Question 1

I see your note about paid search above. What is your approach to direct response advertising in social media (Facebook, Twitter, YouTube, etc.)?

Accepted Answer

Hi Alec thank you for your support of our brand and for your inquiry. We strongly believe in ongoing testing when it comes to marketing. With measurability being key, the digital space is an excellent place to do that. We have done campaigns on various social media platforms in the past and currently have one live on Facebook. In short, we believe if you approach the platform & audience with the right goal & message then direct response advertising on social media can be an effective ...

Question 2

I see in the timeline that the grand vision is to open up an all American steakhouse featuring your steaks, while I like this idea it makes me a little nervous why don't you build the premium steak brand, instead of opening a steakhouse, and are you only going for one steakhou...

Accepted Answer

Hi Jonathan, that’s a great question, thanks for submitting it. Our primary focus is to continue to expand our premium steak brand. We are committed to doing that by expanding marketing efforts in the following areas: campaigns focusing on corporate gifting, targeting Foodie & Wine publications, building relationships with key industry influencers, bringing on more wholesalers like Costco, and expanding PR efforts. With that said, we believe the Chicago Steak Company brand can also expand...

Question 3

Since you have an established business history, I would've been interested had you offered a convertible note or straight equity with payouts like Hopsters and Bloomery did. I'm not a fan of SAFEs as a path to equity, so I'll pass on your offer. Hawaii Cider changed their offe...

Accepted Answer

Scott, thank you for your comments. You are correct that we have an established business but we are now looking to take it to the next level. There are many paths to equity and we took various structures under advisement prior to launching this campaign on WeFunder. We believe that the SAFE Agreement best fits our needs at this time as it will allow us the flexibility to invest these funds into marketing efforts to expand the brand without the pressure to convert before those investments are ...

Question 4

What are your figures for reorders/retention?

Accepted Answer

Hi Robert, thank you for your question. Retention rate is extremely important to us and first and foremost we have the distinct pleasure to deliver to our clients the ultimate steak experience which makes it easy for us to retain customers who love the best. More specifically we have instituted several programs over the years to help keep us in tune with our clients needs and to keep them engaged with our products. Here at Chicago Steak Company we are selling an experience, and that begins fr...

Question 5

Is there a plan for payouts similar to Hopsters? Many leading companies doing the same sort of business have been around for a while and they remain private. Why would you ever go public or sell? I believe payouts will be much more appealing for investors.

Accepted Answer

Hi Nadim thanks for your interest in our brand. There are many ways to structure investment agreements and there are pros/cons to each. Our plan is to increase the brands value by growing current market share, building out Maine Lobster House, and bringing on additional wholesalers. We believe future steps will include either: a need for additional funding for further expansion or an acquisition. In both of these scenarios opportunity for investor payouts would occur.

Chicago Steak Company

Online cut-to-order retailer for the world's top 2% of beef

$82,580

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Chicago Steak Company

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$82,580

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