Squash the Beef
Vegan
Overview
Raised: $45,200
Total Commitments ($USD)
Platform
Honeycomb
Start Date
01/11/2024
Close Date
03/04/2024
Min. Goal
$40,000
Max. Goal
$100,000
Min. Investment
$100
Security Type
Debt
Series
Seed
SEC Filing Type
RegCF
Interest Rate
10.75%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/30/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$869
# of Investors
77
Momentum
Funded
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Year Founded
2019
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Squash the Beef is raising funds on Honeycomb. It is a premier vegan food destination in Cleveland, Ohio. Squash the Beef offers a diverse range of dining experiences and also provides catering services to its clients. The business also runs a mobile food service at fairs and festivals across multiple states and has a carefully crafted menu for plant-based eaters. Candace Maiden founded Squash the Beef in March 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $100,000. The campaign proceeds will be used for payroll support, marketing and promotions, professional and legal services, upgradation of steamtables and current grills, and refinancing high-interest debt.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$290,277 |
$145,314 |
|
COGS |
$153,814 |
$82,009 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$60,053 |
$32,064 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$19,269 |
$-3,527 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$19,269 |
$-3,527 |
|
Short-Term Debt |
$102,857 |
$49,520 |
|
Long-Term Debt |
$0 |
$20,737 |
|
Total Liabilities |
$102,857 |
$70,257 |
Financials as of: 01/11/2024
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