Shady Grove Foods

Shady Grove Foods

Restaurant

Restaurant

Overview

Raised this Round: Raised: $8,700

Total Commitments ($USD)

Platform

Honeycomb

Start Date

08/10/2023

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    Open SEC Filing

Interest Rate

12.50%

Term Length

3.0 years

Year Founded

2020

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

LONG BEACH, California

Business Type

Life Style

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: 08/10/2023
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Shady Grove Foods on Honeycomb 2023
Platform: Honeycomb
Security Type: Debt

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