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Security Type
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Revenue Sharing
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Categories
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Retail
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Min Investment
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$100
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Offering Date
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May 19, 2021
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Target Raise
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$25.00K-$40.00K
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Security Price
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$1
Company Description
Cheap Chick Trading Company makes the resale clothing experience fun for our customers, fulfilling for our employees, and rewarding for our owners. It is a sustainable and ethical business that reduces waste and achieves profits through the buying, selling, and trading of gently used clothing and accessories.
Key Deal Facts
Customers bring gently used, clean clothing and accessories to Cheap Chick. When an item meets our criteria, an offer of cash or store credit is made on the spot.
The item then becomes our merchandise and is immediately processed to the sales floor for purchase. Inventory is refreshed daily with minimum time and effort, as compared to consignment model resale businesses.
Use of Proceeds
- Buildout: $20,000
- Equipment: $17,600
- Mainvest Compensation: $2,400
Management Team / Advisory Board Bios
Shannon Styes, Owner
Shannon brings 25 years of retail management experience. This includes six years in the resell niche, including Plato’s Closet’s corporate store where she trained franchisees opening their own locations. She went on to manage high volume brands including Old Navy, Banana Republic, Talbot’s, and DSW. Over the course of her corporate career, she opened three stores, and managed businesses with sales over $6m and 10,000 sq ft. in retail space. Her stores regularly performed in the top 10% of their companies. In 2019, she left corporate retail to open a neighborhood coffee shop, which was subsequently named best new business by the readers of the local newspaper.
