New startup EquityEats is lowering the barriers to investing in restaurants, making it possible for slightly more average Joes to support a concept they believe in. It's also breaking the crowdfunding mold. For starters, investors have the opportunity to earn profit, not just perks, and in 2015, it'll allow non-accredited investors to contribute (they hope), fundamentally transforming equity crowdfunding. “With entry investments set at $2,500 or $5,000, you’ll be able to call yourself a restaurant mogul after investing in 10 concepts,” VP of Communications & Strategy Steve Lucas tells us. We chatted with him about the group’s goals at Slipstream.
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EquityEats currently has four restaurant entrepreneurs actively raising capital using its online platform, including a seafood counter and a bakery, with more in the pipeline. Expect to see pop-ups in 2015 that allow potential investors (and the public!) to try products. “People want to eat local, shop local, why not invest local,” Steve says. What also separates EquityEats from the pack is its work isn’t over once the doors open. It will offer clients data-driven technology platforms to assist with operations as a part of its overall goal to reduce restaurant failure.
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