Why did you decide to go with a loan on wefunder? Couldn't you get a better rate from a bank?

Our bank, Wells Fargo will only lend to a business that has been open for a minimum of two years, despite us having excellent credit scores. On the positive side, we are hoping to build a great community of investors - each of whom I am sure will have great ideas/concepts for us. I have invested in several of these "crowd funding" deals myself and love the concept!

What was the train of thought between incurring debt instead of issuing equity?

Based on historic numbers and traffic flow we believe that it will be very easy for us to pay off the debt and we didn't want to have a lot of small equity partners. We would be amicable to discussing an equity position with a large investor, especially somebody interested in additional locations.

What quarter do payments start being paid back? 4th 2017? 1st 2018? If investing $500 do you get the lithograth plus the art print?

We are thinking of first repayment December 31st, 2017. If you invest $500 we will send you both the lithograph and the fine art print. They will be gorgeous (we founded a big art company 15 years ago)! Have a great weekend. Best regards Klaus

Will the note secured with assets? Are you personally guaranteering the note?

Hi Jon, we have not personally guaranteed the note but are obviously confident that the business will throw off sufficient cash flow. If you are looking at investing a large amount, we would be more than happy to personally guarantee such loan.

Will the Wefunder debt be senior or subordinate to the related party loan?

Hi Ryan, senior to the related party loan! Have a great weekend. Cheers Klaus

Boardwalk Hospitality Updates, Team, and Funding Progress | Wefunder, Home of the Community Round

Opening in October 2017

16 million annual visitors at Venice Beach Boardwalk

Working with consulting partner who managed the #1 performing Ben & Jerry's franchise for over 15 years

Store already designed by Ben & Jerry's headquarters

Ben & Jerry's Franchise Agreement signed after two year vetting/training process

Secured 5 year lease for a property centrally located on the Venice Boardwalk (plus option for 5 more)

Secured all necessary equipment including point of sale/accounting systems and merchandise

Boardwalk Hospitality

The 1st Ben & Jerry's on the world's most popular beach

$499,895

Updates

Boardwalk Hospitality

Quick facts

Team profiles

$499,895

Updates