Parts & Labor
Restaurant
Overview
Raised: $27,000
Total Commitments ($USD)
Platform
Honeycomb
Start Date
02/05/2024
Close Date
03/06/2024
Min. Goal
$25,000
Max. Goal
$27,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
11.50%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/30/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$931
# of Investors
32
Momentum
Funded
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Year Founded
2018
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
Low
Parts & Labor is raising funds on Honeycomb. It is a barbecue business in Cincinnati, Ohio, that offers wholesale and catering services. Parts & Labor uses a range of fresh ingredients and bold seasonings, and heat and smoke from hardwood fire to make flavorful barbecued dishes. The business has now partnered with an award-winning brewery, Urban Artifact, to bring its renegade barbecue to the brewery. Jeffrey Miller founded Parts & Labor in September 2018. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $27,000. The campaign proceeds will be used for exterior and interior branding at the brewery.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$217,824 |
$183,726 |
|
COGS |
$60,748 |
$80,688 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$24,933 |
$-11,306 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$14,321 |
$21,797 |
|
Accounts Receivable |
$23,838 |
$0 |
|
Total Assets |
$73,652 |
$21,594 |
|
Short-Term Debt |
$8,954 |
$11,206 |
|
Long-Term Debt |
$118,149 |
$54,203 |
|
Total Liabilities |
$127,103 |
$65,409 |
Financials as of: 02/05/2024
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