Any small business looking to raise money should pay close attention to this. Chicago’s Da Lobsta fast-casual restaurant, raised $70,000 in less than a week in an on-line campaign through Bolstr. The money will be used to launch Chicago’s first rolling lobster roll food truck!.
“We’re delighted with the support we’ve received from investors and the community. This is very exciting. We hope to have the food truck ready by early summer,” said J Wolf, creator and founder.
Da Lobsta earned more than $1 million in year one with its two locations, 12 E. Cedar and 131 N. Clinton at the Chicago French Market.
For those not familiar with Da Lobsta, think the American Dream on a bun. Da Lobsta serves authentic New England lobster roll sandwiches in addition to several varieties with a tasty twist. The menu also is filled with lobster, crab and shrimp specialties, such as Lobster and Crab Spinach dip, Lobster Grilled Cheese, New England Clam Chowda, Lobster Mac-N-Cheese, and delicious Chopped Salads. Creative lobster roll sandwiches, which can be made with lobster, blue crab or shrimp, include the Asian, the Mexican, the Greek, and the Indian.
“We were first to the market by offering an upscale lobster roll product at fast-casual prices, making it affordable for the masses,” said J Wolf, founder and owner. “We knew Chicagoans love their lobster and there was pent-up demand for lobster served at an affordable price. We have solved the riddle as to how to do it really well at a reasonably low price point.”
Da Lobsta’s Lobster Roll sandwiches are priced at $12.95, and they have clearly raised the bar on fast casual dining.
Da Lobsta has a large and dedicated Chicago following. A food truck will give the company more accessibility throughout the downtown and neighborhoods of Chicago.
Bolstr is a marketplace where successful local businesses access growth funding to scale. These business owners are starting small but thinking big! Through Bolstr they are establishing powerful networks of supporters who are all invested in the success of their business.
Bolstr transactions are structured using a revenue sharing agreement. Da Lobsta’s payout is said to be 1.25 times the initial investment or 4 percent of the revenue share.
In exchange for an investor’s upfront investment, Da Lobsta agrees to pay investors a percentage of their gross revenue, on a monthly basis, until the investors receive back the amount they put in plus a return on their investment.
For more information about Da Lobsta, please visit their website at www.dalobstachicago.com and find them on Facebook and Twitter.
