Audrey Finocchiaro and her then-boyfriend Sam Lancaster started their coffee cart business, The Nitro Cart, in 2016. After months of struggling to make more than $100 a day, they were considering walking away. However, a successful event at Brown University in the fall changed their minds, and they began building a reputation on campus. To survive the winter, they partnered with local restaurants to install their nitro cold brew on tap. The business, now called The Nitro Bar, has grown significantly, bringing in $4.5 million in sales over the past year with 50 employees at three brick-and-mortar coffee shops and a smaller coffee trailer.
The turning point for The Nitro Bar came in 2017 when a pair of venture capital investors approached Finocchiaro and Lancaster with an offer of a $100,000 loan at a 10% interest rate. They saw the potential for scalability in the business model and believed in its growth. The loan provided a financial cushion for the co-founders, allowing them to focus on turning their cart into a successful brick-and-mortar coffee business. The investors retained the option to convert the loan into a 10% equity investment in The Nitro Bar.
With the financial backing, Finocchiaro and Lancaster were able to dedicate themselves to the business, working long hours to build and expand The Nitro Bar. They faced cash flow challenges in the early days, but the loan provided stability as they navigated the highs and lows of running a small business. Today, their days start early at 5:30 a.m. as they oversee their shops and plan for the week ahead. Finding a balance between work and personal life has been crucial for the co-founders as they strive for long-term success.
The Nitro Bar’s success on social media, particularly on TikTok, has played a significant role in its growth. With over 220,000 followers, the account showcases aesthetic coffee clips and engaging content that resonates with customers. Finocchiaro attributes the brand’s popularity to the “Ben & Jerry’s effect,” where customers feel a personal connection to the brand. Sales have increased by 60% since gaining traction on TikTok, showing the power of social media in driving business growth. Finocchiaro also shares her journey as a small-business owner on her personal TikTok account, where she has a large following and receives messages from aspiring entrepreneurs seeking advice.
Overall, The Nitro Bar has transformed from a struggling coffee cart to a thriving business with multiple locations and a strong online presence. Despite the challenges of running a small business, Finocchiaro and Lancaster have found success through hard work, perseverance, and a smart business strategy. By leveraging social media and embracing new opportunities, they have been able to grow The Nitro Bar into a multi-million-dollar enterprise. Their story serves as an inspiration for aspiring entrepreneurs looking to turn their passion into a successful business venture.
