Anthony Bourdain, Andrew Zimmern, and countless other culinary masters have said it time and again: Filipino cooking is ready to go mainstream. The problem? Much like our now-beloved Pad Thai, Sushi Rolls, and Chicken Tikka Masala, people simply don’t know how much they love it until they try it.
Arriving with the Zagat-rated success of the first Austin location and helmed by partners Mark Pascual, Giovan Cuchapin and Roveen Abante, this exciting genre of food is certain to become a celebrated facet of the Houston scene.
We wanted to give you a few updates on the project as we head into the final week of our NextSeed fundraising campaign.
Check out our video below & be sure to tell all your friends about Be More Pacific Houston. There is just a little over one week to invest!
-Maraming salamat!
Gio, Mark, & Roveen
Issuer
RUNBMP LLC
Type of Offering
Regulation Crowdfunding
Offered By
NextSeed Securities, LLC
| Offering Min | $100,000 |
| Offering Max | $250,000 |
| Min Individual Investment | $100 |
| Raised to date | $206,400 |
| Type of Securities | Revenue Sharing Note |
| Investment Multiple | Up to 1.4x |
| Revenue Sharing Percentage | 6.75% |
| Maturity | 48 months |
| Payments | Monthly |
| 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. |
| Early Payment Provision | If the Revenue Sharing Notes are paid in full at least 18 months or more prior to Maturity, the Investment Multiple will be reduced in accordance with the terms of the Note Purchase Agreement. Please review the Note Purchase Agreement and "Section I. Summary of Offerings" in the Disclosure Statement, available here, for a complete discussion of the potential reductions. |
| Personal Guarantee | John-Roveen Abante, Giovan Cuchapin and Mark Pascual have provided personal guarantees to investors for this offering. |
| View the Issuer's SEC Form C filing | |
The total anticipated project cost for Be More Pacific is $400,000 - $450,000. The owners have committed approximately $225,000 in equity to date. Proceeds from the NextSeed raise, if the minimum of $100,000 is hit, will be used for interior and exterior build-out of the property including interior finishes, patio deck, kitchen equipment and bar equipment.
Funds raised above the $100,000 minimum will be put towards interior decor, signage, furniture and upholstery, POS system and pre-opening costs such as advertising, menu books/photography, inventory, marketing, etc. for the project.
The owners of Be More Pacific have committed to obtaining any remaining financing necessary to complete the project.
As the international food scene rapidly expands, so too does the American appetite. With a flavorful and layered food profile, culinary experts have long hailed Filipino cuisine as "the next big thing." Despite this prediction, exposure and accessibility to fresh fare from the Philippines has been limited and therefore under-served in the mainstream marketplace. In this pivotal culinary moment, Be More Pacific Houston is poised to deliver the rich tradition of Filipino cooking to the hip and bustling Heights neighborhood of Houston.
First-generation Filipino Americans and native Houstonians Mark Pascual and Giovan Cuchapin were the right people to bring Filipino cooking to the masses. The pair had a hunch that the fresh and flavorful cuisine would hit it big in Austin’s thriving food scene. The results were astounding. What began as a jam-packed food truck soon evolved into a critically acclaimed brick-and-mortar restaurant, with a cult-favorite Chicken Adobo that was named one of Austin's 7 Must-Try Dishes of 2017 by Zagat. The duo’s unique combination of traditional fare and modern sensibilities has finally set a place for Filipino cuisine at the American table.
The Opportunity
In the US, and especially in Houston, Filipinos have a higher population than Korean, Japanese, Thai and Vietnamese. Still, their fresh and flavorful cuisine has been grossly underrepresented and overlooked, until now.
It’s time for Filipino cuisine to claim its rightful place within this thriving global culture.
With a confluence of Chinese, Malaysian, Indian and especially Spanish cooking traditions, the flavors of Filipino food are familiar enough to entice new customers, but complex enough to captivate the seasoned Filipino food fan. As this fare is so underserved, the discovery of Filipino cuisine is primed for expansion into the mainstream.
Having set a successful precedent in Austin, Be More Pacific will establish its presence in the Heights neighborhood of Houston. Now teamed with local business owner Roveen Abante of the Houston hot spots Pour Behavior and Lincoln Bar, the trio is ready to build the next Be More Pacific brick and mortar location in a popular neighborhood in Houston.
Business Operations & Cost-Saving Methodology
Streamlining operations without compromising food quality or service standards is at the forefront of Be More Pacific’s business practices. Having honed these areas at the Austin location, a well-oiled operations protocol will be seamlessly integrated at the Houston restaurant. Every detail from management, to food preparations, to service has been assessed from an operational point of view in order to implement the most cost-effective methods available.
Revenue Streams
In addition to regular dining service, Be More Pacific Houston will offer several other specialty elements and services to enhance the overall revenue stream. The addition of a full bar and patio will serve as a both a complement to the cuisine and a standalone revenue stream.
The Menu
Familiar enough to enjoy right away, yet exotic enough to leave a lasting impression, Filipino food is the product of Malaysian, Chinese, Indian, and Spanish flavors and cooking styles. Made by hand using traditional methods and family recipes, the menu at Be More Pacific Houston will feature all of the celebrated dishes of the Austin location, with a few new additions.
The Atmosphere
Distinguishing itself from mom and pop Filipino restaurants, Be More Pacific Houston will transform the established concepts away from the traditional buffet into a lively and modern dining experience. The bar and outdoor dining area of the Houston location will maintain the relaxed, tropical vibe of the Austin location and also incorporate fresh industrial design elements facilitated by architect John Tsai of JT ARC Studio.
The Team
With Mark Pascual, Giovan Cuchapin, and Roveen Abante leading the way, Be More Pacific Houston will enrich the community by adding an important piece to a diverse neighborhood puzzle.
As both first-generation Filipino Americans and native Houstonians, Mark Pascual and Giovan Cuchapin possess a unique understanding of both traditional Filipino cuisine as well as a personal and intimate knowledge of the Texas restaurant scene.
Giovan worked his way up the ladder from dishwasher to general manager in order to develop a sharp understanding of restaurant operations, while Mark’s background in business development and project management brings a level of entrepreneurial passion to their project.
As Houston natives, the partners share a desire to contribute to the culture of their city and to bring their beloved cuisine to the masses.
In addition, Chef Salvador Melgarejo will help with training staff in the kitchen. Chef Salvador was born in California and moved to the Philippines at the age of two. His mother owned a catering business in the Philippines and growing up he was taught to cook traditional Filipino cuisine.
Brian Casipe who serves as the General Manager at Be More Pacific Austin, will also help with training during the opening of Be More Pacific Houston. Brian is a first-generation Filipino American who has over 10 years experience in restaurant management, with past experience at Japanieros, Guru Burgers & Crepes, and Ginger Mule.
Established in 1890, the Heights was Houston’s first “planned” community. It has since grown to include some of the city’s best restaurants, independent shops, nightlife, and family-friendly activities with nearly identical demographics as the successful Austin location. Brimming with energy, authenticity, and diversity, the Heights is the ideal spot to create a culinary home reflective of the spirit and flavors of the food itself.
Mark worked as a project manager in commercial and audio visual installation before founding the Be More Pacific Food Truck in 2011 with business partner, Giovan Cuchapin. After 6 years, the pair opened Be More Pacific Filipino Kitchen and Bar in Austin. Mark holds a degree in Economics from the University of Texas at Austin.
Giovan started as a dishwasher at Fuddruckers and then worked his way up from server to General Manager at Mama Fu's, consulting troubled restaurant operations in Florida shortly thereafter. He joined Mark Pascual in 2011 to create the Be More Pacific Food Truck before opening the Be More Pacific Filipino Kitchen and Bar in Austin in 2017.
Roveen and Jan Abante are the husband and wife team behind Longhorn Capital Group, LLC. Together they founded Proof Rooftop Lounge and Pour Behavior in Midtown, Lincoln Bar on Washington Ave, and Understory Bar at Capitol Tower.
Roveen began his career in sales and marketing within technology, IT, nightlife, and hospitality before starting a software development company which he later sold. Jan Abante specializes in in process improvement, accounting, and logistics - and is the manager of Sunny Flea Market, a family business running for 40 years and one of the largest in the US.
Roveen and Jan met at the University of Texas at Austin where Jan earned a degree in economics and Roveen earned a degree in natural sciences with a certification in business. They have two children together.
Bonus rewards are offered by the Issuer purely on a voluntary basis and do not influence the terms of the Offering. For the avoidance of doubt, the bonus rewards are not contractual conditions governed by the Note Purchase Agreement and are not enforceable under the Note Purchase Agreement.
How do Revenue Sharing Notes work?
See our infographic for a detailed explanation here.
1The investment multiple may be reduced if the investment is repaid early. Review the early payment provisions outlined in the Disclosure Statement found here.
2Payments begin after the first full month the business is open and operating. Payments end when the business pays you back your total payment, or upon the maturity date, whichever is earlier. If any amount remains owed to investors on the maturity date, the Issuer will be required to promptly pay the entire outstanding amount owed. The exact length of time that it will take the Issuer to pay each investor in full cannot be known in advance since the Issuer's actual revenues may differ from its projected revenues.
3This offering has a minimum investment amount of $100.
4There is no guarantee that the Issuer will ever produce revenues, or that such revenues will be sufficient to repay the note in full prior to the maturity date. Investors risk losing part or all of their investment. Please review a full discussion of the offering’s risk factors in the Disclosure Statement found here.
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