Sip + Co

Sip + Co

Cafe

Cafe

Overview

Raised to Date: Raised: $1,100

Total Commitments ($USD)

Platform

Honeycomb

Start Date

11/15/2023

Close Date

12/15/2023

Min. Goal
$40,000
Max. Goal
$850,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

10.75%

Term Length

3.0 years

Rolling Commitments ($USD)

Status

Active

Reporting Date

12/03/2023

Days Remaining

12

% of Min. Goal

3%

% of Max. Goal

0%

Likelihood of Max
unlikely
Avg. Daily Raise

$61

# of Investors

4

Momentum
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Year Founded

2021

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

New York, New York

Business Type

Life Style

Sip + Co is raising funds on Honeycomb. It is a cafe in Manhattan, New York that offers specialty coffee and house-made pastries and desserts. Sip + Co roasts its own coffee and makes fresh pastries to order using high-quality and fresh ingredients. The cafe has excellent reviews and reported a 108% year-over-year increase in revenue from 2021 to 2022. Chin Keung Mong founded Sip + Co in February 2021. The current crowdfunding campaign has a minimum target of $40,000 and a maximum target of $850,000. The campaign proceeds will be used for equipment, construction of a second location, and working capital.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,500,419

$718,899

COGS

$555,107

$237,071

Tax

$0

$0

 

 

Net Income

$139,488

$111,372

Summary Balance Sheet

FY 2022 FY 2021

Cash

$109,266

$62,787

Accounts Receivable

$0

$0

Total Assets

$152,686

$101,787

Short-Term Debt

$0

$20,345

Long-Term Debt

$0

$0

Total Liabilities

$0

$20,345

Financials as of: 11/15/2023
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Sip + Co on Honeycomb 2023
Platform: Honeycomb
Security Type: Debt

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