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Ohio

GO Buddha

About Documents
133%
$23,850 Funded
$18,000 Target
Closed Time Left
33 Investors
$18,000 Min. Raise
$50,000 Max. Raise
36 mo. Term Length
13.0% Interest Rate
Closed

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Introduction

GO Buddha is a new philosophy on eating. It's about food that loves you back, specifically crafted with ingredients that increase the bio-availability of their nutrient uptake. That means you get more of the good stuff. Using the Buddha Bowl template of grains, greens, and beans, GO Buddha has created a core menu of hearty bowls and salads to help elevate your weekly nutrition. Conveniently delivered in a plastic-free compostable package with zero carbon footprint, GO Buddha is Cleveland’s way to eat happily and responsibly.

Founded in 2019, we are a young company looking for such startup costs as working capital, labor, advertising, permits and licensing, inventory, kitchen retrofitting, and retail meal development.

We are looking to borrow up to $50,000 at an interest rate of 13.00% over a 36 month term.


All the packaging is fully compostable, with no plastic and zero carbon footprint.


About GO Buddha

In today's world, the Standard American Diet (S.A.D) is severely deficient in whole plant-based foods. This deficiency has led our country into an epidemic of chronic disease. Many of these diseases can be cured though through diet and lifestyle changes. The human body is designed to regenerate, but without the nutrients to do so it can't. Try GO Buddha Meals and learn what it's like to Eat Happiness.



During a recent speaking engagement with the Center for Functional Medicine at the Cleveland Clinic, the topic of accessible, fully prepared meals came up in order to nourish our community. The challenge was to create a meal program that could be affordable to anyone's budget. GO Buddha Meals was then born, dedicated to creating affordable plant-based meals for just $10.



The name itself lends a hint into the direction that this company will go. Currently we are building brand awareness and a family of happy eaters through our weekly meal prep service. We've established accounts on Uber Eats, Post Mates, and Door Dash to help GO Buddha increase its accessibility in phase two, which will be starting at the beginning of 2020. The third part to the future of GO Buddha Meals is retail distribution from our current shared commissary kitchen to retail food outlets across the city.


As seen on Uber Eats.


Plant-based foods have seen over a 300% increase in sales over the last two years and are still trending up. Industry-leading meat companies such as Tyson have become principal investors in plant-based companies like Beyond Meat which tells you that this is more than just a trend. In today's world, we are busier than ever and spending less time in the kitchen preparing healthy meals. GO Buddha Meals is entering into this market at the perfect time, providing both the solution for nutrition and the convenience of accessibility for any budget or lifestyle.


Fast Facts

  • Vegan, gluten free, and dairy free

  • Functional Medicine Friendly

  • 100% compostable plant-based packaging with 0 carbon footprint

  • Featured in Food Management magazine

  • Certified Chef Inspired

  • Debt-free business

  • Sales projection of $169,004 in 2020 and $252,720 in 2021


 


The Project

Funds raised will be used to employ more brand ambassadors to help market products, retail meal development and equipment to help scale current food production.

Like with any start up, time is the most valuable resource beyond money. With over a decade of experience managing professional sports venues, Chef Josh has the ability to reduce the amount of time it will take for this brand to grow. Utilizing the capital immediately will reach more happy eaters and increase of our market share of the plant-based food trend. This project is perfect for us as our original intent is to nourish our community. For our community to have the opportunity to invest and earn off this impact project makes the Honeycomb campaign a perfect fit.


With two part-time employees, GO Buddha needs more capital to expand.


About the Owner

Chef Joshua Ingraham was recently named "The Face of Fitness for Chefs" on thisiscleveland.com, a finalist for the Men's Heath Ultimate Guy Contest and athlete on The Rock's new TV show The Titan Games! Chef Ingraham has been featured in Food Management Magazine, Crain's Cleveland, Men's Health, Dining with Dermish, and as the Local Celebrity Chef for the 2017 GetFitExpo. Competing in Chef Roll's Chef's Plate 8 earned him a chance to represent Ohio in the World Food Championships. Chef Josh's functional food has become the catalyst to athletes achieving better performance. While perfecting his cuisine he was able to shed 30 lbs in 200 days to win $10k and a Pro Sponsorship from Blue Star Nutraceuticals.


Chef Josh with his two children.


Deal Summary

Issuer

  GO Buddha LLC

Security Type

  Secured Loan

Loan Purpose

  Purchase of equipment and other startup costs

Offering Amount

  $18,000 - $50,000

Interest Rate

  13.00%

Payments

  Monthly, Disbursed to Investors Quarterly

Maturity

  36  

Personal Guaranty  

    Joshua Ingraham

Security Interest

    Blanket lien


Financial Projections

The new business, Go Buddha, founded by experienced executive chef Joshua Ingraham expects to scale its food operations and distribution in 2020. For its 1st year, the business projects revenue of $169k with a net margin of 15%. As their retail and distribution channels grow, they expect to grow their revenue by 40% year-over-year.
 

In addition to a blanket lien on the assets of the business, the Go Buddha offering is supported by the personal guaranty of its owner, Joshua Ingraham.

For more details about the financials of the business please review the Company's Form C located on the "Investor Info" tab.


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 GO Buddha 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* Potential Total Repayment*
$100 $2.85 $10.10 $121.29
$500 $14.25 $50.40 $606.49
$1,000 $28.50 $101.80 $1,212.98
$5,000 $37.25 $505.40 $6,064.91

*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 GO Buddha 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.

GO Buddha 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 GO Buddha LLC a $250 posting fee and a 7.0% loan origination fee on the total amount funded.

Total Amount Raised Origination Fee
$25,000 - $50,000 7.0%

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

Like what you see?  Check out our other campaigns here!

View our
Offering Documents

Updates

Comments

Q & A

+ Hi, I have a couple questions 1) is the 13% interest rate per year? 2) is that payable monthly 3) When would payments start? Would it be on funding completion? Thanks Hilario

HI Hilario thank you so much for your interest with our campaign! Here are the answers to your questions below. 1) is the 13% interest rate per year? Yes 2) is that payable monthly Yes, it payable monthly after the 45-day interim period following the close of the campaign. The repayments are distributed to investors quarterly. 3) When would payments start? Would it be on funding completion? Payments start 45-days after the campaign closes.

+ To whom it may concern, What is the overall vision of this company in regards to expansion? After the goal is completed.. do you plan to stay a local business?

This is a great question and thank you for asking. If you look at our current model we are offering local delivery and free pick up options. The goal of this company is to stay true to our affordable roots while creating the smallest footprint possible. This being said we will not be shipping through the mail and instead will continue to focus on the families within the North East Ohio region first before we look to expand further into the market. GO Buddha Meals was created as a solution to an identified problem within the gap in today's accessibility of whole food. The market just in North East Ohio reaches multiple demographics in excess of 400, 000 people. Our growth strategy will continue to pursue those individuals and their network of family and friends to enhance the environment of the identified individual. Eventually once we have secured a strong hold on the Cleveland market by becoming the most affordable meal service in the area we will use the success of this model to replicate and expand quicker in other markets.

+ can not enter date of birth, chart stops at 1930, mine is 1928.

Hi John! Simply put your birth year as 1930, and we will make the change on our end. Thanks! -Becca from Honeycomb