According to Jeremy, "Tom helped us by relaying clear and concise direction with the packaging and preparation of our business plan. His guidance and direction on how to formulate a cash flow analysis, balance sheets and operating projection helped us present a sound business plan that would impress lenders." Apperson helped the Marshalls weave the text and numbers together to come up with an excellent, comprehensive plan. "In fact, we were offered three different loans and consulted Tom about negotiating more favorable rates from the lender we chose," Jeremy says.
The husband-and-wife team chose to establish Aquagrill in New York's trendy SoHo. The artsy neighborhood near New York University is an area rich with shops, eateries and art galleries that has enjoyed a rebirth in recent years. Economically, the area is thriving. Jeremy had worked in SoHo previously and it is close to their home—it was the setting they were looking for to start their restaurant.
The Marshalls split the management responsibilities at Aquagrill. Jeremy is the executive chef, and Jennifer the general manager. Since opening in February 1996, Aquagrill has earned more than 100 rave reviews including a two-star rating in the New York Times, numerous television appearances featuring Chef Marshall, and a two-minute television segment on CNN touting the impact of SCORE's start-up business counseling and mentoring assistance.
In 1997, Aquagrill received favorable reviews in Gourmet magazine. Also in 1997, Restaurant Hospitality magazine honored the Aquagrill with the award for the third best short wine list in America. In 1998, New York Magazine featured Aquagrill on the cover of its 1998 Guide to Dining Out. According to Tom, the Aquagrill has far exceeded the Marshall's expectations.
News Update
There's nothing fishy about this success story. Aquagrill continues to grow, both in popularity and reputation. "We get about four to five reviews a month in local newspapers, industry publications and travel guides," says Jennifer. "We were even featured in a documentary on seafood for Hungarian TV." The restaurant has also earned a number of well-deserved rankings, including the Zagat Guide's Top 30 Manhattan restaurants. "Zagat's rankings are particularly gratifying because they're based on consumer evaluations and comments," Jennifer explains. "They also named us the Best Brunch for 1999 and 2000."
There's more to come. Jennifer and Jeremy, who is also giving cooking classes for Macy's, are working on developing a line of Aquagrill food products. "Our SCORE counselor Tom Apperson is helping us with that idea," Jennifer says. "They're wonderful people to work with."
Brought to you by SCORE "Counselors to America's Small Business."
Ask SCORE
|
