Frannie Franks Coffee Cakes
Bakery
Overview
Raised: $57,750
Total Commitments ($USD)
Platform
Honeycomb
Start Date
02/05/2024
Close Date
03/06/2024
Min. Goal
$55,000
Max. Goal
$110,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
13.00%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/30/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,991
# of Investors
40
Momentum
Funded
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Year Founded
2010
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Frannie Franks Coffee Cakes is raising funds on Honeycomb. It is a renowned and award-winning coffee cake company in Kansas City, Missouri. Frannie Franks Coffee Cakes makes delectable cakes using a recipe spanning three generations and offers over 147 flavors of cakes in regular, dairy-free, and gluten-free options. The business has a loyal customer base and reported a revenue of $268,780 and a net income of $160,670 in 2023. Jill McEnroe founded Frannie Franks Coffee Cakes in June 2010. The current crowdfunding campaign has a minimum target of $55,000 and a maximum target of $110,000. The campaign proceeds will be used for purchasing two additional ovens, two refrigerators, two bakery cases, custom packaging, branded items, and six production tables, the acquisition and construction of a second location, and hiring.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$268,780 |
$220,595 |
|
COGS |
$76,644 |
$64,801 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$160,670 |
$131,563 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$2,655 |
$2,398 |
|
Accounts Receivable |
$6,700 |
$3,279 |
|
Total Assets |
$173,750 |
$142,880 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 02/05/2024
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