braidbabes

Early Stage

Hair braiding startup making 70K/month

Analytics

Raised to Date: Raised: $141,104

Aggregate Commitments $

Platform

Wefunder

Start Date

09/12/2022

Close Date

04/30/2023

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Convertible Note

Funding Type

RegCF

Series

Seed

Valuation Cap

$7,200,000

Discount Rate

20%

Rolling Commitments $

Status

Active

Reporting Date

10/02/2022

Days Remaining

210

% of Min. Goal

282%

% of Max. Goal

13%

Likelihood of Max
likely
Avg. Daily Raise

$7,055

# of Investors

127

Momentum
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Location

Buffalo, New York

Industry

Beauty & Personal Care

Tech Sector

MarketplaceTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

braidbabes, with a valuation of $7.2 million, is raising funds on Wefunder. It is a hair braiding business with a team of mobile braiders in Buffalo and Nashville. The business provides on-demand, on-location, and high-quality braids and has a loyal customer base. braidbabes has tripled its revenue in 2020 and 2021 and expects to reach $1.5 million in revenue in 2022. The business has 40 mobile braiders on the team and has booked 8,000 appointments to date. Emmily Bowman and Tori Everett founded braidbabes in May 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1.07 million. The campaign proceeds will be used for marketing, purchasing more braiding kits, offering free appointments to individuals, and launching in new cities.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$586,675

$159,666

COGS

$325,102

$81,152

Tax

$0

$0

 

 

Net Income

$-407,800

$17,433

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$48,399

$11,156

Accounts Receivable

$0

$0

Total Assets

$116,892

$11,308

Short-Term Debt

$20,923

$6,652

Long-Term Debt

$521,458

$10,213

Total Liabilities

$542,381

$16,865

Financials as of: 09/12/2022
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braidbabes on Wefunder 2022
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Platform: Wefunder
Security Type: Convertible Note
Valuation: $7,200,000

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