FYR
Early Stage
Creator-owned live fire cooking brand, born from a deep passion for food and flavor
Overview
Raised: $408,638
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/21/2024
Close Date
10/28/2024
Min. Goal
$50,000
Max. Goal
$470,000
Min. Investment
$300
Security Type
Equity - Preferred
Series
Seed
SEC Filing Type
RegCF
Price Per Share
$0.88
Early Bird Valuation
$7,970,000
Pre-Money Valuation
$10,000,000
Rolling Commitments ($USD)
Status
Active
Reporting Date
04/30/2024
Days Remaining
180
% of Min. Goal
817%
% of Max. Goal
87%
Likelihood of Max
Avg. Daily Raise
$4,086
Momentum
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Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
FYR, with a valuation of $10 million, is raising funds on Wefunder. It is a live fire cooking brand that makes hot sauce and BBQ sauce. FYR sauces have been created by influential chefs, pitmasters, and foodies and come bursting with flavor and the right amount of heat. The business has strong pre-order results with minimal marketing and plans to launch new products, including grills, soon. Derek Wolf and Pete Taylor founded FYR in July 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $470,000. The campaign proceeds will be used for research and development, funding the provisional product pipeline, customer research, market testing, and working capital.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-93,922 |
$-14,499 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$35,333 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$126,580 |
$0 |
|
Short-Term Debt |
$0 |
$14,499 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$14,499 |
Financials as of: 01/21/2024
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