Cordelia's Locket

Retail , Food & Beverage
Squamish, British Columbia, Canada
elizabeth@cordeliaslocket.com
Cordelia's Locket Cafe and Bar Inc.
Cordelia's Locket Cafe and Bar Inc.

$28,205.10

$28.2K
$18.2K
Funded Of $10,000.00 Goal
282.05% Raised
Equity Crowdfunding Offer. Structure
- Days Left
$100.00 Min. investment
$25,000.00 Max. investment
10000 Minimum Raise
250000 Maximum Raise

Offering Description

Intro

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Cordelia’s Locket is Squamish’s first oceanfront café, wine bar and pantry. We’re three successful and award-winning business leaders who have developed a new hive style business model for the restaurant industry. We have a vision to be a leader in promoting, supporting and strengthening the skills and contributions of diverse women in all restaurant roles.

Our Business

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We have a solid business plan that will meet the needs of the Squamish community. Squamish, on the Sea to Sky corridor between Vancouver and Whistler, is missing an elevated oceanfront dining. Somewhere you can bring your kids, pick up a pound of butter, sip Rosé and stare out at the Sound.

Market Needs


The Covid-19 pandemic is not gender-blind.

It has affected women & mothers disproportionately.


One of the biggest challenges in hospitality is staff turnover.


We have heard people talk about post-COVID to “build back better,” but what does that really mean? If we look at the impact on women due to COVID and the perennial issue of staff turnover in hospitality, we believe it makes the perfect storm to look to a new model.


We’re creating an innovative and boundary-pushing hospitality group formed by women for women, pioneering a hive-like collaboration of contributions in a flexible and inclusive environment of shared values. We are on a mission to be a leader in promoting, supporting, and strengthening the skills and contributions of diverse people in restaurant roles, particularly women who have been adversely affected by the pandemic. A new business model that will empower employees, which in turn will provide a better customer experience while also retaining the best talent.


COVID stretched restaurants and stores.


The continually changing regulations have required businesses to pivot, eat-in but reduced numbers, take out, and curbside pick-up. It has put undue stress on hospitality and retail businesses.

Business Model

We are a new business model for hospitality, with seven different revenue streams to create prosperous and diverse revenues that also support local suppliers, growers and makers. We can support the local community and reduce our supply chain, to make it more robust.


Our seven revenue streams:

  1. Café & Wine Bar
  2. Catering & Takeout
  3. Retail & Corporate Gifting
  4. Pantry & Grocery
  5. Cordelia’s Club
  6. Events & Rentals
  7. Office Meeting space

Many of these are self-explanatory, although we go into more detail in the investor deck. But we’d like to draw your attention to the office meeting space. As more and more people work from home, we can provide a location where businesses can get together to collaborate, team build and for team meetings.

Financial Forecast

The seven revenue streams enable Cordelia’s Locket to open longer to provide a destination location, all day. This converts into healthy revenue streams and strong EBITDA, earnings before interest, tax, depreciation and amortization, a measure of business profitability. Our revenues are based on very achievable customer numbers. Our target is to open in April and hit 80 customers a day by June 2021.


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Leadership Team

We all have hospitality backgrounds, and working together on Cordelia’s Locket seemed to be a natural next step.


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Elizabeth Mah JD, grew up helping at her parent’s restaurant on Granville Island. With Fairmont Hotels training and wedding planning experience, she was recognized as one of Business in Vancouver’s Forty under 40’s winners in 2018.


Melissa Steacy grew up experimenting in food technology. Since the 1990s, she has worked in hospitality and tourism. She and Kelly were founding members of the local food co-op Squamish Fresh and are now working together on State B beverage company part of the Brujera House of brands launching across North America imminently.


Kelly Ann Woods grew up in Quebec and spent her formative years in the Ottawa hospitality industry. She’s called Squamish home for nearly ten years. Formerly of Gillespie’s Fine Spirits and now of Brujera Elixirs House of Brands, has been awarded 3 business awards in the last 8 months: RBC Canadian Woman of Influence Award, BC Business Woman of the Year and the Western Canada CANIE Woman Entrepreneur award.


Award Winning Team

  • Elizabeth is a Proud Winner of the 2018 Business in Vancouver Top 40 under Forty Awards.
  • Kelly is the winner of the 2019 RBC Canadian Women Entrepreneur Award in the Micro Business Category.
  • Kelly is the winner of the 2019 Western Canada CANIE Woman Entrepreneur award.
  • Kelly is the winner of the 2020 B.C. Business Women of the Year Award for Community Builder).

Offering

Invest in a business you believe in.


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Online Process

Equivesto is a licensed Exempt Market Dealer, and you can be confident your information and transaction are safe.


No Fees Ever

Starting at $100, there are no fees for you to invest in Cordelia’s Locket through the Equivesto portal.


Terms

Pre-money valuation (before investment received): $1,000,000.

Minimum Raise: $10,000 for 200,000 Preferred Shares for 0.8% at $0.05 per Preferred Share.

Max Raise: $250,000 for 5,000,000 Preferred Shares for 20% at $0.05 per Preferred Share.

Securities Offered: Class F Non-Voting Preferred Shares.

Use of Proceeds

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Five Reasons to Invest

  1. Experienced and award-winning team in business & hospitality.

  2. Fantastic location: destination for locals and visitors.

  3. Seven independent COVID-aware revenue streams.

  4. Unique business model is set to attract and retain great talent.

  5. Clearly defined return on investment strategy.

Cordelia’s Locket is set to thrive despite COVID-19 and set to open its doors in early 2021. We would love to have you as an investor and to back our new business model for hospitality.

12/15/2020
Project launched

01/28/2021

Extension of Campaign Closing Date

Cordelia's Locket has extended the Campaign closing date from January 31, 2021 to February 11, 2021 to allow even more investors to participate!  The campaign raise goal has also been updated to $10,000.  Don't miss this great chance to invest in Cordelia's Locket!

Read More

FAQs

How big is the total space for the restaurant and bar?

Cordelia's Locket is the first 1 restaurant for this company. The restaurant will be applying for a liquor license with a capacity of 40 seats. 

Any plans for future expansion like new locations or more restaurant space?

Yes, there certainly is! We are just going to focus all our efforts and attention into making the first location very profitable for our shareholders, before expanding into more locations. Also, the expansion plans may include franchising or corporately-owned restaurants, but we have not made any plans for the ownership structure of those yet.

Can you describe your marketing plan?

Our sales and marketing strategy is supported by 8 integrated and synergetic plans, including:

1.  customer experience execution and reputation management;

2. professionally-managed social media accounts on Instagram, Facebook and Linked In;

3. expert public relations consultant;

4. food and travel bloggers and influencers;

5. integrated website powered by Square for easy integration with accounting, point of sales, and online presence and shopping;

6. contests and giveaways;

7. social paying (paid meals for social sharing on personal networks); and

8. strong email community-based communications.