December 15, 2022
Hannibal, MO. – Corey Mehaffy, Executive Director of the Hannibal Regional Economic Development Council (HREDC) announced today that the Coffee Barn, a new drive through coffee shop, is scheduled open its doors for business by the second quarter of 2023. While planning began over a year ago, dirt work began a few weeks ago.
According to HREDC SBDC Entrepreneurship Specialist Maria Kuhns, the business model has transitioned through multiple iterations before landing on the current concept. Kuhns added, “We were able to work with the Terrill’s, Kassandra and Jen, to refine their business plan based on industry research, input from the local lending institutions and input from the clients based on their conversations with other business owners. The owners also visited a similar operation in Moberly, MO.”
Coffee Barn Co-owner Kassandra Terrill added, “Maria and Corey at HREDC were instrumental in turning this vision into a reality.”
Maria Kuhns added, “We work with clients to develop their business plan and financial projections. We can assist them in finding the capital needed to bring the projects to reality. We work with local lending institutions, in this case HNB Bank, area Revolving Loan Funds like the RLF’s offered by the Mark Twain Regional Council of Governments or Hannibal Industrial Development Company, and private investors through the IGNITE Investor Network.”
According to Kuhns, this type of assistance is important to business owners at any stage of business. Kuhns added, “The Missouri SBDC at HREDC offers one-on-one counseling on various business topics from understanding financial statements, customer discovery, business planning, cash flow analysis, and other events based upon the needs of our clients. We are here to help businesses in every stage. From concept to startup, growth to renewal, mature to succession.”
Corey Mehaffy stated, “I would like to thank the Terrill’s for their investment in the community. I would also like to thank Scott Koontz, of Koontz Properties, for working with the Terrill’s on the land sale. I think project is a compliment to the Koontz’s new multi-family development as well as that area of town.”
Terrill added, “We are excited to launch this new business in Hannibal. We’re going to have limited indoor seating as we’re going to focus on drive-through during the opening process. We plan to offer a small variety of food items like cinnamon rolls, muffins, scones, breakfast sandwiches.” Terrill went on to say, “Our top priorities are the customer experience, speed of service, and quality of drinks.”
More information on this new business can be found on the Coffee Barn Facebook page.
HREDC works to promote financial investment in Hannibal, and Marion and Ralls Counties. For more information on the organization, please visit their website at www.hredc.com.
