Neutral Ground
Relaunching a Favorite Chattanooga Restaurant
Overview
Raised: $147,700
Total Commitments ($USD)
Platform
Wefunder
Start Date
12/19/2023
Close Date
04/29/2024
Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment
$100
Security Type
Revenue Share
Series
Pre-Seed
SEC Filing Type
RegCF
Return Multiple
1.50X
Rev. Share %
5.00%
Rolling Commitments ($USD)
Status
Active
Reporting Date
04/27/2024
Days Remaining
1
% of Min. Goal
295%
% of Max. Goal
119%
Likelihood of Max
Avg. Daily Raise
$1,136
# of Investors
136
Momentum
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Year Founded
2020
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
Neutral Ground is raising funds on Wefunder. The business is relaunching a favorite Chattanooga restaurant and bringing Afro-Creole cuisine back to Chattanooga. Neutral Ground will be a place where tradition meets nuance, and each dish will be a tribute to the Afro-Creole culture. The restaurant is aimed to open in June 2024 and is expected to generate $900,000 in revenue in year one. Kenyatta Ashford founded Neutral Ground in April 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for hiring staff, building out the restaurant, purchasing equipment, and marketing.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$206,865 |
$231,112 |
|
COGS |
$107,964 |
$104,828 |
|
Tax |
$6,462 |
$0 |
| ||
| ||
|
Net Income |
$-21,170 |
$-4,203 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$460 |
$27,894 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$460 |
$27,894 |
|
Short-Term Debt |
$23,693 |
$7,298 |
|
Long-Term Debt |
$54,809 |
$26,500 |
|
Total Liabilities |
$78,502 |
$33,798 |
Financials as of: 12/19/2023
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