Snack Food & Wholesale Bakery
Steiner's Coffee Cake of New York releases new line of baked goods
Steiner's Coffee Cake of New York
Easy to Eat, Fun to Share
Glen Cove, NY
Food & Beverage
Steiner's Coffee Cake of New York serves delicious, gluten-free, ready-to-eat sweet baked goods to conventional and gluten-free consumers alike. We are a woman-owned, family-run business driven by three core pillars: relationships with our people, sustainability for our planet, and quality of our products.
$72,570
raised
42
Investors
$4M
Valuation
$1.00
Price per Share
$250.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
14
Days Left
Rewards
Get rewarded for investing more into Steiner's Coffee Cake of New York:
$250+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$500+
Investment
$500 | Tier 1
Receive a free Taster's Box + 10% discount for life.
$1,000+
Investment
$1,000 | Tier 2
Receive a free Taster's Box + 15% discount for life.
$2,500+
Investment
$2,500| Tier 3
Free quarterly Mini Bundle subscription for a year + 25% life-time discount + 5% bonus shares.
$5,000+
Investment
$5,000 | Tier 4
Free monthly Taster's Box for a year + 15% life-time discount + 10% bonus shares.
$10,000+
Investment
$10,000 | Tier 5
Free monthly Taster's Box for a year + 15% life-time discount + 15% bonus shares.
$25,000+
Investment
$25,000 | Tier 6
Free monthly Taster's Box for a year + 15% life-time discount + 20% bonus shares.
Reasons to Invest
- Growth Happening Now: The gluten-free food market is expected to grow significantly from $5.6 billion in 2020 to $8.3 billion by 2025, with baked goods as the largest sector of that market.
- Quality Products and Ingredients: Steiner’s proprietary gluten-free all-purpose flour and premium quality ingredients combine to create products with incredible taste and texture. You’d never know they were gluten-free!
- Continued Increase in Sales: Steiner’s has already scaled significantly. The production capacity has gone from 500 coffee cakes a week in 2018 to 14,000 coffee cakes per day in 2021, and they are ready for more.
Overview
We Developed a Revolutionary Gluten Free Flour Recipe
At Steiner's Coffee Cake of New York, we are not just another bakery. We want to ensure every person living with a gluten-free diet can eat real baked goods made with real recipes without fillers, extra sugar, or other strange ingredients to hide the terrible taste, texture and moisture profile.
We are a woman-owned, family company. Our founder Nancy Steiner was diagnosed with celiac thirty years ago but didn’t start baking her own gluten-free treats until she was 70. As soon as she perfected our proprietary gluten-free all-purpose flour, we knew we had to get it into the hands, mouths, and bellies of people everywhere.
People
We see our customers, suppliers, and the whole supply chain as part of the Steiner family. And yes, that includes potential investors!
Our top priority is ensuring every bite of every baked good is as delicious as possible both for our gluten-free and conventional customers. This attention to detail is why we have a 97% repeat order rate.
*This testimonial may not be representative of the experience of other customers and is not a guarantee of future performance or success.
Planet
Our sustainable packaging sets us apart in the bakery category. All our packaging is 100% compostable or recyclable, and we have a zero-waste policy when it comes to our production process.
Product
Our proprietary, all-purpose gluten-free flour is the secret behind our success. In addition, we only use the best ingredients, setting our flavor profile apart from the rest of the ready-to-eat baked goods category.
We strive to bring real, premium quality food to unexpected places. Why should convenience store consumers have to settle for less than the real deal?
Now, we are thrilled to invite investors to the table as we continue to expand our reach and offerings. Welcome to the Steiner family!
THE PROBLEM
Most Gluten-Free Baked Goods Taste...Well, Gluten-Free
With gluten-free food options gaining popularity, the need for quality GF baked goods is growing. However, too many options out there use inferior GF flour that skimps on quality ingredients and sacrifices taste and texture.
Unlike our competitors, we achieved our remarkably delicious taste and texture by only using the highest quality ingredients alongside our all-purpose flour blend.
Consumers who have celiac disease, who adhere to gluten-free diets, or who have no dietary restrictions whatsoever should all be able to enjoy clean label, premium quality, gluten-free baked goods that taste just as delicious as their gluten-filled counterparts – if not more so!
THE MARKET
A Fast-Growing Segment of a Major Market
The gluten-free food market is projected to expand significantly from $5.6 billion in 2020 to $8.3 billion by 2025. Bakery products make up the largest share of this market.
* Source
Meanwhile, the overall Sweet Baked Goods market is anticipated to continue to rise at a considerable rate over the next five years. This market is dominated by two parallel trends: health-consciousness and indulgence.
With gluten-free baked goods that taste delicious while also providing health benefits, our product is perfectly positioned to meet the evolving needs of this growing market.
THE Solution
Using Premium Ingredients for Gluten-Free Baked Goods with Exceptional Taste
At Steiner’s, we’ve taken the gluten out of sweet baked goods without sacrificing taste, texture or ingredients.
We developed our proprietary all-purpose gluten-free flour blend to appeal to conventional and gluten-free shoppers alike. We bake and freeze all of our products with the exception of the cookies to ensure maximum freshness upon consumption.
We Strive for Zero Waste
We believe in building a sustainable business that serves as a steward for a healthier planet and provides economic success internally and externally. Our sustainable packaging is made from 100% home compost-rated clear film, and we use recycled and recyclable boxes for all our products.
In addition, our baked goods have a 2 year frozen shelf life, virtually guaranteeing they won’t go to waste. Not only does this reduce food waste, it is the key to our profitability.
If we make it, we can sell it.
Accelerating Growth and Customer Enthusiasm
Since our launch, we have successfully scaled to mass production, moving our production capacity from 500 coffee cakes a week to 14,000 coffee cakes per day. Many of our independent grocery and restaurant clients have been on board for over three years.
As we emerge from the pandemic, we have seen a significant change in our sales velocity. We now have two private label accounts, presence in two grocery store chains.
A Combined Wholesale and DTC Approach
Our combined approach came out of the COVID-19 pandemic, which forced us to pivot from an exclusively wholesale model to direct to consumer sales to survive. Now, we use a combination of both to get our baked goods in the hands and mouths of as many consumers as possible.
Our wholesale model uses a combination of direct distribution by e-commerce distributors such as UNFI Easy Options, THE Good Trends, Mable or Tundra, broker-driven sales through National Foodie Brokers, and shipped via Fedex or through the required distributors. We are also currently onboard with HLA and Inter County Bakers.
Meanwhile, we also conduct direct to consumer sales via our site powered by Woo Commerce and on Amazon.
All our products are made in the USA. Our primary manufacturing facility is located in Brooklyn, NY, and our incubation and DTC fulfillment operations are located in Glen Cove, NY.
WHY INVEST
Changing the Standard for Gluten-Free Baking
The gluten-free consumer base is growing every day, with baked goods as the leading sector of the multi-billion dollar gluten-free food market.
Gluten-free consumers should not have to compromise on taste, texture, and ingredients when it comes to baked goods. That’s why we created the best-tasting fresh frozen sweet baked goods on the market.
Through our unique offerings, we see our brand becoming a household name in sweet baked goods and gluten-free food alike. Ultimately, our long-term objective is acquisition. In order to continue our short-term growth, we are preparing to launch our next SKU, to-die-for chocolate fudge brownies.
We invite you to join the Steiner family as a part of a company that prides itself on our delicious baked goods and being a productive part of the community at large. Join us today, and get in on a sweet deal.
In the Press
Spokininc
Insta Live with Steiner’s Q+A with President Jen Pool
Newsday
Meet Mother-Daughter Duo Behind this Gluten-free Coffee Cake
FoodBizLI Shark Tank
Top Spot at FoodBizLI Shark Tank
LocaLI Bred
On LocaLI Bred: Steiner’s Coffee Cake of New York
Newsday
How a Long Island Mother-Daughter Duo Founded Steiner’s
Marcum LLP, TD
Steiner’s Named 2018 Most Innovative Emerging Company
Long Island Weekly
Take A Fresh Look At Gluten-Free Treats
Offering Summary
Company | : | Steiner's Coffee Cake of New York, Inc. |
Corporate Address | : | 65 Sea Cliff Ave Suite 1A, Glen Cove, NY 11542 |
Offering Minimum | : | $10,000.00 |
Offering Maximum | : | $1,068,999.00 |
Minimum Investment Amount(per investor) | : | $250.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Non Voting Common Stock |
Minimum Number of Shares Offered | : | 10,000 |
Maximum Number of Shares Offered | : | 1,068,999 |
Price per Share | : | $1.00 |
Pre-Money Valuation | : | $4,000,000.00 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Company Perks*
Time-Based Perks
Friends and Family Early Birds
Invest within the first 48 hours and receive additional 20% bonus shares.
Super Early Bird Bonus
Invest within the first week and receive additional 15% bonus shares.
Early Bird Bonus
Invest within the first two weeks and receive an additional 10% bonus shares.
Amount-Based Perks
$500 | Tier 1
Receive a free Taster's Box + 10% discount for life.
$1,000 | Tier 2
Receive a free Taster's Box + 15% discount for life.
$2,500| Tier 3
Free quarterly Mini Bundle subscription for a year + 25% life-time discount + 5% bonus shares.
$5,000 | Tier 4
Free monthly Taster's Box for a year + 15% life-time discount + 10% bonus shares.
$10,000 | Tier 5
Free monthly Taster's Box for a year + 15% life-time discount + 15% bonus shares.
$25,000 | Tier 6
Free monthly Taster's Box for a year + 15% life-time discount + 20% bonus shares.
*All perks occur when the offering is completed. All perks are delivered to the continental United States via 2 day shipping service.
The 10% StartEngine Owners' Bonus
Steiner's Coffee Cake of New York, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. Owner's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of common stock at $1/ share, you will receive and own 110 shares for $100. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
Insider Investment Notice
Officers, directors, executives, and existing owners with a controlling stake in the company (or their immediate family members) may make investments in this offering. Any such investments will be included in the raised amount reflected on the campaign page.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Inter company debt or back payments.
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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$99,303.00
USD
$74,958.00
USD
Cash And Cash Equivalents
$2,135.00
USD
$775.00
USD
Accounts Receivable
$12,465.00
USD
$7,202.00
USD
Short Term Debt
$52,804.00
USD
$66,381.00
USD
Long Term Debt
$264,775.00
USD
$100,000.00
USD
Revenues And Sales
$112,953.00
USD
$96,042.00
USD
Costs Of Goods Sold
$89,349.00
USD
$57,513.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$126,853.00
USD
-$66,327.00
USD
Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Decreasing Our COGs & Increasing Our Sustainability
5 days agoWhen we hit our first raise DISBURSEMENT milestone of $250K (Steiner's has NOT, as of 8.9.22 taken a disbursement from the StartEngine REG CF raise) we will upgrade our packaging.
- Print on our compostable clear film for both the coffee cakes and chocolate fudge brownies
- Eliminate our single box
- Reengineer our inner pack/shipper/display box to be multipurpose and more effective on the shelf for both SKUs
The allocation for this strategic initiative is $100,000 of the first $250,000 disbursed. Check out our video explanation.
Making Coffee Cakes
14 days agoAt Steiner's our proof of concept process included being able to scale our recipe to full mass production. Our coffee cakes have a middle and top layer consisting of a delectable cinnamon/sugar mixture. Our self-imposed mandate was to preserve the layered profile in mass production. This is a signature component of our coffee cakes, this is how Grandpa Malcolm made them, this is how we STILL make them.
We found a way. With that mandate achieved we were able to move our production capacity from 500 coffee cakes a week to 14,000 coffee cakes PER 8 HOUR shift, all while reducing our COGs.
Sometimes you get it right - sometimes it's PERFECT.
Sales Metrics: Repeat Order Rate, Velocity, New Accounts
21 days agoAt Steiner's we are watching 3 core metrics to indicate the health of our sales.
- Repeat Order Rate - the first sale is easy, we want to see our clients come back - the 3rd and 4th order really tell us we're in.
- Velocity - the pace at which our product moves through any given location is in part, out of our control, some accounts will never increase their velocity however they will be steady - every location has its cap. This dynamic is different with distributors, order velocity is a key indicator of our successful adoption throughout their network.
- New Account Onboarding Pace - filling the top of the funnel with first time orders is critical to growth.
Of course, nothing says it better than a PO in hand. Currently our biggest distributor is the family of companies operating under the banner of National Convenience Distributors. On Friday we received our 3rd PO for a pallet of our Grab 'n Go Coffee Cakes. We have the repeat orders, now we need to increase the velocity and size of the orders. Once we have a marketing budget engaged we will be in a much better position to support this growth. At the moment we continue to be #mightyscrappy.
Our goal is a 4th PO in September for 3 pallets.
Steiner's receives another 5 star review on Amazon
24 days agoEven a B2B business depends on reviews to drive sales. At Steiner's we want to hear from our consumers.
#1 it is the best way to ensure we are delivering a quality product in every bite.
#2 it demonstrates to our B2B clients that we are making a product their clients will love. Our job is to elevate and enhance our clients menus.
This excerpt from a Terakeet article articulates just how valuable reviews are to a business and consumers.
- Online reviews help consumers make purchasing decisions.
- Customers are 63% more likely to trust brands with online reviews compared to brands with no reviews.
- A lack of reviews makes buyers feel increased risk, which makes them less likely to buy.
Note: This testimonial may not be representative of the experience of other customers and is not a guarantee of future performance or success.
Steiner's Pushes New A+ Content On Amazon
24 days agoWe launched our new A+ content today. We've partnered with Evolved Commerce to enhance our presence on Amazon. While our model is B2B, we do use Amazon to drive awareness and enhance our organic search results within the traditional search engines. We have a small spend within Amazon's campaign manager tool to help elevate the brand. You can see a glimpse of our keyword strategy in the campaign snapshot featured here.
Steiner's Approach to Coupons and Promotions
27 days agoOur DTC sales are driven through our web site, www.nycoffeecake.com and Amazon. In our DTC channels we use coupons/promotions as a way to upsell and cross-sell. This week's email coupon is $5 off an order of $35+. At this time we do NOT subsidize the cost of shipping.
Email drop: 7.19.22 - list count ~3,500.
Customer Feedback: Unsolicited Comment on LinkedIn - Gluten Free community looking for answers - we have them!
27 days agoLinkedIn Comment 7.14.22 - Unsolicited feedback from a customer the day they received their order.
Top Gluten Free Facts, Stats, and Trends (Editor’s Choice)
- Globally, around 1% of people have celiac disease.
- 18 million people in the US are sensitive to gluten.
- About 30% of Americans deliberately avoid gluten.
- Gluten-free dishes now appear on 26% of US restaurant menus.
- Gluten intolerance has around 200 potential symptoms.
- Between 1% and 13% of people have non-celiac gluten sensitivity.
- The global gluten-free food market is predicted to reach $8.3 billion by 2025.
- The gluten-free products market is likely to be worth $7.5 billion by 2027.
Note: This testimonial may not be representative of the experience of other customers and is not a guarantee of future performance or success.
3 Reasons To Invest in Steiner's
about 1 month ago- Millions of Americans eat sweet baked goods everyday. The market already exists, it is dominated by companies that are 200 years old. That does make those companies great, that makes them OLD.
- The American public is offered sweet baked goods filled with chemicals and imitation flavors. Just take a look at the items in your pantry. We want to serve people REAL baked goods with REAL ingredients.
- The Foodservice & restaurant sector struggles with gluten free baked goods. The current offerings available just don't taste good therefore conventional consumers won't buy them and establishments risk high waste percentages. We solve that problem. Our baked goods are as good if not better than any conventional baked good on the market.
Sales: Our Line Sheets
about 1 month ago
Whole Foods Here We Come
about 2 months agoWe are working hard to make our way into Whole Foods. We can do it. We are registered on the Whole Foods Buy Local portal.
Now we need them to pick us. Meet Frank - he was awesome.
88%
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