Overview

Raised to Date: Raised: $100,576

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

Wefunder

Start Date

06/07/2020

Close Date

09/28/2020

Min. Goal

$20,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF    

Valuation Cap

$1,000,000

Discount

10%

Rolling Commitments ($USD)

Status

Funded

Reporting Date

10/03/2020

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$898

# of Investors

85

Momentum

Funded

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Savannah Sauce Company

Year Founded

2014

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2B

Margin

High

Capital Intensity

High

Location

Savannah, Georgia

Business Type

Life Style

Company Website

Savannah Sauce Company, with a valuation cap of $2 million, is raising funds on Wefunder. The company makes and sells wholesome, homemade, and delicious sauces. The sauces are great tasting and meet the dietary and quality requirements of health-conscious customers. The product line of Savannah Sauce Company includes hot sauces, ketchups, BBQ sauce, marinades, and other assorted sauces. Savannah Sauce Company was founded by Tracey Richburg and Michael Roberson in 2014 and has raised $80,000 since its inception. The proceeds of the current crowdfunding campaign, with a minimum goal of $50,000 and a maximum goal of $250,000, will be used for marketing, distribution, and inventory. Savannah Sauce Company already has its signature sauces in 46 Whole Foods Market stores in the southern region. The sales of the company have not been negatively impacted by COVID-19.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$137,051	$96,515
COGS	$43,629	$61,952
Tax	$0	$0
Net Income	$43,788	$18,667

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$89,679	$36,047
Accounts Receivable	$0	$0
Total Assets	$134,983	$91,199
Short-Term Debt	$0	$0
Long-Term Debt	$0	$0
Total Liabilities	$0	$0

Financials as of: 06/07/2020

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Savanah Sauce Founder Michael Roberson on Philanthropy and Profit

Not all startups want to create the next technological breakthrough. Some companies are more focused on making a great product and giving back to their community while they’re at it. That’s the ethos of Savannah Sauce Company. This Georgia-based startup makes sauces of all kinds, from hot sauce to marinades to relish.

Savannah Sauce Company is dedicated to doing more than just running a business though. We spoke to founder Michael Roberson about what he calls “the sweet spot” where profits meet philanthropy and what investors should know about Savannah Sauce Company.

Note: This interview was conducted over email. It has been lightly edited for clarity and length.

Read Founder Interview