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Alan
Looks like maximum investment reached. Will @Issuer be moving up the close date?
Karim
Thanks, and what are the hours and weeks of the day that the restaurant will be open?
Intero Ristorante
ISSUER
Hi, Karim. We will be open from 5-10pm on Tuesdays, Wednesdays, Thursdays, and Sundays, and we will operate from 5pm-12midnight on Fridays and Saturdays. The restaurant will be closed on Monday.
Karim
I had a question about the capacity of the place. What is the expected number of tables and bar spots? I'm trying to get a sense for the range of patrons it could seat at a given time. And best of luck on this endeavor!
Intero Ristorante
ISSUER
Hi, Karim. We have a total of 84 seats which includes: 10 seats at the bar and 6 tables in the bar area, 16 tables in the main dining, and one table in the Private Dining Room. Thank you so much!
Thomas
@Nextseed, can you address Jeffery's question on whether your scope of diligence included Ian's ability to repay?
NextSeed
Hello Thomas, for more information on NextSeed's standard practices on this topic of personal guarantees, please see the related FAQ: What is a personal guarant ...
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Thomas
I saw a brief mention of wine in the disclosures, as well as mention of usual alcohol risks, and the floor plan looks to have a bar area. However, I did not see alcohol revenues or COGS, so are alcohol sales and costs included in the projections?
Intero Ristorante
ISSUER
Hi Thomas, absolutely. The menu will be contemporary Italian featuring local produce and meats, and will provide vegetarian and gluten free options. (We just loaded a draft of the menu in the Updates section - check it out!) For instance, you may see ...
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Thomas
Hi, seems to be an interesting concept. Can you share additional details about the menu, including pricing? What do you expect an average price/person to be on weekdays/weekends?
Jeffery
Howdy. This looks to be an interesting opportunity. I read in the disclosure that Ian will be offering a personal guarantee for the loan. Does that include accumulated interest? Also, has Ian supplied nextseed evidence or collateral to support the gu ...
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Intero Ristorante
ISSUER
Hi Jeff, Ian here. Thanks for the interest and well wishes! I’ve signed a personal guaranty for the full payment of the NextSeed notes (1.5X your investment within 42 months).
Jordan
What were Crave's gross revenues in 2015 & 2016? What is the value of Crave's assets? Will they be added to Intero and become part of the lien on Intero's assets associated with this offering?
Intero Ristorante
ISSUER
Hi Jordan, thank you for your interest. Crave had gross revenue in 2015 of approximately $40k and in 2016 $60k as a small, primarily wholesale company with limited production space. The goal with Intero is not only to provide specialty chocolates to ...
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Randall Mark
Please supply the street address of the Bud's location so I can spot it on a map. Also, will Intero be located on the the ground floor? How much on-site parking will be available to diners? Are there nearby businesses which generate significant fo ...
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Intero Ristorante
ISSUER
Randall, thank you for your note. The Buds building is located at 2612 E Cesar Chavez, and the Intero space uses the prominent front section of the ground floor. There are 35 on-site parking spaces (20 dedicated to Intero), and both sides of E Cesar ...
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Randall Mark
Thanks so much for this info. I have now spotted the location on Google Maps, and have looked at all of E Cesar Chavez Street using the Street View. I lived in Austin from 1980 to 2008, so I knew it when it was E First St. Now I am an "adventure c ...
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Intero Ristorante
ISSUER
We appreciate your interest in Intero and your questions. Austin has been rapidly changing on the east side over the last 5yrs. Residential property in the area is currently among the most expensive and sought after in the city, reflecting a more aff ...
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Randall Mark
Thanks for this encouraging info. Do you mean to infer that Intero will not be a destination business for most of its clientele? Are you expecting major neighborhood and drive-by or walk-by business?
Intero Ristorante
ISSUER
We expect for Intero to be a destination for some of our clientele, however our moderate price point and exceptional service will encourage neighborhood residents to visit one or two times a week. Also, with new residences and businesses popping up i ...
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