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Ohio

Carter's BBQ

About Documents
147%
$29,400 Funded
$20,000 Target
Closed Time Left
70 Investors
$20,000 Min. Raise
$40,000 Max. Raise
60 mo. Term Length
10.25% Interest Rate
Closed

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Overview

Carter's BBQ is obsessed with keeping the traditions of smoked BBQ offering dry-rubbed, low and slow BBQ with a Cleveland twist. We offer smoked meats like ribs, shoulder, brisket and chicken with hearty homemade side dishes at reasonable prices. Our target consumer, in general, would be hungry BBQ lovers.

This is a customer-based business and when it comes to customer satisfaction and bonding with the community the business serves, Darren is the constant who effectively brings these two together. He is a community-minded individual who is very active and has spearheaded many events within his own neighborhood.  He is founder of Cleveland Dads Group, and All Geared Up - A Family Bike Event. He recently (before Covid-19) coordinated a local Rib Cook Off.  His love for community, cooking and serving others will be the company's biggest advantage. One major factor in any business is repeat customers and Darren's charismatic enthusiasm with people is key. Not only will people love the food, but they will also love Darren.

 

We are raising $40,000 at a 10.25% interest rate, paid over a 60-month term!                   

           

Carter's BBQ is owned and operated by husband and wife team: Darren and Theresa! 

 

Project

The main purchase of the trailer and smoker is to increase our capacity for cooking and take our show on the road! Having a food trailer will expand our market base pretty quickly. Being mobile helps to bring one of America's best cuisines on location to pop-ups at universities, business parks, residential areas, private on-site catering and captive audiences at outdoor food truck festivals. 

At the present time we smoke on a total of 4 smaller non-commercial smokers/grills which have limited the amount of food we can produce for an event in a decent time frame. The custom smoker will handle our current cooking space and more.

Having a trailer will open us up to a whole new customer base. We can not only do local pop-ups, but fairs, community events and catering in other cities and states as well.

  • BBQ Trailer - $28,000
  • Generator - $1,500
  • Custom Smoker - $4,000
  • Trailer Wrap - $1,500
  • Misc. Equip - $5,000

 

Darren is 216 man! He strives to honor and uphold the craft of barbecue. 

 

History

We started this business as a side project from Darren's love and passion of BBQ. As a test, we began selling rib dinners to see if this could have legs. The dinners always sold out and we were able to do a few catering events as well.

We had hoped to expand the business in 2020 to a constant part-time basis, but because of the pandemic many of our events were cancelled so we decided to postpone expansion and revisit post lock-down. We both work full-time jobs, but hope to take this business from part-time to full-time leading us into retirement.

 

Darren's signature ribs spurred him to start the business!  

Business

The Future

We work full-time at the moment, but the hope is for the business to grow for at least an early retirement for one or both of us. The next few years we will be focused on averaging 3 to 4 events (pop-ups, catering, etc.) per month building up a solid customer base for our business.

 

Carter's BBQ also sells their signature sauce and pork and chicken rub! 

 

About the Owners

 

Darren W. Carter

Darren W. Carter, has spent countless hours perfecting the craft of low and slow BBQ. He has also developed a signature BBQ rub and sauce.  He has learned how to take his passion for BBQ from the backyard and his family, to the streets and BBQ lovers all over the city. He strives to honor those that came before him and continue the legacy of family and community with his BBQ. Darren is active in his own community as co-founder of Cleveland Dad's Group and founder of All Geared Up - A Family Bike Event. Both deal with fatherhood and family.

Theresa M. Carter

Theresa M. Carter, is a Software Engineer by day, but comes from a long line of comfort food matriarchs and continues those traditions to this day. Her sides dishes will leave you wanting more, but she also has a passion for the children within her community. She serves as a state and national representative as well as the recording secretary for the Policy Council of Step Forward in Cleveland, OH.

 

Darren is the pitmaster and Theresa is the queen of sides! 

 

Investor Testimonials

 

 

 

 

 

Deal Summary

 

 Issuer

 Carter's BBQ LLC

 Doing Business As

 Carter's BBQ

 Security Type

 Secured Loan

 Loan Purpose

 Food trailer and equipment purchase 

 Offering Amount

 $20,000 - $40,000

 Interest Rate

 10.25% annually

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 60 months 

 Personal Guaranty  

 Darren Carter and Theresa Carter

 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 Carter's BBQ 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   $6.41   $128.22
 $500  $14.25   $32.06   $641.11
 $1,000  $28.50   $64.11   $1,282.22
 $5,000  $37.25   $320.55   $6,411.08

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. There are no prepayment penalties and Carter's BBQ 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.

Carter's BBQ 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 Carter's BBQ LLC a $250 posting fee and a 8% 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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View our
Offering Documents

Updates

Comments

Q & A

+ Two questions. "Project" and "Anticipated Business Plan" list different amts. for trailer, smoker, & misc. equipment. Which numbers are correct? Second, if the $40,000 max is not raised, how will the funds that are received be allocated? Thanks.

Great question, apologies for the different amounts. The project numbers are correct. They would be the higher numbers, since the steel and wood cost have increased since our process began. To answer your second question, the trailer and smoker are priority. Any funds received less than our max will be allocated towards those items. Thank you for your interest! Let us know if you have further questions!

+ Where do you source your meats?

Thank you for this question! We attempt, as much as possile, to use local meat shops. When we can't we use national retail food stores. I hope this answeres your question! Please feel free to ask more if needed!