Looking to raise equity, the owners of Home Town Farms have announced details about their crowdfunding campaign for $1.575 million on AgFunder. The company is leading the way in bringing retail farming to California. According to its campaign page, Home Town Farms is a vertically integrated food growing and retailing system for suburban and city markets.
The company’s model combines proven and profitable vertical growing technologies with a restructured supply chain that eliminates the “middle-man” and transportation to capture high margins while drastically reducing the resources needed to grow and sell organic produce.
Home Town Farms CEO Dan Gibbs stated, “We’re all consumers. How often do you stand there wondering, is it really what they say it is? You just don’t know anymore. Here are Home Town Farms, you get to see it, it’s there. Great nutrition is no longer just for the elite.”
Also noting the realities of a broken system regarding nutrition and renewable energy fields, Mr. Gibbs states, “During a 3 year process, I started to see problems of what was going on. The whole system is just broken. Currently in America, the people who need the most nutritious food are the ones that cannot afford it. We can talk about improving the health of our country but until nutritious fresh product is offered at prices that most everyone can afford, it will only be talk.”
Mr. Gibbs and COO Michael Castro founded home Town Farms about five years ago. Not only does he have 30 years of experience in greenhouse vertical growing systems in both conventional and organic farms, Mr. Castro also has extensive ag experience in the U.S., Mexico, South America, and the Dominican Republic
Unlike other companies, Home Town Farms offers low cost high quality foods along with benefits for both the community and environment. Mr. Gibbs said, “Out of every dollar you spend on produce, approximately twelve cents goes to the farmer. About fifty-eight cent goes to all the people between the farmer and the retailer, and the last thirty cents go to the retailer. But because we’re distributing in a 10-mile radius, we’ve calculated that with our delivery truck, gas and delivery person, we can deliver for about 10 cents a pound. We’re drastically cutting into that inefficiency and is part of the reason why we can offer lower prices.”
The use of all the funds will go towards land preparation; greenhouse construction; site construction including retail store; retail store and office equipment; operation cash; cash cushion.
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