"Ladies and gentlemen, boys and girls, children of all ages, Dave Corriveau, co-founder of Dave & Buster’s Inc., proudly brings you the next great restaurant / entertainment venue: BozoWorld.”
That may be how ringmaster Corriveau pitches his latest restaurant/entertainment concept to investors. Called the BozoWorld of Entertainment, Corriveau and his partners have dreamed up an innovative 25,000-square-foot restaurant / entertainment complex, the first of which he plans to open on New Year’s Eve, Dec. 31, 2013 in Dallas.
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The new themed restaurant will operate under the name Bozo’s Big Top in an octagon-shaped building with the appearance of big top tent. With descriptive slogans that includes ‘Funnest Place on Earth!’ Corriveau hopes to follow a successful opening with an aggressive expansion planto open multi-unit, full service restaurants in major U.S. markets and internationally.
“I’m more than excited about the opportunity to spearhead the creation of what I consider ‘something special’ as well as applying the wide spectrum of knowledge harvested during my 30-years of experience within the restaurant / entertainment industry,” said Corriveau, then adding, “not to mention how much fun and what a helluva ride we’ll have doing it!”
BozoWorld LLC, which owns the exclusive global identity rights to the “Bozo the Clown” brand for restaurant / entertainment concepts, was recently formed by two successful ed-tech entrepreneurs. Armie Carabet, chairman and CEO of online education firm ClickN Kids Inc., and James Highfill, COO of ClickN Kids, brought on Corriveau as co-founder and CEO of BozoWorld to help launch and develop the Big Top concept of food, entertainment and attractions.
Carabet and Highfill cited Corriveau's ‘can-do attitude’ as well as his industry expertise and demonstrated management talent for bringing him into the venture.
For his part, Corriveau believes BozoWorld will blossom into a successful entertainment-eatery and come to dominate the market similar to Dave & Buster’s, which he helped launch 30 years ago.
According to marketing materials being circulated to potential investors, each Big Top location is estimated to average $5.5 million in sales annually, generating $1.65 million EBITDA.
The company is seeking to raise $7 million to fund operations and has already secured a contingent commitment of $500,000. The inital funds will be used to open the first three restaurants, with the second planned for the third quarter of 2015, and the third in the first quarter of 2016.
BozoWorld will own and operate some of the eateries and also plans to partner with qualified food and beverage operators to open its locations worldwide. In addition to the first three company-owned sites, BozoWorld plans to open four joint venture-partnered restaurants in 2016.
It’s initial expansion plans would focus on such locations as Disney Pleasure Island, Universal City Walk, Mall of America, etc.
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