Tropical Gyros - Funded and Closed

Tropical Gyros is a uniquely created product by Chef Kevin Culmer. While the name Gyro is synonymous with Greek cuisine, there is nothing Greek about a Tropical Gyro. Jerk Chicken, Sweet Fire Shrimp, and Grilled Coconut Curried Lamb are only a few of the savory flavors that we serve in our signature wheat wraps. Completed with authentic seasoning blends and one-of-a-kind sauces and dressings, and topped with freshly diced mangoes and pineapples giving them that tropical feel. Our handheld tropical gyros are made to order with fresh, wholesome ingredients and come straight from the grill in no more than 10 minutes, giving Bahamians a wide variety of healthy alternatives at competitive prices that tantalize the pallets of both Bahamians and tourists alike!

Since launching in 2015 as a vendor at the World Relays, making $1,700 in sales on the very first day, Tropical Gyros has been committed to quality products, customer service, and increasing profit.

About Tropical Gyro

Tropical Gyros is a casual/fast food restaurant that primarily sells a signature product called the
“Tropical Gyro.” Aimed to compete with fast food restaurants that feature sandwich-styled, easy to eat products that their customers enjoyed, Culmer designed a wrap similar to a Greek gyro, but with its own unique twist.

The Tropical Gyro combines a panini wrap, a variety of five meats, five seafoods, and grilled veggies, and toppings of chopped tropical fruits and lettuce. To give them an even more unique twist, Chef Culmer cooks the meats and tops the final product with his signature and secret sauces. Some examples of the gyro varieties are jerk chicken, sweet fire shrimp, coconut curried lamp, and BBQ salmon.

Tropical Gyros offers our signature flavours in more forms than gyros to expand the customers choices. Gyro bowls, the signature meats served with rice, plantain, and side salad, are sold with a$2.00 to $3.00 markup. Small and large salads also utilize the meat bases and target the customers who are looking for an even lighter and green-based product. Smalls are sold cheaper than the gyros, and larges compare with the gyro bowl prices.

These handheld or plated foods are served with an option of fries or salad, and bottled or cans drinks.

Proof of Concept

Since launching in 2015, Tropical Gyros has proven that is is supplying a demand in the market. In the first year of business, the company gained a profit of $13,000. Now, 7 years later, the company has earned $2.3M in sales and is currently at their pick-up location on Rosetta Street averaging $600,000 in annual sales. They have also outcompeted another gyro businesses in their business district and survived the imposed COVID19 restrictions.

Reasons to Invest

Tropical Gyros offers a unique variety of ten different meat, seafood, and sauce combinations, as well as a grilled vegetables option. These meats are served in three forms; gyros, bowls, and fresh salads. This allows the company to offer a large menu while keeping production simple. These food items are served with a side of fries or simple salad, and a bottled or canned beverage. Prices range from $8.90 to $20.72.

The Opportunity

Tropical Gyros strategically fills a void in the nearly $200M fast food market in The Bahamas. The Bahamas has a serious problem with obesity, diabetes and other non-communicable diseases, making us one of the sickest nations in the Caribbean. Much of this is due to Bahamians frequent consumption of unhealthy fast food. There is a void in the market for a healthier, affordable, hand-held alternative to the fried, processed, and high-sodium products currently being offered by our main competitors, US fast-food burger & chicken franchises and hot dog vendors.

The Tropical Gyro Solution

Tropical Gyros aims to garner up to 5% of the fast food market by catering to the segments of the market who are more health conscious, are willing to spend on average $1.00 – $3.00 more per meal, and prefer a fresh char grilled taste with tropical flavours.

Competition

Capital Raise

Tropical Gyros Ltd. seeks to raise a total of $850,000. The funds will be used to construct a production and distribution center, outfit each new location, secure the leases, upgrade the current Rosetta Street location, purchase an executive food truck, and provide the company with working capital for it’s first year post-funding.

Marketing Objectives

5% of our revenue goes towards marketing. It is our goal to reach our customers through a strong online presence with heavy social media marketing, placing an emphasis on promoting quality food related photos and content. Tropical Gyros also has existing advertisements on Rodney Moncur’s ‘Freedom March’ and plans to continue this partnership which has proven its worth.

All marketed materials will be designed to promote Tropical Gyros as a business that offers flavorful, healthy, and fresh food.

Use of Funds

$
190,000	Construction
39,000	Lease Signing
199,461	Equipment
120,000	Food Truck
290,000	Operating Capital
$838,461	Sub Total

Business Model

Vision

The next 3 years will bring three new full-service take-away stores, expanding to Carmichael, Cable Beach, & Prince Charles. The new stores will include outdoor seating to stay relevant in a COVID environment.
We will also launch an executive food truck to take our business mobile and have a presence at special events, high traffic venues, and service on-site catering bookings.
Lastly, we will build a processing facility to service our four different locations and the food truck, making production smoother and more cost effective.

Why Invest Now

Tropical Gyros Crowdfunding Offering Document

Kevin Culmer is the Head Chef, CEO, and Co-Founder is a Red Seal certified cook, chef, and restaurateur with over 30 years of experience in restaurant operations and management, both locally and in the US. He has developed a wealth of knowledge in restaurant operations, costing, menu creation, and service and hospitality training. He has this vision of turning foods which are not only easy to eat and delicious to the taste buds but at the same time are also healthy to eat. Consequently, he has curated a menu featuring his signature sauces that make his gyros unique and exactly what their customers want. Since 2015 Chef Culmer has dedicated his efforts to developing Tropical Gyros.

Kevin CulmerCEO

Pamela Culmer (COO) has over 30 years of legal, office administration and human resources expertise. She handles the administrative components of the company. She ensures that our quality standards of service etiquettes and company standards are adhered to.

Pamela CulmerCOO

Darius Ferguson (CFO) as nearly 20 years of working in finance, has a B.S. in Accounting and Finance & Banking accomplishing magna cum laude, and is the proprietor of Golden Parachutes Advisors. He has proven skills in managing the flow of company funds and has helped Tropical Gyros achieve the expansion we’ve experienced thus far.

Darius FergusonCFO

Tropical Gyros aims to garner up to 5% of the fast food market by catering to the segments of the market who are more health conscious, are willing to spend on average $1.00 – $3.00 more per meal, and prefer a fresh char grilled taste with tropical flavours.

Tropcial Gyro’s strategy is based on serving our customers well. The focus will be on maintaining quality and establishing a strong identity in the local market. A combination of local media and local store marketing programs will be utilized at the current and each future restaurant location.