StyleBar

StyleBar

Luxury hair at affordable prices for all

Luxury hair at affordable prices for all

Overview

Raised this Round: Raised: $56,410

Total Commitments ($USD)

Platform

SMBX

Start Date

07/20/2022

Close Date

10/10/2022

Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment

$10

Security Type

Debt

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

8.50%

Term Length

5.0 years

Year Founded

2019

Industry

Beauty & Personal Care

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Washington, District of Columbia

Business Type

Life Style

Style Bar is raising funds on SMBX. It is a high-end grooming and beauty destination located in the Dupont Circle neighborhood of Washington, DC. The salon is open for both ladies and gentlemen and specializes in contemporary and classic styling. The services offered by Style Bar include coloring, styling, haircuts, barbering, and beard trims. The business has projected its sales to triple this year and plans to expand its team of hair architects. Cornelius Payne founded Style Bar in November 2019. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for marketing, hiring, and other expenses.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$336,742

$214,933

COGS

$42,994

$18,588

Tax

$0

$0

 

 

Net Income

$36,558

$41,885

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$9,902

$22,770

Accounts Receivable

$0

$0

Total Assets

$9,902

$22,770

Short-Term Debt

$0

$3,214

Long-Term Debt

$40,200

$23,200

Total Liabilities

$40,200

$26,414

Financials as of: 07/20/2022
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Style Bar on SMBX 2022
Platform: SMBX
Security Type: Debt

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