Get Set Pet
We are raising funds to accelerate our growth to become the ultimate destination for pet supplies.
- The UK’s #1 rated pet supplies business on Reviews.io
- Since our raise last year our turnover has more than doubled*
- An increase in subscription revenues of 173% YoY*
- Secured partnership launching to a million customers
We are Get Set Pet and we’re on a mission to help your pets live their best lives. We bring together expert knowledge, nutritious food and high-quality products and combine it with an exceptional customer experience.
Get Set Pet is the UK’s #1 rated pet supplies business on Reviews.io.
Since our last Seedrs raise our business has grown rapidly. We have been able to continually grow our subscription customer base and our annual turnover has more than doubled. Our goal is to accelerate our strong growth whilst raising the customer experience bar even further.
An estimated 17m households in the UK have a pet and with 3.2m households adding a pet to the family since the start of the pandemic Get Set Pet is well positioned to take advantage of the growing £4.1 billion a year pet supplies market.
We’d love you to be a part of the next phase of our journey.
Substantial accomplishments to date
We have continued to differentiate ourselves on the customer experience front and are extremely proud of our overall rating of 5.0 on Reviews.io with over 2,250 five-star reviews.
Since our last raise in early 2021, we have more than doubled our turnover*.
*based on unaudited management accounts.
We have managed to grow our subscription revenues by an impressive 173% YoY and now have over 1,200 active subscription customers*.
Our team has grown to ten full-time employees and we successfully moved location in June 2021 to a larger warehouse in Wokingham, Berkshire.
Finally, we have secured an exciting new partnership with one of the UK’s leading pet insurers, which is rolling out to up to one million customers over the next 12 months.
Our strategy is to retain customer sales through our exceptional customer experience and drive recurring revenue via customer loyalty and retention.
Most of our current sales are through a combination of direct website purchases and our subscription service - Get Set SAVE. Additional sales are achieved via third-party marketplaces which provides us with a great source for new customer acquisition.
Key to driving future sales growth and improving margin is increasing basket size. We have deployed an AI-driven tool to identify and target relevant customers via upsell and cross-sell activity. Focusing funds on additional marketing activities will help us grow our brand and revenues further.
This year we plan on introducing our own brand of pet food, treats and accessories with the aim of boosting margins and driving growth.
Our B2B partnerships with both private and large-scale public sector customers, together with our recently introduced Click & Collect service, represent further opportunity.
Use of proceeds
1 - Customer acquisition and marketing - 40% of the funds will be spent on customer acquisition and marketing activities. These funds are intended to drive revenue via digital marketing, promotional activities, social media and continued SEO improvement.
2 - Key hires - 15% will be spent on salaries and recruitment expenses of key hires. We expect to make senior hires in marketing and operations.
3 - Strategic acquisitions and partnerships - 15% will be spent on asset acquisition, the roll-out of our strategic partnership and to pursue similarly transformational opportunities with other companies.
4 - Product development and sourcing -15% will be used to expand into white label products to offer new and innovative products we know our customers want and need. We will need to invest in testing of packaging and recipes.
5 - Working capital and technology - 15% to support our continued growth and invest in working capital to hold more stock whilst also upgrading our technology and systems.
The company has the following outstanding loans:
1. A director's loan of £150,000, which was received in December 2021 and is repayable over 3 years. The loan accrues interest at First Direct' standard mortgage variable rate, currently 3.54%.
2. A director's loan of £243,984, which is currently interest free with no repayment scheduled at this point. The loan was incurred during the start-up phase of the business.
3. A £40,833 Bounce back loan, which was received in June 2021 and is repayable over 5 years. The loan accrues interest of 2.5% a year.
4. A £200,678 working capital loan, which was received in March 2022 and is repayable over 12 months. The loan accrues interest of 10.99% a year.
The funds raised from this investment round will not be used to repay these loans.
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