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The first community owned bar in the world! Using Nxt AE for fundraising! singapore
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Author Topic: The first community owned bar in the world! Using Nxt AE for fundraising!  (Read 6189 times)

mcjavar

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Be part of this unique experience and be the co-owner of the world’s first community owned cocktail bar!


My name is Gabor Petö, a 30 years old IT and management consultant living in Vienna, Austria, with a strong entrepreneurial spirit and several years of experience in tourism and catering. I am originally from Budapest, Hungary, but was living in Switzerland and Germany before and am also the owner and managing director of Spalatius Ltd., my trading company underlying the laws of the European Union which I am backing this project with, so you won´t need to trust me as each share means a legal binding between you, me and the company.

It has always been my dream to run my own bar at a great location, but you probably can imagine how hard and expensive it is to get in such a business. I could´ve tried to get some real life investors on board, but speaking in front of 3-5 investors is not nearly as effective as reaching out to the world and using this unique and modern way of funding, where I can reach hundreds (or maybe even thousands) of potential investors at once. I also think that we will have a lot of media attention if the funding is a success as this would be the first cocktail bar on the world which is owned by people from all around a world. But we won´t act as chance directs; I`m already having a marketing plan and part of the investment will be spent on pushing the project in the media. You can find out more about this in the Business Plan section.

Please see the official homepage of the project for detailed information about each topic @ JaffaProject.com


The business we are talking about is called Jaffa, which is a bar located in the heart of the city center. Budapest is the vibrant capital of Hungary, which made it to the top of the “must see” and “best cities” in Europe during the last two decades. Budapest is home of around 2 million “Magyars”, accommodating an incredible 5 million visitors per annum from all over the world. Budapest is known for its beautifularchitecture, great culinary wonders and vibrant night life offering a lot of opportunities ranging from night bath parties to fancy cocktail bars, like the Jaffa.

Jaffa is a well-known and prestigious bar in the Raday Street, which is also known as Budapest´s Soho, a street lined with bars, restaurants, galleries and other hot-spots. And we have the opportunity to acquire tenancy for this business.


The guys who are selling it are tired of running such a business. They did it for decades, and the circumstances changed. Just an example: they completely mismanaged the social media part of the business, having a Facebook Fan Page with only 311 likes which is inexcusable, in my point of view. You have to offer great drinks, great atmosphere and great food to stay in business and offer even more to be one of the bests: a great experience to all your guests. And you have to let people know about this great place. This wasn´t the case 10-15 years ago, when you only had to open up a fancy restaurant and people were storming in like crazy and you only had to count your money. There is a lot of work to do, but I am more than ready to do it and go the extra mile in order to get our business a great success.


50% return on investment in the first year, without waiting for a product to get ready, or rely on some anonymous coders. You can go into your own bar and have a drink in it. Sounds interesting?

We can calculate with a profit of around $9000 per month, or $100000 annually. If you own 10% (1 000 000 shares) of the business, this means $10000 straight into your pocket for an initial investment of 37,5 BTC ($22500 on actual BTC/USD price). Please see below for a detailed calculation and explanation of these figures.

50% ROI in the first year! And don´t forget, that this is only the income from the running business. Should we decide to sell the business, you get an additional 10% of the sale price.

My offer

It has always been my dream to run my own bar at a great location, but you probably can imagine how hard and expensive it is to get into such a business. I could´ve tried to get some real life investors on board, but speaking in front of 3-5 investors is not nearly as effective as reaching out to the world and using this unique and modern way of funding, where I can reach hundreds (or maybe even thousands) of potential investors at once. I also think that we will have a lot of media attention if the funding is a success as this would be the first cocktail bar on the world which is owned by people from all around a world. But we won´t act as chance directs; I`m already having a marketing plan and part of the investment will be spent on pushing the project in the media. You can find out more about this in the Business Plan section.

I am offering 67% of the company that will own the cocktail bar. I´ll keep 33% of the shares, and will become the managing director to be able to run the daily business, however, all shareholders will be involved in mayor decisions through voting. You will be therefore an owner of the company, which means, if we decide to sell the whole business, you´ll get your share from the sale price. The dividends will be paid in Bitcoins or in Euro (available for VIP Shareholders) from the profit after tax, once a quarter, so every 3 months. The financial statement will be published and will be audited by an independent accounting firm once a year.

There will be a total of 10 000 000 shares from which 6 666 666 is sold to the public and 3 333 334 is staying with me with an initial offering price of 0.00003750 BTC (3750 Satoshi) which means a total IPO amount of 250 Bitcoins. The first batch (20% of the shares) has been already released on Nxt Asset Exchange. The second batch (80% of the shares) will be released once the first batch is sold. The official asset is called JAFFA and can already be bought on Nxt AE.
Asset ID: 987034955252266357
Asset link: http://localhost:7876/#asset:987034955252266357


You don´t want to mess around with Nxt AE No problem! Send your BTC investment directly to 1P8tmJkw7Jet7F51V7pWBykXcrVCaLAtie and send me an email to info@jaffaproject.com. I will reserve you the shares from the 2nd batch stack. Your shares will stay in my account, but your name will be put on the shareholder´s list and you are entitled to the same benefits as other investors. Please make sure, that you have access to the address the Bitcoins were sent from and you´re able to sign the transaction if needed.

The figures



Total Budget: 300 BTC ~ $180 000 ~ 36 000 000 Hungarian Forints



A short overview

• We can accommodate at around 200 people at once (inside and outside altogether)
• The kitchen can serve around 150 meals per evening, so we will start with home delivery with one delivery guy, right after the grand opening
•  We can calculate with around $9000 profit per month
•  This means an annual ROI of 50% for the initial investors! (I won´t take dividends in the first year after my shares, but will put them into the Reserve pot so we will have some funds in there for unexpected expenses)
 
I made a lot of research in the last couple of weeks including researching the area, the surrounding restaurants, bars and coffee shops and made a pessimistic prediction with actual numbers. Download the PDF.
This means a total income of $28000 a month. We can calculate with a margin of at least 70%. This means that from the $28000, ca. 30% is what the products actually cost us and also means that $19500 remain to pay the monthly expenses and dividends!

Let´s see the expenses (for more details please visit the official homepage @ jaffaproject.com)
Rent – $3500
Gas, electricity – $300
Other overhead costs -$1500 (including security, concerts, DJ, and similar expenses)
Staff – $5200
Total monthly expenses: $10500

And now the best part!

1% of all shares are 100 000 shares. 20% of the 6 666 666 shares offered in the IPO (1 333 333) were released on Nxt AE, 80% (5 333 333) will be offered on the same platform once the first batch is sold.

Hope to see you aboard!
Gabor Peto -JaffaProject.com
« Last Edit: August 06, 2014, 10:24:50 pm by mcjavar »
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mcjavar

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Please see the official homepage of the project for detailed information about each topic @ JaffaProject.com

And please see another thread here:

https://nxtforum.org/assets-board/(ann)-the-first-community-owned-bar-in-the-world!/
« Last Edit: June 27, 2014, 10:05:11 pm by mcjavar »
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lucky331

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awesome.  i am interested how Nxt AE can be effectively used in real world businesses like these.
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vanx

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Great project!

You should post the asset number in clear so there won't be confusion ( different asset can have same name in NXT AE )
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mcjavar

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Great project!

You should post the asset number in clear so there won't be confusion ( different asset can have same name in NXT AE )

Thank you for the hint!

Added it to the description!

987034955252266357
http://localhost:7876/#asset:987034955252266357
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cc001

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NxtReporting.com - The Nxt Asset Exchange Portfolio Manager with Profitability Tracking - Donations are greatly appreciated on NXT-5W4G-GAR6-JHJP-H8ZTW

tersagun

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I love the kickstarter spirit and opportunity of AE!
Good luck with the bar mate.

But one question:
If I keep even 1 share, will I get free dinner every week for me and my partner? This is kinda interesting :-)
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mcjavar

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I love the kickstarter spirit and opportunity of AE!
Good luck with the bar mate.

But one question:
If I keep even 1 share, will I get free dinner every week for me and my partner? This is kinda interesting :-)

That´s my idea. If this crowdfunding works out, a few free dinners won´t be a problem.
Shareholders can change this per vote, of course, if they don´t agree with this aproach. There are some other questions which I´d like to discuss/decide together once the initial funding is over.
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Ludom

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If I buy 1 asset, I can have free diner?

It's cool for me but not for the other Asset Issuers.

It could be more as few dinners, it could be thousands dinners!!!
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mcjavar

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If I buy 1 asset, I can have free diner?

It's cool for me but not for the other Asset Issuers.

It could be more as few dinners, it could be thousands dinners!!!

To get the membership card, you need to provide some proof of identity to avoid such misuses. I will make that sure on the homepage.


Thank you all for your good questions!
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Ludom

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And if I own some asset, ask for the card and then sold the asset? How do you can control?

I'm very interested to make some trip to Budapest! :D

Edit: I'm interesting to have the budget in NXT, with the sell of Asset, etc. And I wait on the PDF
« Last Edit: June 27, 2014, 08:01:32 am by Ludom »
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tersagun

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And if I own some asset, ask for the card and then sold the asset? How do you can control?



It's indeed kinda open to abuse. We can buy 1 share for each family member/friend and then keep getting free meals every week/month.
There needs to be another level of "copper member" I would propose which would have the advantages of the current regular members and regular members should gain less bonuses because seriously, otherwise you might end up dealing with 3000 members and ID cards :-)


1 more point: Why having soooo many shares? Why not having a share price of 1+$?
« Last Edit: June 27, 2014, 08:10:00 am by tersagun »
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mcjavar

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And if I own some asset, ask for the card and then sold the asset? How do you can control?



It's indeed kinda open to abuse. We can buy 1 share for each family member/friend and then keep getting free meals every week/month.
There needs to be another level of "copper member" I would propose which would have the advantages of the current regular members and regular members should gain less bonuses because seriously, otherwise you might end up dealing with 3000 members and ID cards :-)


1 more point: Why having soooo many shares? Why not having a share price of 1+$?

You guys are all right. I didn´t think about people looking for backdoors, but I´m happy that you are thinking about the whole concept and how it could be misused.
I will change the membership levels to deal with this.

If the guy who already bought some shares does not agree with this, please contact me and I will buy back the shares for the original price of course.
« Last Edit: June 27, 2014, 08:29:33 am by mcjavar »
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mcjavar

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And if I own some asset, ask for the card and then sold the asset? How do you can control?



It's indeed kinda open to abuse. We can buy 1 share for each family member/friend and then keep getting free meals every week/month.
There needs to be another level of "copper member" I would propose which would have the advantages of the current regular members and regular members should gain less bonuses because seriously, otherwise you might end up dealing with 3000 members and ID cards :-)


1 more point: Why having soooo many shares? Why not having a share price of 1+$?

"1 more point: Why having soooo many shares? Why not having a share price of 1+$?"

I wanted to make it affordable for everyone to join.
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Ludom

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Really, I think that 1$ for 1 share is not to much. Everyone can join.
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mcjavar

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Really, I think that 1$ for 1 share is not to much. Everyone can join.

You might be right, but I don´t think that dealing with a few more zeros is an issue. The idea was to allow everyone to be able to acquire some shares, even if they just hold a few Nxts from the faucet.
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Ludom

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Yes but you need to change this free diners in membership.
I real like the idea but 0.5 NXT for 20 meal... it's to much.

It should have somthing between membercard and silvercard.

Last question: Could it be possible to pay with NXT in the bar?

I'm so excited! :D
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mcjavar

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Yes but you need to change this free diners in membership.
I real like the idea but 0.5 NXT for 20 meal... it's to much.

It should have somthing between membercard and silvercard.

Last question: Could it be possible to pay with NXT in the bar?

I'm so excited! :D

I changed it. I removed the free dinner part for the last membership level. The discounts and free VIP entry to the events remain.
If you guys think that it could motivate someone to buy some shares if he gets food for free, I am open to introduce a new shareholder level for smaller investors.

Yes, I am looking forward to accept not only Bitcoins, but also Nxt. This would make a lot of publicity for the place and make the investment worth it.
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Ludom

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I really like the idea of free diners. (you have diner BUT you buy some drinks)

What do you think about 2 course dinner twice six month, for a 1% holding ?
and -25% on the drinks?
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mcjavar

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I really like the idea of free diners. (you have diner BUT you buy some drinks)

What do you think about 2 course dinner twice six month, for a 1% holding ?
and -25% on the drinks?

Me too and I´m happy to be able to clear all these questions and possible problems before listing it on cryptostocks.
I updated the shareholder levels, which I´m not planning to change for now. Holding 1% means, that you invested 3 Bitcoins, which is a lot of money, actually, so I think that those benefits are okay. I also think that most shareholders will never visit the bar, while others might come more often. So that should be fine.

I am in talks with 2 real life investors who are interested to invest a bigger amount each (worth between 30 and 50 Bitcoins).

They will also have an Nxt/Cryptostocks account where the shares will be transferred once the deal is done.
« Last Edit: June 27, 2014, 09:43:17 am by mcjavar »
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