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Florida

The Pretzel Haus

About Documents
31%
$15,250 Funded
$50,000 Target
4 days Time Left
14 Investors
$15,000 Min. Raise
$150,000 Max. Raise
60 mo. Term Length
10.25% Interest Rate
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Overview

The Pretzel Haús will produce the best tasting fresh pretzel products out of their retail store. The product will be something that nobody has anywhere currently. We offer stuffed pretzels with flavors such as pepperoni and mozzarella, spinach and feta, turkey bacon ranch, and rotating seasonal flavors along with our original twisted favorites.

Our business model also includes selling wholesale pretzels to local breweries out of each retail location. The money generated from this wholesale business is intended to cover all monthly operational costs leaving the retail revenues to generate a higher operational profit.

The future will allow us to expand into franchising and opening locations in airports across the country.

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

We're a fun and unique restaurant specializing in stuffed pretzels and your classic twisted favorites!

 

The Project

The funding will be used for the buildout of each retail location and equipment to go into each location. With the capital, our business will be improved as we will gain operational efficiencies with each location that we can open. It will allow us to capitalize the expenses in a format that will extend the terms compared to our current financing models. We also believe we will be able to utilize the same general contractor to gain consistency in the design and buildout of our facilities,

  • Leasehold improvements - $35,000
  • Equipment - $15,000
  • Working capital - $100,000

Our flagship location in Palm Harbor, FL will be a place where everyone can connect with great company and great pretzels! 

Business

History

The Pretzel Haus brings together two longtime friends who both agree, we have the best pretzel products anywhere. Nick's wife was praying and asking for some guidance. She woke up the next morning with a hankering for pretzels! She spent six months experimenting until the family decided they had the perfect pretzel that was the most delicious combination of a dry New York City street pretzel from my childhood and a greasy mall pretzel!

Nick and Greg have been talking about expanding the pretzel products for a long time, and after the Pandemic closed so many locations, it seemed like now is the time to launch our new business. We believe that we will become the next fad of a restaurant chain that starts popping up all over the US.

The Pretzel Haus cafe concept was born from the widely loved Penguin Pretzels.

 

Future

In the next 1-3 years we plan on opening about 10 locations in the Tampa market to create a regional powerhouse of a company, sharing our amazing pretzel products. After that, we believe there is a future of franchising the business to other major metro areas across the US.

The Pretzel Haus will also offer sweet baked goods such as apple hand pies! 

 

About the Owners

Greg Mitchell

Greg has been a global service manager of fortune 500 publicly traded businesses for the past 20 years. He was also a chief investment officer for a large regional financial planning firm with more than 500M in Assets under management.

Nick Agostino

Nick Agostino has been the owner, operator, and manager for Penguin Pretzel for the past 9 years. He has successfully expanded this business to include both retail and wholesale pretzel products.

Deal Summary

 Issuer

 The Pretzel Haus LLC

 Doing Business As

 The Pretzel Haus LLC

 Security Type

 Secured Loan

 Loan Purpose

 Retail build-out

 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  

 Gregory Mitchell

 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 Pretzel Haus 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  $2.37  $6.85  $130.37
 $500  $14.25  $12.81  $34.79  $651.87
 $1,000  $28.50  $25.56  $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 The Pretzel Haus 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 Pretzel Haus 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 Pretzel Haus 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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