Bar Freda

Bar Freda

Closed: Mar. 2023

About this raise

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.

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Investment Overview

Not Funded: $0

Deal Terms

Total Commitments

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

SEC Filing Type

RegCF    Open SEC Filing

Return Multiple

1.70X

Rev. Share %

1.70%

Company & Team

Company

Year Founded
2018
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Location
Brooklyn, New York
Business Type
Life Style
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Lindsay Sturm
Title
Owner

Funding data not publicly available

Financials

 Revenue
$146,520
as of FY2021
 Monthly Burn
$6,631
as of FY2021
 Runway
0 months
as of FY2021
 Gross Margin
57%
as of FY2021

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

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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
03/31/2023 MainVest - $0 Revenue Share Not Funded RegCF
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Add to portfolio
Bar Freda on MainVest 2022
Platform: MainVest
Security Type: Revenue Share

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