🟢 How much to open an ice cream shop?

Hello Thursday. I went to see Gladiator 2 with four other neighborhood dads on Wednesday night at Park Road Shopping Center. Beforehand, we grabbed a quick bite at Burtons, which was slammed and buzzing. Since when did Burtons become the place to be?!

The new AMC experience is a bit cheesy, but awesome. Endless popcorn bucket, Voodoo Ranger IPA from AMC's MacGuffins Bar, and plush fake leather reclining seats! I really like reserving my actual seat.

As for Gladiator 2, I give it a 6.5/10. Sharks in the coliseum and the emperor's pet monkey Dundus were a bit much.

💼 Hot Job: Market Sales Leader at Craftwork ($70K – $90K). Hiring manager is chief growth officer Joey Skavroneck, Stanford MBA grad. Revenue growing 50% each quarter. Startup investors include Y Combinator, General Catalyst, Forerunner Ventures.

👩👨Shout-out: Katy & Joe Kindred, owners of Kindred, Milkbread, Albertine, and Hello Sailor, on 10 years of restaurant ownership! They're celebrating with “Sundays at Kindred” featuring 5-course meals from rotating chefs.

MARKETS: YEAR-TO-DATE

THE LEAD

Seemingly Overzealous invests $245,155 to open new Plaza Midwood ice cream shop

Revenue projections: "We expect a dense neighborhood shop to exceed $550-600K annually,” explained Garrett, who previously sold Hygge to COhatch for an undisclosed sum. “The ceiling gets a good bit higher if we expand on the hours and product offering."

Because they centralize production and build-out only takes 90 days, their model allows them to afford higher rents in prime locations.

Surprising: Their ice cream vending machine at Monday Night Brewing is crushing it. "Breweries are the spot," Garrett shared.

Dirty secret: "Most ice cream shops are NOT making their ice cream from scratch. They either order fully churned ice cream or use a pre-gel. Everything we make is 100% from scratch.”

What's next:

Full breakdown: Itemized costs to open ice cream shop in Plaza Midwood

PRESENTED BY MIDWOOD SMOKEHOUSE

Midwood smokes all meat for hours over local hickory hardwood

Appetizers: Best in the business! My 4 favorites are Miguel's queso (add chorizo), smoked meatballs, bacon-wrapped jalapeños, and pimento cheese fries.

Recommendation: Go with the combo platter (pork, brisket, 1/2 rack of ribs, sausage) with their baked beans and mac and cheese ($35). Also comes with hushpuppies and house pickles.

Locally owned by my friend Frank Scibelli, there are now 6 locations in the Carolinas. Go crush Midwood craft barbecue this holiday season!

SWEATSHIRT KING

24 year old Asa LaBelle selling $600K in vintage sweatshirts

Clemson grad Asa LaBelle uses TikTok to market his embroidered sweatshirts. He's racked up over 52 million views on the app. This year he'll sell 12,000 sweatshirts.

Idea: “My brother gave me a vintage sweatshirt in college and I got more compliments on that than anything I've ever worn.”

Side hustle: “I still work at a financial data company. I needed some sort of creative, entrepreneurial outlet.”

Unit economics: On a $71 sweatshirt, Asa makes $25 in profit. Cost breakdown:

No UNC Chapel Hill: "I can't get their licensing team to approve me. I've tried 3 times. Rejected. I've heard from over 1,000 people asking for it."

TikTok tips: “My thought process is, 'what will a random person stop and look at?’ People want to relate to others. Showing my face and talking into the camera creates a personal feel.”

TINY MONEY JOB BOARD

Who’s hiring in Charlotte? 5 Trending jobs

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Hunting? View all 57 postings on the job board

MONEY TALKS

62 year old making $1.4M a year invests in biotech and land near Harrisburg

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

Net Worth: "Roughly $10M. My advice is to start early, take risks, and always expand your network because it's your most valuable asset other than your character."

Noteworthy investments: "I've invested in some early phase biotech drugs which have grand slam potential — but could also be a total loss. Ultimate risk reward! One drug is pending final FDA approval and my liquid number will be 10-20X my original investment."

Charlotte Money Hack: “Buy land just outside 485, between 74 and Harrisburg. It is going to explode over the next 5 years and beyond.

What’s “rich” in Charlotte: “There are so many multi-millionaires here that you’d need to be in the $50M net worth range.”

Worst financial decisions: "I got behind on my taxes when I started my business. The compounding interest and fines nearly broke me. I had to borrow $100K from my Mom (God bless her!). Happy to say I have never missed a quarterly payment since then."

Full story: Portfolio breakdown of 62 year old technology consultant

MONEY SNACKS

5 other financial headlines I’m snacking on

HOUSEKEEPING

Harriet’s Hamburgers debuts “limo” box

Pricing: The "Fifty Fifty Limo" includes a selection of 5 hamburgers of your choice, 5 crispy fries, and Chef Brian’s sauce bundle for $75. View limo options.

Bullish: Many regard Harriet’s Hamburgers as the No. 1 burger in Charlotte. They’re currently building out locations in Matthews and Concord, which will bring their total to 4.

Happy Thursday! I’m teeing it up with a buddy at Myers Park Country Club this afternoon. After going low (predicting a 76), I’m going to crush tuna nachos in the swanky men’s grill.

– Ted

MONEY POLL

Last week’s poll results: How much will you spend on holiday gifts this year? (6,029 subscribers)