Spitz MN
Mediterranean street food
Overview
Raised: $22,800
Total Commitments ($USD)
Platform
SMBX
Start Date
03/22/2023
Close Date
06/06/2023
Min. Goal
$100,000
Max. Goal
$400,000
Min. Investment
$10
Security Type
Debt
SEC Filing Type
RegCF
Interest Rate
9.00%
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
06/06/2023
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$304
Momentum
Not Funded
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Year Founded
2015
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Location
MINNEAPOLIS, Minnesota
Spitz MN is raising funds on SMBX. It is a restaurant in Minneapolis, Minnesota, that serves award-winning food, great drinks, and vibrant street art. The restaurant takes a healthy take on the Mediterranean food served on the streets of Europe to bring it to the cities of America. Spitz MN has received excellent reviews in publications, including the Los Angeles Times, and aims to open its second location soon. Chris Law founded Spitz MN in December 2015. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $400,000. The campaign proceeds will be used for new location construction and equipment purchases.
Summary Profit and Loss Statement
| FY 2021 | FY 2020 | |
|---|---|---|
|
Revenue |
$2,015,331 |
$1,730,686 |
|
COGS |
$545,412 |
$844,251 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$221,123 |
$217,277 |
Summary Balance Sheet
| FY 2021 | FY 2020 | |
|---|---|---|
|
Cash |
$232,622 |
$244,226 |
|
Accounts Receivable |
$26,709 |
$13,896 |
|
Total Assets |
$415,515 |
$377,122 |
|
Short-Term Debt |
$95,382 |
$41,969 |
|
Long-Term Debt |
$0 |
$98,143 |
|
Total Liabilities |
$95,382 |
$140,112 |
Financials as of: 03/22/2023
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