McClure's BBQ (1 Viewer)

[Abraham]

I know, I'm the one who brought it up.

Sounds you are in charge then.

Tipsy will need to pay me a fee to organize it for him. Say....half a brisket and two slabs of ribs.

 

[tipsy mcstagger]

I'd pitch in a few grand depending on how you structure it. I'm sure some others here would as well.Eta - I bet you could sell 100 shares at $1k each, minimum of two or three, pretty quickly. Structure it so the initial investment can be paid back within 24 months then have the shares represent 10% ownership. Pay an annual dividend. Build in an option for you to rebuy the shares. Really easy.

If you wanted to set this up...im sure having a third party do it will lend more cred...and your return will be greater than brisket (which i owe you already). Plus...if im raising capital on the boards...having someone with staff connections would probably be advantageous. Tiger Fan will be in charge of the local fundraising...if Abraham doesn't want that task for the board...i'm sure i can make it worth his while down the road.A FFA funded restaurant...this could be huge. And fwiw...i sold 1000 on friday @ a bar...and after my costs that was about a 50% profit night. BBQ = solid return.

 

[Abraham]

I'll send you an email Tonorrow to get the ball rolling.

 

[tipsy mcstagger]

I'll send you an email Tonorrow to get the ball rolling.

sweet. i want the deal to be too sweet for any fbg with a few grand to invest to walk away from.

 

[Otis]

I'd invest 5k as one of 20 investors. No question.

 

[tipsy mcstagger]

I'd invest 5k as one of 20 investors. No question.

/ 95k to go.

 

[PinkydaPimp]

I'd pitch in a few grand depending on how you structure it. I'm sure some others here would as well.Eta - I bet you could sell 100 shares at $1k each, minimum of two or three, pretty quickly. Structure it so the initial investment can be paid back within 24 months then have the shares represent 10% ownership. Pay an annual dividend. Build in an option for you to rebuy the shares. Really easy.

If you wanted to set this up...im sure having a third party do it will lend more cred...and your return will be greater than brisket (which i owe you already). Plus...if im raising capital on the boards...having someone with staff connections would probably be advantageous. Tiger Fan will be in charge of the local fundraising...if Abraham doesn't want that task for the board...i'm sure i can make it worth his while down the road.A FFA funded restaurant...this could be huge. And fwiw...i sold 1000 on friday @ a bar...and after my costs that was about a 50% profit night. BBQ = solid return.

 

[Guster]

I'd invest 5k as one of 20 investors. No question.

/ 95k to go.

In for 2k

 

[gianmarco]

I'd be in.

 

[ragincajun]

Interesting..............

 

[glumpy]

I'd pitch in a few grand depending on how you structure it. I'm sure some others here would as well.Eta - I bet you could sell 100 shares at $1k each, minimum of two or three, pretty quickly. Structure it so the initial investment can be paid back within 24 months then have the shares represent 10% ownership. Pay an annual dividend. Build in an option for you to rebuy the shares. Really easy.

If you wanted to set this up...im sure having a third party do it will lend more cred...and your return will be greater than brisket (which i owe you already). Plus...if im raising capital on the boards...having someone with staff connections would probably be advantageous. Tiger Fan will be in charge of the local fundraising...if Abraham doesn't want that task for the board...i'm sure i can make it worth his while down the road.A FFA funded restaurant...this could be huge. And fwiw...i sold 1000 on friday @ a bar...and after my costs that was about a 50% profit night. BBQ = solid return.

IN!!

 

[Abraham]

I'll talk tomorrow with Tipsey and will report back. For those interested, the whole thing will have solid documentation and legal status and whatnot. The stickin point is likely to be the McClure's BbQ action figure set and branded charcoal line, but I'm sure we can work it out.

 

[mr roboto]

I may be in. PM me if/when things get serious.

 

[ragincajun]

I may be in. PM me if/when things get serious.

Same here. Would be curious on the details.

 

[marshall88]

I'll talk tomorrow with Tipsey and will report back. For those interested, the whole thing will have solid documentation and legal status and whatnot. The stickin point is likely to be the McClure's BbQ action figure set and branded charcoal line, but I'm sure we can work it out.

I work with syndicators that do this for a living (buying real estate). Your idea to sell an interest in the restaurant is the sale of a "security" as far as the SEC is concerned. If you want to do this right (and you do - or else run the risk of lawsuits from unhappy investors or possibly SEC sanctions - though that's probably not likely for such a small venture), I think you'll have to do a Regulation D offering and keep it under 35 investors. Luckily for you, with the recent passage of the "JOBS Act" the restrictions on "general solicitation" of investors (previously prohibited under Reg D) was removed, so I think you will be ok to proceed. However, I think there may be a requirement that any investors from a "general solicitation" - and I'm not sure if an internet message board would constitute "general solicitation" - must only be "accredited investors". With respect to individuals, an accredited investor is someone with a net worth of $1M or more (excluding the value of their house) or someone who has earned $200K/year ($300K/year if married) for the last 2 years and has the reasonable expectation of earning that money in the current year. I can give you more details if this investment becomes a reality.I'm interested in investing.

 

[Abraham]

We have the accreditation part (and waiver of status) ready to go. Good eye.

 

[eaganwildcats]

Just finished catching up on the last few pages. So freaking cool. Congrats Tipsy

 

[tipsy mcstagger]

I'll talk tomorrow with Tipsey and will report back. For those interested, the whole thing will have solid documentation and legal status and whatnot. The stickin point is likely to be the McClure's BbQ action figure set and branded charcoal line, but I'm sure we can work it out.

I work with syndicators that do this for a living (buying real estate). Your idea to sell an interest in the restaurant is the sale of a "security" as far as the SEC is concerned. If you want to do this right (and you do - or else run the risk of lawsuits from unhappy investors or possibly SEC sanctions - though that's probably not likely for such a small venture), I think you'll have to do a Regulation D offering and keep it under 35 investors. Luckily for you, with the recent passage of the "JOBS Act" the restrictions on "general solicitation" of investors (previously prohibited under Reg D) was removed, so I think you will be ok to proceed. However, I think there may be a requirement that any investors from a "general solicitation" - and I'm not sure if an internet message board would constitute "general solicitation" - must only be "accredited investors". With respect to individuals, an accredited investor is someone with a net worth of $1M or more (excluding the value of their house) or someone who has earned $200K/year ($300K/year if married) for the last 2 years and has the reasonable expectation of earning that money in the current year. I can give you more details if this investment becomes a reality.I'm interested in investing.

see...this is why the FFA is so awesome. people smart. Tipsy stupid. luckily i can make good food and run a restaurant better than most out there.

 

[Keerock]

:in:

 

[PinkydaPimp]

im probably in for 1k.

 

[BigJohn]

I'll talk tomorrow with Tipsey and will report back. For those interested, the whole thing will have solid documentation and legal status and whatnot. The stickin point is likely to be the McClure's BbQ action figure set and branded charcoal line, but I'm sure we can work it out.

I work with syndicators that do this for a living (buying real estate). Your idea to sell an interest in the restaurant is the sale of a "security" as far as the SEC is concerned. If you want to do this right (and you do - or else run the risk of lawsuits from unhappy investors or possibly SEC sanctions - though that's probably not likely for such a small venture), I think you'll have to do a Regulation D offering and keep it under 35 investors. Luckily for you, with the recent passage of the "JOBS Act" the restrictions on "general solicitation" of investors (previously prohibited under Reg D) was removed, so I think you will be ok to proceed. However, I think there may be a requirement that any investors from a "general solicitation" - and I'm not sure if an internet message board would constitute "general solicitation" - must only be "accredited investors". With respect to individuals, an accredited investor is someone with a net worth of $1M or more (excluding the value of their house) or someone who has earned $200K/year ($300K/year if married) for the last 2 years and has the reasonable expectation of earning that money in the current year. I can give you more details if this investment becomes a reality.I'm interested in investing.

Am I reading this right? <_<

 

[marshall88]

I'll talk tomorrow with Tipsey and will report back. For those interested, the whole thing will have solid documentation and legal status and whatnot. The stickin point is likely to be the McClure's BbQ action figure set and branded charcoal line, but I'm sure we can work it out.

I work with syndicators that do this for a living (buying real estate). Your idea to sell an interest in the restaurant is the sale of a "security" as far as the SEC is concerned. If you want to do this right (and you do - or else run the risk of lawsuits from unhappy investors or possibly SEC sanctions - though that's probably not likely for such a small venture), I think you'll have to do a Regulation D offering and keep it under 35 investors. Luckily for you, with the recent passage of the "JOBS Act" the restrictions on "general solicitation" of investors (previously prohibited under Reg D) was removed, so I think you will be ok to proceed. However, I think there may be a requirement that any investors from a "general solicitation" - and I'm not sure if an internet message board would constitute "general solicitation" - must only be "accredited investors". With respect to individuals, an accredited investor is someone with a net worth of $1M or more (excluding the value of their house) or someone who has earned $200K/year ($300K/year if married) for the last 2 years and has the reasonable expectation of earning that money in the current year. I can give you more details if this investment becomes a reality.I'm interested in investing.

Am I reading this right? <_<

I'm not sure how you're reading it, but it is correct.

 

[BigJohn]

I'll talk tomorrow with Tipsey and will report back. For those interested, the whole thing will have solid documentation and legal status and whatnot. The stickin point is likely to be the McClure's BbQ action figure set and branded charcoal line, but I'm sure we can work it out.

I work with syndicators that do this for a living (buying real estate). Your idea to sell an interest in the restaurant is the sale of a "security" as far as the SEC is concerned. If you want to do this right (and you do - or else run the risk of lawsuits from unhappy investors or possibly SEC sanctions - though that's probably not likely for such a small venture), I think you'll have to do a Regulation D offering and keep it under 35 investors. Luckily for you, with the recent passage of the "JOBS Act" the restrictions on "general solicitation" of investors (previously prohibited under Reg D) was removed, so I think you will be ok to proceed. However, I think there may be a requirement that any investors from a "general solicitation" - and I'm not sure if an internet message board would constitute "general solicitation" - must only be "accredited investors". With respect to individuals, an accredited investor is someone with a net worth of $1M or more (excluding the value of their house) or someone who has earned $200K/year ($300K/year if married) for the last 2 years and has the reasonable expectation of earning that money in the current year. I can give you more details if this investment becomes a reality.I'm interested in investing.

Am I reading this right? <_<

I'm not sure how you're reading it, but it is correct.

I'm in no way doubting that you are correct. I have zero investing knowledge.Does every person that wants to invest in McClure's have to have a $1 mill net worth or made 200 gr the last 2 years? Again, I have no knowledge whatsoever, but that sounds ridiculous.

 

[NRV77]

I'm interested.

 

[AcerFC]

Dont forget about me

 

[Guster]

I'll talk tomorrow with Tipsey and will report back. For those interested, the whole thing will have solid documentation and legal status and whatnot. The stickin point is likely to be the McClure's BbQ action figure set and branded charcoal line, but I'm sure we can work it out.

I work with syndicators that do this for a living (buying real estate). Your idea to sell an interest in the restaurant is the sale of a "security" as far as the SEC is concerned. If you want to do this right (and you do - or else run the risk of lawsuits from unhappy investors or possibly SEC sanctions - though that's probably not likely for such a small venture), I think you'll have to do a Regulation D offering and keep it under 35 investors. Luckily for you, with the recent passage of the "JOBS Act" the restrictions on "general solicitation" of investors (previously prohibited under Reg D) was removed, so I think you will be ok to proceed. However, I think there may be a requirement that any investors from a "general solicitation" - and I'm not sure if an internet message board would constitute "general solicitation" - must only be "accredited investors". With respect to individuals, an accredited investor is someone with a net worth of $1M or more (excluding the value of their house) or someone who has earned $200K/year ($300K/year if married) for the last 2 years and has the reasonable expectation of earning that money in the current year. I can give you more details if this investment becomes a reality.I'm interested in investing.

Am I reading this right? <_<

I'm not sure how you're reading it, but it is correct.

I'm in no way doubting that you are correct. I have zero investing knowledge.Does every person that wants to invest in McClure's have to have a $1 mill net worth or made 200 gr the last 2 years? Again, I have no knowledge whatsoever, but that sounds ridiculous.

That's how I read it too, but I'm guessing that applies to a different case of investing.Otherwise we'd be calling this the Joe-tis Chet McClure's Barbecue thread

 

[marshall88]

I'll talk tomorrow with Tipsey and will report back. For those interested, the whole thing will have solid documentation and legal status and whatnot. The stickin point is likely to be the McClure's BbQ action figure set and branded charcoal line, but I'm sure we can work it out.

I work with syndicators that do this for a living (buying real estate). Your idea to sell an interest in the restaurant is the sale of a "security" as far as the SEC is concerned. If you want to do this right (and you do - or else run the risk of lawsuits from unhappy investors or possibly SEC sanctions - though that's probably not likely for such a small venture), I think you'll have to do a Regulation D offering and keep it under 35 investors. Luckily for you, with the recent passage of the "JOBS Act" the restrictions on "general solicitation" of investors (previously prohibited under Reg D) was removed, so I think you will be ok to proceed. However, I think there may be a requirement that any investors from a "general solicitation" - and I'm not sure if an internet message board would constitute "general solicitation" - must only be "accredited investors". With respect to individuals, an accredited investor is someone with a net worth of $1M or more (excluding the value of their house) or someone who has earned $200K/year ($300K/year if married) for the last 2 years and has the reasonable expectation of earning that money in the current year. I can give you more details if this investment becomes a reality.I'm interested in investing.

Am I reading this right? <_<

I'm not sure how you're reading it, but it is correct.

I'm in no way doubting that you are correct. I have zero investing knowledge.Does every person that wants to invest in McClure's have to have a $1 mill net worth or made 200 gr the last 2 years? Again, I have no knowledge whatsoever, but that sounds ridiculous.

That's how I read it too, but I'm guessing that applies to a different case of investing.Otherwise we'd be calling this the Joe-tis Chet McClure's Barbecue thread

The SEC has yet to release the new rules regarding Reg D offerings after the recent passage of the JOBS Act. However, based on the current law and the JOBS Act, I believe the SEC rules will state that any investors obtained for a Reg D offering through general solicitation must be accredited investors.There are several exceptions to the Reg D requirements of accredited investors - such as family members, insiders, etc. - I'm just not sure if a fellow FBG message board participant would qualify for one of those exceptions.

Edited to directly answer Big John's and Guster's questions: Yes. While there is no doubt hundreds of investment opportunities around the country where people invest in another's business without being accredited investors - in most of those cases, the person running the investment is violating SEC laws. The SEC ruled long ago that the sale of a membership interest in an LLC to a person, where that person is simply a passive investor and is relying upon the expertise of another member of the LLC, is the sale of a "security" under SEC laws. Once you are selling a "security" in order to do it "legal" as Abraham suggested, you have to comply with the Securities Act or you have to have an exemption from the Act. Reg D is an exemption from the Act, but in order to qualify for that exemption, the SEC wants to make sure that the "little guy" is protected. So, they invented the accredited investor concept - which is a subjective demarcation that the SEC believes represents a person that would have sufficient savy and investment knowledge and resources so that the investor won't get screwed on the investment due to the lack of disclosures being made by the company selling securities (because full compliance with the Act requires all sorts of public disclosures).

So, I'm not saying that Tipsy has to turn away any non-accredited investors. I'm just saying that if he doesn't, then he won't qualify for a Reg D offering and will likely be violating the Securities Act of 1933. Sorry for the bad news.

 

[gandalas]

im probably in for 1k.

Me as well. I don't know if I can swing 2K, but if necessary I may be able to come up with it.So...us investors get free food, right? (not an issue as I live in Central Ohio, but in case I am ever down that way... )

 

[Guster]

The SEC has yet to release the new rules regarding Reg D offerings after the recent passage of the JOBS Act. However, based on the current law and the JOBS Act, I believe the SEC rules will state that any investors obtained for a Reg D offering through general solicitation must be accredited investors.There are several exceptions to the Reg D requirements of accredited investors - such as family members, insiders, etc. - I'm just not sure if a fellow FBG message board participant would qualify for one of those exceptions.

What if it was set up as a raffle where you had to pay $1k for a ticket and the prize for winning the raffle was a stake in the barbecue company. And there were 100 tickets sold. And 100 winners. ??

 

[gandalas]

I'll talk tomorrow with Tipsey and will report back. For those interested, the whole thing will have solid documentation and legal status and whatnot. The stickin point is likely to be the McClure's BbQ action figure set and branded charcoal line, but I'm sure we can work it out.

I work with syndicators that do this for a living (buying real estate). Your idea to sell an interest in the restaurant is the sale of a "security" as far as the SEC is concerned. If you want to do this right (and you do - or else run the risk of lawsuits from unhappy investors or possibly SEC sanctions - though that's probably not likely for such a small venture), I think you'll have to do a Regulation D offering and keep it under 35 investors. Luckily for you, with the recent passage of the "JOBS Act" the restrictions on "general solicitation" of investors (previously prohibited under Reg D) was removed, so I think you will be ok to proceed. However, I think there may be a requirement that any investors from a "general solicitation" - and I'm not sure if an internet message board would constitute "general solicitation" - must only be "accredited investors". With respect to individuals, an accredited investor is someone with a net worth of $1M or more (excluding the value of their house) or someone who has earned $200K/year ($300K/year if married) for the last 2 years and has the reasonable expectation of earning that money in the current year. I can give you more details if this investment becomes a reality.I'm interested in investing.

Am I reading this right? <_<

I'm not sure how you're reading it, but it is correct.

I'm in no way doubting that you are correct. I have zero investing knowledge.Does every person that wants to invest in McClure's have to have a $1 mill net worth or made 200 gr the last 2 years? Again, I have no knowledge whatsoever, but that sounds ridiculous.

That's how I read it too, but I'm guessing that applies to a different case of investing.Otherwise we'd be calling this the Joe-tis Chet McClure's Barbecue thread

The SEC has yet to release the new rules regarding Reg D offerings after the recent passage of the JOBS Act. However, based on the current law and the JOBS Act, I believe the SEC rules will state that any investors obtained for a Reg D offering through general solicitation must be accredited investors.There are several exceptions to the Reg D requirements of accredited investors - such as family members, insiders, etc. - I'm just not sure if a fellow FBG message board participant would qualify for one of those exceptions.

Surely we would qualify under that loophole? I would assume participation in this thread would constitute "Inside Information" (but I have no REAL idea)Would really suck if not.

 

[BigJohn]

The SEC has yet to release the new rules regarding Reg D offerings after the recent passage of the JOBS Act. However, based on the current law and the JOBS Act, I believe the SEC rules will state that any investors obtained for a Reg D offering through general solicitation must be accredited investors.There are several exceptions to the Reg D requirements of accredited investors - such as family members, insiders, etc. - I'm just not sure if a fellow FBG message board participant would qualify for one of those exceptions.

What if it was set up as a raffle where you had to pay $1k for a ticket and the prize for winning the raffle was a stake in the barbecue company. And there were 100 tickets sold. And 100 winners. ??

We could throw in a Wade Boggs card, just to make sure everything was legit.

 

[tipsy mcstagger]

Working out the details for the investment. But trying to set it up so you all get paid back quickly and then can be bought out giving individual investors close to a 30% ROI within 2-3 years...if im reading the emails correctly that is.

 

[fakepunt]

How about this?

A partnership is created with 100(?) shares. Each share cost $1,000. The partnership then decides to invest/partner with McClure's Barbecue.

Owners -- 10% Partnership, 90% Tipsy

Or something like that... Perhaps this allows you to skirt the legal issues presented above?

By the way, I love this thread and check in with it all of the time.

Congrats Tipsy! You are living the dream of many...

 

[Abraham]

There are ways around the accreditation thing. We are working on that now.

 

[[icon]]

Good chance I'll be in for a grand as well.

 

[PinkydaPimp]

Tipsy, my company is having a convention down there in July(YES I GET MORE BBQ!). They are going to give your info to the attendees as a recommended place to eat.

 

[Tiger Fan]

I know it's a bit of a stretch, but funding this thing 100% via message board would have to get some great pub. I know they have stuff like kickstarter...but via message board speaks to a much stronger community than a bunch of "randoms". Would speak volumes for tipsy and FBgs

 

[BigJohn]

I know it's a bit of a stretch, but funding this thing 100% via message board would have to get some great pub. I know they have stuff like kickstarter...but via message board speaks to a much stronger community than a bunch of "randoms". Would speak volumes for tipsy and FBgs

bingo.

 

[PinkydaPimp]

I know it's a bit of a stretch, but funding this thing 100% via message board would have to get some great pub. I know they have stuff like kickstarter...but via message board speaks to a much stronger community than a bunch of "randoms". Would speak volumes for tipsy and FBgs

bingo.

If anyone gets interviewed, wear a wade boggs jersey.

 

[GrandpaRox]

I would be in for 5K, need to supplement my social security. GrandmaRox has already agreed. Depends on the details of course but on its face seems like a great idea.

 

[Johnny Rock]

I'm interested in details too.

 

[rickyjgo]

Good luck with this Tipsy! I think your story has been fantastic to this point and I am inspired by you going after something on this scale. I don't have the balls, plan, or skills at this point to jump into my own venture, but I would love to be a small part of yours. If it gets to the point that you are taking on investors I would love to be involved (short lived as it may be). I can offer anywhere from $1k to $5k depending on need.

 

[tipsy mcstagger]

If I am looking at this correctly we (theoretically) are closing in on half way to the goal and we haven't really even started the process....you guys are ridiculous.

 

[AcerFC]

If I am looking at this correctly we (theoretically) are closing in on half way to the goal and we haven't really even started the process....you guys are ridiculous.

I told my wife not to worry, Tipsy is good peeps. She didnt say NO

 

[tipsy mcstagger]

If I am looking at this correctly we (theoretically) are closing in on half way to the goal and we haven't really even started the process....you guys are ridiculous.

I told my wife not to worry, Tipsy is good peeps. She didnt say NO

fellow Rangers fan if that helps

 

[cheese]

I'm interested in details too.

 

[tipsy mcstagger]

I'm interested in details too.

Here is a preview of things being discussed:Ownership package will include t-shirt(s), bottles of rub & sauce, free beer (sorry...free bbq will bankrupt me...i plan on giving away little to nothing in my first years unless its a straight donation...even my mom will be paying for food ) , ...big investors will get a pig roast party for them & 100 friends...bigger investors get that on their own property with me & my mobile rig anywhere inside the lower 48 & parts of Canada....and all investors get a vote on which beers go on tap.For the lower end of things...I am going to have a fundraiser involving purchasing planks on each table branded with your name, or a brick with your name on it built into the pit itself. To be an investor we are going to have to have a minimum investment level I believe...this will allow folks to participate even at the smallest level of $100 bucks. The pit naming rights are also up for sale. McClure's Barbecue Pit brought to you by Mercedes Benz....no...name it after your dog, or dad, or grandma...no corporate names.

 

[Guster]

I'm interested in details too.

Here is a preview of things being discussed:Ownership package will include t-shirt(s), bottles of rub & sauce, free beer (sorry...free bbq will bankrupt me...i plan on giving away little to nothing in my first years unless its a straight donation...even my mom will be paying for food ) , ...big investors will get a pig roast party for them & 100 friends...bigger investors get that on their own property with me & my mobile rig anywhere inside the lower 48 & parts of Canada....and all investors get a vote on which beers go on tap.For the lower end of things...I am going to have a fundraiser involving purchasing planks on each table branded with your name, or a brick with your name on it built into the pit itself. To be an investor we are going to have to have a minimum investment level I believe...this will allow folks to participate even at the smallest level of $100 bucks. The pit naming rights are also up for sale. McClure's Barbecue Pit brought to you by Mercedes Benz....no...name it after your dog, or dad, or grandma...no corporate names.

Very kickstarter-esque

 

[AcerFC]

Can we agree to take the better space that is not near the other BBQ place

 

[Tiger Fan]

I'm interested in details too.

Here is a preview of things being discussed:Ownership package will include t-shirt(s), bottles of rub & sauce, free beer (sorry...free bbq will bankrupt me...i plan on giving away little to nothing in my first years unless its a straight donation...even my mom will be paying for food ) , ...big investors will get a pig roast party for them & 100 friends...bigger investors get that on their own property with me & my mobile rig anywhere inside the lower 48 & parts of Canada....and all investors get a vote on which beers go on tap.For the lower end of things...I am going to have a fundraiser involving purchasing planks on each table branded with your name, or a brick with your name on it built into the pit itself. To be an investor we are going to have to have a minimum investment level I believe...this will allow folks to participate even at the smallest level of $100 bucks. The pit naming rights are also up for sale. McClure's Barbecue Pit brought to you by Mercedes Benz....no...name it after your dog, or dad, or grandma...no corporate names.

Sweet.Is the brick/pit thing for the carondelet location or the "final" location?