Shady Grove Foods
Restaurant
Overview
Raised: $8,700
Total Commitments ($USD)
Platform
Honeycomb
Start Date
08/11/2023
Close Date
09/11/2023
Min. Goal
$50,000
Max. Goal
$100,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
12.50%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
09/10/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$281
# of Investors
9
Momentum
Not Funded
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Year Founded
2020
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Shady Grove Foods is raising funds on Honeycomb. It is a full-service restaurant in Long Beach, California, that specializes in barbecue and Cajun-style cuisine. Shady Grove Foods offers a unique combination of bold and comforting flavors and brings a touch of Cajun cooking into the cultural diversity of Long Beach. The business has been featured in the Long Beach Food Scene and reported revenue growth of 15% from 2021 to 2022. Dennis Robicheau and Dave Robicheau founded Shady Grove Foods in February 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $1 million. The campaign proceeds will be used for permitting and construction of smoking equipment.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$356,869 |
$358,142 |
|
COGS |
$70,544 |
$186,166 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$1,877 |
$-18,006 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$18,357 |
$21,089 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$244,959 |
$247,691 |
|
Short-Term Debt |
$143,880 |
$72,890 |
|
Long-Term Debt |
$959 |
$1,700 |
|
Total Liabilities |
$144,839 |
$74,590 |
Financials as of: 08/11/2023
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