Audrey Finocchiaro and Sam Lancaster launched The Nitro Cart in 2016, a small-scale business model selling nitrogen-infused cold brew coffee from a handcrafted cart. The initial financing was backed by Finocchiaro’s credit card limit, a modest $1,500.
Their unique product offering coupled with their commitment to supporting local brands, catapulted them to popularity among coffee lovers. Success led to expansion in 2018, which included the creation of a second cart and the opening of a permanent café.
Though growth posed its challenges, their ability to preserve the authentic feel and customer-centric approach kept them afloat. Today, The Nitro Cart represents a well-loved cornerstone in the local community.
The humbling beginning faced persistent financial hurdles, necessitating their active participation in all possible local events resulting in a gradual improvement in their financial standing.
Path to success: Nitro Cart’s humble beginnings
A significant turning point occurred when they gained access to Brown University’s retail environment, accelerating brand visibility and expanding their customer base.
Partnerships with local restaurants enabled their cold brew’s feature on tap, widening their marketplace. The consolidated local presence and partnerships paved ways for several growth trajectories, fortifying their business presence.
The venture later rebranded to The Nitro Bar has witnessed remarkable expansion with a recorded $4.5 million worth annual sales, three physical locations, a mobile site, 50 employees, and product availability across over 50 locations in both Rhode Island and Massachusetts.
A notable element leading to their expansion was securing a $100,000 loan at 10% interest from venture capitalists in 2017. This enabled an aggressive growth plan and affirmed their business viability. Strategic loan management and planning resulted in significant creditworthiness and valuable investor relationship.
Despite their remarkable successes, Finocchiaro and Lancaster, now a married couple, relentlessly work seven days a week. Their unwavering dedication since 2019 keeps The Nitro bar on a steady growth path and sustainable profitability model.
