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Security Type
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Revenue Sharing
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Categories
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Food & Bev
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Min Investment
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$100
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Offering Date
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May 04, 2018
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Expected Close Date
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September 07, 2018
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Target Raise
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$200.00K-$700.00K
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Deal Notes
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- Security: Revenue Sharing Notes
- Offering Amount: Minimum $200,000 to maximum $700,000
- Investment Multiple: 1.50x to 1.60x
- Payments: Monthly
- Revenue Sharing Percentage: Revenue streams will come from food and beverage sales, event space rentals, merchandise, cover and ticket sales. If the final offering amount raised is less than or equal to $350,000, then 3.25% of monthly gross revenue will be shared. If the final offering amount raised is greater than $350,000 but less than or equal to $500,000, then 4.55% of monthly gross revenue will be shared. If the final offering amount raised is greater than $500,000 but less than or equal to $700,000, then 6.5% of monthly gross revenue will be shared.
- Maturity: 48 Months
- Security Interest: Blanket lien on all assets of the business
- Ownership % Represented by Securities: 0%. Investors will not receive any equity interests in the Issuer or any voting or management rights with respect to the Issuer as a result of an investment in Securities.
Company Description
Pour Behavior is expected to open this winter at 2211 Travis St., previously the site of a parking lot at the corner of Webster and Travis streets. Construction on the concept is expected to begin this fall.
With both indoor and outdoor spaces, the 12,000-square-foot project will have multiple entertainment options, including over 50 TVs and projectors for sporting events plus a dance area for DJ sets and live bands, according to a press release. Plans also include incorporating ping pong, shuffle board and cornhole. Later, a private events space will be added.
The menu at Pour Behavior will offer lunch, dinner, late-night snacks and weekend brunch with brick oven pizzas, burgers and more made with organic ingredients. The bar program will have a large selection of local beers, bottle service and cocktails on draft. The owners also plan to include a user-friendly food pairing guide.
Perks
EARLY BIRD REWARD: 69 of 100 available
Complimentary bottle on your birthday
Invest $100 or more: 2 Private VIP Launch Party Invitations
Invest $500 or more: 4 Private VIP Launch Party Invitations
Invest $1,000 or more: Pour Behavior Silver Card (see below)
Invest $2,500 or more: Pour Behavior Gold Card (see below)
Invest $5,000 or more: Pour Behavior Platinum Card (see below)
Invest $10,000 or more: Free draft beer for LIFE! (1 per day in perpetuity)
Invest $25,000 or more: Name a Table - In order of investment, pick a table to name which guarantees your section for Fri/Sat/Special Events/Concerts (Name to be approved)
Invest $50,000 or more: Complimentary Tasting & Name a Cocktail - Add your story to the menus as a description of the cocktail you name. (Name to be approved)
Key Deal Facts
Versatile day-to-night dining and entertainment experience
Respected founders have proven success in the nightlife, restaurant and hospitality industries
Similar concepts have gained significant traction in major cities like San Diego, Phoenix, Los Angeles and Dallas
Located in Midtown Houston, a neighborhood that's booming with new businesses and residential construction
This investment is secured by a blanket lien on all assets of the business ?
Use of Proceeds
The total anticipated project cost for Pour Behavior is $1 million. The owners have committed $400,000 in equity to date. Proceeds from the NextSeed raise will fund the buildout of Pour Behavior’s multi-functional space. Funds raised above the $200,000 minimum will contribute towards a state-of-the-art A/V setup, the bar system, and furniture and fixtures. The final $115,000 will be put towards working capital for the project.
Competition
- Axelrad - This bar is considered one of the best bars in Midtown. It comes with a hammock garden, large beer menu, and often hosts special events from live music to movie nights and even political events.
- Pub Fiction - Pub Fiction recently renovated its whole interior and exterior making it much more spacious. It is one of the favorite places in Midtown to watch sports events
- Little Woodrow's - Comprised of 3 bars serving beer on tap and well drinks with lines that are rarely to long. Also has a large patio, which is a luxury in Midtown, that comes with tables and cornhole. This bar even hosts turtle races on Thursday nights.
Pour Behavior will be among the first in the area to offer a variety of cocktails on draft, which can be shared among tables and will come with a user-friendly food pairing guide. Guests can also expect a large selection of high-end local beers on tap. Pour Behavior will also offer bottle service for all special events. Differentiation is key to Midtown's bar scene and Pour Behaviors' differentiation comes from the venue itself and its experienced management.
Experience
- Joe Arbeely - Owner of On the Kirb, a successful sports bar in Houston that comes with a healthy menu. On the Kirb opened up in early 2017 and was met with a positive response from customers. Arbeely is also president of the Lumen Lounge, a premier upscale venue in Houston.
- Chase Lovullo - Chase was the owner of Brixx on Washington and V21 in Houston, both of which have since closed. Chase also was behind Proof Rooftop Lounge which was ranked by Zagat as one of the 12 Hottest Rooftop Dining & Drinking Scenes Across the US.
- Roveen Abante - After several software, web and app development ventures, Roveen expanded into the service industry. Starting with an investment in Midtown with Proof Rooftop Lounge in 2014, Roveen opened Lincoln Bar & Kitchen on Washington as a Managing Partner in 2015.
Management Team / Advisory Board Bios
Joe Arbeely, Chase LoVullo and Roveen Abante are three veterans of Houston's nightlife scene that are teaming up to open Pour Behavior. They believe the location in Midtown will continue to be the ideal place to party in the city. The three of them have been friends and partners in other projects for years and could not pass up on the opportunity when they found the location in Midtown. While all three men are known for their nightclubs, their new project will devote plenty of attention to food, too. Pour Behavior will serve a menu of brick oven pizzas, burgers, and bar food for lunch, dinner, and Sunday brunch. Preliminary plans for the beverage program include a focus on draft cocktails.
Deal Notes
- Security: Revenue Sharing Notes
- Offering Amount: Minimum $200,000 to maximum $700,000
- Investment Multiple: 1.50x to 1.60x
- Payments: Monthly
- Revenue Sharing Percentage: Revenue streams will come from food and beverage sales, event space rentals, merchandise, cover and ticket sales. If the final offering amount raised is less than or equal to $350,000, then 3.25% of monthly gross revenue will be shared. If the final offering amount raised is greater than $350,000 but less than or equal to $500,000, then 4.55% of monthly gross revenue will be shared. If the final offering amount raised is greater than $500,000 but less than or equal to $700,000, then 6.5% of monthly gross revenue will be shared.
- Maturity: 48 Months
- Security Interest: Blanket lien on all assets of the business
- Ownership % Represented by Securities: 0%. Investors will not receive any equity interests in the Issuer or any voting or management rights with respect to the Issuer as a result of an investment in Securities.
