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“Taste of Soul”- Foods Innovation Kitchen

“Taste of Soul”- Foods Innovation Kitchen. Slow Money Wisconsin Presentation By Pastor Walter Harvey Parklawn Assembly Of God Church. Business Overview and Strategy.

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“Taste of Soul”- Foods Innovation Kitchen

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  1. “Taste of Soul”- Foods Innovation Kitchen Slow Money Wisconsin Presentation By Pastor Walter Harvey Parklawn Assembly Of God Church

  2. Business Overview and Strategy “ Taste of Soul” Foods Innovation Kitchen located at Parklawn Assembly of God Church in Milwaukee, Wisconsin is a for profit innovation kitchen that will develop compliant recipes and manufacture pilot-scale volumes for start-up food enterprises. The enterprise will create job opportunities for inner city residents by employing a trained staff. • Fruit Spreads • Vegetable Condiments • Dry Mix These products are organic, pesticide free, locally sourced, canned fresh, and maintain a small carbon footprint

  3. Business Overview and Strategy (continued) Milwaukee’s Current Fortunes • Severe economic decline, poverty, and high school dropouts • Inner city unemployment rate 16.3% • 60 % African-American men unemployed

  4. ForbesBest Cities For Minority Entrepreneurs The booby prize went to the Milwaukee metro area (out of 52 metro areas). The former beer-brewing capital ranks in the bottom eight—or worse—in self-employment among all three major minority groups: • African-Americans • Hispanics • Asians Brett Nelson, Contributor

  5. Forbes Best Cities For Minority Entrepreneurs (continued) One big problem: fewer customers. The city has shed residents in each of the last six censuses. Another: “Milwaukee has had among the worst job-creation records of any big city in the U.S. for over a decade,” says Mark Levine, executive director of the Center for Economic Development at the University of Wisconsin-Milwaukee. Bottom 6 cities 47. Detroit-Warren-Livonia, MI 48. San Diego-Carlsbad-San Marcos, CA 49. Minneapolis-St. Paul-Bloomington, MS-WI 50. Chicago-Naperville, Joliet-IL-IN-WI 51. Cleveland-Elyria-Mentor, OH 52. Milwaukee-Waukesha-West Allis, WI

  6. The Market – Our Solution Current Market The Slow Food Movement The Farm-to-Table Movement Food Entrepreneurs looking to outsource the preparation, packaging and labeling of private recipes Solution Create jobs Create wealth by creating food entrepreneurs

  7. Products • Unique features (shelf stable products) • Benefits (healthier foods and fulfilling the PRISM Mission)

  8. Market Opportunity Sources: Census Bureau, Bureau of Labor Statistics, IMPLAN and UW-Extension

  9. Sales Model The “Taste of Soul” Foods Innovation Kitchen plans to manufacture shelf stable food products for entrepreneurs who will sell on their own and through our own established accounts sell on behalf of he entrepreneurs whose products we produce.

  10. Sales Model – Products Introduction Phases Phase 1 – Consumer Sales • Farmer’s Markets • E-commerce site Phase 2 – Private Labeling • Clients that are referred by small business support organizations, commercial lenders, and local business incubators Phase 3 – Grocery Stores • Sell directly to Grocery Stores with the aid of manufacturing rep. Phase 4 – Restaurants • Will sell directly to restaurant supply stores and wholesalers with aid from manufacturing rep.

  11. The Competition Competitive Advantage Existing 2400 S Q FT kitchen facility complete with a dishwasher, 2 stoves 2 refrigerators, 2 freezers, and 1 microwave oven in addition to a to an on-site Parklawn Café to test marketing products Competition • Home businesses • Hobbyists • Private label companies • Wisconsin Innovation Kitchen • Companies who manufacture products in house like Heinz, Smucker’s, Stubbs, McCormik, KC Masterpiece

  12. Potential Collaborators Urban Economic Development Association (UEDA) Growing Power Larger Food Manufacturers

  13. Management Team • President • Certified Kitchen Manager • Assistant Manager

  14. Advisors/Professionals Advisors Landa Carson, Dr. Andrew Williams, Benjamin Engel, and Pastor Walter Harvey Professionals Steven DeVougas – Attorney Edward Bryant – Banker Sunnela Jones-Ash – Accountant Dr. Keenan Grenell - Consultant

  15. Milestones Accomplished Developed a business plan complete with financials Identified potential funders/investors Made second round (8 firms) of the Slow Money Competition

  16. Financial Support Staff recruitment and training Operations Equipment purchases Marketing and branding Business development support (consultants) Taste of Soul Foods – Innovative Kitchen 3725 North Sherman Blvd Milwaukee, WI 53216 pastorharvey@parklawn.org (414) 442-7411

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