Mike D's BBQ

[Closed for Investment] Mike D’s BBQ is raising funds on MainVest. The business makes BBQ sauces and rubs and sells them in all 50 states and 12 countries. The sauces and rubs of Mike D’s BBQ have won several awards and cater to a lot of BBQ events. Mike D’s BBQ now plans to open its own BBQ restaurant in East Durham, North Carolina, with an adjacent seating area and retail store. Michael De Los Santos founded Mike D’s BBQ in January 2014. The current crowdfunding campaign has a minimum target of $40,000 and a maximum target of $75,000. The campaign proceeds will be used for the buildout of the restaurant and retail store.

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Investment Overview

Raised this Round: Raised: $42,700

Deal Terms

Total Commitments ($USD)

Platform
MainVest
Start Date
06/21/2023
Close Date
08/04/2023
Min. Goal
$40,000
Max. Goal
$75,000
Min. Investment

$100

Security Type

Revenue Share

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Return Multiple

1.50X

Rev. Share %

1.45%

Company & Team

Company

Year Founded
2014
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Location
DURHAM, North Carolina
Business Type
Life Style
Company Website
Visit Website

Team

Employees
1
Prior Founder Exits?
No
Founder Name
Michael De Los Santos

Financials

as of Fiscal Year 2022
 Revenue -8.9% YoY
$128,468
 Monthly Burn
$6,394
 Runway
0 months
Gross Margin
58%

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$128,468

$141,097

COGS

$53,657

$29,274

Tax

$0

$0

 

 

Net Income

$-76,732

$-60,902

Summary Balance Sheet

FY 2022 FY 2021

Cash

$0

$0

Accounts Receivable

$0

$0

Total Assets

$0

$0

Short-Term Debt

$0

$0

Long-Term Debt

$0

$0

Total Liabilities

$0

$0

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Offering Name Close Date Platform Valuation Total Raised Security Type Status Reg Type
Mike D’s BBQ 05/17/2024 MainVest - $0 Revenue Share Not Funded RegCF
Mike D's BBQ 08/04/2023 MainVest - $42,700 Revenue Share Funded RegCF
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Growth Charts

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.

Employee History

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Mike D’s BBQ on MainVest 2023
Platform: MainVest
Security Type: Revenue Share

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