Palm Springs Bottle Shop

Palm Springs Bottle Shop

Closed: Feb. 2024

About this raise

Palm Springs Bottle Shop is raising funds on SMBX. It is a specialty wine, beer, spirits, and food shop in Palm Springs, California. Palm Springs Bottle Shop specializes in selling brands and products owned by BIPOC, LGBTQ+, and women makers. The business has two locations where it has hosted events and partnered with organizations like the Palm Springs Art Museum, Palm Springs Pride, GED Magazine, Brothers of the Desert, and more. Christopher White, David Marks, Gillian Fitzgerald, and Sierra Mitchell founded Palm Springs Bottle Shop in March 2021. The current crowdfunding campaign has a minimum target of $20,000 and a maximum target of $60,000. The campaign proceeds will be used for marketing, publicity, advertising, and working capital.

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Investment Overview

Invested this round: $65,080

Deal Terms

Total Commitments

Platform
SMBX
Start Date
01/25/2024
Close Date
02/29/2024
Min. Goal
$20,000
Max Goal
$60,000
Min. Investment

$10

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

10.75%

Term Length

3.0 years

Company & Team

Company

Year Founded
2021
Industry
Consumer Products, Goods & Services
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
Low
Location
Palm Springs, California
Business Type
Life Style
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Christopher White
Title
Managing Member
Founder Name
David Marks
Title
Managing Member
Founder Name
Sierra Mitchell
Title
Owner
Founder Name
Gillian Fitzgerald
Title
Owner

Financials

as of Fiscal Year 2022
 Revenue +230% YoY
$233,549
 Monthly Burn
Profitable
 Cash on Hand
$42,341
Gross Margin
54%

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$233,549

$70,684

COGS

$107,000

$32,915

Tax

$0

$0

 

 

Net Income

$27,200

$-8,396

Summary Balance Sheet

FY 2022 FY 2021

Cash

$42,341

$8,279

Accounts Receivable

$0

$0

Total Assets

$85,063

$44,885

Short-Term Debt

$18,839

$14,252

Long-Term Debt

$0

$0

Total Liabilities

$18,839

$14,252

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
02/29/2024 SMBX - $65,080 Debt Funded RegCF
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Palm Springs Bottle Shop on SMBX 2024
Platform: SMBX
Security Type: Debt

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