Worcester Business Journal

14 Worcester Business Journal | May 5, 2025 | wbjournal.com make all the difference REL ATIONSHIPS At Country Bank, we're made a little different. We have the expertise, resources, and tools you need to turn opportunities into growth. It's not just banking to us. We're here to make a difference for your business and we believe that it starts with a great relationship. F O C U S SMALL BUSINESS in the long term," he said. Aer Cordella's owners spoke with Chanowski, they knew NuMarket's model was the right place to take their fundraising goals. "It just felt like a win-win for every- one," said Bishop. NuMarket helped prepare Cordel- la's before its campaign went live and has continued to provide support and guidance including help with campaign structure, graphics, and copywriting. Since the launch, Cordella's has seen a noticeable increase in both business and engagement, in–person and online. "It's not like they're just donating to this page on the internet," said Jimison. "So many regulars and new people have come in and just asked us questions about it and talk to us face to face." ose conversations oen include how the campaign works and how Cordella's ends up making money even with the 120% credit. Bishop said that food and beverage businesses ideally earmark 30% of a price tag for the cost of goods with the remaining 70% consisting of labor and operational costs and profit. So while someone who invested $100 will get a $120 gi card, Cordella's isn't losing $120 in goods and labor in return. Additionally, the campaign's structure to offer the credits on an incremental basis safeguards Cordella's from being hit all at once thousands of dollars worth of credits. Growth in motion As of April 23, Cordella's had raised $24,513 from 209 contributors toward its $50,000 goal. While the campaign was supposed to conclude at the end of April, NuMarket offered Cordella's an extra week of fundraising time, meaning con- tributors now have until May 7 to invest. e shop plans to begin preliminary work on its expansion in May and hopes to start construction by June 1. Before it launched its crowdfunding campaign, Nan's was growing at a rapid clip: its eateries generated more than $2 million in its first year of business, $2.5 million in its second, and $2.7 mil- lion in its third. Mackey then decided to plan for longer-term, larger-scale expansion. Mackey set a goal to raise $1.2 million, which the company will match to open four more Nan's storefronts throughout the state, aiming to operate 12 total shops within the next five years. "It kind of enabled us to continue to grow under the merits of our own cash flow, at least at a certain speed," said Mackey. He knows this model of financing won't be sustainable indefinitely. As the chain grows and continues to raise larger and larger sums of capital, it won't be possible to have conversations with the number of investors it will take to raise the likes of $5 million or $10 million in exchange for equity. "Obviously, we're going to be looking for larger investors at some point, but we want to continue to be able to have the community participate because how cool would that be to invest in your favorite restaurant and wind up making money," he said. "ere's tons of people out there. ey're trying to build wealth for them- selves and change the dynamic of how they do it. And the best way to do it is to invest in things you believe in." Continued from previous page Mackey started Nan's Kitchen after a long tenure as a fine dining chef. "I was a show pony and a white jacket for fancy hotels for many years, and I just didn't want to do it anymore," he said. "We wanted to do something more community oriented." W

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