Highlights

Upscale Pan-Asian restaurant serving sophisticated comfort food

A "sophisticated take on... Pan-Asian Cuisine" according to the Austin Chronicle
Awarded 4.9 stars and declared "authentic and delicious" by Austin Food Magazine
4 stars on Yelp based on 222 reviews, 4.6 stars based on 40 Google reviews
2016 projected revenue of over $1.3 million
This investment will be secured by a blanket lien on all assets of the company

Updates
3

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Jenna’s Asian Kitchen
January 26, 2017

Check out this New Bar!

We wanted to provide you with a quick update on our progress. The bar is coming along very nicely. We haven’t officially announced the grand opening, but it will happen soon.

We’ll be getting in touch again soon with invitations to the grand opening of the bar and look forward to seeing you all at Jenna’s very soon.

Investment Terms

Issuer
JAK Restaurant, LLC

Type of Offering
Texas Intrastate Crowdfunding

Offered By
NextSeed TX LLC

Offering Min

$75,000

Offering Max

$75,000

Min Individual Investment

$100

Raised to date

$75,000

Type of Securities

Term Note

Annualized Interest Rate 16%
Maturity 30 months
Payments

Monthly

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.
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

Jenna’s Asian Kitchen is seeking to raise $75,000 on NextSeed. All of the proceeds will be used for the planning, construction and stocking of a full bar inside the existing restaurant, along with related short-term working capital. The bar will serve the fast-growing population of Northwest Austin, which currently lacks quality bar venues. 

Company Description

The critically acclaimed Jenna’s Asian Kitchen brings downtown dining to Northwest Austin. When you enter the spacious restaurant, you’ll find yourself enamored by its chic, rustic-modern design and the handcrafted wooden furniture. The striking interior sets the stage for tastefully arranged dishes drawing inspiration from all over Asia, served by a warm and friendly staff. Executive Chef, Jenna Choe, has crafted an upscale pan-Asian menu that appeals to a wide range of palates and has earned rave reviews from local food writers and critics.

The Austin Chronicle has described the restaurant experience as a “sophisticated take on Korean and Pan-Asian cuisine” serving “crowd-pleasers” and “beautiful plates.” Austin Food Magazine has described Jenna’s Asian Kitchen as “the upscale Korean and Pan-Asian cuisine North Austin has been desperately waiting for,” characterizing the atmosphere as “hip, zen-like” and the menu as “authentic and delicious.” Jenna’s Asian Kitchen was also recently voted “Favorite Austin Restaurant Opening of 2015” by Eater Austin readers. 

Despite its sophisticated feel, Jenna’s Asian Kitchen is a family restaurant at heart. Its versatility makes it the perfect venue for a large family outing or an intimate dinner for two. With over 150 seats and a beautifully appointed private dining room, the restaurant can host small to very large parties. The menu is complemented by a carefully constructed wine and saké selection that continually draws a crowd in the evenings. With the addition of a full bar serving mixed beverages, Jenna’s Asian Kitchen will soon also satisfy the area’s need for a fun, classy bar scene.

           

   

  

Business Model

Jenna’s Asian Kitchen specializes in traditional Asian comfort food, executed with modern panache. The versatile menu features cuisine from China, Korea, Japan, Thailand, Vietnam and beyond, all delivered with outstanding flavors and high-quality ingredients.

Jenna’s Asian Kitchen has streamlined take-out, delivery and catering services by partnering with reputable third-party vendors such as Eat Out In, Cater2Me and ZeroCater. The restaurant also hosts a popular series of tasting and pairing events dubbed the “Booze and Food Series,” which sells out every month. Jenna’s Asian Kitchen also works with a number of non-profit organizations like The Pond Springs Elementary School on fundraising campaigns that share a portion of sales with these organizations. These campaigns generate a tremendous amount of brand awareness and create regular customers for the restaurant, all while giving back to the community.

Currently, Jenna’s Asian Kitchen carries an extensive wine, saké and beer selection, and alcohol sales make up nearly 15% of gross sales. The restaurant’s goal is for alcohol sales to reach 25% of gross sales with the addition of a full bar and a mixed beverage permit.

            

   

     

Location Analysis

Jenna’s Asian Kitchen is located at 12300 Ranch Road 620 N, Austin, TX 78750, on a thoroughfare bordering Austin and Cedar Park that generates over 35,000 passing vehicles per day. The vehicle traffic is among the highest in the area.

In 2015, popular finance website NerdWallet ranked Cedar Park #1 on its list of best cities in the U.S. to start a restaurant, based on demand for new restaurants and local economic conditions. The median annual income in the area surrounding Jenna’s Asian Kitchen exceeds the national average by more than 50%, while the population in the same area is expected to grow almost 40% in the next 10 years. While many new restaurants have recently opened to meet surging demand, the area remains devoid of high-end options for non-sushi Asian cuisine aside from Jenna's Asian Kitchen.

In 2015, alcohol sales in the zip code inhabited by Jenna’s Asian Kitchen were up 23% compared to 2014. The 78750 zip code is one of the top growing zip codes in Austin for alcohol sales – number 7 out of 45 Austin zip codes with alcohol sales.

               Source: Piinpoint

History

June 2014
Commenced construction
March 2015
Opened for business
September 2015
1st installment of Booze and Food Series (sold out monthly since)
December 2015
Voted favorite new restaurant 2015 (Eater Austin)
March 2016
Brunch menu to be added
April 2016
Menu facelift and build-out of the bar begins
May 2016
Expected grand opening of the bar

Meet the Team

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Hyun-Jung "Jenna" Choe
Executive Chef and President

After graduating from Texas State University with a degree in interior design, Jenna originally explored a career path in design. Eventually her passion for food pulled her into a career in the restaurant industry. Jenna’s immediate and extended family members have owned multiple restaurants, where Jenna received most of her restaurant and food education. You could say that Jenna was destined to have a career feeding people.

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Min Kwon Choe
Manager

Min comes from a family of entrepreneurs. He has lived in Austin for over 30 years and graduated with a BBA in Management at the University of Texas Red McCombs School of Business. He and Jenna have paired up to start and grow three successful restaurant concepts, learning invaluable lessons along the way that have contributed heavily to the success of Jenna’s Asian Kitchen.

Bonus Rewards

Invest

$100+

  • Invitation to the Opening of the Bar
Invest

$1,000+

  • Invitation to the Opening of the Bar
  • $50 Gift Card
Invest

$3,000+

  • Invitation to the Opening of the Bar
  • $200 Gift Card
Invest

$5,000+

  • Invitation to the Opening of the Bar
  • $350 Gift Card
Invest

$10,000+

  • Invitation to the Opening of the Bar
  • $350 Gift Card
  • A Cocktail Named by You
  • Personalized Nameplate at the Bar Seat of Your Choice

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Interest Rate*
16%
Term
30 months
Principal
$100.00
Total Payment*
$121.99
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  • Projected total payment

* Payment for any given month (including the total payment at the end of the final month) indicates the cumulative amount contractually required to be paid to an investor after the end of that month, assuming the loan is not prepaid. This calculation is a mathematical illustration only and may not reflect actual performance. It does not take into account NextSeed fees of 1% on each payment made to investors. 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

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Bill
Hello, just a few questions. Thanks 1. What is the monthly payment on your lease, the term structure and is it triple net? 2. How many full/part time employees do you have? Besides Hyun-Jung Choe how many other chefs or cooks are there in the restaur ...
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Jenna’s Asian Kitchen
ISSUER
Hello Bill, thanks for your questions. Please see below: 1. The terms of our lease are in line with the surrounding area, and all associated costs are reflected in our forecast. We'd rather not get into the details because we want to respect our l ...
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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.
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