This is our best deal, I think; a win-win: We get to keep Sishu open and you get full use of the money you contribute instead of giving it away for free. We should've thought of it from the very beginning; I really don't know why we didn't.
Anyway, this is how it works:
Contribute any amount $5 or above.
Select the Gift Certificate perk.
We will send you a gift certificate in the amount of your contribution at the end of this IndieGoGo campaign.
The gift certificate will be valid for two years starting at our new location, and will be fully transferable. (NOTE: The gift certificate cannot be used at our current location.)
For those who have already contributed:
Whether you've already selected a perk or not, and would like this new perk, please let us know via email or via the Comment tab and we will send you the gift certificate at the end of this IndieGoGo campaign.
*** NOTE: This new perk does not come with the offer to use the contributed amount + 10% of our profits for the next five years to start a venture capital fund targeting small businesses in Ethiopia, since we'll be giving out gift certificates in the full amount of a contribution. We still intend to start the venture capital fund, though.
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The Context
Business practices in Ethiopia are awful: quality is virtually non-existent; customer service is dreadful; cheating is the standard; and wages aren't just low, they're impossible to live on.
We're trying to change that, because we believe it's a major reason Ethiopia remains one of the poorest countries in the world. We're not trying to do anything grand, just what we can; which is to run our business with the best standards possible. If we're very profitable at it (and we expect to be), we believe others will follow.
The Business
We've spent nearly three years and our combined life-savings building our business. It's a popular, family-friendly restaurant called Sishu (my partner's nickname she's the one narrating the video.) We're known for our quality and consistency, and many consider our burgers the best in the country. We're known for ambiance, too: a casually-elegant decor that's a bit retro. It reminds Europeans of Europe, Americans of America, Ethiopians of their childhood.
We have a playroom for kids and tabletop games for all ages: jigsaw puzzles and board games, a Connect Four that's falling apart because of heavy use, held together with tape and glue. We also have a tiny library, with books and magazines that are free for anyone to read on premises or to borrow. We get donations from customers from time to time a book or two here, a bagful there. The collection shrinks and grows; and the balance swings from one genre to another depending on the tastes of the customers who happen to be donating or borrowing. It's one of my favorite things to watch: which new books have come in, which old ones have returned after long absences.
We employ 31 people, whom we pay living wages and a 10% share of our profits. They're more like family, really. Tiruwork and Abyot live with me, big sister and big brother to my kids. Biniyam started working with us as a day laborer. Now he's our kitchen manager: he's fantastic, and he's all of 23. We first hired Ephrem to paint the walls. Now he's one of our best waiters and our part-time electrician. Customers love him, and no wonder: He's as sunny as you can get, and he can remember what you ordered a month before. After working at the restaurant all day, he goes home and tinkers with electronics with his older brother. They recently built and sold an industrial-grade onion mincer (minces 20kgs 44lbs at a time). And this is what makes my day: they built it with attention to detail and a service and parts guarantee. I can go on and on: Ermias (the fix-it man and all-around organizer), the two Addises, Blen (as innocent as they come), Yirdaw (the workhorse) ...
And we actually have fans, customers who are rooting for us to succeed which is a big deal, I think.
The Problem
So, if we're so hot, what are we doing on IndieGogo?
Our place is going to be torn down soon. Actually, the whole neighborhood is coming down part of the government's drive to modernize and beautify the city. A much needed effort, but we (as well as most of our customers) think our place is beautiful, and would enhance rather than detract from the planned city. But we've lost that fight.
The short of it: We have to move. But moving requires a lot more money than we have, mainly because rent is unbelievably expensive in the city (relative to income) and advance payment of six months to a year is pretty much obligatory.
We will get no compensation for our investment in the place, because we don't own it (is that how it works elsewhere, too, I wonder?). No compensation for loss of business, either, because ... that's how things work here.
The Deal
We're working on getting equity investment (no chance of a loan, so far as we understand from the banks here). But it doesn't look like it'll happen in time. So we're hoping to raise enough from friends, family, and strangers (future friends) here on IndieGoGo to get started.
We're asking for a whole lot of money, but we think we're offering something worthwhile in return:
Once we've used the money to rebuild our business, we'll take every dollar contributed, plus 10% of our profits for the next five years, and start a venture capital fund targeting small businesses like ours in Ethiopia. And we'll reinvest all profits from the fund in perpetuity.
That's our major perk: your contribution will keep on giving long after you've forgotten about it. We have other perks, too, but it's our favorite. (See right side panel for the other perks we're offering.)
Here's
how we'll use the money, in order of priority:
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$7,000 Pay our staff during the three months we think it will take us to be up and running again. Our staff is our biggest asset, and we think it's our duty to make the transition as smooth for them as possible. (Everyone is expected to work wherever and whenever needed during the transition.)
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$30,000 One year's rent, at $2,500 per month. Just to put this in context: even by the most generous measures, the average yearly income in Ethiopia is less than $1,000.
$9,000 Renovation of our new place. Plumbing, electrical work, paint, etc. Most, if not all, labor will be handled by our staff. We may even end up saving money overall.
Other ways you can help
- Become an equity investor in our business. This is actually our preference. Investing in Ethiopia is by no means a safe bet, but the country needs socially-minded investors desperately. (Returns are excellent, too, if you manage past the risks.)
- Help us write our business plan.
- Donate restaurant equipment. A decent generator. Books.
- Spread the word far and wide: Facebook, Google+, Twitter, email, blogs, phone. Shout it from rooftops, if you're so inclined.
Team on This Campaign:
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Matthews TeshomeCo-Owner
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Sishu DenekeCo-Owner
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Shaun GoldstoneFriend
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Selam GeremewFriend