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Tony and Hai Pham are thrilled to introduce “The Banh Mi Stop,” a moderately priced fast-casual concept serving Vietnamese favorites, including banh mi sandwiches, rice-and-noodle bowls, and pho. The Phams, who will serve as owners and operators, bring 20 years’ experience in the restaurant business and last worked as executive chefs of the award-winning Mai Lee restaurant.
The Banh Mi Stop will be located in an 1,800 square-foot space on West Hanley Road in Carmel, Indiana. Renovation plans include an updated dining area and new bathrooms, and the new design will feature Vietnamese street style, with unique details carried out by Hanna Flores of Flex Designs, and special features will include an elevated bench seating area, a green wall, and string lights, and the dining area will seat around 40 guests and feature a hanging collaborative art installation by Chicago muralist and chef Won Kim. The Banh Mi Stop fulfills a market demand for quick, cheap, and delicious Vietnamese food. Conservative projections anticipate the following costs and first-year sales: $363,000 in start-up costs, with $174,000 from the owners and the remainder from a proposed bank loan; 1,400 customers per week resulting in weekly sales of just over $15,400, or $800,800 annually; $445 per square foot in sales annually, positioning The Banh Mi Stop as a highly desirable concept in a fast-casual market, where $300 to $425 per square foot is considered moderately profitable and therefore a good investment.