Volume 3 Issue 6 November/December 2008 - Sunset Gower Studios
Volume 3 Issue 6 November/December 2008 - Sunset Gower Studios
Volume 3 Issue 6 November/December 2008 - Sunset Gower Studios
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
� Creating a Strong Economy � Promoting Hollywood � Political & Legislative Action � Networking & Promoting Your Business � Assisting the Community HOLLYWOOD BUSINESS ADVOCATE<br />
MEMBER SPOTLIGHT<br />
HOAGIES & WINGS<br />
Hoagies & Wings, founded in 2004 by a Harvard Law graduate Akida<br />
Mashaka and two Cordon Bleu Culinary School Graduates, is an<br />
award-winning quick service restaurant chain with five locations.<br />
Serving original hot sandwiches and chicken wings, Hoagies & Wings<br />
has become a recognized leader in delivery and catering of traditional<br />
Buffalo-style hot wings throughout Los Angeles via their on line<br />
ordering site, GotWings.Com. A portent to his business acumen when<br />
he was a nationally ranked teenage tennis<br />
player, and was always teased about<br />
his chicken-eating habit. According to<br />
his peer players, just give Akida some<br />
chicken and he could win any tennis<br />
match. His like for “chicken eating” was<br />
rekindled when his partners came to him<br />
with the idea of opening a restaurant with a theme base of hot wings;<br />
subsequently the first Hoagies and Wings was launched. The culinary<br />
skills of partners/chefs, Bryan Newell and Jimmy Homsapaya,<br />
enabled Hoagies and Wings to become CitySearch winners in 2004.<br />
Delivery and catering is the primary service for the new Hollywood<br />
outdoor diner location located at 6751 Santa Monica Boulevard.<br />
� Call (323)463-2700 � www.gotwings.com.<br />
CLASSIC HOLLYWOOD GLAMOUR MAKES ITS<br />
MODERN DEBUT WITH THE OPENING OF THE KRESS!<br />
The opening of the Kress, a 38,800 sq. ft., multi-million dollar historically-renovated<br />
dining and entertaining complex, marks Visco<br />
Entertainment Collections official grand entrance into Hollywood.<br />
The Kress is an upscale dining and entertainment venue, which<br />
complements and contributes to Hollywood’s continued revitalization.<br />
The Kress boasts a full-service restaurant led by worldrenowned<br />
Executive Chef Troy N. Thompson with a carefully-crafted<br />
cuisine menu with an Asian influence;<br />
a basement-level lounge, live entertainment<br />
and dance floor; a third level banquet<br />
and event center offering food service,<br />
live entertainment and dance floor; and finally a spectacular<br />
design-driven rooftop lounge with cabanas, a limited food service<br />
menu and a 360-degree view of Los Angeles including the legendary<br />
Hollywood sign. The Kress stepped in to take this historical<br />
masterpiece back to its original 1934 architectural brilliance proudly<br />
maintaining the original 1930’s marble stairway, brass railings,<br />
ornate Italian-designed ceiling and an art deco façade. To honor the<br />
building’s significant Hollywood history, Viscuso commissioned<br />
Frederick’s of Hollywood to design the uniforms for the dancers at<br />
the club. Also, the name The Kress is a homage to the structure’s<br />
original tenant and owner, S.H. Kress and Co. a nationally-recognized<br />
retail chain which operated until 1981.<br />
� Call (323)785-5000 � www.TheKress.net.<br />
IL FORNAIO<br />
Il Fornaio thrives in the tradition of Italy’s trattorias, highlighting the<br />
gorgeous sites, sounds and aromas of authentic Italian cuisine.<br />
Serving award-winning Italian food, Il Fornaio is among the best in<br />
Los Angeles. An array of fresh breads baked<br />
daily from centuries-old recipes is presented to<br />
every table with Il Fornaio’s private label olive<br />
oil and balsamic vinegar. New regional Italian<br />
specials are featured monthly during Festa Regionale. With an event<br />
coordinator on-site to handle all of your needs, our private dining<br />
rooms offer the perfect atmosphere to create the ideal event experience<br />
for your special events and business meetings. Space is limited,<br />
call today to book your holiday event. Winner of the Wine Spectator<br />
Award of Excellence <strong>2008</strong>. Open for lunch and dinner daily.<br />
� 1501 Ocean Ave. Santa Monica � (310)451-7800 � www.ilfornaio.com.<br />
Self-Financing Has Its<br />
Rewards…and Risks<br />
by Richard Krelstein<br />
SCORE Counselor<br />
Loans are a great, affordable way to get a<br />
small business off the ground. But they’re<br />
not for everybody. Personal sources of financing can work just as<br />
well, and may be the entrepreneur’s “Plan B” if attempts to<br />
secure a commercial loan are unsuccessful.<br />
Although self-financing options may give you more control<br />
and flexibility over your start-up capital, special care is essential<br />
to make sure they are used wisely. A misstep puts more than your<br />
small business at risk. It can also endanger the long-term security<br />
of you and your family.<br />
Before you dip into your savings or tap the equity in your<br />
house, make sure you have a realistic plan to meet your existing<br />
obligations, such as mortgage, utility bills, vehicle payments,<br />
insurance, and daily living expenses. Be sure to consider “worstcase”<br />
scenarios, such as a spouse losing his or her job, major car<br />
repairs, or serious health issue. The likelihood of such events may<br />
be remote, but the consequences on your financial security will<br />
be very real if they do occur.<br />
A good preventive measure is to designate certain funds as<br />
“off-limits” for use in your business. Certain retirement accounts<br />
may also be “untouchable” due to the tax consequences and<br />
heavy penalties associated with early withdrawals.<br />
Friends and family members can be good sources for start-up<br />
capital. However, history is full of ruined businesses and personal<br />
relationships because money was not repaid as expected, or the<br />
investor demanded a say in how the business was run.<br />
Even if your benefac-<br />
tors place no conditions on<br />
the money, make sure<br />
everyone clearly understands<br />
how the funds are to<br />
be used; the repayment<br />
terms and amount of inter-<br />
Richard Krelstein<br />
... Make sure everyone<br />
clearly understands how<br />
the funds are to be used<br />
est, if applicable; and what role, if any, contributors will play in<br />
the business. Then, put everything in writing and have all parties<br />
agree to the terms.<br />
Credit cards can also be a source of quick cash for your business,<br />
but low limits and high interest rates usually make them<br />
useful only as a last resort, or as a short-term cash flow bridge.<br />
It’s best to use them only if absolutely necessary, and you have<br />
the ability to pay them down quickly. Otherwise, that debt can<br />
quickly spiral out of control. Also carefully scrutinize equipment<br />
financing offers from retailers and manufacturers. Their terms<br />
may be more restrictive and expensive than credit cards.<br />
To get an insightful, objective look at your small business financing<br />
options, contact SCORE “Counselors to America’s Small<br />
Business.” SCORE is a nonprofit organization of more than<br />
10,500 volunteer business counselors who provide free, confidential<br />
business counseling and training workshops to small business<br />
owners. An experienced, outside perspective can benefit any<br />
small business, which is it’s a good idea to contact SCORE<br />
“Counselors to America’s Small Business. Call SCORE at the<br />
Hollywood Chamber of Commerce (323) 469-8311 today for an<br />
appointment with Richard Krelstein.<br />
CHAMBER BUSINESS BENEFIT<br />
providing useful information to our members<br />
hollywoodchamber.net � 13