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Montana

Thyme Management

About Documents
108%
$26,900 Funded
$25,000 Target
Closed Time Left
28 Investors
$25,000 Min. Raise
$75,000 Max. Raise
60 mo. Term Length
10.0% Interest Rate
Closed

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Overview

Thyme Management offers prepared, healthy meals for delivery twice weekly. We are currently expanding to a retail location where clients will be able to purchase grab 'n go meals at our location or heat and eat their meals in-house.

We offer meals in individual and family-style options. Clients can choose from Nutritionally Balanced Meals, Whole 30 options, Plant-Based and Keto options. We offer nutrition coaching through Denise Zimmer, a networking partner. We do not require subscriptions, minimum orders, etc. We allow our customers to decide where we fit.

Due to our flexibility, we have approximately a 75-80% conversion rate with our customer inquiries. Our clients, being offered the flexibility to be vacationing and hold orders for the time away, allows us a higher percentage of retaining clients.

Since everyone eats we are fortunate to have a large audience to service. Our main client base is young professional families and single professionals who are busy and always on the go.

Thyme always delivers fresh – never frozen – and uses as many local vendors and farmers as possible to create our weekly rotating menus.

Our new retail location will also allow local entrepreneurs the opportunity to sell their product in our location and rent space on a sublease to operate businesses such as smoothie bars or coffee shops.

We are raising $75,000, paid over a 6-month interest-only period and a 54-month fully-amortizing period at a 10.00% interest rate.

 

We source from as many local vendors and farmers as possible.

 

The Project

Equipment $20,000
Rebranding $10,000
Working Capital $25,000
Materials $10,000

The funds will purchase the equipment for our new cafe and market, support additional payroll to operate and provide operating capital for rent expense and funding purchase orders as we begin to build the new location and clientele. We have also hired Luckybomb, a marketing company, to help rebrand the company, build a better website with an online store, and help us develop a marketing strategy for the expansion and moving forward. Funds would also help cover this expense.

We have had a large request for grab 'n go meals instead of weekly ordering: a place where a client can pop by on the run and grab a healthy family-style meal to warm at home instead of ordering take out. We have decided to make it an experience when you come inside – not just a store – by adding a cafe-like area where you can heat and eat your meal on-site. You can enjoy the other vendor items such as smoothies, coffee, additional snacks by Thyme, and shop in a small market area of local entrepreneurial vendors. These vendors include organic dog treats, local produce, local hot sauce, oil and vinegar, local pastries, fermented vegetables, kombucha, and more.

This new location has an alley door that backs up to our commercial kitchen alley door for easy preparing and transferring of goods to the retail outlet. We will have the opportunity to expose Thyme Out Cafe to all the local farmers' market-goers from May through October and participate more fully in all the downtown activities Missoula offers. This second location should help us double sales, increase exposure and give us the opportunity to interact with our client base face to face to develop those lasting relationships that help solidify a business.

In addition, we will be hosting events and have live music on First Fridays along with mocktails and yummy snacks for Happy Hour a couple days weekly. We will also offer private catering for meetings and small gatherings.

Offering additional job opportunities to the community is such a rewarding feeling. The ability to network and support other local businesses through the expansion of Thyme has been incredible.
 

Opening a retail outlet will make our meals more accessible to our community.

Business

History

Thyme Management was born from my business PhyZique Fitness, which I operated for approximately 17 years. After a very difficult divorce and custody case that lasted over a decade, I needed a breath of fresh air and a new challenge. Looking into how I could still help people in the health and fitness industry, this business became an easy option. Seeing how past clients' biggest failure was consistent healthy nutrition, it only made sense to provide an option. Because I was grounded in the industry with an amazing client base, it was an easy transition to still provide healthy meal options to fill the gap, and develop a business that could grow beyond the fact that I only had so many hours a day to train clients. Putting professionals in place in the culinary world to help Thyme find success, allows the sky to be the limit in how we can continue to support and help our community and allow Thyme to grow to its potential.

 

As a personal trainer, it became evident what clients needed most was nutrition.
 

Future

Project 1: Open the Cafe and Market

Project 2: Expand to the Kalispell area in 2022

Our Missoula kitchen will act as a hub for meal prep and we will transport meals to additional cities for delivery. Once we develop a solid client base in Kalispell, we will look at acquiring either a retail outlet or a commercial kitchen/retail outlet space and duplicate our Missoula plan.

Kalispell is our first, then we will work towards Helena, Bozeman and have had requests in Idaho and Washington. Due to my years in fitness, we have many business associates, gyms, and trainers that would love to utilize our business as a means for their clients to aid in success.

 

Once we open the kitchen, we'll be positioned to expand into other parts of Montana as well as Idaho and Washington.
 

About the Owner

Kim Agnew

I have been a successful entrepreneur in the health and fitness industry since 2000 earning many Best of Missoula Personal Trainer awards. I took a slice of what I learned from my 20+ years of experience working hand in hand with individuals to reach personal health and fitness goals and focused on the most important piece. The piece where the majority of my clients struggled and failed...nutrition. Thyme Management was born to provide an avenue for healthy nutrition with convenience and ease.

I grew up a competitive gymnast and my competitive spirit evolved into competing as a professional athlete in the bodybuilding and fitness world. I had great success in both sports and learned very well, the true meaning of dedication, focus, and striving to reach goals and be a team member and leader. It has been a great asset in developing and riding the wave of becoming an entrepreneur. I have a great team of mentors, friends, and family that are 100% supportive and helpful in attaining business goals and setting new goals. With Thyme, I believe deeply in giving back to the community that allows our success. I was born and raised in Missoula, have raised my four children in Missoula, and am fortunate to have my two granddaughters (third on the way) here in Missoula also. My parents are both Montana natives also and we all enjoy the diversity that Missoula offers. Thyme enjoys being part of such a wonderfully supportive community and we enjoy networking with local businesses, growers, and vendors to keep it local and keep our community strong.

 

Thanks for checking us out!
 

Deal Summary

Deal Summary

 Issuer

 Thyme Management LLC

 Doing Business As

 Thyme Management LLC

 Security Type

 Secured Loan

 Loan Purpose

 Equipment & Rebranding

 Offering Amount

 $25,000 - $75,000

 Interest Rate

 10.00% annually

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 6 months interest only + 54 months fully amortizing 

 Personal Guaranty  

 Kimberly Agnew

 Security Interest

 Second lien in the assets of the business, subordinate to SBA lien 

 Offered Portal 

 Honeycomb Portal LLC

 Offering Type

 Reg CF

 

Your Earnings Potential

If you choose to invest, you will make a one-time investment via ACH that will be transferred to a secure escrow account. If the campaign successfully reaches its target, the funds will be distributed to Thyme Management LLC.

For more information on the mechanics of Honeycomb’s crowd investing platform, please review our Education Materials

 Investment Amount   One-Time Fee 

 Potential Quarterly

 Return: Interest-Only Period* 

 Potential Quarterly

 Return: Amortization Period* 

 Potential Total Repayment* 
 $100  $2.85   $2.50   $6.92   $129.59
 $500  $14.25   $12.50   $34.61   $647.95
 $1,000  $28.50   $25.00   $69.22   $1,295.91
 $5,000  $37.25   $125.00   $346.09   $6,479.55

Your ongoing responsibilities from investing are very limited. Over the life of the loan, you will receive a yearly 1099-INT, which is a simple tax document similar to what you receive for most savings accounts.*Individual payments may vary slightly based on rounding. Potential repayments include principal and interest; they do not include the one-time fee which is assessed when you make your investment. These amounts are calculated as a hybrid interest-only + amortizing loan, which means that there is a specified interest-only period followed by an amortization period. There are no prepayment penalties and Thyme Management LLC may pay down their loan early, which may impact your earnings potential. Please note: returns are not guaranteed and investors could lose some or all of their investment.

Thyme Management LLC pays as agreed. You will receive quarterly payments directly into your bank account. In the event of a default, you will be contacted by the administrative agent to manage the collections process on the investors' behalf.

How Honeycomb is Compensated

Honeycomb charges Thyme Management LLC a $250 posting fee and a 7.0%-8.0% loan origination fee on the total amount funded.

Additionally, to cover expenses associated with each investment, Honeycomb charges a 2.85% investment fee capped at $37.25 per investor.

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View our
Offering Documents

Comments

Q & A

+ How do you enter amount you want to invest in this damn progra.

Hi Augie, I believe Becca reached out to you, please let me know if there is anything else I can answer for you...sorry for the difficulty and thank you for your interest in investing in Thyme! I appreciate you!

+ I am interesting in Thyme Management in Missoula MT. What is the additional $27,774 in ST & LT Debt payable is (credit card, etc) and what is the rate? Only $77,000 shows in the debt schedule. And why are operating expenses in 2021 only $686/mo?

Hi Sue, Thank you for your interest in investing! At the time of submittal of our balance sheet it was mid month and numbers are not all completely logged for EOM at the time of submittal to Honeycomb. I would be happy to put you in touch with my accountant: Harrison Harvey to give you any updated information on Thyme for 2021. Just let me know. We are restructuring the company to accommodate Thyme Out Cafe & Local Market so have been working closely together as of late and I know he would be happy to answer any questions I have not answered here. We run an average of Operating Expense of $10,000 monthly. Our budgeted Operating Expenses for 2021 are $10,000 The additional ST debt is a short term loan through Square (our credit card processor) as a bridge loan until we acquire LT financing for the Cafe, so we can keep expenses of the delivery location and the cafe build out expenses separate. It is paid back by a percentage of CC and Debit Sales daily as we transact our client sales. These are paid off very rapidly. (3 months typcially. The interest is a flat 11% of the loan value) It also includes a vehicle loan through Ally Investment. We are currently ahead of schedule on our budgeted revenue for 2021, with current revenue being $74, 632.00 and budgeted revenue $69,000.00. With our new Head Chef, we are seeing a decrease in our COG also. I hope this answers your question. Thanks again Sue and please let me know if there is anything in addition I can provide. Kimberly-Owner

+ To invest??? 100.00 or more???

Hi Sylvia! This is such a cool investing platform. Your minimum investment is just $100.00 to help Thyme with their new project. You are paid back with interest so it is a win - win for both of us! Check out the campaign page it explains how the investment works and how you are paid back. It has been such a fun experience so far interacting with investors and potential investors and sharing the excitement of our new space. Thanks for your question and would love to make you proud as an investor! Kim