Welcome to The Abbey - Murfreesboro
Our Vision
The pub and coffeehouse will provide locally brewed beers and custom blended, locally roasted coffees. The space will be a showcase for local artists and the pub will periodically feature local musicians in the unique basement venue.
The coworking space will have a variety of working environments from community spaces for collaborative creators to grow, learn and bring dreams to fruition to dedicated individual and group spaces for entrepreneurial endeavors. Specialized studios for producing podcasts and photography will be available, and there will be multiple rooms for small and medium sized meetings. Special considerations will be made for local organizations serving the Rutherford County area.
A New Normal
The Covid-19 pandemic, along with the emergence of new technologies and a new generation of workers, has shaken the culture of many workplaces. Many companies will not go back to whatever their “normal” was just a few months ago. Remote working is here to stay and provides huge opportunities for innovative business models in communities like Rutherford County.
Fran Katsoudas, Cisco’s Chief People Officer was recently quoted in a CNBC interview as saying, “It’s a whole new dynamic. By 2025 I envision we will have a hybrid model and we will be more deliberate in who comes to the office and for what purpose. That’s because we’ve found we can do so much remotely, including Webex meetings and talent expos. Right now, we are at the beginning of this new journey and we are learning all the time,” says Katsoudas. Most of Cisco’s employees have been working from home for months, and Katsoudas said data showed many were accomplishing more. For example, according to the company’s tracking, customer service representatives are taking more calls and customers are more satisfied with the help they receive. This may be a result of many factors. Without long commutes, small talk with colleagues and leisurely coffees in the break room, many workers — especially those who don’t have to worry about child care — are getting more done. From CNBC @Work, Oct 6, 2020 Lori Ioannou@
The timing is perfect for an innovative style of coworking space for individuals working remotely and for entrepreneurs embarking on new ventures. The Abbey Murfreesboro is just that place. A place with space that represents the beauty and creativity that inspires collaboration and community for a new type of workforce.
Welcome to the casual atmosphere. Commuting is now a five to ten-minute trip. Fresh specialty coffee and pastries on arrival. Save the gas expense. Save the parking cost and hassle. High-tech resources will be at your fingertips. Dependable, corporate level, high-speed internet. Home for lunch. Grab an afternoon local brew. Attend the kids’ activities at school. Dinner at home before the late news.
Unique Character
There is no place like The Abbey. It combines an old-world style pub and coffeehouse serving local beers and exclusive blends of locally roasted coffees along with delectable small-plate food. The pub and coffeehouse provide a cozy, inviting, two-level gathering space open to the public. The pub will host locally created art and craft exhibitions and singer-songwriter showcases in its intimate, basement concert venue.
Surrounding the two-story pub and coffeehouse will be the coworking space offering a number of membership options from occasional drop-in work sessions to fulltime office spaces, all with access to the latest essential office technology. There will be large and small conference rooms, single desk space and open collaborative space. There will even be a “laboratory space” for a businesses birthed in the Abbey to “try out” a business concept before making long-term commitments to space and staffing.
The mix of members, atmosphere and resources will produce an explosion of creativity to benefit the entire community. The Abbey will offer a variety of training classes to meet the needs of students, entrepreneurs, and groups of planners. There will be an emphasis on helping start self-sustaining ministry and community-service organizations.
The Abbey will be home to a regional center of Veritas College International, training lay members and ministerial professionals in Bible skills. Local and national experts will lead training seminars onsite and online from the Abbey.
Artists can access the audio, video, and photography studios for podcasting sessions, photo sessions, and creating simple video clips or commercials.
Facility Target
We have identified and qualified the target facility. The Three-year pro forma (below) is based on this facility. A functional mock-up is available to view online. (Click on model ‘views’ in the online viewer for a walkthrough of the space.)
Revenue Opportunities
Rental Income and Operating Profit from company-owned tenants operations.
Pub and Coffeehouse
- Pub Food and Beverage
- Packaged Coffee
- Logo Products
Coworking Space
- Flexible Memberships
- Desk and Office Rental
- Concierge Services
- Mail, Lockers
- Specialty Space Rental
- Studios, Conference Rooms
- Specialty Events
Three-year Pro Forma - The Abbey Murfreesboro, LLC
Investment Opportunity
The need is for a total of $4 million to cover real estate purchase, renovations of the existing structure, fixtures and equipment, start-up operating expenses and operating capital until positive cashflow is reached.
The company is chartered as a Manager-Managed LLC. 80% of the project ownership is available for the total investment. The remaining portion will be owned by the managing members (listed below) and the Abbey Murfreesboro non-profit, a 501(c) (3) entity that will provide training and activities for, and pay rent to the Abbey LLC.
Summary
The Abbey Murfreesboro, LLC, will own the real estate and improvements to the building that will house the pub and coffeehouse and the coworking space operations. That primary Abbey LLC will also own two separate LLC’s, one that operates the coworking space and a second one that will operate the pub and coffeehouse. Each tenant operation will pay rent to the primary LLC. Ownership in the primary LLC will be offered in units of $10,000 each. Purchasing units will only be available to individuals. No business entity may purchase units. A limited number of investment units in the coworking and pub LLC’s may be reserved for smaller investments through a crowdfunding campaign. Each $10,000 unit will represent a pro-rata share of the 80% of open ownership as non-voting LLC members. Anyone purchasing 10 or more units will receive a grant of additional shares representing 10% of the value of the units purchased. A personal guarantee of loans to the Abbey Murfreesboro, LLC, for $500,000 up to one half of the total project cost will be considered equal to a cash purchase for pro rata ownership of the 80% of open ownership. Anyone purchasing or guaranteeing up to one half of the total project cost or more will be considered for joining the LLC as a Managing Member.
In the event of the death of an owner, the ownership shall be subject to the applicable estate laws of the State of Tennessee and the provisions of the LLC Operating Agreement. The Managers of the LLC may, at their sole discretion, make an offer to buy back the units owned by the deceased member at a then-assessed fair market value. Should the managers not make an offer to purchase the shares, the Managers retain the right to approve any purchasers who may wish to purchase the deceased owner’s shares.
This description is meant to be an overview of the investment opportunity with The Abbey Murfreesboro, LLC. The actual investment offering is contained in the Operating Agreement and Subscription documents. Please review the document carefully and consult your professional advisors before investing.
Although based on what is believed to be a sound business plan, investing in The Abbey Murfreesboro, LLC is a high-risk investment in which part or all of the investment may be lost. The Managers make no guarantees of positive returns at any time in the future. Investments will be immediately available for use at the sole discretion of the Managers within the scope of the LLC Operating Agreement. Ownership of units in The Abbey Murfreesboro, LLC, may not be sold or transferred in any form for two years from the original purchase date. After the two-year mandatory hold, the owner of shares may offer the shares for sale after giving the Managers first option to purchase the shares.
For a working copy of the LLC operating agreement, or any other questions or feedback, please email investorinfo@abbeymurfreesboro.org.
Managing Members
Austin Cagle, CEO
Austin is the National Training Coordinator for Veritas College International’s U.S. operations. He also serves as the upper school curriculum coordinator at Providence Christian Academy in Murfreesboro, TN, where he has taught Latin, ancient and medieval literature, logic and senior thesis. In the past Austin worked as a barista and then managed the CC Café in Nashville, TN. He has led a number of teams and ministry initiatives all over the world.
Jeff Hess, COO
Jeff has a background in engineering, sales, and entrepreneurship. His experiences have ranged from owning a material-handling sales office, to working with church plant pastors on facility development, to opening and running a climbing gym and a bike shop. His passion is developing people and systems that can impact the world in positive ways, and encouraging and empowering others to follow their gifting and calling. He believes that business training, paired with scriptural training, alongside a committed, God-centered community in proper rhythm will enable entrepreneurs and believers to create sustainable change in this world.
J. Paul Jackson , CFO
Paul has been an entrepreneur and executive management with small and medium size for-profit and not-for-profit business start-ups. Cofounded and managed all marketing for MediaComplete, a software company that created MediaShout, a live presentation software platform used in churches worldwide. Also co-founded an international non-profit organization focused on anti-bullying and suicide prevention for elementary through high school students. Paul started his career fundraising for national non-profit organizations, then transitioned into Christian music, managing the careers of multiple Grammy award-winning band Petra, Kim Boyce and Geoff Moore.
