Parlay Cafe

Coffee Shop Franchise with Members Only Co-Working Lounge (Social Distancing)

Analytics

Raised to Date: $81,262

Aggregate Commitments $
Platform

Wefunder

Start Date

05/08/2020

Close Date

04/09/2021

Min. Goal

$50,000

Max. Goal

$1,070,000

Min. Investment

$250

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$3,500,000

Discount Rate

20%

Rolling Commitments $
Status
Funded
Reporting Date

04/21/2021

Days Remaining
Funded
% of Min. Goal

163%

% of Max. Goal

8%

Likelihood of Max
Funded
Avg. Daily Raise

$242

# of Investors

172

Momentum
Funded
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Location

Temecula, California

Industry

Real Estate & Construction

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Life Style

Parlay Cafe, with a valuation cap of $3.5 million, is raising funds on Wefunder. It is a coffee shop franchise with the unique concept of members-only co-working lounge. The concept is expected to thrive during COVID-19 due to the social distancing norms. The outlets of Parlay Cafe are located in malls and retail centers and give the feel of airport lounges. Parlay Cafe was founded by Don Mastrangelo, and the first proof-of-concept location was launched in Temecula, CA, in 2019. The current crowdfunding round has a minimum target of $50,000 and a maximum target of $1,070,000, and the funds will be used towards the development of the Franchising Program, the opening of four new company-owned locations, and sales and marketing. The first location of Parlay Cafe broke-even in five months, and the franchise is expected to open 1,000 stores in less than ten years.
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