Mag’s Marketplace

Raising $930 thousand for grocery and general market shopping area in food desert

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I am looking to open a general store in a rural community that is a food desert. I will partner with local farmers for access to produce and meats.  The current team that has been brought together is comprised of myself who has worked in both the retail grocery industry and hospitality via Walt Disney World, Robert Steverson my father who previously owned retail grocery locations, has worked in agriculture; Ron Judkins who currently operates successful automobile sales locations, child care facilities, and a bail bonds service; and Irene Kyere who is Team Leader and Senior Vice President with Southern First bank.  We are negotiating with the town to purchase a 35K sq ft retail space that was previously a Lowe's Food and a Just Save but has been vacant for 3 years.  We want to repurpose the location into a smaller grocery retail establishment of approximately 14K sq ft, provide space for the local farmer's market, and add smaller tenants such as a soul food restaurant, a marine supply store to support the local lake, a community space that can be used, and office space for a food education based 501c3.  Previous sales for the grocer averaged 4.3 million per year but they stated that overhead costs were too expensive for the area.  We also have agreement from the city to provide additional 100,000 in funds to help with upfit for the location to make it fit into the renovations happening within the town.  The city that it is located in has 20,000 people but the surrounding 15 miles swell to over 150,000 for 6 months out of the year.   The average income is $45,000 for the permanent residents who as of now must travel 15 miles to get groceries from anything other than a Dollar General.  Pitch deck available upon request.

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