UPDATE: We have prepared and completed our business plan and the drawings of our 20,000 sq.ft. grocery store concept. Citizens Trust Bank, a black owned bank in Atlanta, GA, is holding the funds raised during our crowdfund and we have a meeting scheduled with the Senior Vice President and Commercial Banking Division Manager on ways to leverage our dollars to execute our business plan. Ultimately, our goal is to create a model store that can be replicated across the nation; a model that we hope all of you will invest in when we create our equity crowdfunding campaign!
Soul Food Market will be a Black Owned supermarket chain selling products from the African American community. The selection of naturally grown vegetables and fruits will be sourced from Black farmers in Georgia. New and exciting products ranging from everyday necessities such as diapers and detergent to all natural household cleaning products will stock the shelves! Soul Food Market is seeking $1.2 million dollars in a series of 30 day campaigns in order to purchase a facility currently under contract, for its renovation, and operations. Soul Food Market has plans to become an national supermarket chain reaching all major predominantly Black communities.
Benefits of a Grocery Store?
- We plan to source our produce from local and neighboring state African American farmers.
- Become one of the largest distributors for Black owned products, creating monumental opportunities for our community.
- Hire and train our youth and those in our community that have a passion for healthy living.
- Encourage healthy living and reduce our communities obesity and other health related issues.
- Help redirect the 1 trillion dollars spent outside our community each year, and to establish one of the most essential parts to any community, a grocery store.
- Become an institution large enough to help secure a future for our community’s generations to come.
What will happen with the money raised?
Is there a need for Soul Food Market?
After sampling 500 hundred families in the local Atlanta area where we plan to open the first grocery store, our data showed that the average household spent $650 dollars a month in Groceries. With just 500 families, that’s over $3 Million leaving our community each year. This campaign is not only to help our dollar in our community, it’s also to provide our people with jobs. Currently, African Americans have the highest rates for joblessness in America, however, Black owned businesses are the second largest hiring agent after the government. Therefore, creating more successful Black owned businesses will help increase jobs within our community. Soul Food Markets, housing hundreds of products, will not only hire our community, but allows every vendor to grow with us and to ultimately hire our community as well.
Why Support Soul Food Market?
After launching WeBuyBlack.com 3 years ago, I never thought that we would become an international movement to support all Black owned businesses. Since then, we’ve circulated millions of dollars in our community and even helped aspiring entrepreneurs quit their jobs to go into business full time, or to hire over 7 people in their community, or to generate over a $250,000 annually, or even to purchase their own manufacturing plant! We know we can help increase these successes for more businesses within our community, however we need your help. Having a successful supermarket where all the products sold are from our community will quickly change the perception in our community that we are not farmers, producers, and manufacturers.
What are the risk?
We are currently under contract to purchase a 20,000 sqft building to produce the supermarket. However, we must raise $425,000 within a few days in order to close on the property. We risk loosing $5,000 of our earnest money if our goal is not reached. On the bright side however, we are very confident we will hit this goal, especially if everyone reading this stops what they are doing and give a generous donation! Anything and everything counts! Thank you!!!
Shiba Alfatah12/03/2019Our Will be done!$50.00
Michelle Foster11/20/2019Much much much much success to you! All the way from New York$10.00
Chanel Robinson11/18/2019No need to send letter. Wish you the best!$10.00
11/17/2019I think this is awesome. The black communities need this!$10.00