The Ledger
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Callahan: Coffee and alcohol are two recession-proof businesses
“Coffee, alcohol, man. Those are the two recession proof businesses.”
Callahan carried up to $700k in debt in his mid-20s
“At 24, 25 years old, I was probably sitting on 650 to 700,000 dollars in debt and not making very much money at all.”
Callahan: Community Funded projects $1.2M in 2017 revenue
“Right now we're projecting 1.2 million dollars in revenue this year.”
Community Funded facilitated $2.5M across 460 crowdfunding projects in 2016
“2016 for, you know, just over about 460 projects, we ended up raising about two and a half million dollars.”
McCabe Callahan operated five coffee shops and a bar by age 24
“By the time I was 24, I had five coffee shops and a bar rolling in this area.”
Callahan: Coffee and bar ventures generated $1.8M revenue in 2006-2007
“I was doing about 1.8 million at one point back in 2006, seven, when I had all of it going”
Callahan's two coffee shops generated $1.3M in 2016 revenue
“I'm doing about 1.3 million in sales between two shops now. Nathan Latka: That's great. And it's really just, McCabe Callahan: That was last year's revenue.”
Callahan: Regular customers pooled funds to open second Mugs Coffee location
“I had given up. I was not going to expand. I was just going to focus on my singular shop. And I was telling my story to one of my customers that came in on a regular basis. And he basically said, well, I want to see another mugs in town. I'll chip in some mone…”
Callahan: Community Funded raised $475K seed followed by $1.81M round
“So the first round was for four and 75,000 dollars to build the product and get our first customers effectively did that. And when we had customers signing up in the university space, higher education we decided to raise another round early scale. We knew our …”
Callahan: Community Funded charges $5K-$10K implementation plus $12K-$25K annually
“Yeah, so right now, specifically in this market of higher education and healthcare, we have an implementation fee typically ranges between five and 10,000 dollars, and then we'll typically have an annual subscription that ranges between 12 and 25,000, dependin…”