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Cleveland

Peer Pantry

About Documents
41%
$10,225 Funded
$25,000 Target
9 days Time Left
21 Investors
$10,000 Min. Raise
$25,000 Max. Raise
42 mo. Term Length
12.75% Interest Rate
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Overview

Peer Pantry is a health & wellness alternative products and services brand that offers healthier alternatives for custom meal prep and sauces that are gluten-free, soy-free, and also focused on most dietary restrictions.

On this journey, Marcus learned many students were consuming foods and/or food products that were nutrient deficient and not conducive to the health of the body. He sought this opportunity to provide free food education workshops to the schools he serviced to educate youth, parents and school officials to develop solutions. He has been an advocate for social change, while understanding the impact that food has played in his ability to teach and learn good interpersonal and communication skills. In addition to his work with Cuyahoga Community College, Marcus worked as an Assistant Education Director at Shaker Heights Youth Center and was most recently the Men’s Varsity Basketball coach at Martin Luther King Jr. High School in Cleveland Ohio. 

Peer Pantry is raising $25,000 at a 12.75% interest rate, paid over a 42 month term. The campaign ends on July 20, 2020 at 11:59pm.

 

We offer a variety of sauces.

 

The Project

The funds will be used in the following ways:

  • Tradeshows $7,000-$10,000 
  • Inventory Purchasing $ 5,000-$7000 
  • Remaining funds would be used for liquid capital and cash flow flexibility.

Once funded, we will be able to become more competitive on a regional level, and we will have consistently shown revenue growth and demand in areas outside of Greater Cleveland. We understand that the health and wellness need of the consumer is the most important goal to achieve, while remaining true to our founding principles.
The opportunity for perspective investors and customers to see our brand on a broader scale is a great opportunity for us to increase our revenue much faster, but also build long-term brand awareness. 

 

We do meal prep and educate others on how to do so as well.  

  

Business

Past, Present, and Future

In 2017, Marcus founded Peer Pantry. Established in Cleveland, Ohio, Peer Pantry is a health and wellness alternative products and services brand. The mission of Peer Pantry is to show consumers how realistic and affordable changes in their diet can improve learning and health. 

In Marcus’ own experience, adopting a "clean-eating" diet free of dairy, gluten, soy, and grains revolutionized his health and increased his daily productivity. In only two years, he lost approximately 100 pounds, and now is able to give others the opportunity to do so as well.

It is our goal to expand our ability in both retail and food service. 

We anticipate being able to achieve these goals through trade shows, product marketing and product education & awareness. We would like to see company revenue of 50 percent achieved from food service sales by the end of 2021.

 

Our sauces are 100% plant-based!

 

Why We Stand Out

We are in an emerging market that shows consistent growth for all age groups. What we offer is the opportunity to be a part of something different and distinguishable from other retail sauces, in that we focus on those who prioritize creative brands who emphasize creativity, taste, quality, dietary restrictions and variety with an emphasis on reshaping the condiment sector of retail through healthier alternatives. 

 

 

Fast Facts

  • 100 percent self-funded 
  • Products are in stores and used by restaurants 
  • Products are available in Cleveland Clinic wellness stores 
  • All plant-based ingredients 
  • Vegan-friendly
  • All soy-Free 
  • Gluten-Free 
  • Low in Sugar 
  • Only use extra virgin olive oil 

 

Pasta with zucchini noodles, kale, and tomatoes.

 

About the Owner

Marcus Coleman

After graduating from the University of Toledo with a Bachelor of Arts in Interdisciplinary Studies, Marcus earned two Master of Arts degrees in Organizational Management and Family and Community Education from Ashford University. After various careers working in the private-sector, Marcus pursued an opportunity in social services to fuel his passion for impacting the health and wellness of others. As an experienced educator, Marcus would secure roles with Cuyahoga Community College as a General Education Development Educator and Student Advisor. In these roles, he maximized his platform as an educator by breaking away from conventional educational methods to more robust and innovative forms of study. Marcus would implement lessons that featured food ingredient ratios, understanding nutrients and product labeling to providing class instruction on statistics, health information and analytics that would consistently engage the students on the importance of proper eating habits and how it could impact their academic or job performance. 

On this journey, Marcus learned many of the students were consuming foods and or/ food products that were nutrient deficient and not conducive to the health of the body. He sought this opportunity to provide free food education workshops to the schools he serviced to educate youth, parents and school officials to develop solutions. His ability to be both an advocate for social change, while understanding the impact that food has played in his ability to teach and learn good interpersonal and communication skills. In addition to his work with Cuyahoga Community College, Marcus worked as an Assistant Education Director at Shaker Heights Youth Center and was most recently the Men’s Varsity Basketball coach at Martin Luther King Jr. High School in Cleveland Ohio.

 

Founder Marcus Coleman.

Deal Summary

Summary

Issuer

 Peer Pantry LLC

Security Type

  Secured loan

Loan Purpose

  Inventory and marketing

Offering Amount

  $10,000 - $25,000

Interest Rate

  12.75%

Payments

  Monthly, disbursed to investors quarterly

Maturity

  42 months

Personal Guaranty  

  Sharon Murray and Marcus Coleman

Security Interest

  Blanket lien on assets of company

 

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 Peer Pantry 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 $8.89 $124.48
$500 $14.25 $44.46 $622.44
$1,000 $28.50 $88.92 $1,244.88
$5,000 $37.25 $444.60 $6,224.40

*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 fully amortizing loan: principal and interest are paid down starting with the first payment. There are no prepayment penalties and Peer Pantry 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.

Peer Pantry 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 Peer Pantry LLC a $250 posting fee and a 8.0% 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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Offering Documents

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