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Fri, Jul 05

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Virtual Event

Grow Your Dough with Maine Micro Artisans

So you wish your bank offered you 10% returns, of course you do! How about 15%? It's unheard of and not at all impossible. Read on...

Grow Your Dough with Maine Micro Artisans
Grow Your Dough with Maine Micro Artisans

Time & Location

Jul 05, 2024, 9:00 AM – Jul 31, 2024, 11:50 PM

Virtual Event

About the event

We have been lucky to have so many amazing people supporting us over these last two years. There have been mountains to climb that I could never have imagined. We’ve been able to tackle some really big obstacles and we have a good trajectory and great momentum.

Because we are outside-of-the-box builders, we don’t qualify for traditional funding for many things. We have scaled our growth using out-of-the-box solutions like PayPal’s Working Capital Program and a Kiva loan. One of the safety nets we implemented for MMA was the monthly fee.

I have teetered back and forth on this fee for the entirety of the time we’ve been open. As a small business without large working capital, not having the predictable revenue of a recurring membership fee means taking on even more risk. However, assessing that fee also puts up a barrier for some people. Yes, we have provided a way to volunteer, but what if you’re a caregiver? Work two jobs? Live an hour or more away?  

I know we won’t be a perfect fit for everyone. I know that we can’t build a perfect system, but I do want to build the most equitable one that I can. As I look back at this fee and how it’s been assessed over the last six months, what I see is MMA rising on the backs of those who see the least returns. We are not about that. 

Now we find ourselves in a situation where we need to eliminate the fee, but have created the revenue stream with this as a regular contributing factor. We are moving to a commission rate of 33% and no monthly fee. However, to make this move, we need to be able to interrupt that stream we’ve created without risking a downward spiral.

We don’t need a handout; the business is doing well and we can support paying back a loan. The problem is that major banks don’t see us that way. Even though we have excellent payment histories, years long leases (Bangor is 10 years!) and can show steady growth, we can’t show the big personal returns that banks want to finance us.

We are through our growth period. With the Bangor expansion and The Maine Mall store’s opening we have all we can handle and all we need to be successful in some really big ways. Now we shift from nurturing growth to creating stability. We get open, we stay open and we continually focus on driving customers into our locations through our statewide events and a larger scale media campaign. We will commence production of our first TV commercial in partnership with WABI this month!

So how do we interrupt that stream to create a more equitable experience while at the same time fostering stability? We need investors. Most of you who have supported us have already seen returns in the way of sales on your work. Now we can offer returns in a new capacity and we can offer a bigger return than any bank ever will! I am so excited to be able to give back to all of you with this opportunity. This creates a better, more equitable system and grows our core supporters' funds and gives them back while creating a more stable MMA. It's a win-win and win. 

Your timeline depends on your investment level. This ranges from 6 months to just under one year. Here’s what this will look like:

$100 - $500 Investment

Repayment begins 45 days from the date of investment. Repayments will be issued at 25% of the initial investment plus 10%. So if you invested $100 today, July 5th, your repayment would be scheduled as four payments of $27.50, occurring on or around the 17th of each month.

$501-$1,000 Investment

Repayment begins 45 days from the date of investment. Repayments will be issued at 10% of the initial investment plus 15%. So if you invested $1000 today, July 5th, your repayment would be scheduled as 10 payments of $115, occurring on or around the 17th of each month.

To be clear - Maine Micro Artisans isn’t in danger, we don’t have to have these investments to continue, but it will be a more difficult road toward a more equitable experience. I also want to be clear that if you are a client, there is no pressure and your client relationship is not affected by this whatsoever.

This agreement is separate and outside the scope of any other MMA agreement. If you’d like to invest in MMA we have created an easy way for you to do that. This is an investing 'event' that features a 'pay what you can' ticket. This allows you to set your level of investment and allows us one easy place to manage this! Easy- peasy.

Once you invest you will promptly receive a signed & scanned document stating the debt that is owed, the gains and the repayment schedule.

Tickets

  • Grow Your Dough

    Please be sure you understand the terms and conditions of this investment. If you have questions you can reach Mary and/or Mike at admin@mainemicroartisans.com

    $

Total

$0.00

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