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Security Type
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Preferred Stock
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Min Investment
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$1,114
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Offering Date
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December 21, 2022
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Expected Close Date
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February 15, 2023
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Target Raise
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$25.00K-$1.24M
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Security Price
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$185.72
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Valuation
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$12,500,000
- Number of Employees
- 26
- Cash
- $162,447
- Revenue
- $123,910
- Short Term Debt
- $204,236
- Cost of Goods
- $0
- Long Term Debt
- $962,301
- Net Income
- $-1,116,894
Company Description
New York City to Washington, D.C. is the premier mass transit market in North America, yet our travel options are a series of pain points that we pay entirely too much for. At the high end, the hassle and inconvenience of the airline shuttles are rarely justifiable for this short of a trip. The trains can be overcrowded, face disruptions, and have customer service that leaves much to be desired. At the low end, discount bus companies provide an attractive price point, but the positives end there.The Jet is disrupting the intercity travel space by offering the leading affordable, first-class travel option. Features include:The HoverSeat™, the world’s first motion-canceling passenger seat, patented and designed by Bose engineers (signed exclusivity agreement on tech)An onboard attendant serving light food, drinks, beer & wineAn upscale restroom; streaming-fast HiFi WiFi™Advance seat reservations and a seamless boarding processPriced from $99 one-way, city-center-to-city-centerIn our first year (since Nov '21), The Jet has become one of the most talked-about luxury travel options between DC and NYC. Featured in the New York Times, Washington Post, and on Good Morning America, we are aiming to take the intercity travel market in the northeast corridor by storm, even causing an aviation journalist to remark, “this could ruin regional airlines.” We have averaged 82% ridership in our first year (since March '22) and routinely sell out on weekends. With only 4 buses in our fleet, demand is literally outstripping supply.Our business model has passed due diligence with a quorum of accredited investors. Ticket prices range from $99 to $199 one-way, with an average seat price projected to reach $145 by the end of 2023 (currently $135). With 19 seats per coach, we have a 55% operating breakeven point and a 20% net profit margin projected.
Perks
Anyone who invests $1,500+ by Friday, January 13th, at 11:59pm ET will receive one free transferable one-way trip between DC and NYC in addition to other perks.
Invest $1,500-$1,999, receive:
A 50% discount off a roundtrip with The Jet (transferable)
20 x $10 gift certificates to share with friends and family
Invest $2,000-$9,999, receive:
1 x free roundtrip between DC and NYC (transferable)
4 x 50% discounts for roundtrips on The Jet (transferable)
20 x $10 gift certificates to share with friends and family
Invest $10,000-$49,999, receive:
1 x free roundtrip for up to 4 people.
Limited Edition The Jet The North Face Men's ThermoBall Trekker Jacket
4 x 50% discounts for roundtrips on The Jet (transferable)
20 x $10 gift certificates to share with friends and family
Invest $50,000 or more, receive:
1 x Unlimited ride pass for one year (giftable)
or
1 x day private charter for you and 18 friends to enjoy The Jet for a special event (originating DC/NYC metro areas only) (a $5,350 value)
Limited Edition The Jet The North Face Men's ThermoBall Trekker Jacket
4 x 50% discounts for roundtrips on The Jet (transferable)
20 x $10 gift certificates to share with friends and family
It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.
Please note that due to share price calculations, some final investment amounts may be rounded down to the nearest whole share - these will still qualify for the designated perk tier. Additionally, investors must complete the online process and receive an initial email confirmation by the deadline stated above in order to be eligible for perks.
Key Deal Facts
Achieved $1.94M in gross revenue since launch in November 2021, and on track to surpass $2M in 2022 (unaudited)
First to market with a patented motion-canceling passenger seat designed by Bose engineers that eliminates the bumps and bounces of bus travel (signed a 3-year exclusivity deal)
4.9-star Google rating (190+ reviews) with a high level of brand focus and excitement across social media
Consistent monthly sales growth since launch with ridership occupancy averaging > 80% since March 2022
The launch corridor of the Northeast is a $700M market, with 50 national expansion markets identified, opening a multi-billion dollar opportunity
Management Team / Advisory Board Bios
Charles Neal
General Manager
Damon Mininni
Fleet & Operations Manager