Provision
Coffee Shop
Overview
Raised: $73,900
Total Commitments ($USD)
Platform
MainVest
Start Date
09/13/2021
Close Date
11/12/2021
Min. Goal
$10,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
Revenue Share
Series
Seed
SEC Filing Type
RegCF
Return Multiple
1.50X
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/29/2021
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,253
# of Investors
84
Momentum
Funded
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Year Founded
2015
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B/B2C
Margin
Low
Capital Intensity
High
Provision is raising funds on MainVest. It is a coffee and cocktail bar, coffee roaster, and eatery based in Phoenix, Arizona. The business sources, roasts, and hand packs its coffee and has both retail and wholesale operations. Provision believes in bringing the community together through good quality coffee, food, and drinks. Daniel Suh and Lawrence Jarvey founded Provision in February 2015. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $250,000. The campaign proceeds will be used to open a new location and purchase the furniture, fixtures, and equipment for the new location.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$9,823 |
$57,983 |
|
COGS |
$0 |
$9,752 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$8,571 |
$5,129 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$-1,786 |
$-1,474 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$2,670 |
$9,046 |
|
Short-Term Debt |
$0 |
$34,525 |
|
Long-Term Debt |
$42,518 |
$27,267 |
|
Total Liabilities |
$42,518 |
$61,792 |
Financials as of: 09/13/2021
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