Highlights

Taco enthusiasts, rejoice! The Cinco TacoBar team ("Cinco") puts more than just a fresh spin on the traditional Mexican taqueria. Cinco prides itself on its delivery of old-world recipes packed with distinctive spices and quality ingredients in a vibrant, inviting and meticulously clean dining experience.

Next generation taco bar in the East Bay, with hand-pressed tortillas and "make your own" margarita bar
Opening 2nd location with projected first-year revenue of over $2 million
Strategic partnerships with retail giant Kimco Realty and celebrity restauranteurs Octavio Guzman and Alfonso Guzman
This investment is secured by a blanket lien on all assets of both locations

Investment Terms

Issuer
Vive! Restaurant Group Livermore, LLC

Type of Offering
Regulation Crowdfunding

Offered By
NextSeed US LLC

Offering Min

$150,000

Offering Max

$200,000

Min Individual Investment

$100

Type of Securities

Revenue Sharing Note

Investment Multiple

1.7x

Investors will each receive in the aggregate 1.7x 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

Up to 9.5%

Maturity 48 months, including a 1-month startup period for ramp up
Payments

Monthly

Security Interest Blanket Lien
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.

View the Issuer's SEC Form C filing

Use of Proceeds

100% of the proceeds will be used for a full renovation and build out of the interior space (including a new bar and electrical work), a redesign of the exterior facade and working capital.

Capital raised in excess of the minimum will be used for additional working capital for the first year of operations.

Company Description

Taco enthusiasts, rejoice! The Cinco TacoBar team ("Cinco") puts more than just a fresh spin on the traditional Mexican taqueria. Cinco prides itself on its delivery of old-world recipes packed with distinctive spices and quality ingredients in a vibrant, inviting and meticulously clean dining experience.

Cinco serves its customers a customizable burrito, taco, or bowl that’s served with uniquely authentic Mexican spices and produce, all on hand pressed tortillas, made to order! Its passionate team is focused on streamlining the experience and ordering process without cutting corners on an incredibly tasty and nutritious meal.

The menu also includes a select number of specialty dishes and sides, balanced with an assortment of mouthwatering Michoacán-inspired sangrias and beverages.

The first Cinco TacoBar location (Vive! Restaurant Group, LLC or "Cinco 1") opened in San Leandro in September 2016. Within 3 months of operations, Cinco 1 has already generated positive cash flow and is poised for over $1 million of revenue.

The second location (Vive! Restaurant Group Livermore, LLC or "Cinco 2") will benefit from the positive momentum and seating and parking areas over twice the size of the original space. An improved menu will include additional alcoholic beverage options, specifically an innovative MargaritaBar (make your own margaritas!) concept that’s newly added for Cinco 2’s larger footprint.

Cinco TacoBar was founded by William Bonhorst and Silvano Hernandez. With a combined 25 years of entrepreneurial experience in the food service and hospitality industry between them, they bring a focus on operations and business savvy that is on pace to drive profitability in the business within its first year.

The team is also supported with strategic partnerships that lend a hyper-local advantage in the SF Bay Area that is markedly unique to Cinco TacoBar.

Industry veterans Octavio Guzman and Alfonso Guzman support the team as mentors and with menu and recipe development. The brothers are the founders and owners of the highly successful La Penca Azul and La Piñata Mexican Restaurant & Tequila Bar chains of restaurants, bringing over 50 years of domain experience to the business.

Further, Cinco has a strategic partnership with Kimco Realty, one of the largest commercial real estate operators in the country. Cinco’s first location was launched in a Kimco property in San Leandro. The landlord is committed to Cinco and will help the business develop and source the best portfolio locations for its growth throughout the San Francisco Bay Area.

The public reception has been highly positive from local media, and Cinco has also built a solid foundation on various social platforms. After just three months in operations, searches for “Tacos” and “Mexican food” in the East Bay (San Francisco, CA) on Yelp both return Cinco TacoBar as the top recommendation.

Business Model

Cinco 2 will be open seven days a week, serving a unique menu of Mexican cuisine for both lunch and dinner.

Cinco’s build-your-own and customized menu is streamlined for speed and efficiency. The restaurant also offers a unique selection of additional dinner plates and sides, as well as authentic and regionally-inspired beverages such as horchatas, sangrias, and agua frescas.

The team anticipates that Cinco 2 will earn 40% gross margins on protein rich food and 45% to 80% on non-protein products and drinks offered by the business.

With its first strategic location, the team has been able to build excitement in the concept and establish a foundation on which to expand. Cinco 1 has exceeded the team’s initial forecasts. With only 800 sqft, the restaurant has been able to produce an impressive $95,000 in monthly revenue without alcohol sales. Cinco 2 will be twice as large and supports a surrounding neighborhood with a higher average household income.

Additionally, Cinco 2 is adding a new "Make your own Margarita" bar to provide a fun, new option for its customers while also supporting its revenue efficiency.

Fun efficiency fact (monthly revenue per square foot):

  • Habit Burger: $58.33
  • Chipotle: $80.25
  • Shake Shack: $94.75
  • Cinco TacoBar: $99.83

The Cinco TacoBar team forecasts over $2.5 million in average annual revenue for Cinco 2.

The business’s cost structure is also streamlined through its strategic relationship with successful Bay Area concepts La Penca Azul and La Piñata brands. Owners Octavio and Alfonso Guzman support the Cinco TacoBar team with their 40+ years of successful restaurant industry knowledge. However, the support extends far beyond the intangibles. Cinco TacoBar has been extended the collective purchasing power of the 10+ Bay Area restaurants of La Penca and La Piñata brands. Additionally, Octavio has had a hand in crafting and optimizing the recipes for Cinco, lending his decades of expertise directly to the team.

Cinco 2, the second location, is the only entity offering and selling securities through this campaign. However, Cinco 1 and Cinco 2 are both granting first liens on their assets to secure Cinco 2’s obligation through this campaign.

Location Analysis

Cinco TacoBar will be operating two separate locations in the San Francisco “East Bay” region.

Cinco 1 (Vive! Restaurant Group, LLC) first opened its doors in September 2016 at 15100 Hesperian Blvd, San Leandro, CA 94578. Sales have been robust since launch, with initial monthly revenue nearing $100,000. Its small footprint (800 sqft) makes the large revenue figures even more impressive.

Cinco 2 (Vive! Restaurant Group Livermore, LLC) is also located in a Kimco Realty property, continuing the business’s relationship with the large commercial real estate partner. It is located at the corner of First St. & Las Positas Rd in Livermore, CA. This property is a 104,465 square foot commercial retail center located off of Highway 580. The center, located in an affluent residential community of the Bay Area, includes nationally recognized anchors and a strong tenant mix. Tenants include Target, TJ Maxx, Big 5 Sporting Goods, and FedEx Office. A Shell gas station is also directly adjacent to the space, providing additional traffic.

The larger footprint (over 2,000 sqft) in Cinco 2 allows for plentiful seating and a full margarita bar to support larger revenue goals. Also, the unit is positioned in a corner location where a previous Taco Bell had operated for many years. The prior tenant vacated because of the lack of a drive thru, leaving behind a great space and a kitchen and infrastructure that’s perfect for Cinco TacoBar’s operations.

Founded in 1869, Livermore is one of California’s oldest wine regions, marked by award-winning wineries, farm lands and ranches that mirror the valley’s western heritage. The City of Livermore is the easternmost city in the San Francisco Bay Area. Insulated by the coastal range, the Livermore Valley boasts a mild climate that enhances the relaxed lifestyle enjoyed by its residents. In close proximity to renowned science and technology centers, Livermore itself is also a technology hub with an academically engaged community. It has become an integral part of the Bay Area, successfully competing in the global market with its wealth of research, technology and innovation.

Within a one-mile radius of Cinco 2, the median income is approximately 197% greater than the national average, and average expenditures are approximately 135% greater than the national average. The median age is slightly lower than the national average with total population steadily increasing. (Piinpoint)

The green flags in the map below represent other Mexican restaurants in the area.

History

September 2016
Cinco 1 opened in San Leandro, CA
January 2017
NextSeed campaign launched
Est. July 2017
Cinco 2 to open in Livermore, CA

Meet the Team

Image not found!
Silvano Hernandez
Co-founder

Silvano has fifteen years of experience in the food and restaurant industry. He has spent nearly his entire career helping to build and grow the La Penca and La Piñata brands in the Bay Area, and he’s taken on almost every front-of-house and back-of-house role. He got an early start bussing and waiting tables, bartending, working the kitchen as an aid and prep and chef, and eventually began managing one of the Bay Area’s busiest restaurants with 72 employees and annual sales of $4.8 million. His expanded role as Marketing Director also helped develop a new area of expertise and continue supporting La Piñata’s growth.

Silvano prides himself on the route he’s taken, giving him a unique set of skills to succeed in an ownership role. His innate curiosity and energetic personality drive him, both as an entrepreneur and proud father. Silvano is a self-proclaimed tequila and mezcal connoisseur, a “taco snob,” and a certified mixologist.

Image not found!
William Bonhorst
Co-founder

Before launching Cinco TacoBar, William built a career in hospitality and service companies. His experience ranged from heading up HR for a startup in mobile app development to handling a portfolio of services for a Fortune 500 corporation. William has managed organizations of various sizes, allowing him to a develop an aptitude for creating and managing processes with people, operations, and analytics. This has translated directly into Cinco TacoBar’s strong operational efficiency and relentless focus on the bottom-line.

William’s educational background includes a BA from California State University Los Angeles and an MBA and SCPM from Stanford University.

Image not found!
Octavio Guzman & Alfonso Guzman
Mentors

Octavio and Alfonso are the brothers and co-owners of La Penca Azul and La Piñata brands. These restaurateurs have generations of industry knowledge, and they have expanded their scale to 10+ locations over the past thirty years.

Octavio Guzman has helped Cinco TacoBar construct a scalable menu that is both delicious and highly efficient. He’s also a celebrity chef for the Golden State Warriors.

Bonus Rewards

Early Bird Reward
0 remaining
First 50 investors who invest $500 or more will receive:
  • $25 Gift Card
Invest

$100+

  • One Free Entree
Invest

$500+

  • $25 Gift Card
  • Two Free Entrees
  • Investor Black Card: First Friday of each month, first drink is on us (forever!)
Invest

$1,000+

  • Two Free Entrees
  • Investor Black Card: First Friday of each month, first drink is on us (forever!)
  • Invitation for 2 to Annual Investor Parties
Invest

$2,500+

  • Two Free Entrees
  • Investor Black Card: First Friday of each month, first drink is on us (forever!)
  • Invitation for 2 to Annual Investor Parties
  • 2 Vip Tickets to La Penca Azul’s 2017 Bay Area Tequila/Mezcal Expo
Invest

$5,000+

  • Four Free Entrees
  • Investor Black Card: First Friday of each month, first drink is on us (forever!)
  • Invitation for 6 to Annual Investor Parties
  • 4 Vip Tickets to La Penca Azul’s 2017 Bay Area Tequila/Mezcal Expo

Gallery

Revenue Sharing Summary

Beginning after the 2nd full month following the closing, the Issuer will share 9.5% of each month’s gross revenue with the investors as a group until they are paid in full.

Each investor will receive its proportionate share of the monthly payments made to the investors as a group.

EXAMPLE:

Gross revenue in month X
$100,000
Revenue sharing percentage
9.5%
Total payment for month X
$9,500

Assuming that the total amount raised through this offering is $250,000, and Investor A invested $2,500, Investor A is entitled to receive 1.0% of the $9,500 shared with investors for month X. Therefore, Investor A is paid $95 for month X.

*The calculations above are mathematical illustration only and may not reflect actual performance. They do not take into account NextSeed fees of 1% on each payment made to investors. 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 reasonable forecasts. If any balance remains outstanding on the maturity date, the Issuer is contractually required to promptly pay the entire outstanding balance due to each investor. Payment is not guaranteed or insured and investors may lose some or all of the principal invested if the Issuer cannot make its payments.

Comments

In order to leave comments, please sign up and verify your identity.

Sign Up
NextSeed
ADMIN
Thanks for the interest, everyone! Even though there is additional time remaining in the campaign period, the campaign has been fully funded early and has reached its maximum goal. When a campaign is reserved to its max, it can no longer accept addi ...
Read More

Issuer Statement

The information contained on this campaign page (the "Campaign Information") is furnished solely by the Issuer to prospective investors in the investment opportunity described herein. All Campaign Information is intended to be a summary of the terms and information contained in the Disclosure Statement and the Note Purchase Agreement, and is fully qualified by reference to those documents. In the event any Campaign Information conflicts with the terms of the Disclosure Statement or Note Purchase Agreement, the terms of those documents will control. The Issuer has provided the Campaign Information for inclusion on the website located at www.nextseed.com, and in no way will the Campaign Information be deemed to have been created or provided by NextSeed Securities, LLC, NextSeed Services, LLC, or their affiliates.