The key elements of Take Five's restaurant store concept are as follows:
- Sports based themes--The company will focus on themes that have mass appeal.
- Distinctive design features--All stores will be characterized by spectacular visual design and layout. Each store will display a collection of authentic sports memorabilia.
- High profile locations--The company selects its store locations based on key demographic indicators, including traffic counts, average income, number of households, hotels, and offices within a certain radius.
- Celebrity events--The company stores will be distinguished by the promotional activities of sports celebrities and by media coverage of appearances and special events.
- Retail merchandising--Each store will include an integrated retail store offering premium quality merchandise displaying the company's logo design. In addition sports memorabilia will be sold.
- Quality food--Each Take Five store will serve freshly prepared, high quality, popular cuisine that is targeted to appeal to a variety of tastes and budgets with an emphasis on reasonably and moderately priced signature items of particular appeal to a local market.
- Quality service--In order to maintain its unique image the Company provides attentive and friendly service with a high ratio of service personnel to customers and also invests in the training and supervision of its employees.
2.1 Company History
Take Five Sports Bar and Grill was founded in 1995 by Joseph Smith to capitalize on the ever growing market demand for high end technology enhanced sports theme restaurants. Take Five has promoted its brand through the operation of its existing location at Medlock Bridge Road and State Bridge Road in Anytown, Georgia. The flagship location provides a unique dining and entertainment experience in a high-energy environment. Customer acceptance has been proven. Regular and repeat customers cross many age demographics and families are frequent diners.
Take Five has promoted heavily with tie-ins to Anytown professional teams and celebrities. Take Five Sports Bar and Grill is the radio home for the live Monday Night XYZ Anytown Falcons coaches show featuring June Jones and Jeff George. This show is broadcast during the hour preceding the telecast of "Monday Night Football". In addition, Take Five hosts the Anytown Hawks sports talk show on ABC 750 AM featuring guard Steve Smith and the radio voice of the Hawks, Steve Holman. The Anytown Braves celebrated their World Series championship party at Take Five the night they won the Series.
The following table and chart illustrates the rapid sales success of the first Take Five location. The period covered is the initial opening from August through December 1995.
2.2 Company Ownership
Take Five Sports Bar and Grill is a privately held Georgia company. Joseph A. Smith is the principal owner. It is Mr. Smith's intention to offer limited outside ownership in Take Five on an equity, debt, or combination basis in order to facilitate a more rapid expansion of the Take Five concept.
Mr. Smith holds an MBA in Finance from Anytown University. He has held executive level positions in finance with General Electric and Holiday Inn Worldwide. He is previously experienced in the restaurant industry, having opened Smith's Italian Restaurant in 1993, which still operates successfully under his ownership.
2.3 Company Locations and Facilities
The company units will range in size from 6,000 to 9,000 square feet and will seat from 225 to 400 persons. Each Take Five Sports Bar and Grill will feature authentic sports memorabilia such as Michael Jordan's game jersey to Jimmy Connor's signed tennis racquet. Each store will be equipped with state-of-the-art audio and video systems to enable the customer to enjoy the game of their choice. Every restaurant will be built to existing specifications, clean looking, open, and pleasing to the customer.
Unit locations are as follows:
- Medlock Bridge--This unit is located at one of the busiest intersections in North Fulton County. It is surrounded by four major country clubs, upper middle class neighborhoods, office complexes, and shopping. It encompasses 6,000 sq. ft. of space and has been open since August 1995.
- Ashford-Dunwoody--This unit will open in late summer 1996. Size will be 7,200 sq.ft. The location is one and one-half miles north of Perimeter Mall. Within a three mile radius there is 20 million square feet of professional office space. Also, an abundance of upscale apartment complexes adjoins the unit. Major chain hotels are located nearby. Perimeter Mall is one of the regional upscale shopping destinations.
- Lawrenceville (New Market)--This site will occupy 6,500 square feet and is scheduled to open in the Spring of 1997. It will be built as a free standing building on a 2+ acre parcel at the intersection of Rt. 120 and Rt. 316. Adjacent to the property is an 18 screen movie theater opened by AMC in March 1996. This is the largest theater AMC has built in the Anytown area. New Market Mall has as master anchors Target, Home Depot, and Marshalls among others. The demographics are very favorable with no competition from other sports bar restaurants.
- Peachtree and Piedmont (Buckhead)--This unit will be in the heart of Buckhead which is Anytown's most comprehensive business and entertainment center. In addition to retail space being constructed at this sight the unit will be adjacent to a 200+ room America's Suite Hotel. Buckhead is one of the nation's largest and fastest-growing mixed use urban areas. It includes a dynamic combination of concentrated offices, retail, hotel, shopping, restaurant/entertainment, and residential development.
Take Five Sports Bar and Grill also maintains a corporate business office at 1234 Main Street, Anytown, Ga. 30092.