Mae's

Mae's

Restaurant

Restaurant

Overview

Raised this Round: Raised: $12,218

Total Commitments ($USD)

Platform

Honeycomb

Start Date

08/20/2024

Close Date

09/19/2024

Min. Goal
$25,000
Max. Goal
$30,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

11.50%

Term Length

3.0 years

Year Founded

2020

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

West Chester, Pennsylvania

Business Type

Life Style

Mae’s is raising funds on Honeycomb. It is a vibrant BYOB located in West Chester, Pennsylvania. Mae’s is focused on using locally sourced ingredients to create a memorable dining experience and features a variety of dishes that highlight the products of local farmers and artisans. The business has a loyal customer base and plans to acquire the Pennsylvania brewers license and add two additional locations on the same license. Josh Taggart founded Mae’s in February 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $30,000. The campaign proceeds will be used to purchase an ice machine, a kegerator, a beverage fridge, brewing equipment, glassware, smallwares, bar stools, and a bar sink, and fund working capital.

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$493,081

$533,178

COGS

$188,182

$216,758

Tax

$0

$0

 

 

Net Income

$44,712

$49,036

Summary Balance Sheet

FY 2023 FY 2022

Cash

$4,361

$1,787

Accounts Receivable

$0

$0

Total Assets

$14,739

$12,165

Short-Term Debt

$69,181

$51,811

Long-Term Debt

$57,538

$49,230

Total Liabilities

$126,719

$101,041

Financials as of: 08/20/2024
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Raise History

Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Mae's 09/19/2024 Honeycomb - $12,218 Debt Active RegCF

No prior online funding rounds.

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Mae’s on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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