Crowdestor is presenting "Meat Chef", a steak restaurant project. Company is seeking a loan for the needs of rebranding and reconstruct existing stake restaurant, which is located in the historical centre of Riga.
Meat Chef is seeking the financing of minimum target EUR 50’000 for 12 months period. The loan will carry a 14% annual interest rate paid monthly.
Max. target: EUR 75 000,00
Min. target: EUR 50 000,00
Loan term: 12 months
Interest rate: 14% per annum
Interest payments: paid monthly
Loan repayment: In full at the end of the Loan Term.
Crowdestor BuyBack fund: Yes.
Collateral Agent: Crowdestor Security Agent OÜ
Meat Chef - a trendy restaurant for meat lovers and others offering best quality dishes in a light and relaxed atmosphere.
The demand for restaurants and dining experiences has changed much in the past decade in Riga, Latvia. A new trend has developed in the past years - fine quality meals and products are served in more casual restaurants allowing customers to enjoy only the best on a daily basis not having to wait for special occasions.
Since 2003 three Steiku Haoss restaurants have been opened and operated in Riga, Latvia. These are upscale steak restaurants with fancy western style interiors featuring massive furniture pieces, animal skins and antique decorations. Years of experience and special relationships with meat suppliers and butchers have allowed serving the best quality steaks at Steiku Haoss. However, above average prices and fine-dining ambiance for years have lead this brand to be perceived as rather expensive and out of reach among local customers. Furthermore, customers have become more educated about cooking processes and the demand for open fire grilled meat has been increasing rapidly in the past years. These are reasons for decreasing demand and a strong necessity to adapt and change.
After 16 years of being in the market with the brand Steiku Haoss end of year 2019 Steiku Haoss restaurant on Tērbatas street 41/43 will be closed to soon open The Meat Chef restaurant. Meat chef will continue to serve only the best, but in a more casual manner - a modern and informal interior and affordable prices, thus delivering better quality and unique flavors with the help of a natural charcoal grill.
This Meat Chef restaurant on Tērbatas street will be the first of three restaurants in Riga, other two opening in spring 2020. In 2020 the first Meat Chef outside Latvia will be opened. Next restaurants will be larger in size allowing to install a much larger charcoal grill with a smoker.
The Meat Chef restaurant will be the first steak & meat restaurant in the city cooking most of its dishes on an open fire grill in the restaurant’s dining room visible to it’s customers.
The menu will have appetizers, salads, soups, steaks, burgers, fish and desserts featuring both classics with a Meat Chef twist, and best quality rare finds. Most of the dishes will be totally or partially grilled to give them the special taste. Furthermore, there will be a take-away option for the growing segment eating on the go. The price level at Meat Chef will be at market average, lower than currently at Steiku Haoss, also offering a wider range of products from lower priced to more valuable options.
The restaurant will offer a well-selected wine list, a short, but exquisite cocktail list, local craft beers and great coffee.
Meat Chef will have custom fabricated spices and sauces to guarantee consistent taste for each dish. These spices, sauces, together with frozen Meat Chef signature beef burger sets will be offered for sale in the restaurants, as well as, in the finest grocery stores.
The restaurant will be located in excellent premises on the corner of Tērbatas and Ģertrūdes streets with large windows to both streets. The dining area consists of two connected rooms along the facade on each of the streets. The centerpiece of the new restaurant will be a custom manufactured charcoal grill with several cooking options, located in the entrance room together with a large high dining table seating up to 14 customers and the bar. This room is perfect for enjoying the view of one’s meal being prepared, master classes with the chef, a quick meal or drink. The other room around the corner, a little more slow and comfortable will be able to seat another 36 customers at both high and low tables with a view at the meat aging lockers and a large glass wine cooler.
The main materials used will be wood, metal, glass, leather and velvet. Special attention will be paid to lighting in order to create the right atmosphere both during day and night time in combination with unique neon decorations.
Designers of the first and also the following Meat Chef restaurants are Kirson Design Group, local professionals that have taken part in development of some of Riga’s trendiest restaurants and bars.
The two owners of this restaurant have been in the hospitality industry in Riga for over fifteen years. They are also shareholders of one of the oldest restaurant chains in Latvia and founders of Latvijas Restorānu biedrība (Latvian restaurant association) aiming to organize the hospitality industry and it’s applicable legislation. Currently the most important objective of LRB (Latvijas restorānu biedrība) is decreasing VAT for restaurants from 21% to 12% which would grant the industry higher net profits that could be invested in development and human resources leading to increasing sustainability of the industry.
The Meat Chef head chef has been with the team for years spending the last year in Monaco developing and fine tuning his skills. He is dedicated to meat and his passion is letting products speak for themselves, bringing out the best taste of each ingredient by choosing the most appropriate cooking means and product combinations, however, keeping it simple, understandable and unforgettably delicious. 
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