Bump 'n Grind

Bump 'n Grind

Coffee Shop

Coffee Shop

Overview

Raised to Date: Raised: $33,551

Total Commitments ($USD)

Platform

Honeycomb

Start Date

04/21/2024

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

Rolling Commitments ($USD)

Status

Active

Reporting Date

05/17/2024

Days Remaining

19

% of Min. Goal

67%

% of Max. Goal

34%

Likelihood of Max
unlikely
Avg. Daily Raise

$1,290

# of Investors

36

Momentum
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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

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.

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

Financials as of: 04/21/2024
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Bump ’n Grind on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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