Ancho Honey: Locally Sourced Ingredients & Funding
Ancho Honey is a small takeout restaurant in coastal St. George, ME. Founded by Malcolm Bedell in 2019, Ancho Honey aims to bring high-quality, affordable food to everybody while maintaining extraordinarily high levels of creativity, quality, and attention to detail. After a powerful community response and growth, Malcolm turned to Mainvest to raise funds for his expansion concept, Honey’s Fried Chicken Palace.
Ancho Honey raised $124,000 from nearly 200 investors in late 2023. Read more about their fundraising journey here.
Why Mainvest?
Mainvest’s focus on community aligned with Malcolm’s values. The revenue sharing note was an ideal financing structure for this highly seasonal business, building in much-needed flexibility for slower months while maintaining a compelling return for investors.
“I really liked the idea that, unlike a typical crowdfunding campaign, Mainvest offered me the opportunity to structure my fundraising as a real investment for our customers, without having to tackle any of the legal or ongoing record-keeping and payment requirements myself. I also really liked the way Mainvest opened up my campaign beyond the reach of my customers, and to their own pool of qualified investors.”
Community alignment
Revenue sharing structure
Flexible repayment terms
The Fundraising Process
With around 4 years business under its belt, Ancho Honey used Mainvest to share its story of success and future vision. The campaign focused on the restaurant's commitment to community and quality, outlining plans for expansion with the new location and brand. With a strong existing following, Malcolm initially used direct outreach and existing marketing channels like organic social media and email marketing. Throughout the campaign, press opportunities offered greater reach.
“I was really happy with the degree to which Mainvest marketed my campaign across social media and to their pool of investors. I also really liked the 'flow' and timing of the campaign…it kept potential investors on the hook and seemed to re-target them at the right time to ensure we raised the maximum amount of capital. The team was incredibly helpful, responsive, and friendly throughout the process. I always knew that when an issue or question arose, I could have it answered competently and quickly, at any time of day or night.”
Methods used:
Word-of-mouth
Direct pitching
Organic social media
Email marketing
Press
Tangible Results
Ancho Honey’s campaign was oversubscribed within weeks, reaching their maximum goal of $124,000 ahead of their funding deadline. Funds raised were immediately put to work in the build out of the new location, and Malcolm expects an early spring opening for Honey’s Fried Chicken Palace. Follow along with their progress on the Honey's Fried Chicken website and social media.
“We hear every day from customers (and total strangers!) who are incredibly excited about our second restaurant. Mainvest supercharged our own efforts to raise investment capital, unlocking access to a nationwide group of entrepreneurs and providing the tools we needed to communicate most effectively. We loved every second of it.”
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