Inspirational Grounds
Company Summary
Inspirational Grounds, Minneapolis’ South Central area, will offer great specialty beverages and easy access to exciting spiritual information. Inspirational Grounds sells quality products and provides excellent customer service for coffee lovers and persons looking to enhance their spiritual experience. We are looking to lease a retail store which we will use to market and merchandise our products. The company took its name in July 2002, and organized as an S Corporation in October, 2003.
Our book and music selection and helpful staff will appeal to the audience that is seeking to grow and learn spiritually in this age of uncertainty. This invigorating aspect will attract younger and elderly members alike who are gaining interest in their spiritual condition. The central location will provide easy access from most points of origin throughout the Twin City area for those who will recognize Inspirational Grounds as a destination point, as well as provide local community residents with convenient access to freshly roasted coffee.
2.1 Company Ownership
Inspirational Grounds is incorporated as an S corporation. This will shield the owner Regina Brown from issues of personal liability and double taxation. The Corporation was formed in October of 2003.
2.2 Company Locations and Facilities
The site, Midtown Commons (Also known as the Sears Project), is located in South Central Minneapolis. The initial space is approximately 2,000 square feet and has ample space for the first three years of growth. The complex has ample parking and significant foot traffic from Allina Healthcare Office Facility. This area was chosen for various reasons, including:
- Proximity to other areas within the Twin Cities; Central location easily accessed.
- Proximity to the Lyn/Lake and Uptown areas.
- High Visibility.
- Proximity to the many local churches in South Central Minneapolis.
- Diverse population within the community.
- Desire for South Central Businesses.
- Scarcity of other coffee houses in the area.
- Proximity to the light rail depot and 12th Precinct of the Minneapolis police.
All of these qualities are consistent with Inspirational Grounds’ goal of providing a community hub for socialization and entertainment.
2.3 Start-up Summary
Inspirational Grounds’ start-up costs will cover coffee, espresso, and specialty drink making equipment, micro-roasting equipment, training, site renovation and modification, capital for operating expenses in the first year, and the inventory necessary to provide customers with the information needed to grow.
A large portion of our start-up requirements will go towards the purchase of specialty drink equipment from Espresso Services, Inc. Our long-term assets will include:
- One espresso machine
- One micro-roasting system
- an Espresso grinder/doser
- water filtration system
Expensed equipment includes:
- A Bulk grinder for drip coffee
- Single airpot brewer
- Smoothie blender
- Minor additional equipment
Additionally, we need funding for initial inventory, both for the coffee shop side of things and the other specialty merchandise, books, and music. Music items will be purchased from Provident Music, Diamante Music Group, and New Day Christian Distributors among others. Books and other inspirational material will be purchased from Bridge-Logos Publishers, KCM, Bethany House Distributors, and others.
The site Inspirational Grounds chooses will require funds for renovation and modification. A single estimated figure will be allocated for this purpose. The renovation/modification cost estimate will include the costs associated with preparing the site for opening business.
Current Assets, in the table below, includes furniture and fixtures.
Long-term assets, in addition to our major brewing, grinding, and roasting equipment, includes a POS System.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,500 |
| Stationery etc. | $800 |
| Brochures/Mailings | $1,000 |
| Marketing Consultant | $1,000 |
| Insurance | $500 |
| Rent | $2,000 |
| Research and Development | $1,500 |
| Build Out Expenses | $8,000 |
| Initial Marketing | $2,000 |
| Training | $1,500 |
| Website development | $50 |
| Expensed Equipment | $4,950 |
| Other | $5,000 |
| Total Start-up Expenses | $29,800 |
| Start-up Assets | |
| Cash Required | $30,600 |
| Start-up Inventory | $6,600 |
| Other Current Assets | $12,000 |
| Long-term Assets | $16,000 |
| Total Assets | $65,200 |
| Total Requirements | $95,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $29,800 |
| Start-up Assets to Fund | $65,200 |
| Total Funding Required | $95,000 |
| Assets | |
| Non-cash Assets from Start-up | $34,600 |
| Cash Requirements from Start-up | $30,600 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $30,600 |
| Total Assets | $65,200 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $80,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $80,000 |
| Capital | |
| Planned Investment | |
| Owner Investment | $15,000 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $15,000 |
| Loss at Start-up (Start-up Expenses) | ($29,800) |
| Total Capital | ($14,800) |
| Total Capital and Liabilities | $65,200 |
| Total Funding | $95,000 |
2.3.1 Itemized Start-up
The following table represents an itemized list of the equipment, supplies, furniture and fixtures needed at start-up.
Equipment: Total $15,946.78
| Item | Description | Supplier | Number |
Per Item Cost |
Total Cost |
|
Espresso Machine |
La Cimabli MN29 Select | ESI | 1 |
$6,900.00 |
$5,643.50 |
| Grinder/Doser | Mazzer Super Jolly | ESI | 1 |
$770.00 |
$629.78 |
| Bulk Grinder | Mazzer Major | ESI | 1 |
$1,025.00 |
$838.35 |
| Brewer | Single Pot Brewer | ESI | 1 |
$865.00 |
$707.48 |
| Airpot | Service Idea 3 ltr | ESI | 4 |
$54.90 |
$179.61 |
| Water Filter Head | Everpure SO MC twin | ESI | 1 |
$175.71 |
$143.71 |
| Filter Cartridge | Everpure MC | ESI | 1 |
$69.07 |
$56.49 |
| Water softener | Everpure 7-SO Cartridge | ESI | 1 |
$94.92 |
$77.63 |
| Knockbox | Countertop | ESI | 1 |
$40.00 |
$32.72 |
| Creamer | Bell Creamer | ESI | 0 |
$40.00 |
|
| Thermometer | ESI | 0 |
$7.35 |
|
|
| Steam Pitcher | 1 liter | ESI | 0 |
$12.15 |
|
| Steam Pitcher | 1.5 liter | ESI | 0 |
$19.15 |
|
| Whipped Cream Maker | ISI 1 Pint | ESI | 0 |
$69.23 |
|
| Espresso Hand Tamper | ESI | 0 |
|
|
|
| Blender | Vita Mix 48 OZ – Bar Boss | Zesco | 1 |
$379.00 |
$379.00 |
| Coffee Roaster | Micro Roaster | ESI | 1 |
$3,500.00 |
$3,500.00 |
| Microwave Oven | Amana lgt duty 1000 wt | Zesco | 1 |
$200.00 |
$200.00 |
| Refrigerator | 27 1/2″ Undercounter | Zesco | 1 |
$837.00 |
$837.00 |
| Refrigerator | Upright beverage – True | Zesco | 1 |
$1,092.00 |
$1,092.00 |
| Freezer | Chest | Zesco | 1 |
$379.00 |
$379.00 |
| Ice Machine | Undercounter | Zesco | 1 |
$1,096.00 |
$1,096.00 |
| Dipperwell | w/faucet | Zesco | 1 |
$154.50 |
$154.50 |
Supplies: Total $2,667.94
| Item | Description | Supplier | Number |
Per Item Cost |
Total Cost |
| Detergent | Espresso cleaning | ESI | 1 |
$7.57 |
$7.57 |
| Barspoon | ESI | 1 |
$2.15 |
$2.15 |
|
| Nail Brush | Zesco | 1 |
$8.70 |
$8.70 |
|
| Cleaning Brush | Group head O-Ring | ESI | 1 |
$4.38 |
$4.38 |
| Cleaning Brush | Airpot | ESI | 1 |
$3.75 |
$3.75 |
| Cleaning brush | flat grounds | ESI | 1 |
$3.09 |
$3.09 |
| Cleaning blank | back flush | ESI | 1 |
$3.58 |
$3.58 |
| Foam Cups – hot | 8oz – 1000 count | ESI | 1 |
$39.33 |
$39.33 |
| Foam Cups – hot | 12 oz – 1000 count | ESI | 1 |
$55.92 |
$55.92 |
| Foam Cups – hot | 16 oz – 1000 count | ESI | 1 |
$63.92 |
$63.92 |
| Insulated Cups – hot | 20 oz – 500 | ESI | 1 |
$64.42 |
$64.42 |
| Plastic Cups – cold | 12 oz – 500 | ESI | 1 |
$36.83 |
$36.83 |
| Plastic Cups – cold | 12 oz – 500 | ESI | 1 |
$36.88 |
$36.88 |
| Plastic Cups – cold | 16 oz – 500 | ESI | 1 |
$51.72 |
$51.72 |
| Lid – Hot | 8 oz – 1000 count | ESI | 1 |
$28.36 |
$28.36 |
| Lid – Hot | 12/16 oz – 1000 count | ESI | 1 |
$36.58 |
$36.58 |
| Domed Lid | 12/16/20 oz 1000 | ESI | 2 |
$36.58 |
$73.16 |
| Lid – Cold | flat 12 oz 1000 count | ESI | 1 |
$36.51 |
$36.51 |
| Lid – Cold | flat 16/20 oz 1000 count | ESI | 1 |
$44.72 |
$44.72 |
| Lid – Cold | dome 12 oz – 1000 count | ESI | 1 |
$52.09 |
$52.09 |
| Lid – Cold | dome 16 oz – 1000 count | ESI | 1 |
$67.41 |
$67.41 |
| Bus Boxes | Zesco | 5 |
$4.70 |
$23.50 |
|
| Mugs | 3 oz Barista – 3 doz | Zesco | 1 |
$180.00 |
$180.00 |
| Mugs | 8 oz barista – 3 doz | Zesco | 1 |
$201.00 |
$201.00 |
| Mugs | 12 oz Barista – 2 doz | Zesco | 1 |
$152.00 |
$152.00 |
| Saucers | 5 1/4 ” Barista – 3 doz | Zesco | 1 |
$118.00 |
$118.00 |
| Saucers | 6 1/2″ Barista- 3 doz | Zesco | 2 |
$128.00 |
$128.00 |
| Demitasse Spoons | 1 doz | ESI | 2 |
$3.00 |
$6.00 |
| Plasticware | Spoons/Forks/Knives | Costco | 2 |
$6.00 |
$12.00 |
| Flatware | Spoons – 3 doz | Zesco | 2 |
$35.60 |
$71.20 |
| Flatware | Forks 3 doz | Zesco | 2 |
$49.70 |
$99.40 |
| Utility Cart | 300 lb capacity | Zesco | 2 |
$230.00 |
$460.00 |
| Stir Sticks | wooden 1000 count | ESI | 2 |
$1.57 |
$3.14 |
| Straws | Individually Wrap 500 cnt | ESI | 3 |
$2.72 |
$8.16 |
| Coffee Bags | 1 lb bags – 50 cnt | ESI | 3 |
$6.38 |
$19.14 |
| Coffee Bags | 1/2 lb bags – 50 cnt | ESI | 3 |
$5.45 |
$16.35 |
| Coffee Filters | 13×5 1000/case | ESI | 1 |
$12.02 |
$12.02 |
| Carrier | 4 cup carrier- 300 cnt | ESI | 1 |
$52.57 |
$52.57 |
| Java Jackets | 1500 cnt | ESI | 1 |
$87.21 |
$87.21 |
| Condiment Dispensers | Salt & Pepper shakers | Dollar Store | 6 |
$1.00 |
$6.00 |
Furniture & Fixtures: Total $10,570.50
| Item | Description | Supplier | Number |
Per Item Cost |
Total Cost |
| Menu Board | Laminated | Eckel Sign Co | 1 |
$150.00 |
$150.00 |
| Cash Register | Restaurant POS System | 1 |
|
|
|
| Hand Sink | w/ faucet | Zesco | 1 |
$73.10 |
$73.10 |
| 3 Compartment Sink | 94″ w/ 2 drainboards | Zesco | 1 |
$612.00 |
$612.00 |
| Faucet | 3 comp sink | Direct Buy | 1 |
$100.00 |
$100.00 |
| Prep Sink | TBD | Zesco | 1 |
$100.00 |
$100.00 |
| Mop Sink | Zesco | 1 |
$170.00 |
$170.00 |
|
| Trade Scale | 10 lb Avert Berkel Digital | Zesco | 1 |
$342.00 |
$342.00 |
| Chairs | Zesco | 90 |
$53.10 |
$4,779.00 |
|
| Stools | Zesco | 12 |
$88.60 |
$1,063.20 |
|
| Table Tops | 24×24 | Zesco | 30 |
$22.70 |
$681.00 |
| Table Tops | 24×42 | Zesco | 10 |
$35.40 |
$354.00 |
| Table Bases | 22×22 | Zesco | 30 |
$27.00 |
$810.00 |
| Table Bases | 33×33 | Zesco | 10 |
$34.00 |
$340.00 |
| Bakery Case | Zesco |
|
|
||
| Storage Shelving | Amco II | Zesco | 20 |
$38.60 |
$772.00 |
| Stackable high chairs | Zesco | 3 |
$63.90 |
$4,191.70 |
|
| Lighting | Direct Buy |
|
|
||
| Hand Towel Dispenser | Zesco | 1 |
$32.50 |
$32.50 |
Start-up Inventory: Total $1,812.96
| Item | Description | Supplier | Number |
Per Item Cost |
Total Cost |
| Espresso Beans | Lavazza 6/2.2 lb case | ESI | 2 |
$102.93 |
$205.86 |
| Decaf Espresso Beans | Lavazza 1.1 lb | ESI | 2 |
$9.70 |
$19.40 |
| Green Beans | Columbian Supremo | ESI | 2 |
$75.45 |
$150.90 |
| Green Beans | Costa Rican Tarrazu | ESI | 1 |
$89.48 |
$89.48 |
| Green Beans | Tanazanian Peaberry | ESI | 1 |
$66.35 |
$66.35 |
| Green Beans | Indian | ESI | 1 |
$64.08 |
$64.08 |
| Green Beans | Nicaraguan | ESI | 1 |
$74.32 |
$74.32 |
| Green Beans | Guatemala Antigua | ESI | 1 |
$79.25 |
$79.25 |
| Green Beans | Peru Organic | ESI | 1 |
$74.04 |
$74.04 |
| Green Beans | Columbian Decaf | ESI | 1 |
$72.50 |
$72.50 |
| Green Beans | Costa Rican Decaf | ESI | 1 |
$81.25 |
$81.25 |
| 1883 Flavored Syrup | 6 per case | ESI | 4 |
$37.38 |
$149.52 |
| 1883 Syrup Pumps | No Charge | ESI | 12 |
$0.00 |
$0.00 |
| 1883 Syrup Rack | No Charge | ESI | 1 |
$0.00 |
$0.00 |
| Sugar-Free Syrups | DaVinci | ESI | 4 |
$5.82 |
$23.28 |
| Chai Syrup | DaVinci 750 ml bottle | ESI | 2 |
$6.49 |
$12.98 |
| DaVinci Pumps | No charge | ESI | 8 |
$0.00 |
$0.00 |
| Chocolate Sauce | DaVinci 6/64 case | ESI | 1 |
$42.81 |
$42.81 |
| White Chocolate Sauce | DaVinci 6/64 case | ESI | 1 |
$42.81 |
$42.81 |
| Caramel Sauce | DaVinci 6/64 case | ESI | 1 |
$48.44 |
$48.44 |
| Sauce Pumps | DaVinci – No Charge | ESI | 3 |
$0.00 |
$0.00 |
| Fruit Smoothie Base | Case | ESI | 3 |
$54.42 |
$163.26 |
| Pwd Smoothie Base | Case | ESI | 2 |
$24.96 |
$49.92 |
| N20 Chargers | 24/case | ESI | 1 |
$13.85 |
$13.85 |
| Stash Tea Display | No charge | ESI | 1 |
$0.00 |
$0.00 |
| Stash Tea | Start-up case | ESI | 1 |
$24.57 |
$24.57 |
| Milk | 2% Gal 4/case | Clover Super Foods | 2 |
$2.38 |
$4.76 |
| Milk | Skim gal 4/case | Clover Super Foods | 1 |
$2.53 |
$2.53 |
| Milk | Soy 32 oz 12/case | Clover Super Foods | 1 |
$16.48 |
$16.48 |
| Milk | Half/Half | Clover Super Foods | 1 |
$8.27 |
$8.27 |
| Sugar | packets 2000 ct | Clover Super Foods | 1 |
$10.84 |
$10.84 |
| Equal | packets 2000 ct | Clover Super Foods | 1 |
$35.74 |
$35.74 |
| Bakery | Cheesecake – Amaretto | Clover Super Foods | 1 |
$14.39 |
$14.39 |
| Bakery | Choc Chip Cheesecake | Clover Super Foods | 1 |
$15.54 |
$15.54 |
| Bakery | Dipped Cheescake | Clover Super Foods | 1 |
$18.67 |
$18.67 |
| Bakery | Raspberry Cheescake | Clover Super Foods | 1 |
$16.43 |
$16.43 |
| Soft Drinks | Jones Soda 12 oz 24/cs | Clover Super Foods | 4 |
$15.95 |
$63.80 |
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