A few of these questions would make good blog entries, and so I may elaborate more soon. That said, here's the nuts and bolts:
1. This will be 100% owned and operated by Adagio Teas. That said, Adagio is owned by some pretty impressive people. I don't want to jinx it but so far it appears that I'll have a great deal of freedom to apply what I've learned over the past five years in Tea Retail, apply the suggestions of our customer base, and experiment with the model in an effort to find the perfect balance. The store will most likely bear the Adagio brand and name, but there has been some debate over the options there.
2. Adagio is a privately held family company. More information at http://www.teamuse.com/article_061001.html
3. I would like to continue our expansion but it depends on the performance of the store. Unless things go very poorly with the first, we will likely open a second and maybe a third, all in the Chicago land area. I'd hate to give up on retail because of some unique problem at one location. Expansion beyond the first two or three, however, will require a very solid business case. It is possible that these stores will be great for the brand and overall business, but not terribly profitable individually. Or they may be extremely successful on their own which would prompt us to expand to other key markets.
4. The location will most likely be somewhere between 1,200 and 1,500 feet of retail space. Smaller is possible but then we'd have to give up some of our ideas for "experiencing tea". There are a handful of neighborhoods around the Chicago area that I'm targeting, but because I am aware of a couple other tea companies that are looking in similar areas I'll keep that secret for now. We are negotiating on one space currently, but the odds are always against any specific location until the lease is actually signed. The most important thing is that the location is PERFECT. The future of Adagio Retail depends on it!
Any other questions... bring it on.