When restaurants need capital, many get creative and some even ask their customers for help. And, membership has its privileges. Move over kick-starter, EquityEats, a creative Washington, DC startup helping the restaurant industry finance, is the new biz in town. The financial tech startup helps fund growth and investment of restaurateurs' businesses by 'crowd funding.' The concept is to turn businesses top clients into ambassadors, having them take ownership for the business by becoming low-dollar investors and giving them perks like specials, food credit and priority treatment.
After a successful effort in DC opening their own restaurant, Prequel, EquityEats is currently partnering with DCity Smokehouse in Washington, DC, Aviaton Rooftop Bar & Kitchen and Maryland's Maggie's Farm,
where owners Andy and Matthew Weaver hope to open a 2nd restaurant in Baltimore's Hamilton-Lauraville neighborhood. "Restaurant B” will be a sort of big brother restaurant to Maggie’s farm-to-table fare, with a new different concept. "While we are waiting to reveal the restaurant name and concept, we will tease a few things,” explains Andy Weaver who owns Maggie’s Farm with her husband Matthew. “It will offer a new marriage between American comfort food and International cuisine. Similar to Maggie’s, this new menu will be a variation on our trademark food, with a new chef and a more refined approach.
Weaver emphasizes that Maggie’s Farm recognizes the value of including its customers in their future expansion. The brand new construction will feature a beautiful woodfire grill, open kitchen, spacious bar and dining room, as well as an outdoor patio and a one-of-a-kind private dining room. Parking will be available both on-site and nearby.
Through EquityEats, the restaurant pays their backers in food credit, via an app and cash. So go eat a steak and you might just be helping invest in your neighborhood 'Cheers Bar'. In 2015, EquityEats raised over $4 million for restaurants all over the country.
Patti Neumann is Publisher/Founder of CITYPEEK.com & an award-winning 21 C Social Media Publicist/Influencer on food, sips, hospitality & the good life. CITYPEEK.com has its finger on the pulse of what's hot in the world of food, cocktails, luxury & travel trends.
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