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Steel Masters

Steel Masters Manama, Bahrain

Equity
Amount Raised
$60,000.000
Goal
$60,000.000
100% Investments
0 Days left
100% Complete (success)

This Campaign is open for both accredited & no-accredited Investors.

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Steel Masters

Steel Masters Manama, Bahrain

Raise Details

Fixed Investing This Campaign started on January 3, 2023 and closed on April 3, 2023, 9:00 pm.
(UTC/GMT 03 Apr,2023 21:00 pm)
  • Campaign Deal Type
    Equity
  • Investing Goal
    $60,000.000
  • Current Reservations
    $60,000.000
  • Minimum Reservation
    $100.000
  • Start Date
    01-04-2023
  • Closing Date
    04-04-2023

Elevator Pitch

A manufacturer of customized barbeque equipments, grills, smokers, food trucks, and food buses.

Cap Table

Sr. NO Investor Name Pre-investment (%) Post-investment (%)
1 Mahdi Taheri 50.000 36.000
2 Husain Yusuf 50.000 36.000
3 TV show investor(s) 0.000 20.000
4 Incoming investor(s) 0.000 8.000

Company Overview

Company stage: Growth Funding

Steel Masters is a manufacturer of customized barbeque equipments, grills, smokers, food trucks, and food buses.

How the story began?

Whilst Mahdi was employed as a Chef, he quickly realized the lack of available commercial heavy-duty Smokers and BBQ equipment. Given his passion in this field, in 2018, he began manufacturing customized barbeque equipment out of his house which quickly gained traction from BBQ fanatics and restaurants. ​

Due to the rapid growth in sales during the testing phase, Mahdi decided to commercialize the concept and brought Husain as a co-founder to support the expansion of the business whereby they relocated the manufacturing facility from Mahdi’s house (150sqm) to a workshop that comprises of over 650sqm today. ​

The team have since expanded their product line to incorporate other steel manufacturing items that cater to the construction industry.

Product Description:

Customization, manufacturing and distribution of heavy-duty BBQ products and smokers for commercial and personal use.​

Custom-made commercial steel products.

Target Audience:

Corporates: Restaurants and Hotels

Individuals: BBQ fanatics - price for money fanatics

Revenue streams:

Primary Revenue Streams: 

BBQ Product lines that range between BD 200 and BD 4,000. This includes: ​

Offset smokers (8 subproducts)​

Santa Maria BBQ smokers (9 subproducts)​

Manqal (3 subproducts)​

Sangak (2 subproducts)​

Ovens (3 subproducts)

Secondary / Other Revenue Streams:

Fit-out and customizations of BBQ products to fit commercial premises.

Fit-out and customization of Food trucks, Containers and Buses. 

Use of Funds: 

USD 21,000 (10%) - Hiring of sales, marketing and finance departments 

USD 42,000 (20%) - GCC expansion (Meeting regulatory requirements): Legal, products certifications, and negotiating contracts with distributors (prepayment)

USD 42,000 (20%) - Purchase of raw materials 

USD 84,000 (40%) - Purchase additional machinery

USD 21,000 (10%) – Marketing

Growth Plan:

1. Pursue ISO certifications for quality management systems and building creditability 

2. Manufacture and distribute BBQ products globally

3. Automate the product line to increase efficiency and reduce costs per unit

4. Distribute BBQ equipment through regional distributors

Connect with Company

Leadership

Mahdi & Husain

Leadership

Company
Mahdi Taheri

The leader

Co-Founder & CEO
Husain Yusuf

The leader

Co-Founder & COO

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