Restaurant Feasibility Study in the South Bend-Mishawaka, IN-MI Metro Area

South Bend dining rooms: an area that spans a state line

Locally, South Bend-Mishawaka, IN-MI puts full-service restaurants in first position (1 of 39), yet nationally the area sits at 164 of 821, and a 0.86x location quotient leaves restaurants a bit lighter here than in the national book. A $177,000 median loan comes to 0.64x the nationwide median. Between FY2017 and FY2026 the approvals number 27, worth $10.0 million, and 25.9% of loans are brand-affiliated.

Counties, range and the lender with a digit

St. Joseph County, IN carries 19 of the loans, and Cass County, MI carries 8, so the area spans a state line. The middle half runs from $73,900 to $482,050. FY2018 shows 7 loans and $2.9 million, and FY2019 shows 6 loans and $1.3 million. Other years are not shown, as 27 loans cannot fill every year. 1st Source Bank is recorded holding 5 loans, $1.0 million in all, and that is custody, not origination. Program counts are hidden.

Blanks

The page gives South Bend-Mishawaka no cancellation or charge-off floors, since few of the 27 are early loans, and nothing is implied about performance.

What a small median does for the file

A median of $177,000 means that most requests here are for fit-out, equipment and working capital in leased space. A lender evaluating one will weigh the sales plan, the lease terms and the operator's track record ahead of collateral. Anyone asking for much more must show what the extra money buys.

What a study for a South Bend-area restaurant must test

Sales come first: seats, turns and check size, tested against what nearby dining rooms appear to do. Labor, food cost and occupancy cost need figures from comparable rooms. If the site sits near the state line, the study should check licensing rules in the state where the restaurant will stand and not assume the neighboring state's. A liquor permit, if planned, belongs in the schedule. Lenders test payment coverage on cautious sales and a slow opening, and the appraisal will rest chiefly on the going business, not the structure. Show a downside case and the equity that supports it.