Redcrest Fried Chicken
Restaurants
Overview
Raised: $20,000
Total Commitments ($USD)
Platform
Honeycomb
Start Date
04/26/2023
Close Date
06/09/2023
Min. Goal
$50,000
Max. Goal
$90,000
Min. Investment
$100
Security Type
Debt
SEC Filing Type
RegCF
Interest Rate
13.25%
Rolling Commitments ($USD)
Status
Active
Reporting Date
06/03/2023
Days Remaining
6
% of Min. Goal
40%
% of Max. Goal
22%
Likelihood of Max
Avg. Daily Raise
$526
# of Investors
16
Momentum
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Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Location
PHILADELPHIA, Pennsylvania
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: 04/26/2023
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