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Maslon Client Marcus Jundt Featured in Minnesota Business Article on Investing in Williston's Restaurant Scene

July 10, 2013

The July 2013 issue of Minnesota Business magazine features Maslon client Marcus Jundt in an article titled, "The Networker: Joining the Boom." Written by theme-restaurant guru Steven Schussler of Schussler Creative Inc., Jundt is described as "the ultimate entrepreneur." Schussler notes that Jundt has built more than 20 successful businesses resulting in the creation of more than 10,000 jobs, both in the Twin Cities and around the U.S. He is one of the principal founders and board members of the Kona Grill, now serving as director, and previously was vice chairman and president of Jundt Associates, an investment advisory firm.

Schussler states that Jundt "has a knack for spotting a lucrative deal" and focuses the article primarily on Jundt's most recent endeavor—investing more than $10 million over the last two years in Williston, North Dakota. Jundt explains in the article that, with family roots in nearby Mandan/New Salem, North Dakota, he was familiar with the general area and had "heard rumblings a few years ago about the emergence of oil boom in Williston. So [he] headed up there to check out what was going on in the Bakken." He found that hotels were fully booked within 100 miles, and there were 3-hour long lines at the limited restaurants in the area with "lots of hungry people."

He immediately put together a group of investors, formed the Williston Holding Company (WHC), and purchased four previously-owned restaurant buildings (all of which needed partial or full remodeling). WHC quickly opened two restaurants with cross-trained staff to enable them to help out if one of the other restaurants are particularly busy.

Jundt notes, "This is an exciting time and a great experience. I travel back and forth from North Dakota to Minnesota and I love being part of both communities. My roots are in Minnesota and my closest advisors are here, such as [Maslon attorney] Doug Holod."

Schussler closes the article by asking Jundt what advice he would give to young entrepreneurs. Jundt responded, "There is no substitute for true passion. Whether you are starting off or you have years of experience, there will always be naysayers and people who try to crush your dreams. But if you have passion, a vision, a dream, and you believe in what you are doing, then listen to your heart and keep moving forward. Follow your dreams and don't take no for an answer."

Doug Holod, chair of Maslon's Governance Committee and partner in the Business & Securities Group, serves as outside corporate counsel for both Kona Grill, a publicly traded chain of sushi/grill restaurants based in Scottsdale, Arizona, and Schussler Creative Inc. He also helps entrepreneurs and small to mid-sized companies achieve their potential by maximizing opportunities while managing risk and minimizing expenses.

To read the online article in Minnesota Business magazine, go to The Networker: Joining the Boom.


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