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Ohio

222 Cold Brew Specialty Drinks

About Documents
8%
$1,550 Funded
$20,000 Target
11 days Time Left
7 Investors
$20,000 Min. Raise
$30,000 Max. Raise
60 mo. Term Length
9.75% Interest Rate
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Overview

I am a Food Service Supervisor at one of the major hospitals in Cleveland. Prior to my current position, I cooked as a sous chef in a major hospital system in Texas. When I moved back to Cleveland and applied for cook positions I was always offered a supervisory/management position because of my experience and qualifications. It took me further away from being creative in food service, and this venture is a way to explore creativity with culinary arts.

My customers are the young student who wants a different type of dessert, the mom who wants to spend quality time with herself as her "me" moment, the grandparents who want to give their grandchildren a spoiled sugar rush before they send them home, the blue collar worker who didn't have time to make a quick breakfast on the way to work, the retired couple who just want to talk about the good old days. 

They will buy from us signature cereal shakes named after well-known streets in the city of Euclid as well as the Euclid/Green area where I grew up in. We will offer cereal shakes, cereal in a cup, cereal in a bowl, cereal sundaes where customers will have the option of building their own cereal creation with over 75 different cereals and counting, choice of toppings, along with dairy and non-dairy milk. We will also offer cold brew coffees, teas, hot chocolate, shave ice, smoothies, slushies and other specialty drinks.

We are raising $30,000 at an interest rate of 9.75%, paid over a six-month interest-only period and a 54 month fully amortizing period.

 

A classic chocolate shake.

 

The Project

Equipment $8000
Supplies $2500
Product $2000
Expenses (6 months) $7800 
Hiring Employee $2400
License/Permit $900

With this raise, I will be able to be physically open, and I will be able to offer customers a product that is not currently offered in the neighborhood. These items will allow me to open, hire others, and then give back to the community.

 

We renovated our space and we're ready to go!

Business

History

The history behind my business during COVID-19 has been something that I could never imagine.

I started 2020 with the intention of opening by July 2020, but due to delays and shutdowns, I have not been able to get it open. I have exhausted all of my personal funds and continue to use my full-time paycheck to pay the expenses at the shop, which leaves nothing at the end of the month to really put towards opening on my own.

I hope to show others that, at no matter what age in life, if you have a dream to service a product that will make people smile and bring back old school memories of their childhood through cereal or whatever your passion is, do it!

 

We try to bring back childhood memories with our shakes.

 

The Future

The future of 222 Cold Brew in year 1 is to hire 1-3 employees – likely students or retirees from the community looking to work a few hours a day. Our goal for years 1-2 is to grow the profit margin, and in year 2-3 to purchase a food truck and have another store location within the Cleveland area.

 

Come try our cold brew!

 

About the Owner

Robyn Fossen

In 2009 I had a small baking business, with which I would bake cookies, cakes and pies for friends and family. I enjoyed doing this especially during the holidays. I was always asked to bring the dessert and I would add my own twist to it. After my divorce in 2012 I moved to Texas, where I met my current husband and told him I wanted to go to culinary school. With his support and the Creator’s blessing, I attended LeCordon Bleu College of Culinary Arts in Dallas, Texas. 

Fast forward, I moved back to Ohio in 2016, still with the desire to start a business. After researching what would be best for us, we decided on shave ice. Our initial plan was to start a food truck. Due to financing and other factors, we decided on a store front. That was January of 2020. Thinking down the line, we wanted something more feasible during the winter months. After researching and looking into what would be able to sustain during that time, specialty drinks was the idea I came up with and after deciding that was going to be the main idea for the shop, 222 Cold Brew was born.

My husband enjoys cooking as well. He is my support and my helper and his goal and happiness is to see me bring my dream to life. He is my biggest fan and he is here to help me in any way that he can.

I am a nana with 3 grandboys, ages 13, 9 and 5.

 

Help us open 222 Cold Brew in 2021!

Deal Summary

Deal Summary

 Issuer

 RC Waterfall LLC

 Doing Business As

 222 Cold Brew Specialty Drinks and Cereal Bar

 Security Type

 Secured Loan

 Loan Purpose

 Startup costs + equipment

 Offering Amount

 $20,000 - $30,000

 Interest Rate

 9.75% annually

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 6 months interest only + 54 months fully amortizing 

 Personal Guaranty  

 Robyn Fossen

 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 RC Waterfall 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 RC Waterfall 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.

RC Waterfall 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 RC Waterfall LLC a $250 posting fee and an 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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