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By Ted Williams |
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Hello Thursday. Snow brings neighborhoods together! I absolutely loved sledding with 40 families on the playground hill at Selwyn Elementary.
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Snow also brings parenting desperation. I absolutely did not love purchasing Zootopia 2 for $29.99 on Amazon, but I had no choice. Anyways.
💼 Hot Job: Local Government Engagement Lead at Scout Motors ($140K – $170K). Face of Scout to the community. 25 PTO days. 401k match. Plaza Midwood HQ. |
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🏠 For Sale: Custom build on coveted Biltmore Dr asks $3.8M. 5 beds, 6 baths, 6,000 square feet. Third-level bonus room. Tasty Eastover curb appeal. Listed by Callie Kelly.
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Shout-out: Jenny Tacka and Juan Garzon for landing Bank of America Stadium as the venue for Seed the South this spring. $100K pitch competition with VCs, startups, and angels.
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MARKETS: YEAR-TO-DATE
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S&P 500 |
6,883 |
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Nasdaq |
22,905 |
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NOW OPEN
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$1M listening bar expands from Charleston to South End
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| Groovers’ swanky bar from Rico Marcelo |
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Now open: 39-year-old Eric and 34-year-old Kate Gussin, owners of Trio and Blue Door, will open Groovers Listening Bar today in South End!
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“Our other concepts are either very experience driven or very cocktail driven, but this is a wonderful baby of both,” Katie told me.
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Total investment was $1M. It’s located on South Mint near YUME in South End.
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Layout: The 3,400 square feet features a high-end bar, LED dance floor, and 2 DJ booths. Expect a mix of ’70s, ’80s, and ’90s music.
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Drink this: The $14 Showgirl Sour. There are a total of 10 signature cocktails, all at that same price point. For food, they’ll be slinging premium Lizzy’s Glizzys hot dogs.
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Misunderstood: “The key to the bar business is attracting and retaining an outstanding team,” explained Katie. “Staff can make or break you.”
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PRESENTED BY TOCCARE
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Book an award-winning facial at Toccare Skin Spa in Dilworth
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| Toccare in Dilworth, No. 1 Best Facial in Charlotte |
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Best facial: My wife and her friends are absolutely obsessed with Toccare. IYKYK.
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The award-winning Dilworth skin spa sees more than 1,000 clients each month.
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Known for its focus on clean beauty and individualized treatments.
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Valentine’s Day: Buy a gift card or book their popular $145 Toccare Ritual Facial. Use code TINY30 for a $30 credit toward your first service!
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CAREER PIVOT
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39-year-old former Charlotte Magazine publisher opens print shop with gigantic $75K printer
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| Andy with his first gigantic printer, photo from buddy Logan Cyrus |
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New venture: After a 17-year career in media, print nerd Andy Smith opens modern print shop. It’s aptly named Andy’s Print Shop.
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Think programs, brochures, corporate publications, catalogues, school magazines, gallery guides, playbills, menus, and trading cards.
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Perhaps surprising, the custom printing market is growing at 9.8% YoY. Commercial printing in general is a $750B market.
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Attention: “Scrolling often means skimming,” Andy told me. “Print media gives great stories, messaging, and memories the chance to endure.”
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Competition: AlphaGraphics, an international franchise, which averages about $1.4M in revenue per location with an EBITDA margin of 13.9%.
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Bullish: Since telling contacts about the business, Andy’s received a shocking number of sales inquiries.
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“Honestly, I could cry,” confessed Andy, who’s now looking to order a second $90K machine. “I’m obsessed with quality. It’s refreshing to see business leaders who agree.”
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Tiny take: I’m so bullish that when Andy asked me to invest, I didn’t even look at his business plan. I just stroked him a check. I love Andy. I love the idea.
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MONEY TALKS
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35-year-old construction worker making $200K spends 30% more on daycare than mortgage
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| Customshop, this guy’s No. 1 restaurant with $28 tasty agnolotti pasta |
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Money Talks is a weekly series showcasing how real people in Charlotte approach money.
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Living situation: “We bought our house in 2019 with a 30-year mortgage at a 3.75% rate. Refinanced in 2021 and went to a 20-year at 2.25%. Very lucky.”
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Job: “Commercial construction. Salary is $167K with a 20% annual bonus. My wife makes about $190K as well. Two working parents is hard, but tough to argue with over $300K in total income.”
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Net worth: “About $1.6M. My wife and I combine our finances. No financial advisor. Here’s a rough breakdown👇”
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On your mind: “We’ve got 2 young boys. Daycare costs 30% more than our mortgage. Contemplating private school.”
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Best expense: “House cleaning. $170 every other week. They even do small things like fold random clothes.”
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Kids: “We put $7K into an UTMA for each child when they were born. Calculator says it would be worth $1M by the time they retire!”
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Savings goal: “Initiation fee at one of the big 4 country clubs. But I struggle with how it makes any sense to pay $100K initiation and $1K in monthly dues?!”
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Rich in Charlotte: “$10M or one of the big ass houses in Myers Park.”
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Full story: Savvy 35-year-old construction worker sets up $2.5K monthly automations
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MONEY SNACKS
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5 other financial headlines I’m snacking on
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Half Shell Raw Bar opens across the Rail Trail from O-Ku in South End. Seafood tower $95. Tuna nachos $24. Oyster tasting flights!
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Myers Park brick home on Hampton Ave asks $2.6M. Open floor plan. Turf backyard. 4 beds, 6 baths, 4,368 square feet.
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Gen Xers and Millennials are set to inherit $4.6 trillion in real estate over the next 10 years. Luxury price points on the rise.
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Naked Farmer sets February 11 for grand opening in South End. It’s like Flower Child. $30 Surf & Turf bowl.
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NC Coastal Tennis Club for sale asking $275K. Revenue $220K. Cash flow $90K. Option to buy real estate for $900K more.
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HOUSEKEEPING
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Mi Cariño’s $24 Argentinian red shrimp ceviche debuts as No. 1 most popular dish
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| $14 Taco Vaqueiro, 12/$32 Madonna oysters, $24 Aguachile Prieto |
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Now open: Resy stalkers are descending upon $2.6M Mi Cariño in South End! Only 4 reservations before 10pm over the next 5 weeks.
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Show stopper: Both the $14 Taco Royale and $17 Truffle Corn Dip were delicious, but the $24 Aguachile Prieto ceviche knocked my socks off.
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Happy Thursday! I planned on dropping my 5-year-old daughter off at her friend’s $500 Mission Laser birthday party on Saturday morning — but the dad invited me to stay and play. I’m gonna light up some kiddos!!
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– Ted
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MONEY POLL
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Have you ever lied to a partner about a purchase?
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Last week’s poll results: Most bougie neighborhood in Charlotte? (12,639 subscribers)
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Eastover – 45%
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Myers Park – 34%
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Foxcroft – 16%
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Dilworth – 5%
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