Couple grew their basement side hustle into a business bringing in $4.5M/year: We'd 'never seen anything like that in a bank account'

After months of bringing in less than $100 a day, Audrey Finocchiaro and her then-boyfriend Sam Lancaster were close to walking away from their coffee cart.

A gaggle of college students changed their mind that fall, when Lancaster took the cart to Brown University. The cart sold out for the first time, bringing in $400 in sales in just 30 minutes, Finocchiaro says.To survive the winter, they partnered with local restaurants to install their nitro cold brew on tap.

Here's how they built The Nitro Bar, from 80-hour workweeks to some TikTok virality and a lot of luck.Finocchiaro grew up frugal, and believed the cart would only last for one summer, she says. She and Lancaster didn't fully realize they'd created a business model with scalable potential until the spring of 2017, when they were approached by a pair of venture capital investors who tried their cold brew at a farmers market and liked it.

The investors retained a right to convert the loan into into a 10% equity investment in The Nitro Bar, says Finocchiaro.

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Couple grew their basement side hustle into a business bringing in $4.5M/year: We'd ‘never seen anything like that in a bank account'Audrey Finocchiaro and Sam Lancaster nearly gave up on The Nitro Bar. Now, their coffee business brings in $4.5 million a year across Rhode Island and…
Fonte: NBCLA - 🏆 319. / 59 Consulte Mais informação »