1 Slow Money Maine May 14, 2015
2
3 Forq provides: – Immediate market feedback and validation with a public tasting room on-site – Staff that trains members on equipment, regulatory compliance, and business plans – Equipment that is maintained and available to use immediately with no up- front investment – Member collaboration: Innovative products, sales leads, lower ingredient costs Value Proposition
4 Management Team Neil Spillane – Founder/CEO – CEO, Urban Farm Fermentory – MBA, Quinnipiac University – BS Business Finance, University of Maine Orono Eric Holstein – COO – BS Hospitality Finance, Colby College – Principal, Booth Consulting – Senior Consultant, LRA Worldwide
5 1. Food producers/processors Tiered monthly membership fee $400 / $700 2.Distribution Outlets Tasting Room Catering Wholesale Business Model
6 Competition exists from shared kitchens that charge an hourly fee and only allow one entity to use the kitchen at a time. No services are provided beyond the kitchen usage. – Public House, Monument Square – Woodford ’ s Club, Woodford ’ s Corner – Local Sprouts, Congress St. – Wayside Food Program, Outer Forest Ave. – Various restaurants that rent their kitchen out at night to trusted friends Competitive Analysis
Revenue Streams 7 Year 1Year 5
8 Location Lancaster St. 8
9 Fundraise Goal $450k total fundraise goal – $250,000 equity – $200,000 debt Uses of Funds – $250,000 build out (landlord financing $200k already) – $200,000 equipment 9
10 Timeline
Want more? Contact: Neil Spillane (founder + CEO) Winter St. Portland, ME (207)