SEATTLE, Oct. 21, 2021 /PRNewswire/ — Blendily has launched a crowdfunding campaign to help support the build-out of their second botanic kitchen in Seattle, Washington.
The company opened its flagship location in Portland, Oregon in November 2018. Despite the immense challenges presented by COVID-19, the Portland store has been able to weather the storm. Multiple locations for Blendily was always part of Founder Ivy Chuang’s vision. Several factors contributed to her decision to take on the additional risk of expansion to Seattle.
"I’m a staunch believer that people need beautiful places to go to, communities need destinations for gathering & inspiration, and the soul of neighborhoods is in the spirit of the businesses they host." says Blendily Founder Ivy Chuang.
First, platforms such as Mainvest are relatively new, and they enable crowdfunding for cash flow in a way that was previously impossible for mom-and-pop shops. Mainvest allows a business to issue a revenue-share note to investors with a set repayment timeline. The amount of investment is as low as $100.
Secondly, Ivy had been on several scouting trips to Seattle over the preceding 2-year period and noted that commercial vacancies multiplied as businesses lost footing due to COVID-19. She believed she had a good chance to secure a high-traffic location with good lease terms while many businesses remained hesitant to put investment into brick-and-mortar operations.
Blendily has secured a lease in the historic Ballard building located at 2206 NW Market Ave. Seattle, WA 98107 and will be operating a Holiday pop-up store through the end of the year. The Mainvest campaign will be open to investors through Dec 10, 2021.
The Blendily Mainvest campaign is accessible here: https://mainvest.com/b/blendily-seattle
Blendily plans to pay investors with a 1.3X multiple, sharing a percentage or revenue until $130 is paid on every $100 invested before the payback time limit. Meanwhile, the average savings account rate in the United States is currently 0.06%. Over a 5-year period, $100 left in a savings account would return just 30 cents. It is clear that there is an economic advantage to investing on Mainvest, however since it is an unsecured investment, there is inherent risk.
About Blendily: Blendily operates botanic kitchens where bioregional medicinal plants are blended with exotic botanicals to create a spectrum of cosmetic grooming products for selfcare head-to-toe. Blendily’s botanic kitchens operate just like ‘farm-to-table’ restaurants, taking inspiration from the surrounding landscapes and seasonal offerings. Blendily offers a full range of skincare, bath & bodycare, hair care, mama & baby care, and herbal remedies.
About Mainvest: Mainvest is a platform for building communities and the American Dream. At Mainvest, people can directly invest in businesses they want to see in their own neighborhoods, generating both potential ROI (return on investment) and ROC (return on community).