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Plum Island Grill

Plum Island Grill

NEW AMERICAN RESTAURANT IN NEWBURY, MA

NEW AMERICAN RESTAURANT IN NEWBURY, MA

Overview

Raised this Round: Raised: $0

Total Commitments ($USD)

Platform

MainVest

Start Date

02/12/2020

Close Date

04/16/2020

Min. Goal
$75,000
Max. Goal
$107,000
Min. Investment

$100

Security Type

Revenue Share

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Return Multiple

1.30X

Year Founded

1998

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

Newburyport, Massachusetts

Business Type

Life Style

Plum Island Grille, a new American restaurant in Newbury, MA, is raising funds on MainVest. The eclectic menu of the restaurant features fresh seafood, small plates, farm-raised meats, and gluten-free and vegetarian entrees. The food at Plum Island Grille is created using local, fresh, and simple ingredients. Plum Island Grille was founded by Chef Francis Broadbery in 2003. The restaurant plans to raise a minimum of $75,000 and a maximum of $107,000, and the funds will be used for financial restructuring. Plum Island Grille already has an average monthly revenue of $120,000, an average ticket size of $40 per person, and a profit margin of 8%. It also has a proven demand with a loyal customer base for the past 20 years.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$1,400,000

$1,445,000

COGS

$30,000

$677,876

Tax

$0

$0

 

 

Net Income

$40,000

$782,146

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$20,000

$14,706

Accounts Receivable

$30,000

$0

Total Assets

$600,000

$566,841

Short-Term Debt

$270,000

$260,000

Long-Term Debt

$0

$0

Total Liabilities

$270,000

$260,000

Financials as of: 02/12/2020
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Plum Island Grill on MainVest
Platform: MainVest
Security Type: Revenue Share

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