Introduction

SIDES to Go! BBQ is a fast-casual restaurant with Southern-style food and hospitality. With a loyal customer base, we are looking to reopen after a brief hiatus. In order to do so, we need a major update to our electrical and mechanical equipment.

With 15 employees and connections to local schools and nonprofits, we are excited to serve the community once again. Our goal is to provide an express menu of BBQ and fried products to a customer base that desires a fast carryout selection. We market to individuals who prefer a quality meal but rarely have the time to cook or prepare a dinner.  

SIDES to Go! BBQ is looking to borrow up to $50,000 at 12.75% over 60 months. Anyone who is over 18 years old can invest.
 



About SIDES to Go! BBQ

SIDES to go! BBQ is a unique, southern-style eatery. The BBQ, Cajun, and fried products have the flavor that customers will savor. The restaurant has a loyal customer base with frequent inquiries as to "when are you re-opening??" The location is next door to daycare center, grade school, a-mile-and-a-half from a 24-hour casino, not to mention a substantial apartment population, bedroom community and industrial complexes. The customer base is significant. There are less than five eateries within two miles of our restaurant location. Sides to Go will be the only local restaurant providing this type of desired cuisine where more than 30,000 vehicles travel on Northfield Road on a daily basis.

We obtained the Limited Liability Corporation status May 25, 2012. We initially started as public relations firm but diversified when the opportunity occurred, in 2015, to enter the mobile food truck industry. Our business later evolved into a brick and mortar fast casual restaurant.

Currently, Holbert Enterprises LLC operates the fast-casual restaurant. In 2017, we served more than 20 thousand customers within four months and our following increased from there. We have a loyal customer base on social networking platforms and also provide catering and food truck service for our guest. Our customer base includes patrons 25 years and older; average household income of $30,000 or more. The cuisine is enjoyed by diverse populations; our location at 55 Northfield Road in Bedford, Ohio is situated near a bedroom community, among apartment dwellers and where industrial workers seek lunch and evening meals.

The price-point for most items is below $10.00 making our offerings affordable for the demographics. We intend to solidify the customer base; employ a hospitable workforce, and position our business as a community-friendly asset in Bedford, Ohio which is situated in Cuyahoga County and roughly to miles from the Summit County border. 
 



Fast Facts

  • Ben Holbert is known as the “Newsman”, a long-time Cleveland TV News Reporter
  • Four Time Emmy Award Winner
  • Winner of Urban League Pitch Contest November 2016
  • Finalist – Cleveland’s Best BBQ Cleveland.com July 2018
  • SIDES to go! BBQ employs 15 people
  • SIDES to go! served 10,000 customers within 3 months of opening
  • Serves BBQ, Cajun, and Vegan meals
  • Restaurant, food truck, and catering service
  • 12.75% interest rate


The Project

We need to satisfy equipment requirements specified by the Bedford Building Commissioner. The landlord believes the building meets the specifications but without an occupancy permit from the city we cannot operate. Our goal is to secure the funding through Honeycomb, make the investment, and recover by providing a superior product to our customer base.

We are looking to get some electrical and mechanical equipment, including $20000 for an Ansul suppression hood; $10000 for installation and build out; $10000 to pay off debt and acquire initial inventory as well as small wares and custom equipment; $3000 for working capital, city and board of health fees, and contingency funds.


About the Owner

Ben is known in Cleveland as a popular television news reporter. He worked at the NBC and CBS affiliate stations winning four EMMY awards for his journalism.  In 2014, he partnered with Executive Chef Claude Booker to present a southern-styled BBQ cuisine.

In 2015, Holbert opened a food truck and expanded to the brick-and-mortar SIDES to go restaurant in Maple Heights in 2017. The Bedford location will provide express carryout service and feature the mobile food truck.

Ben earned an MBA in 2012 and has a communications degree from Kent State University. He served as the president of Omega Psi Phi fraternity, Zeta Omega graduate chapter in Cleveland and Interim Chief Communications Officer for the Cleveland Metropolitan School District. Ben was inducted into the Hall of Distinction at Benedictine High School in 2012.  In August 2019, he provided the commencement address to Bachelor and Masters candidates at Kent State University. The title of his presentation, “Money, Mentorship, and Memories.”


 

Owner Benjamin Holbert as a television reporter.


Deal Summary

Issuer

  Holbert Enterprises LLC

Security Type

  Secured Loan

Loan Purpose

  Purchase of equipment and other startup costs

Offering Amount

  $40,000 - $50,000

Interest Rate

  12.75%

Payments

  Monthly, Disbursed to Investors Quarterly

Maturity

  6 months interest-only, 54 months fully amortizing 

Personal Guaranty  

  Benjamin Holbert

Security Interest

  Equipment to be purchased

 


Your Earnings Potential

If you choose to invest, you will make a one-time investment via ACH that will be transferred to a secure escrow account. If the campaign successfully reaches its target, the funds will be distributed to Holbert Enterprises LLC.

For more information on the mechanics of Honeycomb’s crowd investing platform, please review our Education Materials.

Investment Amount One-Time Fee Potential Quarterly Returns* (Interest Only Period) Potential Quarterly Returns* (Amortizing Period) Potential Total Repayment*
$100 $2.85 $3.19 $7.33 $138.31
$500 $14.25 $15.94 $36.65 $691.53
$1,000 $28.50 $31.88 $73.30 $1,383.07
$5,000 $37.25 $159.38 $366.48 $6,915.34

*Individual payments may vary slightly based on rounding. Potential repayments include principal and interest, they do not include the one-time fee which is assessed when you make your investment. These amounts are calculated as a fully amortizing loan: principal and interest are paid down starting with the first payment. There are no prepayment penalties and Holbert Enterprises LLC. may pay down their loan early which may impact your earnings potential. Please note, returns are not guaranteed and investors could lose some or all of their investment.

Your ongoing responsibilities from investing are very limited. Each year over the life of the loan you will receive a 1099-INT, this is a simple tax document similar to what you receive for most savings accounts.

Holbert Enterprises LLC pays as agreed, you will receive quarterly payments directly into your bank account. In the event of a default, you will be contacted by the Administrative Agent to manage the collections process on investors' behalf.

 


How Honeycomb is Compensated

Honeycomb charges Holbert Enterprises LLC a $250 posting fee and a 7.0% loan origination fee on the total amount funded.

Additionally, to cover expenses associated with each investment, Honeycomb charges a 2.85% investment fee capped at $37.25 per investor.

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