Hit The Spot!

Hit The Spot!

Restaurant

Restaurant

Overview

Raised this Round: Raised: $0

Total Commitments ($USD)

Platform

Honeycomb

Start Date

05/19/2024

Close Date

07/05/2024

Min. Goal
$60,000
Max. Goal
$90,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

13.75%

Term Length

3.0 years

Year Founded

2016

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

Portland, Oregon

Business Type

Life Style

Hit the Spot! is raising funds on Honeycomb. It is a restaurant in Portland, Oregon, known for its high-quality classic American burgers. Hit the Spot! uses fresh ingredients sourced from local farms and creates delicious meals. The business serves lunch and dinner and has been nominated as one of the best burgers in Portland many times. Jeremy Sivers founded Hit the Spot! in November 2016. The current crowdfunding campaign has a minimum target of $60,000 and a maximum target of $90,000. The campaign proceeds will be used to purchase a La Marzocco espresso machine, a Taylor Shake machine, a Mahlkonig commercial grinder, a PUQpress grinder, a Fetco coffee brewer, and a Moffat convection oven, and to pay the contractor.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$413,889

$207,587

COGS

$130,585

$66,236

Tax

$0

$0

 

 

Net Income

$53,078

$12,180

Summary Balance Sheet

FY 2023 FY 2022

Cash

$13,500

$40,000

Accounts Receivable

$0

$0

Total Assets

$163,480

$126,500

Short-Term Debt

$103,654

$64,080

Long-Term Debt

$0

$0

Total Liabilities

$103,654

$64,080

Financials as of: 05/19/2024
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Hit the Spot! on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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