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Business Plan Discovery San Luis Obispo, LP a California limited partnership

Executive Summary Discovery is an entertainment destination that creates California-lifestyle experiences for a connected, socially-conscious, youthful culture. Most everyone around the world recognizes and appreciates the California Brand. Discovery's products targets and services those that seek after California's distinct, exotic and exciting lifestyle-entertainment experiences.

Discovery is an emerging concept for the entertainment and bowling industry: a destination venue for secondary markets that combine entertainment products with proven and reliable revenue sources. Secondary markets across the nation lack the excitement and vitality of an all-encompassing destination venue, such as  Lucky Strike Lanes, House of Blues,  Bowlmor, Brooklyn Bowl, and  Pinstripes. Discovery provides the under-serviced, secondary markets a unique, California-lifestyle experience by combining a trendy, sophisticated bowling center, live entertainment concert venue, and private event facilities with a first class, California themed bar and California-fusion cuisine.

Discovery’s business model is proven successful after opening its first location in Ventura, a 14,500 SF Facility with 9 lanes of bowling, 170 seat restaurant and bar, and 425 capacity venue. The company has leased 24,500 SF of heavily trafficked real estate that is nestled in the heart of downtown, across the street from a 5 story parking garage, next to a 7 screen movie theater complex, and shares the same block with tenants like Apple, Victoria’s Secret, and California Pizza Kitchen. This property will host the county’s only boutique bowling alley with restaurant, bar, and lounge; which will service the increased demand from the combined 210 feet of street-facing frontage intersecting at Chorro St. and Marsh St. — San Luis Obispo’s most trafficked corridor — and the entrance to the world famous Farmer’s Market, drawing more than 10,000 market-goers every Thursday evening.

Discovery’s products create a unique paradigm and position Discovery San Luis Obispo as:

• the largest mixed-use entertainment destination on the central coast, providing 200+ nights of live entertainment, sophisticated dining program, and an exclusive basement speakeasy; creating multiple dining experiences with 240 seats; nightlife, and lounge experiences with multiple bars, viewing levels, and indoor/outdoor fire pits; serving fresh, farm to table cuisine paired with the regions best wine and carefully selected collection of craft beers.

• the city’s only public Bowling Center• the region’s only mid-range music club with scalable

design for 300-650 capacity• an exclusive investment opportunity for qualified and

accredited investors.

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Overview Discovery has five primary revenue sources:

•Live Music (19%)

•Food Sales (24%)

•Bar Sales (35%)

•Bowling (14%)

•Private Events (8%)

The establishment has a capacity of 800 persons, making it one of the largest private event facilities on the Central Coast. Discovery has leased the property with a 10 year lease that includes three 5-Year Options starting at $1.79 SF NNN. Jamestown Properties in partnership with Copeland Properties are the landlord providing a $2,000,000 guaranteed contribution plus additional $250,000 contingency contribution. Jamestown’s assets include Times Square, Ghirardelli Square, and New York’s Chelsea Market. Their contribution covers one-half of the total project cost.

The business model is anchored by the automated revenue from bowling. Similar to a laundry mat or car wash, the revenue is generated by fixed equipment with little overhead and minimal labor. The live entertainment contributes to the diverse draw of demographics bringing hundreds and hundreds of visitors weekly to the already highly foot-trafficked location. The volume of concessions sold during concerts is the driver behind the success of the food & beverage program. The low-risk, cash up-front deposit requirements for Private Events, combined with the ability to schedule labor and cost of goods, creates the highest margin and most desirable revenue for the business.

We project an average 17.4% annual cash on cash return on investment after year one. We are offering the Limited Partners a Ten percent (10.0%) Priority Return (paid and reset quarterly) on Adjusted Capital Contributions prior to any other distribution. Discovery requires Two Million Four Hundred Thousand Dollars to be contributed by the Limited Partners. Pg 3 of the Executive Summary has an ROI Summary for brief review. For detailed financials, please refer to Section 9. Financial Projections in the PPM for complete Start-Up & 10 year income statements, industry comparisons, performance metrics, and operating proformas.

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Discovery’s business model is led by a powerful management team with expertise and success in numerous industries including bowling, restaurant operations, retail operations, banking, hospitality, entertainment, and special events amongst others. The financial controls and accounting platform are serviced by an industry leading, national accounting firm, RSI Accounting (clients include The Cheesecake Factory and Lucky Strike Lanes). The business will be managed by Discovery SLO Management, LLC.

ROI Summary

** 2015 is projected to have only two months of operations.

Please refer to Section 9. Financial Projections in the PPM for complete 10 year financials.

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Distributions and Priority Return The NET distributions of profits from operations will be split Seventy percent (70%) to the Limited Partners and Thirty percent (30%) to the General Partner. The General Partner distribution is subject to the Limited Partners receiving the Priority Return of Ten percent (10.00%). The Priority Return only affects distributions if 70% of the quarterly distribution results in a return to the Limited Partners that is less than the Priority Return. The profits from sale or refinancing will be distributed 70% to the Limited Partner and 30% to the General Partner except that the Limited Partners must first receive their Adjusted Capital Contributions and Priority Return. All distributions (except return of capital) are 70% Limited Partner and 30% General Partner from the first dollar subject to the Priority Return which means ten-percent (10.00%) annual return on Adjusted Capital Contributions that are distributed on a quarterly basis. The Priority Return is not cumulative and resets each calendar quarter. It is calculated from the first day through the last day of the calendar quarter immediately preceding the date the distribution is made. Please see Section 5 of the Partnership Agreement for complete information on Distributions and Tax Allocations of Net Income and Net Loss.

General Partner The General Partner is Discovery SLO Management, LLC, a California limited liability company. The General Partner is a manager-managed LLC by Jeremy and Joshua Pemberton. Their bio is detailed in the Management Summary (Section 5). The day-to-day management of the operations will be performed by Discovery SLO Management, LLC., for which it will receive a management fee of 2% of the collected income from the business.

Contact Information For Complete Offering Memorandum with detailed financial projections/proformas, business plan and legal/lease documents, please contact Jeremy Pemberton by phone (805) 252-1394, or email jeremy@discoveryvenues.com. Please advise us of your approximate dollar level of interest.

Thank you for your time and consideration.Sincerely,

Jeremy Pemberton, Managing PartnerDiscovery SLO Management, LLC

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