$125,000 invested

132

Investors

13

Payments Made

Revenue Sharing Notes ?

Multiple 1.50x
Maturity 48 months
Minimum Target $50,000 ?
View Key Terms

Hoke Poke (North Hollywood)

Los Angeles, CA

  • Opening third location in North Hollywood. Two celebrated locations in Downtown LA and Valencia
  • Buzz-worthy décor, branding and service, with a low-cost build-out (no hoods or grease traps needed)
  • Team with over 25 years of experience in fish procurement, operations and hospitality
  • Chef curated bowls with unique menu differentiators
  • This investment is secured by a blanket lien on all assets of the business ?

Investment Details

$125,000 invested

132

Investors

13

Payments Made

Revenue Sharing Notes ?

Multiple 1.50x
Maturity 48 months
Minimum Target $50,000 ?
View Key Terms

Company Description

Hoke Poke is a fast-casual restaurant that brings a fresh take to the iconic Hawaiian dish (poke), infusing Japanese flavors and a healthy California lifestyle. With two growing locations in Downtown LA and Valencia, the team is expanding with its third in North Hollywood.

Poke bowls consist of fresh fish on top of rice, kale or quinoa; served with vegetables and spices; and made complete with toppings and sauces. The result is a delicious, healthy, crave-able, affordable, and completely customizable meal.

Poke has been sweeping the nation over the past year. The Los Angeles Times describes the wave of poke fever as "hot, hot, hot," while Huffington Post identified the poke bowl as "the nation’s new favorite food."

Created by four Angeleno friends with a serious love for poke, Hoke Poke serves only the freshest and most sustainable sushi-grade fish, locally sourced produce and other quality ingredients.

The team curates creative combinations for its poke bowls. The menu has been designed in collaboration with Chef Lauren Haas, a well-known Certified Nutrition Practitioner who splits her time between Kuia and Beverly Hills. Customers have the option to either select from the signature Chef’s Choice bowls or to "Do the Hoke Poke" and build a custom bowl from scratch.

The menu for Hoke Poke is also constantly being tested, identifying new trends and offerings that further strengthen the brand. Items such as a new sushi burrito, mochi ice cream, and milk teas have been introduced with tremendous customer response.

Developing a well-rounded menu is a highlight of Hoke Poke's value, but it's only one example of the team's process. Hoke Poke is not being created with only a single location in mind. The business is being constructed as a scalable venture, and the team's attention to detail, operations and branding showcases this approach.

Learn more:

Key Terms

Issuer
Hoke Poke 5077 Lankershim, LLC
Securities
Revenue Sharing Notes
Offering Amount
Minimum $50,000 to maximum $200,000
Investment Multiple ?
1.50x
Payments ?
Monthly
Revenue Sharing Percentage
8.75% of the Issuer's monthly gross revenue
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.

Click here to view the Issuer's SEC Form C filing.

Use of Proceeds

The capital raised will be allocated to the construction and build-out of the space. Additional funds will be allocated to marketing and working capital required for operations.

Total Payment Calculator

Principal Investment Multiple Maturity* Total Payment*
1.50x 48 months $150

Revenue Sharing Summary*

Once the Issuer commences operations, it will share 8.75% 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
$72,000
Revenue sharing percentage
8.75%
Total payment for month X
$6,300

Assuming that the total amount raised through this offering is $200,000, and Investor A invested $2,000, Investor A is entitled to receive 1.0% of the $6,300 shared with investors for month X. Therefore, Investor A is paid $63 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. ... Read More

Bonus Rewards

EARLY BIRD REWARD

First 50 investors who invest $1,000 or more will receive:
  • $25 Early Bird Gift Card

Invest $500 or more

  • $25 Gift Card

Invest $1,000 or more

  • $50 Gift Card
  • Your Picture on the Wall In-Store for the First Year
  • Invitation for 2 to the North Hollywood Launch Party

Invest $2,000 or more

  • $75 Gift Card
  • Your Picture Shared on our Social Media and In-Store for the First Year
  • Invitation for 2 to the North Hollywood Launch Party

Invest $5,000 or more

  • $75 Gift Card
  • Your Picture Shared on our Social Media and In-Store for the First Year
  • Invitation for 2 to the North Hollywood Launch Party
  • 50% Discount on Your First Catering Order
  • Cooking Class for 2 with the Executive Chef

Invest $10,000 or more

  • $75 Gift Card
  • Your Picture Shared on our Social Media and In-Store for the First Year
  • Invitation for 2 to the North Hollywood Launch Party
  • 50% Discount on Your First Catering Order
  • Cooking Class for 2 with the Executive Chef
  • Poke Party Catered for up to 20 Guests (LA Metro Area)

Invest $25,000 or more

  • $75 Gift Card
  • Your Picture Shared on our Social Media and In-Store for the First Year
  • Invitation for 2 to the North Hollywood Launch Party
  • 50% Discount on Your First Catering Order
  • Cooking Class for 2 with the Executive Chef
  • Poke Party Catered for up to 20 Guests (LA Metro Area)
  • Private VIP Party for 20 People at Hoke Poke North Hollywood, Serving Poke+Sake
  • Name a Seasonal Bowl or Drink On The Menu

Business Model

Hoke Poke is open 7 days a week, serving lunch and dinner daily from 11am to 9pm.

The menu and ordering process have been strategically developed for their simplicity and high quality. The poke bowls and burritos are made from scratch, on demand.

The main menu and bowl options have been designed in collaboration with Chef Lauren Haas, a well-respected Certified Nutrition Practitioner based in Beverly Hills. Chef Haas also spends half of her time in Kuai, and many of her recipes have been inspired by her local experiences in Hawaii.

Customers have the option to select from half a dozen special “Chef’s Choice” bowls on the menu or to “Do the Hoke Poke” and build a custom bowl from scratch.

Hoke Poke has also curated a rotation of add-ons and sides for the menu. Options such as coconut crisps, banana chips and a seaweed salad can be added to a ticket. Plus, desserts and specialty drinks have been a hit. New options like milk teas, lemonades, and mochi ice cream have been piloted and developed to meet customer demand.

The new space in North Hollywood will seat 25. That does not dictate capacity, though. Based on the prior two locations, takeout and delivery orders make up ~70% of sales.

An additional portion of Hoke Poke’s revenue is also generated via catering and events. The team’s efforts in building community partnerships and conducting outreach are what help set the business apart.

In addition to its relationship with Hoke Poke’s chef, the team has built a number of strategic relationships with STUDIOUNLTD Design (Bestia, Food+Lab), Williamson Construction (Robeks, Jersey Mike’s, SweetFin), and Gary Wang Architecture (Jersey Mike’s Panda Express, Waba Grill). This group of experienced agencies and partners lends a level of expertise to Hoke Poke’s execution that is difficult for competitors to replicate.

Location Analysis

Hoke Poke will be located at 5077 Lankershim Boulevard, North Hollywood, California 91601.

North Hollywood (NoHo) is a trendy, up-and-coming neighborhood that has been transformed in the last decade. There is more residential density in NoHo than any neighborhood in the San Fernando Valley, and Hoke Poke sits right at the center of the NoHo Arts District.

Hoke Poke is located at the center of the NoHo Arts District and has convenient access to major highways

Hoke Poke will be located on the ground floor inside a new development housing 156 luxury residential units, along with other vendors such as Starbucks, Firehouse Subs, Massage Envy and Club Pilates, and across from the future home of Wholefoods 365.

Given the recent development boom, there is a huge imbalance between residential and restaurant options, creating an opportunity for Hoke Poke to fill the demand. The ownership team has an intimate knowledge of the area, as it is also a franchisee of Jersey Mike’s with a location down the street from the new Hoke Poke site. This location is among the top 3 performing Jersey Mike’s locations in California.

The total population within a one-mile radius is approximately 41,830 with traffic counts of approximately 44,000 CPD adjacent to the property at Lankershim and Magnolia. The building is conveniently located within walking distance to shops and minutes from the North Hollywood MetroRail. Most of the retail activity is along the triangle of streets between Lankershim Boulevard and Vineland Avenue.

Within North Hollywood, NoHo Arts has a wide variety of things to do. Since its inception in the early ‘90s, the pedestrian-friendly, Metro-connected district has put North Hollywood on the map as the Valley’s cultural hub. It’s the home of the Emmy-producing Television Academy as well as off-the-beaten-path comedy clubs, theaters, dance studios, art galleries and music recording venues.

Within Los Angeles County, median income is approximately 107% greater than the national average, and average expenditures are approximately 112% greater than the national average. (Piinpoint)

Leadership

Daniel Acuna, Partner

Daniel heads up Marketing and HR and leads the Operations side of the business. Daniel was a marketing executive who transitioned into food, beverage and hospitality space with launches of multiple SBE venues. He is a Jersey Mike’s franchisee operating a store operating among the top 1% in the country.

Darin Barton, Partner

Darin heads up Accounting and Finance roles within the group and is also serving as a lead operator. He possesses extensive financial and operational experience with startups and mid-sized companies in food, fitness, and beauty.

Brandon Hance, Partner

Brandon is a serial entrepreneur in tech, real estate, and franchise industries. He is also the owner and managing partner of The RUN Group, a real estate development company managing over $100M in assets. With Hoke Poke, he leads business and strategy development.

Michael Pakravan, Partner

Michael is a VP at Kennedy Wilson Commercial Real Estate. He has completed 400+ lease transactions on 100+ properties. Michael also represents national restaurants Jersey Mike’s, Islands, Menchies and more. Michael puts this experience to work for Hoke Poke, leading real estate and business development.

History

October 2016
Launched first corporate store in Downtown LA (DTLA)
April 2017
Signed first area developer (21 store deal) in Mid-Atlantic Region
May 2017
Launched first franchise location in Valencia
September 2017
Estimated launch of second corporate store in North Hollywood

October 20, 2017

Our Doors are Open!

Thank you so much for believing in Hoke Poke and supporting our vision to bring fast casual poke bowls with a Californian flair to North Hollywood! We opened our doors on October 12th and had a recent feature on the NoHo Arts District site! In addition, we are also beginning to work on the fulfillment of investor bonus rewards and will share more once progress is made, so please stay tuned!

August 24, 2017

New Updates

Darin shares some exciting new highlights coming to the menu and North Hollywood!

August 16, 2017

Campaign Reset

Hi, investors! We made two important updates to our campaign today.

1)    We decreased the minimum target to $50,000. We have enough capital in our group to backfill the remaining amount, but we still would love the NextSeed community to be involved.

2)    We’ve extended the campaign period (ending on September 5th).

Because we are making these changes, all funds raised to date have been returned to investors. If you committed to an investment previously, please re-confirm your investment.

We’re still very excited to have NextSeed investors participate in our newest location, and we’re thrilled to be just a few weeks away from opening!

August 11, 2017

North Hollywood Update!

Brandon shares why we’re excited about this North Hollywood location, while Darin photobombs him with some slick moves!
 

July 27, 2017

Our Buzz-worthy Signage!

We couldn’t be happier with the our newly installed Hoke Poke signage!

 

 

 

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