Cordelia's Locket Grand Opening

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

$1,621.48

Funded Of $25,000.01 Goal
6.48% Raised
Equity Crowdfunding Offer. Structure
59 Days Days Left
$250.04 Min. investment
$25,000.01 Max. investment
$25,000.01 Minimum Raise
$250,000.03 Maximum Raise

Offering Description

Cordelia’s Locket is Squamish’s first oceanfront café, wine bar and pantry. We’re two 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. This is the first of a series of “Lockets” to be opened on the West Coast of North America.

Intro

Team

Cordelia’s Locket is quickly becoming the 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. 

CL is known for its innovative business model that is collaborative and hive-minded that empowers employees, thereby providing a better customer experience while also retaining the best talent.

To continue on its mission, Cordelia’s Locket launched an Equity Crowdfunding campaign on Equivesto looking to their local community to gather the funding and support they needed to thrive.

Honing in on these key factors, Cordelia’s Locket was able to raise over 282% of their funding goal on their first campaign.

Squamish has been craving a brand-new concept in hospitality, a Wine Bar, Café and Pantry. There was a clear need for more locally owned and memorable restaurants to serve the growing community. Filled with local artisanal delights and elevated comfort food. True to season. Working with local growers and makers.

Cordelia’s Locket is the only oceanfront patio in all of Squamish, offering customers a stunning view of the Stawamus Chief and the Mamquam Blind Channel. Being born during the pandemic, COVID-safety is top of mind with mask mandates remaining in place and options for dining-in or taking-out as well as picnic backpacks with secret hike guides to enjoy the beautiful area that is the Squamish Valley. Being from the community of Squamish, these business moguls Kelly Ann Woods and Melissa Steacy are mothers, caring community members and are ready to meet the needs of the Squamish community with their family-friendly policy and a menu to meet many dietary needs. 

Cordelia’s Locket is set to thrive despite COVID-19 and has opened their much anticipated doors as of August 7th 2021. 

Not only are they expecting significant success with their first Locket, but they have their sights set on additional Lockets in Waterfront communities across Canada and into the Pacific Northwest of the United States.

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.

Our Business Update

Update

Since our last campaign, we have been hard at work with all our tenant leasehold improvements. We installed a HVAC system, all plumbing, electrical, purchased kitchen equipment, windows installed. All of our inspections have passed and we have built an incredible team.

We opened on August 7th and we could not be happier with the food, service and joy from our customers. We have managed to build an incredible team when we were told that it was impossible. Chef Wes Chaplin has joined us from Hamilton Ontario. Being a chef runs in his blood with his dad and grandmother both having their red seal. Our GM, Lianne McCear has come from Glasgow. There is nothing quite like Scottish hospitality and Lianne is pedigreed in her hospitality work. Servers and cooks are flocking to our hive like model knowing that with Cordelia's, things are different. Our social media has exploded with stories and posts from thrilled people. We have been granted the honour of being a Tattinger Cuvée house and wine reps are digging into their portfolios to bring us the most beautiful wines made by women around the world. Chef Wes is putting out stunning food and his relationships with local farmers and producers grows weekly as he sets out to the market with his red wagon for this week's wares and plans for the menu now and into the future. To say we are proud and have our sights set on a beautiful future is an understatement.

Our first campaign was 282% funded and closed successfully with a share price of $0.05. With the progress we have made in the past several months, including our recent launch, the value of Cordelia's Locket has grown. As such, this campaign is set at a share price of $0.07.

This represents a return of 40% to date for investors who supported us as part of our first campaign.

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

Update

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.


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Offering

Perks

 

Terms

Pre-money valuation (before investment received): $1,439,487.14

Post-money valuation (after investment received): $1,689,487.17

Minimum Raise: $25,000.01 for 357,143 Preferred Shares for 1.48% at $0.07 per Preferred Share

Max Raise: $250,000.03 for 3,571,429 Preferred Shares for 14.797% at $0.07 per Preferred Share

Securities Offered: Class F Non-Voting Preferred Shares

Use of Proceeds

  • Operational improvements
  • Awnings 
  • Expanded outdoor seating
  • New and improved equipment
  • Improving indoor facilities and esthetic
  • Upgrading wine program
  • Expanding revenue channels (ie. packaged goods and events)

Reasons to Invest

  • Fantastic location: destination for locals and visitors.
  • Unique business model is set to attract and retain great talent.
  • Value driven conscious capitalism.
  • Female leaders.
  • Lifestyle investing.
  • Purpose driven.

Management Team

Kelly Ann Woods

Kelly Ann Woods

Co-Founder

Kelly’s heritage as a Descendent of the Early Witches, Daughter of the American Revolution, and upbringing in the forest of western Quebec, creating potions and herbal remedies from an early age, contributes to her passions today. In the last 8 months she has been awarded 3 business awards: RBC Canadian Woman of Influence Award, BC Business Woman of the Year for Community Building, and the Western Canada CANIE Woman Entrepreneur award. Currently penning “The Boozewitch Guide for the Sober Curious” and growing Brujera Elixirs House of Brands.

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Melissa Steacy

Melissa Steacy

Co-Founder

Melissa grew up in the western suburbs of Sydney, Australia where Sunday’s were always reserved for Roast Dinners. Recalling her high school days where she would undertake food technology and always be in the kitchen trying out a variety of new recipes, cooking and food has always been in her blood. She has moved between the hospitality and tourism industries since the late 90’s. In addition to this amazing project, she alsois helping to reshape the beverage industry alongside Kelly with Brujera Elixirs House of Brands.

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08/17/2021
Project launched

FAQs

No Q&A have been posted for this campaign yet. Ask the project creator directly.