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By Ted Williams |
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Hello Thursday. Ladybird Taco opens Sunday at 6:30am in Dilworth. I’m bullish. Expect lines. Our city loves regional chains!
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It’s the Texas-inspired breakfast taco concept’s 5th location. CEO Brooks Veazey invested $1.5M to open it.
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Ladybird Taco picks👇
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$4.30 breakfast taco with tenderbelly bacon, scrambled eggs, and Monterey Jack
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$5.30 lunch taco with house-smoked brisket, potato, rajas, and queso
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I need more breakfast tacos in my life. I’ll be there this weekend. Anyways.
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Ladybird Taco takes former Lebowski’s space in Dilworth
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MARKETS: YEAR-TO-DATE
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S&P 500 |
7,747 |
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Nasdaq |
26,679 |
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HELLUVA RUN
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Hoppin’ flagship South End location closing after 9 years and $12M in revenue
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Young Rich Mayer back in 2017 when he opened Hoppin’
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Helluva run: Hoppin' South End will close within the next few weeks. Over 9 years, the self-pour bar generated $12M in revenue.
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During the early years, Hoppin' achieved $1.8M in annual revenue with 30% net profit margins.
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"I'm incredibly proud of what the team built," owner Rich told me. "Thousands of people made memories here."
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Decision: "I had to separate my emotional attachment to a business I'd spent nearly a decade building from the financial reality."
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Hoppin's 10-year lease was coming to an end. Monthly rent was going to increase from $8K to $20K.
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To remain competitive, Rich was also looking at a $300K investment to modernize the space.
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Expansion: The team invested over $3M to grow Hoppin' into a nationally recognized self-pour bar brand, expanding into locations like Nashville and Texas.
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"Unfortunately, that vision didn't materialize the way I had hoped," explained Rich. "It came down to decisions I made, changing consumer habits, and rising costs."
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Insight: "Building a successful business and scaling a successful business are two completely different challenges."
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What's next: More Two Scoops Creamery! Rich owns this growing ice cream concept with two of his best friends.
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Tiny take: Hoppin' was the coolest bar in Charlotte when it opened around Christmas time in 2017. Great memories. I'm a huuuge Rich fanboy. Onward đź‘Š
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PRESENTED BY OMJ CLOTHING
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OMJ Clothing on pace to exceed $2M in annual sales using "zero-inventory cash flow machine"
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OMJ's South End store, located near Superica
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Advantage: Unlike traditional retailers who hold inventory and absorb the cost of unsold items, every suit at OMJ Clothing is made to order.
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Backstory: College roommates Bradley Rhyne and Filipe Ho left their corporate jobs to start the business with $12K in credit card debt.
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Now 14 years old, OMJ Clothing does around $2M in annual sales 🚀
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Featured in Garden & Gun and voted “Best Men's Clothing Store in Charlotte”
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Shop: Schedule your custom suiting appointment with OMJ today!
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CAREER PIVOT
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41-year-old inflatable pumpkin entrepreneur debuts $20 award-winning children's book
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Half a BILLION organic social views over 4 years
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Backstory: Former tech designer Dave Mason plans to sell 4,000 Trick Ghastly inflatables this Halloween season. Cost is $199.
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How it works: You create your custom playlist and the 7-foot pumpkin lip-syncs.
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"Fans and customers are more important than anything else," says Dave, who started this as a side hustle in 2023.
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It's now a scary-big business. Dave's got a warehouse in South Charlotte along with a $50K content studio.
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"You don't need a lot of capital, a perfect product, or paid ad campaigns to launch a product. You do need 1,000 fans."
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New book: This Halloween season, Dave published a companion book titled Stay Spooky. He's sold over 500 so far at $20 per book. 50% margin.
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Insight: "Even with 900K social followers, a $20 book is a harder sell than a $200 talking inflatable DIY pumpkin. Who knew!?"
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MONEY TALKS
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52-year-old cybersecurity pro making $250K says VOOG investment "paying off in spades"
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131 Main SouthPark, this guy’s favorite restaurant
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Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate.
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Family: "We've got 2 children. Oldest at UNC. Youngest dual-enrolled at CPCC while also attending high school. Amazing program. It's free!"
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Job: “I work in cybersecurity. $250K total compensation. My wife owns her own business which generates $60K.”
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Work-life balance: “Excellent. With my technology background in cybersecurity, cloud, and AI, I could likely earn more elsewhere, but I love my employer. I'm okay leaving money on the table.”
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Regret: "We got $10K in cash at our wedding in 2004. My wife wanted to use it to buy Google at its IPO. I thought it was too risky. This would now be $1.6M. Always listen to your wife!”
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Net worth: “$2.5M. My advice is to continue to put money in the S&P 500 and don't look at the statements for 30 years.”
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Rich in Charlotte: “I have co-workers with country clubs, Porsches, and fine tailored clothes. No idea if that is mired in credit card debt or indicative of wealth. Candidly, I don't care.”
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Full story:Â 52-year-old making $250K still rides the $3 CATS Express Bus
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MONEY SNACKS
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5 other financial headlines I’m snacking on
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Iron Key Brewing Company near Asheville for sale asking $1.7M. Former prison. Real estate valued at $1.1M included. 7 acres.
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Panthers host Buccaneers at 1pm on Sunday. Upper bowl tickets start at $90. Lower bowl $174. Division leaders.
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Guard and Grace sells 127 filet flights in its first 6 days of service. Prime, Wagyu, and Grass-Fed. Price $121.
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Goldman Sachs survey finds that 37% of households earning above $500K say they’re living “paycheck to paycheck.”
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3-level cabin retreat in Western North Carolina asks $550K. Instagram famous. "Steampunk and Bohemian" inspiration.
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HOUSEKEEPING
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SORA in Myers Park pivots to a la carte menu with $65 Sashimi Ice Bowl
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Baku-inspired $65 Sashimi Ice Bucket from owner Birdie Yang
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Menu pivot: SORA in Myers Park now offers a la carte options instead of just their signature $186 tasting menu. Smart move. Open for lunch too.
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Tiny take: I sampled nearly a dozen lunch dishes with 2 buddies last Thursday. We were the only people in the restaurant 🤷‍♂️!
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Happy Thursday! Tomorrow is my neighborhood’s 4th annual golf tournament. 24 dads from our block will tee it up. 2-man best ball. After-party at my friend Trevor’s house.
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– Ted
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MONEY POLL
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Would you take a 5% pay cut to work from home?
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Last week’s poll results: Is $100K in annual income enough to live comfortably in Charlotte? (1,112 votes)
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