Benny's Hangar Limited
By Ben Scott
NZ $29,150 pledged
36 people pledged
19 days left
NZ $750,000 minimum target
Pledges will only be confirmed if the target is reached by: 22/05/2024 at 8:00 PM (NZST)
Make a PledgeAbout
Benny's Hangar Limited
Built in 1946 to house Defence Force planes, the hangar has sat sad and empty for years - used as a storage space... But we want to turn it into an all-ages, all-weather, affordable entertainment venue in Christchurch.
Meet Ben.
Lover of spray paint, a good yarn and a good challenge.
When he took the first walk-through of the hangar in 2023, his spaghetti mind exploded with ideas for the space.
A playground for all ages; a space for community; a space to connect away from technology.
For those that don't know him, Ben started Benny’s Barber Shop 10 years ago when a knee injury halted his building apprenticeship. He started in his parents' sleep-out, moving into their front lawn with caravans before growing to open the HQ! His passion for supporting community & encouraging a positive narrative around mental health has been reflected in everything he’s set his mind to. Deloitte also named Benny's Barber Shop as their Rising Star in 2019.
Read our full Information Memorandum (IM) here
Recent development of Christchurch has offered more entertainment venues, but many of these are one-dimensional, age-restricted or priced as such that they become a special occasion-only type of outing. There are more than 140,000 people in the 15-39 demographic in Christchurch, and Canterbury has the second-highest spending region in NZ for recreation and culture.
We want to bring an all ages, all weather, affordable space that you can enjoy with your family, friends or even work colleagues.
Read more about the Market in our IM
Two-hour sessions, five days a week rotational activities something for everyone!
For just $40pp or $100 for a Family Pass (2 adult and 2 under 14).
Read our full IM for more on how it will roll here
A year of hard work, sweat, and tears the hangar now has a:
• 400sqm mezzanine
• fully indoor skate park &
• constructed (albeit unfinished) toilet block
We have hand-picked our incredible core staffing, Two Thumb Brewing & Hancock's are on board for our bar offering, and we built our pizza shack food truck.
We have a 6-year lease, with the option of adding up to 12 years after the initial 6-year period. Ben has already fronted close to $500,000 to get this far.
We are looking to equity crowdfund a minimum of $750,000 to finish this colossal project and get the doors open to the people of Christchurch.
Use of Funds
Raising the minimum of $750,000 will allow us to open the doors to the public with minor tweaks to follow as income allows. If we were to raise $850,000 it would allow for more contractors onsite for a quicker turnaround of fit-out and allow the minor tweaks to happen pre-opening.
• Fit Out + Finishing Construction - $650,000
• Hospitality Offering - $35,000
• Capital Raise Costs - $65,000
The Offer
We are offering a minimum of 750,000 to a maximum of 850,000 non-voting Investor shares.
Investor shares have the same rights as ordinary shares in terms of dividends and other distributions, but they do not have the right to vote on ordinary business matters. However, these ‘non-voting’ investor shares still have the right to vote in specific circumstances:
• decisions that affect the rights attached to the investor shares
• decisions to put the company into liquidation
• for the disposal of the whole, or a material part of the property, business and undertaking of the company.
For all rights, please refer to the company constitution.
Read more about the offer in our full IM here
The projections for FY25 are commenced from term 3 of the school calendar (August). This could increase with an earlier open date for the hangar! Our projections in the IM show our session projections during term and school break, as well as our full forecasts and our current balance sheet.
• Loss of Key Staff - Our staffing will be cross-trained, so that should we have illness, injury or indeed a staff member leave, there is not a gap in skills present.
• Cashflow Issues - Our business is wage heavy which means we will have tight COG’s on Food & Beverage; these will be diligently managed by our GM as we aim to keep these below 35% - the projections have accounted for a ‘blow out’ in these COG’s for the first year.
• Economic Downturn - As stated above, with the business being wage-heavy we have sample staffing scenarios for quieter sessions and days to save on wages, our COGs around F&B would also decrease as these are proportionate to patrons spending.
• Health & Safety - We have an extensive WHS Plan in place having worked with WorkSafe and an independent advisor. Our staff will be trained using these protocols and recording processes with the Activity Manager carrying out thorough checks each day, throughout the day. We have action plans should an emergency occur; patron/staff injury or natural disaster & all staff will be trained in these responses.
• Downturn in Patronage - we have anticipated days/weeks of patronage downturn throughout the year and how to control the cogs to keep these weeks sustainable should we have to.
Note from PledgeMe
We have completed Equifax checks on Benny's Hangar Limited and their Director, as well as Google and Insolvency checks. There were no adverse findings.
Updates 1
An update from us here at Benny's Hangar
26/04/2024 at 1:16 PM
Happy Friday Pledgers!
Firstly we'd like to take the time to say THANK YOU to those who have jumped on and pledged in the first week.
One of those investors was 11-year-old Sam, a Reefton local and scooter lad! Ben and Jack headed over to the Coast to surprise Sam and say thank you in person - cutting some laps on the Reefton Skate Park and a fresh lid for Sam! Part 1 of the boys trip is up.
Secondly, as a community you have come to us and said that you'd love to see another tier of investment - so here it is! From $50, you can own your own piece of the Hangar! We truly want this to be: FOR the community, owned BY the community!
Cheers,
Ben & Meg
Details
Offer Details
| Current Valuation | 1,500,000 |
| Raise Minimum | 750,000 |
| Raise Maximum | 850,000 |
| Share Price | 1.00 |
| Minimum Pledge | 50.00 |
| Maximum Shares Offered | 850,000 |
Explanation of valuation:
based upon an EBITDA multiplier of 3.5 on current year projections. Our projections are based on calculated patronage numbers and food & beverage consumption. These projections are without the consideration of function hire sales and we believe they remain conservative.
Company Details
Company Name: Benny's Hangar Limited
Company Number: 9429051260507
Company Documents
(application/pdf, 56.3 MB, uploaded 26 April 2024)
Constitution_-_Benny's_Hangar_Limited.pdf
(application/pdf, 153 KB, uploaded 21 April 2024)
Certificate_of_Incorporation_-_Benny's_Hangar_Ltd.pdf
(application/pdf, 588 KB, uploaded 21 April 2024)
Company_Extract_-_Benny's_Hangar_Ltd.pdf
(application/pdf, 392 KB, uploaded 21 April 2024)
Director Details
| Name | Role | Profile URL | Invested? |
|---|---|---|---|
| Benjamin Luke Scott | Managing Director | https://www.instagram.com/bennys_hq/ | ✔ |
Questions 9
Ask a Question (You must login to ask a question)
Hi Meg, thanks for answering my question and further to your answer to Jason below, I am keen to understand how issuing more shares via PledgeMe raises what the company is worth? I understand that the number of shares on issue increases from 1,500,000 to 2,250,000 but what value does that bring the company to make it worth more?
Posted on 02-05-2024 by GeorgeKia ora George,
Anna here from PledgeMe responding. The company will be worth more because the cash coming in from the investment round increases the valuation. If you'd like to learn a bit more about how this works, here's a good Investopedia article on the difference between pre-money valuations (what a company is worth before they raise investment) and post-money valuation (what they're worth once the funds are raised): https://www.investopedia.com/ask/answers/difference-between-premoney-and-postmoney/
Feel free to email me on [email protected] if you have anymore questions on this specific question :)
Cheers,
Anna
Answered on 02-05-2024 by Ben Scott
Hi guys - I also had the same question as George below RE the valuation but your response is confusing. For $750K you are giving away 33% of the company, which suggests you are valuing the company at $2.25M. Sorry if I am missing something here. Cheers.
Posted on 01-05-2024 by JasonKia Ora Jason! I’m going to try and explain Page 18 of the IM a bit better;
The business is valued at $1.5m pre-PledgeMe raise.
To raise investment we have to offer up new shares in the business. If we hit our minimum goal, we will issue a minimum of 750,000 new shares at $1 per share meaning that the company worth after the PledgeMe raise will be $2.25m.
The confusing part is in a traditional market you’d be buying the shares that already exist in the company, but in that case the money goes to the owner of those shares not the company. With equity raising we issue new shares which in turn raises what the company is worth afterwards.
I hope I’ve explained this well! - Meg
Answered on 03-05-2024 by Ben Scott
Hey Guys,
With regards to the $402k owing, what was the original plan to fund this prior to commencing the work? Were there other funding arrangements in place that have subsequently fallen over?
Thanks
Heya thanks for the question!
A blow out in costs to open the doors and an under estimation of the work to complete a fit out in a heritage building meant we had to look at other ways to fund this project.
Cheers.
Ben
Answered on 01-05-2024 by Ben Scott
Hi, the IM stated the business is valued at 1.5m which i assume is based on FY'25 projected EBITDA with a 3.5x multiplier rounded up.
1. Whats the rationale of a 3.5x multiplier?
2.The equity raise of $750k is half the projected value of the company, but pledgers only receive 33% of the shares, which would imply the value of the company is $2.25m or 5.28x projected FY'25 EBITDA? Can you explain that variance?
Thanks
Posted on 01-05-2024 by GeorgeMorning George, thanks for your questions!
1. Having worked with an independent financial advisor, market research and advice within the industry, the lower multiplier of 3.5x was recommended.
2. Page 18 of the IM shows how the shares work into % of ownership. With the business valued at $1.5m (1.5m shares), we then have to introduce the new investor shares which put the share numbers to 2.25m should we raise $750k, 2.35m should we raise $850k.
The introduction of more shares does not increase the value of the company.
I hope this helps!
- Meg
Answered on 01-05-2024 by Ben Scott
Hey. So if $572000 of the $750000 you are asking for is to pay off outstanding invoices then this is for work already done yes? Which then leaves $178000 to go for more work not yet done?
Also i heard that the figures said at your hanger meeting on Weds a week or so ago were that you had invested $400000 and you needed $350000 to finish. Could you advice how this fits into the above $s please?
Good Morning Malcolm, I hope to answer both of these in one go -
As at 1st March this year;
Works completed and fully paid by Ben: $495,000
Work completed and awaiting payment: $402,000
Amount to completion: $228,000
As these numbers come from March, they have changed in the weeks that have passed with invoices paid and the investment by Ben therefore increasing.
- Meg
Answered on 01-05-2024 by Ben Scott
Hi Ben, do you have further information on A) the 471k of current assets and B) further information on what costs are included in the 1.25mil setup cost?
Posted on 30-04-2024 by Michael DewarHI Michael;
A) the current assets of $471k come under the building fit-out and amendments that have been made to to the Hangar for it to be fit for purpose - alarms, fire safety, lighting.
B) Set-up costs include materials, contractors, safety equipments (such as netting for jump line), finishing of the hospitality offerings including stock, door construction, amenities and finishing.
Answered on 30-04-2024 by Ben Scott
Question does the investor get anything out of this ? Thanks Kaz
Posted on 29-04-2024 by KazHey Kaz! The investor gets their own shares in the Hangar, each tier with it's own benefits and the possibility of those shares becoming dividends in the future years!
Answered on 30-04-2024 by Ben Scott
Thanks for answering that Ben.
The 'close to $500,000' you invested + the $572,000 of outstanding invoices means you have spent just over $1 million so far on the setup. Is that correct?
Would you consider having more tiers? It would be nice to see better perks for people willing to invest 10k or more. Thanks - Denise
Posted on 23-04-2024 by DeniseKia Ora Denise, Yes that is correct, the estimated finishing costs is close to the $1.25m mark. Tier C for $5,000+ offers a 25% personalised food & beverage card, BoYB & percentage discount on Full Venue Hire - as essentially a start-up, those are the perks we can offer at this stage whilst we encourage and foster growth in the company.
Answered on 23-04-2024 by Ben Scott
Hi there. The $572,000 of liabilities on the balance sheet - what is that made up of and will the investment go towards paying that off? I'm very interested in investing but that seems like a big amount to have. Thanks! Denise
Posted on 22-04-2024 by DeniseKia Ora Denise, $572,000 of liabilities on the balance sheet is made up of; invoices outstanding to finish the fit-out of the Hangar. With it being such a HUGE build it does indeed look daunting on paper - yes some of the investment will pay down those invoices to allow us to progress further in the build and get the doors open (get them built and propped up first too!)
Answered on 23-04-2024 by Ben Scott
Pledgers 36
03/05/2024 at 7:46pm
03/05/2024 at 12:08pm
"Looking forward to this Benny!"
03/05/2024 at 8:08am
"Such a cool project, all the best"
02/05/2024 at 3:17pm
02/05/2024 at 9:41am
02/05/2024 at 8:22am
02/05/2024 at 8:05am
"Good work boys,inside skate park is long over due😎"
02/05/2024 at 1:21am
"Excited to support this awesome project and get Skatebirds in there having some fun! "
02/05/2024 at 12:20am
01/05/2024 at 5:45pm
01/05/2024 at 5:16pm
01/05/2024 at 1:53pm
"Love your work Benny, such a good thing your doing 🫶"
30/04/2024 at 8:57pm
30/04/2024 at 8:31pm
30/04/2024 at 7:17pm
"Go you legends go!"
30/04/2024 at 4:07pm
"All the best! Sydney and David "
30/04/2024 at 3:33pm
30/04/2024 at 1:27pm
"Good luck team. Will give more when I can 💙"
30/04/2024 at 1:21pm
"Looks awesome"
30/04/2024 at 1:08pm
29/04/2024 at 9:05pm
29/04/2024 at 1:12pm
"Brilliant idea, love to support it!"
29/04/2024 at 12:49pm
"Exciting times ahead - such a great idea. All the best. "
28/04/2024 at 5:59pm
"Good luck Benny! P.S, Split wants to know if she can come in for a treat 😉🐕🦺"
28/04/2024 at 4:56pm
"Thanks for making such an awesome place to play!! I am so proud of you. Love from Charlotte O’Malley xx"
28/04/2024 at 4:01pm
"This will be an epic facility in chch!"
27/04/2024 at 10:12pm
"All us boys here at Barber &Co owe it to Benny! If it wasn’t for him giving us our first first jobs we all wouldn’t be here . "
25/04/2024 at 2:03pm
"Happy to back such a gutsy initiative, and a proud Coaster. 👏👏👏"
24/04/2024 at 11:25am
"Good luck Benny . Hope you can get all of the money to keep this moving forward "
23/04/2024 at 9:56am
"Be epic for Chch!! Gotta make it happen"
Followers 4
Followers of Benny's Hangar Limited
Benny's Hangar Limited
Built in 1946 to house Defence Force planes, the hangar has sat sad and empty for years - used as a storage space... But we want to turn it into an all-ages, all-weather, affordable entertainment venue in Christchurch.
Meet Ben.
Lover of spray paint, a good yarn and a good challenge.
When he took the first walk-through of the hangar in 2023, his spaghetti mind exploded with ideas for the space.
A playground for all ages; a space for community; a space to connect away from technology.
For those that don't know him, Ben started Benny’s Barber Shop 10 years ago when a knee injury halted his building apprenticeship. He started in his parents' sleep-out, moving into their front lawn with caravans before growing to open the HQ! His passion for supporting community & encouraging a positive narrative around mental health has been reflected in everything he’s set his mind to. Deloitte also named Benny's Barber Shop as their Rising Star in 2019.
Read our full Information Memorandum (IM) here
Recent development of Christchurch has offered more entertainment venues, but many of these are one-dimensional, age-restricted or priced as such that they become a special occasion-only type of outing. There are more than 140,000 people in the 15-39 demographic in Christchurch, and Canterbury has the second-highest spending region in NZ for recreation and culture.
We want to bring an all ages, all weather, affordable space that you can enjoy with your family, friends or even work colleagues.
Read more about the Market in our IM
Two-hour sessions, five days a week rotational activities something for everyone!
For just $40pp or $100 for a Family Pass (2 adult and 2 under 14).
Read our full IM for more on how it will roll here
A year of hard work, sweat, and tears the hangar now has a:
• 400sqm mezzanine
• fully indoor skate park &
• constructed (albeit unfinished) toilet block
We have hand-picked our incredible core staffing, Two Thumb Brewing & Hancock's are on board for our bar offering, and we built our pizza shack food truck.
We have a 6-year lease, with the option of adding up to 12 years after the initial 6-year period. Ben has already fronted close to $500,000 to get this far.
We are looking to equity crowdfund a minimum of $750,000 to finish this colossal project and get the doors open to the people of Christchurch.
Use of Funds
Raising the minimum of $750,000 will allow us to open the doors to the public with minor tweaks to follow as income allows. If we were to raise $850,000 it would allow for more contractors onsite for a quicker turnaround of fit-out and allow the minor tweaks to happen pre-opening.
• Fit Out + Finishing Construction - $650,000
• Hospitality Offering - $35,000
• Capital Raise Costs - $65,000
The Offer
We are offering a minimum of 750,000 to a maximum of 850,000 non-voting Investor shares.
Investor shares have the same rights as ordinary shares in terms of dividends and other distributions, but they do not have the right to vote on ordinary business matters. However, these ‘non-voting’ investor shares still have the right to vote in specific circumstances:
• decisions that affect the rights attached to the investor shares
• decisions to put the company into liquidation
• for the disposal of the whole, or a material part of the property, business and undertaking of the company.
For all rights, please refer to the company constitution.
Read more about the offer in our full IM here
The projections for FY25 are commenced from term 3 of the school calendar (August). This could increase with an earlier open date for the hangar! Our projections in the IM show our session projections during term and school break, as well as our full forecasts and our current balance sheet.
• Loss of Key Staff - Our staffing will be cross-trained, so that should we have illness, injury or indeed a staff member leave, there is not a gap in skills present.
• Cashflow Issues - Our business is wage heavy which means we will have tight COG’s on Food & Beverage; these will be diligently managed by our GM as we aim to keep these below 35% - the projections have accounted for a ‘blow out’ in these COG’s for the first year.
• Economic Downturn - As stated above, with the business being wage-heavy we have sample staffing scenarios for quieter sessions and days to save on wages, our COGs around F&B would also decrease as these are proportionate to patrons spending.
• Health & Safety - We have an extensive WHS Plan in place having worked with WorkSafe and an independent advisor. Our staff will be trained using these protocols and recording processes with the Activity Manager carrying out thorough checks each day, throughout the day. We have action plans should an emergency occur; patron/staff injury or natural disaster & all staff will be trained in these responses.
• Downturn in Patronage - we have anticipated days/weeks of patronage downturn throughout the year and how to control the cogs to keep these weeks sustainable should we have to.
Note from PledgeMe
We have completed Equifax checks on Benny's Hangar Limited and their Director, as well as Google and Insolvency checks. There were no adverse findings.
An update from us here at Benny's Hangar
26/04/2024 at 1:16 PM
Happy Friday Pledgers!
Firstly we'd like to take the time to say THANK YOU to those who have jumped on and pledged in the first week.
One of those investors was 11-year-old Sam, a Reefton local and scooter lad! Ben and Jack headed over to the Coast to surprise Sam and say thank you in person - cutting some laps on the Reefton Skate Park and a fresh lid for Sam! Part 1 of the boys trip is up.
Secondly, as a community you have come to us and said that you'd love to see another tier of investment - so here it is! From $50, you can own your own piece of the Hangar! We truly want this to be: FOR the community, owned BY the community!
Cheers,
Ben & Meg
Offer Details
| Current Valuation | 1,500,000 |
| Raise Minimum | 750,000 |
| Raise Maximum | 850,000 |
| Share Price | 1.00 |
| Minimum Pledge | 50.00 |
| Maximum Shares Offered | 850,000 |
Explanation of valuation:
based upon an EBITDA multiplier of 3.5 on current year projections. Our projections are based on calculated patronage numbers and food & beverage consumption. These projections are without the consideration of function hire sales and we believe they remain conservative.
Company Details
Company Name: Benny's Hangar Limited
Company Number: 9429051260507
Company Documents
(application/pdf, 56.3 MB, uploaded 26 April 2024)
Constitution_-_Benny's_Hangar_Limited.pdf
(application/pdf, 153 KB, uploaded 21 April 2024)
Certificate_of_Incorporation_-_Benny's_Hangar_Ltd.pdf
(application/pdf, 588 KB, uploaded 21 April 2024)
Company_Extract_-_Benny's_Hangar_Ltd.pdf
(application/pdf, 392 KB, uploaded 21 April 2024)
Director Details
| Name | Role | Profile URL | Invested? |
|---|---|---|---|
| Benjamin Luke Scott | Managing Director | https://www.instagram.com/bennys_hq/ | ✔ |
Ask a Question (You must login to ask a question)
Hi Meg, thanks for answering my question and further to your answer to Jason below, I am keen to understand how issuing more shares via PledgeMe raises what the company is worth? I understand that the number of shares on issue increases from 1,500,000 to 2,250,000 but what value does that bring the company to make it worth more?
Posted on 02-05-2024 by GeorgeKia ora George,
Anna here from PledgeMe responding. The company will be worth more because the cash coming in from the investment round increases the valuation. If you'd like to learn a bit more about how this works, here's a good Investopedia article on the difference between pre-money valuations (what a company is worth before they raise investment) and post-money valuation (what they're worth once the funds are raised): https://www.investopedia.com/ask/answers/difference-between-premoney-and-postmoney/
Feel free to email me on [email protected] if you have anymore questions on this specific question :)
Cheers,
Anna
Answered on 02-05-2024 by Ben Scott
Hi guys - I also had the same question as George below RE the valuation but your response is confusing. For $750K you are giving away 33% of the company, which suggests you are valuing the company at $2.25M. Sorry if I am missing something here. Cheers.
Posted on 01-05-2024 by JasonKia Ora Jason! I’m going to try and explain Page 18 of the IM a bit better;
The business is valued at $1.5m pre-PledgeMe raise.
To raise investment we have to offer up new shares in the business. If we hit our minimum goal, we will issue a minimum of 750,000 new shares at $1 per share meaning that the company worth after the PledgeMe raise will be $2.25m.
The confusing part is in a traditional market you’d be buying the shares that already exist in the company, but in that case the money goes to the owner of those shares not the company. With equity raising we issue new shares which in turn raises what the company is worth afterwards.
I hope I’ve explained this well! - Meg
Answered on 03-05-2024 by Ben Scott
Hey Guys,
With regards to the $402k owing, what was the original plan to fund this prior to commencing the work? Were there other funding arrangements in place that have subsequently fallen over?
Thanks
Heya thanks for the question!
A blow out in costs to open the doors and an under estimation of the work to complete a fit out in a heritage building meant we had to look at other ways to fund this project.
Cheers.
Ben
Answered on 01-05-2024 by Ben Scott
Hi, the IM stated the business is valued at 1.5m which i assume is based on FY'25 projected EBITDA with a 3.5x multiplier rounded up.
1. Whats the rationale of a 3.5x multiplier?
2.The equity raise of $750k is half the projected value of the company, but pledgers only receive 33% of the shares, which would imply the value of the company is $2.25m or 5.28x projected FY'25 EBITDA? Can you explain that variance?
Thanks
Posted on 01-05-2024 by GeorgeMorning George, thanks for your questions!
1. Having worked with an independent financial advisor, market research and advice within the industry, the lower multiplier of 3.5x was recommended.
2. Page 18 of the IM shows how the shares work into % of ownership. With the business valued at $1.5m (1.5m shares), we then have to introduce the new investor shares which put the share numbers to 2.25m should we raise $750k, 2.35m should we raise $850k.
The introduction of more shares does not increase the value of the company.
I hope this helps!
- Meg
Answered on 01-05-2024 by Ben Scott
Hey. So if $572000 of the $750000 you are asking for is to pay off outstanding invoices then this is for work already done yes? Which then leaves $178000 to go for more work not yet done?
Also i heard that the figures said at your hanger meeting on Weds a week or so ago were that you had invested $400000 and you needed $350000 to finish. Could you advice how this fits into the above $s please?
Good Morning Malcolm, I hope to answer both of these in one go -
As at 1st March this year;
Works completed and fully paid by Ben: $495,000
Work completed and awaiting payment: $402,000
Amount to completion: $228,000
As these numbers come from March, they have changed in the weeks that have passed with invoices paid and the investment by Ben therefore increasing.
- Meg
Answered on 01-05-2024 by Ben Scott
Hi Ben, do you have further information on A) the 471k of current assets and B) further information on what costs are included in the 1.25mil setup cost?
Posted on 30-04-2024 by Michael DewarHI Michael;
A) the current assets of $471k come under the building fit-out and amendments that have been made to to the Hangar for it to be fit for purpose - alarms, fire safety, lighting.
B) Set-up costs include materials, contractors, safety equipments (such as netting for jump line), finishing of the hospitality offerings including stock, door construction, amenities and finishing.
Answered on 30-04-2024 by Ben Scott
Question does the investor get anything out of this ? Thanks Kaz
Posted on 29-04-2024 by KazHey Kaz! The investor gets their own shares in the Hangar, each tier with it's own benefits and the possibility of those shares becoming dividends in the future years!
Answered on 30-04-2024 by Ben Scott
Thanks for answering that Ben.
The 'close to $500,000' you invested + the $572,000 of outstanding invoices means you have spent just over $1 million so far on the setup. Is that correct?
Would you consider having more tiers? It would be nice to see better perks for people willing to invest 10k or more. Thanks - Denise
Posted on 23-04-2024 by DeniseKia Ora Denise, Yes that is correct, the estimated finishing costs is close to the $1.25m mark. Tier C for $5,000+ offers a 25% personalised food & beverage card, BoYB & percentage discount on Full Venue Hire - as essentially a start-up, those are the perks we can offer at this stage whilst we encourage and foster growth in the company.
Answered on 23-04-2024 by Ben Scott
Hi there. The $572,000 of liabilities on the balance sheet - what is that made up of and will the investment go towards paying that off? I'm very interested in investing but that seems like a big amount to have. Thanks! Denise
Posted on 22-04-2024 by DeniseKia Ora Denise, $572,000 of liabilities on the balance sheet is made up of; invoices outstanding to finish the fit-out of the Hangar. With it being such a HUGE build it does indeed look daunting on paper - yes some of the investment will pay down those invoices to allow us to progress further in the build and get the doors open (get them built and propped up first too!)
Answered on 23-04-2024 by Ben Scott
Followers of Benny's Hangar Limited
03/05/2024 at 7:46pm
03/05/2024 at 12:08pm
"Looking forward to this Benny!"
03/05/2024 at 8:08am
"Such a cool project, all the best"
02/05/2024 at 3:17pm
02/05/2024 at 9:41am
02/05/2024 at 8:22am
02/05/2024 at 8:05am
"Good work boys,inside skate park is long over due😎"
02/05/2024 at 1:21am
"Excited to support this awesome project and get Skatebirds in there having some fun! "
02/05/2024 at 12:20am
01/05/2024 at 5:45pm
01/05/2024 at 5:16pm
01/05/2024 at 1:53pm
"Love your work Benny, such a good thing your doing 🫶"
30/04/2024 at 8:57pm
30/04/2024 at 8:31pm
30/04/2024 at 7:17pm
"Go you legends go!"
30/04/2024 at 4:07pm
"All the best! Sydney and David "
30/04/2024 at 3:33pm
30/04/2024 at 1:27pm
"Good luck team. Will give more when I can 💙"
30/04/2024 at 1:21pm
"Looks awesome"
30/04/2024 at 1:08pm
29/04/2024 at 9:05pm
29/04/2024 at 1:12pm
"Brilliant idea, love to support it!"
29/04/2024 at 12:49pm
"Exciting times ahead - such a great idea. All the best. "
28/04/2024 at 5:59pm
"Good luck Benny! P.S, Split wants to know if she can come in for a treat 😉🐕🦺"
28/04/2024 at 4:56pm
"Thanks for making such an awesome place to play!! I am so proud of you. Love from Charlotte O’Malley xx"
28/04/2024 at 4:01pm
"This will be an epic facility in chch!"
27/04/2024 at 10:12pm
"All us boys here at Barber &Co owe it to Benny! If it wasn’t for him giving us our first first jobs we all wouldn’t be here . "
25/04/2024 at 2:03pm
"Happy to back such a gutsy initiative, and a proud Coaster. 👏👏👏"
24/04/2024 at 11:25am
"Good luck Benny . Hope you can get all of the money to keep this moving forward "
23/04/2024 at 9:56am
"Be epic for Chch!! Gotta make it happen"
I want to embed this investment somewhere
