Spruce Soda Company | Application Preview
Spruce Soda Company is seeking government grants to support working capital needs during the pandemic. The funding will help consolidate a $5,000 credit balance, cover rent, purchase raw materials for production, and create opportunities for research and development.
The company has ventured into online retail since November 2020, aiming to market their concentrated syrups nationwide. Additionally, with 7 years of experience in the coffee industry, Spruce Soda plans to expand into this market by establishing a physical location that would offer soda tastings and coffee.
The application emphasizes the company's dedication to crafting beverages that resonate with consumers who appreciate quality ingredients. Spruce Soda distinguishes itself from competitors like Northern Soda Co, which targets a younger audience with artificial flavors, and Joia, seen as out of touch with current craft beverage trends. They focus on using real juice, whole botanicals, and cane sugar, produced in small batches, appealing to a discerning customer base.
By highlighting the uniqueness of their products that complement cocktails and offering an interesting non-alcoholic option at social events, Spruce Soda aims to secure the funding needed to grow and thrive in a competitive market.
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General Information
Business Registration Number: 41-4715933
Location: MINNEAPOLIS, MN, United States
Length of Operation: 3
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
Our needs are working capital during the pandemic, consolidating an open $5,000 credit balance, pay for rent, purchase raw materials for cost of goods sold, and create room for R&D
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Business Plan
We are expanding into the online retail space at of November 2020. This opens up selling our concentrated syrup across the United States and is an untapped market for us. Beyond soda, we have 7 years of Coffee Industry Roasting and Sourcing under our belts and are currently researching adding a coffee wing onto our Spruce Soda Business. This would roll our rent and production expenses over into our own brick and mortar location where we can have limited hours for pickup or a soda tasting room with coffee provided as well. Passionate and hard working, we are dedicated to craft beverages, and have a following of individuals that believe in our product and our person to not only be brand ambassadors, but a product that practically sells itself once you get it in front of the buyers or consumer.
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Self Identified Competition
Northern Soda Co is in Minnesota. They focus on classic 50s style soda fountain beverages that has a branding that screams to kids. They have artificial coloring, and it doesn't work as well with cocktails or jive with adults as a go to for soda purchasing. Joia is another soda company, but is in a position of mainstream business that tends to be a turnoff. Originally ahead of its time for craft beverages, they are not a solid middle option for good soda. Seltzer competitors. Everyone is jumping on board to the seltzer beverages, but this is nothing we are concerned about as we are not going for a low calorie or alcoholic alternative to beer or high fructose beverages. Real juice, whole botanicals, cane sugar, and always done in small batches. Our company is family operated and run, we pride ourselves on using ingredients people can read and understand. Our beverages are crafted to always pair with a cocktail. If the consumer is non-alcoholic or a sober driver, then they can have a soda that is interesting at a brewery instead of just a basic coke while everyone gets a special beer.
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Contact Applicant
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