You cook. We handle everything else.
The big idea
Capital at risk to open a restaurant in a Box. The building, the kitchen, the bar and the back of house are already there. The proprietor holds their own liquor and food licences. No personal guarantee. You bring the menu.
The problem
Most of what you signed for was never the food. That is what is already in your box.
The reframe
Restaurants do not fail because of the food.
They fail because of what they signed.
Sixty one percent of independents close within three years. The people who can cook are not the people who can sign.
Four of every five dollars go to things that almost never close a restaurant.
Two of every three closures come from the two things that cost almost nothing to fund.
We handle the eighty. You enjoy the two.
About 145 seats · 950 sq ft kitchen · 700 patio · 2,200 licensed
About 320 seats · 1,500 kitchen · 1,400 wrapping patio · 4,900 licensed
About 400 seats · 2,000 kitchen · 2,500 terrace · 6,000 licensed · its own lift
The opposite of a food hall. Not a ghost kitchen. Each one has its own kitchen, its own liquor and food licences, its own street door and patio. Behind the wall, one core: dish, cold, dry, ice, receiving, waste, dispatch, the night crew.
Rent is $4.19M of $11.94M. Sixty five percent of the income is not rent.
* Every figure is after stabilisation: all fourteen trading, the Club and the hall at run rate. Model V3.1, before the September roof changes. Full arithmetic in the long deck.
Capped at 800. Initiation, dues, and a food and beverage minimum, forfeited if unused: $1.44M a year that has to land inside the fourteen.
Boxhaus sells the event. The client must pick one of the fourteen to cook. Every wedding is a booking for a restaurant that did no marketing for it.
Memberships sold before ground breaks, 300 at $10,000. Benefits, never upside. Not equity, not debt. From customers.
Demand, held outright. Not rented from an app at thirty points.
Nobody else sits in this seat. We can underwrite what a restaurant is worth on its worst day.
The register
The labour schedule
The full occupancy cost
Purchasing at landed cost
Licence compliance and the food ratio
Energy and cold, by kitchen
What happens when one fails
Landlord, dish pit, cold store, purchaser, dispatcher and payment facilitator at once. Anyone can copy the building. Nobody can buy the data.
A plan that needs a retail offering to break ground cancels itself, so the order is flipped: private money and a membership first, the public on a trading building. Bars are equity value at each step, building one and two only.
Four entities. BOX Holding Co is the issuer. Operating Co holds the Engine, Real Estate Co the buildings, Media Co the show. The mortgage secures real property only: no lien on the Engine, no personal guarantee. The exit is a split, not a sale.
Settled: the building, the brand, the mechanisms, the lender's terms, site one. Assumed, and said so: hard cost, land, sales, the Sky Boxes, the Club. Unknown: the four above, and whether we become an operator by accident. The filter on every new line: does it get more valuable as venue count grows, or only bigger?
Every industry got its platform. Restaurants got a lease.
Fourteen restaurants do not make a company. They make a credit bureau with a kitchen. Perks are benefits inside the building, not a return. Every bracket is set with counsel.
The invitation
Fourteen doors.
Ten to twenty founding investors.
The founding window is open now. The seats are few. The doors are fourteen.
Claim a founding allocation