Five Star Dive Bar | Application Preview
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General Information
Business Registration Number: 813223370
Location: Elkhart, IN, United States
Length of Operation: 11plus
Number of Employees: 11-25 Employees
Annual Gross Income: $1M to $10M
Annual Gross Expense: $500k to $1M
Open to Loans: NO
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Funding Usage
Remodel our Historic Theater Real Esate, update Restaurant systems, Hire employees
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Business Plan
We have just hired a new chef, we are implementing new weekly entertainment options. We would use grant funds to complete a dining room remodel and add table service equipment and infrastructure to our outdoor patio. Our business is a very niche business and the only one that offers this type of experience in our entire DMA area of over 500,000 people. Further, our downtown area has approved a new 8,000 seat Amphitheater just 2 block from us to launch in May of 2025. This amphitheater is a public/private partnership with our City. The volume of new residents, consumers, hotels, and downtown attractions puts us in poised position for growth. Over our 10 years in operation we haVe grown by doluble digits year over year and managed to do 1,000,000 in Gross Revenue during Covid while retaining all of our staff. We are now poised to take our business to the next level with the right fine tuning to get ready for the downtown amphitheater project.
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Self Identified Competition
Our top three competitors are: The Galley Sports Pub 5 miles away. This pub/Sportsbar offers a unique outdoor environment during the summer months. They are located within a half of a mile from a popular lake destination. Most of our customers come from this neighborhood and are easily redirected during the summer months. Four Winds Casino South Bend This is a multi Million dollar casino/hotel that books our same local entertainment. They operate in an entirely different sector and revenue category - but attract our patrons away from us with their property amenities and entertainment. Any other downtown Restaurant In our downtown there are many options for family dining. We offer more restaurant seats than any other downtown eatery.... however - we are always marketing to these customers to keep our market share of the downtown dining market. We are the ONLY business in two counties with a weekly entertainment schedule other than the casino. We have been doing this for 10 years and have watched all other entertainment venues close in the surrounding counties. We have now become a destination restaurant attracting consumers from more than 50 miles away.
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Contact Applicant
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