Poppy
Restaurants And Bars
Overview
Raised: $75,000
Total Commitments ($USD)
Platform
SMBX
Start Date
12/07/2023
Close Date
02/08/2024
Min. Goal
$20,000
Max. Goal
$75,000
Min. Investment
$10
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
10.25%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
02/28/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,210
Momentum
Funded
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Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Poppy is raising funds on SMBX. It is a neighborhood restaurant in San Francisco, California, known for its well-curated menu of delicious food and warm service. Poppy serves an all-day menu of California-inspired American breakfast classics and lunch options. The restaurant has a sophisticated and comfortable atmosphere and is well-known for its aesthetic and nourishing menu, and knowledgeable staff. Jessica Sullivan and Laurel Robinson founded Poppy in March 2021. The current crowdfunding campaign has a minimum target of $20,000 and a maximum target of $75,000. The campaign proceeds will be used for working capital, equipment, and inventory for the new location.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$0 |
$18,064 |
|
COGS |
$0 |
$5,262 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-115,478 |
$-25,462 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$370,025 |
$91,639 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$486,263 |
$128,160 |
|
Short-Term Debt |
$5,851 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$5,851 |
$0 |
Financials as of: 12/07/2023
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