Millie’s Ice Cream raised $12,827 with Honeycomb Loyalty Bonds in just 1 month!
Beloved across Pittsburgh, Millie’s Homemade Ice Cream is revered for its super-premium, from-scratch ice cream. Millie’s Ice Cream can be found in its retail shops in Shadyside, Lawrenceville, Market Square, the University of Pittsburgh. You can also find Millie’s at local grocery stores, restaurants, and resorts in the tri-state region.
Millie's owners and husband-and-wife duo, Chad and Lauren Townsend built one of Pittsburgh's most beloved community pillars, serving as inspiration for small businesses everywhere.
When the mandatory shutdown was issued, Millie's was not at risk of closing, but they needed to close its shops right before the start of ice cream season. Chad and Lauren began searching for creative ways to continue engaging their customers and adapt to the new normal.
“We wanted to look beyond the ‘here and now’ and really think about what it would be like when we could be fully up and running,” Chad explains.
A solution worth melting for
At this time, Chad and Lauren found out about Honeycomb's innovative new product, Loyalty Bonds.
Having worked with Honeycomb before to successfully raise $49,700 for a vintage ice cream truck, which they have been using to make delivery orders during the shut-down, the couple decided to launch a Loyalty Bond campaign!
Honeycomb Loyalty Bonds allow local business customers to buy a Loyalty Bond today and earn 1.3x the value they purchase in the form of gift cards over the next two years, guaranteeing your customers to visit your shop. These gift cards are distributed in 4 installments every 6 months, giving Millie’s customers a tangible way to support their favorite ice cream shop. In return, Chad and Lauren have smoother cash flow compared to a one-time gift card and simultaneously gained community buzz!
“Plus, Loyalty Bonds are great because people really do like to support people and they doubly like it when there’s something in return. It sweetens the pot for both us and our customers,” Chad continues.
(The vintage Ice Cream truck that Millie's purchased with Honeycomb funds)
A special treat
Millie’s customers certainly got something in return for their purchase. In addition to offering 1.3x the value of their purchase in gift cards, Millie’s offered a myriad of rewards: the opportunity to create a featured flavor, an exclusive factory tour, or Millie’s apparel. However, there was one special reward that piqued the interest of many: free ice cream for life!
In just 30 days, Millie’s raised $12,827 from 59 loyal fans.
2 scoops in one
Chad explains that these Loyalty Bonds will serve as a “great upfront flush to keep a consistent movement of funds going in and out. We’re now able to make a continual flow as the business operates and grows.”
Aside from access to debt-free capital, Chad points out that working with Honeycomb serves a greater purpose for Millie’s.
“There’s a really strong community component to Honeycomb Loyalty Bonds and Honeycomb Crowdfunded Loans. Honeycomb has done a terrific job at creating a larger community by connecting a wide variety of businesses together, growing our reach and internal network,” he adds.
“Ultimately, this was an incredibly smooth process just like the Honeycomb Crowdfunding campaign was. The Loyalty Bonds felt ready-made; there was not a lot of work involved for us, we just turned it on and pressed go. We’re looking forward to doing more campaigns with Honeycomb,” Chad shares.
The inside scoop
Help smooth out a bit of the world’s current uncertainty as well as your cash flow with a Loyalty Bond campaign. Loyalty Bonds are an exciting way to guarantee that your fans will come to your business to shop for the next two years and simultaneously obtain debt-free capital that could make a difference in your business’s future. Plus, did we mention the access to marketing advice from our team of small business experts?!
Interested in joining our Loyalty Bonds marketplace? Schedule a quick 15-minute consultation with our team of small business experts today
Honeycomb Loyalty Bonds are gift-card products offered through Honeycomb SMB, LLC and are not a financial security