Where's The Foodtruck

Where's The Foodtruck

We are a marketing platform, connecting foodies and foodtrucks.

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Security Type
SAFE
Categories
Other
Min Investment
$20
Location
Henderson, NV
Offering Date
July 30, 2020
Expected Close Date
October 28, 2020
Target Raise
$50.00K-$250.00K

Company Description

For the decade prior to starting this business, I managed and operated national, corporate restaurants on the Las Vegas Strip. With the experience, knowledge, and expertise I had acquired, I decided to pursue the goal of owning my own business, in the form of a restaurant. As my proof of concept, I decided to start a gourmet foodtruck. This is how many foodtruck owners begin their journey.

The chances of success and even survival of a foodtruck are lower than traditional brick and mortar restaurants. In researching the foodtruck industry and planning my concept, some of the problems and difficulties unique to the industry became clear to me. But being aware of a problem and being able to solve the problem are two different things, and my success depended on solving the problem. I had to find an answer to the question: how will I best ensure the success of my new business?

To find the "how" to achieve greater success, I spoke with existing foodtruck owners. They told me that they need more new and repeat business, increased business during slow times, and increased high-ticket sales, i.e. catering. But to accomplish this, they need customers to physically be at their location to spend money. And to get customers at their location, they need customers to know their location. It's pretty simple, but for a mobile vendor like a foodtruck with an ever-changing location, this is a BIG PROBLEM!

Perks

Invest $250+ for will receive a limited edition WTF investor sticker pack. (To be mailed after the close of the round.)
$500+ will receive a limited edition WTF investor polo shirt or hat. (To be mailed after the close of the round.)
$1,000+ will be invited to a 1-on-1 phone call/video conference call with the founder. (To be scheduled after the close of the round.)
$2,500+ will be treated to dinner with the founder on the Las Vegas Strip. (To be scheduled after the close of the round. Travel accommodations not included.)
$10,000+ will receive a special mention as a key investor on the WTF website. (To be added after the close of the round.) At this level, we will also pay for a 2-night stay at a Las Vegas Strip Casino hotel in conjunction with the dinner. (*Hotel stay must be redeemed within 6 months of the close of the round.)
Invest $250+ for will receive a limited edition WTF investor sticker pack. (To be mailed after the close of the round.)
$500+ will receive a limited edition WTF investor polo shirt or hat. (To be mailed after the close of the round.)
$1,000+ will be invited to a 1-on-1 phone call/video conference call with the founder. (To be scheduled after the close of the round.)
$2,500+ will be treated to dinner with the founder on the Las Vegas Strip. (To be scheduled after the close of the round. Travel accommodations not included.)
$10,000+ will receive a special mention as a key investor on the WTF website. (To be added after the close of the round.) At this level, we will also pay for a 2-night stay at a Las Vegas Strip Casino hotel in conjunction with the dinner. (*Hotel stay must be redeemed within 6 months of the close of the round.)

Key Deal Facts

We have over 20k active users (foodies) and good user engagement.

Positive monthly net revenues and MRR.

$130k+ in gross revenues in 2019, including catering contracts and recurring revenues.

Positive market feedback and penetration in existing target markets.

We're one of the first to market with the features that we utilize, and have the most features.

Use of Proceeds

If $50,000 is raised:

In-app ordering completion and promotion, Hiring and payroll (primarily sales and marketing staff), Marketing & ad spend, Wefunder intermediary fee.

If $100,000 is raised:

In-app ordering completion and UI improvements, Key hires (sales/marketing manager, sales staff), Marketing & ad spend, Wefunder intermediary fee.

If $150,000 is raised:

In-app ordering completion, UI improvements, and software development (such as: loyalty/rewards feature, social media integration, ratings/reviews), Hiring and payroll (sales/marketing manager, sales staff, catering management staff), Marketing & ad spend, Wefunder intermediary fee.

If $249,999 is raised:

New app features, UI/UX update, admin, and analytics software updates currently on our road map, Additional key hires and support staff, Marketing, ad spend, and business growth via events and partnerships, Wefunder intermediary fee.

Management Team / Advisory Board Bios

Nicholas Spindel
Founder & CEO of Where's The Foodtruck
My biggest accomplishment has been conceptualizing, developing, launching, and growing a mobile-app-based platform for the mobile food industry and seeing the impact that Where's The Foodtruck has on foodies and foodtruck owners.
Amount Raised : $64,544
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The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

A SAFE is an agreement between you—the investor—and the company in which the company promises to give you a future equity stake based on the amount you invested. It also involves some kind of a triggering event that must take place in order for you to get your future equity stake. Be careful as you may only get equity if a particular event is triggered.

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