James Johnson
In an age dominated by digital innovation, the resilience and vitality of brick-and-mortar businesses remain a cornerstone of the economy. Recognizing the unique financial challenges faced by these enterprises, a 30-year-old visionary has embarked on a mission to revolutionize how they secure funding for growth and expansion.
The Genesis of Bonside: A Vision for Sustainable Growth
The founder, a former Bain & Co. professional, found herself at a crossroads when seeking avenues to expand her multi-unit services business. The question that propelled her into action was both simple and profound: How could she leverage the success of her existing locations to finance the future of her enterprise?
This pivotal moment of introspection laid the foundation for Bonside, a fintech trailblazer that offers a novel approach to financing brick-and-mortar businesses. Launched in June 2023, Bonside introduces a financing model that doesn’t necessitate businesses relinquishing equity to investors or taking on conventional debt.
The Bonside Difference: Revenue-Based Financing
Bonside’s revolutionary approach is rooted in revenue-based financing. Instead of acquiring ownership stakes, the company extends financial support in exchange for a percentage of the business’s revenue. This partnership remains in effect until the store reaches a predetermined cap, ensuring a mutually beneficial arrangement.
Early Success: Pioneering a New Era of Growth
Bonside’s inaugural $3 million fund, initiated a year ago, marked a significant milestone in the startup’s journey. Ten businesses received backing from this fund, empowering them to embark on expansion ventures. Notable success stories include Evolve Med Spa, which elevated its locations from eight to an impressive twelve, Jojo’s ShakeBar, which blossomed from four to seven outposts, and the yoga haven Y7.
A Collaborative Ecosystem: Connecting Investors and Businesses
In tandem with deploying its own capital, Bonside has established a marketplace that unites investors with physical businesses. This innovative platform empowers investors to support enterprises utilizing the same revenue-based financing model, creating a symbiotic ecosystem that fosters growth and prosperity.
The Dawn of Premiere II: Elevating Possibilities
Building on its initial triumphs, Bonside is set to unveil its second funding vehicle, Premiere II, with a robust $5 million commitment. With a starting check size of $250,000, this fund signifies Bonside’s unwavering dedication to empowering brick-and-mortar businesses on an even grander scale.
A Visionary Future: Pioneering an Industry Standard
As Bonside embarks on this new chapter, it sends a resounding message to the business world: the future of financing is innovative, collaborative, and poised to transform the brick-and-mortar landscape. With high-net-worth individuals, real estate luminaries, and family offices at its side, Bonside is poised to revolutionize how businesses grow, evolve, and thrive.
In a world of endless possibilities, Bonside stands as a beacon of hope for entrepreneurs and investors alike, proving that sustainable, equitable growth is not only possible but the future we’re headed towards.
