With 9 days left in the campaign and 26% raised, I wanted to give a quick update on where the L&F campaign is going financially because we are actually much closer than it appears from the outside!
Since I chose to crowdfund the first coffee cart I want to be transparent about finances so here is a quick breakdown of what goes into the start-up costs, how those numbers were calculated, and what it will take to get operational.
When I was deciding on the type of espresso equipment I wanted to use I started off with my dream setup which came out to about $20k and spent the weeks following making cuts at every possible turn without sacrificing too much quality or style.
The final version I came up with is, in my opinion, the most cost-effective setup while still being able to produce high-quality espresso and milk-based espresso drinks quickly. By getting a wholesale account with a coffee gear supplier, I was able to get these costs down to $5,400 which will cover the espresso machine, coffee grinder, plumbing, electrical, and some other accessories.
The second major purchase is the cart itself. Since it will need to be customized for my machines, portability, and ease of use, it became apparent that the cart would need to be specially built. For this reason, I chose to hire a professional carpenter to bring the cart to life. For designs, material, and labor the cart will cost $2100.
Now that you've seen how I came to the $7500 goal for the campaign, let's take a look at the amount of cash that's come in so far:
Family/Friends Loan: $3000
Selling my motorcycle: $1800
Indiegogo (as of 5/2): $1930
Total raised: $6,730
$770 is the final push holding us back from being fully operational and ready to serve Indianapolis' events, weddings, and markets. We've already started to receive exclusive vendor list opportunities from venues and wedding planners and even have some tentative summer wedding catering plans in the works!
It's been so encouraging to receive positive feedback from venues and event planners that have been waiting for a service like this to exist in Indianapolis, and we are eager to hit the ground running!
Thank you again for your generosity towards our campaign! None of this would be possible without you! As we round out our final days of the campaign, would you consider sharing our story on your social platforms and with your friends, family, and colleagues?
Looking forward to serving you soon,