Summary

The Choo is a restaurant located at 3045 Southern Avenue in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. Sales no longer support staffing levels.-Costs of Goods Sold have in some cases doubled.-The most profitable day (Sunday) has completely dropped off due to area churches inability to convene.-Closed entirely for two weeks in April.
Stabilization and Recovery Plan:
• New suppliers are being identified in order to lower food costs
• Staff has been reduced to family and one part-time employee
• Reopened, trying to increase curbside take-out business
NEED Grant funds will supplement fixed costs of approximately $900 per month excluding payroll, food and supplies, and mitigate expected losses of $600 to $1,000 per month until regular levels of business return.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

5/8/2020

The Choo

3045 Southern Avenue, Memphis, TN 38111