Hello Toward Wellth supporters. Today is less of a post for you, and more of a post to give an update on the progress of Toward Wellth’s physical space and planning activities.
Sometimes AI makes good pictures… sometimes it makes interesting pictures… sometimes it makes nonsensical pictures.
Physical Space Update
Throughout the spring I had been keeping an eye out for any new properties that came available uptown Mt. Lebanon, and only toured one space that didn’t end up being an ideal fit. There is just no inventory that matches my requirements in the uptown area.
Over the last month I have [reluctantly] expanded my radius of searching and still have not found any spaces that seem to be a good fit. So I met this Monday with a commercial real estate broker to hopefully have them pound the pavement of their connections to perhaps unearth some property that might work. I am still looking within Mt. Lebanon as a strong driver for the design is to also be a walkable destination for area teens.
Business Plan Update
The last month has not seen much update to the business plan itself, although in the coming week it will be dusted off as I’ve reached out to some business bankers and their first questions were “can you send over the business plan?”. This is where I need to collate some of the materials that I have in a bunch of different places that all make up a business plan… so it shouldn’t take too much time once I sit down to do it.
I have completed an initial product listing (all coffees, teas, mocktails, boba [?], soda, sparkling) and built a pricing model that can be dynamically updated.
I have a moderately detailed value proposition and corresponding marketing plan.
I have performed initial research into grant funding opportunities that might underwrite the cost of wellness programming so that either free or heavily subsidized classes can be offered — so that programming is available to all irrespective of current financial situation.
I have prepared a cursory outline for a second phase of TowardWellth that publishes out free content digitally in classes. This content will either be pre-recorded copies of the session materials or live/archived copies of any programming that is provided in the public space of Toward Wellth (the common area with open seating).
These “Wellth Talks” would be on general interest topics such as financial tips, health and mental health related presentations, diet, sleep, exercise, etc.
If you have a line on a very wealthy person that would want to be a philanthropist and underwrite some of the startup costs, send them my way! If you have ideas for other sponsors, send them my way!
Partners Update
I continue to meet with and discuss the space with all varying types of partners and potential staff members. This has been a very rewarding process to network and see what talent exists in our community. I have been most grateful for the many referrals to friends-of-friends that have turned out to be good conversations. In these discussions there are at least 3 therapists/therapist groups who have expressed partnership interest, 3 yoga instructors, 3 life/wellness coaches, 3 potential general managers, 2 sustainability experts, 1 sustainable construction materials supplier, 1 NA beverage ambassador, 1 cooking instructor, and 1 reiki practitioner. I also met the wonderful cofounders of the local Teetotal Initiative, which is a local non-profit that hosts pop up alcohol-free events around Pittsburgh.
What still is left to do:
Collate the Business Plan details to prepare for the banking relationship necessary to launch this space.
Identify additional partners in the key areas intended for wellness and social programming — some of the types of professions yet to be contacted/identified include: dieticians, organizing coaches, karaoke dj’s, trivia hosts, mindfulness teachers/instructors, baristas, mocktail mixologists, pediatric therapists, and other persons (lay and professional) who can help to improve the agency of patrons.
Find a space and then retrofit the design to the space available - assuming 3,000-4,500 sq ft as the space needed to execute on the design without compromising having adequate space for both common area socialization and semi-private group rooms.
Researching and establishing relationships with resellers who provide wholesale recurring materials (inert gasses, tea, coffee, fruits, canned/bottled beverages)
Research required basic business operations contractors - i.e. accountant, legal counsel for forming the LLC and/or 501(c)(3).
Put more of this documentation onto the Substack so that others can replicate their own “third place” model and borrow components that may help their community grow. I view this project as very much an “open source” for others to replicate or modify to improve the social wellness of their communities. If you are not from Pittsburgh and following this Substack - thank you so much for your support.
I view this project as very much an “open source” for others to replicate or modify to improve the social wellness of their communities.
Please take what you learn back to your families, friends, and community - Train it Forward.
If you have connections to any of the types of persons mentioned above (i.e. mindfulness instructors, dieticians, etc) please refer them to me at ed@towardwellth.com.