Current investment opportunity offers CROWDESTOR investors to make a business loan in the amount of EUR 30 000 to the owners and operators of restaurant brand Meat Chef in Old Town. The first loan of EUR 125 000 was raised in January 2020 for the first design and construction works at the premises and second in May 2020.
Due to Covid-19 and the emergency situation in Latvia and several countries abroad, the development of this restaurant was paused for two months. With signs of an increase in demand for restaurants and diminished restrictions construction of Meat Chef in Old Riga is being continued since June, however, at a slower pace to be ready to be opened when borders will be opened and tourism will start again. This loan of EUR 30 000 will be used for electricity, heating installments, and wall plastering in all three restaurant floors.
Meat Chef - its a trendy restaurant brand for meat lovers and others, offering the best quality dishes cooked on a charcoal grill in a light and relaxed atmosphere for a reasonable price.
This brand was developed in response to a rapidly growing trend - fine quality meals served in more casual restaurants allowing customers to enjoy the best on a daily basis, not having to wait for special occasions.
Instagram @meatchef.lv
Max. target: EUR 30 000,00
Min. target: EUR 10 000,00
Loan term: 11 months
Interest rate: 21% per annum
Interest payments: paid at the end of loan term
Loan repayment: In full at the end of the Loan Term
Security: Guarantee of the Borrower and prohibition to make profit distributions to the Borrower’s shareholders until Crowdestor loan is fully paid back
Crowdestor Provision fund: Yes
Collateral Agent: Crowdestor Security Agent
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 operating under the brand "Steiku Haoss", and founders of Latvian Restaurant Association aiming to organize the hospitality industry and its applicable legislation.
The most important objective of the Latvian Restaurant Association was decreasing VAT for restaurants. In the day of publishing the first fundraising campaign of Meat Chef, on January 20, 2020, a long-awaited moment came and a memorandum of understanding was signed between Ministry of Finance and Latvian Restaurant Association for decreasing VAT for restaurants from 21% to 12% which allows creating a more sustainable and transparent business environment in the industry.
The head chef of restaurant Meat 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.
The first Meat Chef restaurant was opened in Riga on December 17, 2019. As a result of the professional planning of the construction period and staff training, it took only 22 days which is twice faster as expected.
It is located in the city center, Tērbatas street 41/43 – a corner location with large windows. The restaurant offers 47 seats in different seating areas – at a large shared dining table at the open bar and charcoal grill and private tables in a more quiet seating area.
Funds for opening of first Meat Chef # 1 was raised in Crowdestor.
Meat Chef restaurant has received an immense amount of great reviews and comments from its customers. In the past months since the opening, it already has loyal frequent guests. It has quickly turned into a must-visit place in Riga.
Meat Chef # 2 is the second restaurant of a chain that will be developed in the closest future. The first Meat Chef is in the city center of Riga, the second in Old Riga and the next to come will be in Berlin, Germany.
Location for Meat Chef # 2
Corner location in one of the best restaurant premises on Old Riga – on the intersection of two main tourist streets.
Layout and interior design
Meat Chef # 1 will be continued in the new restaurant both layout and interior design-wise. The centerpiece – an open charcoal grill will be located in the entrance room, together with a large shared high dining table and an open bar. This will be the place for those in a hurry or those interested in the making of their meal.
Also, chef’s masterclasses will be held at the large dining table with a good view on the grill. The second-floor room will host those who wish for more privacy and calmness. Also, the second floor will be able to host larger groups.
The interior is designed once again by Kirson Design Group keeping the focus on such materials as dark metal, stainless steel, glass, burnt wood, leather, and velvet.
Menu
The menu of Meat Chef # 2 will be based on the first restaurant’s menu, with an addition of lighter dishes in the summer season. Still, the main focus is on meats, steaks, and burgers, however, being ready to please the customers’ wishes for salads, soups, appetizers, and desserts. Take-away will also be available.
January – sketches, blueprints, legal work, ordering of kitchen and bar equipment.
May / June / July – construction – ventilation and heating installment, flooring, wall finishes. Ordering of interior objects.
August – kitchen, grill, and bar installment. Staff training, menu testing.
August / September - opening
The centerpiece of each Meat Chef restaurant is 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 is a little calmer and with more comfortable seating offered to 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 are wood, metal, glass, leather, and velvet. Special attention is paid to lighting in order to create the right atmosphere both during the day and nighttime in combination with unique neon decorations, meat aging locker lighting, and lightboxes.
Designers of the first and also the following Meat Chef restaurants are Kirson Design Group, local professionals that have taken part in the development of some of Riga’s trendiest restaurants and bars.
The Meat Chef restaurant is the first steak & meat bar in the city cooking most of its dishes on an open fire grill in the restaurant’s dining room visible to its customers.
The menu has 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 are totally or partially grilled to give them a special taste. Furthermore, there is a take-away option for the growing segment eating on the go. The price level at Meat Chef is at the market average, offering a wide range of products from lower-price to more valuable options.
The restaurant offers a well-selected wine list, a short, but exquisite cocktail list, local craft beers, and great coffee.
Meat Chef has 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 from summer 2020.
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