Question 1

Hello, At which stage of development are you at the Savannah location?

Accepted Answer

Hi Lea, Thanks for the question. GC selection and permitting was sequenced in the last quarter of 2021. The fit-out started in January. We are a furniture foot forward retail experience, therefore, we are programming a light fit out. Savannah is a warm vanilla shell, and we expect the works to be completed by late April. During the course of the next 90 days we will secure the remaining FF&E [Fixtures, Fittings and Equipment] as well as design and built the technology components such as: ...

Question 2

Hello Mo, I see you have answered most questions quite brilliantly. However I would love to discuss further, first having a more detailed look at your financials including projections especially for the industry you're in and also about alternative funding opportunities availa...

Accepted Answer

Thanks Richard, will take a look.

Question 3

I like the concept for sure going to invest your response will tell me how much. Would you consider parlay cafe a competitor. Was going to invest with them,however, their communication sucks..what will the customers get to show they reserved the space. Would it be something as...

Accepted Answer

Hi John, Thanks for your question/s. We explored Parlay during our early D/D. They are delivering a value proposition that hits some of the paint points, however, they are [in terms of product and features as well as User experience] much more modeled on a 'vanilla' coworking solution. Our customer experience when it comes to seat/space reservation is well structured. VEL has an app [modeled on a simple space/facilities management solution] that enables Users to book space in the Coffee Shop....

Question 4

Hi, the concept is great but do you have locations or just one location in operation. Is the Security system privately owned by Vel or are you going to be paying for that service. At first glance it looks like shares are not converted to note. Can you give some insight as I'm ...

Accepted Answer

Hi Donna, Our location #1 in Savannah, GA is a few months from launch. We are securing location #2 in Charleston, SC. The cloud based security system will be installed and commissioned by a specialized contractor and managed by VEL. This current raise on Wefunder is a Price Round. Thanks, Mo.

Question 5

Hi Mo, Congrats on your CF campaign. Have you heard of start-up GroundFloor out of SF? They are not quite like Cafe set-up but offer space to WFH professionals. How is your co. different and have competitive advantage? OR who do you consider the threat to your growth plan?

Accepted Answer

Hi Girish, Thanks for your note. We have come across GF. They are, as you mention, positioned as a membership based lifestyle club. Our value statement is quite different. VEL is a hyper localized tech forward work cafe. Imagine if GoPro made a coffee shop - we embody that principal: a work cafe designed from the ground up for freelancers and remote workers looking to do high value work. On your point about the competition's bearing on our growth plan: [1] the size of market is enormous, [2] ...

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