This is a business owner who has reached out to Slow Money NC.
Business Owner: Geniece Bey
Business Name: Gege The Neighbor Cupcakery
Location: 291 E Front Street, Burlington, NC
How did you hear about Slow Money NC?: Lashauna Austria recommended you guys!
Tell us your story. What is your business idea? Tell us your plan. I’m GeGe, owner of GeGe the Neighbor. I am a graduate of Durham School of the Arts and relocated to Mebane 2 years ago. I opened GeGe’s about a year ago in downtown Burlington. We offer homemade specialty crafted baked goods including cupcakes, cakes, cookies etc. I would like to expand our retail storefront into a full size bakery.
Currently I bake in a certified kitchen and I deliver to the retail storefront daily. Our certification limits our production because it’s not a commercial kitchen.
Please briefly describe your commitment to sustainable food systems in North Carolina.: I believe that food is the medicine of the soul. I’m committed to using high quality ingredients like real butter and pure vanilla. I also source all of our fruits, and often eggs (when at all possible) from local farmers.
What will your sales be? What do you anticipate your profits/your margins will look like? How will you make the money to pay this loan back?: Last year we opened May 11th and made almost $25,000 in sales. With this loan we anticipate an increase of 50%. With a full service bakery I will be able to incorporate things like milkshakes, breads, and donuts all having higher profit margins.
Have you borrowed money before? How much did you borrow? From where? How long was the term? Is there a balance still due on that loan?: I had a square capital loan that is completely paid off.
Do you have people who would vouch for your credit worthiness? Who are they?: Yes. My current landlord (Randy Hunley) would be glad to vouch for my business.
Tell us about your business background. Have you been in business before?:
GeGe The Neighbor started in May 2018. Originally using a mobile food trailer. May 2019 I opened the retail storefront.
How much money do you need to borrow to make your project work? How long do you think you would need to pay that back?: To retrofit a new bakery I need additional commercial equipment and supplies. [Please contact Gege or Carol directly about this.]
Are there other lenders involved in your project or business?: No
What is your timeline for this project? Would you like it to start in a month? 6 months? A year?: Our current lease is up in May. We are now paying month to month. We have identified a new location and would like to move in there ASAP.
Is there anything else we forgot to ask you?: I would love for GeGe’s to be a staple in Alamance County for years to come.