The Spot On Mill Street
[Closed for Investment] The Spot on Mill Street is raising funds on Honeycomb. It is a restaurant, bar, and lounge located in Historic Occoquan, Virginia. The Spot on Mill Street is nestled in an old county structure that lends it a quaint charm and adds to its diverse offerings of breakfast, lunch, and dinner options. The food business has a loyal customer base and has been the recipient of the ‘Best Coffee Shop’ award for four consecutive years. David Ormsby and Denise Ormsby founded The Spot on Mill Street in July 2019. The current crowdfunding campaign has a minimum target of $70,000 and a maximum target of $75,000. The campaign proceeds will be used to refinance high-interest debt.
Investment Overview
Raised: $75,000
Deal Terms
Total Commitments ($USD)
- Platform
- Honeycomb
- Start Date
- 08/02/2024
- Close Date
- 09/20/2024
$70,000
$75,000
$100
Debt
Seed
RegCF
14.00%
3.0 years
Company & Team
Company
- Year Founded
- 2019
- Industry
- Food, Beverage, & Restaurants
- Tech Sector
- Distribution Model
- B2C
- Margin
- Low
- Capital Intensity
- Low
Financials
- Revenue -5.8% YoY
- $480,779
- Monthly Burn
- $13,438
-
Runway
- 1.9 months
- Gross Margin
- 61%
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $0
- VC Backed?
- No