Thrive Tribe Cafe
Vegan Cafe
Overview
Raised: $43,323
Total Commitments ($USD)
Platform
Honeycomb
Start Date
05/30/2023
Close Date
07/11/2023
Min. Goal
$25,000
Max. Goal
$50,000
Min. Investment
$100
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
12.25%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
07/31/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,032
# of Investors
40
Momentum
Funded
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Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Thrive Tribe Cafe is raising funds on Honeycomb. It is a vegan cafe in Barrington, Rhode Island that serves Acai bowls, Colombian arepas, crepes, and sandwiches. The cafe also serves handcrafted coffee, tea, and espresso drinks. Thrive Tribe Cafe mainly caters to customers who follow vegan and vegetarian diets and seek healthier lifestyles. The cafe was awarded the Best Vegan Coffee Shop by RI Monthly Magazine in 2022. Jessica Xavier, Andres Hincapie, and Jacquelyn Smith founded Thrive Tribe Cafe in February 2021. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $50,000. The campaign proceeds will be used for a new lease, construction, equipment and furniture, inventory, marketing, and working capital.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$95,893 |
$0 |
|
COGS |
$60,922 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,571 |
$0 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$4,480 |
$0 |
|
Accounts Receivable |
$5,579 |
$0 |
|
Total Assets |
$20,258 |
$0 |
|
Short-Term Debt |
$4,314 |
$0 |
|
Long-Term Debt |
$47,104 |
$0 |
|
Total Liabilities |
$51,418 |
$0 |
Financials as of: 05/30/2023
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