Fresh Start Market

Fresh Start Market

Grocery Store

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Security Type
Revenue Sharing
Categories
Other
Min Investment
$100
Location
Franklin, MA
Offering Date
November 20, 2020
Expected Close Date
February 03, 2021
Target Raise
$50.00K-$150.00K
Deal Notes

If you invest $100, the business agrees to share a portion of their revenue until you have been repaid$160. They will owe you this amount by 10/1/2028, regardless of revenue.

Company Description

Fresh Start Market is a new concept to the local healthy food market. We specialize in food products that are all 100% locally grown, raised, or produced throughout all of New England and using all natural ingredients.

The shift towards locally produced healthy foods has increased dramatically in the last 10 years and many New England towns host weekly farmers’ markets to meet this demand. The town of Franklin joins other country-wide marketplaces that offer consumers a limited outdoor, seasonal shopping experience to purchase locally raised, grown, and produced healthy foods. Fresh Start Market as a grocery store, brings the farmer’s market indoors and makes farm fresh foods available year round.

The Franklin location is ideal for Fresh Start as it is in a highly visible, high traffic plaza right on Route 140, a state road that runs through several New England towns throughout Massachusetts. We are deemed an "Essential" business during these "uncertain times".

Fresh Start Market offers a wide variety of products, including fresh, locally raised meats including beef, poultry, pork and seafood, locally grown produce, farm-raised dairy, fresh baked breads, and refreshing beverages. Value added products from each of the New England states include seasonings and sauces, jams and jellies, baking mixes, bakery items, beverages, snacks, cheese and other healthy small-batch artisan produced foods. It is important for us to know the person behind the food not just the product. Our customers are individuals and families who either maintain a clean living lifestyle or are looking to add more healthy local foods into their diet.

Fresh Start Market was a concept-in-the-works grocery store that I designed back in 2014 ideally for the Franklin location. I had previously looked at the location at that time, however, the cost per square footage was more than twice what I am presently leasing at and the space lacked air conditioning, refrigeration, and a kitchen. I decided it was going to cost more to build out and outfit the space than I was comfortable with. Shortly after, a new market leased the space and I took a position with a local food distributor as an Operations Manager.

In March of 2020, the newly discovered Corona virus changed the way we shop and buy food. In my 35 years of food service and distribution, it became clear that we are facing a national food shortage. Food production in many markets ceased for weeks and we are expected to see a return of lack of fresh foods in the coming months as seasons change. Manufacturing also shut down leaving many production facilities unable to fulfill the food industry demand. Major food corporations had failed to implement and follow safe operating practices which directly impacted their employees ability to work. Every local grocery store was feeling the loss as well. Stores went months not receiving products especially fresh meats. Customers found themselves being limited to 2 packages of meat during each shopping trip.

It’s clear that Big Box Chains are not in a position to purchase local products. Big Box Chains will tell its customers how they source (a few) products locally. This proved to be only partially true. These stores work with a few very select local farms, and only if they’re able to meet demand. Most local family-owned farms are unable to compete with locally owned factory farms. Big Box Chains months later are still unable to replenish inventory levels and are losing customers quickly to local farm stands. Customers are buying more local healthy products and they struggled to meet expectations. When Covid hit, they were unprepared and could only offer empty shelves to customers. As the Pandemic began to shutter families into Quarantine, customers initially panic purchased and cleared shelves. No longer were people waiting in deli lines, self-serving at the bakery, or purchasing fresh meat. Customer interactions became non-existent as union workers panicked and took extended time off from their jobs. Customers’ purchasing quickly changed. Big Box Chains’ purchases went to contactless interaction as packaged retail became the purchase of choice. Many consumers switched to home delivery and curbside pickup. Meanwhile, in Big Box Chains, fresh food and imported products became non-existent.

Small local farm stands, however, experienced just the opposite. Farm stands are sustainable and offer home delivery to its customers. When Big Box Chains failed to maintain inventory, farm stands were fully stocked with their own grown and raised items. Never did they experience a food shortage. Food distributors quickly switched to ensuring that its local Mom and Pop independent stores had the products they needed to get products out to customers. Most food distributors intentionally cut off food supplies to Big Box Chains and took great care of their local farm stands, small delis and butcher shops, and local corner grocery stores. Many saw sales increase a thousand fold! Big Box Chains suffered greatly and continue to do so.

Big Box Chains do not have the personal relationships with the small local farmer. To my advantage, I do. I’ve spent the last 6 years getting to know many of our local farmers and artisans personally, meeting and speaking with them at local farmers markets, food shows, and community events. When I started reaching out to them and letting them know Fresh Start Market has a home after all these years, the response was overwhelming. Every farmer and artisan was excited and willing to help get Fresh Start whatever it needs to make the market happen. Fresh Start Market is able to work directly with small family farms and artisan producers who typically only sell at local farmers markets. I am able to through Fresh Start Market to provide our community with fresh meats and produce year round.

We were fortunate to come into the location with most of the equipment necessary with the exception of a couple of refrigerated deli cases. We were gifted 5 sets of refrigerated and frozen retail coolers, a walk-in refrigerator, a nearly complete kitchen (we are purchasing additional necessary equipment in addition to equipment we presently own), and we are upcycling as much as we can. We have also been fortunate to have the community help when we are needing specific items. We currently have over $150,000 in purchased equipment that is note free. We are expected to have working capital within the next 6 months from a settlement.

The capital I raise will allow me to complete the build out for the store and allow me to purchase the remaining necessary equipment, obtain our licensing, insurance and fees, utilities, inventory and payroll.

When we are close to opening, we will be giving interviews with local newspapers and radio to help promote the store.

Use of Proceeds

  • Space Buildout: $31,000
  • Equipment: $30,000
  • Operating Capital: $80,000
  • Mainvest Compensation: $9,000

Management Team / Advisory Board Bios

Bonnie Corso
Founder/Owner
Bonnie has a vision. In her 35 years of working in and owning restaurants, supply chain management, warehousing and distribution, retail and marketing, and most recently operations, one finds that she is very versed and well-rounded key player in the food industry. As a highly motivated hands on entrepreneur, she has started and owned both her own restaurant and distribution company. She has spent the last 6 years building towards opening Fresh Start Market and bringing her dream to life. While working as a operations manager for a food distributor, she used her experience from owning her own distribution company, Corso Distributors, to provided her the skills and knowledge to succeed in her industry. As the founder of Corso Distributors, along with her husband, Mark, she met many food producers throughout New England and was able to get many of their products out from behind the farmer's market stall and into retail grocery stores. She has built personal relationships with the producers and is passionate about using their products for herself and her family. It has been her mission to bring all of these great New England products under one roof and opening a grocery store has been her target. As a former restaurant owner, she is able to create healthy nourishing foods from scratch and is able to cater to many food lifestyles such as vegetarian and keto to accommodate her customer's needs. Bonnie is a highly organized individual with a strong focus on the finance side of her business. She prides herself on her ability to make and maintain strong relationships. 

Mark Corso
Managing Partner
Mark shares in the vision that is Fresh Start Market. Mark has over 35 years experience in food service distribution and retail sales. Mark spent over 30 years working in sales for a well-known provisions distributor often wearing many hats which allowed him to have hands on experience not only in sales, but warehousing and distribution. Mark, along with his wife Bonnie, owned and operated the restaurant in which they met, as well as being a partner in their distribution company Corso Distributors which allowed Mark to use his knowledge and skills to grow the company and acquire many grocery chain accounts. Mark is most recently a manager in a grocery store overseeing the deli, meat, and seafood departments as well as managing employees and daily routine activities. Mark has a strong background in retail sales, cooking, customer service, product acquisition, managing, and business ownership. As a grocery store manager, Mark was able to increase company percentages in his departments over 85% in expected sales. Mark has a great rapport with customers and vendors and is a valuable asset to the Fresh Start Market team.

Deal Notes

If you invest $100, the business agrees to share a portion of their revenue until you have been repaid$160. They will owe you this amount by 10/1/2028, regardless of revenue.

Amount Raised : $0
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Security Description

Revenue Sharing is a form of lending that involves sharing revenue from the business with investors as return on their investment. It is often a fixed percentage of revenue and you are paid until you earn a total return on your investment.

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