Founders Matt and Garret worked in finance for several years. Being unfulfilled by their career paths at the time, they decided to combine their savings and move to the health-conscious, active city of Portland to start a juice bar. At the time, Portland had very limited options in this space, and the nationwide resurgence in juice bars and pressed juice retail was just beginning. Greenleaf chose Portland due to the favorable food cart laws. This low cost, low risk option allowed the founders to establish proof of concept before committing to a long lease. After experiencing success with the cart and first retail location, the founders took on a third partner to help grow the company to two additional locations in Portland. Since opening the original cart in July of 2011, Greenleaf has experienced steady growth in total revenue, same-store sales, and operating income. Greenleaf has strong brand recognition in and around Portland and plans to continue adding new locations and improving operational efficiency. Relative to other operators in the space, Greenleaf relies heavily on data and analytics to drive key decision making.

Greenleaf has been approached many times over the years by prospective franchisees in various markets across the U.S. As one of the founders and primary operators for several years, Garret is in a unique position to bring the concept into a new market. He plans to prove out the new market model himself before extending the same opportunity to others, and feels particularly capable of doing so in his hometown of Indianapolis.

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Garret Flynn, Owner

Financial Summary

Previous Fundraise Summary

Security Type Preferred equity
Minimum Investment $1,000
Investor Eligibility All Investors
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  • Valuation: Valuation represents the agreed upon price at which the business is being valued in the fundraise. There is not set method for determining what the valuation of a business is, especially for early stage companies. It is simply a number to be negotiated between the business and potential investors. Investors will want a lower valuation, so that they receive a greater percentage ownership in the business. Businesses will want a higher valuation, so that they give up less ownership. Typically with early stage businesses, you can expected to give up anywhere between 20% and 50% of your company in a preferred equity fundraise. Typical valuations for early stage businesses range from in the hundreds of thousands to $5 million.
  • Liquidation preference: A liquidation preference represents the order in which proceeds of the business are distributed in the event that the business is sold. Often, preferred equity will come with a 1x liquidation preference, meaning investors receive 1 times their investment back before any other funds are distributed to any other owners of the business (i.e. the common equity holders). In this scenario, investors would receive their money back, and then any additional proceeds would be distributed ratably (based on the percentage of the business each investor owns).

So if the company is sold for $10 million, and preferred equity investors previously invested $1 million, which represented 25% ownership of the company, preferred equity investors would receive the first $1 million + 25% of the remaining $9 million, or a total of $3.25 million in the sale. So while they owned just 25% of the company, they received a total of 32.5% of the proceeds from the sale of the company.

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Financials

This is an overview of the previous and planned financings of the business, including the capital needs the business is looking to cover in the current financing.

Funding Uses for Target Raise ($50 k)

Equipment Purchase
$28,748
Description Purchase of specific equipment for walk-up operations + production & packaging. The hydraulic press will be financed.
Timing A one-time payment when investments close.
Marketing/Sales
$15,000
Description For signage, marketing materials, and ramp up costs.
Timing A one-time payment when investments close.

Funding Uses for Max Raise ($75 k)

In addition to target raise

Build Inventory
$21,673
Description Make initial inventory purchases.
Timing A one-time payment when investments close.

Remaining funding uses include cash buffer and Localstake Marketplace fees. See offering materials for full details.

Provide information on your financial projections

The initial location in Indianapolis can be expected to ramp up from $400K to $900K in gross sales in approximately 3 to 5 years.

Q&A

What is your competitive advantage?

Greenleaf Juice offers premium, fast-casual health food options made to order with uncompromised principles of quality & nutrition. Greenleaf is committed to pressing and bottling an unpasteurized, raw juice product making it superior to similar options at the grocery store. All products are handcrafted in front of our guests in a public, transparent facility in order to showcase the quality of our ingredients and processes.

Greenleaf Indy has an advantage over its market peers by having access to 5 years of accumulated know-how, processes, and brand assets through its relationship with Greenleaf Juicing Company in Portland, OR. As a co-founder of the Portland entity, Garret Flynn is in a particularly favorable position of having helped to build the company's know-how to date.

Provide us with some background on your products and services.

Our menu offering can be broken down into two categories: walk-up and packaged/production. Our walk-up options include made to order: juice, smoothies, steamed soups, granola cups, acai bowls, craft shots, quinoa bowls, and oatmeal bowls. Packaged options include cold-pressed juice, handcrafted cashew milk, almond+juice, cashew cold brew, and craft shots: wheatgrass & ginger.

Team

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Garret Flynn

Co-Owner

Garret Flynn worked in finance for three years prior to moving to Portland, OR in 2011 to found Greenleaf Juicing Company with a former co-worker. Currently, the company is over $2M in sales for 2016.

Born and raised in Indianapolis, Garret believes that Greenleaf's ideal demographic has rapidly developed there. He is opening the location as a joint-venture with his partners in Portland in order to prove its viability in a new and different market. The relationship with Greenleaf corporate will provide a degree of support not typically available to food start-ups. including marketing, finance, accounting, and strategic collaboration.

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Joe Peoni

Co-Owner

Joe Peoni is a Senior Account Manager of Dedicated Accounts at Blue Ribbon Transport in Indianapolis, IN. He oversees outbound distribution of fresh produce and inbound distribution for a national grocery chain. He will be managing Greenleaf Indy's supply chain, input sourcing, and operations as well as investing his own capital in the joint-venture.

About Greenleaf Juice Indiana

Entity Greenleaf Juice Indiana LLC
Entity Type LLC
State Organized Indiana
Founded October 2016
Social Media
Website

Headquarters

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Risks & Disclosures

Describe your company's organizational structure

See attached corporate org chart for illustration on how the new entities will be organized to develop expansion market in Indiana.

An investment in the Company involves a high degree of risk, and should be regarded as speculative. Prospective investors should carefully consider these investment risks, among others, in addition to the other information presented in the Offering Materials, in evaluating the Company for investment. The risks listed herein are not a complete list of potential risks facing the Company and it may encounter unexpected risks in the future, which, may adversely affect its performance.

Business status: No current fundraise

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