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Ohio

Pet Wants Chardon

About Documents
1%
$300 Funded
$40,000 Target
27 days Time Left
3 Investors
$40,000 Min. Raise
$175,000 Max. Raise
60 mo. Term Length
10.0% Interest Rate
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Overview

Pet Wants' primary product is our FRESH Pet Food. We locally produce our dog and cat food every 6 weeks FRESH! Our food stands out against the rest because it is not mass-produced and it does not go through a long distribution path. We chose a local, small pet food producer to bake our recipes at lower temperatures, and slowly cooked, to retain the highest nutrients possible. By providing fresh dog and cat food to our customers, we are providing the highest bioavailability in proteins and nutrients. We literally have the freshest kibble in town! For pet parents that are health conscious about what their pets are eating, this is a game-changer.

In addition to our pet food that provides the highest nutrients, we also take great pride in providing our signature single-ingredient treats, natural chews, housemade s'Paw products, and natural supplements. We focus on providing customers solutions to their pets’ needs. We feel we have a more holistic approach to pets' nutrition which gives us more of a competitive advantage over the other Big Box store pet retailers.

Pet Wants developed its concept of FRESH food delivered by the pound for free in Cincinnati, Ohio. As we are a small franchise network, each location is individually owned with our own individual business plans and management. We originally stepped into Pet Wants purchasing two territories in Northeast Ohio. Pet Wants Chardon opened its intimate 1,000 sq. ft. brick and mortar in October 2019 at 209 Center St, Chardon, Ohio 44024 with the expectation of owning 3 territories and expanding with multiple stores. We originally purchased 2 territories when opening in 2019. Pet Wants Chardon now currently owns 3 territories with one store.

We are very active in markets and events outside of our store and feel community involvement is key to our operations.

 

We are raising $175,000 with an annual return rate of 10% over a 60-month term.

 

Pet health starts with fresh foods and high bioavailability!


 

Project

Our funding request is to expand our business into our second brick-and-mortar location in our Solon territory, in addition to refinancing high-interest loans that were incurred when opening our first store in Chardon. The total raise for this growth project is $175,000.

Our original second territory is now being serviced through mobile-only. We are asking for $135,000 to open a second store in a very lucrative area within our Solon territory. This will include the franchise fee to upgrade from mobile territory to store $10,000, store furnishings $60,000, initial inventory $35,000, leasehold improvements $10,000, and operating expenses $20,000. The additional amount of $40,000 will be used to refinance 2 high-interest personal loans to increase the cash flow position.

 

Project Details:

Upgrades: $10,000

Store Furnishings: $60,000

Inventory: $35,000

Leasehold Improvements: $10,000

Operating Expenses: $20,000

Refinancing Debt: $40,000

 

Munster is looking forward to exploring his second 'digs'.


 

What makes us stand out?

Pet Wants was recognized and recently nominated in Entrepreneur’s Franchise 500® rating in 2020 and 2021. We are also recognized as #12 in top new franchises and #44 fastest growing franchises worldwide.
 

Pet Wants ensures the nutritional quality of your pet's daily nosh!

 

History

With the pet industry showing no signs of slowing down, this allows Pet Wants Chardon to capitalize on an evolving market in Northeast Ohio. Consumers are looking for better nutritional options for their pets' needs. As most of Northeast Ohio retail has not matured in the pet industry, this provided us an opportunity to grow in 2020 despite its current pandemic economic situation. Customers have not slowed down on their pets’ needs; in fact, this pandemic has only emphasized focus on their pets. Customers want other options than the average Big Box pet stores.

In Chardon’s surrounding area, our biggest competitor is Pet Supplies Plus and Tractor Supply. We rank ourselves above these retailers as our product offerings are superior. We have been quite successful at introducing the Pet Wants brand to the community and have retained hundreds of new customers through local traffic, events, local advertising and news, and referrals as we take pride in customer relationships and education.

In our original second territory, our biggest competitor is Pet Smart. As the area, we have found is away from the “big city”, we have far more opportunities to capitalize on new customers at an intimate level. With the upscale customers in this area, I feel that our offering will be greatly receptive and should have a fast start with the community. This particular area has recently sold hundreds of acres bringing in more residential homes and businesses.

Since the beginning, delivery has been and will continue to be part of Pet Wants exceptional service!


 

Business

The Future

While Pet Wants Chardon may reside in a brick-and-mortar location, we are very persistent in the market at different event opportunities when available. Our target events are anything from local farmer's markets to intimate community events and from holiday craft fairs to local dog events. We are also participating in large expo events which market to homeowners in and out of our territories. These events provide us an opportunity to share Pet Wants with customers face-to-face and allows us to begin to gain their trust. Our primary goal is to educate consumers on pet nutrition. The more people we meet, the sooner people know and love Pet Wants!

We plan to collaborate with rescue organizations, animal shelters, and local pet service suppliers including boarding facilities and groomers. Our goal is to provide our food as their house food in these environments.

As we recently purchased our third territory, our plan is to open our third store in 2022 to increase brand awareness and serve more local families. We even plan to put our store on wheels!

Healthy choices for your furbabies will be plentiful in our new store!

 

Location

Nestled in the 'burbs of Cleveland, the Solon area (Aurora, Bainbridge, and Solon) is our next stop. We plan to open our second brick-and-mortar in a convenient spot for city dwellers as well as folks in northeast Ohio. Our reach will not stop there. While this physical location will help us serve customers in person, we will continue to offer delivery to your doorstep!

Our current and future territories are well-situated between major hubs in northeastern Ohio.

 

About the Owners

Danielle Moats has worked in the corporate environment her entire life while always maintaining a passion for animals and their care. She started in her late teens operating a pet sitting business to assist with her college tuition which did not end there. She continued her passion for animals by holding second jobs throughout her years at a veterinary office, managing a dog boarding and daycare facility, baking dog treats and even running a non-profit street rescue organization rescuing street dogs in Texas. Even though she has devoted herself to her business career, she knew she wanted something more for her and her family.

While Jason Moats has also proven himself to be a hard-working individual with a background in the manufacturing industry, he also has a soft spot for animals and their well-being. He is very loyal, devoted and fully committed to helping our customers and their companions find the best nutritional care available.

As a committed couple to pet’s nutritional needs, they started their adventure with Pet Wants for a way to pursue their entrepreneurial dreams while doing something they knew they would enjoy. They love being able to work with animals and pet families every day! They strongly believe that our health is dependent on what we put into our bodies – whether 2- or 4-legs! Pet Wants allows them to help pet owners better understand pet food so they can find the rights products for their individual pets and take a more holistic approach to pet health through Pet Wants’ food and other unique products.

Pet Wants Chardon's co-owners, Danielle and Jason Moats.
 

Deal Summary

Deal Summary

 Issuer

 Savi Solutions LLC

 Doing Business As

 Pet Wants Chardon

 Security Type

 Subordinated Secured Loan

 Loan Purpose

 Expansion into 2nd location, refinancing 

 Offering Amount

 $40,000 - $175,000

 Interest Rate

 10% annually

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 6 months interest-only followed by 54 months fully amortizing 

 Personal Guaranty  

 Danielle Moats

 Security Interest

 2nd lien in the assets of the Company behind senior note holder 

 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 Savi Solutions 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   $2.50   $6.92   $129.59
 $500  $14.25   $12.50   $34.61   $647.95
 $1,000  $28.50   $25.00   $69.22   $1,295.91
 $5,000  $37.25   $125.00   $346.09   $6,479.55

Your ongoing responsibilities from investing are 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 an amortization period. There are no prepayment penalties and Savi Solutions 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.

Savi Solutions 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 Savi Solutions LLC 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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Offering Documents

Comments

Q & A

+ Who is the first lien secured creditor who will be ahead of this lien position?

Thanks for your interest in our campaign Robert. The lien information is available in the Form C, which can be found on the bottom of our campaign page under the heading "View Our Offering Documents" and in the "Security Interest in Collateral" section of the document. In this case, Honeycomb is the 2nd lien behind the senior creditor Huntington Bank.