Invest Local: Recent Episodes
John Crawford, Josh Rollins, Malcolm McDonald
This podcast tells the stories of local entrepreneurs and change-makers in the southeast. With small budgets and big dreams, these are the businesses down the street from you, building a better future for themselves and our communities.
Vicinity Capital is an investment Crowdfunding platform focused on community investing, local business and economics. We're on a mission to educate and connect local investors with local businesses to support thriving local economies.
Vicinity is where financial capital meets social capital.
Live entertainment management rock star Michael Grozier joins the Invest Local Podcast to share his vision for Greenville's burgeoning music scene. Steeped in 3 decades of work with the country's top live entertainment brands such as Live Nation and House of Blues, Michael is pouring all his learnings into his latest project, Trueline. In this episode, we talk about the importance of venue variety for a thriving music city. We dig into lessons learned about creating experiences and caring for artists. We also talk about why Michael is excited about this location specifically and he shares his strategic recipes for maximizing experience and revenue for the new venue.Tune in to hear all the details and check out Trueline's investment page here: https://marketplace.vicinitycapital.com/offers/51
Bryan Beal and Nate Tomforde join the Invest Local podcast giving a peak behind the curtain on their new development Trade Street Social. Hear how Bryan's real estate chops and Nate's food and bev expertise combine to create these unique development projects they're calling "Crafted Community Concepts" With 3 Crafted Community Concepts already under their belt this crew makes it look easy. Don't be fooled though, hearing the complexity of each site and the strategy that goes into each one, makes it clear that these projects are best left to the pros. Pros with 60 years of combined industry experience...
https://www.blackdollar.ninja/
https://www.blackdollar.ninja/map
https://blackfriday.market/
Steph and Brandon Prime are reinventing the greeting card experience. They're on a mission to murder the card aisle with their new invention: on-demand printing from customized kiosks. Their card kiosks are outfitted with high-quality paper, high-powered printers, and high-touch ipads, designed to make beautiful cards with local art instantly available with the tap of a touchscreen. Tune in to hear how they're planning to take over the $8 billion greeting card market while pumping dollars back into their local economy.
HUBB Kitchens is currently holding a Testing The Waters campaign on Vicinity's platform. The page and details on the potential raise can be found here: https://marketplace.vicinitycapital.com/offers/PreviewOffers/Njg3MDU=
This is not currently a live securities offering.
- No money or other consideration is being solicited, and if sent in response, will not be accepted.
- No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform.
- A person's indication of interest involves no obligation or commitment of any kind.
Grain dealers is currently running a "Testing the Waters" campaign on Vicinity's portal. You can find the campaign page here.
The campaign not currently a live securities offering.
No money or other consideration is being solicited, and if sent in response, will not be accepted.
No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through an intermediary's platform.
A person's indication of interest involves no obligation or commitment of any kind.
This week the team tackles a popular topic in investing: Liquidity. The private markets have long been largely illiquid, posing an increasingly stark contrast to now easy-to-trade public securities. As more and more investors gain access to private investments, the demand for cash-out options has grown as well. In this episode, we cover the good, the bad... and yes, the ugly of liquidity. What does it have to do with Vicinity's vision for the future? Tune in to find out!
Michael Shuman's Website (you can sign up for his newsletter here):
Michael's Book Put your money where your life is
This week the crew tackles a topic that’s gaining steam in our vicinity: needs and trends in the growing real estate developer market. As Crowdinvesting grows in popularity, new needs and opportunities have sprung up as well. From managing the inbound and outbound flow of funds to keeping your investors in the loop after the deal closes, growth has brought a new set of problems. We discuss some of the pain points that have come from this expanding market of small to mid-sized real estate deals. Tune in to hear how Vicinity is thinking through these challenges and learn how investors can nab this new asset class in the process.
Doug and Laurie Duncan join the podcast to give us a peek behind the curtain of a real-life family business takeover. They share what joys and challenges come with running a family business along with the lessons they've learned making the shift from employees to owners. We discuss how they navigated respecting and preserving the local family reputation while maintaining a steady, persistent pursuit of improvement as they prepared to take on the business. Tune in to hear how they balance family with building a better business for their kids.
The Vicinity team discusses how to evaluate an opportunity by going inside the mind of a business owner. Where do you start, what challenges do you tackle first, and how do you prioritize as you go? What does it really mean to "fail fast, fail cheap" and do your investors really care? This episode digs into all these questions and attempts to give clarity around the pursuit of opportunity evaluation with a simple takeaway question: Does the business create value that's worth paying for? Tune in and tell us what you think!
Website: www.bricdynamics.com
Zeb's number: 864-4two1-2three85
Timestamp notes:
3:34 - Original plan for Bricolage was plastic. “climb the smaller mountains first”
4:47 - The various outputs and uses of the bricolage machines
7:14 - Shrinking municipal programs are creating a market for privatized residential recycling
8:49 - The glass recycling problem is really a supply chain problem - how Bricolage is approaching the industry differently
12:11 - Cities are struggling with recycling
12:49 - Current programs are opaque with little visibility into what happens after the waste leaves your home
13:28 - Transparency is important from a community standpoint so people can see what’s being done with their recourses
14:09 - Balancing 2 lines of business is tough but Zeb doesn’t see it being possible any other way
16:03 - Zeb’s vertically integrated model keeps them from being dependent on any individual city
17:12 - The benefit of privatized recycling
19:04 - The sand shortage
20:36 - Why is now the right time to raise capital for Bricolage?
21:22 - The challenge of Bricolage functioning as a manufacturing company
23:25 - What the future looks like for bricolage
Crowdfund article & stats referenced: https://www.crowdfundinsider.com/2021/07/177979-reg-cf-the-number-of-finra-regulated-funding-portals-plateaus/
1:45 How Naked Pasta got started
3:57 Why people don't make their own pasta more often
7:28 How they balance production with distribution as a small business
8:48 It’s the specials every week the keep things fun
9:54 How they use seasonality to keep things interesting
12:22 “We’re not using local for the sake of local, We’re using local because we have such a rich community here of quality and talent… We’re not doing anything special, it’s just that the inputs we’re using are very special.”
12:56 Consumer vs business owner perspective on buying local
18:20 How Brett got into trivia & what makes for a good round
20:36 The value in having fun & being original
22:37 NP’s new location: https://poinsettcollective.com/
Link to RSVP for our event at Fireforge 7/22: https://www.facebook.com/events/1109941142862534
Investment crowdfunding regulations don't often change, but when they do, the impacts are usually significant for investors. Today the Vicinity team sits down to discuss the importance "Testing The Waters" - one of the latest additions to Regulation Crowdfunding. In short, it allows companies raising capital to discuss their raise publically before going through the process of filing a securities expemtion. Tune in to get the low down on how the new rule works and hear what makes this change so significant.
Garrett Coyne, a local real estate developer in Huntsville AL shares his take on the booming real estate market. Even with a mix of commercial and residential deals, there is a common thread through Garrett's projects. His strategy always starts a deep understanding of his community and keeps a close eye on the trends of the neighborhoods he invests in. Tune in to hear why Garrett is so excited about the Huntsville market and how he's using his love of community to make the most of this boom.
:49 - Where Investment crowdfunding dollars typically come from
1:07 - Are we near a tipping point for Investment Crowdfunding?
1:52 - The reason Will invests in real estate & revenue shares with Reg CF
2:54 - The money people put into the stock market is disconnected, local private investors are enjoying a much more relational experience
3:45 - As more people get into private investing - relationships that have been disconnected on the stock market will become re-connected via the local markets.
4:27 - What’s changing vs what’s staying the same in investing? The common thread is trust
6:45 - Will’s advice for first time investors
7:55 - Exploring campaigns can lead you to understanding new things about our community
11:15 - Even for Kids, Crowdfunding has opened up a world of possibilities by connecting a community in a way that didn’t exist before.
12:30 - How “crowd Private Equity” can actually help gentrification
17:17 - What the future of CF looks like
18:20 - As people rediscover their local community a new desire to build the community has been born - rise of the neighborhood
1:34 - Why Will started INCOLO (formerly Crowdfund NC)
2:27 - How the INCLO program works
“It’s not just about investment… It’s about what the business is doing to grow it’s revenue, grow a really good team and grow partner channels"
3:09 - Investment crowdfunding a sales arm, marketing arm, or supply chain channel
Case study: BatteryXchange
5:06 - How Will knows a company is ready to accelerate growth
6:37 - Finding a community that resonates with your product is a must - do that before raising money
7:20 - How founders get started with the programs:
Runway, Launch, & Growth
8:54 - How local entrepreneurs helped build the INCOLO programs
10:40 - An alternative to the “Fundraise or bust” mentality
11:06 -The mistakes Will sees founders make going into the program
11:45 - Taking the vision of a founder and narrowing that down to what they need to do today.
12:04 - "Focus on your invest-ability… with an eye on exit-ablility "
14:33 - Is the lack of Investment crowdfunding raises in the SE an investor problem or a founder problem?
15:37 - Why Will started investing through Regulation Crowdfunding (Reg CF)
16:53 - The original idea of Vicinity
17:40 - Where the majority of investment comes from in crowdfunding campaigns
2:03 - Julie’s career progression from newspapers to AOL to SC Dept of commerce
5:13 - An overview of the Relentless Challenge grant program and who it supports
6:24 - The three goals of the grant
7:37 - Julie releasing the next round of funding
8:52 - The difference in programmatic grants & infrastructure or company funding
12:15 - Julie’s “Favorite” programs the grant has funded
16:11 - The value of treating incubators & accelerator as startups themselves
18:17 - How Julie and her program help make the grant application as accessible as possible
21:11 - What applicants should do if they’re stressed about completing the application in time
22:56 - Criteria Julie looks for in organizations that are applying
25:56 - How the same criteria for grants apply to companies seeking investors
26:16 - The importance of the team
28:18 - It’s ok if a project needs to change or pivot - as long as the end goal stays the same
29:27 - Tips for getting your organization grant ready
32:12 - Things Julie learned from AOL that she advises startups and organizations to follow now
36:18 - How everyday folks can get involved and foster innovation
Jennifer's website: https://www.sunshinemedianetwork.com/
Timestamps
1:58 - Jenn’s journey into entrepreneurship
13:25 - The key steps for helping small businesses tell their stories.
1st step - understand your "Who"
14:15 - Want to get good at telling people’s stories? be the “idiot” who asks the questions
16:36 - 2nd step - Have confidence
17:43 - 3rd step - Figure out the stereotypes you’re up against - people love to put you in categories
19:44 - Success from big projects & fortune 500 companies that small businesses owners can learn from
Lesson 1: It takes a long time to “turn the ship” with a big company. Sometimes small business are too quick to abandon an effort because it’s not working yet
21:57 - Lesson 2: you can’t do everything, don’t be afraid to outsource
23:41 - Mistakes small business make in the PR, media and Marketing strategies
25:45 - Why your “Why” isn’t enough - Finding your "Who"
27:50 - The impact that Jenn sees investment crowdfunding having as a former member of a small community where it was used (Albemarle, NC)
28:37 - What Jenn loves about local investing
29:41 - Small business need to lean into what they’re good at rather than try to be like big corporations
30:49 - Communities have a story - the businesses we support shape that story
33:55 Things Jenn has learned about local investing
-
Go deep instead of wide
-
Find out the who of the business owner
For this special episode, Josh and John join Terrell Turner on the Business Talk Library podcast. They dig into the founding ideas behind Vicinity and share their vision for local investing. They reveal that, surprisingly, the original idea for Vicinity came before they even knew about Regulation Crowdfunding or any of the existing portals. Instead, Vicinity was born from the desire to bring together the trends of new localism and democratized finance. Tune in to hear about the formation of Vicinity along with the lessons Josh and John have learned along the way.
Belladina's is currently hosting an offering on the Vicinity platform. You can find their campaign page here: https://marketplace.vicinitycapital.com/offers/PreviewOffers/MjE2OA==
4:33 - Start with a focal point - Joey & Potito’s creative process & approach for creating new restaurants.
5:38 - When Joey made the switch into restaurants full time.
6:16 - Marrying old school with new school & creating something new from established elements.
7:34 - Why Joey decided to sell the Greer location and open the Belladina’s restaurants.
9:15 - What Joey attributes the success of the Washington st location to and where his passion lies.
10:39 - Customers coming from all over.
11:30 - Seeing other restaurants have artwork done too.
12:58 - Why this location & concept?
17:15 - Where does Joey’s confidence in starting a new business come from?
18:15 - Joey’s plan for the future.
21:05 - Why Joey wanted to raise money from his community and how it’s impacted his connection to his customers.
Michael's Website with his books, workshops and other educational info: michaelhshuman.com
Find all of Michael's workshops, books and speaking/consulting information on his website: michaelhshuman.com
Timestamps:
5:06 - Myths about small businesses & local economics
6:17 - 2 examples/studies
7:08 - 60-80% of jobs are locally owned biz
7:21 - Local biz are competitive but our investments don't match up
8:10 - The capital market failure
8:24 - Why securities laws were passed and what the effect was for small business
9:35 - Why we are biased towards big corporations in ED
14:24 - The LOIS and TINA concept - local ownership and import substitution
17:52 - Local businesses are alot more competitive than we think.
18:06 - The movement of our economy from goods-centered to services-centered
19:51 - It doesn’t make sense to ship water
21:30 - The effects of local communities no longer being limited to natural resource businesses
So you invested locally and you might be thinking, "Now what?" This week the Vicinity crew gives a how-to guide for life after investing (through Vicinity.) We talk tax implications, subscription agreements, and transfer of funds. But our favorite part is your ability to help and influence your investment AFTER you make it. Unlike our inspiration for this episode, The Bachelor, "after the final close" opens up a whole new world of communication and relationships with the company you invested in. Tune in to hear the must-knows for navigating this new world.
Sign up for your own self directed IRA through our partner: Alto
Michael Shuman's website
Book: Put your money where your life is
The Vicinity team circles up to discuss recent happenings that underscore the uniqueness of local investing. John and Josh share their experience of meeting the community and being on-site with our launch into North Carolina. These conversations with local partners and investors reveal that the real stars of the show with crowdinvesting aren't technology and dollars but the people and relationships that form the community. Tune in to hear the stories and learn why locals are investing where they live.
The Vicinity team discusses need-to-know tax information for your investments in campaigns through Vicinity. While individual tax implications can vary widely, This short & sweet episode gives a high-level view of terms and forms to look out for when buying different types of investment crowdfunding securities. We also cover who should expect to receive tax information from and give a trivia question with a t-shirt prize for any listener who knows the answer! If you liked this style of episode, email Info@Vicinitycapital.com and let us know what topic we should cover next!
Please note this is not tax advice and you should consult your CPA or tax professional before making any tax-related decisions.
Jordan Jones with the Albemarle Hotel Development completed an offering on the Vicinity platform. You can find the campaign page here: https://marketplace.vicinitycapital.com/offers/PreviewOffers/NzQwNTk=
While the Wandering Bard Meadery may only be a few years old, true to its medieval origins, their mead making dates back much further. Adam Daughhetee tells their tale, dating back thirty years to when the first batch of mead was crafted by his Uncle Brian Daughhetee. Fast forward to today, Adam and Brian now own a growing meadery that produces fine meads and ciders, hundreds of gallons at a time. They offer 19 selections in their taproom, distribution across the state, and online sales across the country. Adam shares how mead is made, what has fueled their growth, and how he uses their taproom as a unique customer feedback tool. Enjoy this unique blend of historic royalty and modern fellowship.
Malcolm hosts a round table with Vicinity Co-Founders Josh Rollins and John Crawford to discuss the new Reg CF rules changes. We cover the four main changes that went live on Monday (3/15/21) and what they mean for investors as well as companies looking to raise capital. What exactly does it mean to "Test the waters"? How much can you invest? What do companies need to know if they're raising the new larger limit? We cover all this plus a light-duty conspiracy theory on about Reg CF...
commonhousealeworks.com
facebook.com/commonhousealeworks
instagram.com/commonhousealeworks/
untappd.com/commonhouse-aleworks
- 3:38 What drew Adam to beekeeping
- 7:47 Adam's start with his business
- 10:50 Business model for beekeeping
- 20:37 Insider tips and facts about bees
- 27:48 What keeps Adam up at night when it comes to beekeeping
- 35:50 Adam's content strategy
Foxhound Bee Company's Website
- 1:23 How Earl got started (early entrepreneurial ventures)
- 4:40 How Chase and Earl joined forces
- 5:38 Types of licensing needed for selling fireworks
- 7:38 Near-term vision for their business, building their fireworks empire
- 8:02 How the revenue model works with the extreme seasonal dependency of the fireworks industry
- 10:02 How they find places to set up their shop
- 11:58 Winning customers and establishing network relationships
- 15:40 Tapping into online sales and curbside pickup with preorders (changing the fireworks game)
- 21:40 How to shoot a good firework show :)
- 25:50 Outro/how to get in touch or find out more
Fleety's Fireworks Website
Kalee’s website: https://www.kaleebakerevents.com/
1:43 Kalee’s explanation of her business model
2:55 Going above and beyond, but still balancing client care with normal life
5:00 What Kalee tries to draw out of her guests and how she can help produce the right services for clients
9:43 Some of the tools that Kalee uses to make everything run smoothly
11:30 What it takes to be a wedding planner
12:34 Kalee’s day of the wedding strategy
15:10 Kalee's take on the future of the wedding industry
22:45 Kalee's advice for first-time wedding planners
4:52 An estimated 60 billion dollars in the upstate that is “squirreled” away in retirement accounts
5:41 How the 60 billion (and 45 billion for Birmingham) represent new dollars & the broader community
9:54 How to create avenues to invest in what you choose - owning and controlling your own dollars
14:17 Fostering behavior change to make long-term impact and diversify your portfolio
18:17 The future of finance is personal
25:49 Investments are never just about the financial return
30:16 Getting involved with impact investing on a local level
Thank you for the mic, Foxhound Bee Company.
- https://www.charlottebergerpr.com/who-we-are
- IG Handle: @charlottebergerchs
- https://www.tastemakerschs.com/
- IG Handle: @tastemakerschs
- Delphine’s LinkedIn: https://www.linkedin.com/in/delphinecarter/
- Boulo held an offering on the Vicinity platform. You can find the campaign page here: https://marketplace.vicinitycapital.com/offers/PreviewOffers/Mjg0MDE=
- Park Supply Company is Huntsville and North Alabama's premier supplier of plumbing products.
- Website: https://parksupplycompany.com/about/
- @parksupplyco
https://lumineuxchocolate.com/
Lumineux Chocolate held an offering on the Vicinity platform. You can find the campaign page here: https://marketplace.vicinitycapital.com/offers/PreviewOffers/NTMwNDg=
- Expanding a small biz
- How Joey got his start
- Growing a brand
- Quality, quality, quality!
- Belladina's held an offering on the Vicinity platform. You can find the offering page here: https://marketplace.vicinitycapital.com/offers/PreviewOffers/MjQ1NzA=
- Turning a hobby and passion into a profitable business
- Full-time freelance work
- Staying on-brand with photography
- Building relationships with clients
- Narrowing in on a niche
- Staying true to course (in terms of goals)
- App development shop talk
- How Greenville is the right community for Designli
- And more!
- proximity matters
- the relationship between investors and local businesses
- how investing local can benefit communities
- The importance of knowing where your investment dollars going
- How conventional wisdom shifts with innovation
- How bitcoin is revolutioniz—just kidding.
- Crowdfunding levels the playing field - find out how
- How diverting just a fraction of our investment to local businesses can drastically boost your local economy
- And much, much more!
- How Laurin got her start
- Humphries' strategy to developing customer relationships
- Providing a quality product and quality service
- Knowing how and when to grow
- Giving back to the community
- Real estate
- Fostering growth
- Revitalizing spaces
- Dealing with setbacks
- Chapel held an offering on the Vicinity platform. You can find the campaign page here: https://marketplace.vicinitycapital.com/offers/PreviewOffers/NDQzNzM=
- Crash's website link: https://crash.co/
- Isaac's personal website: https://isaacmorehouse.com/
- Isaac's entrepreneurial journey
- Hiring the right team and finding the best talent
- Managing remote workers
- Why the stigma that tech startups need to be in Silicon Valley is false
- How Crash is changing the game for job searchers
- Coffee is a community resource - elevated coffee quality elevates conversation quality
- Starting up despite adverse circumstances (new state, 30-year high commodity, etc)
- Creating a business that enhances your life
- Networking and marketing principals
Coastal Coffee Roasters
Brad’s LinkedIn
- 3100 offerings by 2600 companies
- 25 million - how much capital businesses raised through Reg CF in Aug of 2020
- Tapping into "sideline" capital
- growing sphere of Reg CF
- Innovative funding sources
- How Vicinity is hoping to monetize local pride and support
How would you feel about having a goal to start 50 businesses by 2050? Well, that’s exactly what our guest on the Invest Local podcast is trying to do. Stephen breaks down the systems and mindset he brings on a daily basis and how he thinks about goals, business, and family. He has helped start companies like: PlanWell Strategies, Betafy (podcast), OmniLicense, QuickerLeads, and several more.
- You can check out his Startup School Podcast wherever podcasts are found
- Website: https://www.stephenolmon.com/
- LinkedIn: https://www.linkedin.com/in/stephenolmon/
- Developing community around a product
- Customer acquisition
- Building a following and interacting with customers
- Identifying niche markets and tapping into them
- Putting practical advice into practice
- Growing a small business
- What it was like being a consultant
- How Deck Creations operates
- More!
- Misconceptions about investment crowdfunding
- How Vicinity is tapping into local networks
- The type of issuer who might benefit from Reg CF
- Laughter, jokes, and more!
- Finding gigs when the world is "shut down"
- Being a dad and full-time worker
- On making successful career
- Starting a business
- Entrepreneurial mindset
- Overcoming setbacks
- Translating skill sets
- Adding value to customers
Stephen Slappey gives us an insider scoop on the award-winning marketing firm, Creative Consulting, that he runs in Charleston, South Carolina with his Co-owner and Fiance, Meg Thompson. Hear what it's like to run a top-tier, full-service agency that takes a personal, hands-on approach to building their clients' brands. Check them out at: creativeconsulting.marketing
- Entrepreneurship - how to get an idea going!
- The importance of finding mentors
- How to build the right team
- Dealing with business setbacks
- Adapting to COVID-19
- Leaving a local footprint
- Choosing to work within a region or vicinity
- Chris' start in the world of business
- Creating Made South
- Dealing with setbacks and failures
- Leveraging stories and legacies for impact
- The importance of supporting local
- History of crowdfunding
- Why investing local is important
- What it means to invest in places near you
- Why we started Vicinity
- How Alex ended up in Greenville (His origin story)
- How he ended up with BlackStream
- Business growth
- Maintaining local footprint and presence balance with that growth
- How AJ started Sentio
- How and why he chose to relocate from NY to South Carolina
- Initial venture combining AI with psychological elements to improve draft picks
- Turning from startup to business
- Going from project to leader
- What he looks for in team members
- Passion trumps logic
In today's episode, we interview Patrick Russo, Managing Director of Vavia. Patrick talks about his journey and what brought him to his current venture in Birmingham, AL. From investment firms to fintech startups to entrepreneurship, tune in to this exciting local business story.
- How the praxis program takes you through an initial career discovery process
- Learning through experience and self-directed education are essentials to starting a strong career
- Cameron's rise to the CEO position
- Connecting what you're doing with what's best for the company
- Growth and trajectory of Praxis
- Scaling a team and service
(Some) Show Notes
- The swashbuckling beginnings of Vicinity's founders - regular guys with a love for business
- How Vicinity is helping supply businesses and entrepreneurs with lifeblood (financing) to achieve their dreams
- Losing money for investors is painful - how to bounce back
- The value of staying inbounds geographically (proximity matters!)
- The value of creating connections and partnerships to accomplish a goal
- The modern world is lonely and we need to put communities back together
- Teams ultimately determine success
- Communities are part of geographical teams
Tune in to hear how Daniel left warm Spain for frigid Milwaukee, before making his way south to the beautiful city of Greenville, SC. Daniel takes us through the inception of his catering business idea and how he made his dream a reality.