Hit The Spot!
About this raise
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.
Investment Overview
Not Funded: $0
Deal Terms
Total Commitments
- Platform
- Honeycomb
- Start Date
- 05/20/2024
- Close Date
- 07/05/2024
$60,000
$90,000
$100
Debt
Quarterly
RegCF
13.75%
3.0 years
Company & Team
Company
- Year Founded
- 2016
- Industry
- Food, Beverage, & Restaurants
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- Low
Financials
- Revenue +99% YoY
-
$413,889
as of FY2023
- Monthly Burn
-
Profitable
as of FY2023
-
Cash on Hand
-
$13,500
as of FY2023
- Gross Margin
-
68%
as of FY2023
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $0
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 07/05/2024 | Honeycomb | - | $0 | Debt | Not Funded | RegCF |