701 Eateries

701 Eateries

Restaurant

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Security Type
Revenue Sharing
Categories
Food & Bev
Min Investment
$100
Location
Fargo, ND
Offering Date
February 26, 2021
Expected Close Date
May 19, 2021
Target Raise
$250.00K-$1.00M
Deal Notes

If you invest $100, the business agrees to share a portion of their revenue until you have been repaid $150. They will owe you this amount by 1/1/2031, regardless of revenue.

Company Description

Brew restaurant's mission is to create a company that people can have a career in the culinary arts. We focus on creating a collaborative environment where ideas are shared and passions can grow. Our career pathways allow many opportunities to grow with the company in all areas of culinary arts and hospitality management. We continue to our grow employee health and wellness program as we believe healthy, happy employees lead to vibrant restaurants and great customer experiences.

Key Deal Facts

Opening Spring 2021
Built in 1919 as Fargo's "Acme Dairy," 701 N University Dr has been home to multiple businesses over the course of nearly 100 years. The renovation has the cool factor of a historic building with the functionality of a new space with the addition.
2 restaurant concepts in 1 building. Prairie Kitchen: An all occasion restaurant with a woodfire grill and open kitchen serving breakfast, lunch and dinner. Camp Lonetree: Embracing all of our seasons, this rooftop will be open year round with Igloos, heaters, hot totties and mini-curling rink in the winter & open garage doors, campfire pit and sing-alongs in the summer!
Kitty corner from newly renovated (grand opening April 20th 2021) Fargo Brewing Company which is not only a brewery but an outdoor concert venue and an event center. We can't wait to listen to the music on the rooftop and collaborate on community events together
This location is a gateway to the bustling Fargo downtown and also 6 blocks from the largest University in North Dakota, NDSU

Use of Proceeds

  • Operating Capital: $200,000
  • Space build out: $770,000
  • Mainvest Compensation: $30,000

Management Team / Advisory Board Bios

Alex Belquist
CEO and Director of Culinary Operations
While playing football at NDSU he worked at Labby's Bar and Grill and realized that the food industry was a perfect industry to combine his love for business and also his creativity. He likens the kitchen to the football field. . a high stress environment with the same adrenaline rush as being on the field in a big game. He attended Cordon Bleu Culinary School in Minneapolis but calls himself a "culinary school dropout" as he quickly learned his heart was in creating successful restaurants and menus that combines chef-driven with approachability rather than just cooking. He's a creative who dreams big and can out-karaoke anyone.

Britt Belquist
Chief Operating Officer
Britt has worked in numerous restaurants throughout the years and brings a wealth of knowledge on excellent customer service and restaurant operations. She is the culture keeper at Brew Restaurants and is constantly working on improving training, employee benefits and perks to help make Brew a company where people can have a career in the culinary arts.

Shelby Terstriep
Director of Events, Sales, and Marketing
Shelby grew up with a theater director mother doing events and selling ads since she was 9 year old. She is an oncologist (with an added specialty of Culinary Medicine--believing that food is medicine) by day and restaurant owner by night and has started and leads the sales and event team and marketing strategy.

Chad Terstriep
Director of Finance and Merchandise
Chad will be joining the team to lead new merchandising efforts as well as the finance department. He has an MBA in finance and currently is also the President of a Health Care IT company. He really likes beer and food but absolutely love spreadsheets!

Cassie Hahn
District Front of House Manager of Brew Restaurants
Cassie has risen the ranks with Brew Restaurants starting as bartender, then general manager and now leading the team of general managers of all Brew Restaurants. She is responsible for ensuring support and accountability of the management team at Brew locations as well as geeking out with the bartender over mixology.

Blake Minge
District Manager of Kitchen Operations
Blake was born in the restaurant industry, his father owned and operated several lakes-area restaurants and he was cooking as soon as he could reach the counter. When his father passed away unexpectedly, at 17 he took over management of the restaurant and grew a successful catering company. In August of 2020 he sold his business and joined the corporate team at Brew Restaurants leading the kitchen managers at each Brew site and growing the catering department.

Eric Myhre
Business Partner
Eric has been in Corporate Agricultural sales for 20 years, working and traveling not only across the Midwest of the United States, but also works with clients worldwide. He grew up on a farm in central North Dakota which taught him how to raise animals, grow grains and how to cook and eat food from his Scandinavian descendants.  Eric loves people and building long term relationships.  Eric will continue to assist the team in growing corporate events and exploring future opportunities for 701. 

Deal Notes

If you invest $100, the business agrees to share a portion of their revenue until you have been repaid $150. They will owe you this amount by 1/1/2031, regardless of revenue.

Amount Raised : $372,700
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Security Description

Revenue Sharing is a form of lending that involves sharing revenue from the business with investors as return on their investment. It is often a fixed percentage of revenue and you are paid until you earn a total return on your investment.

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