Plum Island Grill
NEW AMERICAN RESTAURANT IN NEWBURY, MA
Overview
Raised: $0
Total Commitments ($USD)
Platform
MainVest
Start Date
02/12/2020
Close Date
04/16/2020
Min. Goal
$75,000
Max. Goal
$107,000
Min. Investment
$100
Security Type
Revenue Share
Series
Series A
SEC Filing Type
RegCF
Return Multiple
1.30X
Rolling Commitments ($USD)
Status
Not Funded
Reporting Date
04/18/2020
Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise
$0
Momentum
Not Funded
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Year Founded
1998
Industry
Food, Beverage, & Restaurants
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
Low
Plum Island Grille, a new American restaurant in Newbury, MA, is raising funds on MainVest. The eclectic menu of the restaurant features fresh seafood, small plates, farm-raised meats, and gluten-free and vegetarian entrees. The food at Plum Island Grille is created using local, fresh, and simple ingredients. Plum Island Grille was founded by Chef Francis Broadbery in 2003. The restaurant plans to raise a minimum of $75,000 and a maximum of $107,000, and the funds will be used for financial restructuring. Plum Island Grille already has an average monthly revenue of $120,000, an average ticket size of $40 per person, and a profit margin of 8%. It also has a proven demand with a loyal customer base for the past 20 years.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,400,000 |
$1,445,000 |
|
COGS |
$30,000 |
$677,876 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$40,000 |
$782,146 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$20,000 |
$14,706 |
|
Accounts Receivable |
$30,000 |
$0 |
|
Total Assets |
$600,000 |
$566,841 |
|
Short-Term Debt |
$270,000 |
$260,000 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$270,000 |
$260,000 |
Financials as of: 02/12/2020
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