Revenue Sharing Notes ?
|Minimum Target||$150,000 ?|
|View Key Terms|
|Minimum Target||$150,000 ?|
|View Key Terms|
Leela’s Raw Bar & abv establishment ("Leela's & abv") will become new destinations in Dallas’s ever-burgeoning Lower Greenville neighborhood. An upscale dining and drinking concept (created by the team behind the popular Feed Company Eatery and Bourbon Lounge) will combine two bars under one roof. The complementary pairing will provide approachable wines on tap paired with creative raw bar plates downstairs (Leela's), plus craft cocktails in a fun, laidback environment upstairs (abv).
Sketch of the first floor concept, Leela's Raw Bar.
Inspired by Napa Valley, Leela’s New American menu will serve seasonal, market-driven plates and over fifty wines both on tap and by the bottle. The share-heavy menu allows diners to enjoy charcuterie boards, bruschetta, ceviche and fresh pasta made from scratch. Oysters will be sourced exclusively from North America and will reflect the best of what is available. An open-concept kitchen, oyster shucking station and a grand meat slicing counter enhance the convivial atmosphere. Outdoor seating will also be available.
The second level will host abv establishment. Guests will sip prohibition-style cocktails and order from a thoughtful menu of light snacks (think flavored popcorns and sliders). Access to the cocktail bar will be directly from the street, where a cheetah print staircase and grand chandelier let you know you’re in the right place. A something-for-everyone space, the bar will provide an easy place to mingle while the lounge areas will offer a more private experience.
Sketch of the second floor, abv establishment.
Always a popular nightlife destination, Lower Greenville has recently witnessed an ascension in fine dining. Leela’s & abv synthesize these worlds for an experience that is wholly new and oh-so-right for the neighborhood. Additionally, it will be only the sixth restaurant in Lower Greenville to maintain a late-night permit. This allows patrons to enjoy both of the bars until 2 a.m., providing a more upscale alternative to most of Dallas’s post-midnight options.
At 1914 Greenville Ave, Leela’s & abv sit among one of Dallas’s few walkable streets. Two adjacent parking lots solve the notorious headache that is parking in Lowest Greenville.
Examples of cocktails to be served at abv.
Arriving in January 2018, this will be the second opening from Sameer Patel and Patrick Bruce. The extended team is comprised of experienced professionals with over 50 combined years in the restaurant and hospitality industry.
Click here to view the Issuer's SEC Form C filing.
Funds raised through NextSeed will go toward concept buildout. Any funds raised in excess of the minimum target will go towards furniture and fixtures and initial working capital.
|Principal||Investment Multiple||Maturity*||Total Payment*|
Once the Issuer commences operations, it will share a percentage 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.
Let’s assume that the total amount raised through this offering is $300,000 and the issuer is committed to sharing 8.0% of its gross revenue.
If Investor A invested $1,500 of the $300,000 that was raised by the Issuer, Investor A is entitled to receive 0.5% of the $12,000 paid to investors for month X. Therefore, Investor A is paid $60 for month X.
Let’s assume that the total amount raised through this offering is $200,000 and the issuer is committed to sharing 5.75% of its gross revenue.
If Investor A invested $2,000 of the $200,000 that was raised by the Issuer, Investor A is entitled to receive 1.0% of the $8,625 paid to investors for month X. Therefore, Investor A is paid $86.25 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 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. Read Less
This meat and dairy charcuterie board has been met with rave reviews at Feed Company and is representative of the forthcoming menu at Leela's & abv.
Leela’s & abv will target Dallas’s urban professionals in the 24-55 year old demographic, with weekday hours running from late-afternoon to 2 a.m.
Leela's will also feature an all-day weekend brunch. The wine-forward food and beverage menu aims to make great wines approachable to all, with North American wines served both on tap and by the bottle. High priced wines will be available by the glass due to the recent ability to purchase kegged fine wines. No other establishments in Lower Greenville can boast this extensive program, something the management team has already done successfully with their bourbon menu at Feed Company. The restaurant will accommodate roughly 70 indoor seats and 10 outdoor seats.
The abv experience will be similarly singular. Educated bartenders will work from a menu of 20 Prohibition-style craft cocktails. Patrons will also be able to order beer or any of the wines from adjoining Leela’s. Light snacking menus will change weekly. The lounge will seat roughly 60 guests.
The team successfully launched and operated neighboring business, Feed Company.
Other new restaurants and shops have evolved Lower Greenville into a high-traffic area from which this business will benefit. Alternately, Leela’s & abv will bring late-night traffic to the neighborhood as one of its few late-night offerings.
By creating a unique concept on each floor, Leela’s & abv caters to two sets of local needs while hitting on national trends. Leela’s joins the national wine-on-tap trend and brings it to Lower Greenville in its largest scale. Abv will join the ever-growing list of dynamic craft cocktail bars in the U.S. It also fills a gap in the “speakeasy”-style experience that has proven so successful in other major cities. Both Leela’s & abv also provide a space for groups to go before and/or after they eat dinner in one of the many popular dining establishments in the area.
Leela's & abv will open at 1914 Greenville Ave, Dallas, TX 75206.
As a unique subset of Dallas, Lowest Greenville is fast becoming the must-experience neighborhood in Dallas. Situated on one of city’s rare walkable strips, Leela’s & abv will be surrounded by other hip eateries and retail locations. Lowest Greenville particularly has been described as a “pedestrian oasis,” a remarkable transformation for the area that has been decades in the making.
The median household income of Lower Greenville residents is $73k with most residents in the 22-44 year old range, placing Leela’s & abv squarely in the environment of their customer base. Population is steadily growing, projected to raise by 4% in the next five years. D Magazine describes the area as “a close-knit community of residents committed to making their neighborhood better. And, yes, many of them are usually up for a night out in the heart of the city.” Dallas residents are known to flock from farther neighborhoods, however, for a night out in Lower Greenville.
Sameer is responsible for concept creation, budgeting/finance, legal and assembling the management team.
He currently serves as the Managing Partner of Feed Company. Previously, Sameer worked in the financial services industry in private equity at Bank of America Merrill Lynch, consulting at IBM and Eze Software Group, and as a Project Manager at Goldman Sachs.
Patrick shares responsibility for concept creation, leads development of the food and beverage programs, and ensures day-to-day oversight of the business.
Patrick currently serves in the same capacity at Feed Company. Prior, he led an opening at another Dallas-based restaurant group and spent 11 years as an Area Sales Manager at Ben E. Keith Food and Alcohol Distributers.
August 18, 2018
We have been open for a few months now as of March 2018 and although revenue is coming in below estimates, the business is steadily growing and already cash flow positive! We are looking to add brunch service to Leela’s soon and exploring different event options for each of the spaces to grow revenue further. As our project next door (Louie King) approaches opening, we will be planning a dual investor party for both locations.
We look forward to meeting you!
May 11, 2018
We have e-mailed all gift cards to our investors that qualify for this reward as of today! We would also like to share that abv has been open for several weeks now in its soft opening phase.
For the full update please check your investor emails from email@example.com!
March 2, 2018
We are currently in our soft opening phase for Leela’s as we work out the operational kinks and gauge guest feedback. So far guests are loving the concept, including the ambiance, food and service!
abv is coming along nicely and will be ready to open in about 1-2 weeks. We have walked many guests through the space and the feedback has been overwhelmingly positive!
We are currently in discussions with Dallas Water Utilities regarding the requirement (if any) for Leela’s to install a grease trap. We will provide an update on this when a decision is reached, likely in the next 20 days.
For the full update please check your investor email from firstname.lastname@example.org!
January 29, 2018
Dear Leela’s & abv Investors,
Thank you for helping make the Leela’s & abv campaign a success!
As a quick update on our schedule, we plan to roll out the two concepts separately but in quick succession. We received delivery of most equipment this past week and are putting the final touches on Leela’s right now. With inspections scheduled for the end of this week, we hope to initially soft open Leela’s in time for Valentine’s Day. In parallel, abv is coming along nicely upstairs, and we will be opening it up 2-3 weeks after Leela’s is up and running.
We are working with NextSeed to get the bonus rewards out to all investors and plan to have our investor party in mid-March.
Thank you again, and we look forward to meeting you all!
Team Leela’s & abv
January 5, 2018
We’ve been inspired by our community, and we’re upping the ante with our bonus rewards. Every investor who invests $5,000 or more will receive 1 free glass of wine (whatever we have on tap) per day, for life. We’re excited about the opportunity to reward our members and give participants an extra reason to join us on our ride for the long term.
Also, we’re excited to share our progress with construction. Check out the beautiful texture on the walls and the new finish on the wooden tables.
December 19, 2017
Good news. Our equity raise is oversubscribed to date! We’ve held off on any additional fundraising until the NextSeed campaign is closed, so we can include as many people as possible in our growth. In the meantime, check out the progress we’ve made on construction.
November 30, 2017
We are installing the finishes at Leela’s! The brick you see will be whitewashed and the wood sanded and polished to create the sleek feel you see in our rendering. More pictures to follow…
November 9, 2017