the A. Dunton Alumni Award of Distinction. In 1994, Jennifer received her Master of Design Studies from Harvard University and is a member of the Alumni Council and HAA Alumni Board. In 2016, she was elevated to the College of Fellows of the American Institute of Architects. Jennifer has served on a variety of advisory boards for cultural institutions and presently co-chairs the AIA California Monterey Design Conference. In her personal life, Jennifer is a voracious art collector and passionately supports of artists of all mediums.

Luce was elected to the AIA College of Fellows in 2016 for her commitment to design excellence. Her studio, Luce et Studio Architects, a 25-year-old solo practice, is named “Luce et” for its collaborative studio–client design process. The firm has gained prominence for the design of creative work environments such as the award-winning automotive design studios for Nissan Design America in Farmington Hills, Michigan and La Jolla, California. Luce et Studio’s body of work includes museum commissions such as the redesign of the Mingei International Museum in San Diego’s Balboa Park, as well as corporate and residential commissions, site-specific art, public art, landscape installations, and furniture design.

awards and honors

• Guss-Lodl Residence, La Jolla, CA; American Institute of Architects Honor Award, San Diego Chapter, 2015

• Machine in a Box, for Nissan Design America; American Institute of Architects Honor Award, San Diego Chapter, 2013

• Venice Biennale, “Wunderkammer” box, with Tod Williams and Billy Tsien; Venice, Italy, 2012

• Coalesse Showroom, Chicago, IL; American Institute of Architects, Merit Award, San Diego Chapter, 2009

• Lemke House, La Jolla, CA; American Institute of Architects Honor Award, San Diego Chapter, 2007

• George’s California Modern, La Jolla, CA; American Institute of Architects Merit Award, San Diego Chapter, 2007

• Business Week/Architectural Record Award of Excellence for Nissan Design America, Automotive Design Studios: Farmington Hills, MI and La Jolla, CA

• Nissan Design America, La Jolla, CA; Merit Award, American Institute of Architects, California Council, 2006

• Design Vanguard, “Architectural Record” Firm Award, 2005

• Burton House, Cardiff by the Sea, CA; Honor Award, American Institute of Architects, San Diego Chapter, 2005

• Burton Landscape Studio, Gallery and Retail Space, San Diego, CA; Best Commercial Design, American Institute of Architects, San Diego Chapter, 2002

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13 Lunch Dinner Daily 13 hours Weekly 7 days Monthly 4 weeks Yearly 52 weeks Avg Beverage Sales/Person $11 $30 Avg Food Sales/Person $25 $45 Avg Total Sales / Person $36 $75 Total Seats 160 160 Table Turns/Meal Period 1.25 1.75 Total Covers 200 280 480 Total Sales $7,200 $21,000 $28,200 $197,400 $789,600 $10,264,800 SALES PROJECTIONS
14 Mon Tues Wed Thur Fri Sat Sun Operating Hours 11am – 10pm/2 periods 13 13 13 13 13 13 13 FoH: No. Employees 19 19 19 19 19 19 19 FoH: Hourly Pay Rate (Wages) $16.50 $16.50 $16.50 $16.50 $16.50 $16.50 $16.50 FoH: Wages $4,075 $4,075 $4,075 $4,075 $4,075 $4,075 $4,075 BoH: No. Employees 9 9 9 9 9 9 9 BoH: Hourly Pay Rate (Wages) $20 $20 $20 $20 $20 $20 $20 BoH: Wages $2,340 $2,340 $2,340 $2,340 $2,340 $2,340 $2,340 Total Wages $6,415 $6,415 $6,415 $6,415 $6,415 $6,415 $6,415 Payroll Taxes $1,924 $1,924 $1,924 $1,924 $1,924 $1,924 $1,924 Total Hourly Wages $8339 $8339 $8339 $8339 $8339 $8339 $8339 Payroll Expense: Hourly Employee Wages Daily Weekly 7 days Monthly 4 weeks Yearly 52 weeks % Yearly Revenue Hourly Employees $8,339 $58,373 $233,492 $3,035,396 Salaried Employees Manager $95,000 Chef $85,000 Sous $65,000 Director of Operations $85,000 Director of Hospitality $40,000 Salaried Employees Total $370,000 Total $3,405,396 33% Total Payroll Expense PRIME OPERATIONAL COSTS YEAR ONE

Food $6,364,176

$2,155,608

$366,912

$1,539,720

$205,296

$1,718,327

$388,009

$17,001

$615,888

$10,264

$2,732,488

OCCUPANCY

Rent

Sq Ft @ $4.50/Sq

$270,000

$12,000

$3,500

$3,200

$2,000

15 Sales Year 1 Percent of Total Sales COGS Dollars COGS Percent % Yearly Revenue
62%
27% Liquor
21%
18% Beer
4%
5% Wine
15%
40% NA Beverage
2%
5% Total $10,264,800 100%
N/A 26.5% Cost of Goods Sold (Target % based on Industry Best Practices)
COST Yearly % Yearly Revenue
5,000
Ft $22,500/Month
SDG&E
Water
Phone/Internet
Security
Total $291,700 3% Controlled Operating Expenses

TAXES / PROFESSIONAL / FEES / LICENSES / GENERAL ADMINISTRATIVE % Yearly Revenue

State Sales Tax (8%) $821,184 Training/Education $34,000

Merchant Fees (2%) $205,296 Office Supplies/Menus $4,000

Insurance General, Liquor, EPLI $15,000 Decor/Flowers/Candles $6,000

Accounting/Payroll Services $16,000 To Go and Paper Napkins $25,000

Web Hosting/Social Media $1,000 Cleaning Supplies $6,000

License Renewals $1,500 Linen/Uniforms $24,000

Leases $3,000 CO 2 /Nitrogen $500

Bookkeeping/Office Mgr/HR $60,000 Cleaning Services $70,000

Comps/Promotions $25,000 Repair/Maintenance $24,000

Employee Discounts/Staff Meals $85,000 Gardening/Plants $10,000

R&D/Travel/Meals $12,000 Smallwares/Breakage $20,000

Valet Service $9,000 Equipment Rental/Catering $3,000

Marketing $5,000 Pest Control $2,000

Donations $2,400 Hardwood $10,000

Dues/Subscriptions $500 Trash/Recycling $1,500

$2,000

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Gift Cards
Total $1,503,880 15% Controlled Operating Expenses (continued)

$297,000

$67,500

Decor $22,000

$14,500

$6,800

$750

$8,100

$24,000

Subtotal $2,323,600

$107,300

17 CONSTRUCTION $1,882,950 FURNITURE, FIXTURES & EQUIPMENT Kitchen & Bar Equipment Installed
Flooring Construction Dining Room Furniture & Fixtures
Lighting
Bathrooms
Office
POS/Phone/Security/Stereo
Patio & Rooftop
PROFESSIONAL, LEGAL, STAFF Identity/Branding/PR $30,300 Operating Expenses $140,000 Professional Fees/Licensing/Consulting
Subtotal $277,600 Total Opening Cost $2,601,200 Recommended Reserve Operating Capital $100,000 Total Capital Raise $2,701,200 OPENING COSTS Details on following pages

OPENING COSTS: DETAILS

Total Sq Ft Cost / Sq Ft Total Cost

BUILDING 1 1,682 $250 $420,500

BUILDING 2 1,890

Kitchen Area 1,090 $225 $245,250

Bar Area 800 $250 $200,000

PESCA BAR / INTERIOR, EXTERIOR $30,000

ROOFTOP

Roof Deck 1,792 $150 $268,800

Structural (Project Retrofit) 1,792 $150 $268,800 Courtyard (Exterior) 1,664 $150 $249,600

Contingency $200,000

Total $1,882,950

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Construction

Furniture, Fixtures & Equipment

KITCHEN EQUIPMENT

Wood Fired Grill $80,000 Induction Burners (2) $2,000

Hood and Ansul System $30,000 Robocoup $500

Walk-in $15,000 Blender $250

6 Burner Range / Oven $10,000 Cuisinart FP $250

Rational Oven $20,000 Mixer $300

Refrigeration/Freezers $12,000 Slicer $1,500

Refrigerator at Line $10,000 Spice Grinder $50

Line counter/Heat Lamps $2,500 Soup Warmer $100

Fryers $12,000 Smallwares $3,000

Cheese Melter $3,000 Metro Racks $500

Custom Stainless Tables, Shelves ... $5,000 To Go Paper Goods $500

Prep Tables (3) $1,500

Ice Machine (2) Lease Hand Sinks (2) $400

Dump Sinks (2) $300

Prep Sink $600

3-Compartment Sink $650 Dishwasher Lease

Dish Shelving & Racks $1,000

Mop Sink $200 Metro Racks $400

Total $213,550

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BAR EQUIPMENT /

Bar Counter Construction Custom Stainless $7,000

Bar Facade Construction Hand Sink (2) $2,000

Shelving Construction Dump Sink (2) $2,000

Glass Wine Enclosure Construction Stainless Drainboards (2) $1,000

Wine Storage

Back Bar

Refrigeration,

Drop In Ice Bin $500

Glass Washer Lease

Glass Racks/Holders $1,000

Total $27,500

TOTAL

Kitchen Equipment $213,550

Bar Equipment $26,500

Subtotal $240,000

Sales Tax $18,000

Freight $4,000

$35,000

Total

$297,000

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KITCHEN + BAR EQUIPMENT
Delivery + Installation
Kitchen + Bar Equipment Installed
BAR STORAGE
Compressor $3,000
Refrigerator $6,000
Other $5,000
Furniture, Fixtures & Equipment (continued)

DINING ROOM FURNITURE + FIXTURES

BATHROOM (2)

Chairs/Stools (155) $46,500 Furniture $1,000

Tables (42) $21,000 Hand Dryer (2) $2,000 $67,500 Toilet (2) $600 Sink (2) $800

DECOR Mirror (2) $800

Murals $10,000 Grab Bar (2) $200

Art & Objects $5,500 Trash Cans $100

Tile $4,000 Paper Towel Dispensers $100 Curtains & Rods $600 Vent Fans $200

Coat Hooks-Racks $600 Decor $1,000

Plants $500 $6,800

Planters $800 $22,000 OFFICE Computer Own

PATIO + ROOFTOP Desk $200

Heaters (4) $5,000 Chair $150

Planters $12,000 File Cabinet $100

Plants $5,000 Shelving $150 Benches $2,000 Supplies $150 $24,000 $750

LIGHTING

POS/PHONE/SECURITY/STEREO

Hard Set & Track $4,000 POS. $2,000

Pendants $4,500 Phone System $600

Ceiling Fans $2,000 Security System $1,000

Kitchen $2,000 Stereo $4,500 Patio $2,000 $8,100 $14,500

FLOORING (Poured concrete) Dining Room, Bathroom, Kitchen, Patio Construction

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Furniture, Fixtures & Equipment (continued)

Professional,

IDENTITY/BRANDING/PR

PROFESSIONAL FEES/LICENSING/CONSULTING

Graphic Design/Logo $30,000 Architect $60,000

Website Trade Bar Program Consultant $15,000

Business Cards $300 Kitchen Designer $15,000 $30,300 Legal $1,800

LLC $1,000

PRE-OPENING R&D $5,000

Salaries $50,000 Accounting $1,500 Staff Wages $50,000 Building inspection fees/ permits $5,000

Inventory: Food, liquor, wine $50,000 - $30,000 (net 30) $20,000

Beer & Wine (Type 42 plus off sale) $2,000 LL Broker $1,000

Pre-Opening Parties/Events $20,000 $107,300 $170,300

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Legal, Staff

Gross

Gross

Net

$10,264,800

-$7,933,464

-$307,944

$2,023,392

% Yearly Revenue

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Revenue
Operating Costs
77.5% Allowance
3%
Income
19.5% REVENUE / INCOME

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