A Future Equity Agreement (SAFE) gives you the right to future shares in the company. If you invest, you're betting the company will be worth more than $7.5M eventually.
In 2016, David and Aaron Cabello decided to leave college and head to Philadelphia to help black-owned businesses in their community. They landed at a local bookstore, where they began to learn about e-commerce and how to run a business. While working at the bookstore, they started delivering food on their bikes to earn extra income.
While delivering for the other food delivery services, they noticed they all had something in common: none were black-owned, and none highlighted black-owned restaurants appropriately. So David became intrigued with their business models and decided to fill the void by creating a marketplace that represented black restaurant owners and created job opportunities.
The costs associated with offering delivery/takeout can be anywhere from 15-30% of the total sale, which makes it harder for restaurants to thrive.
Some competitors do not allow restaurants to upcharge their prices. This locks them into selling their food without accounting for the costs taken from their usual profits.
There is heightened competition on these apps due to the hundreds of thousands of restaurants on their platforms, making it difficult for local black-owned restaurants to get discovered.
Our app connects restaurants to consumers that are looking to support black businesses. We hire the men and women within these underrepresented communities to deliver. This creates an ecosystem that can help black restaurants succeed on our platform.
We expanded to 5 new markets, Atlanta, Baltimore, Detroit, Los Angeles, and New York City, from 2020-2021, and currently operate in four.
Our projections to hit $3.6M in annual revenue by 2026 will require 250 users to order food through our platform daily.
Our niche market for black-owned restaurants is growing as black entrepreneurs open more businesses yearly. Black restaurant owners make up about 8-10% of all restaurants in the United States.
We have not included global data on black-owned restaurants since we focus on the U.S. However, our market size will increase as we expand into Africa, Canada, the Caribbeans, and other countries/cities across the diaspora where black-owned restaurants operate.
Your investment will help us grow our operation, expand to new markets and hire key talent.
Our strategy to attract new users, restaurants, drivers, and partnerships will be very effective in helping us achieve maximum growth.
Additional part-time team members:
Here are important links you may want to read through if you are new to investing, curious about how this works, how you can earn a return, and more information on equity crowdfunding.
Getting Started- What is WeFunder?
Earning A Return