Kit's Peanut Chutney
- Investment sought:
- Equity offered:
Kit's Peanut Chutney is a recipe that's been in our family for five generations. It's a spicy peanut based product, that can be used as a condiment, spread, dip or marinade.
We think there’s so much more to chutney than sugary mango and bitter limes. For too long, jarred condiments have been in a bit of a pickle, and it’s time that changed.
Our Peanut Chutney is home made with natural ingredients. It’s a vegan, gluten free recipe that tastes amazing.
We are Kit and Max Maharajh, a dynamic uncle & nephew duo. For years we have been discussing the dream of taking Kit’s Peanut Chutney to the masses.
When people ask us what Peanut Chutney is, it’s quite a simple reply: “it’s not just chutney.” It’s a bold flavour, incomparable and complimentary to a range of dishes.
Chutneys are being forgotten. In modern times, consumers are constantly in search of the next trendy health food or guiltless snack.
Consumers are more conscious than ever about the food that they’re putting in their bodies. There’s been a huge increase in veganism over the past 10 years, seeing an incredible 360% increase according to The Telegraph, and the gluten free market is showing no signs of buckling, as shoppers opt for ‘healthier’ options.
Flavour is being sacrificed, but we have a recipe that we’ve been making at home for 40+ years that tastes incredible. We want to add some flavour and spice to peoples everyday life, with a product that can be used as a dip, marinade, spread and condiment.
That’s why after all these years, we are bringing our family recipes to the market.
Substantial accomplishments to date
- We launched Chutney Champions, asking people across the world to taste our Peanut Chutney and give us honest feedback on it (without us being there). They rated us 4.4/5 on flavour.
- We gathered information about people's likeliness to pass the product on, as a net promoter score: 8.4/10.
- We're currently stocked in nine different independent outlets, adding new outlets every single day (one stockist ordered three times in their first week - a total of 57 jars).
This is a simple production model: we will produce Peanut Chutney products and wholesale to retailers and direct to consumers.
We currently sell our 120g jars to consumers for £3.50, and we have sold over 600 of these jars to date. We are aiming to increase our rate of sale by lowering the price of 120g jars to £3.00 as we're able to lower product cost through industrial production.
Scaling up sales.
Our consumers expect to pay £3.10 for a 120g jar.* We are planning an RRP of £3.00 for our 120g jar, which yields a 73% gross profit when selling direct to consumers. We will aim to wholesale these at £1.45 per jar, yielding a 44% gross profit per jar.
We plan to release a larger jar, 160g, to RRP at £3.75 which would yield a higher wholesale gross profit (49%).
*Based off survey results
Use of proceeds
We are looking to raise £100,000 through SEIS investment which will help us build the brand.
The money will be used to accelerate us through the first year plan. We will use it for marketing, salaries and to expand our production from Kit's kitchen.
With your seed investment, we will be able to scale up production and invest in marketing the product.
This money will ensure that we are able to grow as quickly as possible by exciting customers with a great a tasting product.