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California

Tank Glass

About Documents
103%
$15,510 Funded
$15,000 Target
5 days Time Left
19 Investors
$15,000 Min. Raise
$150,000 Max. Raise
60 mo. Term Length
10.25% Interest Rate
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Overview

Tank Glass is a direct-to-consumer brand that produces high-quality, durable smoking supplies. Currently, Tank Glass offers 4 glass products under the brand name; however, we just finished development on 3 brand new products and have more products in our development pipeline. Tank Glass has built a large, loyal customer base that, over the last two years, has been demanding new products from us. We are very excited to deliver on these demands and bring brand new, high quality, Tank Glass brand name products to our customers and smokers around the world.

Currently, there are very few brands in the ancillary product space (other than vaporizers) that are producing premium smoking goods for these customers. Of the few that do exist, most are specialized in a particular product category (i.e Santa Cruz Shredder, Dime Bags). The Tank Glass brand name and reputation provide a unique opportunity to disrupt each product category by developing products to the same standard as our original products.

Tank Glass currently has a production facility in Los Angeles where the glass is blown and a partnership with a 3PL service that handles the fulfillment and returns. Tank Glass is set up with enterprise inventory management and fulfillment software capable of efficiently handling a high volume of B2B orders.

We are raising $150,000 at a 10.25% interest rate, paid over a 60-month term!

Built for durability and function - unlike anything you've held before.

 

The Project

Tank Glass is an inventory-intensive business that requires a significant amount of upfront capital to order inventory at MOQs. We are looking for a loan to finance the production of glass at higher volumes and new products that we have designed. This loan would allow us to order enough inventory to fulfill the current demand for Tank Glass products and expand into brick and mortar retail.

Tank Glass is profitable and has been since its first year. There is an ever-growing demand for our products. The only issue we have is filling this demand. While we are cash flow positive, we are in need of a loan to finance large inventory orders for us to be able to satisfy this demand and expand into brick and mortar retail stores.

Once the newly purchased inventory is in our warehouse, we will immediately begin to sell to the retail shops that have reached out to us over the past year (roughly 300) and will start to market the products across various social media channels (Instagram, Youtube, Facebook, etc) through influencer marketing and sponsored posts. This initial loan is meant to kickstart our ability to begin scaling at a rapid pace. The product is proven, the market is expanding, and we have the experience and infrastructure in place to scale. 

  • Glass inventory for the 4 Tank Glass products - $90,000
  • Non-glass inventory for 3 newly designed products - $50,000
  • Point-of-purchase displays and brick-and-mortar supplies - $10,000

We are dedicated to bringing more high-quality products to market for our loyal community of consumers. 

 

Business

History

Founded in 2017, Tank Glass initially went viral on Facebook for a video showing its hero product, a 12 inch tall, 9mm thick glass beaker bong, being thrown from 20 feet high onto hard ground and bouncing around. Since then, Tank Glass has built a strong following online of around 130,000 followers and has bolstered its offering to include a range of sizes.

Tank Glass is looking to further expand its product line to include a more diverse array of high-caliber smoking products. As smoking continues to become a normalized part of modern culture, the number, and diversity of smokers demanding new products has increased. As more consumers with disposable income begin to make up a larger share of the cannabis market, the demand for nicer products has also gone up. We believe Tank Glass is perfectly positioned in the market to fill this demand and deliver quality, durable smoking products for both the casual and everyday smoker.

Meet Darrell: the personality behind the Tank Glass brand and engine behind a 125K+ social media following!

 

Future

With a product that sells itself through viral, guerilla marketing tactics, little money is needed to be spent on advertising to achieve positive results. The only struggle Tank Glass has experienced since its formation has been inventory supply. Tank Glass is an inventory heavy brand that has been unable to meet the demand from the start and requires an outside loan to finance larger inventory orders that will kickstart sustainable growth.

With this loan, Tank Glass will be able to build up inventory on the old and new SKUs, begin to satisfy the current demand for the products and expand into brick and mortar retail stores. Over the next 1-3 years, Tank Glass products will develop and launch brand new and innovative products to satisfy the increasing market demand. New products will be sold alongside existing favorites in smoke shops, smoking cafes, and dispensaries worldwide. 

All of our products are handblown in Los Angeles, CA.

 

About the Owners

Meet the masterminds behind the brand you know and love! 

Justin Lyle

Justin is an entrepreneur with experience building brands, hiring the right teams, and developing scalable infrastructure to handle growth. He started his first business, a smoking subscription box, out of his UCLA college dorm and successfully exited from it two years after launch. As a founding member of Tank Glass, Justin has developed strategic manufacturing partnerships, led the design and development of new products, and built the systems required to scale into brick and mortar. He enjoys complex problem solving and developing custom tools to optimize business management and growth and is excited to scale Tank into retailers around the world.

Alex Ferriera

Alex Ferriera is a technical Co-Founder with a multi-disciplinary background in development, marketing, and operations. He was previously on the founding team for Puff Pack and played a major role in the growth and eventual acquisition. He has been instrumental in the founding of Tank Glass, helping to lay the initial technical foundation, secure key marketing partnerships, and optimize the supply chain. His diverse experience across both B2B and B2C verticals will be key in ushering the growth of current and future product lines in both brick & mortar and direct-to-consumer sales.

Nelson Barry

Nelson is an experienced operations manager whose leadership has been focused on developing and delivering efficient technology-driven processes to optimize inventory production, fulfillment, and customer service. He was instrumental in scaling Puff Pack from a tiny office space into a full warehouse with multiple employees and now manages multiple warehouse locations and all B2C and B2B operations for Tank Glass. His expertise in logistics helps ensure Tank Glass can scale in an optimized, profitable fashion.

Samuel Hofer

Sam is a veteran of digital marketing with an emphasis on social media and influencer marketing. He’s worked in the same space for many years alongside Justin, Alex, and Nelson on a previous venture called Puff Pack, a subscription box for smokers. Using his own, self-developed marketing strategies, he grew the social footprint of Puff Pack from 0 to 75k followers and Tank Glass from 20k-125k. He has mastered the art of aggregating user-generated and in-house content to grow and maintain large, engaged followings.

 

Deal Summary

 Issuer

 Tank Glass LLC

 Doing Business As

 Tank Glass 

 Security Type

 Secured Loan

 Loan Purpose

 Inventory

 Offering Amount

 $15,000 - $150,000

 Interest Rate

 10.25% annually

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 6 months interest only, followed by 54 months fully amortizing

 Personal Guaranty  

 Justin Lyle, Samuel Hofer, Alex Ferriera, Nelson Barry

 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 Tank Glass 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  $2.56  $6.96  $130.37
 $500  $14.25  $12.81  $34.79  $651.87
 $1,000  $28.50  $25.62  $69.58  $1,303.73
 $5,000  $37.25  $128.12  $347.91  $6,518.66

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 Tank Glass 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.

Tank Glass 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 Tank Glass 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

+ What is the minimum amount of money do u except from donors

This is an investment opportunity NOT a donation! You will get paid back your initial investment plus interest. The minimum investment amount is $100, however, the more you invest, the more you earn in interest!