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Megan
Will investors be provided a monthly financial report?
NextSeed
Hi Megan, we will provide investors with annual reports as required by law. We're also enrolled in NextSeed's Payment Automation Service.
Jonathan
Hello - The pro forma financial statements assume that the maximum offering amount of $360K is raised, with funds beyond the initial $200K being used for various enhancement purposes (as shown on p.11 of the offering document). Do you have a "downsid ...
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NextSeed
Hello Jonathan. Our team is committed to providing the balance of the funding (if necessary) to ensure we have the total funds we need to effectively operate and promote the business. Therefore, no downside model is needed.
Michael
Hello, first of all congratulations on your trio of restaurants, I know first hand the restaurant business is not for the faint of heart. My question is, have you seen your Yelp feedback for your current Blu lounge in that space? While I understand t ...
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NextSeed
Hi, Mike. Yes, we have a good pulse on our social presence - both the good and the bad - thank you for the note. Having said that, BLU & The Sugar Refinery are two entirely different concepts, significantly affecting how we're able to manage custome ...
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Jay
Hello - Under "Use of Proceeds", (if $360K), you have earmarked $50K for Marketing/Advertising/Promotions for the first year. Yet, you forecast Marketing/Advertising expenses of approximately $14K, $16K and $18K for years 1, 2 and 3, respectively. ...
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NextSeed
Hi, Jay. The forecast reflects ongoing expenses for the business once operational. The additional $50,000 in Marketing/Advertising spend on our launch plans is on top of those forecasts. How and when that is spent is going to depend on the final amou ...
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Kevin
Can the issuer give any guidance to what the IRR of this investment might be? I fully understand that revenue and profits in the restaurant industry can be volatile, just trying to better understand what their projections for this project might be. A ...
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NextSeed
Hello Kevin, please see pages 7-8 of the Disclosure Statement, which include our financial forecast for the next 4 years based on reasonable assumptions using local industry standards.
Yau
I like the concept but have questions before deciding whether to invest. The artistic rendering of the front of the proposed Sugar Refinery shows hardly any windows. Is that the final look of the business? It's usually better to have windows, so pote ...
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NextSeed
Hello Yau, the Sugar Refinery is a prohibition-era cocktail bar that emulates secret underground bars that existed in the early 1920’s. These bars were secret establishments that provided patrons privacy and intimacy. While it’s true that people a ...
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Ashley
Looking forward to seeing the final results! You mention the use of herbs and fruit in the cocktails; will this be a pre-mix? Have you looked into using local/ organic growers for any of the ingredients? Thank you!
NextSeed
Ashley, yes, we will look at all local sources, not just for herbs and beverage ingredients, but also for food products.
Travis
Very interesting concept for Sugar Land, but have some concerns about the products for the cocktail menu as I have found no information on it. Who is creating it? What products will be featured? In the area there is a heavy concentration of craft bee ...
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The Sugar Refinery
ISSUER
Thanks for the interest, Travis. We are working with a very seasoned Las Vegas-based mixologist (prior work experience includes Mario Batali’s B&B Ristorante, Caesars Palace, Carnevino Steakhouse, etc) to create the cocktail menu for The Sugar Refine ...
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Travis
Okay, do have any menus or products you can display to give an idea of your offering? From your reply it appears that cocktails will be a higher part of the alcohol sales. Looking for a little more detail on the product mixture and variety, I'm not i ...
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NextSeed
Hello Travis, our drink menu is under development and we will share it with our potential investors as soon as it is ready. Note that you seem to have misunderstood my answer - we will not have 200+ wines, but we will have an extensive liquor selecti ...
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Shiju
Hello. Sounds like a great concept. The overview of this opportunity states, "projected first-year revenue of over $2.5 million" yet in the disclosure first-year revenue shows $1.8 million - please clarify this discrepancy. Thanks!
NextSeed
Hi Shiju, that seems to have been a clerical error, thank you for pointing it out! The overview page has been updated to reflect the correct number - $1.8 million.
Ryan
I have a few comments and questions: (A) Access. How widespread is uber usage in suburban Houston? I love the proposed space and the aesthetic, but I am concerned about patrons' ability to enjoy more than one or two drinks before having to drive ho ...
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The Sugar Refinery
ISSUER
Hi, Ryan. 1. Access - Uber is readily available in Sugar Land, and more so in and around Town Square. In fact, several patrons at BLU regularly hail Uber on weekends 2. Cultural Fit – Sugar Land is one of the most affluent and fastest-gro ...
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David
Curious how BLU did financially in its 5 years of operations. Why not just find another area in Town Center to buildout this venture? Thanks in advance for the info. -DK
NextSeed
Hello David, BLU did extremely well during this time period. However, as is the case with most nightclubs, business is stronger on weekends and BLU is only open four days/week from Wed to Saturday. Additionally, BLU has been in business over 5 years ...
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ANDREAS
Excited to get in on the ground floor of this investment opportunity. Sending best wishes from Dallas, TX.
Sonja
Since you are converting the current Blu Restaurant and Lounge to Sugar Refinery will you be keeping the same management and staff or simply re-training?
The Sugar Refinery
ISSUER
Good question, Sonja. We are only retraining a handful of employees and are hiring additional staff for the new concept.
Dustin
Is the owner putting out any cash into the development of the business or just from the crowd funding? Also, is the BLU Lounge still in business or close down already?
Ryan
As of last night they are still in bussiness. I am a frequent patron to the area.
The Sugar Refinery
ISSUER
Hi Dustin! As disclosed in the accountant's review report attached in the Disclosure Statement, the sole member is contributing $65K in cash and in-kind assets to fund start-up expenses, including prepaid insurance premium and inventory. Addition ...
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