The Fortune Teller Bar
Hello. My name is Sam Coffey and I am a proprietor of The Fortune Teller Bar on Cherokee Street.
We have been credited with being the first business in a dilapidated neighborhood that has paved the way for dozens of new businesses from coffee shops to art galleries and yoga studios. We are now considered as THE arts and culture mecca of Saint Louis and draw from a large and diverse demographic.
We pride ourselves on offering our guests with an eclectic experience through live fortune tellers, craft cocktails and a thoughtful list of local and imported craft brews. Our kitchen offers stellar backyard style bbq along with everything pickled from carrots to eggs. We have become internationally recognized through media including Discovery Channels “Salvage City”, The Travel Channels “Underground BBQ Challenge” and have been written up in every local publication as well as Southern Living magazine, The Huffington Post and even MTV.
Our keen eye for providing our guests with a unique experience coupled with excellent service and whacky events causes our guests to organically advertise our business through their individual social networks. We also gain repeat customers through consistent service, products and hours. We believe that you must remain open 100% of the time that you say you’re open. This might seem like common sense to some, but we have seen far to many businesses miss out on countless customer engagements by simply not staying consistent.
This year marks my 20th anniversary in the hospitality industry and the last 4 years owning my own bar have been the best years of my life. In a short period of time we have become an institution that people drive to from over two hours away. We look forward to a long presence in our neighborhood and are excited to have you here with us!
This loan is special because:
More about this loan
We are pioneers in our neighborhood and hold one of the first liquor licenses in a 2 mile radius. We are located at 2635 Cherokee Street in what is now recognized as THE arts district of Saint Louis.
We provide a unique and eclectic experience for our guests through weird taxidermy, live fortune tellers, an interior completely fashioned from reclaimed materials and authentic historic charm. Our beverage menu features a large selection of locally sourced craft beers and sprits while our cocktail program features house made bitters, simple syrups and fresh squeezed juices. Our kitchen is also open seven days a week and is the only late night food source in a mile radius. We pride ourselves in no fuss backyard style bbq with house made sides, meat and cheese plates, pickled everything, and a selection of vegan and vegetarian rotating items.
Our loan is from a private group of investors and is interest free. The investment group invested in us because they believed they were also investing in the future of Saint Louis. We have gone almost four years without taking on any additional debt and are looking for a loan to simply help us have better cash flow. We currently pay cash or check for everything we buy as well as taxes, payroll and cost of goods sold. If we are granted a loan through KIVA we will use the funds to help us create positive cash flow which will help us navigate through down days.
We have excellent accounting, bookkeeping and tax oversight through two very amazing and affordable woman that have encouraged us to seek a company like KIVA to help us create positive cash flow. We are looking forward to hearing from you and are eager to answer any additional questions you might have.
What is the purpose of this loan?
We have run our business with no credit cards or institutional loan/debt since we opened. However this has caused us to run into some cash flow problems that could be solved with a pad to carry us through those times when our quarterly sales tax, federal employee withholding or payroll all hit at the same time.
This loan will allow us the freedom to stop fighting the bottom line and breath a little. Having $12k in the bank account feels great until everything all hits at once. We know the money will come in over the weekend, but will there be enough to cover it all? Cash flow is the pulse of healthy company and having just a small pad would totally change our lives for the better.
Years in operation: 3 years – 5 years