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May 26, 2024, 11:31 pm UTC

99-0435703 | Government Grant Application

RaeCo Coffee LLC | Application Preview

  • General Information

    Business Registration Number: 99-0435703

    Location: Hope Mills, NC, United States

    Length of Operation: 1-5

    Number of Employees: 1-10 Employees

    Annual Gross Income: Less than $100k

    Annual Gross Expense: Less than $100k

    Open to Loans: YES

  • Funding Usage

    Trailer Needs - Fabrication and refit of gray water tank and release valve (~$950) - Fabrication and refit of clean water tank fill valve (~200) - Order and Service Window (~$1000) - Electrical refit throughout the trailer for safer operation (~$5000) - Roof sealent and application (~$250) - Ventilation system repair (~$5000) - 12-month lease of NC Food Commissary space ($300/month = $3600) Vehicle - Vehicle to provide towing and daily transportation operations (est. $34,000)

  • Business Plan

    Phase Ib: Coffee Trailer Renovation and Vehicle Purchase ($50,000; [2024]) - Funding for trailer and equipment paid through partner contributions. The business began without any loans creating revenue with every sale of coffee or merchandise. - We conducted a “soft opening” on November 27, 2021, providing tastings and samples for potential investors. The event took place at 403 N. Fulton St., Raeford, and was open to family and friends that have expressed interest in investing in the company. - The Grand Opening was at the December 3, 2021, Hometown Christmas event that took place in Downtown Raeford. - $50,000 put into the trailer renovation and purchase of a business vehicle would enable us to prepare and serve foods alongside our beverages and reliably move our trailer to events in the area. Phase II: Coffee Shop (Approximately $300,000 to full-functioning establishment; 1-3 years post business opening [2025-2027]) - Financing will be coordinated through a combination of procured revenue from sales from the coffee trailer, investors, potential other partners, and financing (if necessary). The partners will establish a savings account solely allocated for building purchase and aim to put as much down on the purchase of a brick-and-mortar building as possible. Phase III: Continued renovation of Coffee Shop and development of restaurant, bar, and potential brewery (Approximately $200,000 to full-functioning restaurant, bar, brewery, and coffee shop; 3–5-year post business opening [2027-2028]) - Financing for phase III will reflect similarly to phase II but will be predominantly based on success during Phases I and II. Raeford Coffee Company, while a food service company, fosters community through a warm cup of coffee. In the downtown Raeford area, there are no sit-down coffee shops. Our goal is to some day be that gathering spot and through our brand establishment and community engagement, we can become that some day. We are a staple of downtown Raeford and aim to be one for many years to come.

  • Self Identified Competition

    Something’s Brewing Too (franchise of Coffee Shop focused on baked items, specifically cakes. 1192 Fayetteville Rd., Raeford, NC 28376 [1 mile away from Main Street, Raeford]): In strip mall on busy highway. No outdoor seating, no indoor seating, focused on bakery items, specifically custom cakes. Hours M-F 6:00 am – 5:00 pm, Sat 7:00 am – 3:00 pm. Home Food Grill (121 N. Main St., Raeford, NC 28376 [Main Street, Raeford]): Walk-up window with picnic table seating (limited). Serves breakfast sandwiches and coffee in Styrofoam cups transitioning to lunch items. Hours M-S 6:30 am - 2:00 pm, closed Sundays. Kayla Renee Cakes (107 N. Main St., Raeford, NC 28376 [Main Street, Raeford]): In downtown focus area. No outdoor or indoor seating. Serves cakes, cupcakes, bakery items, and some coffees. Reviews have been poor related to high prices and poor customer service. Hours T-F 8:00 am – 4:00 pm, Saturday 9:00 am – 2:00 pm. Our aim is for all of our customers and future employees to know that they are loved, connected to the community around them, and heard when they speak. We hope to be the place for people to gather in downtown Raeford yet for now, we cultivate through our inviting mobile coffee shop.

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