Bump 'n Grind

Bump 'n Grind

Closed: Jun. 2024

About this raise

Bump ’n Grind is raising funds on Honeycomb. It is a coffee shop in Silver Spring, Maryland, centered around coffee, music, and community. Bump ’n Grind curates an atmosphere that fosters genuine connections over quality coffee sourced and roasted ethically and sustainably. The business also has a record label and offers weekly music sessions to amplify the cultural connection of the communities. David Fogel founded Bump ’n Grind in February 2013. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $100,000. The campaign proceeds will be used to build Bump ’n Grind’s forever home.

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Investment Overview

Invested this round: $65,000

Deal Terms

Total Commitments

Platform
Honeycomb
Start Date
04/22/2024
Close Date
06/06/2024
Min. Goal
$50,000
Max Goal
$100,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

12.50%

Term Length

3.0 years

Company & Team

Company

Year Founded
2013
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Location
Silver Spring, Maryland
Business Type
Life Style
Company Website
Visit Website

Team

Employees
10
Prior Founder Exits?
No
Founder Name
David Fogel
Title
CEO

Financials

as of Fiscal Year 2023
 Revenue -11.6% YoY
$326,818
 Monthly Burn
$8,504
 Runway
24+ months
Gross Margin
69%

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$326,818

$369,567

COGS

$102,823

$119,080

Tax

$0

$0

 

 

Net Income

$-102,050

$-69,189

Summary Balance Sheet

FY 2023 FY 2022

Cash

$220,324

$109,559

Accounts Receivable

$0

$0

Total Assets

$662,419

$518,747

Short-Term Debt

$10,463

$10,432

Long-Term Debt

$887,884

$637,400

Total Liabilities

$898,347

$647,832

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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
06/06/2024 Honeycomb - $65,000 Debt Funded RegCF
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Bump ’n Grind on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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