StyleBar
Luxury hair at affordable prices for all
Overview
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
$10
Security Type
Debt
Series
Seed
SEC Filing Type
RegCF
Interest Rate
8.50%
Term Length
5.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
10/30/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$696
Momentum
Funded
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Year Founded
2019
Industry
Beauty & Personal Care
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
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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