HUBB Kitchens (previously J. Johnson & Company)
Democratizing food business incubation and growth.
Overview
Raised: $153,100
Total Commitments ($USD)
Platform
Vicinity
Start Date
10/04/2022
Close Date
03/31/2023
Min. Goal
$50,000
Max. Goal
$467,550
Min. Investment
$1,000
Security Type
Equity - Common
Series
Seed
Funding Type
RegCF
Price Per Share
$1.00
Pre-Money Valuation
$5,500,588
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/03/2023
Days Remaining
56
% of Min. Goal
306%
% of Max. Goal
33%
Likelihood of Max
Avg. Daily Raise
$1,255
Momentum
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Location
Raleigh, North Carolina
Industry
Food, Beverage, & Restaurants
Tech Sector
Foodtech
Distribution Model
B2B
Margin
High
Capital Intensity
High
HUBB Kitchens is raising funds on Vicinity. The food business incubator provides ghost kitchens and food incubator spaces for food entrepreneurs. The company supports the underserved in starting their business through affordable solutions in terms of space, time, and expense. HUBB Kitchens’ first location was profitable within three months and grew 12% month-over-month from December 2020 to April 2021. The business has collected 700 membership applications and projects five locations by the end of 2022. Jason T Johnson founded HUBB Kitchens in March 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $467,550. The campaign proceeds will be used for equipment purchases, Dulles airport design, airport advisory, and property acquisition.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$320,818 |
$7,888 |
|
COGS |
$262 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-22,867 |
$-38,458 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$62,438 |
$4,853 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$96,243 |
$20,015 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$105,197 |
$0 |
|
Total Liabilities |
$105,197 |
$0 |
Financials as of: 10/04/2022
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| HUBB Kitchens (previously J. Johnson & Company) | 03/31/2023 | Vicinity | $5,500,588 | $153,100 | Equity - Common | Active | RegCF |
| J. Johnson & Company | 08/17/2022 | Localstake | - | $67,450 | Revenue Share | Funded | RegCF |
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