GET A PIECE OF HONEYBEE BURGER
Honeybee Burger is positioned to take advantage of the twin tail-winds of increasing demand for plant-based food, and Americans' large and growing appetite for fast-food of every kind, and burgers specifically
Major studies show that plant-based diets and reduced meat intake are a top priority for Gen Z and Millennials - over 150MM people in the US alone!
Honeybee Burger has already established its presence in LA, and has a large and growing social following (17k+ Instagram followers), great reviews (4.5 stars), thousands of customers served from its pilot locations, and managed to be profitable during 2020 despite the pandemic
Honeybee Burger is a humble fast-food burger joint with a grand mission: help save the planet by making plant-based food more desirable, accessible, and available everywhere consumers think about eating.
Why the bee? Because honey bees are responsible for 1 out of every 3 bites of food we take! It's hard to imagine a more important creature to our food system. That was a creature worth recognizing and celebrating!
We chose the ever-popular and iconic cheeseburger to build our brand around, because, hey, Americans love their burgers!
Plus, every time a customer eats a plant-based burger instead of one made with beef, it reduces our carbon footprint while saving enough water for 2 months worth of showers and preserving precious farmland! Now that’s something we can get behind!
Moreover, beef consumption and the commercial ranching of cows place a huge burden on our planet, using up our water and our land, pumping tons of CO2 into the environment, and of course, killing our cows! And reducing meat intake is associated with improvements in heart health, digestive health, and reduced risk of stroke! Shifting our demand for beef to plant-based alternatives can help all this - from the planet to your body!
That’s why Honeybee’s founder, Adam Weiss, came up with the idea of creating a mission-driven plant-based food concept back in 2018.
Adam opened the first Honeybee location in 2019, with co-founders Jeremy Adler, Brian Cikigil, and Ophelia Weiss. Located in Los Feliz, Los Angeles (since moved to Silverlake) this “pilot” location allowed Honeybee to test and optimize the menu, establish a loyal customer base, and basically show the world Honeybee’s awesome and distinctive take on plant-based fast food!
*By investing in Honeybee Burger Inc, you are investing in a company that owns not only the intellectual property that is Honeybee, but also owns 75% of our new flagship location opening soon in Los Angeles. Honeybee Burger, Inc. will also receive 5% of all revenue generated from the Honeybee cloud kitchen in West LA’s Colony Cooks.
Let’s face it. Vegan food can be boring. Before the introduction of “plant-based meats” like Impossible Foods and Beyond Meat, vegan “burger” options were typically veggie or bean patties, which didn’t try to emulate beef, and were not very appealing to traditional burger lovers.
But with these new plant-based meats working to mimic the taste of actual beef, people flipped out! For the first time, you could have a burger (or a sausage) that cooked, looked, felt, and tasted like meat -- but that was made entirely from plants! All of a sudden, the 97% of the US that didn’t identify as a vegan could eat a plant-based burger and enjoy it as much as beef - but without the harmful environmental impact.
As Impossible Foods and Beyond Meat grew in popularity (Beyond even went public in 2019), many major fast-food chains introduced new items made with one or the other. Unfortunately, these options are often crowded into a corner by double cheeseburgers and bacon burgers and are seldomly prepared in a way that makes them appealing or keeps them vegan. And to be frank: the last thing that traditional fast-food burger joints want to do is to convince you not to eat meat!
And that’s why Honeybee was born!
We decided to feature all of these amazing new products, including both Impossible Foods and Beyond Meat, and offer them in a totally plant-based menu with fries, shakes, fried chicken sandwiches, breakfast offerings, and more. Our food is cruelty-free, environmentally conscious, delicious, and anything but boring!
We set out to create a more popular, accessible, and desirable vegan menu, or what we refer to as Vegan 2.0! We use humor, inclusive messaging, sustainable packaging, and the most contemporary, delicious ingredients on the market to appeal to meat-eaters and non-meat eaters alike, and at the same time, make plant-based food more appealing to younger consumers as well!
Vegan 2.0 is about teaching, not preaching. It's about inclusivity, not exclusivity! It's about fun on a bun!
The Market Opportunity
The burger segment is the largest in fast-food, representing about 30%, or over $90 billion of the total US fast-food market of $281 billion. There are over 100,000 burger restaurants in the US alone.
The plant-based food market is on track to be worth $74.2 billion by 2027 with the burger patties segment expected to grow at the highest rate as seen with the 10% increase in demand last year for plant-based burgers (and growing). Burger brands are among the most iconic in fast food, including McDonald's, Burger King, Wendy’s, Carls, and more. According to multiple sources, Americans eat 3 burgers per week, 70% of which are ordered at a fast-food burger joint.
But, major studies show that plant-based diets and reduced meat intake are among the top priorities for Zoomers (Gen Z) and Millennials (which makes up over 150MM of the population), and according to Gallup, nearly one in four people reduced their meat consumption last year.
Honeybee Burger launched in May 2019 with our first “pilot” location in Los Angeles, in a small neighborhood east of Hollywood. We took over a tiny old burger restaurant, with a main floor of about 500 square feet (with about 350sf of storage upstairs), and hidden under an old movie theater marquee. By the end of 2019, sales were growing, and the store grew both sales and profits during the pandemic, despite almost no in-house dining, restricted out-door dining, and delivery apps taking up to 30% commissions! We believe that this performance would have been even more extraordinary in the absence of the pandemic. This model will serve as the template for our new flagship location at 345 La Brea and future locations.
We also launched our first cloud kitchen in March 2020 in West Los Angeles, chosen for its proximity to delivery markets from Beverly Hills and Westwood to downtown Santa Monica. Despite the pandemic, which has shut down these office districts, our location is close to break-even. This framework will serve as the model to open future virtual kitchens that can leverage our brick and mortar brand throughout Southern California, and eventually across the country, as the growth in cloud kitchens continues to increase. [This location will also be paying out 5% of its revenue to Honeybee Burger Inc.]
Honeybee Burger has been featured by Eater Los Angeles: “The Hottest Burgers to Try in LA Right Now” and “14 Essential Vegan Restaurants in Los Angeles,” among other food publications. We have received an average of 4.5 stars across review platforms, have 17k+ Instagram followers, and 17k+ YELP followers.
Metrics from our pilot store have also surpassed the typical burger QSR: Average order values and sales per foot are about double traditional burger QSR’s! Where the average customer spends about $8 when they visit McDonalds ($10 at Wendy's and Burger King), they spend over $20 at Honeybee!
The pilot store also demonstrated efficiency, generating over $1,150 per foot in gross sales, compared to $645 for McDonald's, $555 at Wendy's, and just under $400 for Burger King).
*Honeybee Burger, Inc. acquired the Honeybee intellectual property in February 2021 from Virtuous Food, LLC. Honeybee Burger, Inc. and Virtuous Foods, LLC share the same Founder & CEO, Adam Weiss
What We Do
Honeybee uses the best ingredients available, offering entirely plant-based burgers, fried chicken sandwiches, breakfast sandwiches, wraps, and of course, fries, ice cream, and shakes. Our products are made beautifully, packaged sustainably, and marketed in a way that allows us to leverage our brand so that our customers feel part of something bigger than the burger they just ate.
Today, Honeybee has become a platform for some of the best-known, most delicious plant-based food out there, such as Impossible Foods, Beyond Meat, Atlas Monroe chicken, Akua Kelp patties, JUST Egg, and more. In fact, exciting new brands have sought us out as their fast-food launch partners. This will open up exciting new menu opportunities for us, and with each launch will further distinguish Honeybee from the competition.
The Business Model
By targeting “second generation” restaurants with pre-existing and costly infrastructure already in place, we reduce our construction budgets and development time by 50% or more. This allows us to get locations online and generating revenue months faster than building stores from the ground up.
Our business model was designed to be both scalable and capital efficient. That’s why we're embracing cloud kitchens, so we can more quickly expand our footprint. And we're planning on franchising Honeybees as well, so passionate restaurant operators can do good while they're doing well.
The plant-based food market is on track to be worth $74.2 billion by 2027. Grocery sales of plant-based foods that directly replace animal products have grown 29% from 2017 to 2019. Honeybee will leverage our brand visibility, and our food expertise, to develop branded plant-based food products, for grocery, customers, and other restaurants. Because in the end, we want plant-based food everywhere consumers are making meal decisions.
*The above is a rendering of a future Honeybee burger location. Images are computer generated demo versions. This location is still currently under development.
Honeybee Burger, Inc.’s first new location will be in the heart of Los Angeles and will be approximately 75% owned by Honeybee Burger, Inc., with the other 25% going to legacy investors.
Based on the performance of the existing Honeybee locations, we expect to earn margins of 10-18% on our company-owned stores (brick and mortar + cloud). This includes keeping Prime margins (COGS + Labor) to 60-65%, occupancy of 8-10%, and miscellaneous costs of 8-10%.
How We Are Different
Honeybee is not just another fast-food business. It is a mission-driven fast-food business designed for today’s consumers and tomorrow’s decision-makers.
Unlike other vegan or vegetarian restaurants we’ve seen, our approach to plant-based food is specifically tailored to a broader audience that includes meat-eaters and non-meat eaters alike, and young and old alike. Our branding, design, and even the names of our food specifically embrace a younger demographic: our single burger is called the “Honeybee”; the double is the “Queen Bee”, and our breakfast sandwich is the “Brekky Bee”.
We have also gone to great lengths to avoid all nuts, and we continue to create more gluten-free options while making sure to use sustainable, environmentally friendly packaging.
Ultimately, what separates Honeybee most from the competition is the manifestation of our brand in everything we do: from our in-store design to our menu names, our packaging, our collaborations with new food companies, and finally, our mission: to save the world, one plant-based burger at a time!
We believe that a modern fast food brand focused on plant-based burgers and sides like Honeybee will quickly find its spot in every major US city. Our goal is to establish incumbency to become the de facto plant-based burger joint at airports, sports arenas, high street retail, and even central business districts and malls.
Our goal is to open 4-6 stores within 12 months and have 12-20 stores operating within 24-36 months. If we are able to open these stores, and achieve sales per foot in our brick and mortar stores of $1,200, and also achieve sales from our cloud locations that are slightly stronger than the pandemic-performance from the Colony location, our aim will be to achieve a top line of $15-20MM in 3 years. Longer term, we may look to a potential sale to PE or SPAC or strategic buyer, though we will never lose focus on growing and operating our stores. Of course, if we could follow in the footsteps of giants like McDonalds and Shake Shack, we might go public one day! A bee can dream, after all.
Evidence and data show that the trend toward plant-based dining is worldwide, not just here in the US. If we are able to achieve our goal of becoming a truly iconic fast-food brand here, then we might be able to follow in the footsteps of other famous brands that were born in the US and then expanded internationally.
Ultimately, we consider every burger eaten at Honeybee is one less beef-burger eaten. And if we can do that a billion times, we have a real shot at making a lasting, positive impact on the world.
Founder & CEO, Adam Weiss has a successful 10-year track record of investing in plant-based restaurants and businesses, including Cafe Gratitude, Gracias Madre, vegan snack company Safe + Fair, and even co-founding plant protein company, Plantible Foods in Carlsbad, CA - dedicated to making the most sustainable plant protein in the world.
Weiss realized that Impossible Foods and Beyond Meat were exploding in popularity and were mission-driven, yet there were no fast-food restaurants dedicated to the plant-based burger space that was leveraging or sharing this mission that he could see. Thus, he set out to create Honeybee.
Since then, Weiss has assembled a team that includes Jeremy Adler a 20-year restaurant operator and chef with demonstrated success scaling restaurant operations; Brian Cikigil, an ex-finance professional, who runs the day to day operations; and Ophelia Weiss, a professionally trained designer and ex-Wall Street finance pro, who is involved with all aspects of the store design and customer experience.
Investing in Honeybee is supporting a mission to save the world while being part of the fastest-growing segment in Food and Beverage. We have blended one of the most popular American food segments (burgers) with one of the strongest trends in all of dining (plant-based food). By establishing Honeybee’s incumbency in the plant-based fast-food world, we believe that we will change the eating habits of the next generation of fast-food diners everywhere.
We believe Honeybee has enormous potential to grow locally, regionally, nationally, and internationally, through company-owned stores and franchisees, driven by the increasing demand for plant-based food, especially among millennials and Gen Z!
We'd love to have you join the Hive. You will BEE part of something bigger. You can BEE part of the solution. Invest in something that you can genuinely BEE proud of.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
Honeybee Burger is a 100% plant-based food company that is aiming to become an iconic national fast-food brand. Our mission is to help save the planet by getting more people to choose plant-based food over animal-based food by focusing on America’s most popular and iconic fast-food: burgers!
When Jeremy became General Manager at EN Japanese Brasserie in NYC and Eveleigh in Los Angeles, he led both restaurants to more than double their revenue. After the birth of his daughter, Annabella, Jeremy became a Hospitality Consultant for numerous Los Angeles area hospitality businesses, including Shutters on the Beach, Chateau Marmont & Venice Ale House.
Jeremy was there at the beginning, helping design the menu and manage the operations of the Honeybee pilot store in Los Feliz.
Jeremy continues to work on the menu, refining recipes and creating new menu items. He also helps to manage the development of new locations.
Brian is a career finance professional, focusing on operations and reporting, and has worked on Wall Street and in California for several noteworthy firms. He is familiar with multiple technology platforms used in financial reporting, and has acted in the role of technology integration for several firms, including for Honeybee.
Brian is primarily responsible for daily operations of Honeybee stores and corporate activities outside the kitchen. This includes all technology integration (apps, comms, POS), as well as HR, logistics, and marketing and promotions, specifically through third party delivery apps.
Ophelia designed the inital and distinctive template for Honeybee with the specific goal of appealing to women and young families while embracing our unique ethos. Her use of bright color blocks, natural/organic elements, and 8-bit visuals has created one of the most iconic brands in fast food.
Kitchen Operations Manager
Jorge joined Honeybee after our launch and was integral in helping streamline prep, food ordering and inventory management. He is responsible for all kitchen management and back of house operations, including COGS management and menu optimization. Jorge also leads our recruiting, training, and managing of BOH staff.
Jorge's energy and passion for cooking has made him an excellent and passionate team member, and he will be deeply involved in the opening of new stores, kitchen management, and menu development and execution.
Maximum Number of Shares Offered subject to adjustment for bonus shares
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
Friends and Family Early Birds
Invest within the first 48 hours and receive additional 20% bonus shares.
Super Early Bird Bonus
Invest within the first week and receive additional 15% bonus shares.
Early Bird Bonus
Invest within the first two weeks and receive an additional 10% bonus shares.
$250 | Hive Class
$25 food credit + Access to special discount codes and promotions.
$500 | Colony Class
5% bonus shares + $75 food credit + Access to special discount codes and promotions.
$1,000 | Swarm Class
7% bonus shares + $100 food credit + Honeybee hoodie + Access to special discount codes and promotions.
$2,500 | Apiary Class
10% bonus shares + $150 food credit + Honeybee limited edition track jacket + Access to special discount codes and promotions.
$5,000 | Beekeeper Class
12% bonus shares + $150 food credit + Honeybee limited edition track jacket + One year (non transferable) 25% discount (up to $1,000 net) + Access to special discount codes and promotions.
$10,000 | Queen Bee Class
15% bonus shares + $150 food credit + Honeybee limited edition track jacket + One year (non transferable) 50% discount (up to $1,000 net) + Access to special discount codes and promotions.
*All perks occur when the offering is completed.
Honeybee Burger Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $1.20 / share, you will receive 10 additional Common Stock shares, meaning you'll own 110 shares for $120. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Inter company debt or back payments. Salary payments made to one’s self, a friend or relative.
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