Redcrest Fried Chicken
Restaurants
Overview
Raised: $54,350
Total Commitments ($USD)
Platform
Honeycomb
Start Date
04/25/2023
Close Date
06/09/2023
Min. Goal
$50,000
Max. Goal
$90,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
13.25%
Term Length
5.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
06/29/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,235
# of Investors
31
Momentum
Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Redcrest Fried Chicken is raising funds on Honeycomb. It is a well-known fried chicken brand that operates as a quick-service restaurant in South Philadelphia. The business operates as a pop-up for takeout and delivery from Redcrest Kitchen, a full-service restaurant. Redcrest Fried Chicken is led by an experienced team and has received three write-ups in the Philadelphia Inquirer. Adam Volk founded Redcrest Fried Chicken in March 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $90,000. The campaign proceeds will be used for lease acquisition, general construction, opening inventory, and operating capital.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$294,586 |
$884,230 |
|
COGS |
$102,063 |
$279,137 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-127,903 |
$91,810 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$0 |
$3,396 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$382,349 |
$369,045 |
|
Short-Term Debt |
$19,117 |
$66,917 |
|
Long-Term Debt |
$350,000 |
$150,000 |
|
Total Liabilities |
$369,117 |
$216,917 |
Financials as of: 04/25/2023
Create a free account today to gain access to KingsCrowd analytics.
Upgrade to gain access
Pay Monthly
Annually (Save 17%)
-
$25 /month
billed annually - Free portfolio tracking, data-driven ratings, AI analysis and reports
- Plan Includes:
- Everything in Free, plus
- Company specific
KingsCrowd ratings and analyst reports
- Deal explorer and side-by-side comparison
- Startup exit and failure tracking
- Startup market filters and historical industry data
- Advanced company search ( with ratings)
- Get Edge Annual
Edge
Already a member? Log in here.
Ratings 
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.