$440,800 invested

134

Investors

19

Payments Made

Funded on NextSeed TX

Revenue Sharing Notes ?

Multiple 1.75x
Maturity 48 months
Minimum Target $250,000 ?
View Key Terms

Chapman & Kirby

Houston, TX

  • Projected first-year revenue of over $5 million
  • All-star management team with over 40 years of industry experience
  • One-of-a-kind venue situated in EaDo, the next biggest growth pocket in Houston
  • Enrolled in the NextSeed Payment Automation Service
  • This investment is secured by a blanket lien on all assets of the company

Investment Details

$440,800 invested

134

Investors

19

Payments Made

Funded on NextSeed TX

Revenue Sharing Notes ?

Multiple 1.75x
Maturity 48 months
Minimum Target $250,000 ?
View Key Terms

Company Description

Chapman & Kirby will be a gastrolounge concept and premium event space located in East Downtown Houston. The business is named after the founders of Houston (brothers Augustus Chapman Allen and John Kirby Allen) and its design, menu and concept draw inspiration from the city’s rich history of growth, struggle and resilience. Chapman & Kirby’s management team comprises four accomplished entrepreneurs with over 40 years of combined experience in owning, operating and leading food & beverage development for high-profile restaurants, bars and event venues located throughout Greater Houston. These businesses include Rich's, EscoBar, Mi Luna, Saint Dane’s, Christian’s Tailgate, Hughes Hangar and The Astorian.

Chapman & Kirby will be an anchor tenant in a new 60,000 square foot mixed-use project called East Village in Houston’s edgy East Downtown. East Village will transform 2 blocks of East Downtown into a pedestrian-friendly urban office and entertainment mecca. For more details, see the Location Analysis section below.

With over 9,000 square feet of space (including a 1,000 square foot outdoor terrace), Chapman & Kirby is designed to transition seamlessly from a daily lunch and dinner spot to a festive evening and weekend destination. It will also serve as a high-end venue for corporate and private events.

Renderings presented in this offering may not reflect the final design of Chapman & Kirby.

Offering Summary

Issuer
Eado Enterprises Group LLC DBA Chapman & Kirby
Entity Type
Texas limited liability company
Principal Office
Current office address:
2313 Edwards Ste. #170
Houston, TX 77007
Post-construction business address:
2118 Lamar Street
Houston, TX 77003
Securities
Revenue Sharing Loan Agreements
Offering Amount
Minimum of $250,000 and maximum of $700,000
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.

Use of Proceeds

The Issuer is raising a minimum of $250,000 and a maximum of $700,000 on NextSeed to help finance the build-out of Chapman & Kirby and for initial working capital.

Key Terms

Minimum Investment
$100
Maximum Investment
Accredited investors: No limit
Non-accredited investors: $5,000
Investment Multiple
1.75x
Investors will each receive in the aggregate 1.75x their original investments, as a result of being paid their proportionate shares of the Issuer’s gross revenue on a monthly basis.
Revenue Sharing Percentage
Each investor participates in both tiers:
Tier 1
3.0% of the first $225,000 of each month’s gross revenue
Tier 2
20.0% of each month’s gross revenue exceeding $225,000
For a detailed example, see the Revenue Sharing Summary below.
Startup Period
5 full months following the closing
Payments
During the Startup Period, the Issuer will not make any payments. After the Startup Period, the Issuer will make monthly payments based on the relevant revenue sharing percentage.
Maturity
If any balance remains 48 months after the closing (commencing with the first full month after the closing), the Issuer is required to promptly pay the entire remaining balance to the investors.
Security Interest
The Issuer will grant a security interest in all of its assets in favor of NextSeed for the benefit of the investors to secure the Issuer’s obligations under the Securities.

Total Payment Calculator

Principal Investment Multiple Maturity* Total Payment
1.75x 48 months $175

This investment has a startup period during which no payments will be made. The first payment is not due until after the fifth (5th) full month following closing.

*The Issuer expects to pay each investor in full before maturity. However, 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. If any balance remains outstanding on the maturity date, the Issuer will be required to promptly pay the entire outstanding balance due to each investor.

Revenue Sharing Summary

Beginning after the 5th full month following the closing, the Issuer will share the following every month with the investors as a group until they are paid in full (each investor participates in both tiers):

Tier 1 revenue sharing
3.0% of the first $225,000 of each month's gross revenue
Tier 2 revenue sharing
20.0% of each month's gross revenue exceeding $225,000

EXAMPLE:

Gross revenue in month X
$350,000
Tier 1 revenue sharing
$225,000 x 3.0% = $6,750
Tier 2 revenue sharing
$125,000 x 20.0% = $25,000
Total revenue sharing
$6,750 + $25,000 = $31,750

Investor A invested $5,000 of the $500,000 that was raised, so Investor A is entitled to receive 1.0% of the $31,750 shared with investors for month X. Therefore, Investor A is paid $317.50 for month X.

The example above is an illustrative example only and may not reflect actual performance.

Bonus Rewards

Invest $100 or more

  • Invitation to Chapman & Kirby Launch Party

Invest $500 or more

  • Invitation for 2 to the Chapman & Kirby Launch Party
  • $50 Gift Certificate

Invest $1,000 or more

  • Invitation for 2 to the Chapman & Kirby Launch Party
  • $100 Gift Certificate

Invest $2,500 or more

  • Invitation for 4 to the Chapman & Kirby Launch Party
  • The Chapman & Kirby Silver Card

Invest $5,000 or more

  • Invitation for 6 to the Chapman & Kirby Launch Party
  • The Chapman & Kirby Gold Card

Invest $10,000 or more

  • Invitation for 10 to the Chapman & Kirby Launch Party
  • The Chapman & Kirby Black Card

Invest $25,000 or more

  • Invitation for 10 to the Chapman & Kirby Launch Party
  • The Chapman & Kirby Black Card
  • Dedicated Bottle Locker (permanent)

Invest $50,000 or more

  • Invitation for 10 to the Chapman & Kirby Launch Party
  • The Chapman & Kirby Black Card
  • Dedicated Bottle Locker (permanent)
  • A Cocktail named by you and listed permanently on the menu

15% off all food purchases and VIP entry (line skipping) for you + up to 3 guests on lounge nights (Fri/Sat)

20% off all food purchases and VIP entry (line skipping) for you + up to 5 guests on lounge nights (Fri/Sat)

25% off all food purchases and VIP entry (line skipping) for you + up to 9 guests on lounge nights (Fri/Sat)

Business Model

Chapman & Kirby will be open for lunch and dinner seven days a week, and the bar will be open all week into the evenings to provide an upscale, relaxing experience for its patrons. Conveniently located in East Downtown, Chapman & Kirby will be able to serve the downtown business crowds as well as the increasing residential community in East Downtown. The goal is to provide a diverse array of customers with a beautifully designed space for meetings and getaways at all times of the day.

On Friday and Saturday evenings, the venue will be flipped into a chic lounge to host Houston’s nightlife scene. Various Midtown bars and nightlife venues that are currently popular in Houston are less than two miles away, and the Chapman team believes that Chapman & Kirby can anchor a growing movement towards East Downtown.

The space at Chapman & Kirby will also be designed to host private social events and corporate gatherings. The Chapman team's experience in developing and managing private event spaces like Hughes Hangar and The Astorian informs its ability to leverage the design and flow of Chapman & Kirby’s physical space to best serve this growing market.

Houston recently surpassed New York City as the most diverse city in America, with more nations and ethnicities represented than in any other city in the country. The Chapman & Kirby food and beverage menu will celebrate the cultural depth and heritage of Houston, while also striving for a wholesome, close-to-farm concept.

Here is a sampling of what will come to your table:

  • Lobster tamale, steamed and served with salsa swissa
  • Pork belly chicharone, seasoned with Tajin and served with salsa verde
  • "Wow Bao," a steamed hand-held dumpling stuffed with pulled Peking duck
  • Bell & Evans organic chicken tikka masala
  • Pizzette flat bread with chicken and shrimp pad thai
  • Pho noodle soup with shaved ribeye steak

Location Analysis

Chapman & Kirby is scheduled to open at 2118 Lamar Street (as marked in the neighborhood map below) in September of 2016, as an anchor tenant in a new 60,000 square foot mixed-use project called East Village in Houston’s edgy East Downtown. East Village will contain several other food & beverage options, as well as office space and some non-traditional hospitality offerings. Pernod Ricard’s Our Vodka subsidiary has announced plans for a micro-distillery and tasting bar in East Village. Houston’s Three Square Design is scheduled to take 10,000 square feet of office space over 20,000 square feet of retail space in the first phase of the project as well.

The proposed location is situated in close proximity to several Houston landmarks that draw significant crowds to the neighborhood (approximately 18.3 million unique visitors to Downtown Houston annually), such as George R. Brown Convention Center, Toyota Center, Minute Maid Park and BBVA Compass Stadium.

Leadership

Hoang "Juan" Cao, Partner

Juan Cao is a serial entreprenuer who is renowned for his skills as a designer, concept creator and builder of unique venues. He co-founded Hughes Hangar, and was responsible for developing the concept and design for the highly successful bar and event space. He also created The De Gaulle (named after Paris's international airport), which was inspired by historical Paris and its trademark decadence.

Seeing the demand for Hughes Hangar as an event space, Juan later left to create his latest project - The Astorian. With The Astorian, Juan drew inspiration from 1920's glamour and Grand Central Station in Manhattan. Since launching in March 2015, The Astorian has hosted some of Houston's most spectacular high-profile events.


Mazen Baltagi, Partner

Mazen Baltagi is a successful entrepreneur with 17 years of experience in the service industry. After obtaining an Electrical Engineering degree at the University of Houston, Mazen owned and operated several high-volume and popular local establishments in Houston such as Rich's, EscoBar, Mi Luna, Saint Dane’s and Christian's Tailgate.

Mazen is known for his ability to consistently identify and acquire underperforming businesses, significantly improve operations and turn the businesses around for profitable exits. He was able to successfully reinvent the customer's experience at Rich's, Escobar and Mi Luna, resulting in the revitalization of all three establishments.

He has continued to own and operate Saint Danes, and has expanded Christian's Tailgate to five locations around Houston.


Steven Bien Tran, Partner

Bien Tran obtained his Juris Doctor at Duke School of Law. He started his career as a litigator at Fulbright & Jaworski LLP and operated his own law office prior to joining Bush & Ramirez L.L.C.

Bien co-founded Hughes Hangar in 2011 to much acclaim, and remained the managing owner of the iconic venue through early 2015. Not only is Hughes Hangar a regular location for happy hours, drinks and celebrations, it has evolved into a much sought after venue for corporate events and private parties as well.

Bien is also active in the community. He previously sat on the Board of Directors for the Vietnamese Chamber of Commerce in Houston and the Board of Directors of the Bayou City Arts Festival, the largest art festival in Houston (has been ranked in the "Top 10 Festivals in America" by national magazines and has raised over $2.5 million for charity).


Tim Soufan, Partner

Tim Soufan brings more than 25 years of experience in the restaurant and hospitality industry. Tim received his Grand Diplome de Cuisine from the Cordon Bleu Culinary Institute in Paris, France.

He started his career at the famed Royal Monceau Hotel in Paris, France. When he moved to Texas in the early '90s, he became the Corporate Executive Chef for Pappas Restaurants in Houston where he was responsible for menu development. He has since spent most of his career in executive roles and as the head of Food & Beverage for such household names as Denny's, TGI Fridays, Not Your Average Joe's and Romano's Macaroni Grill.

In his most recent endeavor as the Senior Partner of Food Think, he has developed a food & beverage agency that consults with brands and businesses of all sizes. His areas of specialty include new concept development, operational processes, labor allocation, cost management and ingredients optimization. Current clients include the likes of Zoe’s Kitchen, Zinburger, Brew Detroit, Tortilla Ranch Mexican Grill and Big Boy Restaurants.

Tim was recognized as one of the Top 50 Tastemakers by Nation's Restaurant News, and has been recognized by the US National Restaurant Association and Food Art Magazine over the years with various awards.

History

November 2015
Four partners officially form Eado Enterprises Group LLC DBA Chapman & Kirby
Letter of Intent is signed for property lease
January 2016
Lease finalized for Chapman & Kirby
Architecture renderings finalized and submitted to the City of Houston for approval
March 2016
Required permits expected to be approved by the City of Houston
Construction and build-out expected to begin
September 2016
Chapman & Kirby expected to be open to the public

August 20, 2017

Go, Gatsby, Go.

“And it appears the city approves of Chapman & Kirby, too”. Thank you for featuring us, LocalHouston!

April 27, 2017

Almost Open For Business

We had a great time hosting NextSeed’s Next Up | The EaDo Edition on April 13th.

We wanted to update you on our projected opening date, which is in mid-May. We’re waiting for the final permits to pass and then we’ll be good to go!

Here are a few photos from the event:

February 9, 2017

NFL Success!

We had a great time hosting the NFL Media party this past weekend and can’t wait to officially open to the public in March!

January 12, 2017

Bring on the Super Bowl!

Construction is going well. We’ve poured our concrete roof and our main entrance is 90 percent finished.

We’ll be hosting the official NFL media dinner on February 4th in our raw space. We’re very excited about the PR opportunity of having this event at the venue. After that we’ll be closed for a month, completing finishing touches and hiring and training our team.

We are currently on schedule to open to the public in March. Here are a few pictures of our progress!

November 30, 2016

Construction is Underway

Construction is progressing well. By next week all the plumbing and electrical work will be done, the roof is up and the team will turn their focus to the interior buildout soon.

With the construction progressing well, we will be ready to host events for the Super Bowl. We are currently running for the NFL Media Party bid, which is one of the biggest events of the week and would get us a lot of media coverage. After the Super Bowl we’ll do a little final construction on the finishes and fixtures.

Upon completion we’ll be hosting a soft launch of the restaurant at the end of February with an official grand opening in early March.

September 2016

New Launch Targeted for January

There have been some construction surprises along the way, but the major hurdles are behind us. We’re optimistic about the road ahead and are as excited as ever to bring Chapman & Kirby to life in time for Super Bowl!

Chapman & Kirby construction

July 2016

Full steam ahead

It’s July, and we have more news to share.

We’ve added a rooftop patio to the plan. We’re thrilled with this new addition! It allows us to maximize the incredible location and adds something special to the Chapman & Kirby experience.

The big news is that we just received our own permits. Things are kicking into high gear with our construction timeline, so stay tuned. We can’t wait to show you the progress as we build out the space.

– Bien, Juan, Mazen, and Tim

ouck02

March 28, 2016

Crushed it.

Chapman & Kirby soared past its minimum and raised a total of $440,800 from 134 investors! Thank you all for your support, and we hope you are as excited as we are to bring this unique concept to EaDo!

ouck01

January 15, 2016

Chapman & Kirby launches!

Chapman & Kirby launched its NextSeed campaign to raise a minimum of $250,000 to create a new gastrolounge in Houston’s up and coming EaDo district!

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