Big-city food and drink spots are popping up across Charlotte — Maman, PopUp Bagels and soon La La Land Kind Café — and their customers are queuing up in lines as viral as their products.

• What do these buzzy brands have in common? They're backed by deep-pocketed investors cashing in on Charlotte's demographics.

Why it matters: Charlotte's population boom has made it a preferred market for investor-backed businesses, which can afford to expand rapidly and splurge on aesthetics.

Case in point: Maman, the New York-based coffee shop backed by private equity firm TriSpan, has opened three Charlotte locations in under three months, all offering atmospheres that feel less chain-like than a Starbucks or other franchises Charlotte's become used to.

• The shop feels like a quaint French cafe with mismatched floral china and greenery draping from the ceilings. For weeks, customers have wrapped around the door, patiently waiting their turn to order a honeycomb latte.
• "These companies are selling a lifestyle and an experience in addition to just coffee, pastries or bagels," says Katerina Panttser, a Queens University economics professor.

Then there's PopUp Bagels. Famous for its rip-and-dip bagels, PopUp sold 15,000 bagels its opening weekend in Ballantyne, Tiny Money wrote. It has at least 10 locations planned across North Carolina.

• The bagel chain's majority owner is Stripes, a firm whose portfolio includes investments in Erewhon and OpenAI.

The big picture: Private equity poured $94.5 billion into bars and restaurants nationally between 2014 and 2024.

• The firms find concepts — occasionally, mom-and-pops — that have built strong followings, particularly on social media.
• The investors provide operational support, data analytics to pinpoint prime real estate, and the marketing muscle to draw those long lines.
• All this makes it easier to replicate concepts across multiple cities.
• "Charlotte becomes an amazing market for this," Panttser says.

Why? The city's population is booming (up 20,731 people in a year), and the median income level is rising (now at $82,068).

• Plus, young professionals are streaming into the city from other, larger metros. Many have the disposable income to spend $14 for three bagels and a tub of schmear.

Story continues below

Garrett Tichy, co-founder of Seemingly Overzealous Ice Cream, says private equity-backed businesses are playing in a "different ball game."

• "[Jeni's is] making small tweaks to their scoop size and probably increasing their profit margin exponentially," he says.

Tichy's Plaza Midwood shop is just steps away from newly opened Van Leeuwen Ice Cream, which has major investments from ... you guessed it, private equity.

• He says he and other newer business owners have to be "relentless" to exist with the outside brands and work their way up to becoming Charlotte staples. He's investing in his shop's experience, with colorfully painted walls that stand out, as customers seem to appreciate the details in places like Maman.
• "Some things are out of my control," Tichy says. "They have buying power. They have marketing power. They'll call Ed Sheeran, and he'll show up and scoop a scoop anytime."

Yes, but: Tichy says he can stay committed to his product quality and serving a family of four for under $30 — not to compete, but because he believes that's how he'll succeed in his division.

Share this story

🚗 Waymo, which is preparing to launch its robotaxi service in Charlotte, is involved in 68% fewer crashes than human drivers, a new study finds. (Axios)

• And in other Waymo news, the robotaxis have racked up $9,325 in parking tickets in Austin, Texas, since the company came to town in 2024. (WSJ)

🍺 NoDa Brewing's original North Davidson Street taproom has sold to an India-based civil engineering firm for $2.1 million. The firm, Rebar Design & Detail, has not revealed any plans for the site. (CBJ)

🏡 The New York Times is writing about how Charlotte-based Ascent Housing is preserving affordable homes by offering investors modest returns in exchange for setting rents low.

🏗️ Charlotte developer Crescent Communities is laying off 15% of its workforce following slow development investment. (CBJ)

If you're on the hunt for a new job, here are 5 to get you started.

• Marketing and Audience Engagement Manager at Caroline Calouche & Co.
• Director of Development at Rebuilding Together of Greater Charlotte.
• Sales Associate at JT Posh.
• Sales Associate (Part-time) at Mecklenburg County Alcoholic Beverage Control Board.
• Economic Development Manager at Town of Cornelius.

Want more opportunities? Check out all openings on our Job Board.

Hiring? Post a job.

More than half of voters surveyed disapprove of Charlotte City Council right now, according to a poll commissioned by CLT Public Relations.

Why it matters: The results came from a small sample of people who were polled about Charlotte's traffic and the I-77 widening, which council is currently debating.

• The respondents seemed familiar with the issue, with 74.7% stating they are aware of Charlotte City Council's May vote to "reject the state's plan to add additional traffic lanes" on I-77 South.
• 25.3% of respondents were unaware.

Read other results