Upcoming Restobar Raising Funds in Riga, Latvia
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About Business
Location and Concept
A premium restaurant and bar concept is being developed in the heart of Old Riga, Latvia. The property is located in a historic building, adjacent to the Presidential Palace and a well-known church. This prime location experiences high foot traffic from both tourists and locals, making it one of the most commercially attractive zones in the Old Town.
Culinary Experience and Menu
The concept aims to create a warm and culturally rich space offering a fusion menu that includes Latvian, Italian, Spanish, Indo-Chinese, and Mexican cuisines. The venue will also feature an extensive cocktail menu and a wide selection of craft and imported beers. The pricing is designed to be inclusive, with food ranging from €11 to €70 and beverages from €4 to €14.
Operating Strategy
The operational hours are optimized to serve customers throughout the day, including lunch, afternoon café time, dinner, and late-night bar service. Delivery options will be available through local platforms such as Bolt Food and Wolt to capture additional revenue and reach.
Financial Overview
The business model projects monthly revenues of around €40,000, with expected operating profits between €20,800 and €29,800 after expenses. A commercial kitchen is already in place, significantly reducing setup time and initial capital requirements.
Investment Requirement
The investment amount will cover renovation, kitchen and bar equipment, licensing, marketing, initial inventory, and a two-month operational reserve to ensure stability during the early phase.
Investor Support
The promoter is prepared to assist investors with securing the necessary permissions, including support with the presidency permit and visa facilitation if required. This support ensures smoother entry into the Latvian market and compliance with all regulatory requirements.
Vision
The vision is to build a high-impact venue that blends heritage and hospitality, offering long-term profitability and the potential to become a signature destination in Riga’s historic center.
Clientele type
The venue caters to a diverse clientele, including international tourists, cruise passengers, local professionals, and residents. It serves business lunches, casual café-goers, fine dining customers, and nightlife enthusiasts, especially on weekends. The concept is designed to attract steady footfall throughout the day and evening.
Premises
It's a leased premises
Asking Price Includes
The terms of the transaction will be discussed with the potential investors.
Reason
The founder is in the process of launching the restaurant and bar, with the location already finalized. To begin operations, some interior work remains, and the team is currently seeking a suitable investor to support working capital and final setup requirements.
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₹10 to ₹200 Cr
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