This company is no longer in business. Investors can get details about any potential exits or failures here.

Needfire Candle Co

Needfire Candle Co

Retail Shop

Retail Shop

Overview

Raised this Round: Raised: $26,126

Total Commitments ($USD)

Platform

Honeycomb

Start Date

05/24/2022

Close Date

07/31/2022

Min. Goal
$25,000
Max. Goal
$100,000
Min. Investment

$100

Security Type

Debt

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

11.75%

Term Length

5.0 years

Year Founded

2020

Industry

Consumer Products, Goods & Services

Tech Sector

Retailtech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

Low

Location

Portland, Maine

Business Type

Life Style

Needfire Candle is raising funds on Honeycomb. It is a candle manufacturing and design brand that sells ethically produced and sustainably sourced candles. The business creates candles that are made using non-toxic materials and sells through its brick-and-mortar location, wholesale, and e-commerce. Needfire Candle plans to include more projects, including Glamour Magick kits, stearic wax candles, and a ceramic Christmas collection. Minta Carlson and Timothy Bielec founded Needfire Candle in July 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $100,000. The campaign proceeds will be used for inventory, building out new space, workshop upgrades, materials, marketing, holiday line materials, new projects, and working capital.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$75,839

$44,663

COGS

$2,032

$3,874

Tax

$0

$0

 

 

Net Income

$29,370

$1,138

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$44,222

$3,632

Accounts Receivable

$3,738

$3,618

Total Assets

$65,058

$15,616

Short-Term Debt

$3,229

$3,229

Long-Term Debt

$0

$0

Total Liabilities

$3,229

$3,229

Financials as of: 05/24/2022
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Needfire Candle on Honeycomb 2022
Platform: Honeycomb
Security Type: Debt

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