Proposal for:
New Paltz Caridad
238 MAIN ST, NEW PALTZ, NY 12561
Owner: Elmer Vasquez
646-726-3834
Vasqueze8@hawkmail.newpaltz.edu
5 December 2019
Prepared for
Neil Bettez ,New Paltz Town Supervisor
Executive Summary
After taking a walk in the town of New Paltz, it became obvious to me that there aren’t any black-owned businesses I would like to be the first of many to populate Main Street. My business would be in the food industry, a restaurant called New Paltz Caridad, serving traditional Dominican and Caribbean cuisine. I believe that due to the lack of food options in town, this would be a good business to run. There is an obvious demand, as seen by the way that students describe their experiences with Sodexo and the town food.
I am asking the town board for an initial investment of USD 350,000. I’ve come to this number by calculating the cost of rent and other restaurant expenses that arise before we hit the profit margin.
You all may be wondering:
- Why you should entrust me with this money?
- Is there a need for a Caribbean restaurant?
- What does New Paltz Caridad have to bring to the town?
Well, to answer these questions I would like to bring up the fact that New Paltz is a popular college town known for its restaurants and bars as well as the nature around the area. Being home to a college puts the town in a good place, due to its exposure to all kinds of cultures from around the world. Bringing a restaurant that caters to those very students would only benefit the town. I have family members who are restaurant owners and would be able to manage the establishment while I apprentice under them. I am a marketing major and have experience working in a corporate marketing company. This experience gave me insight into the way that business is conducted.
Proposal
Why New Paltz Caridad
New Paltz is a town with many different restaurants, often referred to as a foodie town. However, despite the abundance of restaurants in New Paltz, there is a lack of diversity in the food options as well as a lack of diversity in the cultures whose food is being represented. Here are the demographics of students at the University of New Paltz:
(College Factual)
As seen in the graphs, 18 percent of students are Latinx. Despite this, the town of New Paltz only has a Mexican restaurant. This is a problem because it excludes all the different cultures that create the Latinx community. The lack of diversity is the town’s way of saying that in their eyes we are all the same.
My goal with the introduction of the restaurant New Paltz Caridad is to unite the students of the Latinx community who feel underrepresented in the New Paltz community. The lack of food that reminds us of home makes it harder to make New Paltz our home. The lack of faces like ours already makes New Paltz a hard community to integrate into, and make it feel like home. With a restaurant such as New Paltz Caridad, I will bring the culture of the Dominican Republic to New Paltz. In hopes of giving the students from the Caribbean a little slice of home. Although the restaurant is meant for the Latinx students, all people are welcome, and this will teach people about Dominican cuisine.
Cost / Expenditures
From the initial $350,000, I will spend $182,000 to rent the space on Main street and build it with the interior design ideas that I have. I calculated that on average each seat will cost $3,046. That number times 60 seats are how I arrived at the number of $182,000. This math is based on the information from Restaurantengine.com. The kitchen appliances and equipment will cost me roughly $10,000 buying them refurbished instead of new. An eQuipped R10 60″ 10 Burner Gas Range w/ (2) Standard Ovens, Convertible goes for $1,929 and the Star 648TF 48″ Gas Griddle w/ Thermostatic Controls – 1″ Steel Plate, Convertible cost $2,127 (Katom). The cost of the rest of the equipment such as freezers and dishwashers etc. is what brings the price up to $10,000. With the remaining $100,000, I will be using $50,000 to hire chefs that are familiar with the style of food that we will be serving. I will also use this money to pay other staff members and to cover the cost of food supplies until we start bringing in profit.
Location
New Paltz Caridad will be located at 238 MAIN ST, NEW PALTZ, NY 12561 is located in the same plaza as the Walgreens. The location is being leased at an asking price of $5,500/month.
(238 Main ST).
(Map of Walgreens Plaza New Paltz, New York
Credentials
I am currently a first-year student declared as a pre-marketing major at the State University of New York at New Paltz. I have experience working at a marketing company, dealing with all the marketing aspects of the business. My vision for the future of New Paltz is one of inclusivity, where people of all backgrounds will feel comfortable living here Aside from this I have a family member who owns a restaurant and would be able to help me learn the restaurant business until I can effectively handle it on my own. Marketing Plan
Being a student at the University of New Paltz, I have direct access to all the different students that attend the university. Much of my marketing plan will be using social media marketing strategies, as well as tabling around campus in the first week as a way to get word of mouth publicity. I will be targeting the 18 percent of students and the 6 percent of faculty that are Latinx on the SUNY New Paltz Campus. Part of the process would be to contact the Latinx Greek organizations on campus to get the word out about my restaurant. They have a strong influence on the campus and would be able to draw in large crowds if they start to eat at my establishment
Through our different social media platforms, I will be posting professional images of the restaurant location, our live band and most importantly our dishes. During an age in which people live their lives through their phones, this is one of the best ways to market. I will be taking advantage of influencers in the New Paltz community and the online food blogger community. Offering 10 percent of sales when people use their referral codes for a discounted meal in our restaurant. This incentive will motivate the influencer to promote my business in hopes of getting a cut of the sales. As well as be a way for new customers to enjoy our food for the first time at a discount.
Conclusion
Mr. Bettez to clear up any uncertainties you may have, I would just like to say that in my time here at New Paltz I have experienced a lot of what the town has to offer. The many different aspects of it have made me realize that a restaurant like New Paltz Caridad is the one thing that’s missing from the town. A recent study has seen an increase in the Latinx population in the Hudson Valley area. “There’s diversity changes happening in the Hudson Valley, so you’ll find the Latino, Hispanic population is growing in the Hudson Valley predominantly in urban areas” (Spectrum). This is great news considering that I want to place a Dominican restaurant in the New Paltz community, this would attract people to the town rather than surrounding Hudson valley towns.
How does this help New Paltz?
- New Culture for the town.New Paltz Caridad is a Dominican restaurant with a live band at night. The Latinx community of students will appreciate the inclusion of their culture in the new Paltz community. They will feel more at home when they are away from their family’s home-cooked meals.
- A new restaurant means more jobs. My restaurant will be able to serve 60 people at a time, meaning there has to be enough employees to keep the restaurant running smoothly. There will be new jobs in all different fields introduced into the community from my business. Ranging from the construction workers who will build the location to the chefs, the waiters, and busboys, the list goes on.
Thank you, for taking the time to hear my proposal, I hope you consider my business. Please contact me at your convivence, I hope we can make New Paltz a wonderful place for all together.
Sincerely, Elmer Vasquez
Work cited
“5 Things Startup Restaurants Typically Overspend On.” Restaurant Engine, 17 Sept. 2019, restaurantengine.com/startup-restaurants-typically-overspend/.
“9 Effective Strategies For Restaurant Marketing.” 99 Dollar Social – Affordable Low Cost Social Media Services For Small Business, www.99dollarsocial.com/9-effective-strategies-for-restaurant-marketing/.
LoopNet.com. “238 Main St, New Paltz, NY, 12561 – Commercial Land For Lease.” LoopNet, www.loopnet.com/Listing/238-Main-St-New-Paltz-NY/15144073/.
“New Report Finds Demographic Shifts in the Hudson Valley.” New Report Finds Demographic Shifts in the Hudson Valley, spectrumlocalnews.com/nys/hudson-valley/news/2019/10/07/report–hudson-valley-sees-slow-population-growth–increase-in-latino-population.
“Search.” College Factual, 13 Sept. 2019, www.collegefactual.com/search/?cx=003938256104927586508%3Aifej5syvsws&%3Bie=UTF-8&sa=Search&cof=FORID%3A10&siteurl=&q=nbew%2Bpalzts.
“Star 648TF 48’ Gas Griddle w/ Thermostatic Controls – 1’ Steel Plate, Convertible.” KaTom Restaurant Supply, Inc., www.katom.com/062-648TF.html.