reeves walker house
DESCRIPTION
Presentation about a new business venture in Fort Worth that transforms a beautiful historic property into a turnkey event facility.TRANSCRIPT
REEVES-WALKER HOUSE
Where Old meets New at a very special event venue
THE PROPERTY
THE PROPERTY
LOCATION
v Less than three miles from
downtown
v Trendy Fairmount Historic
Neighborhood
v On main thoroughfare so as not
to intrude upon neighbors
2200 HEMPHILL ST
v Built in 1908. Turned commercial in 1967.
v Historic Landmark (state and national)
v 9,000 square feet
v 1.2 acres of land with parking, house and carriage house
v 3rd floor ballroom
v New roof, renovated HVAC, new parking lot, meticulously maintained
THE MARKET
v 49,500 marriage licenses issued in 2011
v 300 venues in D/FW
v Census data shows 750,000 potential brides in D/FW
v Authentic, Vintage, Exclusive, Customized, Full-Service Venues
v Corporate, non-profit, and other social event capabilities
THE DIFFERENCE
v Turnkey service • Subcontract catering, rentals, valet, and more • Dedicated event planner for your event • “Five Star” treatment with a casual, “at home” approach
v Inclusion of tables, chairs, and basic linens with use of ballroom
v Inclusion of tent for outdoor receptions (built into price)
v Ability to customize and “bend the rules” for each event
ON SITE CEREMONIES
SPEND THE DAY
THE TEAM
v Angela Dupont, ABC, CPCE • 13 + years experience • Events from 2 to 250,000 • Leadership and Involvement in Industry • Investment in education • Extensive feasibility research • Garnered support in city, neighborhood, and
industry • Majority LLC member owner – 80%
THE TEAM
v Sarabeth Quattlebaum, CWP • 8+ years experience • Degree in entrepreneurship • Advertising/Marketing in wedding industry • Leadership in local associations • Family that can assist with operations • Access to capital • Minority LLC member owner – 20%
THE NUMBERS
-50000
0
50000
100000
150000
200000
250000
300000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
Revenues
Income Capital Investments & Improvements
Weddings!
Too Hot
Weddings, holiday & corporate
New Kitchen
Weddings & more!
Recovering Costs & Profit Increases
Improvements
$
Months
THE NUMBERS
Projections Y1 Y2 Y3
Annual Gross Income $192,500.00 $1,251,250.00 $2,502,500.00 Annual Operating (Wages & Capital) $48,080.50 $190,636.25 $178,717.75
Annual Expenses $225,839.04 $1,175,900.77 $2,110,896.64
Annual Pre-Tax -$33,339.04 $75,349.23 $391,603.36
Annual Income Tax $240.38 $14,841.90 $79,659.22
Annual Net -$33,579.42 $60,507.33 $311,944.14
THE INVESTMENT
v Asking price after renovations = $1,850,000 • (was $1,300,000)
v Estimate actual sales price of $1,600,000
v Community Bank / SBA loan requires 20% down and personal
guarantee from investor = $320,000
v Equity ownership in property
REEVES-WALKER HOUSE
Thank You!