The Freaky Bean Coffee Company

Posted August 23rd, 2007 by freakybean

Background

Business description:

The Freaky Bean Coffee Company (the Company) is an independent, Maine-based specialty coffee house and roaster, with retail locations, a roasting division, and numerous wholesale accounts.

The Company’s unique market position is to create a high-quality coffee experience and culture by focusing on roasting and selling USDA Organic and Fair Trade Certified coffees to sophisticated, demanding coffee-drinkers. Currently, 97% of its coffees are organic and/or fair trade, which sets it apart from other coffee houses in the region.

The Company’s friendly, inviting, community-oriented coffee-house environment is its trademark. In these retail locations, the Company connects customers with each other and also with local vendors by serving locally baked goods, exhibiting local artworks, and hosting local musical performances.

The Company’s growth objective is to become the most recognized and sought-out coffee company in New England, while giving back to each of the local communities it serves and enriching the lives of coffee growers around the world.

Business History:

• In October 2005, the Company was founded as a privately-owned sub-chapter S corporation. Owners Jonathan Stratton and Andrew Kessler have over ten years of coffee industry experience, and, along with their Board of Directors members, have extensive business experience ranging from executive-level management to small business ownership.

• In February 2006, the Company completed the purchase of a small Seattle-based coffee roaster, bringing its established high-end products and business model to Southern Maine. This move helped the Company increase its market share in the wholesale market throughout the United States and Canada. Currently, you can find Freaky Bean coffee in restaurants, coffee houses, natural food stores, and most recently, Hannaford stores throughout Maine.

• In June, 2006, the Company opened its first retail location in the new Willowdale Place business complex on Route 1 in Scarborough, Maine. This location has grown steadily, affording the owners the opportunity to quickly seek out other locations for expansion.

• In December, 2006, the Company launched its Web site: www.freakybean.com, establishing an e-commerce venue for coffee selection and purchases. This site will be used to grow a virtual Freaky Bean community and increase sales.

• In December, 2006, the Company also launched the Freaky Bean Card for customers to use in setting up prepaid accounts for quicker checkout service and member-only benefits such as earning 1 free coffee after 9 coffee purchases.

• In July, 2007, the Company is opening its second retail location and its Headquarters/ Roasting Operations Hub and Distribution Center on Main Street in Downtown Westbrook, Maine. This location has qualified for Maine State [name of grant] for its role in developing job opportunities for lower-income employees in the Westbrook area. This is good news for this area, considering the steady slowdown of paper mill work and the closing of Chicky’s Fine Diner last month.

In addition to being a coffee roasting and distribution center, this location will become a coffee-culture center for Maine, offering educational tours, sampling, quality-production demonstrations, coffee expertise, and even retail merchandise. Training and quality assurance programs will also be available for wholesale accounts.

• Also in 2007, the Company will be opening its third retail location in the Millcreek area of South Portland, Maine. The Company has already signed a lease for a high-traffic, soon-to-be-disclosed location.

• Future goals for the Company include a steady track of growth as described above, plus a network of coffee/espresso carts throughout New England in larger employer locations and high-traffic retail centers.

Awards and Recognition

• In 2006 and 2007, the Freaky Bean’s business model and growing successes have been recognized by articles written in the Portland Press Herald, the Scarborough Current and Maine Biz.

• In March 2007, the Company was honored by the Maine Small Business Development Center as one of the top 30 businesses in the past 30 years.

• In July 2007, Our French Roast was awarded 2nd place at Def Con's 8th annual Coffee Wars.

Keys to Success

The Freaky Bean Coffee Company is committed to creating a unique workplace, defined by our values and united behind a common purpose:

To sell socially and environmentally conscious coffee in a fun, relaxing environment and to personalize service for every customer, all while striving to educate and respect team members and give back to the community at large.

With a warm and inviting atmosphere, The Freaky Bean is a place where your favorite drink is remembered by the baristas. A place where friends and family can sit and talk over a great cup of coffee while enjoying a changing selection of art and music provided by local talent. Wi-Fi access allows business people and students to unchain themselves from their desks and enjoy the outside world. The Freaky Bean's goal is for you to view us as a home away from home, a place to regroup and center yourself.

Target Customers

Anybody who likes great tasting coffee!

Challenges Faced

Opening two stores in just over one year, our biggest challange has been finding both the initial capital and employees to allow us to succeed in our vision

Where We're Headed

Currently, we are looking to open a third store by Spring 2008, with 3-4 additional store in the planning stages. We're looking to increase our ecommerce division, as well as our name and brand recognition throughout the United States.