Shay and Mesha Cousins aim to expand their boozy cupcake bakery with additional staff, an expanded menu and a second location. (Courtesy Tipsy Cupcakes)
A Carytown-based bakery that specializes in alcohol-infused treats has its eyes set on expansion.
Less than a year after opening a storefront in June 2019, Tipsy Cupcakes RVA has embarked on a capital campaign to fund an expansion that could include a second location, an expanded menu and a pastry chef to help out in the kitchen.
The brainchild of owners Shay and Mesha Cousins, two sisters who decided to ditch jobs in banking in favor of baked desserts, Tipsy Cupcakes is conducting the campaign through Mainvest, a Massachusetts-based company that leverages crowdfunded investment to help small businesses grow.
The campaign runs until March 4, with a target set at $10,000. As of Monday, the bakery had raised $6,900 toward that goal. The campaign maximum is set at $100,000.
“We wanted to give our community an opportunity to be able to invest in our business,” Shay said. “We’ve wanted to have more than one location and to make Tipsy Cupcakes a big thing on a wider scale.”
The bakery will have to meet its minimum target or the money is returned to investors. In exchange for a minimum investment of $100, investors get a cut of the bakery’s gross revenue if the campaign is successful.
Mainvest is a regulated crowd-funding platform focused on small businesses. A company spokeswoman described it as allowing members of a community to invest money in a project, which opens up the accessibility for investment and gives local residents more of a say in the area’s business offerings.
While the minimum campaign target will get the ball rolling, the major elements of the expansion plan can come together only at the $25,000 and $100,000 marks. At $25,000, the bakery plans to spend more on marketing, add the pastry chef to its four-person shop and expand the menu, as well as make its baked goods available in other restaurants and stores. The second location will require that the campaign hit $100,000.
The sisters said a pastry chef will be key to expanding Tipsy Cupcakes beyond its current store at 3423 W. Cary St. With that extra pair of hands in the kitchen, the bakery can better manage current demand and provide the product that would find its way into other stores and restaurants. That extra help also will allow the sisters to focus more on management.
The sisters want the second location to be set up in either Shockoe Bottom or Short Pump.
“Our goal is to make it as self-sufficient as possible. It is our baby, so it is kind of hard to back away, but you also want to get the fruits of your labor. You want to be able to relax and have the business go smoothly without you having to be here 24-7,” Mesha said.
Tipsy Cupcakes isn’t the first Richmond business to utilize Mainvest. In late 2019, Claudia’s Bakeshop ran a campaign through the platform, according to the company. Mainvest’s website shows Claudia’s Bakeshop has raised $75,200 through the service.
Shay and Mesha Cousins aim to expand their boozy cupcake bakery with additional staff, an expanded menu and a second location. (Courtesy Tipsy Cupcakes)
A Carytown-based bakery that specializes in alcohol-infused treats has its eyes set on expansion.
Less than a year after opening a storefront in June 2019, Tipsy Cupcakes RVA has embarked on a capital campaign to fund an expansion that could include a second location, an expanded menu and a pastry chef to help out in the kitchen.
The brainchild of owners Shay and Mesha Cousins, two sisters who decided to ditch jobs in banking in favor of baked desserts, Tipsy Cupcakes is conducting the campaign through Mainvest, a Massachusetts-based company that leverages crowdfunded investment to help small businesses grow.
The campaign runs until March 4, with a target set at $10,000. As of Monday, the bakery had raised $6,900 toward that goal. The campaign maximum is set at $100,000.
“We wanted to give our community an opportunity to be able to invest in our business,” Shay said. “We’ve wanted to have more than one location and to make Tipsy Cupcakes a big thing on a wider scale.”
The bakery will have to meet its minimum target or the money is returned to investors. In exchange for a minimum investment of $100, investors get a cut of the bakery’s gross revenue if the campaign is successful.
Mainvest is a regulated crowd-funding platform focused on small businesses. A company spokeswoman described it as allowing members of a community to invest money in a project, which opens up the accessibility for investment and gives local residents more of a say in the area’s business offerings.
While the minimum campaign target will get the ball rolling, the major elements of the expansion plan can come together only at the $25,000 and $100,000 marks. At $25,000, the bakery plans to spend more on marketing, add the pastry chef to its four-person shop and expand the menu, as well as make its baked goods available in other restaurants and stores. The second location will require that the campaign hit $100,000.
The sisters said a pastry chef will be key to expanding Tipsy Cupcakes beyond its current store at 3423 W. Cary St. With that extra pair of hands in the kitchen, the bakery can better manage current demand and provide the product that would find its way into other stores and restaurants. That extra help also will allow the sisters to focus more on management.
The sisters want the second location to be set up in either Shockoe Bottom or Short Pump.
“Our goal is to make it as self-sufficient as possible. It is our baby, so it is kind of hard to back away, but you also want to get the fruits of your labor. You want to be able to relax and have the business go smoothly without you having to be here 24-7,” Mesha said.
Tipsy Cupcakes isn’t the first Richmond business to utilize Mainvest. In late 2019, Claudia’s Bakeshop ran a campaign through the platform, according to the company. Mainvest’s website shows Claudia’s Bakeshop has raised $75,200 through the service.
Is there really a hankering for MORE cupcake shops in RVA? In addition, this article seems on the line between actual reporting and sponsored content begging for investors.