|1||Projected profit margin of 29% for first year and 41% for 2nd and 3rd years (not guaranteed)|
|2||$200,000 cash infusion received from the local Community Redevelopment Assoc.|
|3||Strategic partnerships with the YMCA, AMI Kids, & the city of Ft Lauderdale|
|4||Already in discussion for two further hubs|
|5||Local county just passed ordinance in support of apprentice programs|
|6||Replicable & scalable model to be used all over the state and nation|
|7||We fill a need for a variety of local healthy fast casual dining options near downtown Ft Lauderdale|
Do Well Do Good Corp. has financial statements ending November 20 2020. Our cash in hand is $10, as of November 2020. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $300/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
We run a shared use kitchen and a food hall that provides the physical space for apprenticeship and entrepreneurial capacity building programs run by local partners such as other tenants on-site, including the YMCA and Broward College, as well as local nonprofits. The eco-system of success and the shared use model bring down the main barriers to entry for culinary entrepreneurs, namely business acumen and startup capital.
In 5 years, we hope to be opening our fourth food hub around the state of FL. These projections are not guaranteed.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Do Well Do Good Corp. was incorporated in the State of Florida in November 2020.
Since then, we have:
Historical Results of Operations
Our company was organized in November 2020 and has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 3 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 3 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Do Well Do Good Corp. cash in hand is $10, as of November 2020. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $300/month, for an average burn rate of $300 per month. Our intent is to be profitable in 7 months.
There are no material changes or trends in our finances since the date covered by our financials.
Over the next 6 months (through May '21), we hope to achieve revenues of $46,490 with expenses totaling $101,212. We generate revenue by subleasing space in the food hall to vendors and selling memberships to the shared use kitchen.
We need a minimum of $100,000 to secure the retail space and guarantee the future of the project. If the WeFunder raise doesn't get us across the finish line, I am looking into a business loan with a CDFI using my home as collateral. We need a total of $360,000 to build out the whole project from start to finish and achieve our revenue projections; we hope for a solid chunk of that to come from Wefunder and the rest of it to be covered through CDFI loans.
Other sources of capital: We expect to receive $200,000 from the local CRA (Community Redevelopment Assoc.) for buildout in the form of Tenant Improvement allowance in the lease.
We are currently in negotiations with the Black Business Investment Fund regarding a business loan. BBIF is the leading non-traditional lender and financial coaching provider in Florida. They specialize in bridging the gap between small businesses, and the money and education they need to reach their economic potential.
The threat of COVID shutting down public gathering places for a period of time could impact our business.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
We may not find the right marketing solutions to attract sufficient customers for either the vendors or the kitchen.
If the Community Action Plan is not done well the local residents could feel disenfranchised and choose not to support the Hub.
The success of the business relies on the network hubs, Rachel and Scott. If they should leave the organization the whole project could be jeopardized.
The team is unproven in this particular business model and while there are several similar projects throughout the state, finding the right recipe for this locale can be a challenge.
The success of Do Well Do Good Corp. relies on the success of food related businesses, which are traditionally associated with high risk and low returns.
Scott Strawbridge is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.
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