Bar Freda
Music Venue
Overview
Raised: $0
Total Commitments ($USD)
Platform
MainVest
Start Date
12/29/2022
Close Date
03/31/2023
Min. Goal
$45,000
Max. Goal
$80,000
Min. Investment
$100
Security Type
Revenue Share
Series
Pre-Seed
SEC Filing Type
RegCF
Return Multiple
1.70X
Rev. Share %
1.70%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
03/31/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
2018
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Bar Freda is raising funds on MainVest. It is a bar, music venue, and restaurant located in Ridgewood, New York. The entertainment venue brings emerging and regional talent and audiences together and builds a community through its welcoming vibes. The bar offers a highly-curated draft list along with highly affordable bottles and cans, while the music is booked 5-7 nights a week. Thomas Olsen founded Bar Freda in June 2018. The current crowdfunding campaign has a minimum target of $45,000 and a maximum target of $80,000. The campaign proceeds will be used for renovations, debt repayment, additional soundproofing and technical improvements, building additional storage, marketing, and external signage.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$146,520 |
$5,587 |
|
COGS |
$63,736 |
$2,502 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-79,570 |
$-11,708 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$0 |
$7,752 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$109,508 |
$136,673 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 12/29/2022
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