Carolina Smoke

Carolina Smoke

BBQ Restaurant

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Security Type
Revenue Sharing
Categories
Food & Bev
Min Investment
$100
Location
Morganton, NC
Offering Date
January 22, 2021
Expected Close Date
April 07, 2021
Target Raise
$100.00K-$250.00K
Deal Notes

If you invest $100, the business agrees to share a portion of their revenue until you have been repaid $170. They will owe you this amount by 1/1/2027, regardless of revenue.

Company Description

Our mission is to provide our customers with the best possible quality smoked fresh daily meats, gigantic portions, and sometimes outrageous menu offerings, to become not only a local go-to restaurant but a destination.

We have created a restaurant with the ONLY all wood-smoked meats in the area and developed a cult-like following for many of our menu items and specials. We purchased a run-down BBQ trailer, rehabbed it, and then rented a closed restaurant for storage and prep and for a place to park the trailer when not in use. Our original plan was just to be open on weekends and to travel to special events with no more than 3 employees. The demand for our food was so great we quickly added additional days of operation and are now a full-time 6-day-a-week restaurant with over 20 employees.

Key Deal Facts

More than $830,000 in Revenue in 2020 with NO INDOOR SEATING OR ALCOHOL
Adding a location with indoor seating can triple our business and revenue

Use of Proceeds

  • New Equipment Purchase: $130,000
  • 6 Month Lease Payment: $36,000
  • Upfitting Building: $69,000
  • Mainvest Compensation: $15,000

Management Team / Advisory Board Bios

Emily Dale/Jason Dale
Owner/Operator/Husband/Wife
Jason grew up in the restaurant business, as his mom owned/operated a small family style restaurant adjacent to his Father's convenience store. At age 21, he opened a Sports Bar and Grill. Over the next decade he owned/operated multiple restaurants in the resort town of Myrtle Beach SC. He stepped away from food service for about 15 years while practicing real estate as both a licensed Realtor and a house flipper. Through all this, his passion always remained food service, especially smoking meats. As a teenager, he began experimenting with smokers, and frequently provided his services for parties and get-togethers. Throughout the years, he has smoked meats for fundraisers and events he sponsored on his real estate business. In 2018, he ran across the opportunity to purchase a run-down 30 ft BBQ trailer which is now Carolina Smoke.

Deal Notes

If you invest $100, the business agrees to share a portion of their revenue until you have been repaid $170. They will owe you this amount by 1/1/2027, regardless of revenue.

Amount Raised : $2,400
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Security Description

Revenue Sharing is a form of lending that involves sharing revenue from the business with investors as return on their investment. It is often a fixed percentage of revenue and you are paid until you earn a total return on your investment.

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