Umbrella Dry Bar
Zero-proof cocktails. Full bar experience.
Overview
Raised: $63,630
Total Commitments ($USD)
Platform
Wefunder
Start Date
10/27/2023
Close Date
03/01/2024
Min. Goal
$50,000
Max. Goal
$150,000
Min. Investment
$100
Security Type
Revenue Share
Series
Pre-Seed
SEC Filing Type
RegCF
Return Multiple
2.00X
Rolling Commitments ($USD)
Status
Active
Reporting Date
12/02/2023
Days Remaining
90
% of Min. Goal
127%
% of Max. Goal
42%
Likelihood of Max
Avg. Daily Raise
$1,768
# of Investors
56
Momentum
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Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Umbrella Dry Bar is raising funds on Wefunder. It is a bar in Raleigh, North Carolina that serves zero-proof spirits and functional beverages. Umbrella Dry Bar delivers an experiential atmosphere of having a drink and enhancing social connection without the interference of alcohol. The offerings of Umbrella Dry Bar include non-alcoholic beer and wine, functional drinks made of botanical ingredients, and classes and events for creative exploration. Meg Paradise and Kevin Barry founded Umbrella Dry Bar in October 2021. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $150,000. The campaign proceeds will be used for purchasing the physical space from the current bar owner, hiring, cash buffer, and architecture and design.
Summary Profit and Loss Statement
| FY 2022 | FY 2021 | |
|---|---|---|
|
Revenue |
$1,583 |
$0 |
|
COGS |
$3,011 |
$40 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-39,292 |
$-1,040 |
Summary Balance Sheet
| FY 2022 | FY 2021 | |
|---|---|---|
|
Cash |
$337 |
$2,128 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$337 |
$2,128 |
|
Short-Term Debt |
$8,341 |
$1,040 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$8,341 |
$1,040 |
Financials as of: 10/27/2023
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