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Joes presentation new design

  1. 1. Florida Restaurant Franchise Group Group V, LP
  2. 2. • The Palm Beach Regional Center presents an opportunity to consider investment in a variety of different projects. • These projects are carefully reviewed and selected upon the basis of their ability to meet stringent criteria while meeting EB-5 standards in creating jobs. • PBRC’s Managing Members, Alfred Zucaro and Louis Haddad, have extensive experience in Immigration and Nationality law and in the public and private sectors. Palm Beach Regional Center
  3. 3. Background of The Palm Beach Regional Center PBRC is approved by USCIS to operate in the Miami Metro Area, which is the largest and most popular area of the State of Florida consisting of the Miami- Dade, Broward and Palm Beach counties. • With a population of 5,564,635 inhabitants per the 2010 Census, • the Miami metropolitan area is the most populous in Florida and in the Southeastern United States[9] • and the eighth-most populous in the United States. • It is part of the South Florida region and is partially synonymous with the Gold Coast. Its target economic industry clusters includes: • Restaurants • Solar Panel Manufacturing • Office Buildings • Hotels • Film & Television Production • Renewable Energy Technologies • Health Care Facilities
  4. 4. Sonic Restaurants • Established 1955 • More than 3,400 locations • 4 Phases in EB-5 • Raised USD$12,000,000 • 100% I-526 approval for Phases 1-3 VooDoo BBQ & Grill Restaurants • Established 2002 • More than 52 locations • 3 Phases in EB-5 • Raised USD$15,000,000 • 100% approvals on submitted I-526 • Phase 2 recently released
  5. 5. The EB-5 Visa Program The Fastest way to Immigrate to the United States
  6. 6. Why do so many people want to emigrate to the U.S.A.? • Access to the world’s best universities, medical care, and social program at the same cost paid by U.S. citizens • Lower cost of living compared to many other countries • Freedom to establish your own business
  7. 7. World University Rankings 2010 7 of the top 11 Universities in the world are located in the United States 1. Harvard University (USA) 2. University of Cambridge (UK) 3. Yale University (USA) 4. University College London (UK) 5. Princeton University (USA) 6. Imperial College London (UK) 7. University of Oxford (UK) 8. University of Chicago (USA) 9. Massachusetts Institute of Tech (USA) 10. California Institute of Tech(USA) 11. Stanford University (USA)
  8. 8. What is the EB-5 Visa Program? The fifth employment based visa preference category (EB-5), created by Congress in 1990, is available to immigrants seeking to obtain their permanent US residency by investing in a new commercial enterprise that will benefit the US economy and create at least 10 full-time jobs. •Type of Employment Based Visa •10,000 EB-5 Green Cards available per year •3,000 Green Cards are set aside for the Regional Center Program •Green Cards (“conditional”) are issued in months rather than years. Permanent Green Card is issued 2 years after approval of Investor’s petition. •$1 million dollar investment unless the business is located in a specially designated high employment area or rural area called a Targeted Employment Area (“TEA”) and then the investment is $500,000 •Investment is fully at risk
  9. 9. Selection Criteria for the EB-5 Visa Program/Requirements 1. Minimum required Investment is $1,000,000* or $500,000 if located in a TEA 2. The investment must create 10 full-time direct jobs 3. The applicant must prove lawful source of investment funds 4. 6-18 months* to obtain a conditional visa, 2 years later apply to remove the condition for permanent residency 5. Permanent Visa; no time restrictions; no education requirements, not required to speak English.
  10. 10. USCIS Statistics on I-526 and I-829 approvals U.S. Citizenship and Immigration Services Immigrant Petition by Alien Entrepreneur (I-526) and Petition by Entrepreneur to Remove Conditions (I-829) Fiscal Year(s): 2005-2012 (Third Quarter) Fiscal Year I-526 I-829 Receip ts Approval s Denial s Approv al % Receipt s Approval s Denial s Approv al % 2005 332 179 156 53% 37 184 112 62% 2006 486 336 124 73% 89 106 108 50% 2007 776 473 148 76% 194 111 49 69% 2008 1,257 640 120 84% 390 159 68 70% 2009 1,028 1,262 207 86% 437 347 56 86% 2010 1,955 1,369 165 89% 768 274 56 83% 2011 3,805 1,563 371 81% 2,345 1,067 46 96% 2012 4,156 3,002 775 79% 546 639 42 94% Grand Total 13,795 8,824 2,066 81% 4,806 2,887 537 84% Data: Based on June Preliminary 2012 Data
  11. 11. Project I-526 Approvals
  12. 12. Upcoming EB-5 quota for Chinese Nationals • Not currently in effect • Expected to be adopted some time during FY 2013 • When implemented, will negatively impact the total time of EB-5 petitions, especially for Chinese Nationals
  13. 13. Florida Restaurant Franchise Group 5 -Background
  14. 14. VooDoo BBQ & Grill Overview • VooDoo BBQ & Grill opened its first store on St. Charles Avenue in New Orleans in 2002 • There are currently a total of 54 (combined) active and licensed locations • Experienced and successful development and operations team with over 10 years of success in various national franchise operations and proven track record of success.
  15. 15. VooDoo BBQ & Grill 54 active and licensed locations Louisiana – 14 stores Texas – 5 stores Mississippi - 1 store South Carolina – 7 stores North Carolina – 1 store Florida – 26 stores (1 currently open) Future expansion of store locations scheduled in Georgia, Alabama, Washington D.C., Virginia, Nebraska and Maryland in 2012-2013.
  16. 16. VooDoo BBQ & Grill – New Florida Stores All Located in a TEA Pembroke Pines ​151 N Hiatus Rd. Pembroke Pines, FL VooDoo BBQ Kendall ​8268 Mills Dr. Kendall, FL VooDoo BBQ & Grill ​3201 N. Miami Ave. Miami, FL.
  17. 17. VooDoo BBQ & Grill – New Florida Stores All Located in a TEA Ft. Lauderdale 6300 Andrews Ave Ft. Lauderdale, FL Delray Beach 640 E. Atlantic Ave Delray, FL Las Olas 901 Las Olas Blvd. Ft. Lauderdale, FL.
  18. 18. VooDoo BBQ & Grill – New Florida Stores All Located in a TEA Palm Beach 1951 N. Military Trail W. Palm Beach, FL. Miami 11327 S. Dixie Hwy Miami, FL.
  19. 19. Jack Flechner – President of BBQ Boyz, LLC The President and Director of Operations, Jack Flechner, is an attorney who graduated from the University of Maryland, School of Law in 1998 and from the Smith School of Business at the University of Maryland, College Park in 1994 with a BS in Marketing. He has been a successful operator of many varied businesses in the mortgage, title and real estate fields, and oversaw the growth and operations of his real estate businesses to include operations in over ten states, with more than 15 offices and annual revenue of over $50,000,000. Most recently Mr. Flechner developed and operated the fast food concept of Five Guys Burgers and Fries in the greater Miami area. Five Guys Burger & Fries has been one of the fastest growing restaurant chains in the United States over the last ten years, and currently has approximately 900 stores in the United States and Canada. Mr. Flechner’s Five Guys Burger restaurants were consistently recognized as some of the highest grossing and best run locations in the entire system. Many Five Guys corporate people as well as other franchisees frequently visited his stores to learn how to run successful high-grossing stores in a challenging environment. In fact, his store located in Miami Beach, Florida was in the top 5 highest-grossing stores in the country. Recently, Mr. Flechner sold his interest in the Five Guys franchise so he could devote his full time and attention to the development of VooDoo restaurants in the State of Florida. Tony Avila – Chief Executive Officer, VooDoo BBQ & Grill Antonio Avila has served as Chief Executive Officer of VooDoo BBQ Franchising, LLC since its inception. After getting his CPA from Louisiana State University Mr. Avila served as Supervising Senior Tax Specialist for KPMG, LLC in Baton Rouge, Louisiana from August 1997 to April 2002. He then served as chief Financial Officer of VooDoo BBQ, LLC in New Orleans, Louisiana until January 2004. Mr. Avila then served for two years as Chief Operating Officer of Delta Administrative Services, LLC in Metairie, Louisiana; and in 2004 he became Chief Executive Officer of VOODOO BBQ & GRILL LLC d/b/a VooDoo BBQ & Grill in Baton Rouge, Louisiana. Since Mr. Avila became CEO in 2004, he has overseen the growth of VooDoo from just two locations to more than 53 locations currently operating or under development throughout Louisiana, South Carolina, North Carolina, Florida, and Texas, with additional locations to be developed in Washington D.C., Virginia and Maryland in 2012-2013. Background VooDoo BBQ & Grill Restaurants
  20. 20. Project Introduction
  21. 21. Main Advantage to EB-5 Investor – The Project
  22. 22. Project Offering CurrentProjectValuation $39,000,000USD TotalEB-5Capital $30,000,000USD DeveloperContribution $9,000,000USD EB-5InvestmentRequirement $500,000USD(StateverifiedTEA) RegionalCenterAdministrativeFee $55,000USD(includingI-526 immigrationpaperwork) NumberofEB5Investors 60(10perphase) TotalJobsRequired 600TotalJobs TotalJobsCreated 1,050(verifiedbyanotedeconomist) AnnualInterestRate PaidtoEB-5Investors 2%(peryeardistributedevery6 months) EB-5 Capital Developer Contribution
  23. 23.  About the Regional Center : The Palm Beach Regional Center (“PBRC” ) has been fully approved as an EB-5 Regional Center, and was federally designated by the United States Citizens & Immigration Service (“USCIS”) in September 2008. The Palm Beach Regional Center has a current track record of 100% success rate on all previous EB-5 I-526 applications and has successfully offered four (4) previous Restaurant offerings.  About the Business: The VooDoo BBQ franchise has been nationally recognized with multiple food awards and is poised to become one of the largest national BBQ Restaurant franchises in the United States with fifty four (54) operating and licensed locations and development sites in Louisiana, Texas, Mississippi, North Carolina, South Carolina, and Florida with additional plans to expand into Georgia, Alabama and Washington, D.C. Investment Summary
  24. 24.  About the Borrower: These twenty four (24) Voodoo BBQ & Grill Restaurants will be owned and operated by the BBQ Boyz, LLC development group which currently holds the exclusive development rights of current and future Voodoo BBQ Restaurants in the State of Florida. The BBQ Boyz is a team of experienced and successful Restaurant Operators who have successfully owned and operated multiple national fast food franchise locations in the South Florida markets with more than $18,000,000 in annual sales.  Escrow of Funds: All investment funds and the Administrative Fee are held in a third party escrow account and are fully refundable if the I-526 petition is denied by USCIS.  Collateral for EB-5 investors: In the current offerings, an undefined total of 20 (twenty) to 24(twenty- four) restaurant locations that are being partially funded through EB-5 participation are free and clear of any mortgages or debt. The business, operations, inventory and all furniture, fixtures and equipment (FF&E) are owned by the operators. The EB-5 Participants are provided a fully executed mortgage or lien on all assets of the business which entitles them to full security through all cash flow and assets of the business. Investment Summary
  25. 25. Operational Summary The VooDoo BBQ & Grill project will be administered through the Palm Beach Regional Center (“PBRC”) – a USCIS approved and federally designated Regional Center, which was approved in September 2008 and has a geographic territory which includes Palm Beach, Broward Miami-Dade, Martin, St. Lucie, Indian River, Okeechobee and Hendry Counties, Florida, USA. Investment into LP Loan from LP to LLC Operated by Franchisee
  26. 26. Restaurant Sales Growth Type of Restaurant • Casual Dining • Chili’s, Olive Garden, Red Lobster • Fast Casual • Panera, Chipotle, Lime, VooDoo BBQ & Grill • Quick Service / Fast Food • McDonalds 2008 - 2012 Growth 157,591 159,010 162,985 168,527 173,751 145,000 150,000 155,000 160,000 165,000 170,000 175,000 2008 2009 2010 2011 2012 US$Million Fast-Casual Fast-Casual National Restaurant Assoc.
  27. 27. Florida Tourism  Facts:  International visitors (4%) spend more per traveler than U.S.domestic travelers, representing  19 % of total travel-related spending and 17% of all food and beverage spending. VISIT FLORIDA Research 82.3 87.3 90.5 78 80 82 84 86 88 90 92 2010 2011 2012 Visitors(Millions) Visitors per Year
  28. 28. U.S. Restaurant Sales Growth (by State) Top 8 States • North Dakota • Texas • Florida • Wyoming • Maryland • South Carolina • Utah • Alaska Growth • 4.1% • 4.1% • 3.9% • 3.7% • 3.7% • 3.6% • 3.6% • 3.5%
  29. 29. About our Location Florida Restaurant Franchise Group will be developing from 20 to 24 stores in the largest economic centers of Florida, with locations in areas such as Miami, Broward and Palm Beach counties. Florida is known for its strong tourism and trade industries, Florida attractions such as Disney World, Universal Studios, South Beach, West Palm Beach and Miami, are among the most sought-after locations for both international and domestic travelers. Florida is the 4th most populous of the 50 states in the United States of America. Florida is the 4th largest economy in the United States, with a GDP of 748 billion in 2010, and as of 2010, Florida became the 4th largest exporter of trade goods. Aside from its great weather and extensive coastline, the State of Florida attracts wealthy individuals as it is one of the seven states that do not impose state taxes. The state capital is Tallahassee, its largest city is Jacksonville, and the Miami metropolitan area is the largest metropolitan area in the southeastern United States.
  30. 30. About our Location VooDoo BBQ & Grill will be developing restaurant locations in the four major metropolitan areas of Florida - Miami/Ft. Lauderdale, Orlando, Tampa & Jacksonville. Due to its tremendous tourism, many people from Europe and South America come to Florida simply to shop for several days and then go back to their native country. Obviously eating goes hand in hand with such shopping excursions. Also young adults favor attending one of the many reputable colleges and universities in the state and most of them are located in the major metro areas, increasing our potential to attract young crowds. Within the last decade, there has been tremendous growth and building of new and attractive retail centers. Due to the general economic hard times, VooDoo BBQ & Grill was able to secure tremendous A+ locations and enter into long term leases, not feasible a few years ago.
  31. 31. Recent Press for our Stores
  32. 32. Recent Press
  33. 33. Recent Press
  34. 34. For more information on the EB-5 Program or this investment opportunity please email at: or call 954-218-5517.