|Minimum Target||$150,000 ?|
|View Key Terms|
Texas has no shortage of breweries, but what if you could enjoy the best offerings all in one place? With 40 taps, all poured by the ounce, patrons of Oz. Tap House can enjoy multiple craft brews in a single sitting—all at varying amounts and a reasonable price.
How it works: You’ll be presented an RFID card upon check-in. From there, you’ll be able to access the smart taps and begin tasting to your heart’s content.
The Oz. Tap House promise: To deliver the ultimate beer tasting experience, equally guided by both the house professionals (cicerones) and your own taste, in a social dining atmosphere.
There’s food to soak it all up, too. Fresh burgers, boards and vibrant chopped salads are the cornerstones of the Oz. Tap House menu, created to be quality conscious and crowd-pleasing. Craft burger options will include beef, salmon, and ahi tuna while salad ingredients will be promised fresh and farm-to-market. “Smorgas-boards” will feature a variety of fresh and cured proteins, fine cheeses, fruits, nuts and grains. Local Lick Honest Ice Creams will be available in pints to self-scoop for those with a sweet tooth. We will also offer gluten free, organic and vegan food options.
Oz. Tap House’s dynamic outdoor space also features a lawn, patio and a multi-level deck. In addition to drinking, dining and socializing, this space allows for a variety of family-friendly activities, including live bands, potato sack races and shuffle board.
The experienced owners, Krista and Sean Kanter, are passionate about creating a beer garden designed for the Austin community by combining new technologies and old-school family fun. Oz. Tap House is, at its core, an establishment that welcomes all ages to soak up the Austin spirit.
Oz. Taphouse is on track for a December 2018 opening.
Click here to view the Issuer's SEC Form C filing.
The total anticipated project cost for Oz. Tap House is $450,000. The owners have committed $110,000 in equity to date.
Proceeds from the minimum NextSeed raise of $150,000 will be used for build-out, primarily removing and adding a small handful of walls, redesigning the restrooms, main inside space and kitchen, and patio clean up.
Funds raised above the $150,000 minimum to the $175,000 maximum will be put towards working capital for the project.
Once the Issuer commences operations, the Issuer will share a percentage of each month’s gross revenue with the investors as a group until they are paid in full.Total Raise Amount: $150,000 - $175,000
Each investor will receive its proportionate share of the monthly payments made to the investors as a group.
First year of operations:
In the first year of operations, the Issuer will share 1.50% of its revenues monthly.
Let’s assume that the Issuer generated $400,000 in revenues in month 6, which is when the first year of operations begins. The issuer will make a $6,000 payment ($400,000 x 1.50% = $6,000) to investors. Since you invested with 1% of the total amount raised ($1,500 / $150,000 = 1.0%), you would receive a $60 payment.
After the first year of operations:
After the first year of operations, the Issuer will share 6.55% of its revenues monthly until the 1.50x Investment Multiple is reached, or until the maturity date. If by maturity, there are oustanding amounts owed to investors, the Issuer will make one balloon payment for the balanced owed.
Let’s assume that the Issuer generated $400,000 in month 24. The issuer will make a $26,200 payment ($400,000 x 6.55% = $26,200) to investors. Since you invested with 0.5% of the total amount raised ($1,500 / $150,000 = 1.0%), you would receive a $262 payment.
* 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. 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.
Upon entering Oz. Tap House, patrons will encounter a craft tap wall with 40 taps and be handed an RFID card for accessing the brew taps, which will dispense craft beers and wine. This will serve as the primary source of Oz. Tap House revenue. A customer can choose to pour anywhere from 1-16 ounces. Further, food will be ordered at the Food Order Station or Self-Serve Kiosks and delivered to the guest from the kitchen when ready. Prices for food, beverage and apparel are pre-programmed on the menus and taps throughout the restaurant. Guest purchases are tracked through the RFID card and payed for on our customized phone app or upon exit while returning the card. Check-in and check-out stations assure that the customer is well versed on how to use the card and receives an itemized receipt when leaving.
The taps themselves will be operating with the well-regarded Table Tap technology, which has found success at restaurants across the U.S. Today, Table Tap has installed over 100 systems globally and is responsible for the majority of self-service beer systems in the U.S. Further, the model significantly reduces waste in an industry that needs to improve in this area. Finally, given the specificity of the pours, the Table Tap technology allows operators to accurately control inventory and sales. As the brand itself says, “Turn Drinks into Data.” Table Tap technology crucially allows businesses to collect actionable consumer insights.
As Texas state law requires employees to pour beverages, beer ambassadors (“cicerones”) will be on hand to guide the experience and assist with the Table Tap technology. These employees will receive in-depth product knowledge and service training that aligns with the superior standards of Oz. Tap House.
Of course, patrons under 21 will also be frequenting Oz. Tap House. Accordingly, live entertainment and a variety of activities will round out the space. With a covered patio and large outdoor area, Oz. Tap House visitors will be able to enjoy their food and beverage while listening to local bands and playing lawn games like cornhole, giant Jenga and potato sack racing.
Marketing will chiefly comprise of local market promotions, social media and text/email blasts. A grassroots campaign will help establish a loyalty program with local businesses and residents. Complimentary desserts, discounted beverages and Oz. Tap House apparel will be among the incentives which will help repeat business and increase revenue.
Finally, the Oz. Tap House phone app will allow for an enhanced interactive experience. Along with the menu, users can follow taps and information about the beverages Oz. Tap House offers, read descriptions and ABV and IBU counts, and most importantly, check the remaining level of the keg. Customers can also order branded Crowlers as well as food to-go through the app.
Oz. Tap House will be situated in Austin’s The Shops at River Place, the bustling retail center in the Four Points area. The 3,500 square foot space formerly housed a Mexican restaurant and already comes complete with many of the fixtures and equipment necessary for an eatery.
The population within a 3-mile area is over 23,000. The restaurant is in a major traffic area, at the intersection of River Place Blvd and Ranch Road 2222. The traffic count on RR 2222 is upwards of 37,000 vehicles per day (VPD) and River Place Blvd over 10,000 VPD.
The residential population in the immediate area is comprised of a mixture of single family and multi-family housing. Oz. Tap House sits among three major neighborhoods: Steiner Ranch, Westminster Glen, and River Place. The median household income in this area is over $200,000 which allows the restaurant to cater to those with more disposable income. Oz. Tap House’s unique concept also assures that it will be the only establishment of its kind in the area.
The sole manager of Oz. Tap House is Sean Kanter. Sean and Krista Kanter together have over 35 years of experience in the restaurant and catering industry. Sean began his restaurant career at the age of 15, dishwashing at a BBQ restaurant that did 700 covers a night, and it was all uphill from there. He worked his way up from busboy to server, to bartender, to manager, to multi-unit leader, to operations director, to franchise owner. Not only did he own his own restaurants, Sean mentored other franchisees in their quest to restaurant ownership and helped open over 30 stores. Sean’s passion is to develop the systems, operations and culture of the restaurant. This is the life blood of not only restaurant, but any successful business. Sean is additionally a U.S. Army Veteran, having served 2 tours overseas. After Sean’s military tours and during his restaurant career, he raised two beautiful children, Cole and Bella Kanter, with Krista Kanter, his revered wife.
Krista, too, began at the low ranks of the service industry, as a hostess at Tony Roma’s (where she and Sean met). Her trajectory, like Sean’s, has seen her in nearly every position of the restaurant and service space, including new store trainer, catering and marketing director, and restaurant owner. Krista loves mentoring and training young restaurateurs, but her favorite thing is designing beautiful restaurant spaces for guests to enjoy.
Krista and Sean are also experienced real estate investors, managers and developers. Their projects have taken them from Seattle to Southern California to Costa Rica. Their expertise in building relationships with surrounding communities and businesses has allowed them to successfully develop and staff in these diverse areas. Together, Sean and Krista’s knowledge of lease negations and store buildouts is seminal to establishing Oz. Tap House.
The business's Anticipated Opening Date is its best estimate, and the timetable can vary significantly due to unforeseen circumstances.
October 29, 2018
We have hired an executive chef returning from Brazil after a world tour. We’ll be utilizing Sysco test kitchens next week, collaborating menu items between Sysco chefs, our chef and ourselves.
October 11, 2018
What a glorious day to remove rotten boards and roofing from our deck and patio!!
September 27, 2018
Team Oz. Tap House is proud to say, we passed preliminary health on September 14th and submitted our plans September 17th to the City of Austin for approval. We are half-way through the 10 day turn-around period, and will keep y’all posted. Below is a page from the architectural plans showing a detailed updated layout.
September 22, 2018
TABC Enforcment approved our business model this week! We are one step closer to drinking beer and wine by the ounce.
September 16, 2018
Our double sided Coming Soon Sign has officially been planted on the corner of FM 2222 and River Place Blvd! #oztaphouse
September 12, 2018