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Ohio

Scoot! Cold Brew

About Documents
63%
$19,000 Funded
$30,000 Target
37 days Time Left
14 Investors
$30,000 Min. Raise
$107,000 Max. Raise
60 mo. Term Length
9.75% Interest Rate
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Overview

Scoot! Cold Brew is a cold brew coffee producer. Our cold brew is different from others as we brew our coffee with just a little bit of honey to reduce any lingering bitterness and acidic, sour notes that are common to other cold brews on the market.

We're different in that we sell our coffee in bulk and in reusable glass bottles to reduce waste. This reduces harm to the environment and saves both the business and customers time and money. Additionally, our coffee can replace the need for wasteful single-serve machines such as k-cups. You can enjoy cold brew hot or cold by simply using a frother. And our concentrate allows you to enjoy your coffee either black or as a latte, mocha, frap, or any other way you would as with an espresso.

Lastly, we're not just another coffee shop––we're a different kind of business. We believe business leaders have a responsibility to their community and the world. We must ensure we are not exhausting our resources but rather optimizing them, that we are taking steps toward a healthy living environment, and most importantly, making decisions that promote well-being for all.

We’re just getting started, but for us this means paying our employees a living wage, caring for them both physically and mentally, composting our single use products, and thinking of innovative ways to support the community. One example of this is through a cup discount. Rather than offering a cup discount that is insignificant, customers that bring in their own cup or used cups to be composted will be creating a fund that will be directed to local schools for supplies so teachers and families don’t have to pay for them out of pocket. This is just one small way we can make a big difference.
 

We are raising $107,000 at an interest rate of 9.75%, paid over a six-month interest-only period and a 54 month fully amortizing period.

 

We sell our cold brew in reusable glass bottles to reduce waste.

 

Perks

 $1,000   Scoot! beanie
 $2,500  Scoot! beanie + VIP mug
 $5,000  Scoot! beanie + VIP mug + bottle of cold brew or pound of coffee.*
 $10,000   All of the above + a Scoot! team meeting room named after you  with a plaque

*For non-locals, beans can be shipped but bottles cannot; however, if you wish to pay it forward, you may donate your monthly allotment to one random customer per month.

 

Our delivery truck is a fully restored 1964 Chevy Corvair Rampside.

 

The Project

Cold brew is a new coffee technology, so to speak. We have a big hurdle not just introducing our brand to the market but also in educating the public about the many ways cold brew can be consumed. Our number one priority is sales and marketing. We will hire a sales consultant to help implement our marketing strategy and broaden our reach. We have spent approximately $60k on building out our tasting room, purchasing a delivery truck, and buying supplies to scale our operation. An additional amount of $30k will be put towards building brand awareness and educating current coffee drinkers of the many uses of cold brew, and another $30k will be directed towards scaling our operation. This will include the purchase of larger commercial items such as kettles, grinders, frothers, and plumbing. All other funds raised will go to working capital and other expansion costs.

Funding will significantly improve our business as we will be able to consolidate our capital expenses resulting from the build-out over a manageable payback period. This period of time will allow us the ability to grow responsibly and our staff is balanced, being paid well and has necessary time off to promote well-being and increase positivity.

Additionally, we will be able to generate brand awareness through focus on marketing and sales efforts, increasing our customer base and educating the public about the benefits of cold brew. We will have the means necessary to scale appropriately with increased demand and ensure consistency.

 

We are scaling our operation and educating the public on cold brew!

 

 

Fast Facts

  • We opened our doors it the midst of a pandemic but remain strong and are dedicated to serving the public safely. 
  • Although we've only been open since July, we have already received the well-known "Best of CLE" award for our at-home cold brew mix-kits. 
  • We have been regarded as many as "the best cold brew they've ever had." 
  • Our delivery/coffee truck is a restored '64 Chevy Corvair Rampside. Its uniqueness brings joy to those who see out and about. 
  • We are the first cold brew company to sell concentrate and frothers that can be used to make hot cold brew latte's and mochas.
  • We are an invaluable resource to our community as we are the only coffee shop within miles.

 

We are regarded by many as the best cold brew they've ever had.

Business

History

Years ago, my wife saw cold brew coffee becoming a trend. Knowing my entrepreneurial spirit and how much I love coffee, she suggested I create my own cold brew company. Like most ideas in marriage, it took awhile but I eventually listened to her. In 2016, we started Scoot! in Seattle, WA in our garage as a way to gain independence and create something of our own. However, after my wife's lifelong dream of becoming a JAG officer in the Coast Guard became a reality, she was assigned to Cleveland. We moved our operation and decided to go all in and post up a brick and mortar tasting room, making Cleveland our home base.

In that time, we have come to realize that our mission is more than serving good coffee; we realized the impact we can have on the community. Small actions, such as using the cup discount for schools or taking care of our staff and increasing their happiness, can have a big impact, rippling out into the community. Small gestures every now and then like surprising customers with a free coffee will increase joy and that will be reflected to others.

 

We love bring the joy of cold brew to others!

 

The Future

In the next year, we aim to build awareness, increase our customer base, and adjust to high-level output. The Cudell community is under development and growing quickly. We will be able to harness this growth, such the newly built Amazon distribution center across the street, and provide service as we are the only coffee in the area.

As we continue to stabilize, in the following 2-3 years, our goal is to purchase the property we are leasing and turn it into our headquarters. This property is very large and is not just an abundant space for retail and warehouse, but also has a large yard. This space will allow us to do large scale roasting, brewing, and bottling which we can open to the public. This space will also afford us the opportunity to host other local small businesses and create a market for local artists and artisans as well as host large events and fundraisers that can give back to the community.

 

Employee happiness is very important to us – we pay a living wage and provide an awesome environment for them.
 

 

 

About the Owner

Kari DeGraff (L) and her wife Abby

I am a University of Washington MBA graduate and the first generation of my family to be college educated. I served in the military so I could develop a skill and obtain an education and have been climbing my way up ever since. I have fought to get ahead, rebelling against stereotypes as a female in the armed forces, fighting from blue collar as a welder on the production line to white collar as an HR Coordinator in the corporate office. I do things people say can’t be done, I continue to overcome obstacles and break boundaries.

I have over 20 years of experience in a variety of fields, however, the quality that separates me from others is grit. Uninformed optimism draws in countless entrepreneurs, chasing their dreams. However, once reality sets in and you hit wall after wall, you realize grit is critical. I have been there, I have navigated countless walls, stepping toward my goal and fighting to see my dreams through. I bring a diverse set of real world experience - combined with persistence and grit.

 

Cold brew isn't always cold! We make hot lattes among many other beverages.

Deal Summary

Deal Summary

 Issuer

 Scoot Scoot Cold Brew LLC

 Doing Business As

 Scoot! Cold Brew

 Security Type

 Secured Loan

 Loan Purpose

 Open retail location 

 Offering Amount

  $30,000 - $107,000

 Interest Rate

 9.75%

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 6 months interest only + 54 months fully amortizing

 Personal Guaranty  

 Kari DeGraff

 Security Interest

 Blanket lien on assets of company 

 Offered Portal 

 Honeycomb Portal LLC

 Offering Type

 Reg CF

 

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 Scoot Scoot Cold Brew 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

 Return: Interest-Only Period* 

 Potential Quarterly

 Return: Amortization Period* 

 Potential Total Repayment* 
 $100  $2.85   $2.43   $6.89   $128.81
 $500  $14.25   $12.18   $34.43   $644.05
 $1,000  $28.50   $24.37   $68.85   $1,288.11
 $5,000  $37.25   $121.87   $344.27   $6,440.54

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.*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 Scoot Scoot Cold Brew 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.

Scoot Scoot Cold Brew 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 the investors' behalf.

 

How Honeycomb is Compensated

Honeycomb charges Scoot Scoot Cold Brew LLC a $250 posting fee and a 6.0%-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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