Investors in the first $40,000 will be paid back 100% of their investment plus 75% on top.
|1||Launching black-woman owned and led wellness brand meeting demand for inclusive services and spaces.|
|2||Existing cold-pressed juice business has doubled 2019 revenue in 2020.|
|3||Yoga and juice sectors of the wellness industry represent a $30 million market in Nashville alone.|
|4||Opening first storefront in the heart of Nashville’s burgeoning Buchanan Arts District Spring 2021.|
|5||Storefront located in a neighborhood with established high-end retail and without competitors.|
|6||Expanding juice delivery with 5 cold-pressed juice vending machines in 2021 and 20 by 2024.|
|7||Launching a wellness app with streaming yoga and online juice store in Spring 2021|
|8||Operational Efficacy-Founder is a 6 Sigma Black Belt, Scrum Product Owner, and 500H RYT.|
The wellness industry is booming. Social media and the millennial generation’s focus on health and fitness have led to a boom in wellness-oriented brands and influencers. However, as the industry grows, a long-standing problem has only intensified.
The wellness industry has a representation problem. By and large, wellness spaces are dominated by brands built around a specific type of consumer - white, affluent, and unnaturally skinny.
Inner G is different. Led by Nielah Burnett, Inner G is building an inclusive community focused on empowerment, inclusion, and community. Inner G isn’t only a wellness brand that centers diverse people and diverse bodies. It is also focused on bringing empowered wellness and healthy habits in communities that lack access to healthy food and fitness options.
Inner G Yoga is opening the first juice bar and yoga studio in North Nashville’s emerging arts and culture corridor - the Buchanan Street Arts District.
Located in the heart of North Nashville, Inner G’s flagship store will bring health and wellness to the people in what has traditionally been a food desert. Located alongside thriving businesses with a shared focus on social impact, including Slim and Husky’s Pizza and Nisolo’s ethically made shoes, Inner G is ready to grow alongside them and the community where they are located.
The buildout of the new location is scheduled to start Jan 1st, 2021. Funding from the Wefunder round will help cover interior design, equipment, PR/marketing, videography costs for filming our virtual yoga classes, supplies for juice, and hopefully, if we reach our full goal, will onboard Nielah as full-time (as opposed to part-time).
Inner G was born 4 years ago as Nielah began developing juice recipes and developing training tools for yoga styles designed for any-body or any occupation. The business has grown as a juice subscription and delivery service. In 2021, Inner G delivered over 8500 boxes of fresh juice in 2020, earning $46,000 in revenue - a 2x increase from 2019.
Now, it is time to supercharge this growth and a moment when the market is finally recognizing the absence of representation in the industry.
With the support of the Wefunder community, in 2021, Inner G plans to:
The yoga and juice sectors of the wellness industry alone represent a $30 million market in Nashville along based on per capita national projections. Earning an average market share with the 18 other juice bars and 115 other gyms and studios offering yoga in Nashville translates to a 5-year revenue projection of over $2 million based on Inner G’s business plan.
This is before considering that there is an untapped and unengaged market for wellness spaces and brands that are inclusive and created for real people and every-body.
While we cannot guarantee an exact timeline, InnerG aims to have 3 juice bars and yoga studios open in Nashville by 2025, along with 20 fresh juice vending machines. We hope to be exploring opportunities in other regional cities to reach beyond the market for inclusive wellness in Nashville.
We are a growing business, supported by the Nashville Entrepreneur Center’s Inflight Incubation program and Mitsubishi’s Small Batch Ideas Incubator Network.
We are black-owned and woman-led.
We are passionate about spreading the power of juice, yoga, and positivity.
We are insistently inclusive and our yoga adapts to your needs.
We are focused on building strong, healthy community.
Most importantly, we have the right plan at the right time to bring wellness to the people through the power of juice and yoga.
InnerG Juice & Yoga has financial statements ending December 31 2019. Our cash in hand is $5,000, as of December 2020. Over the three months prior, revenues averaged $3,666/month, cost of goods sold has averaged $1,460/month, and operational expenses have averaged $2,780/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
InnerG Juice and Yoga is a grassroots first-of-its-kind cold pressed juiceria and full service yoga studio combined under one roof. Our mission is to help build better habits, that build better people, who build better communities, and we believe the synergy of freshly made raw juice and personalized yoga can help people achieve a wellness first lifestyle. We offer subscription based juice delivery as well as personalized yoga classes both in person and through virtual sessions.
By 2024, we hope to achieve $5M in revenue. We are opening our flagship storefront in North Nashville to serve as home base for juice delivery, in-store pickup, and yoga sessions. In 2021, we aim to place 5 Vitality Zones, across Nashville, serviced by fresh InnerG juice vending machines and popup InnerG yoga classes. In year 2, we plan to open two full-service brick & mortar locations and 10 Vitality Zones. In years 3-5, we intend to expand beyond Nashville, to Atlanta, Memphis, Chattanooga, and Denver. These projections cannot be guaranteed.
InnerG LLC was incorporated in the State of Tennessee in April 2017.
Since then, we have:
- Existing cold-pressed juice delivery business has doubled 2019 revenue in 2020.
- Yoga and juice sectors of the wellness industry represent a $30 million market in Nashville alone
- Opening first storefront location and yoga studio in the heart of Nashville’s burgeoning Buchanan Arts District Spring 2021.
- Juice shop and yoga studio is located in a neighborhood without competitors in either category and located with established high-end retail.
- Expanding juice delivery with 5 cold-pressed juice vending machines in 2021 and 20 by 2024
- Launching a wellness app with streaming yoga and online juice store in Spring 2021
- Member of Mitsubishi's Small Batch Big Ideas Incubator Network
- Member of two Nashville start-up incubators: the Nashville Business Incubation Center and Nashville Entrepreneur Center's Inflight Incubator
Historical Results of Operations
Our company was organized in April 2017 and has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 6 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital again in 24 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
InnerG LLC cash in hand is $5,000, as of December 2020. Over the last three months, revenues have averaged $3,666/month, cost of goods sold has averaged $1,460/month, and operational expenses have averaged $2,780/month, for an average burn rate of $574 per month. Our intent is to be profitable in 12 months.
Since the date that financials cover, InnerG has earned $34,956 in revenue, and $13,921 in net income. This is due primarily to a shift in operations. Between 2018 and 2019, InnerG Juice changed from distributing bulk juice for catering companies, bars and small events, to primarily serving the end customer via 6 packs of juice for residential or office based delivery.
We expect revenues to increase from an average of $3,666 to an average of $7,731 from December 2020-June 2021. The sharp growth is due primarily to opening our storefront, planned for February, 2021. We currently only sell juice for delivery based on advanced ordering due to limited capacity to produce juice. In addition, we are currently not offering virtual or in person yoga classes or teacher training. Opening the storefront will expand our production capacity, add new product lines and sales channels, and enable InnerG to us to generate revenue from yoga classes. Monthly expenses are expected to increase from an average of $2,780 to approximately $6,000, inclusive of overhead, marketing, and utilities expenses which will increase due to the storefront.
It is projected to cost $79k to complete the buildout of the new storefront. InnerG currently has capital dedicated to the construction and design but is relying on raising at least an additional $33k from Wefunder to complete the buildout.
Current operations are founder funded. InnerG has no outstanding debt to banks or private investors and only plans to seek bank funding if unable to successfully raise capital through WeFunder.
COVID-19 and related mandatory closures and capacity restrictions can reduce sales projections which include dependencies on the number of in person yoga classes as well as the number of walk-in juice sales.
The business is self-funded by the founder and runs on limited capital. The current operating capital is dependent on the founder working a full-time job outside of InnerG LLC. The founder will be able to work on InnerG full time if the maximum goal for this offering is reached.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
Fresh food vending machines are a first to market, and are subject to permits granted by the Department of Health Services.
Fresh juice is made from local produce, which is subject to volatility in commodities pricing.
Revenue projections assume InnerG LLC will grow its brand to 2 stores in 2 years, and 3 stores in 5 years. Store to store growth is dependent on the success of the first store, considering funding for the 2nd and 3rd stores comes from the profits of the first store.
Construction of the Company's new brick and mortar location is scheduled to begin Jan 1 and complete by Feb 28th. It may be the case that construction gets delayed due to factors outside of the control of the Company. In this case, the opening of the new location may be delayed and current revenue projections may be altered.
Nielah Burnett is a part-time officer. As such, it is likely that the company will not make the same progress as it would if that were not the case.
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