Wagyu House by The X Pot
Restaurants And Bars
Overview
Raised: $40,790
Total Commitments ($USD)
Platform
SMBX
Start Date
03/21/2024
Close Date
04/16/2024
Min. Goal
$10,000
Max. Goal
$31,500
Min. Investment
$10
Security Type
Debt
Series
Pre-Seed
SEC Filing Type
RegCF
Interest Rate
8.50%
Term Length
2.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
04/29/2024
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,632
Momentum
Funded
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Year Founded
2021
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Wagyu House by The X Pot is raising funds on SMBX. It is a unique fusion restaurant in Rowland Heights, California, that serves fine Wagyu beef and other hot pot dishes. Wagyu House by The X Pot serves a diverse selection of Wagyu beef known for its tenderness, marbling, and taste. The business ensures an exceptional dining experience and plans to attract more customers, increase its revenue, and grow its business. David Zhao and Haibin Yang founded Wagyu House by The X Pot in October 2021. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $31,500. The campaign proceeds will be used to increase the marketing initiatives.
Summary Profit and Loss Statement
| FY 2023 | FY 2022 | |
|---|---|---|
|
Revenue |
$7,757,141 |
$8,777,868 |
|
COGS |
$2,266,784 |
$2,680,273 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$298,104 |
$1,036,908 |
Summary Balance Sheet
| FY 2023 | FY 2022 | |
|---|---|---|
|
Cash |
$476,826 |
$275,120 |
|
Accounts Receivable |
$272,775 |
$105,683 |
|
Total Assets |
$1,269,473 |
$853,862 |
|
Short-Term Debt |
$739,379 |
$316,101 |
|
Long-Term Debt |
$-18,790 |
$1,180 |
|
Total Liabilities |
$720,589 |
$317,281 |
Financials as of: 03/21/2024
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