Mike & Patty’s successfully raised $150,000 of investment on Mainvest. Mainvest was lucky enough to host them on a recent webinar, as part of their Brick & Mortar series. Mainvest featured the owner, Michael Gurevich, who recently launched the Mike & Patty’s Jamaica Plain neighborhood of Boston location. We also hosted Bradley Ellis, the owner of Breakthrough Marketing, who represents all of Mike & Patty’s marketing efforts and works with a variety of local brands. You can check out the recording here.
THE STORY
Owners Ania Zaroda and Michael Gurevich purchased the original Mike & Patty's location in Bay Village in 2012 and fell in love with the business of providing an amazing breakfast experience to both Boston locals and out-of-town visitors. Breakfast has always been their favorite meal of the day, and they've been able to expand their tiny sandwich shop to two other locations in the greater Boston area.
THE MISSION
Their mission is to create an unforgettable craft casual food experience that inspires guests to spread the word about the brand.
BUSINESS MODEL
Based on the owners’ experience with three other locations, Mike & Patty's Jamaica Plain will be primarily takeout-focused. The business has been able to survive and thrive during COVID because the owners believe a takeout-driven model with a streamlined menu is the best way to optimize costs.
Since 2012, the team behind Mike & Patty's has grown from operating a single 175-square-foot sandwich shop to a boutique hospitality management group with 3 locations.
Formerly Sorella's, the Jamaica Plain restaurant space requires minor remodeling as well as updated utilities and equipment. While they've self-funded two other locations, they believe Mike & Patty's Jamaica Plain - the largest and first dine-in location - is an exciting opportunity to bring the community into the business! Funds raised were used for:
Construction costs to finish remodeling the restaurant space (formerly Sorella's)
Code-compliant commercial kitchen equipment
Initial operating expenses
DURING THE CAMPAIGN
Examples of ideal Mainvest content
Mike & Patty’s produced engaging content that built excitement throughout the campaign. An example is this graphic, a thermometer showing how the team is close to the target of their Mainvest campaign. Mike & Patty’s brand is clear, with Mainvest being tagged clearly on their social media content.
Another example of ideal Mainvest content is to hype up investor perks. Investor perks incentivize your community to invest even more.
Invest 1.5k or more- receive breakfast for a group of 20!
Invest 5k or more- name your own sandwich
Invest 10k or more - get a sandwich every day for a YEAR
The social media graphic explaining their perks is available here.
Consistent investor updates
Updating your community is a great way to build trust with those who are taking the risk on of investing in your business. Mike & Patty’s was quick to make sure everyone was aware of what was happening. Their appreciation for investors through the campaign was obvious as well. You can look at their updates here.
What can Mainvest do for your business?
Mainvest allows you to raise capital from your community, without giving up any ownership or control in the process. By running a Mainvest campaign, you can engage the community and get buy-in from local stakeholders. If you are ready to take the next step as an entrepreneur, reach out to us here.
Written by Abigail Sullivan, Community Manager @ Mainvest, and Lauren Berestecky, Business Success Manager @ Mainvest