Why are we sharing a financial report when we haven't even started serving coffee yet? Because when we decided we wanted to document our journey, we felt full transparency was important. There are so many people on the internet making so many crazy income claims and selling their "programs" to want-repreneurs who desire to do the same. We've personally bought way too many of those programs :-/
We aren't selling anything, but... if there's anyone reading this who's inspired to start their own coffee business, we want to make sure we "keep it real" and don't embellish or leave anything out.
Even though we're still in the middle of COVID19 Shelter in Place, we've been really busy. Some of it has been a lot of fun. Refining coffee-making skills, developing recipes for syrups and our signature dairy AND non-dairy sweetener, ordering and playing with new equipment, and networking with every local coffee expert who will let us talk their ear off with a million questions.
Some has been not so fun. Things like adding a DBA to our LLC, researching permits we need, setting up a business bank account and starting our Food Manager certification. Stuff that's not glamorous but oh so necessary.
Now that most of our To-Do-List for this phase is nearly complete, we will start working on reaching out to our friends and family who would love to host a craft coffee party. Our plan is to use these events to build awareness and excitement about what we're doing, get referrals, refine our systems, and share our vision along with our GoFundMe link.
Now on to our financials. These numbers will actually include March and April (since we starting buying in March), and honestly, it's all expenses and zero income. We haven't started promoting our GoFundMe page yet and we've been buying a bunch of equipment like air pots, cold brew equipment, pour over sets, a grinder, scale, logo stamp and some corporation fees.
So, here you go!
March/April 2020 Financial Report
Equipment Purchases: $615.90
Crowdfunding Raised: $0.00
Number of Events: 0
Total Sales: $0.00
Charitable Donations: $0.00
Net Profit: N/A
Starting June 1, 2020 (Date subject to change based on government restrictions) we will be booking private events. Looking for something different and unique for your next Birthday Party, Block Party or Graduation Party?
Or how about a post-COVID19 Re-Grand Opening event for your local business?
Give your guests the Craft Coffee Experience with Aloha Spirit.
Starting at $150 for 2 hours. Minimum 10 guests.
If last year you would have told me we'd experience a global pandemic like those we read about in our history books, I would have said "Yeah right! With our technology today and our advancements in medicine and health care it would be impossible."
And yet here we are. The entire world brought to its knees. Not from a nuclear or terrorist attack. Not from a natural disaster. But from a global virus. It never crossed my mind that the single greatest threat to the world's population would be a virus.
None of us know how many lives this virus will take when it's all said and done. None of us know how quickly our economy will bounce back. How quickly our unemployed will find work or how many businesses and industries will suffer devastating losses.
With so many uncertainties, this has to be the worst possible time to start a new business, right?
If there's one thing I know, it's that there are great opportunities in the toughest of times. It's all a matter of perspective in my mind. It's true there are many industries struggling to stay alive right now. But, there are also many industries that are thriving. As scary as this time is, I choose to also see it as a blessing in disguise.
Let me explain.
We started planning our coffee shop at the end of 2019 (before the Coronavirus outbreak) in the traditional way of seeking loans and investors. Our plan was to take on debt like many startups. After all, it's the fastest way to get up and running.
Due to COVID19 we've decided to adjust our business plan.
We decided instead to self-fund and grow our business debt-free. That means starting small.
PHASE ONE will consist of hosting fundraising events and workshops to raise capital for a mobile coffee cart.
In PHASE TWO we will grow our coffee cart business by booking local events as well as utilizing crowdfunding until we have earned enough to open a brick-and-mortar coffee shop in the Prosper, McKinney, Frisco area.
We have also come up with several ideas for additional streams of income such as a monthly coffee subscription box. The last thing we want to do is be unprepared for an unforeseen event like COVID19. It would break our hearts if we had to lay off our team members at the worst possible time like what's happening now all over the country. We know we can't prepare for every possible situation, but we can be more intentional about our contingency planning.
We decided to document this journey so we could look back and see what we were able to start in such a crazy, uncertain. We also hope to inspire other people to follow their dreams and to not give up when the odds seem impossible. But instead to get creative, find grit and keep pushing forward.
Within this blog we will also share our monthly financials. We want to be fully transparent about this journey for anyone who may have a similar dream. The internet is full of coaches and consultants who claim to help make you rich if you just invest in their e-course or join their paid membership, but very few of them are transparent about their earnings or the success rate of their customers.
So here we are at the beginning. It's both exciting and scary. Especially since we are inviting you into this whole process. There is a possibility of failure. But the risk is worth the reward. If we don't try we will never know what could be.
We hope you enjoy this blog and we hope you'll join us on this exciting journey. Please don't be a fly on the wall. We would love for you to comment with an encouraging word or a piece of thoughtful advice.
Finally, if you are interested in how you can support us please visit our GoFundMe page. Or, if you are local and would like to host a fundraising party, click the button below.
Subscribe to our monthly newsletter so you don't miss an update!
"What about a coffee shop?" I randomly blurted out to Brittany, as I often do, one afternoon back in December 2019. If you know me, you know my brain never stops thinking up new ideas, coming up with solutions to problems and always focusing on the future.
Of course her reply was... "What are you talking about?"
We have been casually talking about creating a family business for years. One that our family can work together and eventually have one or both of our kids take over some day.
I've always been a "foodie". Even back in high school (before Food Network) I was concocting dishes and serving them to my family and friends. I also spent my teens and early twenties working in restaurants, so I knew for the quality of life I desire, opening a restaurant Is not an option. I didn't know what a weekend night or holiday was until I was 25.
But a coffee shop...
A coffee shop can allow for more freedom. I'm an early riser so waking early is no problem for me. And being able to coach my son's little league team in the evenings or watching my daughter play volleyball is certainly possible.
Why another coffee shop?
There are certainly many options to choose from in the Frisco, McKinney, Plano area. We have some excellent craft coffee shops here. But we actually view it a little differently. Our desire is to create a warm, inviting place within our community where people can take a break from the rat race, if just for a moment, and connect with the people who matter most. We'll just happen to serve incredible craft coffee.
Coffee is one of those magical things that can make us forget about our busy, stressful lives, if just for a short time, and simply enjoy a cup and a conversation.
What do I know about coffee?
I know enough to know coffee is both art and science. It requires both passion and patience. I don't claim to be an expert by any means. I'm just starting to explore this world and there is so much to learn. But that's kind of been a repeating pattern in my life.
In my early twenties I began questioning why I was drinking Bud Light. I apologize to Bud Light drinkers, but I wanted to find a beer that had more depth of flavor and complexity. Something I could pair with my meal that enhanced the experience, not detracted from it.
It wasn't long before I began exploring wine. In fact, Brittany and I actually joined a wine MLM soon after we moved to Dallas. Not for the business, but so we could connect and make friends with people who also enjoyed wine.
Fast forward several years and Bourbon/Whiskey caught my attention. Of course I couldn't settle for Jack Daniels and Jim Beam. I began tasting all sorts of well known and lesser known brands. In fact, one of my favorites is a small craft distiller in Texas hill country. From beer to wine to Bourbon, and now coffee. I guess I just like to pursue the best of the best. And like a top chef, always seeking perfection but never satisfied.
Coffee has always been a social thing for me. Now that I think about it, I guess it's always been that way for alcohol too. I probably have the least addictive personality of anyone I know. I have never drank coffee for the caffeine. I don't need it to wake up in the morning like many do. But it has become a big part of my morning routine.
It begins with waking up before anyone else and carefully crafting my pour over. I always take a deep breath in when opening the bag of beans and after I have ground them. I enjoy the slow swirling motion of my kettle and the sound when I pour the fresh brew into my cup. Finally one last deep breath with my nose over my hot mug before sitting in my comfy chair. That's when I reflect on everything I'm grateful for and begin to plan my day, while sipping on my black cup of deliciousness.
A desire for more.
Like many of my friends I have come to accept that commuting 60 miles a day to a job I'm not passionate about is normal. We tell ourselves we are doing it for our families. But it's usually our family-time that suffers first when something comes up at work. And something ALWAYS comes up at work.
I have grown tired of the ever increasing commute times, sacrificing my kids important events and milestones because of work, and simply not loving what I do. Life is too short for that. Before you know it, you've wasted all your good years and when you finally do retire, you don't have the energy or the body to do the things you wanted to do 30 years before. I don't want that to be my life. I want more.
Family and freedom are two of my core values. Owning a coffee shop may not retire me a multi-millionaire, but it sure does line up with my core values better than my current job does. Having the freedom to choose what I want to do and with who I want is so important to me. Growing a family business that can one day be passed down to my kids is important to me. Connecting with my tribe and connecting people in my community is important to me. Giving back by providing a service, providing jobs, and giving to organizations close to my heart is important to me.
And if I can do all that over a great cup of coffee... man, that would mean so much to me.
So follow our journey will ya'? God knows we need the support of our community to make this happen. You might as well take this wild ride with us!
Subscribe to our monthly newsletter so you don't miss an update!