Upscale Pan-Asian restaurant serving sophisticated comfort food
JAK Restaurant, LLC
Type of Offering
Texas Intrastate Crowdfunding
NextSeed TX LLC
|Min Individual Investment|
|Type of Securities|
|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.
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.
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.
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.
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.
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.
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.
* 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.
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