🟢 Sandwich Drops - Tiny Money

Presented by:

By Ted Williams

Hello Thursday. I’m one of those weird guys who goes to kid birthday parties and tries to do the math on how much money the place makes.

I did this last week at Activate Games, my No. 1 favorite kid birthday party spot. It blew my mind.

Price is $30 for 75 minutes of access. At full capacity on a Saturday, it can generate $33,150 in revenue.
Let’s assume Activate averages 50% capacity, that’s $3.7M in annual revenue. Initial investment is about $1.6M.
Only operational costs are 2 high school dudes chilling at the front desk. Holy gross margins! No wonder it’s undergoing “rapid expansion.”

I should probably enjoy spending time with my children instead of calculating cash flow, but whatever. Anyways.

💼 Hot job: Senior Social Media Specialist at Scout Motors ($110K – $135K). Hybrid. Based out of their new corporate Plaza Midwood headquarters.

☕ Now open: Giddy Goat Coffee Roasters debuts its massive 6,380 square foot South End location near Suffolk Punch. Rooftop patio.

🗞️ Shout-out: Rana Cash, executive editor at The Charlotte Observer, for leading the newspaper's Border Patrol coverage on Instagram this week.

MARKETS: YEAR-TO-DATE

S&P 500

6,614

+12.69%

Nasdaq

22,448

+16.43%

BULLISH

Foodies flock to L'Ostrica for limited-run $18 sandwich drops

$18 Ted Danson turkey sandwich – OMG, sooo good

Charlotte's best-kept dining secret is a gourmet sandwich program run out of a fine dining restaurant on Montford.

Sandwich news: L'Ostrica, an award-winning bistro from James Beard Award recipient Eric Ferguson, offers a limited-run SOTD (Sandwich of The Day).

I showed up at 11am last Friday for their Ted Danson turkey sandwich and spotted Rada owner Eloy Roy ordering 2 of them.
Popular sandwich drops include their porchetta, roast beef and cheddar (today!), crispy fish, fried chicken, and Reuben.

How it works: L'Ostrica posts the SOTD on their Instagram. Just 1 sandwich per day. That's it. The restaurant opens at 11am and it’s first come first serve, until sold out.

Depending on ingredients required, Chef Eric will make only 25 – 50 sandwiches.
"Certain sandwiches can sell out fast, even within an hour," co-owner Cat Carter told me.
Sandwiches normally run $17 – $19 and come with their hand cut fries, arguably the best fries in our city.

Idea: "We like giving people multiple reasons to visit L'Ostrica — but also, we just like a good sandwich. It’s fun."

Tiny take: L'Ostrica and La Lima are tied for the No. 1 gourmet sandwiches in Charlotte. So damn tasty!

PRESENTED BY TOCCARE

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SECOND HOME WATCH

Record-setting $19.5M waterfront estate hits the market at bougie Palmetto Bluff

Pretty decent poolside view overlooking the May River

For sale: 10-acre waterfront estate named Heron Hall just hit the market at Palmetto Bluff, 4 hours from Charlotte.

17,598 square feet. 9 bedrooms, 10 baths. 658 feet of pristine May River shoreline.
Palmetto Bluff is my No. 2 resort within driving distance of Charlotte. No. 1 remains Blackberry Farm.

Listing agent: Vicky Mitchener, founder of Dickens Mitchener, which now has over 100 full-time agents. “Heron Hall is a gathering place for family and friends to enjoy for generations."

TINY MONEY JOB BOARD

Who’s hiring in Charlotte? 5 Trending jobs

VP, Local Client Partnerships at Axios ($228K – $276K). Remote. Lead local ad sales team. Reports to CRO Jacquelyn Cameron.
Senior Marketing Manager at Pinehurst Resorts. Manage paid, owned, and earned media.
Director of Marketing at Honeywell ($169K – $211K). Part of its $6B building automation unit.
Project Manager at SPAN Enterprises ($100K – $120K). Work on their TaxBandits platform. Cool local tech group.
Senior Associate, Capital Markets at Asana Partners. $7B in assets under management. Work closely with CFO.

Hiring? Post a job

Hunting? View all 92 open jobs on the Tiny Money Job Board 💰

MONEY TALKS

32-year-old wealth advisor making $200K breaks down his own $750K net worth

$11 Leluia Hall Hawaiian Rolls, this advisor's No. 1 dish

Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate.

Job: "Wealth advisor. Total comp is $200K, salary and advisory fees."

Living situation: "Now with 3 kids, we decided to keep the townhome we own and move our family to a rental house. The townhome has 97% STR occupancy."

Work-life balance: "Great. My business and personal life are intertwined. It comes at a sacrifice though, I always have to be on."

Budgeting: "1000%. Simple Excel spreadsheet. You have to budget if you want to control your money vs have it control you."

Net worth: "$750K. Breakdown is $235K in retirement, $65K in 529s, $50K in home equity, and $400K in brokerage. I self-manage and have averaged 37% per year over the last 3 years."

Retirement: "Given my career, I don't see myself fully retiring until I'm around 70 years old. That said, my goal is to have the option to retire at 55 with $10M."

Full story: 32-year-old wealth advisor uses $57K "securities backed loan" for rental furnishings and car

MONEY SNACKS

5 other financial headlines I’m snacking on

Merchant and Trade 10-person rooftop igloos are back. $100 for the 2-hour experience. Order the new 48 oz Tomahawk steak.
Carnegie Private Wealth hits $2B in assets under management. Started just 2 years ago by 3 Wells advisors. 60% organic.
Panko debuts with strong weekend in NoDa. $600K investment. Popular dishes $16 Causa Panko and $28 Lomo Saltado.
Custom apparel business for sale asking $1.3M. 20 years old. Revenue $1.8M. Cash flow $350K.
The People's Market closes both locations, just 5 months after opening in Myers Park. A gofundme to save it has raised $26,292.

HOUSEKEEPING

Cheat's $15 Chicken Caesar Hoagie becomes "viral sensation"

$15 Chicken Caesar Hoagie at Cheat’s South End near Sycamore

Shocking: "We were not prepared for the city's reaction," managing partner Ryan Hart told me. "It's become a viral sensation."

The Chicken Caesar Hoagie now accounts for 10% of sales at Cheat’s South End location 🤯
Choose fried or grilled chicken. "We're finally over the hump with production and training."

Shout-out: Ryan partnered with Manolo's Bakery on the rolls. It’s a delicious vessel. "Big thank you to Manolo’s team, especially as they face unprecedented challenges right now.”

Happy Thursday! Thank you to the hundreds of Tiny Money readers who sent car shopping advice. I tried to negotiate on the $62K Lexus TX350 at the Hendrick dealership and completely failed. I walked out. The car buying process is so dumb.

– Ted

P.S. No newsletter next week! Turkey time!