2021 Richards Maple Products Retail Store & Warehouse Expansion
With private and crowd funding becoming more popular, this is the avenue we decided to go with to expand. We felt it would be more exciting to have our community help us grow.
Background: Richards began in 1910 with Will & Rena Richards. Offerings of pure maple syrup and granulated maple sugar were their only products early on. We have been blessed to remain in business continuously since then, developing a number of value-added maple products over the years; barbeque sauces, meat rubs, dressings, and confections just to name a few.
In December of 2018, Jen, Fred & Matt, the 4th generation followed their instincts and passion for the business and bought Richards from 3rd generation Debbie and Dave. Since then, we have exploded with the number of maple products produced on site … over 160 from scratch! We are at the point where we have outgrown our current facility. Our shoppe is only 400 square feet, so we’ve had to turn down opportunities to host groups and bus tours because of our size limits.
Richards Maple Products is seeking individuals that would be interested in investing in our business. We wish to continue to support the local maple community and beyond with the next phase of the family business by expanding nationally with products and the building of a new retail store. This will in turn consume more local maple syrup and ingredients from farmers in Ohio, which we will continue to pay more than the national market. We believe with the addition of a larger store we will have the ability to offer customers more Ohio made products they love, and local meats, which are healthier and better tasting than big box alternatives.
We have been planning for several years on expanding, as we have outgrown our current facility. The retail store will be filled with Ohio made goods, a deli, cheese counters and modern meat cutting facility. Emphasis on the meat cutting will be primary as the need for processing slots have gone from 6-month appointments to 1 ½ years throughout Ohio. The demand for direct from the butcher meat has caused this time delay in processing. Customers realize the health benefits of buying meat that has been raised naturally without steroids and enhancements. Also, as we expand our line of sauces, rubs, and condiments made with Maple, it complements the meat and deli perfectly. Drawings and talks with the city are in place to build a 4000 sq ft retail store and a 6500 sq ft warehouse attached to the west side of the current store. The warehouse will store empty containers, raw & finished product as well as add 2 shipping docks.
The global market has shifted from a population that primarily eats out to one that stays home and cooks their own meals. This coupled with the recent pandemic has led to customers panic buying in bulk quantities. The lasting impression of empty store shelves at major grocery stores has also shifted people into buying freezer meats in larger quantities and shopping locally.
Our vision is to have the store become a destination for bus tours and driving tours. This new construction would allow for more people in the store and a larger parking lot to accommodate more vehicles and buses.
We have tried this in the past and demand was there for these types of events.
We plan to raise up to $1.5 million dollars to complete this project. Loans will be paid back up to a 10 year term at 7% interest. Minimum investment will be $1000.00 per person. You will be issued a 1099 form yearly. First 12 months interest only, paid quarterly, as the facility is being built, thereafter amortization of interest and principal will be dispensed. Interest will accrue monthly and payments will be quarterly. We have the option to pay off early with no penalty. Deadline for commitment will be March 31, 2021. Contributions can be made April 1, 2021 until July 31, 2021 (with extensions possible).
Thank you for your consideration and time with the dream of growing our business. With your confidence and support we can make this dream become a reality. We are excited to be able to share this investment opportunity with you!
Contact can be made through Email or call
Jen: 440 487-1660 Jen@richardsmapleproducts.com
Fred: 330 206-1606 Fred@richardsmapleproducts.com
Matt: 440 666-5308 Matt@richardsmapleproducts.com
Richards Maple Products
545 Water St.
Chardon, OH 44024