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By Richard Hall
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16 people pledged
NZ$346,000 minimum target
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Our Vision and Values
Talofa lava, Malo e lelei, Ni sa bula vinaka, Namaste, Kia orana, Taloha ni, Ia orana, Fakaalofa lahi atu, ‘Alii, Malo ni, Halo Olaketa, Mauri, Aloha mai e and warm Pacific Greetings.
We started our journey with the vision of creating an exciting brand that highlights the best of the Pacific through our restaurant Kai Pasifika.
Our goal is to build a sustainable business model around the values of sharing food with family and friends which is central to the way of life in the Pacific and to take that message to the world.
We have a vision of building a business that showcases the Pacific and provides pathways and training for young people to build careers in hospitality, where that training could take them around the world through our own group of restaurants, and eventually give them the confidence to start their own businesses.
Kai Pasifika’s guests have become part of our larger family and it’s been amazing to see what a brand can do in uniting diverse groups of people when one of its core values is inclusiveness.
Auckland, our home, is a great city in which to incubate the idea of Kai Pasifika, to build awareness of what Pacific is, given it has the largest Pacific population in the world right on its doorstep.
Our vision is to share the story of the Pacific using the restaurant as a vehicle. This in turn will stimulate trade and tourism for the whole region.
To effectively take that message to the world, we need to build a group of Kai Pasifika restaurants in urban international cities.
For that to happen, we need a pool of trained, engaged and talented Pacific youth who see hospitality as a viable career pathway for themselves, and for some of them, the precursor to owning their own business. We will nurture, support and grow a pool of incredible Pacific talent in a safe and sustainable environment under the greater Kai Pasifika umbrella and through their success, be the ambassadors for our region and the Kai Pasifika brand.
One way in which we will introduce Pacific culture to these urban centres will be through our Island nights. Island nights will be just like in the Islands – a combined dinner and entertainment evening where our guests experience first-hand music and dance from around the region.
Use of Funds
The Share Offer
We’re offering shares in KP Mt Eden Limited to raise a minimum of $346,000 and a maximum of $595,000 for up to 30% of the company. Shares are priced at $1 and the minimum investment amount is $250.
This offer consists of two share classes. The minimum holding of Ordinary Shares has been set at 50,000 shares. All share purchases less than 50,000 shares will be issued Investor Shares.
Further information on the rights and restrictions associated with each share class is set out in Kai Pasifika’s Constitution, which you should read before subscribing for any shares.
Investment: 250 – 49,999 shares
Rights: Limited Voting Rights
Dividends: Equal share in dividends and other distributions made
Rewards Packages: Package A and B applies
Investment: 50,000+ shares
Rights: Full Voting Rights on all shareholder decisions.
Dividends: Equal share in dividends and other distributions made
Rewards Packages: Package C applies
About our Team
We have a wonderfully experienced and insightful team of energetic people working together to guide Kai Pasifika from inception to future growth. Co-founders Kenina Court and Richard Hall have surrounded themselves with a depth of talent in order to make the Kai Pasifika brand as successful as possible.
Kai Pasifika was one of the first restaurant companies to adopt Living Wage in New Zealand which means we have built an internal culture of ongoing development and hiring the best person for the position, while ensuring they are paid a wage that allows them to live, not just survive and get by. We are very proud to be members of Living Wage in New Zealand.
Kenina Court | Co-Founder & Director
Being of proud Samoan heritage, Kenina is passionate about creating opportunities for people to grow and thrive. The opportunity to be involved with Kai Pasifika and create those opportunities in a Pacific environment was something that Kenina could not resist! Kenina is a Chartered Accountant with over 25 years in commercial and public practice and it's important to her that her work makes a difference to her clients, their families and their communities.
Richard Hall | Co-founder & Director
Originally from Auckland, Richard has spent thirty five years working overseas in the hospitality industry learning every aspect of the industry. The past fifteen years, he has been the driving force of creating and executing dynamic food and beverage concepts around the world. The Kai Pasifika brand is especially close to his heart as it tells the story of the wonderful food and the warmth of the people that the Pacific is so well known for in an urban setting. He is very excited about building Kai Pasifika so it is a sustainable business model in New Zealand and fulfilling its incredible export potential to cities across the globe.
Teraitua Cuthers | Head Chef
Teraitua, or ‘T’ as we affectionately call him, is originally from the Cook Islands, where cooking beautiful food has been a cornerstone of his family. Now 26 years old, he has been in the kitchen for over ten years. Having opened his own cafe in Rarotonga at the age of 18, T went on to complete his City & Guilds Cookery qualifications. Recently he participated and placed third in semi finals for the Global Chef Challenge in Guam. He has a deeply ingrained belief in promoting the flavours of the Pacific in his food and backs it up with the technical know how of delivering restaurant worthy dishes on the plate. T is extremely passionate about engaging youth to build careers in the restaurant industry and continues to develop himself into a stellar role model.
Lesza Pokoina | Restaurant Manager
Lesza grew up in the Cook Islands and has been working in the hospitality industry for the past ten years. Starting as a kitchen hand, she moved to the front of house clearing plates and glasses. She spent three years at Pacific Resorts and then six years at the famous Flame Tree Restaurant in Rarotonga where she learnt to multi skill in all aspects of front of house. She then honed her skills at Café Salsa where it was not uncommon to serve 200 people a day with Lesza behind the coffee machine.
Jo Fonua | Marketing
Born and raised in the South Pacific, Jo's culturally diverse heritage directly influences her drive and passion for all things Pacific. Jo is half Kiribati, half Kiwi, she was raised in Tonga, although has lived in The Solomon Islands, The Cook Islands, Fiji, Samoa and now calls Mangere (New Zealand) home. Jo's enthusiasm to showcase the beauty of Pacific cuisine through Kai Pasifika is infectious. Her expertise lies in event and project management, and she oversees marketing activities such as advertising, promotional work, establishing brand guidelines and developing creative marketing strategies.
What we've done so far
What we’ve achieved
Over the past 18 months, we have been fine-tuning our restaurant operations, finding out who we are, what our guests like and building our team. One of the great advantages of having an existing restaurant is the magnificent opportunity of getting invaluable real time feedback directly from our guests, which helps us to ensure we are on point in our aspiration to create a global restaurant group.
For more insight into what we've achieved, take a look at our Information Memorandum
Our Plans for the Future
Relocating the current restaurant
Our restaurants are, and will be, the face of the Kai Pasifika brand, a place for people to come and share a beautiful meal in an environment that is comfortable and welcoming.
To fulfil our vision, we need a central location that can support a full day operation, seven days a week. We have found this in a site with an existing café for sale – with an already established day trade that we can put the Kai Pasifika stamp on.
An obvious extension to the Kai Pasifika group is to leverage off the flavours we’re creating in the restaurant to delight our guests’ taste buds with our flavours of the Pacific.
Our in-house sauces lend themselves to being used with a variety of meats, vegetables, poultry and seafood.
This also gives us the opportunity to increase the reach of Kai Pasifika into other markets and collect valuable research data to inform where the next restaurant should be located.
Homeware and Clothing Lines
We have put together a range of mockups on everyday homeware products. We get exceptional feedback on our branding; people simply love it.
Like the food consumable products, these will be available at point of sale in the restaurants and online through our website, and be another way in which our guests can take home a piece of their Kai Pasifika experience.
Our People Culture
Our people are a vital part of the fabric of our success and our future. Our ethos is to build a simple and sustainable business model that creates a safe environment for the development of Pacific hospitality workers. In so doing, we'll transform the view of the hospitality industry into a valid career path that will provide amazing opportunities for our team to grow and prosper. We're already built a dynamic core team of leaders to nurture the business going forward.
Risks and Challenges
New Zealand Restaurants
Our forecast revenue is based on the figures of both Kai Pasifika and the existing business under contract to purchase. Both businesses are established so our revenue projections are reasonable assumptions based on actual trading figures.
Overseas expansion of restaurants
We will initially enter overseas markets where the directors have had previous operational experience unless the new partner in that country has extensive experience.
Product lines will be launched in small batches through The FOODBOWL until the online sales take traction. Products will be sold in the restaurant as an add on to the bill.
Loss of Key Staff
Our systems and processes have been developed in order for the operation to be run in the leanest possible way.
Through our incentive scheme, we have indicated our long term view with the development of our team.
Note from PledgeMe
The rise & rise of Pasifika food
05/12/2018 at 1:02 PM
"Surprise your customers AND do try this Auckland restaurant! I was blown away by Kai Pasifika restaurant on Mount Eden road Auckland. They have SO much right in their business, they’re a lesson to us all if you look deep enough. 5 great lessons:"
05/12/2018 at 10:52 AM
Kai Pasifika leads the way - More than money: How living wage is changing Kiwis' lives
05/12/2018 at 10:38 AM
|Maximum Shares Offered||595,000|
Explanation of valuation:
The Valuation of Kai Pasi ka was undertaken by the Company Directors with internal and external advice. We have considered how executing our Strategic plan and how the targeted fund raise would affect the turnover growth of the business and determine the long term vision of the Kai Pasi ka brand.
We feel that our current valuation is well-considered and re ects our understanding of and belief in the business.
The most common benchmarking undertaken for company valuations in crowdfunding scenarios is to use a revenue multiple in direct comparison to recent market transactions in the same or similar industries.
Whilst we have used more detailed analysis to determine a valuation, we have cross-checked it against the revenue multiple method. Our method equates to a multiple of 1.17 times 2020’s revenue, which we believe represents a fair value for the company given the expected growth.
|Prev Year||Current Year||Est. FY 2020||Est. FY 2021|
Company Name: KP Mt Eden LIMITED
Company Number: 6233288
|Kenina Court||Co-Founder & Director||https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/6233288/directors||✔|
|Richard Hall||Co-Founder & Director||https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/6233288/directors||✔|
2019-01-08 20:12:02 +1300
2019-01-03 07:59:41 +1300
"Looks like a great, community focused business"
2018-12-25 09:28:54 +1300
2018-12-18 20:47:17 +1300
2018-12-12 21:54:53 +1300
2018-12-12 19:22:29 +1300
2018-12-10 20:43:42 +1300
2018-12-09 16:04:45 +1300
2018-12-08 23:49:50 +1300
"Go for it team!"
2018-12-08 23:48:32 +1300
"Hi for it team!"
2018-12-05 17:46:19 +1300
"For the successful future of Kai Pasifika!"
2018-12-03 11:24:41 +1300
2018-11-30 09:33:30 +1300
"Very happy to support a Living Wage business like this and excited for this opportunity. Go hard! "
2018-11-29 23:01:04 +1300
2018-11-29 23:00:34 +1300
2018-11-29 23:00:10 +1300
This campaign has closed, but this company may choose to do more equity raises on PledgeMe in the future. If you're interested in investing in Kai Pasifika, you can sign up to be notified when a new equity campaign from this company is published.
Part ownership in a progressive, innovative, culturally significant business | Investor shares with limited voting rights | 10% shareholder discount at our restaurants and online shop | Shareholder Birthday Lunch for two people (conditions apply)
Part ownership in a progressive, innovative, culturally significant business | Investor shares with limited voting rights | 15% shareholder discount at our restaurants and online shop | Shareholder Birthday Dinner for four people (conditions apply)
Part ownership in a progressive, innovative, culturally significant business | Ordinary shares with full voting rights | 20% shareholder discount at our restaurant and online shop | Shareholder Banquet Dinner for 10 people (conditions apply)