[ Small Grants: ProNouns] Funding for a 24 hour - unstaffed Ramen NFT bar opening in Oxford

Dear Nouns - My name is Indra tor, and I would like to propose a small grant or funding chance for the UK’s first ever 24-hour un-staffed ramen bar with an NFT gallery and NFT, which allows the owner to eat for free at any location.

Our project is currently being covered in the news in the UK. You can discover more of this at our twitter @ez24ramen and it is gaining a lot of excitement.

Why a Ramen bar - Over the pandemic, we have seen people’s eating habits and way of life change with remote working and schedules now being different. There has been a rise in people wishing to eat alone or have a contactless experience. We choose ramen because in the UK over 400 million packets are eaten each year up 100 million over the pandemic.

We also believe in supporting students and the local community and wanted to create a place that was cheap to eat at and also allow customers to choose how to use their time at our restaurant.

Our business is a complete business that has a model built around subscriptions and working with existing NFT projects to generate money. The business is open to everyone and is not just focused at the web 3 world.

The reason for this is personally, I belive we need to start showing more real-world utility to people on the outside. We need a more organic place for them to learn about NFTs.

As much as NFT galleries are great for showcasing PFP and other art projects, most people never step foot in one.

With EZ ramen, every store has a gallery our oxford store will feature over 44 artists already selected to be showcased. We have business models and ideas around this also.

Our NFT drop called the Mukbang collection offers free food at any location, we wish to expand all over the country and then to Europe and beyond.

The reason for the NFT is simple we want to allow people to eat good food for free and also to showcase a real-world use for an NFT.

It’s hard to explain the benefit of an NFT to someone when using words like staking, burning, airdrops, whitelist etc.

Our NFT you can explain like this: Own this and get free food. I can easily explain that to every mother in the country.

We would be happy to work with Nouns in any way possible we can give access to our stores. We are open to any kind of deal for what we are asking.

we are asking for 150 to 200k to be able to open and operate a store for 12 months and allow the store the chance to gain a community and subscriber base. At this point, our NFT sales and sales from the subscriptions can easily secure the business and open more stores to let us grow.

We are more than happy to discuss anything else or answer any questions
you can find a lot of the information on our website, which is linked to our Twitter.

Thank you for your time, and sorry if this is the wrong place for this.

Kind regards

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Cool idea. Do you have any pictures or videos of your current operation? I’d love to see how it works.

I was also curious about this part of your prop:

What does this mean? You have enough sales already to be self-sustaining? What do those numbers look like now? Do you have a business plan in order that you could show current profits and projections? I would love to see more and I think that would be necessary to every get something like this through the main DAO proposal process.

Lastly, for now, how would you make this nounish? Since you have already started some branding, would you be planning to shift that to include Nouns in some way?

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Hi Andrew

Thanks for the comment. We have a mock-up of how we want the store to look. This can be viewed on our website. Not sure if I can link websites here, but you can find it on our Twitter @ez24ramen
equally, we have a pitch deck which goes into more details about this in terms of the business operation and our projections so this is something we can provide.

We seek funding to open the first store and give it 12 months. This costs around 150 to 200k.

Once the store is open, we will work on bringing in subscriptions, and our NFT sale will be ongoing. We are looking at selling 5000 for 0.15 eth. We don’t expect to sell out and expect it to be a slow ongoing sale.

But because we are not a PFP and the NFT is more like a membership, we are not too worried about selling out in the first 5 mins, if that makes sense.

So during the 12 months, we hope to bring on 1000 subscribers and sell out.

The NFT would generate around a million dollars. This is then used to open more stores and fund our ongoing operation directly.

At around 1000 subscribers, the store would generate around $40,000 dollars a month on just subscriptions alone. This doesn’t take into account the selling of drinks, and desserts ( which are paid for from vending machines)

Hopefully, that makes it more clear.

We feel if we can secure the first store and document the whole process to get people excited and interested, this will help us in the next 12 months.

The store has already been featured in many articles across the UK as the word spread, and people seem interested in our idea.

To answer the question of how to make it Nouns, we could rebrand the oxford store and include the nouns.

For example, EZ 24 Ramen is Brought to you by Nouns and has information showcasing the awesome you did. We could even do a plaque outside the store saying this store was only possible by nouns etc.

We are open to ideas or suggestions on this and open to any business ideas etc should the nouns look to fund it.

EDIT -
I also forget to mention, we are pretty much ready to go we have all our suppliers and everything ready and we have our smart contract and web devs ready to build our website etc its ready to be put into gear so to speak.

thank you again

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Why are you coming with this proposal to Nouns instead of ex: BAYC, Doodles, or Moobirds?

What makes it uniquely nounish?

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Hi Krel

Thanks for the question, and I think we can only answer honestly.
I am a female in the space, also an NFT artist, podcaster etc, who has tried since day one to build and push artists out there and help, and there have been many times I have be shut down or closed off.

I’ve worked with both Known Origin and FND to bring about change and support artists. I was well known in the FND days because of a blog I wrote condemning the lack of support FND gives artists.

I have always pushed.

BAYC, Doodles and moonbirds as much as I respect them as projects, I never fully brought into their vibe. BAYC especially. I think it’s a very hard community and culture to be a part of it, and I find it’s not as welcoming to everyone and doesn’t sit well with me, it’s all about being flashy.

Moonbirds are much the same and along with doodles to a lesser degree.

Although these projects are popular and well funded, I don’t get the sense that they truly want to build out a future and take risks to push the long-term value of the space beyond trying to just make more money for themselves.

Nouns have shown they are trying to build something long-term. They are wanting to take risks and try and make a positive change. I feel you, as DAO is actually building and doing what you say you will.

I want to build something for the future that benefits the space, artists and local communities, our plans at ez ramen go beyond just selling subscriptions but also support students who currently are having a rough time. We want to work with student unions to give access to free food and with charities to support people who might need it.

Im not in it to become a popular meme or have X Hollywood celeb buy it into or have a community flashing they brought Lambos.

EZ 24 Ramen is about building something long-term and changing how things are done and being change. The space has to grow to include the outside world we need to bring people into the space in a much better way than just talking about bags and I feel that Nouns is not about that.

If anyone would likely fund a crazy idea of bringing ramen and free food to the world and showing people things can be done differently, I feel that is a very Nounish thing.

We would be honoured to have the name Nouns on our logo and it helps the DAO by being a positive forward step in the space, thousands of people will be eating and seeing Nouns everywhere, and with every free meal we can give to charity or a student in need is a part of that its a part of Nouns.

I am extremely passionate about wanting to bring change, I grew up in a village where I drank water from a well and had no power I understand the struggles, and I stand here today on the backs of people who have helped me and by my own willing to never give up so sorry for long-winded answer.

Thank you again for taking the time to read it Krel :slight_smile:

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Thanks, appreciate this!

With this in mind, I would consider how you can make EZ24 even more nounish. How can you make it so you cant easily swap nouns out for BAYC for example?

If you’re able to do that, funding is much more within reach imo.

Hi Krel

Thanks for that, and thanks for the questions :slight_smile:

When you asked this question, some things did pop up as possible.

  1. we can redo our logo to include the name Nouns, such as EZ 24 Ramen, with a tag like nouns approved. This will then be displayed in oxford in the actual store. So there is a rebrand option, something we wouldn’t wish to change once we become popular.

  2. We could do a Noun wall. There are two options: I am happy to crave the name of every DAO owner into the very fabric of the building so everyone can see, or we can do a digital wall which shows off nouns as the DAO members with live auction tick down and so on. We can also extend our utility to Noun owners so they can eat free noodles at any of our stores.

  3. We are speaking with a Noodle supplier to try and see if we can confirm creating our noodle packets and have custom noodle packets in-store. We think Nounish Noodles would be a great and fun way to display Noun art on packets of noodles customers can enjoy and have them exclusive in every store.

thank you again

How about something like EZN⌐◨-◨DLES? I agree with Krel that it needs to be drastically more nounish to have a shot and you also need to have a more fleshed out plan in order to move forward. Not just a drawing of the potential store, but real financials. What is the brand, how is it nounish, and how will the DAO benefit? What are the hard costs? How will it be sustained? What is your experience in this area? What is the market? etc etc etc.

You are a good ways down the road, but this feels incomplete, especially because the concept is so new as well. We’re all here to help, so please keep working on it and honing it.

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Hi Andrew

I like that idea for a logo and would be happy to make that change along with any other ideas we put forward.

We have a pitch deck which is 22 slides long and goes into the business side in terms of costings and financials, what we expect to make in year one and costs etc. That is ready to show, and we are happy to discuss or make this available.

In terms of benefit to the DAO, it would be an investment. Our thoughts are either equity or royalty for a long-term benefit to the DAO. We want to build something together.

Also, as expressed, we can give access to our stores to any owners. As we open more stores, we can keep this utility built in.

No 3 is not bad but I would completely rethink what you’re doing —

Instead of “we’re doing a ramen shop and want to be funded by nounsdao”
Try “we want to make nouns grow by 10-100x — how can we make use of a 24h ramen idea to accomplish that?”

That’s generally how you create home-run proposals; by putting nouns first and thinking backwards to how you can apply your own unique expertise.

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Hi EZ Ramen. At FOODNOUNS we agree that more IRL nounish food proliferation is needed.

That said, asking for brick and mortar funding in the range that you are going for is going to require much more. Restaurants are notoriously risky and hard to create sustainable cash flow. More and very specific cost details, menu creation, and brand elements are going to be needed…here…publicly. Who is on the team? Do you have experience making money running restaurants?

Your concept is novel and cool. It is misleading though. There is no restaurant that will have 0 staff until robots can do everything, and that is not our current reality. Who cleans the tables after someone eats?
This is one of many questions to be answered?

Also, the current proposal as it reads now is 0% nounish. There may be a tag line? for 200k?..That is not well thought out. Has the concept been tested with a pop-up?

If you have sustainable funding already and this would be supplementary, it would be good to prove that here. It seems you need start up funding after the fact. That is not nounish. If the original idea was noun based and needed funding that is an entirely different conversation. You have begun your press releases prior to submitting here. That does not make sense.

NFT based restaurant concepts are very tricky and romantic in nature, untested and too early. The reality will look very different. Relying on a subscription or any type of gimick is not sustainable. We also love the idea of supporting free food and feeding people but understand that this is also not a profit center and will only decrease the ability to run without additional funding.

It is the responsibility of chefs and foodies in the Nouns ecosystem to make sure that these culinary roll outs are done correctly.

We would like to offer as many interviews as you would like on our FOODNOUNISH podcasts to drill down on details and help figure out a way to make ramen nounish! It is unclear how the DAO should interact in the current format.

Please keep going on your idea. We hope that you find a way to make ramen + nouns work great. Iteration is the secret sauce. Cheers, CHEFFO.

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Hi Foodnouns

Thank you for the comments, and also, Krel, I think we can re-look into this and come at it from the direction Krel says how it would boost the DAO. Of course, there is financial ways but also strong cultural and community ways as well.

Regarding the none staff - Yes, at some points, there may be someone to restock or clean, but then they are gone. The idea of a staff member hanging around is not part of it. We don’t feel it’s misleading if 95 per cent of the time you won’t see anyone unless there’s a problem or an issue.

We also will try and get customers into a habit of cleaning, which may be hard, but the only thing that will need throwing away is a paper bowl.

One of the co-founders has worked in the restaurant trade and street food scene, so they have some expertise regarding this. Although restaurants are hard to keep a cash flow, keep in mind we don’t need people to come to our place to eat it’s not dependent on having 50 covers a day, for example.

This is part of why we have gone with subscriptions ( for safety as well), but this keeps the cost lower. It was this option or charge customers per packet of noodles and having them in vending machines, which we feel doesn’t give you the feeling we are trying to create.

the concept of an unmanned ramen bar might be new here, but the concept already is in the works in South Korea, and most Japanese convenience stores have unmanned cook sections. there is already a business model and concept built around these ideas to make them work.

The difference is the culture in japan and south Korea. These are far more common, and an honour-based store is commonplace.

to bring this to the west, we have had to change the concept into what we are pushing forward with the idea of a subscription.

We would love to take up an offer to discuss this with someone and talk through the idea and how we can maybe come together. because the store has a few ways to generate money, it’s not just via subscriptions there are also our galleries, vending machines and support other NFT projects that can also aid with cash flow which have been planned out.

If the offer is there to have a discussion me or my business partner would be happy to sit down and chat as I think that might be the best way to discuss this.

Though we would give an update on our grant. We have been pushing and building up our presence.

Since the last time we spoke, we have got investment. We have now raised 70k and are still trying to secure 30k in funding.

We also now have a large offer to bring our services to a university in London for 50k students. This is a trial run. If successful, we could see our services in 6 more universities across the country. This trial is based on seeing our proof-of-concept store running, so we are still focused on this.

We have a location and are currently in the legal stuff with the landlord, but we are keen to secure 12 months of operation.

We have since done a podcast speaking about our press coverage and common questions raised.

We still believe there is a great chance to bring together our business and your belief in food and make a real social change. We are seeing more and more stories in the UK now where universities and students are struggling for money to find better food options.

We are set on an idea that mixes web three and web two and could make a huge impact.

We have also now done our custom packets test

There is a great chance of putting Food Noun branding on these packets, and we can even add the Noun glasses to the logo for this store giving it a real presence.

We will also discuss a revenue return from this store for the DAO, which means recurring funds back to the DAO to do other things.

We just thought we would give an update and let you know how the project is progressing. We still feel there is a fit here between us and we would love to find that.

Kind regards

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