HUBB Kitchens (previously J. Johnson & Company)

HUBB Kitchens (previously J. Johnson & Company)

Early Stage

Democratizing food business incubation and growth.

Democratizing food business incubation and growth.

Overview

Raised this Round: Raised: $210,541

Total Commitments ($USD)

Platform

Vicinity

Start Date

10/03/2022

Close Date

10/12/2023

Min. Goal
$50,000
Max. Goal
$618,000
Min. Investment

$1,000

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.00

Pre-Money Valuation

$5,500,588

Year Founded

2019

Industry

Food, Beverage, & Restaurants

Tech Sector

Foodtech

Distribution Model

B2B

Margin

High

Capital Intensity

High

Location

Raleigh, North Carolina

Business Type

Growth

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

FY 2022 FY 2021

Revenue

$439,199

$360,475

COGS

$79,398

$16,707

Tax

$0

$0

 

 

Net Income

$76,923

$-41,250

Summary Balance Sheet

FY 2022 FY 2021

Cash

$41,660

$40,596

Accounts Receivable

$0

$0

Total Assets

$125,630

$75,839

Short-Term Debt

$0

$0

Long-Term Debt

$95,157

$100,776

Total Liabilities

$95,157

$100,776

Financials as of: 10/03/2022
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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) 02/21/2024 MainVest - $0 Revenue Share Not Funded RegCF
HUBB Kitchens (previously J. Johnson & Company) 10/11/2023 Vicinity $5,500,588 $210,541 Equity - Common Funded RegCF
J. Johnson & Company 08/16/2022 Localstake - $67,450 Revenue Share Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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HUBB Kitchens on Vicinity 2022
Platform: Vicinity
Security Type: Equity - Common
Valuation: $5,500,588
Price per Share: $1.00

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