Vegetarian Cuisine from Heart{land}
Hi! Ian from Three Carrots here. As some of you may know, Three Carrots is an entirely vegan restaurant in Indianapolis, Indiana. For the past two years we have been serving delicious vegan food to happy customers out of a lunch counter at the City Market. While this has been an awesome experience for us, we have reached a limit to the amount of people we can serve with the limited space we have. We have been very fortunate to receive a high amount of support and acclaim during this time. We were voted Indy's Best New Restaurant and Indy's Best Vegetarian Joint. We are currently at or near the top in overall Yelp! review scores. We have had the good fortune of being named alongside some of Indianapolis's top chefs and restaurants (Much to my amazement, believe me!) And we have done all of this with 150 square feet and a panini press. We also have probably the most dedicated customer base of any restaurant I have ever personally witnessed, and for everything I thank you.
In February, we signed a Letter of Intent to open a brick and mortar, full service space in Fountain Square. With the brick and mortar location, we would have be able to have a larger menu with more options, expanded hours, beer and wine service, and build upon what we have created in the City Market.
When we made the announcement of our space, we received a TON of support and interest in how it was going and when we are going to open. We have made it through a lot of the early planning stages, and moving on to our next phase: raising some money.
What Do You Need?
Good question! We are asking for at least $22,000 to get everything started. Opening a restaurant is pretty expensive and banks aren't as stoked on giving money to restaurants, especially if there hasn't been a comparable restaurant that has opened and been successful. In a lot of ways, this becomes a self-fulfilling prophesy - banks don't want to lend to new ideas and then new ideas don't get the financial backing they need, therefore they don't do that well financially. And that's why we can get a million steakhouses and sports bars, but not a lot of awesome vegan spots in this city.
To a certain extent, we've been able to throw a wrench in that program due to the fact that we built out our City Market location with cash that we'd saved up by selling our food. That is why banks and lenders are even taking us somewhat seriously. Nowadays, they can tell that we have a good idea, are doing it well, and have a developed customer base. But having a business that works and makes money only gets you so far. You need to have some cold-hard cash to show to a bank before they'll really listen to you.
We have anticipated a total build-out cost for our brick and mortar location to be around $300,000. So why aren't we asking for $300,000? Because that's crazy! We are asking for $22,000 (which is actually $20,000 plus $2,000 or so that will go to Indiegogo). But, if we can couple the $20,000 with our current assets and some help from some larger investors we have lined up, we can take a package to the bank that they'll have a hard time refusing.
What Do I Get?
Another good question! Well, if you look at the series of perks, they're pretty cool. We have some sweet merch and swag for contributions under $500. If you generously contribute more than $500, you can have me come to your house and cook some friends a three-course meal; get invited to an exclusive soft-opening event; or get a free cooking lesson. If you contribute at the $1,000 or more level, you can get a dish named after you. At $5,000 you can get a free party at the restaurant once we're opened. Check it out! All kinds of sweet stuff!
Also, regardless of how much you contribute, you can know that every cent you contribute will go to opening up this restaurant and that it will come with such immense gratitude from myself and everyone who works for Three Carrots. We have been working so hard to make this happen and whatever you can contribute to help turn our dream into a reality means so much to us. (I'm choking up just writing this.) Seriously, this all is awesome, and I couldn't be more grateful.
What Are The Risks?
Like any business venture, there are risks involved. It may be the case that even if we go to a bank with all of our assets and contributions that bank will still say "no." But if they do, we'll just keep hustling and move on to other banks, continuing to save up more money in the process. The buildout may be more expensive than we planned or the building may be haunted. While we don't have a contingency plan for a haunted building, we do have some contingencies in place to help prepare for the unexpected. Most of this relies on that fact that, while a lot of start-up businesses are either losing money in year 1-5 and/or don't have any revenue streams, we currently operate a business that has been profitable and has a growing and stable source of revenue.
I Don't Have Any Money, How Can I Help?
Easy! You have Facebook right? Twitter? Instagram? Snapchat? Tinder? Those other things the kids are using nowadays? (I can't keep up. I'm old.) Post and share our updates there! Maybe ask a family member or friend to chip in! Maybe talk to Dave in accounting and see if he can pull some strings! (Just kidding, nothing illegal. As far as I can know!) Come in to our City Market location and order a sandwich! Have us cater your office party! Ask for a gift card for your birthday! Check out the "Intrinsic Gratification" perk! Any help you can give, we will take. And we are extremely, extremely thankful for all of it. Honestly. Thank you so much.