The Magnolia Coffee Co. | Application Preview
The Magnolia Coffee Co. is applying for government grants to address its current financial obligations and to expand its business into nearby small towns. The funding will primarily be used to pay off a remaining debt of about $16,000 from its initial opening costs. Additionally, the company aims to invest in new locations in towns with populations under 10,000, focusing on a few specific areas identified over the past year.
The business has a clear plan for growth, aiming to establish three new shops in smaller communities within the next five years. This expansion would not only create jobs but also provide valuable training opportunities, including a barista training program for local students and adults, which could potentially lead to franchising options later on. The owner is passionate about positively impacting these communities and fostering local talent.
The owner, originally from Mississippi, returned after several years away with the determination to open a coffee shop. Since its opening nine months ago in a town of 3,000 people, the shop has achieved over $100,000 in sales. The owner emphasizes community involvement, partnering with local organizations, and supporting schools and non-profits, demonstrating a commitment to enriching the local area.
Currently, there are no other dedicated coffee shops in town, with the nearest competitors located miles away. This unique positioning, combined with strong community relationships and a distinct coffee experience, serves as the company's competitive edge. The Magnolia Coffee Co. prides itself on being an integral part of its community and strives to enhance the lives of its customers through personal connections and quality service. The goal is to secure funding to fulfill these aspirations and sustain the growth of both the business and the community.
-
General Information
Business Registration Number: 88-3727858
Location: Water Valley, MS, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: Less than $100k
Open to Loans: NO
-
Funding Usage
We plan to use the funding to pay off any debt accrued (about $16,000 remaining ) when opening the first business as well as to invest in new shops in neighboring towns with populations of less than 10,000. We have been visiting other cities over the last year to see where we would like our second location to be and have narrowed it down to a few cities within 40 minutes of our original location. We would also like to invest in new equipment for our coffee trailer so that the experience and quality of product is the same that you would receive in our brick and mortar location. We would also use the funding to send our staff to professional trainings to further their own careers in the industry beyond what we can currently offer them.
-
Business Plan
We would love to open more locations in other small-medium sized communities in Mississippi. Ideally over the next 5 years we would love to be in at least 3 other towns that are less than 10,000 in population and offer jobs, training, and opportunities to those communities that don't currently exist. We would love to start a training program for students and adults alike to learn the art of being a barista - a job they can take with them anywhere - and eventually offer franchising opportunities to those that train with us. We want to stick to smaller communities where we can make significant impacts on the lives of those around us, so that we can see our hard work paying off. I am originally from Mississippi and moved away to attend art school. I lived in Washington State for 11 years before finding my way back home. I have the "how hard can it be" mentality and decided to open a coffeeshop - something I had never done before - while on a visit home in March of 2022. By July of 2022 we had sold our home and moved across the country. We signed our lease in September and immediately got to work on renovations in the historic downtown building our business resides in. We have been open for 9 months in our town of 3,000 and have already done over 100,000 in sales. We are fully invested in the enrichment and betterment of our community and lend our hands and support wherever possible. We are closed partnered with our Chamber of Commerce, Main Street Association, PTO, Junior Auxiliary, and two non-profits in our town. We bring our coffee trailer to local community events, we donate back to the schools and art galleries in our town, and we show up - in person - to help out. The "how hard can it be" mentality has served me well as I have been able to push aside any hesitations of opening something many consider a luxury - and not just surviving but thriving in a what many would consider a poor rural town. I have big dreams to invest in the future of the students and adults in our city - and would love the backing to see them to fruition.
-
Self Identified Competition
In our town there are no other dedicated coffee shops. The closest coffee shop is Lost Dog coffee which is 13 miles away, and High Point Coffee which is 19 miles away. The closest chain coffee shop is 24 miles from us, and it's a Starbucks. We are currently the only dedicated coffee shop in our town. We are able to provide a touch point for so many in our community and serve it in so many ways. Other than our style and taste of coffee being much different than all three of our next closest competitors - we are engrained in the lives of those in our shop each day. I could tell you stories about the lives of almost every single patron of our shop and how we are able to effect their day to day. Whether it's the teacher that comes in each morning before work, or the nurse that works over an hour away and gets a hot chocolate when she gets off her shift to help her sleep, or the man that walks his dogs each day and stops to get them a grilled cheese to share - we know and love our community fiercely and I think that more than anything makes us different.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
