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 $10M 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. Shortly after, they were introduced to food delivery and 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.
Our app has been downloaded over 100,000 times!
Users love how easy it is to use the app, our customer service, our mission to bring more exposure to black-owned restaurants and our culture, and the variety of food :-)
The food delivery industry is booming. The total addressable market is over $26B in the U.S.
Although black restaurant owners make up less than 9% of all restaurants in the United States, Our niche market for black-owned restaurants is growing as black entrepreneurs open more businesses yearly.
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.
Since launching in 2019, we have generated $1M for black-owned restaurants, completed over 26k orders, grew our social media following to over 110k organically, and have over 120k users download our app!
In Q1 of 2023, we grew our revenue by 40% from the previous quarter, increased our customer accounts by 20%, and are on pace to generate $300k+ in 2023. Our average order size is around $40 and we earn a minimum of 20% profit on every order.
Here are the most promising growth strategies that will help us increase our sales:
In 2023, we are on pace to hit roughly $300k+ in revenue and we project by 2025 we will surpass $1M in annual revenue. We will achieve this by implementing marketing strategies, expanding to new cities, and onboarding 1,000+ new restaurants in both our current and expansion markets.
Your investment will help us build a custom app, grow our operation, expand to new markets and hire key talent. This will give us a 2 year runway for operational costs.
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