Pocket Bakery won’t be opening in the Central District anytime soon. Josh Grunig, the baker behind the bakery said he would still love to open a retail location in the area, but financial realities have forced him to alter his plans from a year ago.
“Maybe I was a little naive, but I also try to be as optimistic as possible,” Grunig said.
He had been operating Pocket Bakery as a pop-up in Magpie, a toy and clothes shop on 20th and Union with plans to open his own retail location in a new building near 23rd and Union. He explored bank loans but ended up raising about $25,000 from crowdsourcing. He has about 100 participants in the loan program, about a third of whom were from the neighborhood, he said.
But $25,000 doesn’t even come close to funding the startup costs for a retail bakery. Building out the dining space alone can run into the six figures, and then there’s still the kitchen. After his fundraiser finished, he found his would-be landlord was not as optimistic as he about his plans to come up with the capital.
“Literally, a week after that was done, they offered the space to someone else who was fully funded,” Grunig said. Continue reading