What if the campaign is successful, but then for whatever reason, a restaurant is not opened in the original G&T location, and by this particular group of investor-owners? Do all Wefunder investors receive a full refund, and after a certain amount of time of the restaurant...

Hi Lynn! Thanks for the question. This company's sole purpose is to open and operate a restaurant called Gage & Tollner in the old Gage & Tollner building at 372-374 Fulton St. I assure you that we're working very hard to make that happen. As for the rest of the question, I would ask that you read the "default" section of the contract, because it really depends on the situation. We are under an ongoing obligation to build this restaurant, generate revenue, and pay you back. But ultima...

Can you share any assumptions you used to arrive at an annual revenue forecast? Are these based off #s at your own restaurants or others of G&Ts size?

Hi Daniel, another excellent question. I'm going to work with Wefunder to add some documents to this profile — our spreadsheets that show how we arrived at some of our assumptions, like our average COGS, our labor costs as a percentage of sales, average checks, and daily gross income. Please check back towards the end of the week for those. Other assumptions come directly from our experience at our other three restaurants, like controllable expenses, administrative expenses, and credit c...

What is your timeline for renovation of the current space, hiring, training, opening, etc.? How does that tie into the funds raised through Wefunder?

Hi Courtenay! Thanks for the question. When our Wefunder campaign is complete (let's say three months from now), we'll take possession of the space and begin construction. Most demolition and construction work has to be done on the second floor, where the private dining rooms and the Sunken Harbor Club will be. One of the advantages of the Gage & Tollner space is that previous owners put a lot of time and money into modernizing it, most recently the TGI Friday's that opened in 2004. While...

The proposed menu doesn't have much for vegetarians. Do you plan to accommodate less carnivorous diets?

Hi Sarah! This is from Chef Sohui: "Dear Sarah, Thank you so much for your question! This question is very important to me and its one that I posed to my partners when I was designing the menu. Most people know that an oyster and chop house concept will be very meat- and seafood-forward. However, I'm excited to use my know-how with vegetables in this menu as much as I look forward to the fabulous meat and seafood programs, all devoted to sustainability. For me, the secret of a great chop hous...

I'm bad with numbers (?!) but.... I see it says: 1.25X1.5Xpayback multiple 1.5X REVENUE SHARING Investors who fund the first $400,000 of this fundraise will receive 100% of their principal and an additional 50% on top. Secured revenue share The company will pay investors 4% of...

Hi Lynn, I'll explain this as best I can! If all goes well, our investors will be paid back a multiple of their investment. For our early-bird investors (the first $400,000 of investment), that's 1.5x. For other investors, that's 1.25x. As you put it above, "should all go as planned... investors will not only receive back their initial investment, but an additional 25% or 50% on top of that." After that point, our financial relationship comes to an end (but we can still be friends). And yes —...

Gage & Tollner: Oyster & Chop House Updates, Team, and Funding Progress

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Founding team has 3 successful NYC restaurants between them.

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Located in the heart of Downtown Brooklyn, currently the center of intense private and commercial residential development. Served by 19 public transit lines, it's been a bustling neighborhood since before Brooklyn was a borough.

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The dining room is a unique, Gilded-Age jewel, sure to be a tourist destination in its own right. The third interior to be "landmarked" in NYC. To re-create it today would cost millions. "One of Brooklyn's most venerable and beautiful restau

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Five generations of goodwill: Brooklynites love this restaurant and want it to come back

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Limited ramp-up time: The building has 19th century charm but largely 21st Century infrastructure, put in by pervious tenants

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Limited neighborhood competition in one of the fastest growing neighborhoods in the city

Gage & Tollner: Oyster & Chop House

A historic Brooklyn restaurant reborn

$484,091

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Gage & Tollner: Oyster & Chop House

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$484,091

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