Investment Multiple ?
Funded on March 9, 2018
Pitch 25 is poised to become Houston's premier soccer bar and restaurant. Ideally located less than a block away from BBVA Compass Stadium, home of Major League Soccer's Houston Dynamo, the unique venue and fan destination will be operated by a team of industry veterans.
Pitch 25's name combines the reference to a "football pitch" (or "soccer field") and former Dynamo star Brian Ching's jersey number, "25." The all-time leading scorer for the Houston Dynamo, Brian led the franchise to two MLS Cup Championships in 2006 and 2007. After retiring from his playing days, Brian helped launch the Houston Dash (National Women's Soccer League), serving as the team's Managing Director since its inception in 2013. He now serves as a Houston Dynamo Club Ambassador, maintaining a close advisory relationship with the team. Brian headlines a group of local Houston corporate executives and investors who are backing the new project.
Opening in the burgeoning East Downtown (EaDo) neighborhood of Houston, Pitch 25 will be strategically positioned between BBVA Compass Stadium and downtown Houston. The site is also located within walking distance of Minute Maid Park (home of the Houston Astros), Toyota Center (home of the Houston Rockets) and the George R. Brown Convention Center which boasts nearly 2 million square feet of convention space. Pitch 25 will attract area residents and employees, visitors to the city, and, of course, Houston Dynamo fans on their way to and from matches. The area has quickly become one of the hottest growth pockets in the city with a heavy investment in both hospitality and residential projects.
The venue will offer a unique mix of services and amenities. The menu of classic American pub fare, signature craft cocktails and an extensive tap list will be joined by televised soccer matches from around the world on over 20 TV screens positioned throughout the space. Pitch 25 will also have its very own indoor soccer field to be rented out for tournament play, and an outdoor beer garden will provide a fun and casual atmosphere.
The space will be made up of an indoor soccer field, several sections for dining and drinking, and an outdoor biergarten.
Andy Aweida and Jeff Barati of The Kirby Group will form the management team. This accomplished F&B duo owns and operates a number of successful projects including popular Wooster's Garden in Midtown and the Heights Bier Garten.
Demolition of the space has already begun. Pitch 25 anticipates opening its doors by Spring 2018, gearing up for the start of the 2018 Major League Soccer season and ahead of the 2018 FIFA World Cup in June.
Click here to view the Issuer's SEC Form C filing.
The capital raised will be allocated to the construction and build-out of the space. Additional funds will be allocated to marketing and working capital required for operations.
|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 $250,000 and the issuer is committed to sharing 5.0% of its gross revenue.
If Investor A invested $2,500 of the $250,000 that was raised by the Issuer, Investor A is entitled to receive 1.0% of the $15,000 paid to investors for month X. Therefore, Investor A is paid $150 for month X.
Let’s assume that the total amount raised through this offering is $500,000 and the issuer is committed to sharing 6.5% of its gross revenue.
If Investor A invested $2,500 of the $500,000 that was raised by the Issuer, Investor A is entitled to receive 0.5% of the $19,500 paid to investors for month X. Therefore, Investor A is paid $97.50 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
Annual membership - $75. Receive 10% off on all food and beverage, and free entry to all ticketed events
Annual membership - $100. Receive 15% off on all food and beverage, free entry to all ticketed events, plus guaranteed table reservations for Watch parties (with 24-hour notice)
Exclusive Investor Card - not available for sale. Receive 20% off on all food and beverage, waived venue rental fees, free entry to all ticketed events, plus guaranteed table reservations for Watch parties (with 24-hour notice)
With over 25,000 square feet of space, Pitch 25 will be a new Houston soccer destination – becoming the place to watch local, national, and international games.
The core of its business is focused on food and beverage sales. Pitch 25 plans to be open for lunch and dinner daily, staying open until midnight or 2am on certain evenings to cater to the active late crowd in the area.
In recent years, soccer has become a huge part of the American sporting world. Once somewhat more obscure, today a generation that grew up playing soccer actively seeks out international FIFA broadcasts and attends MLS games. In 2014, 24.7 million Americans watched the World Cup match between the US and Portugal and an additional 1.37 million streamed it online. These figures do not account for the large number of people who watched the match at viewing parties nationwide. Altogether, however, this match drew in more viewers than those recorded watching the 2014 NBA Finals, the 2013 World Series, or the NHL playoffs.
Pitch 25 will build relationships with local soccer fan groups for both local Houston and national teams, as well as supporter groups for Liverpool, Celtic, Manchester United, and Barcelona, among others. The company’s unique relationship with professional soccer leagues in the US and around the world will allow Pitch 25 to serve local fans with exclusive experiences during major events. Pitch 25 intends to become the official away game watch party for the Dynamo, and the space will host beer garden viewing events for the World Cup, US and Mexico game, Champions League, and the European Championships.Read More
Guests will also be able to privately rent or participate in league play on Pitch 25’s indoor soccer field. This feature makes the space completely different from any other destination in the city. Pick-up games, scheduled gatherings, and mini-tournament play are opportunities in the space, creating a destination that caters to soccer crowds.
Soccer will take priority with viewing, but various sports games and matches will be shown on the screens throughout the space. The recent surge in popularity of the Houston Astros and Houston Rockets provides an additional boost in traffic to the area during game days.
The restaurant’s proximity to downtown, the convention center, and a high density of hotels will allow Pitch 25 to serve as a fun and casual lunch spot throughout the week. Downtown professionals, visitors to the city, conference-goers and trade show attendees will have a welcoming spot.Read Less
Pitch 25 will be located in a prime location (904 Hutchins Street, Houston, TX 77003) in Houston's East Downtown.
A population of more than 407,000 Houston residents live within a five mile radius, a population that spends more than $670 million on restaurant dining and alcoholic beverages annually.
The restaurant and sports bar is also in a perfect location to cater to an active and growing sports fan base in Houston. Pitch 25 will be just a block away from BBVA Compass Stadium, home of the Major League Soccer team the Houston Dynamo. The Dynamo had nearly 342,000 individuals attend home games in 2014. The largest home game attracted 22,332 fans.
The Houston Astros finished with the third best record in Major League Baseball and won the World Series in 2017, and the Houston Rockets finished with the third best record in the NBA in the 2016-2017 season. Both teams play less than a mile from Pitch 25 at Minute Maid Park and Toyota Center, respectively.Read More
Houston is not only a rapidly growing metropolitan area, the city is also home to a strong culture of professional and collegiate sports spectatorship. Named one of America’s “Most Sports-Crazed Cities” by Travel+Leisure Magazine, the city and immediate region is home to five professional sports teams, five Division I college athletic programs, and dozens of minor-league and semi-pro teams. In 2017, Super Bowl LI was played at NRG Stadium in Houston.
Visitors to the area will also provide a core client base for Pitch 25. Its close proximity to the George R. Brown Convention Center and popular outdoor community space Discovery Green Park will maximize its ability to tap into a steady stream of local consumer traffic. More than 13 million visitors traveled to Houston in 2013, spending a combined total of $16 billion. The Convention Center, Toyota Center, and Minute Maid Park each host an estimated average of 80 events per year.
A significant number of new construction projects will further expanding the area’s appeal. Seven new downtown hotels have recently opened or are slated to open by 2018, highlighted by the new 1,000-room Marriott Marquis Houston hotel. An additional 4 new residential apartment buildings are scheduled to be constructed near Pitch 25, and the area is home to luxury developments such as One Park Place Houston and new developments like the 315-unit complex EaDo Station and InTown Homes.Read Less
Brian Ching is a retired professional soccer star who spent eight seasons with the Houston Dynamo and was a six-time MLS All-Star. Brian also played on the men’s U.S. national soccer team from 2003 to 2010, winning the CONCACAF Gold Cup in 2007. Following his retirement from the Houston Dynamo in 2013, Brian became the Managing Director of the newly minted NWSL Houston Dash. Since stepped away from his role with the Dash earlier this year, The Dynamo continue to retain Brian as a Club Ambassador.
He continues to actively participate in Houston-area charitable causes, including serving on the board of Houston Habitat for Humanity. Brian will be very influential in bringing huge soccer events, celebrities, and sponsorships to Pitch 25.
Originally from Colorado, Andy has owned and operated over 14 different restaurants, bars, and nightclubs in Houston. In his previous professional career, Andy worked in Risk Management for Futron (a NASA contractor) in Venture Capital, he was CEO of the US division for NEST USA, and he was the former CEO of The Houston Comets of the WNBA. His foundation in supply chain, procurement, business development, insurance, business strategy and marketing have helped him navigate a wide range of industries and ventures.
Andy is a partner at The Kirby Group, an active local restaurant group that has launched, owned, and operated restaurants and bars in the Houston area since the early 2000's. Andy and business partner Jeff Barati have established a wide range of quality establishments, offering a variety of choices and themes. The team's most recent successful operations include the popular Heights Bier Garten and Wooster's Garden in Midtown.
Andy received his MBA from Rice University.
Jeff Barati owns and operates a number of restaurants, bars, and nightclubs in Houston. Before joining the F&B space, Jeff served in major leadership roles at several Fortune 500 companies, including UBS and Waste Management. His professional evolution is rooted in a strong understanding of finance, accounting, marketing, business development, and business strategy.
Along with business partner Andy Aweida, Jeff operates The Kirby Group. The F&B group has launched and operated numerous bars, lounges, and restaurants in the Houston market for over a dozen years.
Jeff received his MBA from the University of Houston.
March 29, 2018
We want to thank you for being a part of this one of a kind concept and helping to successfully fund our campaign. There are 392 investors spread across our country from as far away as Hawaii to Vermont. This just goes to show us that the love for this beautiful game runs throughout our country. However, this will be more than just a soccer bar, it will be a place for everyone to come and enjoy sports, live music and the company of friends.
Right now, we are still in the middle of construction and moving along quickly. Soon we will remove a section of the outside courtyard’s roof, and utilize that wood to create tables and benches.
In regards to bonus rewards, we are finalizing the scarf design and creating investor cards through our POS system. It is exciting to see everything coming together quickly. We are confident that we can be open near the beginning of May.
Thank you again for taking this adventure with us; we are extremely motivated and excited to make Pitch 25 a special place. We will be working closely with NextSeed and reaching out shortly regarding your bonus rewards and an investor party.
February 1, 2018
We are under full-blown construction at the moment and have made a few minor changes to the design that we think everyone will love! The inside and outside bar will now have over 100 taps each. The area where the soccer field will go has been dug out and ready to have the concrete poured, as you can see in the pictures below. We have framed out the inside and outside bathrooms, storage area, kitchen, inside and outside bars. Currently, we are putting in the electrical and working on putting in the A/C units. Soon we will be building the outside ramps that will be the entrances to Pitch 25. Things are really happening fast now and we are looking to be open sometime in April!
November 14, 2017
We’re super excited about the response from the community, and we wanted to share some of the press coverage we’ve received for Pitch 25.
Thanks for all of your support, Houston – we can’t wait to see you on the pitch.
As seen on the Isiah Factor.