Chocolaterian Café, a successful growing business with (now) two locations, is a third place between work and home that specializes in dessert and wine. Founder and owner Leanne Cordisco wanted to remove existing debt, buy out a business partner AND build a second location. Expense projections were reaching $800,000 and doubts were beginning to arise as Cordisco had yet to learn that growth isn’t two times the money and time, but rather three times or more. Cordisco estimated that FFI’s Tera Johnson saved her two months of work and $8,000 to $10,000 in fees through her advice, experience and expansive network of private investors, bankers, an attorney and a Wisconsin SBDC financial expert (Dan Lemmer).
Yumbutter’s Adrian Reif and Matt D’Amour wanted to change the business landscape but realized creating a movement of real change was an immense task. The Food Finance Institute helped D’Amour and Reif with navigating their business model path options in achieving the right growth and scale as well as securing financing. FFI’s Tera Johnson said, “I helped to clarify their business model path early on and aided them in understanding the process of becoming a national brand so they could sustainably achieve their commendable mission.” Yumbutter hopes to become a household name offering nutritious foods in a variety of categories while maintaining its vision of being the world’s most responsible food company.
Companies that best fit the services FFI provides have at least one the following characteristics:
Young and or small food businesses looking to grow. We typically work with companies that have anywhere from $50,000 to $5M in annual sales who are looking to raise up to $1M. These are companies that are too small for traditional investment banking but need that kind of financial technical assistance to raise equity and debt.
Local food and value-added farm businesses that need to expand to reach a critical mass of sales to be economically sustainable.
Local food businesses whose business model needs to evolve to become economically sustainable.
Local food businesses that want to become national brands.
Value-added farm enterprises that need to expand beyond farmers markets to make a positive contribution to the family enterprise.
Any food company that is looking to set up its own manufacturing facility.
Any food or value-added farm business that needs to raise equity.