Details
1 | In less than 24 months, we on-boarded Savannah Sauce Company's signature sauces into 46 Whole Foods Market stores in the Southern Region |
2 | Named one of the "2016 Woman Vetrepreneurs We Love" by the National Veteran-Owned Business Association |
3 | Created the "Tiny Homes for Big Heroes" cookbook to sustain tiny house communities for homeless Veterans |
4 | The sauce and condiment industry is a $21 billion dollar industry. |
5 | The Covid-19 Pandemic has not negatively affected our sales. Sales have actually increased via mail order and in-store . |
6 | 1st Problem: A lack of all-natural gourmet readily accessible sauces and condiments for health conscious consumers. |
7 | 2nd Problem: Contemporary foodies demand premium quality health conscious products that are flavorful and delicious. |
8 | THE SOLUTION: Provide high quality all-natural ready-made sauces, salsa, jams and sauces at affordable prices. |
Savannah Sauces is a small business that has introduced one of Americans favorite things to add to a dish, meal or side. The sauces are delicious, wholesome and homemade. Creating a sauce with all natural and fresh ingredients is a healthier way for consumers to have wonderful tasking condiments, sauces and salsa. Secondly I believe the owners are the most remarkable entrepreneurs. Tracey is an incredible creative genius that can handle her business with Savannah Sauces and natural doggy treats. Michael Roberson is an innovative thinker. He is has so many wonderful ideas about Savannah Sauces and has created other ventures and ideas with the thought to keep consumers healthy.
Savannah Sauce Company has financial statements ending December 31 2019. Our cash in hand is $18,000, as of May 2020. Over the three months prior, revenues averaged $7,400/month, cost of goods sold has averaged $3,100/month, and operational expenses have averaged $7,500/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.
Overview
Savannah Sauce Company’s product line includes hot sauces, ketchups, BBQ sauce, marinades, and other assorted sauces. We allocate profits from sales to go towards helping Veterans and their families.
Our ambition is to be sold in stores across the country; we want to be known for not only our delicious products, but for also being good stewards of our planet and fellow man.
Milestones
Savannah Sauce Company, Inc. was incorporated in the State of Georgia in September 2014.
Since then, we have:
Historical Results of Operations
Related Party Transaction
Refer to Question 26 of this Form C for disclosure of all related party transactions.
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 8 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
Savannah Sauce Company, Inc. cash in hand is $18,000, as of May 2020. Over the last three months, revenues have averaged $7,400/month, cost of goods sold has averaged $2,100/month, and operational expenses have averaged $1,430/month, for an average net margin of $3,870 per month. Our intent is to be profitable in 12 months.
After our FOX and Friends interview we experienced a huge spike in sales. We hope this trend to continue, although it not be guaranteed. We are also in talks with Cracker Barrel and Bass Pro Shops, which could increase our sales by 4 times.
In 6 months, we hope (but not guarantee), to have revenues of $40,000.00/month with expenses estimated at $19,450.00/month.
We are applying for grant free incubators which will provide us with an injection of capital. We also plan on fundraising again in 12 months.
1 | A downturn in economic conditions could adversely impact the market for premium sauce products such as ours. |
2 | Larger, more recognizable sauce companies, with significantly greater financial and marketing resources, could decide to enter our super-premium market, which could harm our sales. |
3 | Copy cat well-funded newbies or copy cat well established older companies looking to get into the all-natural market. |
4 | More established companies seeking to offer competitive products by lowering ingredients costs could under cut us in the marketplace. |
5 | Failure to raise needed capital will create a possible disruption in distribution that may negatively impact our ability to fulfill commitments to our retailers. |
6 | 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. |
7 | COVID-19 could last longer than expect, which may negatively affect our ability to generate revenues and procure new customers. It is also unclear how COVID-19 may affect future market demands. |
8 | Supply chain is a risk. There are factors outside of our control related to procuring our raw goods that could negatively impact our business. |
9 | Shipping can be unreliable during turbulent times. If we are unable to obtain supplies reliably and expeditiously, that could hurt out margins. Similarly, if our ability to ship product to our customers is compromised, it may hurt ability to attract and retain customers. |
Director | Occupation | Joined |
---|---|---|
Michael Roberson | V.P. @ Savannah Sauce Company | 2014 |
Dana Levy | Paralegal @ Self Employed | 2020 |
Paula Potter | Personal Banker @ Bank and Trust | 2020 |
Tanya Pilcher | Insurance Executive @ Self Employed | 2020 |
Shamone Allen-Stephenson | Managing Director @ Thomas Capital Group | 2020 |
Ron Christopher | Attorney @ King Tisdale Museum | 2020 |
Tracey Richburg | CEO @ Savannah Sauce Company,Inc. | 2014 |
Officer | Title | Joined |
---|---|---|
Michael Roberson | VP, New Business Development | 2014 |
Tracey Richburg | Founder/CEO | 2014 |
Holder | Securities Held | Voting Power |
---|---|---|
Tracey Richburg | 200,000 Common | 80.2% |
Date | Amount | Security |
---|---|---|
09/2020 | $29,076 | Convertible Note |
10/2019 | $16,000 | Priced Round |
09/2014 | $55,000 | Priced Round |
Name | Tracey S. Richburg |
Amount Invested | $55,000 |
Transaction type | Priced Round |
Issued | 09/19/2014 |
Relationship | CEO |
$20,000 | 30% -- Inventory/working capital.
30% -- Marketing through in-store demos, production of cookbook, and digital ad spend.
32.5% -- Distribution (fulfillment of mail orders).
7.5% -- Wefunder intermediary fee. |
$250,000 |
40% -- Inventory/working capital.
40% -- Marketing through in-store demos, production of cookbook, digital ad spend, and trade show attendance.
12.5% -- Distribution (fulfillment of mail orders).
7.5% -- Wefunder intermediary fee. |
Class of Security | Securities (or Amount) Authorized |
Securities (or Amount) Outstanding |
Voting Rights |
---|---|---|---|
Common Stock | 1,000,000 | 249,500 | Yes |
Preferred Stock | 50,000 | 0 | No |
The Securities and Exchange Commission hosts the official Form C on their EDGAR web site.
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