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Security Type
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CAFES
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Categories
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Service Businesses, Technology, Pets/Animals, Repeat Founder
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Min Investment
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$500
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Offering Date
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August 19, 2020
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Expected Close Date
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February 19, 2021
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Target Raise
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$200.00K-$1.07M
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No. Investors
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82
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Security Price
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$1
- Number of Employees
- 20
- Cash
- $49,345
- Revenue
- $596,470
- Short Term Debt
- $1,903,303
- Cost of Goods
- $483,289
- Long Term Debt
- $0
- Net Income
- $-933,072
Company Description
An on-demand platform that connects pet owners with pet stylists for in-home grooming servicesIn five years we hope to be in 30 cities and performing 1 Mil groomings per year. These projections cannot be guaranteed.
Perks
Invest $250+ for Groomit Poo Bags / Cap
$500+ Groomit T-Shirt / Cap / Poo Bags
$1,000+ 1 Free In-Home Grooming
$10,000+ 2 Free In-Home Grooming
Invest $250+ for Groomit Poo Bags / Cap
$500+ Groomit T-Shirt / Cap / Poo Bags
$1,000+ 1 Free In-Home Grooming
$10,000+ 2 Free In-Home Grooming
Key Deal Facts
Generated $1.5 million in revenue in the NY market, easily scalable to major metro cities.
20,000+ registered users, 12000+ groomings completed. Excessive network with 50+ expert groomers.
Underserved pet grooming market of over $6 billion/yr and 7% annual growth.
Partnerships with building managements & veterinarian to drive awareness growth
Increased demand as an essential solution post-COVID-19 with limited contact grooming.
Highly reviewed by users on Yelp & Google Reviews 4.5+
Enhanced backend & frontend software developed, to monitor & maintain user/groomer relationships.
$2.5 million raised in investments & funding
Use of Proceeds
If $200,000 is raised
- 35% marketing & growth, 25% software development, 32.5% support existing business, 7.5% Wefunder intermediary fee
If $1,070,000 is raised
- 50% towards debt, 15% hiring talent, 15% marketing & growth, 10% software development, 2.5% support existing business, 7.5% Wefunder intermediary fee
Management Team / Advisory Board Bios
Sohel Kapadia - CEO
Build startup company to connect 10 Mill Users every month to make international phone calls. Peak revenue 180 Mill
Lars Rissmann - COO
Implemented european company in the north american market to grow to 35 mill revenue.
Anna Zege - Vice President Quality Control
Pet Business Background & Wealth Management, Business degree NYU.
Jun Hyuk Seo - CTO
Build & managed backend for POS Portal with 10+ Mio users.
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ⓘ
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
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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
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The value of the company compared to similar companies raising money from investors.
Valuation
Security Description
A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.