Blaze Pizza is similar here and is pretty good. Regards, Chuck
On Tue, Nov 8, 2016 at 10:41 AM, Josh Reynolds <[email protected]> wrote: > Imagine Chipotle but with fire roasted pizzas instead of Tex/Mex. Super > happy employees, modern atmosphere. > > On Nov 8, 2016 9:26 AM, "Chuck McCown" <[email protected]> wrote: > >> So, how are they better/different than the others? >> >> *From:* Josh Reynolds >> *Sent:* Tuesday, November 08, 2016 8:18 AM >> *To:* [email protected] >> *Subject:* Re: [AFMUG] OT Travis and Shark Tank >> >> >> Oops, forgot the link. >> >> https://modpizza.com/leadership/ >> >> On Nov 8, 2016 9:15 AM, "Josh Reynolds" <[email protected]> wrote: >> >>> Pretty O/T, but you should look at the the team MOD Pizza put together >>> over the past few years. Those guys are going places, and the food is great! >>> >>> On Nov 8, 2016 8:56 AM, "Travis Johnson" <[email protected]> wrote: >>> >>>> Yes, we can walk away if we can't come to a win/win deal. >>>> >>>> We aren't really looking for other investors... it's not about the >>>> money. We are looking for people that bring connections. My partner knows >>>> the former CEO of Skullcandy and he is interested (and has already invested >>>> in a different company we own). It's not about getting capital... it's >>>> about finding people that bring more to the table. >>>> >>>> Travis >>>> >>>> >>>> On 11/7/2016 3:59 PM, Chuck McCown wrote: >>>> >>>> Can you walk away? >>>> Do you want other investors? >>>> >>>> *From:* Travis Johnson >>>> *Sent:* Monday, November 07, 2016 3:34 PM >>>> *To:* [email protected] >>>> *Subject:* Re: [AFMUG] OT Travis and Shark Tank >>>> >>>> The actual deal paperwork is substantially different than the show... >>>> and I am now hearing from others that have been on previous shows that this >>>> is "normal". They have added royalties, commissions, bonuses and other >>>> "perks" (free product at cost), and they aren't really putting any cash >>>> into the business... instead they want an "option" to purchase equity at >>>> the offer price, but up to 5 years from now. >>>> >>>> As I said, we are still in negotiations. I am guessing most people on >>>> the show think this is a "normal" deal and so they accept it. Luckily for >>>> Megan (the Founder), we are involved. :) Having just completed a Series A >>>> investment round for another company (raising $7 million, including a large >>>> investment from Salesforce Ventures), we have a lot of experience with >>>> putting deals together. As it is written now, it's a terrible deal... but >>>> this company has some huge potential... so we are still working it out. LOL >>>> >>>> Our biggest irritation is when someone says "that's just how we do it" >>>> or "this is normal". We have never accepted any investment deal (on either >>>> side of the table) as it was originally written... even with someone like >>>> Salesforce Ventures, who has done over 280 investments in the last 5 years. >>>> We made them make changes on their "standard" investment documents that we >>>> weren't comfortable with. We have made large investment banks make changes >>>> to their loan documents (requiring a Senior VP approval) in order for them >>>> to get the deal. :) >>>> >>>> Travis >>>> >>>> >>>> On 11/7/2016 2:06 PM, Chuck McCown wrote: >>>> >>>> Doesn’t sound like it if there are commissions and royalties now. >>>> >>>> *From:* Chuck Hogg >>>> *Sent:* Monday, November 07, 2016 1:47 PM >>>> *To:* [email protected] >>>> *Subject:* Re: [AFMUG] OT Travis and Shark Tank >>>> >>>> The big question, is it still what the offer was on the show? >>>> >>>> Regards, >>>> Chuck >>>> >>>> On Mon, Nov 7, 2016 at 1:16 PM, Travis Johnson <[email protected]> wrote: >>>> >>>>> Correct. We only got the actual deal paperwork from him three weeks >>>>> ago. >>>>> >>>>> Travis >>>>> >>>>> On 11/7/2016 10:56 AM, Chuck Hogg wrote: >>>>> >>>>> Wow. So since June and still no deal with Daymond? >>>>> >>>>> Regards, >>>>> Chuck >>>>> >>>>> On Mon, Nov 7, 2016 at 12:48 PM, Travis Johnson <[email protected]> wrote: >>>>> >>>>>> Yes, filmed in June. We spent $4,000 on FB ads and generated $108,000 >>>>>> in sales. We also blew up the FB and Instagram pages, and ran a BOGO sale >>>>>> all at the same time. We have over 200k followers on FB right now. >>>>>> >>>>>> Travis >>>>>> >>>>>> >>>>>> On 11/7/2016 10:35 AM, Chuck McCown wrote: >>>>>> >>>>>> So it must have been filmed in June. >>>>>> She mentioned dumping a bunch of coin on advertising. Was that all >>>>>> on FB? >>>>>> >>>>>> *From:* Travis Johnson >>>>>> *Sent:* Monday, November 07, 2016 10:18 AM >>>>>> *To:* [email protected] >>>>>> *Subject:* Re: [AFMUG] OT Travis and Shark Tank >>>>>> >>>>>> Honestly, not much... :( >>>>>> >>>>>> Over the last 3 days, we have seen about $70,000 in additional >>>>>> sales... so it made a difference, but not what we were hoping for. Our >>>>>> single biggest day was in June this year, when we went all out on >>>>>> marketing >>>>>> and FB ads and we did $108,000 in sales in a single day. >>>>>> >>>>>> Travis >>>>>> >>>>>> >>>>>> On 11/7/2016 10:07 AM, Chuck McCown wrote: >>>>>> >>>>>> What did the show to to sales in the past few days? >>>>>> >>>>>> *From:* Travis Johnson >>>>>> *Sent:* Monday, November 07, 2016 10:05 AM >>>>>> *To:* [email protected] >>>>>> *Subject:* Re: [AFMUG] OT Travis and Shark Tank >>>>>> >>>>>> Hi, >>>>>> >>>>>> The Shark Tank episode was very edited and chopped together. She was >>>>>> actually in front of the sharks for over 90 minutes... they cut it down >>>>>> to >>>>>> 8. Here is the basic summary: >>>>>> >>>>>> She started the company with her brother after he gave her about >>>>>> $2,000 to buy inventory. They tried out for Shark Tank (4 years ago) and >>>>>> didn't make it past the first stage. Another person saw a local news >>>>>> episode about her and the company, and contacted her. He gave her $3,000 >>>>>> in >>>>>> cash, and paid her rent for a year in exchange for 50% of the company >>>>>> (basically buying out her brother). >>>>>> >>>>>> Those two were involved for about 2 months before they realized they >>>>>> needed more money and expertise to make anything happen. They contacted >>>>>> me >>>>>> via email, and we had a meeting. We told them in the meeting we would do >>>>>> an >>>>>> investment, and asked how much and what they would give up. They told us >>>>>> $30,000 for 50% of the company. We gave them exactly what they asked for. >>>>>> Also, at this point, her total sales for all of 2014 was $7,000. That's >>>>>> TOTAL SALES... not profit. So there are four of us, each at 25% ownership >>>>>> right now. >>>>>> >>>>>> We then took the company from $9,000 total sales in 2014 to $1 >>>>>> million in sales in 2015. We provided business experience, obtained a >>>>>> line >>>>>> of credit at the bank, helped setup the e-commerce website, helped >>>>>> finance >>>>>> inventory (doing a personal loan to the company), etc. >>>>>> >>>>>> We then put a CEO in late 2015 that has helped take the company from >>>>>> $1 million in 2015 to now we will do over $4 million in 2016. >>>>>> >>>>>> There is not a single person I know of that would have invested $30k >>>>>> to a business that had only done $7k in total sales for the year. No >>>>>> shark, >>>>>> no other investor I have ever talked to about this deal. Everyone just >>>>>> laughs when I tell them. >>>>>> >>>>>> This episode was actually filmed about three months ago. We only >>>>>> received paperwork from Daymond's group about two weeks ago, and we are >>>>>> still in negotiation with him. The deal paperwork is SUBSTANTIALLY >>>>>> different than the episode shows ($400k for 20%). He has had no >>>>>> involvement >>>>>> with the company thus far, and does not have any ownership or equity yet. >>>>>> >>>>>> Reality TV is not very real. LOL >>>>>> >>>>>> Travis >>>>>> >>>>>> >>>>>> On 11/7/2016 8:56 AM, Chuck Hogg wrote: >>>>>> >>>>>> So Travis, are you a 1/5th partner now instead of a 1/4th? Not bad >>>>>> that you got in that cheap and Daymond paid some major change. >>>>>> >>>>>> Regards, >>>>>> Chuck >>>>>> >>>>>> On Sat, Nov 5, 2016 at 12:09 AM, Chuck McCown <[email protected]> >>>>>> wrote: >>>>>> >>>>>>> Odd, I was expecting Kevin but you got Daymond and nothing was >>>>>>> mentioned about royalties. >>>>>>> Did she say she had $100K revenue in one day? >>>>>>> What e commerce platform? >>>>>>> Where was that ad buy she mentioned? >>>>>>> >>>>>> >>>>>> >>>>>> >>>>>> >>>>>> >>>>>> On 11/7/2016 8:56 AM, Chuck Hogg wrote: >>>>>> >>>>>> So Travis, are you a 1/5th partner now instead of a 1/4th? Not bad >>>>>> that you got in that cheap and Daymond paid some major change. >>>>>> >>>>>> Regards, >>>>>> Chuck >>>>>> >>>>>> On Sat, Nov 5, 2016 at 12:09 AM, Chuck McCown <[email protected]> >>>>>> wrote: >>>>>> >>>>>>> Odd, I was expecting Kevin but you got Daymond and nothing was >>>>>>> mentioned about royalties. >>>>>>> Did she say she had $100K revenue in one day? >>>>>>> What e commerce platform? >>>>>>> Where was that ad buy she mentioned? >>>>>>> >>>>>> >>>>>> >>>>>> >>>>>> >>>>>> >>>>>> >>>>> >>>>> >>>>> >>>> >>>> >>>> >>>>
