GROW YOUR FOOD BUSINESS. PREPARE FOR FINANCING.
Food Finance Essentials is a multi-week intensive experience designed to tune up your business model, improve your financial know-how and operations, and position you for financing.
This training is for you if your Food Business is interested in:
- Clarifying your business model because you’re expanding or pivoting
- Understanding your financial position now and in the next 12-24 months
- Identifying your capital needs and what your business can afford
- Practicing your business pitch
- Preparing to apply for funding, loans, or other investment
This training is fun and intensive! Over the course of several weeks, you will participate in group
Zoom sessions (10am-Noon) about 1x/week with the entire group to learn critical concepts, then work in 1:1 sessions with an advisor and on your own during each week on your specific homework. The training culminates in a storytelling showcase event.
Learn from Experts and Advisors. Leave With:
- A business model tune up
- Profit & loss statements, uses of capital for your business, and your capital needs
- 1:1 advising/coaching from business professionals
- Downloadable templates, worksheets, resources, and tips you can use anytime
- A pitch deck you can use for any funding or loan application
PLUS: Participants who complete the training will be eligible to receive additional technical assistance in accounting or industry-specific professional consulting to prepare for growth and capital.
6 Spots Available. Apply by April 29.
Requirements & Eligibility
- You’re a “good food” business. You’re a product maker, a restaurant/caterer/mobile truck owner, or a farm/CSA focused on using whole, minimally processed ingredients and are located in Metro Detroit or Washtenaw County.
- You’re a growing business. Your business has been in operation for at least 2 years, generating an annual revenue of $20K+, and seeking financing or investment in the next 6-12 months. No Pre-Start Ups for this training.
- You’re ready to commit. You and one colleague (optional) are highly motivated and able to commit to the training schedule below (2 hour sessions), meet with advisors for up to 2 hours per week, and spend additional time on your own each week to complete homework.
- You can connect and are familiar with online tools. You have access to a computer and Internet connection to participate via Zoom. You also have some familiarity with Power Point, Google Slides, Excel or Google Sheets.
(Each session will be 2 hours long from 10am – Noon ET)
- Monday, May 9 – Session 1: Training Kick Off, Business Model Tune Up
- Monday, May 16 – Session 2: Components of a P&L, Your Financial Position, Financial Forecasting, Understanding Cash Flow
- Monday, May 23 – Session 3: Uses of Capital, Identifying Capital Needs, How Much You Can Afford
- Monday, June 6 – Session 4: Pitch Deck components, What Lenders Look For, Loan Application Checklist
- Week of June 13 – Final Session: Pitch Storytelling Event* – The training culminates in a pitch storytelling event in front of advisors and other industry guests to gain additional experience and insights.*This event may take place in-person in Detroit or virtually depending on COVID safety preferences and guidelines.