Needfire Candle Co
Early Stage
Retail Shop
Analytics
Raised: $4,350
Aggregate Commitments $
Platform
Honeycomb
Start Date
05/25/2022
Close Date
07/11/2022
Min. Goal
$25,000
Max. Goal
$100,000
Min. Investment
$100
Security Type
Debt
Funding Type
RegCF
Series
Seed
Price Per Share
$0.00
Rolling Commitments $
Status
Active
Reporting Date
06/25/2022
Days Remaining
16
% of Min. Goal
17%
% of Max. Goal
4%
Likelihood of Max
Avg. Daily Raise
$140
Momentum
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Location
Portland, Maine
Industry
Consumer Products, Goods & Services
Tech Sector
Retailtech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
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: 05/25/2022
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