CLOSED
GET A PIECE OF LOCALVORE
Connecting conscious consumers with local restaurants to end hunger.
REASONS TO INVEST
TEAM
Michael Nedell • Co-Founder, COO & Director
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Daniel White • Co-Founder, CEO & Director
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Gage Griffing • CRO & Director
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Overview
A platform for local
Localvore’s technology platform was created to connect people with restaurants that support local food producers. The channel offers a simple way for conscious consumers to search local businesses, access offers, and engage with others on the social feed. During the pandemic, we added functionality that allows people experiencing hunger to order food directly from restaurants participating in the Everyone Eats program, helping to keep struggling restaurants afloat and making sure no one in our community went hungry. It’s a win-win-win model that is proven in Vermont and ready to scale nationally.
the problem
Big Tech Doesn’t Work for Small Business
Big companies like Yelp, Facebook, and Doordash miss the mark for small businesses and conscious consumerism. These companies are making a profit on the backs of small restaurant owners, charging fees that cut into already slim margins. What’s more, it’s hard to find restaurants that appeal to the conscious consumer—the one buying from local producers and farmers in their community. Localvore is free to businesses and to anyone who uses the channel for search and discovery. No third-party fees. No big chains. No convoluted algorithms.
The Market
We are addressing the unmet needs of the Conscious Consumer
When DoorDash went public, the market was valued at $50 billion. According to our research, we estimate that there are about 30 million conscious consumers* that match the demographic of our current Localvore customers. Capturing 10% of these consumers at a $9.95/month subscription price would yield over $300 million in annual recurring revenue.
*Source: BBMG Conscious Consumer Report, Biz Journal
What sets us apart from other consumer tech apps is that we are free for businesses to use. Third-party tech companies have put all their energy into revenue generation from the restaurant and retail side. As they scale up through Venture Capital funding and extreme growth, they end up having to charge restaurants large fees that cause a significant loss on margins for the business (source). As a result, consumers are also impacted as it makes it harder for them to buy locally, either due to a lack of available inventory on other apps (due to financial costs imposed on small businesses) or by being met with high costs or fees themselves in order to support these organizations. It’s just not sustainable no matter which side of the marketplace you’re on.
the solution
Localvore is more than just a tech company, it's a movement
We are building a movement that urges everyone to consider their interactions and the effects on the local economy every day with their purchases and support to further reinforce the idea that keeping our dollars local can have a direct impact on our communities on a large scale.
When money is invested locally, it is recirculated and strengthens the community and the ability for consumers to help their neighbors.
Restaurants are built on social experiences and deserve a free social platform that connects them with the local community. Consumers deserve a platform that is free to view and interact with offers, local services and directories, and offers that refresh daily, weekly, or monthly so they don’t have to worry about expiration dates or keeping track of coupons. And everyone deserves a warm meal when they’re hungry.
"Localvore is a very unique platform; it connects businesses and consumers with common interests. Our past partnerships prove Localvore has the ability to draw intense focus on the local food scene through their presence in social media and technology.
- Owner and Chef Chiuho Sampson had this to say about Localvore and their campaign in support of Vermont Works for Women
*This testimonial may not be representative of the experience of other customers and is not a guarantee of future performance or success.Our company currently generates revenue in two ways. One, as a service provider for the Vermont Everyone Eats program, and two, through a consumer subscription service where members are charged a fee of $9.95/month or $60/year. Our subscription service allows us to fight food insecurity and support local restaurants while growing our business.
In 2019, pre-pandemic, we activated 1,410 subscriptions. During the pandemic we iterated and added a revenue stream as the digital voucher system for the Vermont Everyone Eats program, facilitating over 500,000 meals since late 2020 and processed approximately $5 million to our restaurant partners.
KPI’s since January 1st, 2019 in Burlington, Vermont: (Data from Stripe)
- Average Customer Acquisition Cost = $20
- Average Spend Per Customer = $56
- Average Churn Rate = 8.55%
- Lifetime Value = $75
Why invest
Do good by your neighbor and humankind
Our vision is to solve hunger by creating innovative solutions for local restaurants.
At Localvore, we feel that the world needs a more purposeful technology platform. Our framework is rooted in strengthening local food systems by supporting local restaurants to help end hunger. Our vision is to build a business powered by conscious consumers that are inspired by the mission of ending hunger through purchasing their subscription.
Since 2015 Localvore originally launched has generated over 22,000 customers and has partnered with hundreds of restaurants, local businesses, and non-profit partners. In the past three years, we’ve grown revenue by over 100% YOY and became sustainable during the COVID-19 pandemic.
Join us in the movement to end hunger by empowering conscious consumers and small businesses. Localvore is on a mission to revolutionize consumer tech by supporting and encouraging our neighbors!
ABOUT
HEADQUARTERS
66 Peru St.
Burlington, VT 05401
WEBSITE
View Site
TERMS
Localvore
Overview
PRICE PER SHARE
$0.39
DEADLINE
Nov. 1, 2022 at 6:59 AM UTC
VALUATION
$9.8M
FUNDING GOAL
$10K - $890K
Breakdown
MIN INVESTMENT
$249.99
MAX INVESTMENT
$106,999.62
MIN NUMBER OF SHARES OFFERED
25,641
MAX NUMBER OF SHARES OFFERED
2,282,051
OFFERING TYPE
Equity
SHARES OFFERED
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.
Investment Incentives*
Time-Based Investment Incentives
Friends and Family
Invest within the first 72 hours and receive 15% Bonus Shares.
Super Early Bird
Invest within the first week and receive 10% Bonus Shares.
Early Bird
Invest within the first two weeks and receive 5% Bonus Shares.
Amount-Based Investment Incentives
Tier 1 | $249+
Invest $249+ and receive 1 free annual membership.
Tier 2 | $500+
Invest $500+ and receive 2 free annual memberships.
Tier 3 | $1,000+
Invest $1,000+ and receive 1 lifetime membership.
Tier 4 | $5,000+
Invest $5,000+ and receive 1 lifetime membership + 5% Bonus Shares.
Tier 5 | $10,000+
Invest $10,000+ and receive 1 lifetime membership + 8% Bonus Shares.
Tier 6 | $25,000+
Invest $25,000+ and receive 1 lifetime membership + 10% Bonus Shares.
Tier 7 | $50,000+
Invest $50,000+ and receive 1 lifetime membership + 15% Bonus Shares.
Tier 8 | $100,000+
Invest $100,000+ and receive 1 lifetime membership + 20% Bonus Shares.
*All perks occur when offering is complete.
The 10% StartEngine Owners' Bonus
Localvore, Inc. 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 Common Stock at $0.39 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $39. 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 in addition to the aforementioned bonus.
Insider Investment Notice
Officers, directors, executives, and existing owners with a controlling stake in the company (or their immediate family members) may make investments in this offering. Any such investments will be included in the raised amount reflected on the campaign page.
Irregular Use of Proceeds
PRESS
ALL UPDATES
10.17.22
1 Million Meals for Vermont Everyone Eats
We crossed a big milestone for the Localvore and our partnership with the Vermont Everyone Eats program.
Localvore has officially seen over 1 million meals ordered and redeemed through our app, which also means that we have paid our restaurant partners over $10 million in revenue to help feed over 20,000 people in Vermont who use the app for their household.
This is not charity work for Localvore. We are making revenue through our program partners who pay us for this service. Now is the time to invest with only 14 days left in our campaign and every dollar will go toward our mission of strengthening local economies and working with restaurants to end hunger.
Thank you for considering,
Dan, Michael, and Gage
10.05.22
Last month to invest!
Hey Localvores!
It's the last month to invest in Localvore's community round. We appreciate all the interest and support to help us solve food insecurity for the communities we serve. Please get your investments finalized so you don't miss out.
There are only a few weeks left in the campaign!
With gratitude,
Dan and Team
09.19.22
Our Community Joins In! | Insider Investment Notice
We're excited to see our community come in and invest in Localvore!
Our Insiders have invested a total of $1363.13 into the offering to date!
We hope you join in as well! Invest in Localvore—https://www.startengine.com/localvore
Please refer to the Company’s offering materials for further information and refer to the Company’s Risk Factors.
09.01.22
2 years of Everyone Eats & 2 months left to invest in Localvore!
This fall we will have been powering the Vermont Everyone Eats program for 2 years. We have facilitated more than 860,000 meals through our mobile app and sent restaurants more than $8.6 million from our payment services for the program.
We were hired by the Everyone Eats program because our app allows people experiencing food insecurity to simply place a takeout order at their local neighborhood restaurant, and because of the platform we can scale out the opportunity for restaurants in every part of the state.
With only two months left in our campaign, we encourage you to invest and help us continue to make innovative steps to feed our food-insecure communities in America while paying restaurant owners much-needed supplemental revenue from our program partners.
The image below is an example of all the love and support we are getting for this program and our mobile app and service!
Eat Local, Be Happy!
Dan, Michael, and Gage
06.29.22
Dan White is presenting Localvore at CONNECTpreneur tomorrow!
Hey, followers of this campaign and new investors,
Our very own Dan White, Co-founder & CEO is presenting Localvore tomorrow at this rocket pitch event.
Register for the virtual CONNECTpreneur Rocket Pitch event held on June 30th! This will be their 74th event (30th Virtual) over the last 11 years. Here's the link to the organization and the Eventbrite link below is to register.
EVENTBRITE
Please share the event registration link with your friends, colleagues, investors, board members, etc. Again, here is the link to the Eventbrite site: https://rocketjune2022.
We hope to see you and connect with you there!
Team Localvore
06.09.22
Everyone Eats Extension
Yesterday Governor Phil Scott of Vermont signed Bill S.11 which extends the Everyone Eats program another 8 months beyond Q2 2022 with an additional $1.3M from the state of Vermont to match FEMA’s 90% reimbursement rate.
This is exciting news for Localvore in that our service provider revenue from the program will continue through Q1 2023 and give us more capital and runway to expand to Minnesota and other New England markets.
Here’s more on the big news!
05.18.22
Over $50k in the first 2 weeks!
Hi Localvore Community,
We are off to a great start and have raised over $50k in our first two weeks from 42 investors!
Our community is growing and we wanted to let you know that we will be doing a live zoom call on the first Wednesday of each month to build relationships, answer questions, and find new opportunities to grow together. The first one is Wednesday, June 1st and the information is below.
The initial goal was to reach the $45k milestone and now we are focused on hitting the $100k milestone. Please help us get there by sharing the campaign page with your network!
We want you to truly feel a part of our purpose to help end hunger and support restaurants, so I'll leave you with a recent post on our social feed from a Localvore user in Vermont, so you can feel the authentic appreciation people have for what we are doing. Now, you too are a part of taking this further.
As always, with gratitude,
Dan White
Zoom Call June 1st, 2022 Info:
Topic: Localvore Community Update!
Time: Jun 1, 2022 11:00 AM Eastern Time (US and Canada)
Join Zoom Meeting
https://us02web.zoom.us/j/87907970422?pwd=aWsxQ2VybEZvRmRBcTcydzlmZUQ3QT09
Meeting ID: 879 0797 0422
Passcode: 005564
One tap mobile
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Find your local number: https://us02web.zoom.us/u/kw8P0ukDw
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).
$249
Tier 1
Invest $249+ and receive 1 free annual membership.
$500
Tier 2
Invest $500+ and receive 2 free annual memberships.
$1,000
Tier 3
Invest $1,000+ and receive 1 lifetime membership.
$5,000
Tier 4
Invest $5,000+ and receive 1 lifetime membership + 5% Bonus Shares.
$10,000
Tier 5
Invest $10,000+ and receive 1 lifetime membership + 8% Bonus Shares.
$25,000
Tier 6
Invest $25,000+ and receive 1 lifetime membership + 10% Bonus Shares.
$50,000
Tier 7
Invest $50,000+ and receive 1 lifetime membership + 15% Bonus Shares.
$100,000
Tier 8
Invest $100,000+ and receive 1 lifetime membership + 20% Bonus Shares.
JOIN THE DISCUSSION
0/2500
John Hoogesteger
3 years ago
You compare yourself to Doordash, but they offer a service, home delivery. All you seem to offer is a social media platform for restaurants, which they can build on their own. Seems like the subscription for consumers is more charity than part of some actual consumer business model. Please explain.
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Donald Mader
3 years ago
Good concept , My wife and I are interested in investing in this company. Have concerns about your revenue projections also will like to have more information on your past year financials, interested in investing with significant amount. Thank you in advance for this information.
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Kyle Sperber
3 years ago
I am so confused how you plan to make money? This sounds like a great CHARITY and not really a business at all? No fees being charged? The sole reason these competing companies charge the fees is because that is their business model and is how they have to operate to MAKE money. How do you differ if you aren't doing that? Cost is past by higher prices to the customer?? I am not knocking what you are doing because your mission seems respectable as a way to prop up local businesses; I just don't get how giving you money is anything short of a donation as opposed to an investment?
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HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
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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.
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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.
PINNED BY STARTUP
Yosef Hertz
3 years ago
Hi, a few questions. What is your revenue YTD or at least for the first quarter (what revenue growth are you on track for, for 2022?)? What is your monthly burn and what is your runway? What is your CAC? How do you plan on growing the team?
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