Life, Low-waste Living, Plastic-Free Living

Bronx Eco-Space Update

Hard to believe it’s been a month since I announced my goal of opening an eco-space in the Bronx. I thought I’d share some updates on the progress.

  1. Business Plan:
    • I started writing the company business plan and finished the description section which you can read pieces of it on the official Bronx Eco-Space page.
    • I’m presently working on the financial costs for Phase I so that I can complete that Phase I financial projections. I’m hoping that Phase I doesn’t cost anymore than $5k with the bulk of that being the business filing (see below), pop-up location fees, and initial wholesale supplies. I’d like to do crowdfunding/investment opportunities for Phase II for I know that will have major expenses.
  2. Interest Survey:
    • I created an interest survey and so far 35 people have completed it. I need to get more folks to complete so I get a better perspective of where the location should be.
    • Majority of the survey participants said they would visit a pop-up location so I am going to figure out what pop-up options I can pursue. There is a major event that takes vendor applications which I applied. I’m going to see if there are some places open to me renting their space or setting up a table. I’d like to have my first pop-up late September/early October.
    • People also provided insight on the initial sustainable products to purchase which seem to be cleaning or self-care related.
  3. Business Filing: After tons of discussions with other business owners and a legal associate, I’ve decided the type of business – Social Enterprise LLC. It isn’t cheap to be an LLC in the state of New York because you have to do a month+ long advertising campaign within 90 days of becoming a company. The campaign costs $1500+ — cost more when live in the Big Apple. I can’t have pop-ups or have product without filing for you need a resell license to get product. Y’all this is why it took so long to determine business type.

So my goals for this month are to

  1. Complete the market analysis and financial projections for Phase I of the business plan. Those are the only areas needed for this Phase…the true heart of the business plan is Phase 2 which will take some additional research and writing.
  2. Get a logo for the company. I have had an ordeal of a time getting someone to do the logo. Ironically, my minor in college was art so I could totally do it BUT I’d rather focus my energy on the plan and research components. Hoping my recent inquiries pan out for I will need the logo to do pop-ups.
  3. Try and file for the business by no later than early September.

I totally appreciate the donations people have made towards this endeavor. If you haven’t seen I’m hosting a donation campaign for the month of August as a way to celebrate my birth month. I created a donor page and have started listing those that have agreed to on the page. All donations can be made via my Ko-Fi page (or you can contact me for other options).

Birth month  donation campaign for Bronx eco-space

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