Opening a 2nd location – Pop Shop, Medford NJ
This client has had a successful first location for over a decade and wants to grow the brand and business by opening a second location. Hoping to franchise in the future, the partners were advised to have multiple successful operations.
The client’s personal resources are limited, so they need to have an investor and/or partner. Banks are not yet ready to finance a second location.
Harris and the partners created a beginning 2 step plan:
Step 1. Find a location that is affordable for the sales and operating expenses.
Step 2. Find an investor who believes in the concept and the chosen location and is willing to risk money for a healthy return.
After getting the financing, investor, and location, the next steps included: retaining an architect, kitchen designer, interior designer, expediter, contractor, and all the other professionals needed to get approvals for the property, the actual building of the new restaurant, and then opening the restaurant.
The next phase of work included the many aspects of planning for opening and operating the restaurant, budgeting and implementing opening expenses, hiring and training management, training staff, personnel rules, systems organizations, bookkeeping, menu development, construction oversight and coordination, marketing strategies and implementation, website development, vendor development, purchasing and production, etc., etc..
The doors opened in 2015, and today this is a very busy, profitable second location.