Handle

“Paige and Elizabeth will a hundred percent have allegation when we raise this next round in the next like six months.”

“This looked really scary the first two weeks, and in the middle of all of this tumultuous period, we get an acquisition offer as well.”

“Essentially, right after we recorded, literally in the days following, there's a big regulatory change that happens in our industry, and overnight, our insurance costs 10 X's.”

“Yeah, he's better off optimizing the campuses he has, and really, you know, making them very cash efficient, huge revenue generators before moving on to the next campus, but I feel like so many investors are fixated on, let's expand all these campuses.”

“I mean, the business strikes me as one that capital infusion is great, but it will, you've got something here, right? And it will grow with or without that capital infusion, and I think the hyperlocal nature of it, and not growing too fast, Is actually what's …”

“One significant advantage that I see is that we're actually using W-II labor, even though it's part-time.”

“Really impressive articulation of the business, and I think you're doing everything you can to maximize the hyperlocal nature of the business, and I think it's going to be super successful.”

“So from the perspective of the fund, we'll be out, but I think, you know, given where you are with your fundraise, if you end up, you know, raising a price round or whatever this is with those funds, I would love to see if I might be able to write a very, very…”

“So we've done, to date, we've done 1.2 million in top line sales. On that, we've spent roughly 600,000 on inventory sold. That's, like, our cogs. And then when you add in the pick pack delivery labor, that's about 20%, and the rest is take for us... 25% of 1.2…”

“To give you an idea of opening a location, it's roughly 60 K in upfront investment to get the licenses, build out the store, purchase the inventory, and then it's roughly 60 K burn over the first kind of six to seven months to bring that store to break even.”

“Right now, our plan is to launch 11 locations over the next 18 months.”

“So like I said, we raised 1.1 million in safe notes. Those are at a 7.5 million dollar cap. So, you know, those technically haven't converted yet. We haven't sold any priced shares. I currently own roughly 80% of the company.”

“He came to us when he was a student and loved the business so much, you know, we gave him a little bit of equity compensation and then we put this new compensation structure in place and he passed up, you know, big four consulting jobs to stay and run this loc…”

“Every time they leave the warehouse, they're generally taking six to seven orders. That's where we really, because we pay them hourly, we're not paying them per delivery.”

“Right now, our customers, we have about a 50% conversion from signing up for the app and placing their first order”

“50% of our add to carts come from the first five products in any given category.”

“We've done some testing, and we've done analysis around, you know, delivery times and return rates for customers, and right now we see that if we get above 20 into the 25, 30 minute range, we do see a reduction in returning customers”

“We have two funds that are interested in leading the round, so I'm optimistic that we'll close the round at this point.”

“So if I'm a USC student, after 10 p.m., I actually can't get a DoorDash delivery, even to the building I'm in, much less my door. Because we're using students, they have student IDs, they can get in at any time, and we're able to deliver the best customer expe…”

“We have recently rolled out a new comp structure where they're actually being held accountable to the store level PNLs. So they're able to kind of define their earnings. By what the net income of is, what the net income of their store is based on the percentag…”

“I actually built all of our tech so I'm kind of a software engineer by trade, but yeah, so we have, Application for our couriers. We have an application for our customers, and then we have internal kind of administrative dashboards, order management software, …”

“There are 500 universities in the U.S. Where, that we've identified are viable markets for this, and if you just do the napkin math, our average store at maturity is going to be doing two million a year, so it's a billion in revenue, and then it's about 25% of…”

“Our delivery couriers, we intentionally overstaff because they turn into brand ambassadors, and then they go in and bring their own community inside the school onto the platform. And we've seen the data and the direct correlation between hiring new employees a…”

“The funny thing about college campuses is it's very enclosed as a community, and I think that's an insight I didn't have years ago. But it makes the unit economics easier because everything is happening in this dense area, right?”

“So our burn rate is generally less than 10,000 dollars a month.”

“We've raised, ah, so in twenty-twenty-two, early twenty-twenty-two, we raised a one million dollar pre-seed round, mainly from Angels. That was a safe note at a 7.5 million dollar plus money cap”

“So we're at a 1.2 million dollar run rate.”

“So our customer acquisition cost is actually under a dollar.”

“Our stores, we've actually brought our first two locations to cashflow positivity. So our flagship market USC is producing 10,000 dollars per month in profit.”

“Our stores generate more revenue and a higher margin than a typical seven 11.”

“We're here because we're raising a three million dollar seed round.”

“Handle builds vertically integrated dark stores adjacent to college campuses. We deliver a curated set of 700 SKUs to students on and off campus in an average of 12 minutes, And we deliver them profitably. Our average ticket is 17 dollars, and we net four doll…”

“Yeah, he's better off optimizing the campuses he has, and really, you know, making them very cash efficient, huge revenue generators before moving on to the next campus, but I feel like so many investors are fixated on, let's expand all these campuses.”

“What, I feel like I look at the businesses that I've done at that valuation in the past and they've had much higher revenue.”

“One significant advantage that I see is that we're actually using W-II labor, even though it's part-time.”

“So from the perspective of the fund, we'll be out, but I think, you know, given where you are with your fundraise, if you end up, you know, raising a price round or whatever this is with those funds, I would love to see if I might be able to write a very, very…”

“We have recently rolled out a new comp structure where they're actually being held accountable to the store level PNLs. So they're able to kind of define their earnings. By what the net income of is, what the net income of their store is based on the percentag…”

“Currently we have alcohol and tobacco at University of Oregon. We have tobacco at USC. We have alcohol and tobacco at University of Alabama as well, we just got approved, and we're about six months out from alcohol at USC.”

“So there are 500 universities in the U.S. Where, that we've identified are viable markets for this, and if you just do the napkin math, our average store at maturity is going to be doing two million a year, so it's a billion in revenue, and then it's about 25%…”

“Our delivery couriers, we intentionally overstaff because they turn into brand ambassadors, and then they go in and bring their own community inside the school onto the platform. And we've seen the data and the direct correlation between hiring new employees a…”

“Sure, so our burn rate is generally less than 10,000 dollars a month.”

“In twenty-twenty-two, early twenty-twenty-two, we raised a one million dollar pre-seed round, mainly from Angels. That was a safe note at a 7.5 million dollar plus money cap”

“We're projecting that at maturity, which is about three to four years after opening, stores can do two million in top line and 500 K in profit per year.”

“So we're at a 1.2 million dollar run rate.”