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By Ted Williams |
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Hello Thursday. Rada is the No. 1 buzziest restaurant in Charlotte right now. Congrats to owners Eloy Roy (31) and chef Callan Buckles (30).
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The 50-seat Myers Park restaurant feels intimate and exclusive. It's the place to see and be seen.
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"Sales have exceeded our expectations for sure," Eloy messaged me. "Word has spread quickly."
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My go to food critic Andrew Colacchio agrees (73K Instagram followers). He texted me, "It's exceptional. An instant top 5 Charlotte restaurant."
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Best dishes are the clams ($19, save juice for bread dipping) and the lamb bolognese ($24, a top 5 dish in Charlotte).
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And order their $19 dirty martini which comes with an aggressive anchovy olive garnish and a side vessel of brine.
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It's not for everybody, as evidenced by two early 1-star Google reviews, citing that Rada "is trying too hard… and too sophisticated for Charlotte."
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💼 Hot Job: Human Resources Manager at Lucid Bots. The robotics startup recently raised a $9M Series A. CEO is Davidson-grad Andrew Ashur.
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👨 Shout-out: Joey Skavroneck, Co-Founder and Chief Growth Officer at painting startup Craftwork, for landing $7M in funding. Fun fact, painting is a $1B market in just North Carolina alone.
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MARKETS: YEAR-TO-DATE
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Nasdaq |
20,013 |
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S&P 500 |
6,086 |
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SIDE HUSTLE DIARIES
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TikTok-inspired reusable moving box company generated $12,880 last year
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Joseph Smith (37), founder of Bento Move
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A TikTok video on reusable moving boxes caught Joseph’s attention — so with a few prompts in ChatGPT, he had himself a business plan for Bento Move.
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How it works: Instead of buying cardboard boxes, you rent durable, eco-friendly plastic totes from Bento Move.
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1 bedroom (24 Bento Boxes) costs $116 for 2 weeks, including delivery and pickup.
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It’s just the boxes! It’s not a moving service.
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Startup costs: $6,000 for initial inventory, software, and website. He launched in summer of 2023.
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Revenue: Last year, Bento Move had 87 customers and did $12,880 in revenue.
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Goal: “I’d like to help 1,000 customers this year,” said Joseph. “That would put us around $122K in revenue.”
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Startup advice: “Develop a minimum viable product (MVP) and test the market,” explained Joseph, who still has a full-time job as a risk and compliance executive.
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PRESENTED BY KITCHEN GUARD
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New disruptive hood cleaning company on a mission to protect Charlotte kitchens
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Kitchen Guard of Charlotte team
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NOW OPEN
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Dogwood reopens as part of The Westin's $25M renovation
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Like a pro, I ordered their famous duck and dumplings
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Dogwood opened yesterday inside The Westin in Uptown. It's part of the 700-room hotel's $25M renovation, which includes the $6M restaurant.
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Back from the dead: Dogwood closed its SouthPark location in 2023 after a successful 10-year run.
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Economics: Owner Jon Dressler shared with me over dinner, "The biggest mistake I see new restaurants make is being undercapitalized. Add an additional 15% of your overall investment for working capital, otherwise you just can never catch up."
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MONEY TALKS
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34 year old content marketer lands $180K salary and has a 6-figure freelance business on the side
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Ever Andalo, this 34 year old’s favorite spot
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Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate.
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Salary journey: “My first job out of college was $30K. You're just a number to a company. Don't stay if you're not being promoted. I was only able to make big jumps ($30K increases) because I switched companies every 2-3 years.”
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Debt: “$19K in student loans. I pay $500/mo toward those. I paid off $45K of credit card debt this past year! The Rich Habits podcast taught me that you can’t out-invest high-interest credit card debt.”
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Savings goal: “Help my parents retire. They’ve both worked so hard their entire lives and are still working into their late 60s. I honestly hate seeing that.”
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Portfolio: “75% ETFs, 10% crypto (mostly Bitcoin), 10% single stocks, and 5% bonds. Total net worth is around $130K, built entirely on my own. Just two years ago, I had $0 to my name.”
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Tools: “Public to manage investments, Copilot to track net worth and create realistic budgeting, Grifin to automatically buy $1 of stock in places I shop, and Oportun to build savings buckets."
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Financial goals: “Make over $300K annually (W2 + freelance combined), buy a townhome in a walkable neighborhood, and invest $4K+ per month.”
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Full story: 34 year old with $288K in total income builds $130K net worth
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MONEY SNACKS
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5 other financial headlines I’m snacking on
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Chick-fil-A giving away free chicken sandwiches and chicken biscuits in Charlotte to promote their mobile app.
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Profitable Yadkin Valley vineyard featuring 4 cabins for additional Airbnb revenue listed for $3M. A total of 38 acres.
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MBA grads struggling to find work. Even at Harvard Business School, 23% of grads are still job hunting 3 months after graduation.
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Popeyes near Wilmington with $1.5M in revenue and $84K in profits listed for $1.2M. That EBITDA multiple feels wild to me.
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Pinehurst No. 10 rated the No. 1 best new public golf course by Golf Digest. The 7,020 yards, par 70 is designed by Tom Doak on a former sand mining site.
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HOUSEKEEPING
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$3M European manor in Monroe calling for "highest and best offers" by Saturday
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Previously a wedding venue named "Champagne Manor"
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Need a countryside estate that doubles as a wedding venue? Of course you do. I'm unlicensed, but happy to be your buyer's agent (they're offering 2% buyer commission).
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Blind bidding wars: "We are calling for the highest and best offers to be submitted by 10am on Saturday," listing agent Liza Caminiti texted me. "Huge amount of interest."
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Happy Thursday! After Netflix's blockbuster earnings this week (+13% on the announcement), I'm reflecting on selling the stock at $52 since it's currently trading at $954.
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– Ted
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MONEY POLL
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Do you have a side hustle?
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Last week’s poll results: Did you make new year's resolutions? (6,609 subscribers)
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