Reem's Falafel
Food Truck
Overview
Raised: $1,800
Total Commitments ($USD)
Platform
Honeycomb
Start Date
09/04/2024
Close Date
10/18/2024
Min. Goal
$75,000
Max. Goal
$100,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
12.75%
Term Length
3.0 years
Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Reem’s Falafel is raising funds on Honeycomb. The food business is based in Austin, Texas, and brings authentic Jerusalem street food to downtown Austin. Reem’s Falafel uses authentic cooking styles and high-quality ingredients to make its falafels and other delicacies available in gluten-free and dairy-free options. The business has a loyal customer base and has won several awards, including “Best Shawarma and Falafel” by Austin’s only Middle Eastern blogger and one of the top five Best Middle Eastern restaurants by the Austin Chronicles. Tony Musleh founded Reem’s Falafel in March 2021. The current crowdfunding campaign has a minimum target of $75,000 and a maximum target of $100,000. The campaign proceeds will be used for a new food truck, running capital, and marketing.
Summary Profit and Loss Statement
| FY 2023 | FY 2022 | |
|---|---|---|
|
Revenue |
$198,488 |
$158,557 |
|
COGS |
$11,755 |
$16,911 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-2,800 |
$553 |
Summary Balance Sheet
| FY 2023 | FY 2022 | |
|---|---|---|
|
Cash |
$1,025 |
$6,577 |
|
Accounts Receivable |
$675 |
$675 |
|
Total Assets |
$22,649 |
$27,452 |
|
Short-Term Debt |
$26,589 |
$27,789 |
|
Long-Term Debt |
$-283 |
$520 |
|
Total Liabilities |
$26,306 |
$28,309 |
Financials as of: 09/04/2024
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Raise History
| Offering Name | Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Reem's Falafel | 10/18/2024 | Honeycomb | - | $1,800 | Debt | Active | RegCF |
No prior online funding rounds.
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