Gallery
Overview
We are a small family-operated takeout restaurant that provides a diamond in the rough in the Sharpsburg area with our authentic Caribbean spin. Our customers are from a mixed platform, with young and old folks from all different cultures and backgrounds coming to try us out.
We are raising $70,000 at an interest rate of 9.75%, paid over a 60 month term.
The Project
Lease/Down Payment $5,750
Equipment $12,000
Utilities $1,000
Inventory $6,000
Signage $3,000
Working Capital $40,000
Total $70,000
Funds would be used for a down payment on the new location, along with any equipment such as coolers, freezers, fryers, prep tables, utensils, and silverware for the kitchen. As we approach our maximum target, we could cover advertisement, payroll, inventory, takeout material, and any unforeseen expenses we may occur. The second location will bring more revenue but, more importantly, another food option for the people in the city, while also creating more jobs.
Our ideal location would be the Oakland neighborhood of Pittsburgh, but if for any reason that doesn’t work out, we would look into the Robinson area or the West End. Since the monthly cost varies in different parts of the city, the new location would depend on the amount of funds we raise.
The timeline to open would be roughly 30-60 days after funding. The operations would be like our normal operations: Tuesday-Saturday from 12-9, with Sunday-Monday off. This location would be called our Jerk Shack, where we would offer low maintenance meals available for grab and go. It would offer a smaller menu easy enough for a smaller employee base to run, and it would be walk-in only for at least the duration of the pandemic.
We're known for our jerk chicken and jerk shrimp!
Business
History
We used to exist as 3 Sisters Caribbean back in 2014-2015. That location closed due to building issues and we went mobile, doing a lot of catering, and food events in the summer. The demand was so high that it led us to get another brick and mortar location which we opened on July 6th, 2020. The response has been viral and the amount of foot traffic that was brought to the location was overwhelming, showing us we had something very special that people enjoy. We want to replicate that same scenario in a different area that currently has no Jamaican food option.
The Future
The future of the business is to solidify our position in the restaurant industry. Since we have a unique setup for takeout only, we are well-suited for success during the pandemic. Two locations should keep us busy but the vision is to potentially be a small franchise and be able to branch out to other states and bring our taste to different communities.
Rasta Pasta is one of our many vegan options!
About the Owners
Marline Siddo and Denise Josephs are the two sisters. They been making Jamaican dishes since they were 9 years old in Jamaica. They came to the United States to have a better shot at a normal life, and since then have used their skills to help make them income. Their sons – Michael Brown and Kwasi Prince – are part-owners as well and focus more on the operations side of the business.
Deal Summary
Deal Summary
|
Issuer |
2Sisters2Sons Co |
|
Doing Business As |
2Sisters2Sons Co |
|
Security Type |
Secured Loan |
|
Loan Purpose |
Open second location |
|
Offering Amount |
$50,000 - $70,000 |
|
Interest Rate |
9.75% |
|
Payments |
Monthly, disbursed to investors quarterly |
|
Maturity |
60 months |
|
Personal Guaranty |
Michael Brown and Kwasi Prince |
|
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 2Sisters2Sons Co.
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* |
Potential Total Repayment* |
| $100 | $2.85 | $6.33 | $126.74 |
| $500 | $14.25 | $31.68 | $633.72 |
| $1,000 | $28.50 | $63.37 | $1,267.45 |
| $5,000 | $37.25 | $316.86 | $6,337.27 |
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 2Sisters2Sons Co 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.
2Sisters2Sons Co 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 2Sisters2Sons Co a $250 posting fee and a 6.0% - 8.0% loan origination fee based 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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Comments
Q & A
Hello Naomi, we are already in the transition from the styrofoam containers to the black bottom clear top plastic containers for the new year. So to answer your question, yes we pledge to stop using them as we are already implementing them for our 3rd party delivery orders.
Hello, if we don't meet the minimum then no funding will occur.