Scoop: RESTAURANT STARTUP on CNBC - Tuesday, August 26, 2014
08/26/14: Restaurant Startup #108 - The Best Ingredient for Investment
Restaurateurs and investors Joe Bastianich and Tim Love are looking into single ingredient restaurant concepts this week. They hear pitches from The Whole Beast, a successful snout to tail catering company, created by a chef and his wife, looking to move into a brick and mortar restaurant. The second pitch comes from Bon Chovie - a small anchovy themed pop up, run by a couple, recently divorced, who want a more permanent location. Bon Chovie's concept of a rock 'n' roll, maritime mash-up restaurant has had a strong draw from younger crowds at local farmers markets and food fairs. Which concept has better profit potential and will it be enough to make a deal with one of our investors?
About Restaurant Startup:
"Restaurant Startup" is on a quest to discover, invest in and launch America's next great culinary concepts. Restaurateur and TV personality Joe Bastianich and chef and restaurant operator, Tim Love, vie against each other to invest their own money in food concepts they believe will make them millions. Each week, two teams pitch our investors, Bastianich and Love, for a shot at launching a temporary version of their great concept for a restaurant or a specialty food shop. The chosen team is given the keys to a working restaurant on Melrose Avenue in Los Angeles. They get 36 hours and $7,500 to put their dream to the test and launch a pop-up restaurant; come up with a branding campaign; and write a business plan. Under the watchful eye of Joe and Tim's culinary consultant, Waylynn Lucas, the aspiring food moguls open their doors, serve their food and test their concept on the public. At the end of the process, our two investors will decide whether or not they will put their own money on the line to make someone's dream come true and, hopefully, make big money for themselves.