Restaurant Feasibility Study in the Greenville-Anderson-Greer, SC Metro Area

Greenville: restaurants above parity, tickets above the median

Greenville-Anderson-Greer lends to full-service restaurants a little more often than the country does, with a location quotient of 1.17x, and a little more heavily, with a median of $311,000 that is 1.13x the class's national median. Restaurants come first in the Greenville mix (1 of 39), and the area is 57 of 821 for them nationally. SBA approved 93 loans between FY2017 and FY2026, worth $57.4 million, and half of them lie between $150,000 and $800,000.

Greenville and Pickens

Greenville County has 67 loans and Pickens County 13. SBA 7(a) accounts for 86 loans and SBA 504 for 7, and franchised restaurants are 15.1%. Yearly counts are printed from FY2017 through FY2024, from 5 loans in FY2017 to 13 in FY2019 and 10 in FY2024; the counts for FY2025 and FY2026 are withheld for lack of loans, which does not mean none were approved.

The holders

TD Bank, National Association holds 20 loans worth $4.3 million, well ahead of Countybank with 7 loans and $2.4 million, Bank of Travelers Rest with 6 loans and $945,100, Pinnacle Bank (TN) with 5 loans and $4.6 million and United Community Bank (SC) with 5 loans and $4.0 million. Pinnacle and United Community show larger tickets than TD Bank does. SBA's holder of record may differ from the originator, and these figures are no verdict on any bank.

Losses

A cancellation floor of 13.2% for the FY2017 to FY2024 approval years is the one loss figure on offer. The undisbursed-inclusive ceiling and the charge-off rate are not supplied, they are not zero, and the page makes no estimate.

Testing a Greenville restaurant

A study should separate downtown or destination dining from highway or suburban locations, since the trade areas and the sales that comparable rooms reach differ. Fit-out or purchase costs deserve a test against the $311,000 median; count competing full-service rooms within a drive time and show a slow ramp in the first year. A cancellation floor of 13.2% suggests that some approvals do not close, so the plan should show lease, permits and licensing in order. Coverage after rent and labor belongs in the base case, with a second case that cuts sales. Counties are placed by the July 2023 area list.