Restaurant Feasibility Study in the Springfield, MO Metro Area

Springfield, Missouri: a level playing field

A location quotient of 1.00x puts restaurant lending in Springfield exactly level with the national mix, and the other measures stay moderate. The cell holds 79 full-service restaurant approvals worth $34.8 million for FY2017 to FY2026. Springfield ranks 66 of 821 among all areas, and restaurants lead locally at 1 of 39. Greene County, MO carries 66 loans, Christian County, MO 7 and Polk County, MO 6. Greene's total is far ahead of the other two, so a site outside Springfield proper should explain how it will draw customers.

The median is $235,000, 0.85x the national class median, and $136,550 and $478,100 are the quartile edges. SBA 7(a) carried 72 loans and SBA 504 carried 7. Franchised units are 8.9%. Loan Analytics withholds the cancellation rate and the write-off rate, along with the yearly counts for FY2020 and FY2022, so none appears and no blank reads as nil.

Lenders

OakStar Bank holds 16 SBA 7(a) loans and $12.2 million, a commanding position in a 72-loan program, ahead of Simmons Bank with 10 and $3.0 million, Regent Bank with 9 and $3.9 million, and Legacy Bank & Trust Company with 5 and $1.1 million. Rural Missouri, Inc. is the SBA 504 name, with 7 loans and $3.0 million. The average dollar amount at OakStar is the largest on the list, and its 16 loans are the largest book in the record. SBA's holder data is no verdict on any bank.

Approvals were 12 loans and $5.7 million in FY2017, 17 in FY2018, 9 in FY2019, 8 in FY2021, and 5 in both FY2023 and FY2026, the latter with $2.0 million. FY2024 and FY2025 each show 8. Springfield's totals use project counties matched to the 2023 delineation.

What a Springfield restaurant study has to settle

Greene County holds nearly the whole record, so the study can work neighborhood by neighborhood, test demand against competing concepts, and cost build-out against $235,000. Because the loss record is withheld, it should show its own downside case, with sales per seat and prime cost repaying the loan. An appraiser values the leasehold or property last. The record of 79 earlier loans cannot decide any single project.