Georgie’s Corner Cafe
Bakery
Overview
Raised: $94,868
Total Commitments ($USD)
Platform
Honeycomb
Start Date
09/21/2023
Close Date
11/05/2023
Min. Goal
$60,000
Max. Goal
$124,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
11.50%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/30/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$2,108
# of Investors
83
Momentum
Funded
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Year Founded
2005
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Georgie’s Corner Cafe is raising funds on Honeycomb. It is a bakery and cafe in Pittsburgh, Pennsylvania that serves locally-roasted coffee and food. Georgie’s Corner Cafe’s offerings include pastries, pies, cookies, and other breakfast and lunch dishes, along with responsibly-sourced coffee. The business opened in 2022 and booked $40,000 in sales in the first month and is currently nominated to the American Institute of Architects- Design Pittsburgh 2023 for the cafe. George Saxon founded Georgie’s Corner Cafe in September 2005. The current crowdfunding campaign has a minimum target of $60,000 and a maximum target of $124,000. The campaign proceeds will be used for refinancing kitchen equipment and coffee equipment.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$342,895 |
$0 |
|
COGS |
$259,151 |
$52 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-334,002 |
$-79,843 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$11,599 |
$11,599 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$372,488 |
$143,560 |
|
Short-Term Debt |
$22,481 |
$0 |
|
Long-Term Debt |
$725,024 |
$257,274 |
|
Total Liabilities |
$747,505 |
$257,274 |
Financials as of: 09/21/2023
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