$10 million Could be Yours... if You Prove You’re Worthy of Investment
The founder of Shake Shack, Danny Meyer, is looking to invest in the latest and greatest restaurant, food and technology innovations.
Meyer’s own Union Square Hospitality Union has managed to raise $220 million in private equity funds on offer to entrepreneurs and startups looking to expand and develop their enterprises.
Meyer has made clear what his dream investment would be. He said it would be a business which has created something he wished he had thought of himself; as he and his team find it difficult to come up with their own concepts and inventions for the restaurant and food sector.
It’s not all about the product either, Meyer is looking for the perfect business partner, as Meyer’s chief investment officer Mark Leavitt said “the company owner should possess all the attributes Meyer would look for in an employee; someone he would hire to work in his restaurant”.
Leavitt has also said that they want to write $10-$20 million checks for minority stakes in a range of different companies. To gain such investment, companies need to have loyal followers as well as be able to amass more customers.
USHG has already invested some of their funds into food and restaurant related businesses, such as; Salt and Straw which is an Oregon-based ice cream company, and family owned and run Joe Coffee.
Meyer explained that he is simply not just investing money into small businesses, he wants to help them succeed. The share of the $220 million won’t all go to restaurants; Meyer has said he is looking for fresh, new and current business ideas, including; ordering apps, booking platforms or even food delivery services.