Vansauwa's Tacos and Vegan Eats | Application Preview
The grant application from Vansauwa's Tacos and Vegan Eats outlines the company's plans to secure funding for property acquisition and redevelopment to expand their business. They aim to transform a shipping container into a taco shack and improve the landscape for outdoor seating, adhering to COVID-19 guidelines. Located at 517 E 7th Street in Hopkinsville, Kentucky, the business will invest $70,000 in total—$50,000 for the property and $20,000 for remodeling—creating a customer-friendly environment.
The application highlights the local market's median household income and the growth of the job market in Hopkinsville, indicating a positive economic environment for their venture. The restaurant intends to fill a gap in the market by offering vegan options in an underserved area, with minimal direct competitors located over two miles away.
Vansauwa's Tacos and Vegan Eats presents opportunities for franchise development, community involvement, and economic resilience, especially in light of the ongoing pandemic. The business is uniquely positioned to succeed by catering to a sizable vegan community lacking local dining options and leveraging its existing brand recognition and quality offerings.
The company believes it has a competitive edge due to its specialized menu, community ties, and innovative management. With a focus on Caribbean-inspired cuisine and a commitment to customer engagement and community development, Vansauwa’s strives to not only thrive as a business but also serve as a role model for black ownership and contribute positively to the local economy.
-
General Information
Business Registration Number: 83-1693156
Location: Hopkinsville, KY, United States
Length of Operation: 3
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
-
Funding Usage
Funds will be used to purchase property and redevelopment land for business expansion. Currently working with developers on brick and mortar rendering to better illustrate what it is we're trying to build. Repurpose shipping container and converted into taco shack. Redevelop landscape for outside seating area to better fit with government guidelines of covid Purchase privacy fencing to border off customer bar patio area. Purchase equipment and furniture needed to serve and seat customers on patio. Vansauwa’s Island taco shack will be located at 517 E 7th street Hopkinsville, Kentucky 42240. The Company plans to acquire premises for a price of $50,000 and invest an additional $20,000 in remodeling - turning the existing building into customer friendly taco shack. The restaurant will be located in an underserved area, with a large community interested in vegan food options. The absence of direct competitors, and the Company’s prime location will provide Vansauwa’s Tacos & Vegan Eats d b.a Vansauwa's Island with a substantial competitive advantage over other industry establishments. Additionally, the Company’s involvement in the local community has increased brand awareness and made Vansauwa’s Tacos & Vegan Eats part of the community ensuring large number of potential customers in the future.
-
Business Plan
According to Sperling’s Best Places, Hopkinsville has a population of 31,741 with a median age of 35.2 years. Median household income is $34,670 and the median home price is $114,800. The average income of a Hopkinsville resident is $20,688 a year. Hopkinsville has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 29.2%.According to restaurant.org, restaurants are a driving force in Kentucky’s economy. They provide jobs and build careers for thousands of people, and play a vital role in local communities throughout the state. According to the same source there were 7,654 eating and drinking place locations in Kentucky in 2018, and they provided employment for 203,000. By 2029, that number is projected to grow by 10.9%, adding 22,200 additional jobs, for a total of 225,200 job positions. Additionally, every dollar spent in the restaurant segment contributes $1.69 to the state economy.According to SizeUp, companies operating in a Fast Food Restaurant Industry make an annual average revenue of $904,631, which is just below the annual average of $907,727 in Christian County and an annual average of $914,052 in Clarksville Metropolitan Area. The annual average revenue in state of Kentucky is $914,384, which is just below the national average of $949,436. Opportunities Franchise Opportunity - Due to its simple concept and business structure, Vansauwa’s Island can easily be turned into a successful franchise, offering black youth a possibility to acquire a strong work ethic and ownership principles, through a successful and well-established brand. Development Opportunity – The Company will operate in an area that is lacking infrastructure and revitalization, and improvements in the business environment and other forms of community development are welcomed and supported, which will further reinforce the Company’s market position. Further Community Involvement – The Company will be the representation of young black ownership in a city that is lacking that success, inspiring change in the community and further developing the area, reducing unemployment, and improving overall quality of life. Potential Economic Downturn – The global economy is facing uncertainty due to the worldwide COVID19 pandemic, however, the Company’s premises allow for all distancing regulations to be applied, and will be able to comply with any requests resulting from the crisis - ensuring success, even in volatile market conditions. The Company will be able to leverage its outside sitting space (with possibility to expand) as well as pre order and delivery options to mitigate risks caused by COVID19. Vansauwa’s Tacos & Vegan Eats plans to control its deliver operations fully in the beginning. The Company is well equipped to adapt its operations to any new regulations using the benefits of its location and its well-developed strategy.
-
Self Identified Competition
The Company will not encounter strong competition in Hopkinsville for the products it will offer. The Company has conducted extensive market research and identified the most important direct competitors in its area. Vansauwa’s Island will face only two competitors in the vicinity. These companies are located over two miles away from the Company, which will allow Vansauwa’s Island to take the significant part of the market. The Company’s main competitors will be Tacos El Pappi and El Bracero.The Company will not encounter strong competition in Hopkinsville for the products it will offer. The Company has conducted extensive market research and identified the most important direct competitors in its area. Vansauwa’s Island will face only two competitors in the vicinity. These companies are located over two miles away from the Company, which will allow Vansauwa’s Island to take the significant part of the market. The Company’s main competitors will be Tacos El Pappi and El Bracero. Tacos El Pappi – Tacos El Pappi is located at 2819 Fort Campbell Blvd Hopkinsville, KY. The company operates as Authentic Mexican Food Restaurant, offering tacos and other related items at competitive prices.El Bracero - El Bracero is located at 200 Richard Mills Dr Hopkinsville, KY. The company operates as Family Style Restaurant, providing customers with a unique and pleasurable dining experience and traditional flavors. Strengths Large vegan community – The Company will operate in an area with an underserved, large vegan community, whose members are forced to eat at home or travel large distances to find vegan menu options. By being the only restaurant offering vegan menu options, the Company will be able to gain a significant share of the local market. Brand Recognition – As the Company has already been in business for a specific amount of time, its owners were able to build a recognizable brand with values involving high-quality, products, exceptional customer service, and unique flavors. Superior Quality – Vansauwa’s Island offers exceptional food products, created by using only high-quality, fresh ingredients, to deliver an outstanding eating experience. The Company provides unique flavor profiles that can only be purchased from Vansauwa’s Island, which results in a large number of return customers. Differentiation – The nature of the Company’s offer, such as mixing Caribbean taste with more traditional recipes and vegan menu options, will help the Company target multiple niche markets, further expanding the potential market and the number of customers. Young, Forward-thinking, Devoted Owners – The Company is managed by young, forward-thinking and devoted owners, who are ready to implement new, unique flavors, recipes and techniques, and expand the business over the years. Their ideas and customer oriented approach will allow the Company to connect with its customers on a more personal level, ensuring success, and making Vansauwa’s Island part of the community. Their full commitment to this business and youthful spirit will help them contribute to the overall industry as well by bringing differentiation and innovation to the market. Community Involvement – Both the Company and the owners are involved with the local community, which further expands Vansauwa’s Island brand awareness and helps connect the business with its potential customers. The Company is becoming an example of ownership for black people, helps develop the area, and contributes to the beautification of the city. The community involvement will also help employees within the Company. Integration into the community boosts employee morale and helps create a positive working atmosphere. Caribbean Inspired Food - Ethnic food options from different parts of the world are becoming increasingly popular owing to factors such ease and affordability of international travel, rise in global trade, and increasing rates of immigration. The growing popularity of ethnic food options, such as Caribbean food will drive the demand for the Company’s products in the following years.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
