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| Presented by: |
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By Ted Williams |
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| Hello Thursday. Village Tavern closed after 35 years. Helluva run. Their SouthPark space is already listed by sneaky-good golfer Charles Thrift. It’s 8,447 square feet of prime real estate with a unique 10,000 square foot patio. |
| I texted my restaurant bestie Frank Scibelli to tell him that he should do a steakhouse with chic indoor/outdoor vibes to compete with Steak 48, which does $20M in annual sales. Restaurateurs love getting advice from bloggers.
💼 Hot Job: Senior Social Media Specialist at ESPN ($78K – $110K). Very cool Ballantyne office. You’ll work on EspnW, covering sports and culture through a women’s lens. Hiring manager is Rachel Bleier. |
| 👩 Shout-out: Addy Collett, 29 year old founder of The Health Club, for selling out of 800 founding memberships in minutes. I was bullish, but wow. |
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MARKETS: YEAR-TO-DATE
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Nasdaq |
18,369 |
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S&P 500 |
5,807 |
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THE LEAD
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You don’t need $200,000 college counseling, meet the Ph.D. focused on “fit”
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| Dave Bergman, Andrew Belasco, & Michael Trivette of College Transitions |
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| Last week, The Wall Street Journal dropped a blockbuster story on Crimson Education titled, “The Guru Who Says He Can Get Your 11-Year-Old Into Harvard.” The venture capital backed company is now valued at $554 million. |
| How it works: Parents pay Crimson Education $30,000 – $200,000 for programs that help their kids get into top schools, especially the Ivy League. Feels kind of gross, but maybe it’s reality. |
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| Local competitor: I feel like my friend Michael Trivette might be sitting on a goldmine with his 13 year old company College Transitions. |
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400 students across the United States. Popular local schools include Ardrey Kell, Marvin Ridge, and Myers Park.
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Typical engagement spans 1-2 years with an average cost of $4,000-$8,000.
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Revenue has grown to “low seven figures” and profit margins are in the 50-60% range.
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Website gets 10M unique users per year.
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Entirely bootstrapped.
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| Buyers: If you’re one of my local VC buddies like Don Rainey or one of my local internet mogul buddies like Zach Clayton — you should probably buy College Transitions and grow the hell out of it. |
| Full story: You don’t need $200,000 college counseling, meet the Ph.D. focused on “fit” |
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PRESENTED BY RED CEDAR HOMES
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Red Cedar named one of Charlotte’s fastest growing home builders
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| The Byre townhomes in LoSo |
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| Red Cedar made the Inc. 5000 list this year! They’ve built over 2,000 single-family homes and townhomes. |
| This growing real estate company, led by CEO Jon Grabowski, is developing numerous neighborhoods around Charlotte, including a community in LoSo with townhomes starting in the $500Ks. Go discover your new home. |
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FOR SALE
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Buying a golf course? Mallard Head Country Club hits the market
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| Mallard Head clubhouse putting out 1960s “Mad Men” vibes |
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| Mallard Head Country Club, located in the Lake Norman area, hit the market two days ago. The 18-hole public golf course sits on 173.71 acres of land. |
| Price: No price tag. Listing agent Adam Farber told me, “We are letting the market determine a price.” Judging from comps, my guess is that it goes for $3-$8M. |
| What’s included: |
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| Course designer: George W. Cobb, who also designed August National’s par-3 course, Quail Hollow, and Carmel Country Club’s North Course. |
| Merch: Move over Winged Foot, I’m digging their old school duck logo. If you buy it, I expect a dozen free Holderness & Bourne shirts with the Mallard Creek logo (and free greens fees obvi). |
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MONEY TALKS
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58 year old builds $2.5M net worth being “household co-CEO” with his wife
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| Tuna Crudo ($17) from Customshop, this guy’s favorite spot |
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| Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate. |
| Salary: “I’m a telecommunications executive. Salary is $210K + 30% bonus and annual restricted stock awards. Salary increases were always about saying ‘yes’ to opportunities — then working my ass off to demonstrate I could do whatever might be next.” |
| Work/life balance: “I was so married to work that I didn’t get married until my late 30s. I absorbed myself in work… to the point of near divorce. Not proud of that but it helped me reconsider what was important.” |
| Best money decision: “Buying a N.C. oceanfront investment property in 2011. We brought less to the closing table than the investors who had failed to flip it. We sold it in 2019 for 2x the original purchase price, but also generated close to $1M in rental revenue over the years.” |
| Full story: 58 year old builds $2.5M net worth being “household co-CEO” with his wife |
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MONEY SNACKS
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Other financial headlines I’m snacking on
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Concert for the Carolinas takes place on Saturday at Bank of America Stadium. You can live stream it if you forgot to buy tickets.
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Duck Donuts closed in Dilworth and you can now buy it for $150,000 (including the $5,328.76/mo lease).
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Linville mountain home dubbed “Lazy Bear Lodge” featuring a Hobbit-inspired guest house sold for a record setting $14M.
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Chick-fil-A is giving away free 8-count nugs on Saturday from 10:30 a.m. until 10 p.m. to celebrate the Hornets home opener that night.
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Oshen, a sushi and hibachi restaurant from the owners of Yunta, announced that it will open on Tuesday, October 29.
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HOUSEKEEPING
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Crystal Moore quits corporate healthcare job to go 100% on Garden & Grace
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| Crystal Moore, founder of Garden & Grace |
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| Just because I crushed Crystal and her husband Will in pickleball doesn’t mean I’m not impressed by the 161K Garden & Grace community she’s built on Instagram. |
| Going all in: “I was getting more and more opportunities to work with brands and designers. At some point, you’re curious enough to take the leap.” |
| Coverage: “I get asked a lot why I don’t share ‘this or that.’ My answer is simple. Garden & Grace is personal, and I want it to represent an established, classic way of life. It’s important to me that nothing compromises that.” |
| Making money: “I have a diversified stream of revenue. Sponsored content, affiliate marketing — and I’m really proud of the professional directory that helps my followers connect with talented designers and home professionals.” |
| 2025 focus: “Large brand partnerships… a Garden & Grace furniture or fabric line would be a dream.” |
| Advice to creators: “Know your analytics and stay true to your brand.” |
| Happy Thursday! Don’t tell my wife, but I’m going to play golf this afternoon 🤫 |
| – Ted |
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MONEY POLL
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Do you think working with a private college counselor is a good investment?
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| Last week’s poll results: Best luxury resort within driving distance? (4,769 subscribers) |
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Kiawah – 39%
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Blackberry Farm 23%
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Palmetto Bluff 22%
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Greenbrier 11%
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High Hampton 5%
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