Jonathan Brinckman has a fascinating article on Page One of the business section in today's issue of The Oregonian on how The Green Dragon Bistro and Brewpub and Kenny & Zuke's Restaurant in Portland are appealing to beer lovers and foodies respectively for initial financing. Both businesses are scheduled to open this October.
In the case of The Green Dragon Bistro and Brewpub, people who give $2,500 become "founders." The cash is a personal loan to Jim Parker, one of the pub's four owners. Founders are paid back $500 for five years, have a guaranteed seat at a bar stool with their name on it, enjoy a first beer each night for free, receive a mug with their name etched on it, and get 10 percent off their tab for five years.
Kenny & Zuke's Restaurant is declaring people who give $2,000 as "members." The cash is an advance purchase. Members get $2,400 in transferable gift certificates spread out equally over 24 months, 20 percent off catering services, invitations to all restaurant parties and two Kenny & Zuke's T-shirts.
I just spoke with another Portland restaurateur who is struggling to create buzz for his newly-opened restaurant, and I'm sure that he would have benefited from an arrangement similar to those above. Just imagine the commitment that people lending you money have to see you succeed. How can they not become excellent sources of positive word of mouth? Furthermore, attracting such financial support before you open your doors is a wonderful way to convince the media that your place is worthy of their attention. In fact, I'm so impressed with the creativity of The Green Dragon Bistro and Brewpub and Kenny & Zuke's Restaurant that I'm curious to try them when they open. If their food creativity matches their financial imagination, I'm sure that I'll be in for a treat.

