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Cleveland

UnBar Cafe

About Documents
10%
$1,000 Funded
$10,000 Target
30 days Time Left
8 Investors
$10,000 Min. Raise
$35,000 Max. Raise
36 mo. Term Length
10.5% Interest Rate
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 Introduction

The name UnBAR embodies the concept that fun and socializing does not have to equate to alcohol consumption. We support the new normal of alcohol-free socializing via the “well-being” café model. At UnBAR, every product, activity, or service contributes to enriching the lives of the patrons. We provide a physical location for social connection and wellness education. It is known as the Think Better. Feel Better. Be Better. place; a tagline focused on the importance of Mind, Body, and Soul alignment.

We are looking to borrow up to $35,000. The annual interest rate includes a 3.75% interest-only period followed by a 30-month fully amortizing period repaying at 10.50% interest rate.


We support the new normal of alcohol-free socializing.


How You'll Help During COVID-19

The funds we raise will be used for Working Capital during and post the COVID-19 stay-at-home order. The specifics are as follows.

Six months of rent and utilities to allow sales ramp up: $12,945

Expand our food inventory to include greater to-go items: $3000

Purchase additional food prep tools and equipment to support expanded menu: $6500

Implement online ordering service and update website to support a user-friendly ecommerce: $3800

Boost marketing and customer loyalty programs to re-engage customer base $1500 and customer loyalty discount accruals: $950

Hire one part-time 6-month employee to support food prep and curbside operations: $6,050


One of our beverages: an affogato.

Business

About UnBAR Café

The vision of UnBAR Café is to provide an atmosphere where anyone can visit, enjoy a quality beverage and tasty quick bite, make connections, experience personal development, solve a problem, enjoy the quiet in a crowded room, network, or be quiet with their own thoughts.

The vibe is a collective consciousness of well-being. Patrons entering will receive a virtual hug as the service staff strives to inspire a familial connection. There is a deliberate effort to maintain a positive environment to invoke a state of emotional wellness in our clients.


We serve fresh food, coffee, smoothies, teas, and more.


UnBAR Cafe is owned by Melissa Hirsch (formerly Garrett), who has a collective 30 years of experience in business development as well as performance and operations management within the Financial Services and Consumer Product industries. The business is operated and co-managed by her son Rorry Garrett II and her husband, Roderick Hirsch, Jr.

After 30 years of executive level work with major companies in the Cleveland area, Melissa leveraged her savings, investing in a proven business concept within an up-and-coming neighborhood on the east side of Cleveland. The location is in the heart of a well-traveled area of town, with strong foot, residential and professional traffic. The café serves the finest in single origin varietal coffee, espresso-style coffee drinks, and a large assortment of fine loose teas. Fresh-made smoothies, frappes, natural soda-style drinks, and a variety of infused water flavors are also featured. Food consist of healthy packaged snacks, upscale baked goods, and light breakfast and lunch fare.


Our menu is friendly to vegan, vegetarian, and gluten-free diets.


The business occupies approximately 2900 square feet of an eclectic modern designed space. The location provides excellent accessibility from any part of town, and parking is readily available on and around the property.

To date, Melissa has invested over $200K of her own monies to fund initial startup costs which includes leasehold improvements, equipment purchases, and soft cost. The funds raised as part of this campaign will be used for working capital focused on increasing foot traffic to UnBAR in three categories:

1) Connect with community interests with initiatives such as wellness classes, dance lessons, and entertainment and training events––both paid and free of charge.

2) Extend the food menu to include greater food options catering to vegan, vegetarian, and gluten-free diets, as well as launch a campaign around our private-label bottled alkaline water.

3) Differentiate and establish our evening vibe by rolling out our non-alcohol drink menu which includes an assortment of sophisticated and healthy ingredient zero-proof cocktails and beers.


Our vibe is a collective consciousness of well-being.


Why We Stand Out

The cafe was built with the help and assistance of Cafe Construction Company (CCCI) of Wyomissing, PA. CCCI is a 25-year-old company that assists and trains customers in building and running coffee businesses. To date, they have helped build over 100 coffee cafes across the country, many of which have won a "Best Coffee House" recognition along with other community awards. The president of Cafe Construction Company, Scott Bortz, also owns and operates a coffee buying co-op which licenses the Hard Bean name, coffee, and logo products, as well as the expert operating systems that have made prior cafes so successful.


We serve single-origin varietal coffee and many coffee-based beverages.


We would like to thank you for considering an investment in the UnBAR Café community and the new normal model of socialization with an emphasis on wellness and personal development. As a community staple, we have a diverse agenda to improve connectivity amongst millennials, host a playdate spot for moms, provide a second creative work space, and embody a safe for seniors combating the growing epidemic of loneliness. Yes, this is all possible just by starting with a cup of coffee!


Try one of our bubble teas or smoothies!


Fast Facts

  • Total operating costs covered within the first 90 days of operation
  • Alcohol-free establishment
  • Opened in 2020
  • Vegan, vegetarian, and gluten-free friendly
  • Brought to life with help from the Cafe Construction Company (CCCI)

Buy a reusable bottle with our alkaline water!


About the Owner

UnBAR Cafe is owned by Melissa Hirsch (formerly Garrett) who has a collective 30 years of experience in business development, performance and operations management within Financial Services and Consumer Product industries.


The owner, Melissa Hirsch.

Deal Summary

Summary

Issuer

  UnBar Cafe Inc

Security Type

  Secured loan

Loan Purpose

 Working capital during the COVID-19 pandemic

Offering Amount

  $10,000 - $35,000

Interest Rate

  3.75% interest-only (first 6 months),

  10.50% amortizing period (last 30 months)

Payments

  Monthly, disbursed to investors quarterly

Maturity

  6 months interst only + 30 months amortizing

Personal Guaranty  

 Melissa M. Garrett

Security Interest

 Blanket Lien


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 UnBar Cafe Inc.

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

Investment Amount One-Time Fee

Potential Quarterly

Return: Interest-Only Period*

Potential Quarterly

Return: Amortization Period*

Potential Total Repayment*
$100 $1.40 $0.93 $10.93 $116.01
$500 $7.00 $4.68 $11.41 $580.04
$1,000 $14.00 $9.38 $114.13 $1,160.08
$5,000 $37.25 $46.87 $570.66 $5,800.40

*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 hybrid interest-only + amortizing loan, which means that there is a specified interest-only period followed by a an amortization period. There are no prepayment penalties and UnBar Cafe Inc 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. Over the life of the loan, you will receive a yearly 1099-INT, which is a simple tax document similar to what you receive for most savings accounts.

UnBar Cafe Inc 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 the investors' behalf.


How Honeycomb is Compensated

Honeycomb charges UnBar Cafe Inc a $100 posting fee and a 6.0% loan origination fee on the total amount funded.

Additionally, to cover expenses associated with each investment, Honeycomb charges a 1.40% investment fee capped at $37.25 per investor.

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