- Investment sought:
- Equity offered:
We have been on a fabulous journey researching and developing new Mint sweets and introducing them to Spain.
In a world of Hi-tech developments, we feel that the traditional confectionery market cannot be overlooked as it can benefit from long-term repeat purchase sales, demonstrated by the fact that just the top 10 confectionery companies have a collective global net sales turnover exceeding $85.5 Billion per annum. We estimate sales of these types of sweets (Mint Imperials) in the UK alone are between £22 and £27 Million per year.
Boggle Mints are manufactured in the UK to a 100% natural recipe. Gluten free, suitable for vegetarians and we feel they are one of the few mint sweets containing real natural mint extract. As they have a resistance to heat deterioration, we have first introduced Boggle Mints in Spain, where heat resistance is proving a unique selling point. We have other product developments planned and we hope you can join us on the rest of the journey.
Boggle Mints are currently sold in retailers in the town of Alicante, Spain and achieving sales of around 3,000 bags per month. With promotional support, publicity and PR, we are confident in expanding first within Spain beginning with Madrid (the largest Community in Spain). We expect that this should act as an excellent springboard to national expansion, and then into new global markets.
Boggles are already sold in Spain alongside brands such as Orbit, Mentos, Halls, Fisherman’s Friend and Tic-Tacs. All brands which are examples of the possible long term repeat sales volumes of these types of sweets. We feel the need to expand in order to satisfy expected demand, plus we have product development plans including fruit flavours and new variants such as natural sugar-free (or reduced sugar) Boggle Mints.
"Sugar free Confectionery only accounts for 5% of the UK sweets market. In Spain it is a high as 60%".
We believe that these developments, together with the unique selling point of Boggle Mints (heat resistance) will open new global opportunities, including the UK but especially in other hot climate countries worldwide.
Logistics are in place for expansion in 2016. Our aim is that the 'Boggle' will become known as a ‘type’ of sweet in Spain, like the 'Mint Imperial' is a ‘type’ of sweet in the UK. Initially we aim for expansion to start with a focus in Madrid, a community with a population of over 6 Million people. We are already in discussions with a number of large Spanish Distributors expressing interest.
For the past 3 months we have been working with one of the world’s largest product branding and launch agencies, Grey Group. Together with Grey we are using this opportunity to re-brand the product based on their research, and satisfy the initial larger orders.
Substantial accomplishments to date
So far we have self-funded:
- Spanish heat trials of UK Mint Imperials (including 2 x hot summers).
- Heat resistant Boggle Mints recipe and production development.
- Product launch plus 1 year of packaging trials.
- Packaging re-designs and fresh trials.
- New zip closure bags launched 2015.
- Sales outlets established in Alicante town, Spain.
- Current sales approx 3,000 bags per month.
- 1,440 bag trial order delivered to Madrid (Oct 2015).
We only have a small office and most other outgoings are directly related to sales volumes. Our manufacturer produces on our demand and to deal with the packaging and distribution of large orders, we have organised an out-sourced UK packaging and distribution facility.
We, together with Grey Group, will concentrate on brand awareness and expanding the distribution in Europe. As a result of working with Grey, we feel that we know who to sell to and what product image those consumers will favour, particularly in Spain.
Our aim is for future product developments to include new flavours, variants of Boggle Mints, frozen yoghurt mint toppings and launching all products in worldwide markets where Boggles and Boggle type sweets do not yet exist.
ALL BOGGLE INVESTORS (regardless of amount) will receive an Invitation to a traditional Paella fiesta (party) in Alicante upon reaching our first £1 million wholesale turnover.
- INVEST £500 to £1,000 and we’ll send you a box (12 bags) of Boggle Mints from Spain.
- £1,000 to £10,000 and receive 24 bags plus 4 jars of Boggle Mints, a Boggle T-shirt and Golf Cap, plus a HQ tour in Alicante plus a full Spanish dinner (or 3 course lunch) at a date of your choice, for up to two people (when you can make it over to Alicante).
- £10,000+ receive the same as £1,000+ (above) PLUS FLIGHTS & ACCOMMODATION (Alicante) for up to two people (up to 2 x nights).
Use of proceeds
Use of proceeds.
- Increase stock production.
- POS materials (in store displays).
- Advertising & Marketing.
- Working Capital.
Our first expansion target will be to expand sales from just the relatively small town of Alicante to the larger cities across Spain, Madrid, Barcelona, Valencia, Murcia etc.
Initial focus will be in the largest city, Madrid. We have recently sent a trial order of 1,440 bags to a large Spanish Distributor in Madrid but that quantity barely scratches the surface of the community population of over 6 million people and thousands of retail outlets. We aim for Boggles to start hitting the Madrid retailers in January 2016 and we plan to support those outlets with promotional materials, personal visits, attendance at fairs, sales goal based rewards for the retailers and the Distributors. At the same time we aim to seek new Madrid Distributors to maximise retail coverage. Once Boggles are sufficiently established in Madrid, we plan to do the same in Barcelona etc.
Our longer term goal and target market is the entire population of Spain where there is a real need for a sweet that can survive the heat being kept in a car. Through working and living in Spain, I found that even chewing gum can't survive in a Spanish car without melting. One aim is to make Boggles the No.1 sweet for car journeys and travel in general.
Our experience has shown that Fisherman's Friend are popular in Spain. In Spain these are considered a refreshing sweet (not a throat lozenge) and we feel that their success may well be due to the fact that they are a sweet that can be kept in the heat of a Spanish car.
We already have retailers in Alicante and our next target is Madrid, which is a community of over 6 million people. We have already sent our first trial order of 1,440 bags to a large Distributor in Madrid at the end of October 2015 ready for distribution in January 2016.
The UK marketplace for sweets is mainly Supermarkets and Petrol Stations with a relatively small number of independent retailers. The sugar Confectionery market in Spain is mainly serviced by Estancos (Licensed Tobacconists) and thousands of Bars, Bakers, Cafeterias, Patisseries, Kiosks, Chemists and Restaurants. We feel that supermarkets would not be the largest outlet for Boggle Mints.
“Western Europe will remain the premier Confectionery market by some distance"! Confectionery News 2014.
“Spanish Consumers follow ‘heavy frequency’ Confectionery consumption” JSB Market Research 2014.
We believe that despite a slightly smaller population than the UK, the actual retail market in Spain should be equal to the UK in terms of consumer numbers. On this basis, we believe that the total market for Boggle in Spain should be almost the same.
Characteristics of target market
A couple of quotes say it all: "Generally speaking, the Spanish Confectionery market is positive, with growth in 2014 of around 5% in almost all Confectionery segments. The European market generally for such products has tended to remain stable in recent years. Within the large European markets, only Spain has registered significant rates of Confectionery sales increase".-Sweetpress España 2015 "The main Confectionery Spanish sales channels consist of a large 350,000 small establishments, including street kiosks, independent shops, pick´n'mix, tobacconists, bakeries and markets such as vending machines in cafes and bars, etc. These sales outlets are serviced by around 610 specialist Distributors distributing throughout Spain. The Distributors are relatively small (only six have turnovers of above €6 million Euros per year". - Sweetpress España 2015.
After years of building Boggle, the Directors of Boggle feel they know this market very well. Every sweet retailer in Spain is a target!
As previously stated, we are discussing distribution to new retailers with a number of distributors in Spain. With one, we have already informally negotiated a 5 year exclusivity request down to 2 years. We are proud to have generated such interest and it demonstrates to us that the demand is there, but all distributor options will be considered to achieve maximum market coverage in the shortest timescale possible.
Currently the biggest seller of Boggle Mints in Alicante are Spanish Tobacconists (called Estancos). Estancos do not exist in the UK but in Spain there are around 15,000 individual Estancos. Through the Spanish Distributors we would be able to access a portion of those with the goal of reaching them all.
We feel that the re-branding, advertising and marketing campaign undertaken by Grey Group will help the word spread. We will be working to boost our online presence, especially on social media, with the help of the Grey Group guys in Madrid and Barcelona who have identified some wonderful and exciting ways of stimulating interest in Boggle Mints. We believe the next phase of the Boggle journey will also be interesting and exciting.
Together with Grey Group we have studied the competition in detail. Boggle is already being sold on the shelves alongside the competition, which in Spain are Mentos, Tic-tacs, Halls, Fisherman's Friend and chewing gums.
We are not unduly concerned by competition as due to the heat resistant properties of a Boggle Mint, in any hot climate country, we feel there is no direct competitor to Boggle. We are also aiming to establish Boggles as a 'type' of Mint sweet opposed to just a brand. ‘Mint Imperial’ doesn't translate well in Spanish so we believe that if a competitor emerged it would be a Mint Imperial product and they would need to find an alternative way of naming their product. By then we feel that 'Boggle' lovers would stay Boggle lovers despite any attempts by competition.