Black Cat Market

Black Cat Market

Olivia and Indigo are transforming their community cat space into a cat cafe!

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Security Type
Secured Loan
Categories
Food & Bev
Min Investment
$100
Location
Pittsburgh, PA
Offering Date
December 03, 2020
Expected Close Date
January 26, 2021
Target Raise
$15.00K-$25.00K
Deal Notes

Interest Rate: 10.00% annually

Payments: Monthly, disbursed to investors quarterly 

Maturity: 36 months

Personal Guaranty: Olivia Ciotoli and Indigo Baloch

Security Interest: Blanket lien on assets of the company

Company Description

The Black Cat Market is a cat cafe. This is a niche business where people can buy coffee, tea, and other coffee shop beverages and also spend time with adoptable cats.

Our customers are typically people who really love cats. We get a good mix of folks who already have pet cats, folks hoping to adopt, and people who can't currently own cats but want to get some quality pet time. Since we are located in Pittsburgh, which has a fairly large college population, we find a lot of our customers tend to be college students who cannot have cats in their dorms and are looking for a relaxed group activity.

We charge a $5 fee per person for a half hour in the cat room. Guests can also purchase beverages and baked goods to bring into the cat room with them, or to-go. We also stock merchandise with our logo on it, such as t-shirts and mugs. We also sell other odds and ends like cat toys, decorations, jewelry, often from local artists.

Prior to COVID-19, The Black Cat Market also held community events such as poetry nights, art shows, crafting events, board game nights and more. These were very popular and we hope to be able to organize them again in the future once the virus is under control, or in a way that is appropriate according to COVID-19 safety guidelines.

Key Deal Facts

The Black Cat Market has placed in several categories in Pittsburgh City Paper's Best Of PGH contest the past two years, including First Place for “Best Women-Owned Business” and Third Place for “Best Local Pet Store” in 2020, and Second Place for "Best Local Pet Store" and Third place for "Best Place to Buy Yourself Happiness" in 2019.

At the time of writing this, we have helped adopt out 230 cats in a little over two years! This accounts for about 1/3 of our partner rescue's adoptions.

The Black Cat Market has even adopted a cat to a celebrity! In May of 2020, Pixel was adopted by Leah Van Dale (AKA Carmella), a WWE Superstar!

Use of Proceeds

  • $4000 Espresso Machine
  • $3500 Coffee Bar Supplies
  • $3000 Additional Employees
  • $1500 Refrigerator
  • $9000 Rent and Utilities for about 3 months
  • $2000 Decor and Additional Seating
  • $2000 Merchandise (Shirts, Mugs, Etc)

Deal Notes

Interest Rate: 10.00% annually

Payments: Monthly, disbursed to investors quarterly 

Maturity: 36 months

Personal Guaranty: Olivia Ciotoli and Indigo Baloch

Security Interest: Blanket lien on assets of the company

Amount Raised : $0
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Security Description

Secured debt is debt backed or secured by collateral to reduce the risk associated with lending. If the borrower on a loan defaults on repayment, the debt holder can seize the collateral, sell it, and use the proceeds to pay back the debt. Assets backing debt or a debt instrument are considered as a form of security, which is why unsecured debt is considered a riskier investment than secured debt.

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