Forever Yogurt, a franchise company, may be able to claim first to advertise an offering by using outdoor advertising. The company is advertising a convertible debt offering in downtown Chicago. The “very pink” billboard off of Ohio Street announced that Forever Yogurt is raising capital. The offer reads “Invest $10,000, get 9% APR plus an equity option,” they are raising funds under the new rules governing 5o6c private placements.
Forever Yogurt is selling up to 50 percent of the company for $2.5 million, from either a single investor or multiple partners. The young company, which apparently has become a prominent frozen yogurt brand in the Midwest, is offering convertible notes that can be converted into equity after 2 years at a 25% discount.
“Our company is raising funds in many new ways,” says Mandy Calara, Franchise CEO. “Not only are we making our investment opportunities known to the public, but we are also the first to push community model franchising.”
In November 2013, Forever Yogurt was the first company to list their franchises on CrowdFranchise – an online crowdfunding source specifically for franchise brands.
Although these investment opportunities are still only limited to accredited investors, when JOBS Act Title III takes effect in early 2014, Forever Yogurt plans on opening investment opportunities to all who are interested. This will only strengthen Forever Yogurt’s new community focus.
Forever Yogurt has 21 locations operating and 40 planned for 2014 in the US, Panama, China, and India. The first shop opened in Chicago in 2010.
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