Restaurant Startup – Stream Full Seasons Free on Peacock

published on July 17, 2020

In the culinary world there are always innovators with new ideas and products but turning a dream into a reality requires money lots of it now they'll have the chance to get both funding and guidance from two of the industry's heaviest hitters Joe Bastianich is one

Of the country's culinary Giants by combining great food with smart business he's created an empire that includes 30 restaurants co-owns eataly a high-end Italian market and two best-selling books we're not here to

Teach you we're here to make an investment that this was school he'd be paying us coition Tim love is a celebrity chef and master of urban Western cuisine he owns five award-winning restaurants

Throughout Texas and as his own retail empire of rubs sauces and cookware I'm a food guy tell me how you make the friggin food hundreds of culinary entrepreneurs and dozens of categories presented their concepts each week two

Of the most promising get an audience with Joe and Tim we are bacon bacon we are cracking kanji pasta made from chickpeas the team with the most potential to make big money will get $7,500 and 36 hours to beef up their

Brand refine their business plan answer in this empty space into their dream restaurant and they'll do this with the help of Joe and Tim's consultant waylynn Lucas is that really a half-a-million-dollar

Effort she's a pastry chef turned entrepreneur who built her own brand around the unique concept of baked Donuts with all the money coming from their own pockets Joe and Tim call all the shots is it gonna happen 15 minutes

I'm the guy that believed in you guys they might compete for a concept what's the deal in your offer actually put me on my heels it's a pretty aggressive offer make no offer at all obviously you were very far apart so therefore I'm out

Or even invest together this dream has a finally comes true this is restaurant startup exotic ethnic flavors have never been hotter so this week Joe and Tim will here pair of pitches a little-known dish from the Far East and a variation

On a popular middle-eastern staple all right let's see what these guys got up first crack and congee three line cooks from Seattle Washington who believe they have a formula to bring a little-known Asian rice dish into the mainstream

cracking kanji is the next big thing All in One Bowl well we're free line cooks from Seattle we're in the back of the house you never see us

My family is relying on me I want to bring it home to them having somebody invest in cracking congee is Nev next step I think in all of our careers you don't get this opportunity very often we're ready to take it what do you got

Hi I'm Garrett Daugherty I'm Shane Robinson I'm rebel Tonya and together we are cracking kanji kanji is basically made of rice water onions garlic and ginger congee for me is very special born and raised in the Philippines I

Think about my grandmother night she would essentially take one cup of rice and be able to make enough congee to feed my entire family cracking congee is a hip new twist on rice porridge just like sushi took America by storm and pho

Has become more popular we're confident cracking congee can be the next Asian of food sensation we'd like you to share in our future success we want three hundred and fifty thousand dollars for 20% of our company our end goal is to open up

Our own brick-and-mortar so we can serve congee every day not just once a month and with your help and money we would like to release the Kraken here's nothing let's try the food all right yeah proofs in the pudding here

Litter literally anything closest to you guys you have the Lou Gow with pork belly adobo and back you have the crab curry congee with fried soft-shell crab and this is the jasmine rice yes

What's this white creamy sauce on top so cumin 1 C aioli just to kind of give it a little sour punch and jazz wow I always say in the food world we need fat acid and salt both these have that taste great it's a very complex and good dish

And really kind of the opposite of what I was thinking when you told me you're gonna give me rice porridge right it's clear that you guys can cook but we're not here to hire cooks though we're trying to invest in a business right

Who's in charge of the business here for the couple puffs we've done I've I've kept controlled the finances with it I'm responsible for all the buying and getting everything to the venue as of right now just to cook your response

Will be from the Philippines responsible for you leaving so when you do the pop-up do you sell out the first pop-up we sold out in two hours we had a line out the door so his crack and kanji ever put a dollar in any

Of your pockets yes how much is it made 18,000 how much money have y'all all put together five thousand dollars over the course of the a pop up so you're not making any Bank on this right now that doesn't sound like it's been very

Successful how do you define success you're not making money you do a pop up eight times that's success for you we never lost any money you've got a successful response yes let's talk about this brain let's talk about this

Cracking thing it reminds me like talking about somebody's ass I mean what's cracking crackin well it's a mythical figure that the Kraken and Clash of the Titans I don't know like but everybody knows it from you got two

Guys right here that potentially gonna give you $350,000 I have no idea what the hell it is no logo it's phallic and vaginal all at the same time yeah if we're gonna put real dollars into this thing we want something that's a little

Bit more identifiable okay what I need to know is we build this great food but how do you turn that into a restaurant we wanted this to be a really hip modern place that sounds like trendy to me which is the disaster for restaurant we

Give you 350,000 tell me how you're spending the money well we purchase event venue okay so how much you allocating that that's my mast $150,000 okay then 70 days $5,000 – okay space 220 keep going we wanted three to six

Months of back up capital three or six six okay six months in the bank is what well operating capital would be $125,000 so that's three hundred forty five thousand and then we also have inventory which is I think $40,000 what's the top

Line how much money is coming into a year about 700 year 700 thousand a year you're valuing the restaurant at 175 million and you're telling me it's only gonna gross 700,000 this is a starting point I know but you this is a startup

I'm not gonna invest $350,000 to get 20% of a restaurant that you value at 17 million it only brings in 700,000 are you putting any money in it ah you guys get any money in it no you up a zero in it do the circle math there I'm really

Good at math now that circle never connect plus you know commerce without margin is a hobby and I'm not interested investing your hobby so here's yeah we got a lot to think about so

What you guys go on your way thanks so much thank you see thank you it's your classic three line cooks trying to surface next Romi's falafel fusion three friends from Portland Oregon seek funds for their spin on a middle-eastern

Classic falafel I used to work for a big retail company I managed six million dollar stores but my passion was to cook I left my job I started falafel fusion I put a lot of money into the business and that was a huge risk our food is the

Best and I say that with confidence because no one else is doing this if they invest in us they'll make money this was all about for them this is my future that's on the table here okay what do you got

Hi I'm Romy almonds I'm Christopher Kari now I'm Matt how to get in together we are Romi's falafel fusion it's a food cart company out of Portland Oregon and right now we have two food carts and we're looking for a brick-and-mortar

We're asking for $250,000 for 15% of equity in the company in 1970 falafel became something that's very popular in the us we looked at all the falafel that's in the market it's all made with chickpeas or garbanzo beans very fatty

And has a lot of calories so we you as fava beans instead of the chickpeas it's a third of the fat and a third of the calories meaning that it's a much leaner much healthier option our hope is that we have the whole country saying you'll

Never feel awful when eating falafels so when I was 17 me and my family moved here to the us from Egypt we were seeking a better life and follow the American dream if you guys help us out I'll be able to get that dream to become

True and make my grandmother proud and when I get super rich I'll do now so who wants to partner with us to make the world healthier and more fun we want to make money primarily let's taste this is the food here let's start with the

Number one thing so this is a falafel burger correct it's a brioche bun with a falafel patty pico de gallo and then we have a fusion quesadilla caramelized onions

Caramelized cremini mushrooms and then we fried the falafels we smash them and we put them in there so you got like Mexican Greek exact middle-eastern rekt the exterior has a good crispness to it the interior like it reminds me of

Quinoa almost what do you think of the what are you calling it a quesadilla yeah quesadilla well I mean I love quesadillas honestly I think that's a really good one it's it's freaking it's pretty full flavored thank you

She looks good is good the first good guy tell us about your cash flow close by your business so last year we did $320,000 okay what was your profit for you it doesn't know Romney no offense for that margin sucks especially the

Cart in my opinion should be bringing 35% to the bottom line and so 15 cares me a little bit it's it's because it when it's new business okay this has nothing to do with what the margin I'm gonna be frank I didn't know anything

About the food business you know when I when I got in the food cart for six months I worked 22 hours a day i sat in front of all the successful foot cards Helen how many people walked through the door I came out was average what like

You know when it rains or doesn't rain I came up with an average year lowest and and way guys we got to go we got to go get her a t-shirt a $50,000 a lot of money so we got to make sure you guys are confident what you're doing I think

The biggest problem I have this whole pitch is branding well I like Romney in front of me more than Romney right on the logo what's going on with this logo a name with this logo I mean it's it's very Portland right it's a flat image

One of the first ideas we worked on was good gets very flat yeah yeah that's not a compliment go ahead what I mean I watched Portland yeah but you know what we don't want to have one store so we're not concerned

About for everybody nice like the logo that's on that yeah it's gone all right guys thank you very much thank you thank you we have a tough decision to make that's exactly right

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