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Charlotte, North Carolina, is one of the oldest cities in the country, and it’s bustling with history, beaming with pride, and teeming with culture. Businesses throughout the city are using these elements to grow and expand into multihyphenate businesses. Multihyphenate businesses are businesses that diversify revenue streams by expanding beyond their core offering with options like merchandise, meal kits, events, and more.
With 36% of retailers diversifying their revenue streams and 43% of restaurateurs planning to do so, multihyphenate businesses are on the rise — and some of the most unique ones are located in and around Charlotte. From cafes that double as vintage shops to restaurants with a karaoke space, a playground, and a dog park, here are a few of the top multihyphenate businesses in Charlotte that are changing the landscape of what a business can be.
The Mercantile
The Mercantile is a woman-owned general store, cafe, and wine bar nestled in the Downtown Rock Hill area of the Charlotte metro area in the historic Coca-Cola factory. As if its location wasn’t unique enough, it also features two murals by the legendary artist Shepard Fairey throughout the property. As a true one-stop-shop in the area, customers rely on The Mercantile for a cup of coffee, a gift for a loved one, a night out, local farm fresh food, and a wedding venue. “You can start with breakfast in our cafe, then shop the store and craft with us, and end at the patio with a glass of wine and tapas,” said owner Brittany Kelly about the customer journey. “We found a tremendous benefit in Square for Retail for our general store and Square for Restaurants for our cafe and wine bar areas,” she added.
This multihyphenate business also hosts several events throughout the course of the year to service customers in other ways. From painted wreath workshops to specialized markets like their Mother’s May Market, The Mercantile is committed to playing a role in every aspect of the life of the customer. “It’s a lifestyle brand that we’ve centered around community,” explained Kelly.
Seoul Food Meat Company
Seoul Food Meat Company is a restaurant, a bar, and a karaoke space with two locations across Charlotte. Their second location in Optimist Park features a splash zone, a playground, and a dog park, catering to an even wider range of customers. “There’s a place for everyone, whether you’re young, old, or a dog,” said co-owner Timothy Chun. Perhaps most importantly, Seoul Food Meat Company is for the foodie. Its prized menu, which features award-winning wings, infuses Korean flavors with American cuts of meats, combining Southern foods with unique flavors.
With family-style portions, this multihyphenate business is the perfect place for those looking to host big groups, celebrations, or a casual night out with the family. “It’s a place for everyone to ‘feed their Seoul,’” said Chun.
Orrman’s Cheese Shop
Orrman’s Cheese Shop is a full-service cheese shop that sells boards and kits, gift boxes, and wholesale items. It also offers catering services and hosts events and classes. Orrman’s Cheese Shop supplies several restaurants in the Charlotte area with cheese for their menus, which allows them to purchase higher volumes. In fact, the cheeses are so specialized that customers of neighboring restaurants will often stop by in search of a specific cheese that they had at another restaurant. “The way we source our product provides not only what the customer is looking for, but also includes items that are unexpected in order to spark curiosity,” said co-owner Rachel Klebaur. This unique sourcing helps the business carry out other one-of-a-kind experiences.
Orrman’s Cheese Shop operates with several different revenue streams for several reasons. “It helps to ensure that if one side of the business is particularly slow, another side is helping to round out sales. Cheese is the focus, but not only do we sell cheese by the wedge, we showcase the cheese in several different ways,” said Kleubar.
Orrman’s features a cheese bar run by staff who are certified by the American Cheese Society, where customers can purchase a grilled cheese sandwich or cheese board alongside other items at the shop. Orrman’s also features regular wine and cheese pairing events to help customers learn more about which wines to pair with specific types of cheese. “It provides another experience where we can share our knowledge with our guests,” said Klebaur. “They learn to trust that we know our business and become repeat customers.”
Archive
Archive is a cafe and vintage store that seeks to honor and preserve Black history and culture. In addition to the cafe and vintage items, Archive sells merch and hosts events. At their Open Collage event customers can create their own collages using African American magazines. “Archive serves as a community space for Charlotte, and there are so many intergenerational relationships started and built here,” said owner Cheryse Terry, who is also a well-known Black memorabilia archivist.
The items on the menu at Archive reflect the multiple generations that frequent it. From their crowd-pleasing “Foxy Brown Latte,” named to honor both the character played by Pam Grier and the rapper, to their iced fresher named “Wildflower,” after the song by R&B group New Birth, Archive serves as a real-time tribute to icons throughout time. “Archive is a place where everyone can come and find their people, see their people, and take a little piece of history home,” said Terry.
The ways in which businesses think about expansion are vast, and these businesses are leading the way. Being multihyphenate has become more and more common as Charlotte expands and grows at a rapid rate with restaurants and businesses opening up weekly. As competition increases, those that have multiple revenue streams have been able to separate themselves by not only having additional income, but also by building additional brand awareness through these other avenues.
With 80% of customers interested in trying a new offering from a business known for something else, this business model is poised for significant growth. To learn more about what’s in store for this business type, read the 2024 Square Future of Multihyphenate Businesses report.