Scoop: RESTAURANT STARTUP on CNBC - Tuesday, July 29, 2014
07/29/14: Restaurant Startup #104 - Small Plate, Big Money
Small-plate concepts are taking Los Angeles by storm. Joe Bastianich, and Tim Love, who are always looking for their next investment opportunity, are excited to hear from two L.A. based businesses hoping to make their mark in this world. First up, Bling Bling Dumplings, run by a pair of best friends, is a catering and farmer's market staple in the city, but the pair is obviously green when it comes to business. The investors also hear from a Michelin-trained chef and his wife who want to transition their Mills & Co brand of high-quality charcuterie from selling at local farmers markets to a combined restaurant/retail space. Will either team realize their culinary dream?
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.