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Pennsylvania

Black Cat Market

About Documents
167%
$25,000 Funded
$15,000 Target
Closed Time Left
64 Investors
$15,000 Min. Raise
$25,000 Max. Raise
36 mo. Term Length
10.0% Interest Rate
Closed

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Overview

The Black Cat Market is a cat cafe. This is a niche business where people can buy coffee, tea, and other coffee shop beverages and also spend time with adoptable cats.

Our customers are typically people who really love cats. We get a good mix of folks who already have pet cats, folks hoping to adopt, and people who can't currently own cats but want to get some quality pet time. Since we are located in Pittsburgh, which has a fairly large college population, we find a lot of our customers tend to be college students who cannot have cats in their dorms and are looking for a relaxed group activity.

We charge a $5 fee per person for a half hour in the cat room. Guests can also purchase beverages and baked goods to bring into the cat room with them, or to-go. We also stock merchandise with our logo on it, such as t-shirts and mugs. We also sell other odds and ends like cat toys, decorations, jewelry, often from local artists.

Prior to COVID-19, The Black Cat Market also held community events such as poetry nights, art shows, crafting events, board game nights and more. These were very popular and we hope to be able to organize them again in the future once the virus is under control, or in a way that is appropriate according to COVID-19 safety guidelines.

We are raising $25,000, paid over a 36 month period at an interest rate of 10.00% annually.

 

Sylvester welcomes you to our campaign page!

 

The Project

$4000 Espresso Machine
$3500 Coffee Bar Supplies
$3000 Additional Employees
$1500 Refrigerator
$9000 Rent and Utilities for about 3 months
$2000 Decor and Additional Seating
$2000 Merchandise (Shirts, Mugs, Etc)

Through our Honeycomb loan, The Black Cat Market will be able to complete the preparations for our coffee bar. This is something we've been working on for several years, with many obstacles preventing us from doing so. We are eager and excited to provide the community with delicious coffee beverages!

The additional profits from the coffee bar will help us thrive and continue our mission of finding homes for adoptable cats. We will also be able to connect more with the local community by becoming a neighborhood coffee shop where folks can socialize safely and comfortably, enjoy local art and merchandise, and of course get some quality cat time.
 

With the perfect location in Garfield, we are becoming a fully-fledge cat cafe!

Business

History

We began brainstorming the original concept for The Black Cat Market in 2016. While browsing through local cat rescue sites and musing over what our futures looked like, an article about cat cafes popped up. After joking about opening one, we sat down and realized it could actually be done with our powers combined. Two years later, after much planning and preparation, The Black Cat Market's doors opened in the Lawrenceville neighborhood of Pittsburgh.

At this point in time, The Black Cat Market has helped adopt out over 220 cats. We are proud to provide a comfortable, safe, and happy temporary home for these adoptable cats while introducing them to their potential families.

In 2020, we moved the cafe location to the neighborhood of Garfield. This new location allows us to provide the cats with a larger and improved room, as well as the ability to have a full service coffee bar. We are excited to move on to this next step!

 

We are proud to have adopted out over 220 cats!

 

The Future

Planning the next few years is a bit difficult due to the uncertainty of COVID-19 restrictions. However, we definitely plan to complete and run our full-service coffee bar, and continue finding homes for adoptable cats.

Currently, we are only able to sell bottled and canned beverages. This has been the case for the last two years, as we faced many obstacles completing a full-service coffee bar. Now we are in the perfect location to make this a reality.

Once COVID-19 is under control and it is safe to do so, we are eager to start up our events again. Our slogan is Cats, Community, Coffee, and it's been very difficult during these times to be the community space we strive to be. Hopefully within the next year, we will be able to hold poetry and art events, board game nights, and local craft fairs safely. We have the perfect space to hold the events and bring the community back together, so we are excited to make it happen.

 

Best friends Bo and Edith were adopted together!

 

Fast Facts

The Black Cat Market has placed in several categories in Pittsburgh City Paper's Best Of PGH contest the past two years, including First Place for “Best Women-Owned Business” and Third Place for “Best Local Pet Store” in 2020, and Second Place for "Best Local Pet Store" and Third place for "Best Place to Buy Yourself Happiness" in 2019.

At the time of writing this, we have helped adopt out 230 cats in a little over two years! This accounts for about 1/3 of our partner rescue's adoptions.

The Black Cat Market has even adopted a cat to a celebrity! In May of 2020, Pixel was adopted by Leah Van Dale (AKA Carmella), a WWE Superstar!

 

Come and play with us!

 

About the Owners

Olivia is from rural southwestern Pennsylvania and was raised with a love for animals. From kindergarten through elementary school, she wanted to be a veterinarian or the Crocodile Hunter. While neither of those things ended up happening, something just as amazing did: she opened a cat cafe! In 2016 she teamed up with her best friend and now business partner, Indigo Baloch, to research and create a business plan for a successful cat cafe. Inspired by her mother, who opened her own small business six years ago, The Black Cat Market opened its doors in 2018.

Indigo is a 2017 graduate of Chatham University where she double majored in Communications and Creative Writing with certificates in Asian Studies and Women’s Leadership. Having worked in the cafe industry for quite a while and having studied abroad in Taiwan and Japan, she was inspired by the idea of cat cafes. With volunteer experience at animal rescues and community spaces, she built a plan with her best friend, Olivia, to make this dream a reality! Indigo grew up with cats her whole life and wanted to build a safe community space that could also help find homes for cats in need. When the cafe first opened in 2018 she focused her efforts and skills on organizing events for the space such as a monthly sexual assault survivors support group, poetry readings, open mics, and markets for local artists and vendors. While that is largely on hold right now, during the pandemic, she can’t wait to dive back in and use the new, larger storefront for even more community-based work.

 

Owners Olivia, L, and Indigo, R.

Deal Summary

Deal Summary

 Issuer

 The Black Cat Market LLC

 Doing Business As

 The Black Cat Market

 Security Type

 Secured Loan

 Loan Purpose

 Purchase equipment

 Offering Amount

 $15,000 - $25,000

 Interest Rate

 10.00% annually

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 36 months

 Personal Guaranty  

 Olivia Ciotoli and Indigo Baloch

 Security Interest

 Blanket lien on assets of the 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 The Black Cat Market 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: Amortization Period* 

 Potential Total Repayment* 
 $100  $2.85   $9.68   $116.16
 $500  $14.25   $48.40   $580.80
 $1,000  $28.50   $96.80   $1,161.61
 $5,000  $37.25   $484.00   $5,808.09

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 The Black Cat Market 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.

The Black Cat Market 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 The Black Cat Market 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.

Like what you see?  Check out our other campaigns here

 

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