Crowd Funding Interest
Last year we crowdfunded to enable us to grow to meet the demand of being listed with Sainsbury's. We took on more members of the team and bought new equipment to produce larger quantities of sauce.
We are now producing up to 800kg per day and demand is still outstripping our capacity. We are now faced with the bigger challenge that our current premises is no longer suitable for the size of the business.
We have found our new site and are now working on a crowdfunding round to provide the capital we need to realise our exciting plans. We will move to the new site and hire more people at all levels in the business. We have seen a huge demand in food service enquiries over the last 6 months and we need put a more concerted effort into growing this side of the business through sales and marketing.
We last raised funds against a valuation of the company as £1.75m, at that stage we had a turnover of £175k. We're now operating at a run rate of £840k and we'll be looking raise investment against a valuation of £4.75m (pre-money). This increase in valuation has considered that we are 4x bigger in terms of sales than we were in 2017, we are operating at higher gross margin % and are working with a positive level of profit, rather than being in a loss making position.
We are targeting a turnover this year of £900k-1m and we have set ourselves the ambitious goal of reaching £10m turnover by 2023.
Our plan is to raise £250-500k by exchanging share equity of 5-10% of the company. If being part of this sounds of interest to you please complete the form below.
Our exit strategy for investors is to aim for an IPO in 2025-2027, but we wouldn't rule out a trade sale.