Savannah Sauce Company
Early Stage
When life throws tomatoes at you; make salsa!
Overview
Raised: $100,576
Total Commitments ($USD)
Platform
Wefunder
Start Date
06/08/2020
Close Date
09/28/2020
Min. Goal
$20,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
Convertible Note
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$1,000,000
Discount
10%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
10/04/2020
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$898
# of Investors
85
Momentum
Funded
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Year Founded
2014
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2B
Margin
High
Capital Intensity
High
Savannah Sauce Company, with a valuation cap of $2 million, is raising funds on Wefunder. The company makes and sells wholesome, homemade, and delicious sauces. The sauces are great tasting and meet the dietary and quality requirements of health-conscious customers. The product line of Savannah Sauce Company includes hot sauces, ketchups, BBQ sauce, marinades, and other assorted sauces. Savannah Sauce Company was founded by Tracey Richburg and Michael Roberson in 2014 and has raised $80,000 since its inception. The proceeds of the current crowdfunding campaign, with a minimum goal of $50,000 and a maximum goal of $250,000, will be used for marketing, distribution, and inventory. Savannah Sauce Company already has its signature sauces in 46 Whole Foods Market stores in the southern region. The sales of the company have not been negatively impacted by COVID-19.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$137,051 |
$96,515 |
|
COGS |
$43,629 |
$61,952 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$43,788 |
$18,667 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$89,679 |
$36,047 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$134,983 |
$91,199 |
|
Short-Term Debt |
$0 |
$0 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$0 |
$0 |
Financials as of: 06/08/2020
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Founder Profile
Savanah Sauce Founder Michael Roberson on Philanthropy and Profit
Not all startups want to create the next technological breakthrough. Some companies are more focused on making a great product and giving back to their community while they're at it. That's the ethos of Savannah Sauce Company. This Georgia-based startup makes sauces of all kinds, from hot sauce to marinades to relish.Savannah Sauce Company is dedicated to doing more than just running a business though. We spoke to founder Michael Roberson about what he calls "the sweet spot" where profits meet philanthropy and what investors should know about Savannah Sauce Company.
Note: This interview was conducted over email. It has been lightly edited for clarity and length.
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