Should we acquire a candidate store and rebrand it (Letter of Intent stage)?

The Situation In the last few months, our organizing advisors have worked very hard to find us an existing national franchise for us to acquire, and has underwent length negotiations and meetings. It has thus far been challenging to find an existing franchise as the brand's corporate has many restrictions that makes acquisition exceedingly complex and difficult. We tried many different structures but the hesitation is too much to overcome for the many non-crypto savvy parties in the process. Thus we have pivoted to a new opportunity that has come by, which may serve as a proof of concept for DAO governance of quick service restaurants to more established brands in the future.

The Opportunity Specifically, a very popular NFT collection, which has been often cited as a blue chip and has mainstream advisors on the team, has offered to give us full support with possible partnership implications if we were to brand a store with this NFT. Furthermore, any commercial revenue restrictions from the NFT license would be removed. This would potentially allow us to own the store directly, explore and set our own policies, increase community engagement through creative endeavors, and possibly start our own franchise. Some drawbacks or risks to consider would be increased work, no existing franchise playbook to follow, and possible disorganization.

The Store We have identified an original boba/frozen yogurt store in New York City. It is an absentee store (no daily owner operation needed) with profitable revenue. The financial and store info, as well as the NFT, are posted in our members section prospect page at https://app.fries.fund/prospects, as well as in the gated #prospect-data channel in our Discord (https://discord.gg/friesdao). DAO discussion is also ongoing in the gated #prospect-talk channel. You need to be holding at least 5000 $FRIES to review the confidential information and partake in the discussion.

The Current Question Should we move forward with a Letter of Intent (LOI) for acquisition? This document signifies that we are serious about making an offer and would bring us into the detailed due diligence and negotiation stage. If there are no red flags or dealbreakers to our DAO concerns, we would be essentially obligated to complete the acquisition. Another governance vote may or may not be called depending on any newly learned information or circumstances during the due diligence process, but DAO members should consider this vote to be binding for a purchase. The estimated spend for this acquisition would be $165k acquisition + $100k ($265k total) development dedicated to this store.

Option A: Yes, move forward with LOI Option B: No, reject this proposal

IMPORTANT: BECAUSE ALL GATED INFORMATION IS CONFIDENTIAL AND UNDER NON-DISCLOSURE AGREEMENT, PROPOSAL DISCUSSIONS MUST OCCUR IN THE GATED #prospect-talk CHANNEL AND NOT THE PUBLIC #proposal-discussion CHANNEL!

Note: Quorum has been lowered to 15M $FRIES after factoring treasury refunds (as per the DAO's 15% of circulating policy)