701 Eateries
Restaurant
Overview
Raised: $372,700
Total Commitments ($USD)
Platform
MainVest
Start Date
02/28/2021
Close Date
08/19/2021
Min. Goal
$250,000
Max. Goal
$1,000,000
Min. Investment
$100
Security Type
Revenue Share
Series
Pre-Seed
SEC Filing Type
RegCF
Return Multiple
1.50X
Rolling Commitments ($USD)
Status
Funded
Reporting Date
08/30/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,180
# of Investors
142
Momentum
Funded
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Year Founded
2018
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
701 Eateries, an upcoming restaurant in Fargo, ND, is raising funds on MainVest. The business works as different restaurant concepts, including a cozy Nordic kitchen, a cabin, and a private event space. The new eatery is opening up in a historic building, with an open kitchen serving breakfast, lunch, and dinner. Shelby Terstriep founded 701 Eateries in 2018. The proceeds of the current raise, with a minimum target of $250,000 and a maximum target of $1,000,000, will be used for space buildout and operating capital. 701 Eateries is located at an excellent location and is expected to open in the spring of 2021.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$0 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$0 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$0 |
$0 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 02/28/2021
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