Texas Inn

Texas Inn

Restaurant

Restaurant

Overview

Raised to Date: Raised: $120,000

Total Commitments ($USD)

Platform

Honeycomb

Start Date

01/21/2024

Close Date

03/06/2024

Min. Goal
$60,000
Max. Goal
$120,000
Min. Investment

$100

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

11.50%

Term Length

3.0 years

Rolling Commitments ($USD)

Status

Active

Reporting Date

02/22/2024

Days Remaining

13

% of Min. Goal

200%

% of Max. Goal

100%

Likelihood of Max
exceeded
Avg. Daily Raise

$3,750

# of Investors

90

Momentum
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Year Founded

2018

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

Lynchburg, Virginia

Business Type

Life Style

Texas Inn is raising funds on Honeycomb. It is an old-school diner with three locations across Virginia. Texas Inn serves hot dogs, burgers, and all-day breakfast and is famous for its original recipe chili and Cheesy Western sandwich. The business served almost 300,000 customers in 2022 and ships its cheesy western kits, bulk relish, bulk chili, and chili dog kits to 48 states. David Saunders founded Texas Inn in September 2018. The current crowdfunding campaign has a minimum target of $60,000 and a maximum target of $120,000. The campaign proceeds will be used for equipment costs, inventory and dry goods, systems, cookware, training, licenses and fees, and rent and utilities.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$2,213,151

$1,605,202

COGS

$922,064

$614,940

Tax

$0

$0

 

 

Net Income

$-182,138

$-195,068

Summary Balance Sheet

FY 2022 FY 2021

Cash

$120,969

$420,090

Accounts Receivable

$0

$0

Total Assets

$357,605

$685,175

Short-Term Debt

$322,687

$407,764

Long-Term Debt

$163,000

$127,000

Total Liabilities

$485,687

$534,764

Financials as of: 01/21/2024
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Texas Inn on Honeycomb 2024
Platform: Honeycomb
Security Type: Debt

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