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Hey Jane, thanks for the questions, all very valid thb. Let me do my best to answer.
First off, I just want to get some facts straight for any new voters who may not have been around for the full Nouns Deli story.
Prop 254 ($202k) was for transforming my previous business (Stans Deli) into a Nounish space - a rebrand, a fit-out.
Prop 557 ($272.5k) was about activating the DAO’s ethos ‘outside’ of the current physical space, showcasing the core pillars (proliferation, public good, CC0). Of that, $30k repaid a personal loan I fronted to reopen the Deli after council delays killed our momentum.
So, the physical location - We are at $232k total from the DAO. The DAO didn’t buy the business - I loaned it for this experiment. If I’d pitched a buyout or shareholder deal, it’d cost way more - Prop 450 (Nouns Coffee) an example of this. Loaning it was our way of doing our part to drive the web3/ Nouns forward.
Profit Share - I didn’t pitch scenario for a few reasons. Hospitality’s not what it used to be (especially without alcohol). We sell coffee and sandwiches - margins are slim and shrinking with costs like ingredients, wages, and rent outpacing what customers are willing to pay. There’s not much left on the bone. Then worst case, if the Deli flops and liquidates, would the DAO owe its share of the debt when members didn’t contribute to the running of it? I know on paper this sounds great but it doesn’t add up for me. Higher risk for the DAO, for little return when there doesn’t need to be - proliferation was the aim of this experiment, not profit share.
Profitable - The Deli’s profitable, but we’re not rolling in cash - it swings between breakeven and green months, for reasons explained above. For us, it’s more of a passion project. Profitability would increase if it were owner-operated, but that’s not how we run it. It’s just one of several venues in our group.
Relocation - The budget I presented isn’t the full relocation cost. It’s much like our first proposal. Our group covering the rest - we’re moving into an empty space needing all commercial utilities installed and completely new kitchen. Trades can’t get full access yet, so we can only guess a final figure, but we’re estimating over $100k to be safe. This is a partnership, both sides chip in.
Future - If the DAO votes not to keep the partnership going and move with the business, we’ll finish any leftover tasks from past proposals and close Nouns Deli by year-end - unless someone steps up to take it over and carry the torch.
I hope this helps answer your questions, any more please ask.
87Bones ⌐◨-◨
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> Nouns DAO has provided nearly $500,000 USDC to fund the Nouns Deli project, with the initial proposal in 2023 stating that the business was already profitable and would be a self-sustaining permanent Nouns IRL food service store after a one-time investment.
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> I have some questions here:
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> 1. Is Nouns Deli Profitable? The 2023 proposal stated that this was an already profitable business and that Nouns DAO was simply funding its transformation into a Nounish space.
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> 2. If Nouns Deli is profitable, why can’t it fund its own move?
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> 3. If DAO funds expansion or relocation, should it receive a revenue share?
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> 4. If DAO doesn't fund this relocation, will the store stay as it is? Or the cooperation between Nouns and Deli ends here. Since the original prop has 3 ’permanent‘ in the text.
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> I appreciate any clarity on these questions so the community can make an informed decision.
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