City Grill makes 760,000 euros in first year

City Grill, a new chain of restaurants owned by Dragos Petrescu, one of the founders of the La Mama restaurants, has turned over 760,000 euros in its first year in business, and is expecting 2 million euros in 2005. There are currently two City Grill restaurants and one coffee shop in Bucharest. City Grill expects to recoup its initial investment through a four-year amortisation plan. “I set up City Grill in May 2004, as I have over 7 years experience in this field. I started developing this new restaurant concept last year to target the medium and upper market niches,” said Dragos Petrescu, the founder and sole shareholder of the City Grill restaurant chain. City Grill restaurants attract La Mama clients, as well as very high-income brackets. “We are targeting this niche because average salaries in Bucharest have increased by three times over the last few years, with the same happening to consumer expectations.” ZF