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The Go-To Solution For Food Entrepreneurs
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REASONS TO INVEST
TEAM
Jessica Cooke • Co-Founder, CEO
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Monika Reti • Co-Founder, Head of Product
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Sam Alexander • Technology Advisor
the pitch
HipChefs is a SaaS platform built for chefs by chefs. We help entrepreneurs grow their small businesses, so they can do what they love— providing delicious meals to their local community. Chefs can get cooking with HipChefs in 10 minutes with our comprehensive and easy-to-use platform.
We believe there is no existing technology to fully help chefs sell their home-cooked meals through an easy and profitable workflow. Currently, chefs use multiple workflow programs that are manual, inefficient and costly, leaving businesses unable to scale because chefs spend too much time on administrative tasks. Our mission is to empower small businesses that are predominantly owned by women and people of color. As female founders, we believe in fostering entrepreneurship within our communities. HipChefs promotes hyper-local businesses, yet also creates a thriving community of interconnected entrepreneurs across the US.
HipChefs whisks up success
HipChefs is a workflow solution that enables cooks to grow small businesses that sell home-cooked meals to their community.
With HipChefs, chefs can easily launch their B2C website with ordering capabilities, confidently grow using our productivity tools, and successfully manage their businesses. Our website features include: menu support, a shop and cook calculator, delivery reports, and business and marketing support (including analytics, CRM, and marketing content).
Co-Founder Monika Reti, has built a thriving chain of owner-operated cooking schools with 7 locations. Using the intellectual property from the schools, and sales and strategic partnership experience from Co-Founder Jesse Cooke, HipChefs was born as a platform to grow and scale meal prep-businesses.
The Problem & Our Solution
Chefs selling home cooked meals spend 2-3 days per week on administrative tasks.
We believe there is no existing technology to fully help chefs sell their home-cooked meals through an easy and profitable workflow.
In our opinion, there are many logistical issues with the home chef industry:
- No centralized order-taking system
- Grocery lists are calculated by hand
- Recipes are manually calculated
- No benefits of scale to partner with delivery services
- CRMs are too complex and too costly
HipChefs users spend 60% less time on administrative tasks
HipChefs is a business-in-a-box platform that provides chefs:
- A white-labeled e-commerce site
- An easy-to-read dashboard
- An automated workflow that enables:
- Meal planning with menu support
- Creating a shopping list
- Cooking with automatically scaled recipes
- Pack and delivery reports
- CRM capabilities
A HIPCHEF’S E-COMMERCE SITE:
THE HIPCHEFS DASHBOARD WITH AUTOMATED WORKFLOW:
The HipChefs SaaS business model collects monthly recurring revenue from our chefs through a subscription fee. Affiliate partnerships and referral programs will provide additional revenue.
The Market & Our Traction
The meal prep business is a $5B industry—with existing technology that solely focuses on enterprise clients
(source)
As opposed to existing enterprise technologies and workflows in the meal prep industry, we target the small entrepreneur— which represents a huge and growing market. Our affiliation with Hipcooks Cooking Schools gives us a huge running start for customer acquisition: we have 100,000 cooks to target.
COOK Alliance, one of the leading policy advocates, estimates 100,000 informal food operators in California, representing a SOM of $180M in California alone. COOK Alliance is leading policy reform to legalize meal prep operations from home kitchens and the adoption of Assembly Bill 626. This has created a low cost and accessible way for independent cooks to start small food businesses (source, source).
(source)
We aim to help small businesses predominantly owned by women and people of color and build community by promoting hyper-local businesses.
We are proud of our cost-effective hustling tactics. With just $130,000 (from our friends and family investment round), we’ve completed customer discovery interviews and built a functional MVP. Here’s what our Beta Users say about HipChefs:
*This testimonial may not be representative of the experience of other customers and is not a guarantee of future performance or success.
Why Invest
Support women and minority-owned chefs & stimulate local commerce with HipChefs
Join us to help create small businesses, support women and minority entrepreneurs, build community, and advance sustainability by promoting hyper-local commerce.
We are ready to publicly launch HipChefs! Your investments will help us continue to develop the product based on customer feedback and deliver quality customer service. We will focus on customer acquisition and grow market awareness, so HipChefs can help others whisk up success all across America.
ABOUT
HEADQUARTERS
2648 International Blvd Ste 115 PMB 1014
Oakland, CA 94601
WEBSITE
View Site
TERMS
HipChefs
Overview
PRICE PER SHARE
$0.70
DEADLINE
Apr. 15, 2023 at 6:59 AM UTC
VALUATION
$3.5M
FUNDING GOAL
$15K - $750K
Breakdown
MIN INVESTMENT
$249.90
MAX INVESTMENT
$499,999.50
MIN NUMBER OF SHARES OFFERED
21,428
MAX NUMBER OF SHARES OFFERED
1,071,428
OFFERING TYPE
Equity
SHARES OFFERED
Class B Non-Voting Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.
Time-Based Perks
Super Early Bird - First 72 hours | 10% bonus shares
Early Bird Bonus - Next 7 days | 5% bonus shares
Volume-Based Perks
Tier 1 Perk — Invest $5,000+ and receive 5% bonus shares
Tier 2 Perk — Invest $10,000+ and receive 10% bonus shares
Tier 3 Perk — Invest $25,000+ and receive 20% bonus shares
Loyalty Bonus - 10% bonus to Advisors, Friends, and Family of HipChefs.
*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
HipChefs will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class B Non-Voting Common Stock at $0.70 / share, you will receive 110 Class B Non-Voting Common Stock, meaning you'll own 110 shares for $70. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and the Loyalty Bonus in addition to the aforementioned bonus.
Irregular Use of Proceeds
ALL UPDATES
REWARDS
10%
Stack Venture Club & Rewards!
Members get an extra 10% shares in addition to rewards below!
Venture Club
Venture Club Members earn 10% bonus shares on top of this and all eligible investments for an entire year. Not a member? Sign up at checkout ($275/year).
$5,000
Tier 1 Perk
Invest $5,000+ and receive 5% bonus shares
$10,000
Tier 2 Perk
Invest $10,000+ and receive 10% bonus shares
$25,000
Tier 3 Perk
Invest $25,000+ and receive 20% bonus shares
JOIN THE DISCUSSION
0/2500
Richard Koch
2 years ago
In reading your proposal I'm left with the impression that not all people are welcome. It's a noble endeavor to place the focus on undeserved communities. Why aren'tall communities welcome to take part?
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HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
WHY STARTENGINE?
REWARDS
We want you to succeed and get the most out of your money by offering rewards and memberships!
SECURE
Your info is your info. We take pride in keeping it that way!
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FAQS
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000 are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, they are limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancellation period. Once the four-hour window has passed, it is up to each company to set their own cancellation policy. You may find the company’s cancellation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to be sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
Richard Koch
2 years ago
Thank you. Your response is reassuring. I understand things better.
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