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By Ted Williams |
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Hello Thursday. I love Halloween. Iāll be sipping NoDaās new Hop Drop Lights (only 4.7% ABV) chit-chatting with neighborhood dads as my kids go nuts.
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My 10-year-old is dressing up as a Minion. 8-year-old is a blue M&M. 5-year-old is cotton candy. The homemade cotton candy costume could easily be confused for a cloud, but donāt tell her that.
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Also, my son was born on Halloween! I didnāt grow up with video games, but weāre getting him a PlayStation 5. I had no idea these cost $500. WTF. And now Iāve got to figure out how much to let him play. Anyways.
š¼Ā Hot job:Ā AI Strategy Consultant at Hightouch ($170K – $200K). Raised a Series C at a $1.2B valuation. New Charlotte office led by Alec Haase.
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šĀ For sale: Dalton Espaillat lists MaBĆ Cocina Tropical in NoDa for $650K. Dalton invested $1.2M in the space, but sales struggled. Heāll focus on his 17-location Sabor empire, where sales are up 10%.
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šØĀ Shout-out: Trace Smith, 38-year-old CEO of Next Glass, for acquiring Ekos. 120 combined employees at this beverage tech startup. Trace is a Woodberry Forest and Wake Forest grad.
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MARKETS: YEAR-TO-DATE
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S&P 500 |
6,886 |
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Nasdaq |
23,956 |
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NEW BRUNCH
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$12 Monkey Bread emerges as a must-order at Leluia Hallās new weekend brunch
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$12 Monkey Bread paired with a $16 Bloody Mary
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Brunch menu: Last weekend, Leluia Hall debuted weekend brunch. Surprisingly, 8 dishes tied in popularity!
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$12 Monkey Bread, $30 Lump Crab French Omelette, $25 Apple Bourbon French Toast, $28 Jerk Duck Benedict, $22 Avocado Toast, $24 Breakfast Plate, $34 Lobster Roll Sliders, and $28 Cheeseburger.
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Diversification: āJust like in a financial portfolio, variety works in our favor ā if one ingredientās price spikes on a dish, we have flexibility to remove that item and focus elsewhere,ā co-owner Jeff Tonidandel told me.
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Fun fact: Leluia Hallās $16 Bloody Mary made up 25% of its brunch cocktail sales. I told you basic people like me love a full shrimp garnish!
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Tiny take: As an investigative journalist, I sampled nearly a dozen brunch dishes.
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PRESENTED BY THE COLLECTION
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Move-in-ready NoDa townhomes start at $2,490/mo
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Thoughtfully designed set of 4 modern townhome communities
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New: The Collection at Charles makes luxury living in NoDa more attainable than ever for young professionals and families.
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Spacious one- and two-bedroom flats and townhomes feature high ceilings, natural light, designer finishes, and private two-car garages.
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Pricing: Rates start at $2,490, with up to two months free for a limited time.
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BOOTSTRAPPED
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31-year-old's office beer delivery startup growing 50% YoY, on pace for $700K
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Brandon Reed, Founder & CEO of VIBE NC in a NSFW photo
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Idea: "I knew there was a need for office beverage delivery and service," Brandon told me. "I thought offices here would shift more to what I saw in San Francisco."
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Brandon started VIBE NC, an all-in-one provider of beverage and pantry solutions.
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Clients include high-growth companies like Asana Partners, Crescent Communities, and LendingTree.
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Revenue: ā$441K in 2024 and on pace for $700K this year. We should hit $1M in 2026," explained Brandon.
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It's not just kegs. They offerĀ kombucha, wine, coffee, and snacks.
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Their top 10 clients range from $2,000-$10,000 per month, but the majority are $500-$1,500 per month.
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Big opportunity is their new Bevi machines and taking overĀ full pantry/snack programs (e.g., Canteen).
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Insight: "Itās a service business; we all have access to the same products."
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MONEY TALKS
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42-year-old construction execās parents went bankrupt, now he has $4.5M
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Del Frisco's, this guy's No. 1 restaurant. "Best Old Fashioned" ($35)
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Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate.
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Job: "I do sales in the construction industry. I make $350K – $400K, mostly commission. I started off making $45K out of college."
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Rentals: "We own 2. They net about $30K/year. Charlotte real estate is exploding, own something!"
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Knowledge: āMy parents went bankrupt when I was a kid. I learned a lot about what not to do. I recommend having a money mentor. It's important."
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Budgeting: āI budget savings, not expenses. It's a little backwards, but it works for me. I've also used the Debt Snowball Method.ā
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Net worth: ā$4.5M. We started investing early and let time do its work. The S&P 500 has averaged 10.9% over the last 20 years!ā
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Financial goals: āGenerate $100K in passive income from rentals, hit $10M net worth, and be able to give away money as weād like.ā
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Rich in Charlotte: āAnybody with a net worth over $1M.ā
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Full story:Ā 42-year-old construction worker says "don't do annuities or whole life insurance"
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MONEY SNACKS
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5 other financial headlines Iām snacking on
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Home staging business for sale asking $675K. Revenue: $422K. Cash flow: $172K. Owner retiring. $500K furniture inventory included.
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Valhalla Pub reopens with new second floor. Capacity jumps from 86 to 163. $19 Fish and Chips. Soccer fans rejoice.
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Blake Pope hosting $247 food photography workshop at Albertine. Only 9 of 30 tickets remaining. 3 hours. Heās so good.
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1961 contemporary house built over a creek asks $1.6M in SouthPark. Exterior is weathered Cypress and white stucco. 1 acre.
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Smash burger ghost kitchen for sale asking $110K. Revenue: $533K. Cash flow: $74K. Owner leaving for new IT venture.
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HOT START
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NADC Burger sells nearly 1,000 burgers ā forced to "pause" operations to keep up
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Signature $16 burger at NADC (Not a Damn Chance) Burger
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Now open:Ā NADC Burger sold nearly 1,000 burgers on opening weekend, forcing the cult-favorite burger joint to pause operations yesterday.
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Signature burger: Double Wagyu beef patties, American cheese, onions, secret sauce, tamed jalapeƱos, and pickles on a toasted potato bun. Itās a whopping $16.
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Tiny take: Itās a top 5 Charlotte burger.
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Happy Thursday! On Halloween night, Iām grilling premium Reidās steakburgers, drinking 2 (okay, maybe 4) Hop Drop Lights, and then eating my kidsā candy after they go to sleep.
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Programming note: No newsletter next week š¢! Iām heading to Spartanburg, SC to tee it up with a few college buddies at The Country Club of Spartanburg.
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– Ted
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MONEY POLL
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Do you feel comfortable discussing your salary with co-workers?
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Last weekās poll results: Are you interested in starting a business within the next 12 months? (11,496 subscribers)
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