Financial Summary
Garden Party Botanical Hard Soda is not currently fundraising.
Previous Fundraise Summary
| Security Type | Convertible note | |
|---|---|---|
| Minimum Investment | $2,500 | |
| Investor Eligibility | All Investors |
Previous Fundraise Activity
$70,000 raised
Explain your historical financial performance to date.
The company has not launched. We have no tax returns or bank statements.
Describe the expectations for investor return on investment in your offering
Initial raise target of 3 yr convertible note at 8% accrued interest, 20% discount and $5m valuation cap on conversion at future equity round with special considerations for change of control. Our exit strategy involves being an attractive acquisition partner to a company looking to add a successful hard soda brand to its portfolio. We anticipate this will happen in 3-5 years.
Provide information on your financial projections
For our sales figures, we have researched performance of other brands in the category. We made the assumptions that our prior experience in the Bloody Mary mix non-alc category was that the category resulted in about $385 million in sales annually and that the "progressive adult beverage/malternative" category had sales of $3.2 billion. So, we estimated that the potential is for a smaller hard soda brand to have about 8x's the sales as a similar bloody mary brand. Our research included Nielsen reports, reports from the brewers association and various industry research firms.
Our operating expenses are estimates and once PSI and Somerset are retained in full, they will be able to provide more specific details on operating costs.
Convertible note investing explained
How it works: Investors loan funds to the business which convert to equity at a discount to the price of the next round of equity financing.
Use this calculator to get a better understanding of different potential outcomes when investing through a convertible note.
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How much equity will I potentially own when investing through a convertible note?
Convertible Note Basics
A convertible note is an investment structure that allows a company to take on funding in exchange for equity at a later date. At the time of the investment, the funds are considered debt, but at some date in the future, those funds (+ any accrued interest) convert to equity. A discount is typically included in a convertible note that provides investors equity at a cheaper price than what equity is being offered at, at the time of conversion. This discount compensates the investors for investing at an earlier date. If the notes have not been converted to equity by the maturity date (often 12 to 24 months), the debt plus interest is due and payable to investors.
A convertible note can be a good tool for a company to raise funds to help bridge to a larger equity offering to occur at a later date. For companies that are early with respect to customer and revenue traction it can be difficult to set the valuation of the business. A convertible note does not require a valuation to be set, offering a simpler transaction structure to close a smaller amount of funding. The company should then be able to more quickly close and deploy the capital to make progress with the business.
Learn about investing in convertible notes at our Help Desk or get in touch with us.
Business Plan
Hard Sodas are the hottest beverage trend in 2016, and its only getting started! Garden Party Botanical Hard Sodas incorporates a premium, craft element to the growing Hard Soda category that is expected to nearly double to $6.5 billion in sales by 2018. Garden Party will utilize key partnerships to create and produce the product without heavy capital investment, allowing the company to focus their resources on marketing and selling the brand.
What is your competitive advantage?
Garden Party Botanical Hard Sodas has several advantages over their competition:
- All-natural
- Low sugar
- Higher ABV (bang for the buck)
- Versitility (use alone or as a mixer)
- Erin Edds as a marketable face of the company for promotional and press appearances
Who are your competitors?
Major competitors:
- Not Your Father’s Root Beer –
- Originally manufactured by Small Town Brewery in Wauconda, IL
- Signed national distribution deal with Pabst in 2015
- Third-best selling craft beer brand in 2015
- $92 million in sales in 12 month period ending Nov 29, 2015
- 12 oz bottles (SRP $10.99/6-pack)
- 5.9% ABV
- Launching Not Your Father’s Ginger Ale in 2016
- Henry’s Hard Soda –
- Owned by MillerCoors and launched in January 2016.
- Launching aggressive ad campaign surrounding Super Bowl 50
- Attempting to reach out to millennials’ and craft drinkers.
- Hard Sodas will comprise around 1% of total sales for MillerCoors
- Two Flavors: Ginger and Orange Cream
- 4.2% ABV
- Comes in 12 oz bottles (SRP $8.99/6-pack) and 16 oz cans
- Best Damn Root Beer –
- Owned by Anhauser-Busch InBev and launched in November, 2015.
- Launched to take advantage of the Root Beer craze
- Both Bud and MillerCoors are using this to expand their portfolio
- 12 oz bottles (SRP $10.99/6-pack,) 16 oz cans and on draught
- 5.5% ABV
- Best Damn Apple Ale to launch later in 2016
- Coney Island Root Beer
- Launched in August, 2015 by Boston Beer
- 5.8% ABV
- 12 oz bottles, (SRP $8.99)
- Seagram’s Hard Soda
- Produced by North America Brewing
- Launched in March, 2016
- Cherry Cola, Grape, Lemon N Lime and Orange Cream flavors
- 5.9% ABV, available in 12oz bottles and 7oz cans (SRP bottles $9.99)
What market(s) are you in?
Product will launch through Monarch Beverage in 69 counties in Indiana through liquor stores, chain stores, bars, restaurants and other outlets approved to sell or serve alcoholic beverages. Through a strategic partnership with a major vodka brand (which will be announced soon,) we will be co-marketing our product in Indiana, Ohio, Michigan and Kentucky in 2016 and early 2017.
Customer Profile
- According to Gallup, the number of adults in the US who consume alcoholic beverages has remained consistent for the past 50 years at 64% (appx 150 million.)
- According a 2016 report from the food industry research firm Datassential, nearly 16% of adults drink beer on a daily basis, which is a higher consumption rate than non-alcoholic drinks such as specialty coffee and sports and energy drinks.
- A 2011 report by the Global Health Institute at Ball State, found that in 2011, 51.6% of adults in Indiana classified themselves as regular drinkers.
- According to a Nielsen report, 73% of women surveyed enjoy flavored alcohol beverages, with the number increasing to 92% for women between the ages of 21-34.
- According to Chris Fehrnstrom, chief marketing officer for Constellation Brands, there are 62 million Millennials of legal drinking age in the Unites States, and in two years another eight million will celebrate turning 21.
To make a comparison, according to analysts at Rabobank, the hard cider alcohol market has doubled over the past decade, with over half of those consumers being women.
The end user of the Garden Party Botanical Hard Sodas will be:
- 21-34 year-old Millennials (focused on, but not limited to, women);
- College educated/graduates;
- Higher income levels, either personally or via family;
- Lives in a metropolitan area/college town;
- Wine, craft beer and craft spirits drinkers.
4.6 Demographics for Indiana:
Key Demographics of the Garden Party launch market (based on 2010 census numbers):
- 4,578,226 - 21 and over
- 2,215,523 - 21 and over males
- 2,362,703 - 21 and over females
- 635,579 - 21-35 females
- Breakdown by race (all ages):
- White: 84%
- African-American: 9%
- Hispanic/Latino: 6%
Population breakdown for target market area for Garden Party launch:
- Indianapolis and surrounding counties
- 8 of the Top 10 counties by income (the other two are near Evansville, and are primarily agriculture/industrial areas)
- Counties containing Indiana University (44,000 students,) Purdue (40,000) IUPUI (28,000), Ball State (20,500) Butler (4,800) and Notre Dame (2,000.)
- By concentrating our initial efforts on 14 primary markets (out of the 96 counties,) this will allow for a more focused sales effort.
|
County |
Median Household Income |
18-24* |
24-44 |
Total |
Total potential audience ** |
|
Marion (Indianapolis) |
$43,541 |
91,366 |
273,704 |
365,070 |
233,645 |
|
Hamilton (Fishers, Noblesville) |
$81,947 |
21,601 |
84,457 |
106,058 |
67,877 |
|
Boone (Zionsville) |
$68,594 |
4,748 |
15,536 |
20,284 |
12,982 |
|
Hancock (Greenfield) |
$61,052 |
5,691 |
17,584 |
23,275 |
14,986 |
|
Hendricks (Avon) |
$67,180 |
12,258 |
42,779 |
55,037 |
35,224 |
|
Johnson (Greenwood) |
$61,629 |
12,779 |
39,013 |
51,792 |
33,147 |
|
Allen (Ft Wayne) |
$48,714 |
34,388 |
94,833 |
129,221 |
82,701 |
|
Delaware (Muncie) |
$51,394 |
23,491 |
25,136 |
48,627 |
31,121 |
|
Lake (NW Indiana) |
$48,723 |
44,709 |
121,749 |
166,458 |
106,533 |
|
Monroe (Bloomington/IU) |
$38,137 |
39,826 |
35,392 |
75,218 |
48,139 |
|
Porter (Valpo) |
$60,889 |
15,443 |
42,640 |
58,083 |
37,173 |
|
St Joseph (South Bend/ND) |
$44,644 |
29,572 |
66,627 |
96,199 |
61,567 |
|
Tippecanoe (Lafayette/Purdue) |
$42,632 |
44,021 |
45,506 |
89,527 |
57,297 |
|
Vanderburgh County (Evansville) |
$42,396 |
19,195 |
46,753 |
65,948 |
42,207 |
|
Indiana total |
$54,390 |
399,088 |
951,709 |
1,350,797 |
864,510 |
|
United States total |
$51,914 |
31,464,358 |
84,029,637 |
115,493,995 |
73,916,157 |
*This information includes ages 18-20, which is below legal drinking age, but the census breakdown was in that area.
**This is based on the Gallup poll that says 64% of Americans aged 21 and up consume alcoholic beverages.
- Current Employees
- 0
What is the composition of your current team?
Erin Edds and Stephen Edds fulfill all current roles within Garden Party. All other functions will be outsourced.
Provide detail on your hiring plans
The primary hiring will be for brand managers to cover key regions and areas of expansion. An event planner will be hired in early 2017 to coordinate and manage promotional events. In 2017, a VP of Sales will be hired with an "A-list" level of contacts in restaurant chains, distributors and retail chains. As the company grows, key functions such as accounting, HR, quality control, etc will be brought under the Garden Party umbrella.
Who are your target customers?
Customer Profile
- According to Gallup, the number of adults in the US who consume alcoholic beverages has remained consistent for the past 50 years at 64% (appx 150 million.)
- According a 2016 report from the food industry research firm Datassential, nearly 16% of adults drink beer on a daily basis, which is a higher consumption rate than non-alcoholic drinks such as specialty coffee and sports and energy drinks.
- A 2011 report by the Global Health Institute at Ball State, found that in 2011, 51.6% of adults in Indiana classified themselves as regular drinkers.
- According to a Nielsen report, 73% of women surveyed enjoy flavored alcohol beverages, with the number increasing to 92% for women between the ages of 21-34.
- According to Chris Fehrnstrom, chief marketing officer for Constellation Brands, there are 62 million Millennials of legal drinking age in the Unites States, and in two years another eight million will celebrate turning 21.
To make a comparison, according to analysts at Rabobank, the hard cider alcohol market has doubled over the past decade, with over half of those consumers being women.
The end user of the Garden Party Botanical Hard Sodas will be:
- 21-34 year-old Millennials (focused on, but not limited to, women);
- College educated/graduates;
- Higher income levels, either personally or via family;
- Lives in a metropolitan area/college town;
- Wine, craft beer and craft spirits drinkers.
4.6 Demographics for Indiana:
Key Demographics of the Garden Party launch market (based on 2010 census numbers):
- 4,578,226 - 21 and over
- 2,215,523 - 21 and over males
- 2,362,703 - 21 and over females
- 635,579 - 21-35 females
- Breakdown by race (all ages):
- White: 84%
- African-American: 9%
- Hispanic/Latino: 6%
Population breakdown for target market area for Garden Party launch:
- Indianapolis and surrounding counties
- 8 of the Top 10 counties by income (the other two are near Evansville, and are primarily agriculture/industrial areas)
- Counties containing Indiana University (44,000 students,) Purdue (40,000) IUPUI (28,000), Ball State (20,500) Butler (4,800) and Notre Dame (2,000.)
- By concentrating our initial efforts on 14 primary markets (out of the 96 counties,) this will allow for a more focused sales effort.
|
County |
Median Household Income |
18-24* |
24-44 |
Total |
Total potential audience ** |
|
Marion (Indianapolis) |
$43,541 |
91,366 |
273,704 |
365,070 |
233,645 |
|
Hamilton (Fishers, Noblesville) |
$81,947 |
21,601 |
84,457 |
106,058 |
67,877 |
|
Boone (Zionsville) |
$68,594 |
4,748 |
15,536 |
20,284 |
12,982 |
|
Hancock (Greenfield) |
$61,052 |
5,691 |
17,584 |
23,275 |
14,986 |
|
Hendricks (Avon) |
$67,180 |
12,258 |
42,779 |
55,037 |
35,224 |
|
Johnson (Greenwood) |
$61,629 |
12,779 |
39,013 |
51,792 |
33,147 |
|
Allen (Ft Wayne) |
$48,714 |
34,388 |
94,833 |
129,221 |
82,701 |
|
Delaware (Muncie) |
$51,394 |
23,491 |
25,136 |
48,627 |
31,121 |
|
Lake (NW Indiana) |
$48,723 |
44,709 |
121,749 |
166,458 |
106,533 |
|
Monroe (Bloomington/IU) |
$38,137 |
39,826 |
35,392 |
75,218 |
48,139 |
|
Porter (Valpo) |
$60,889 |
15,443 |
42,640 |
58,083 |
37,173 |
|
St Joseph (South Bend/ND) |
$44,644 |
29,572 |
66,627 |
96,199 |
61,567 |
|
Tippecanoe (Lafayette/Purdue) |
$42,632 |
44,021 |
45,506 |
89,527 |
57,297 |
|
Vanderburgh County (Evansville) |
$42,396 |
19,195 |
46,753 |
65,948 |
42,207 |
|
Indiana total |
$54,390 |
399,088 |
951,709 |
1,350,797 |
864,510 |
|
United States total |
$51,914 |
31,464,358 |
84,029,637 |
115,493,995 |
73,916,157 |
*This information includes ages 18-20, which is below legal drinking age, but the census breakdown was in that area.
**This is based on the Gallup poll that says 64% of Americans aged 21 and up consume alcoholic beverages.
Do you have current customers?
We have an agreement in place with Monarch Beverages to distribute our products in Indiana. We'll also be pursuing sales through retail channels and, ultimately, broader distribution.
What is your current customer pipeline?
Garden Party Botanical Hard Sodas will generate revenue through the following channels:
- Distributors (65% of sales) – Wholesale price to distributors: $5.80
- Chains (25% of sales) – Wholesale price to chains: $6.90
- Direct-to-retail (5% of sales) - Wholesale Price to retail: $7.68
- Direct-to-consumer (5% of sales) - Wholesale Price to consumers: $9.99
* *Cost to produce: $2.90 per 4 pack.
The distributors will seek placement with three major account-types:
On-premise: Restaurants, bars, country clubs, etc
Off-premise: Liquor stores, grocery stores, etc
Chains: Kroger, Meijer, etc.
Garden Party has a soft commitment from a major Indianapolis distributor who has working relationships with two other Indiana distributors. Once we are ready to move forward, we will secure this deal.
Provide us with some background on your products and services.
Below is a description of the products offered by Garden Party Botanical Hard Sodas:
Garden Party Botanical Hard Sodas are designed to bridge the gap between beer and wine, providing a refreshing, crisp, clean taste without the bitter beer flavor. It’s great for a day at the beach, park, racetrack or just to sit and share with friends.
Although we have four flavors developed, the most strategic path for a new brand is to launch with two initial flavors to ensure shelf placement. With that in mind, the flagship products of Garden Party Botanical Hard Sodas will be:
- Garden Party Ruby: Ginger Hard Soda with hints of Hibiscus and Pomegranate
- Garden Party Violet: Lemon Hard Soda with hints of Lavender and Blackberry
Packaging details:
- Carbonated Adult Beverage
- 51% malt, 49% neutral grain spirit3
- 8% ABV
- 12 oz “sleek” aluminum can
- 4-pack with cardboard outer packaging
- SRP - $9.99 per 4-pack
- Estimated production costs per 4-pack - $2.90
3 In 49 states (excl California), the alcohol mixture has to be only 51% malt, the other 49% can be neutral grain spirits (NGS.) Note: This is important because it reduces the “malt” taste in our product which will improve the taste/appeal.)
The Company plans on a line-extension featuring two additional flavors (Garden Party June and Garden Party Mojito) in 2017, with additional flavors and limited-run seasonal flavors in 2018.
Related Links
What is your production process?
Garden Party will be produced by City Brewing in Memphis, TN and orders will require a 3-4 week lead time. Production Services International in St Paul will oversee the production and quality control and Erin Edds will be the point person in working with both.
What is your product development timeline?
UPDATE (6/08/15) - The formulation of the two flavors are complete and we are in the regulatory approval process before heading to production at City Brewing.
The Company plans to have the product ready for distribution in the Indiana retail market in Fall of 2016. We want to “own Indiana” first, using the remainder of 2016 to engage our consumers and retailers, learn from what they are telling us and make any necessary pivots. We have a strategic partnership in place with a major vodka brand to do co-marketing and beverage programs in retail and restaurants in Indiana, Ohio, Michigan and Kentucky beginning in Fall, 2016. We will use that partnership to plan a methodical and aggressive expansion to higher profile and populous areas such as Chicagoland area in 2017, with the long-term goal to reach key US distribution points over the first three-to-five years of operation as the hard soda category continues to grow.
Garden Party Botanical Hard Sodas will work closely with our distributors and chain accounts to identify target areas and use fiscally sound methods to implement aggressive and strategic marketing and sales campaigns. This concentrated effort will effectively and efficiently increase pull-rates in retail locations and create loyalty among consumers, retailers and distributors.
How do you sell your product or service?
Garden Party Botanical Hard Sodas will generate revenue through the following channels:
- Distributors (65% of sales) – Wholesale price to distributors: $5.80
- Chains (25% of sales) – Wholesale price to chains: $6.90
- Direct-to-retail (5% of sales) - Wholesale Price to retail: $7.68
- Direct-to-consumer (5% of sales) - Wholesale Price to consumers: $9.99
* *Cost to produce: $2.90 per 4 pack.
How do you market your product or service?
Marketing Plan
Garden Party Botanical Hard Sodas, Inc. intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the Company.
Marketing Objectives
- Work with Vision Concepts to develop the branding for the Company and each individual product. Vision will also develop the website and assist with the marketing plan to target retailers and chain accounts.
- Utilize social media to identify and target potential customers.
- Utilize the press to gain media support and coverage.
- Develop ongoing relationships with beverage wholesalers and retailers throughout the United States.
Marketing Strategies
In the beverage world, the four stages of marketing (introduction, growth, maturity, and decline) should not be viewed strictly on a macro level, as these are not the only stages for a brand. Garden Party will focus its initial marketing on a micro level, which is the most important level for building a new brand. On this level, there are four important stages: building the distribution base, building investment in the brand, focusing on building consumer pull, and building consumer loyalty.
Spending $1 million on advertising when you are being sold in 100 points of distribution doesn’t make much sense. Therefore, the Garden Party marketing efforts must align with these micro-level stages to be effective.
Stage One: Building the base
In this stage, Garden Party will identify and develop a cooperative relationship with potential distributors, develop target account lists (the types of accounts where their brands sell the best), and negotiate and secure meaningful shelf presence, which is one of the shelves located between the eye level and the thigh level and that point-of-sale material is placed in multiple locations within the store.
We understand that distribution does not equal great distribution, and you need to fish where the fish are. It wouldn’t make sense to take a brand-new beverage that is selling well in Whole Foods Markets, for example, and try to immediately sell it to Circle K. Our initial goal is to build one channel at a time before moving to the next type of outlet. Success breeds more success.
Stage Two: Building investment in the brand
Building investment in the Garden Party brand needs to focus on building investment from the distributor and building investment from the public. Any beverage distributor will have large portfolio brands with millions of dollars designated for marketing. Point-of-sale (POS) pieces, while important, can too often be left in the distributor warehouse or in the back seat of the sales rep’s car. Our plan is to devote resources to sales rep incentive plans to reward placements and pulls from accounts, while developing specific and targeted POS pieces for our best accounts that will be tightly controlled by our staff and our distributor representatives. Garden Party will also conduct in store and event sampling and engage our audience via social media (Facebook, Twitter, Instagram, Snapchat, Pinterest and YouTube.) Target lists also are broadening in this stage.
Stage Three: Focusing on consumer pull
Stage three is the time to start local event sponsorships, guerilla marketing and sampling. Garden Party will identify local events (Symphony on the Prairie, Penrod Arts, Broad Ripple Arts Festival, etc.) which has a large segment of our target audience and use “in the mouth marketing” to influence the consumers who are either buying the product or are likely to buy the product. We will conduct mini “Garden Partys” where we introduce the brand to small groups with large online followings in order to create a buzz about the brand.
At this point, the target account list is expanded again and consumer public relations begin. Brands often try to obtain consumer press before the brand is ready. For example, in 2010, Erin and Stephen landed Hoosier Momma a front page article in the food section of the LA Times. While it was a tremendous accomplishment, our inability to ship the product to distributors in a cost-effective manner along with the cost of damaged goods from online sales diminished the impact of the article.
Stage Four: Building consumer loyalty
Once Garden Party is launched and on shelves and consumers are buying the brand, the focus will be on efforts to get the consumer to purchase the brand again, buy more of the brand and tell their friends about Garden Party. Everything is intensified in stage four. If the brand normally is sold on one shelf in a refrigerator, it is time to secure multiple shelves in the refrigerator and maybe an off-the-shelf display. Our team will actively engage our consumers and our retailers through surveys, face-to-face conversations and social media interactions to get feedback and use that data to acquire more consumers and grow the brand.
| Status | Still Looking |
|---|---|
| Location Type | Warehouse |
| Comments | Home office with a plan to rent warehouse space for surplus product down the road. |
| Entity | RumsTech Ventures Corp |
|---|---|
| Entity Type | C-Corp |
| State Organized | Indiana |
| Founded | October 2015 |
Stephen Edds
Stephen has 25 years’ experience in sales and marketing and left his job at a publisher to work for Erin and serve as the National Sales Manager for Hoosier Momma. During his 4 year tenure, he secured distribution deals with 14 separate distributors as well as chain placement in Kroger, Meijer, Walmart and Sam’s Club. That succes is due to his hands-on approach to relentlessly and passionately promote and sell the brand at every opportunity. Stephen is also the author of three books, including “The Losing Game: Why You Can’t Beat Wall Street,” which led to the creation of a publishing company to self-publish the book. Stephen appeared on more than 40 radio programs across the country during the promotion tour. Stephen has a BA in Political Science from Hanover (IN) College.
Erin Edds
- Named “One to Watch in Local Foods” by the Indianapolis Star in 2011;
- Nominated as “10 to Watch in Indianapolis” in 2012;
- Named a “Local Hero in Artisan Foods” by Edible Indy in 2015;
- Featured appearances on Inside Indiana Business, Indy Style, Fox 59, WISH-TV, and in the Indianapolis Star, Indianapolis Monthly and Ivy Tech Community College Magazine.
In May 2010, Erin co-founded Hoosier Momma, LLC. Starting as a farmers market product, Hoosier Momma Bloody Mary Maker grew rapidly to include distribution in 19 states with over $500k in sales and a Top 25 category performer nationally by 2014. The company was featured on the front page of the Food Section of the LA Times, and received additional praise from TIME, Chicago Tribune, Imbibe, Midwest Living, Tasting Panel and American Express OPEN Forum, just to name a few. Hoosier Momma Bloody Mary Maker was selected to be served at the Official NFL Tailgate at Super Bowl 46 in Indianapolis and Super Bowl 47 in New Orleans.
Edds is passionate about using her culinary and entrepreneurial experience to help students at Ivy Tech. She currently serves on the Alumni Board for the college, and the Hospitality School Advisory Council where she is working to help design the Hospitality Entrepreneurship Certificate Program. 205 will win in School 91
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Somerset CPAs and Advisors
Since our founding in 1960, when we were originally known as Whipple & Company, Somerset CPAs and Advisors has been dedicated to looking after our clients’ best interests. Decades of expanding our client base and services, along with continued growth and mergers, have made us what we are today—one of the most trusted and respected accounting firms in the region.
With our office centrally located in Indianapolis, we can easily serve our clients throughout the nation. And as a member of the BDO Alliance USA—a nationwide association of independently owned accounting and consulting firms—we have access to BDO International, which gives us the resources, services and technical knowledge to provide professional support and expert advice for our clients doing business internationally.
Updates
Last call...last call for alcohol!
September 2, 2016
We are extending the Garden Party round through the holiday weekend until Tuesday, Sept 6. In addition, there will be an additional piece of information related to the launch occurring this weekend which we will be announcing.
But NOW is the time to move forward with the investment to get the paperwork in place by the 6th. What info are you needing to make this happen? Let us know at stephen@drinkgp.com or erin@drinkgp.com.
Garden Party in Sept Issue of Indianapolis Monthly
August 26, 2016
If you check out page 50 of the September issue of Indianapolis Monthly, you'll see yet another story about Garden Party Botanical Hard Soda building the momentum of the brand in the final two months before launch. In addition, Garden Party's Erin Edds will be also have an article in the Visit Indy Visitor's Guide given out in hotels and businesses across Indianapolis. Erin is one of only six people featured to list their favorite Indianapolis destinations.
As we close out our Localstake raise in the next couple of weeks, now is the time to make that step from the interest phase to the commitment phase and RSVP for the Garden Party! If you have any questions before making your investment, contact Erin Edds at erin@drinkgp.com or Stephen Edds at stephen@drinkgp.com.
New 4-pack packaging and campaign update
August 20, 2016
The next phase our our development is complete with the 4-packs cardboard wraps which highlights the theme of a "party in a box." Take a look at the photos.
Also, as Erin stated in the IBJ article, we have reached a point in our fundraising where we have the minimum capital necessary to launch the brand in October. With that in mind, we are going to close this round of funding through Localstake on Aug 31st. However, the more funds we can close before Sept 1, the more we can devote to the launch. If you are listed as an interested investor and would like to complete the process, please move your status to commitment so we can begin getting the Indiana VC Tax Credit paperwork submitted and the investment completed.
Thank you for your interest in Garden Party and I hope we can count you as an investor when we close out this round.
Garden Party to set up shop at Speakeasy Downtown
July 29, 2016
We are happy to announce that as of September 1, Garden Party will have an office at the new Speakeasy Downtown at the Morrison Opera House building at 47 South Meridian in Indianapolis. The advantage of having a spot at the Speak Easy Downtown is it allows startups like ours an opportunity to purchase only the space we need on a month-to-month basis without having to sign a long-term lease and have the flexibility to scale that space up when needed.
It also gives us a visible space, as the window of our office will face the main area, which will be used for events and for members to hang out and work. This gives us another way to advertise the brand and continue networking with entrepreneurs and business leaders.
According to the Indianapolis Business Journal, the Opera Place building, which was built around 1870, has rich historical character, both on its interior and exterior. It was added to the National Register of Historic Places in 1979.
Located two blocks south of Monument Circle in the heart of downtown Indianapolis, the four-story building boasts arched windows on its upper floors and an Italianate-style cornice at the roof. Its interior is marked by a brick facade; exposed wood beams and trusses; cast iron columns and more. According its National Register application, the Italianate design that the building's exterior typifies "was popular for commercial buildings in this area of Indianapolis from the period just before the Civil War to about 1880."
This fulfills another step in our development process as we work towards our Fall launch.
Initial commitment target reached!!
July 21, 2016
Thank you!
We have reached our initial commitment target and are finalizing the process to close 82% of those commitments by early next week. But our work has just begun. We know investors sometimes like to wait until the "first check is written" before moving forward with a commitment, so as other Localstake investors lead the way, hopefully this will encourage you to get involved.
We also have an updated video for you to watch. Jim Cota and his team at Rare Bird did a tremendous job in just a few days to have this ready for Innovation Showcase. They are a first-class organization, one of the many we are working with to bring this product to market this fall. Log in to our Localstake page to watch the video and complete your review.
Please take that next step and join those investors who believe that Garden Party will revolutionize the hard soda market.
Business status: No current fundraise
You can express interest to notify the business of your interest in a future fundraise.
