Bump 'n Grind
Coffee Shop
Overview
Raised: $27,000
Total Commitments ($USD)
Platform
Honeycomb
Start Date
04/21/2024
Close Date
06/06/2024
Min. Goal
$50,000
Max. Goal
$100,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
12.50%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Active
Reporting Date
05/02/2024
Days Remaining
34
% of Min. Goal
54%
% of Max. Goal
27%
Likelihood of Max
Avg. Daily Raise
$2,455
# of Investors
15
Momentum
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Year Founded
2013
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
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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