The Boogie Down Grind

Neutral
BETA

THEMATIC CAFE/BAR

Analytics

Raised to Date: $44,600

Aggregate Commitments $
Platform

MainVest

Start Date

04/21/2020

Close Date

07/08/2020

Min. Goal

$30,000

Max. Goal

$50,000

Min. Investment

$30,000

Security Type

Revenue Share Note

Funding Type

RegCF

Series

Pre-Seed

Weekly Commitments $
Status
Funded
Reporting Date

07/12/2020

Days Remaining
Funded
% of Min. Goal

149%

% of Max. Goal

89%

Likelihood of Max
Funded
Avg. Daily Raise

$572

# of Investors

115

Momentum
Funded
Location

South Bronx, NY

Industry

Food, Beverage, & Restaurants

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Low

Capital Intensity

High

Business Type

Life Style

The Boogie Down Grind, a thematic cafe and bar in South Bronx, NY, is raising funds on MainVest. It is a hip hop cafe that serves craft beers, specialty coffee, and light sides. The offerings of The Boogie Down Grind are top-quality, locally-sourced, and healthy, in addition to the hip hop hospitality experience. The Boogie Down Grind was founded by Majora Carter, with 20 years of experience in community development. The current crowdfunding campaign of the company has a minimum target of $30,000 and a maximum target of $50,000, and the funds will be used to survive COVID-19 and exhibit strong growth after the quarantine ends. The Boogie Down Grind is led by an experienced founder and has an average monthly revenue of $16,000.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$96,514

$268,575

COGS

$63,273

$120,763

Tax

$0

$0

 

 

Net Income

$-73,154

$-121,349

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$1,729

$29,685

Accounts Receivable

$0

$0

Total Assets

$21,214

$153,663

Short-Term Debt

$0

$0

Long-Term Debt

$176,523

$0

Total Liabilities

$176,523

$339,846

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