Wagyu House by The X Pot

Wagyu House by The X Pot

Restaurants And Bars

Restaurants And Bars

Overview

Raised to Date: Raised: $40,790

Total Commitments ($USD)

Platform

SMBX

Start Date

03/21/2024

Close Date

04/15/2024

Min. Goal
$10,000
Max. Goal
$31,500
Min. Investment

$10

Security Type

Debt

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

8.50%

Term Length

2.0 years

Rolling Commitments ($USD)

Status

Active

Reporting Date

04/15/2024

Days Remaining

0

% of Min. Goal

408%

% of Max. Goal

129%

Likelihood of Max
exceeded
Avg. Daily Raise

$1,632

Momentum
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Year Founded

2021

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

High

Capital Intensity

Low

Location

Rowland Heights, California

Business Type

Life Style

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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Wagyu House by The X Pot on SMBX 2024
Platform: SMBX
Security Type: Debt

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