3 Rivers Outdoor Co

3 Rivers Outdoor Co

Closed: Oct. 2023

About this raise

3 Rivers Outdoor Co is raising funds on Honeycomb. The company is a prominent outdoor gear business based in Pittsburgh, specializing in providing new and used outdoor gear to enthusiasts. 3 Rivers Outdoor Co offers a wide range of products for various activities such as camping, hiking, fishing, kayaking, and more, with the goal of being a community-centered resource that connects people with their love for the outdoors. They take pride in offering high-quality gear and exceptional customer service. They have been serving the Pittsburgh outdoor community for five years and were recognized as the 'Clubhouse' for building community through Outside Magazine in 2022. Christine Iksic founded 3 Rivers Outdoor Co in 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $100,000. The campaign proceeds will be used for strategic investments to improve the business: 70% will be allocated to debt refinancing, 25% to digital marketing, and the remaining 5% will be invested in community programming.

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Investment Overview

Invested this round: $100,000

Deal Terms

Total Commitments

Platform
Honeycomb
Start Date
09/07/2023
Close Date
10/23/2023
Min. Goal
$50,000
Max Goal
$100,000
Min. Investment

$250

Security Type

Debt

Payment Schedule

Quarterly

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

13.75%

Term Length

5.0 years

Company & Team

Company

Year Founded
2016
Industry
Consumer Products, Goods & Services
Tech Sector
Retailtech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Location
Pittsburgh, Pennsylvania
Business Type
Growth
Company Website
Visit Website

Team

Employees
10
Prior Founder Exits?
No
Founder Name
Christine Iksic
Title
Co-Owner
Founder Name
Chris Kaminski
Title
General Manager and Director of Operations

Financials

 Revenue +9% YoY
$769,839
as of FY2022
 Monthly Burn
$5,313
as of FY2022
 Cash on Hand
$35,097
as of FY2022
 Gross Margin
48%
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$769,839

$703,392

COGS

$402,416

$387,491

Tax

$0

$0

 

 

Net Income

$-63,761

$39,124

Summary Balance Sheet

FY 2022 FY 2021

Cash

$35,097

$53,969

Accounts Receivable

$0

$0

Total Assets

$332,293

$313,959

Short-Term Debt

$190,028

$197,994

Long-Term Debt

$59,900

$0

Total Liabilities

$249,928

$197,994

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
10/23/2023 Honeycomb - $100,000 Debt Funded RegCF
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3 Rivers Outdoor Co on Honeycomb 2023
Platform: Honeycomb
Security Type: Debt

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