When Amie Cunningham and her husband moved from Mamaroneck, they were immediately drawn to the charming restaurant nestled at edge of beautiful Lake Mahopac. Viewing the restaurant through the trained eye of a retailer for high end stores, Amie said, "I could tell that [the restaurant owners] were having trouble with long lines and two hour waits."
The local SCORE organization put Amie in touch with Community Capital New York when she looked for a loan to buy the restaurant. Knowing nothing about the restaurant business, Amie credits her good luck to sign on Chef Kenny Breiman, who formerly worked in the kitchen of Peter Kelly's X20 on the Yonkers' waterfront, and to her sweat equity working eighty hour weeks.
Three years later, The Terrace Club employs 28 full and part-time staff, many of whom are college students, during the summer season and retains ten full time staff during winter months. The restaurant recently purchased a boat for guests to cruise on the lake and get a closer view of the Frank Lloyd Wright designed residence that is situated directly across the lake from the restaurant. Seen from The Terrace Club's outdoor patio, the famous home, with its cantilevered terraces, seems to be floating over Lake Mahopac. The Yorktown Artists' Group, a collection of local artists, poets and musicians gather regularly at The Terrace Club, as well as professional groups such as the Professional Women of Putnam County.
Were there any intermediary steps between your SCORE referral and being approved for a loan from Community Capital?
It was a process. After several meetings and guidance from SCORE, I perfected my business plan. Then I met with Community Capital's small business loan officer and finally with the loan approval committee. I also received a personal loan and a business line of credit from two different banks to accumulate the capital needed. I shopped my business plan to several banks before receiving the loan and line of credit. I believe being a young woman made banks more skeptical to invest in me.
What is the best advice you received as you built your new business?
"Your customers ARE your business."
In hindsight, what do you wish you knew?
How hard it would be! How much I didn't know! How much money I needed!
Now that your family has grown to include a new baby daughter, how do you manage to balance work and parenting?
I have to say that timing was on my side. I'm now going into my fourth year owning The Terrace Club. I would not have been able to manage both [motherhood and management] if it had been my first or second year operating the restaurant. When I was pregnant, I worked the entire summer, our busiest season. Our daughter was born in the winter when it's my slower season. Personality and attitude play a huge part as well. I'm not a lazy person and for the most part I am always pretty energetic and happy.
You say "I wouldn't be here without my customers from the community." How do you connect with your community outside of the restaurant?
We are a huge supporter of local community groups. We donate annually in gift cards to local sport teams, schools and other community organizations. We always participate in The Food and Wine Festival that benefits the Westchester/Putnam's Women's Group. We collect donations twice a year for our local "Friends of Karen" organization.
What's next for you and The Terrace Club?
We have to keep current to keep alive. So maintenance is always a priority. Not having a "corporate budget" means we do a lot of handy work ourselves after purchasing our supplies. We know it's important to show our customers that we are always trying to improve things, whether it is a fresh paint color or new cabinets for the bathrooms, because we care.
The Terrace Club
825 South Lake Blvd
Mahopac, NY 10541
www.theterraceclubrestaurant.com
(845) 621-5200