One Step Closer

We met with the property manager and also the owner of the space we hope to grab. The meeting was very productive and I think we worked out the size of the space back to 1200 square feet instead of the 935 that was on our lease. We now have about a week and a half to rewrite this lease as a proposal with what we want and need in this lease and see what they say. This means that we have to get cost estimates completed by then as well. We need to really figure out what it will cost us to get opened and also when we will break even with revenues and expenses. (it looks like about month 6 of being opened) We are hoping to get detailed estimates in the follow areas... 1. Build-Out (bathroom, floors, cabinets, painting, bar, etc) 2. Interior Design (lighting, decorations, etc) 3. Sound System (for the stage, background music) 4. G&A (fax, POS, computer, etc) 5. Equipment 6. Front of House (cups, plates, etc) 7. Marketing 8. Legal (paperwork) We really need to figure out how much it will take just to open. This is going to be a key aspect of how we write our proposed lease and we need to have the planned backing for this lease. I am meeting with the banker the first week in August but we will have to see where the money will come from for opening. The process will take several weeks once I meet with the banker and we are inside that time already on getting something signed. Our new hopefully open date....January of 2006!! Buckle up for the next week and a half! ~~be bold