Well, well, well. All the aging, hot-shot business folks love to dump on millennials for blowing their savings on avocado toast, and, yet, look at this. It’s extremely wealthy people and Shark Tank investors Barbara Corcoran and Mark Cuban throwing $400,000 into Avocaderia, an all-avocado restaurant based out of Brooklyn, in an episode that aired last night.
Corcoran and Cuban agreed to pony up the cash after tasting some of Avocaderia’s menu items and learning something millennials have known for a while: avocado toast is delicious. The investment translates to a 20-percent stake in the restaurant, which owners Francesco Brachetti, Alberto Gramini, and Alessandro Biggi opened last week. The trio now plans to expand the business with new locations in Los Angeles, San Diego, Miami, and Texas. Shark Tank investor Rohan Oza passed on the opportunity, sticking to his avocado-hating guns.
While Corcoran and Cuban have come around to millennials’ affinity for avocados, they still have knowledge to glean from the much-maligned generation. Considering their healthy bank accounts, neither mogul is likely to notice much of a lifestyle change from the return on their 20-percent investment. When a 20-something visits Avocaderia or nearly any other trendy restaurant and invests $10 in lunch, however, they get to enjoy 100 percent of that creamy, savory avocado toast. That sounds like a better deal.
To celebrate the Shark Tank windfall, Avocaderia is offering a 15 percent discount at its merch shop. Young fans of the restaurant might want to consider taking those savings and starting a fund for a future home down payment.
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