- Investment sought:
- Equity offered:
Please note that whilst the campaign is labelled as EIS eligible the Company has £150,000 remaining of its SEIS limit. We will, therefore, be looking to seek SEIS relief on the first £150,000 invested into the campaign, with the balance being EIS eligible. Any tax relief is dependent on personal circumstances and may be subject to change in the future.
Maní (pl. Maníses) - Peanut or Groundnut (Latin American).
ManíLife is an award winning, single source peanut butter, crafted in London. Since October, we have gone from 20 to over 470 stores including being stocked in 400 stores of a high street retailer, and have increased online sales 7x. We have achieved this with one full-time employee (admittedly over 60 volunteers), a £25,000 personal loan and kitchen production, selling at roughly double the price of our competitors.
Pure peanut butter is not new. However, we differentiate ourselves in what we do, rather than what we don't add.
We source from one farm in Argentina, from farmers who have become friends. We masterfully roast, blitz and blend these beauties fresh weekly in the London ManíFactory.
We are masters of our craft.
ManíLife is negotiating a deal with a London-based production house that will enable us to maintain the quality of our products with smaller, more regular production runs, whilst benefiting from the ability to scale.
ManíLife’s overarching purpose is to unleash the potential of every moment and every product, making people happy in the process.
We unleash the potential of our ingredients by being masters of our craft.
We are creating a tribal community because we're more likely to reach our potential together.
We want to supply those who can afford to buy it and find ways to give it to those who can’t because everyone deserves the chance to experience their potential.
Through crafting genuinely delicious, truly nutritious products we want to show that a genuine indulgence, that's also good for you, is possible. Part of our vision is to create a line of products which helps transform the modern till display from a mix of sugary rubbish and healthy options that few kids would touch, to these healthy indulgences.
Substantial accomplishments to date
1. Soft Launch in June 2015 - our manufacturer pulled out on arrival of our peanuts. We were forced into Vitamix production - 40 people volunteered to bring ManíLife to life.
2. Named Healthy Food brand to watch in 2015 by About Time Magazine in August 2015 - slightly early perhaps!
3. In July 2016 we were approached by a Major UK multiple grocer.
4. In July 2016 we were approached by the UK's largest online grocer.
5. In September 2016 - awarded with a place on the New Entrepreneur's Foundation - a year long program that awards 40 successful candidates from over 4000 applicants with training and support in launching their ventures.
Since going full time in October we have:
- Been awarded a Bursary to attend the BBC Good Food Show - the only peanut butter ever and the only single product entry of 2016.
- Been stocked in over 400 stores.
- Increased our monthly revenue by over 500% since September 2016 - YTD £69,340.*
- Listed with a major UK distributor.
- Been featured in Speciality food magazine, The Guardian, Madeleine Shaw's Top Picks.
- Been featured on The Jo Good Show BBC Radio London
- Had both our products shortlisted for The Free From Food Breakfast award, sponsored by Holland & Barrett and one product shortlist for Free From Start-Up Award, sponsored by Tesco.
All this has been achieved with a full-time team of one (and, admittedly, a lot of volunteers).
*Source: unaudited management accounts
We intend to sell products and earn a margin through the following channels:
1. Direct to Multiple grocers.
2. Direct to Independents and Indirectly through Distributors.
3. Direct to customers online and at events.
4. Food service into kitchens, sports clubs, hotels, and restaurants.
5. The ManíLifer community - a growing number of inspirational ambassadors selling our products.
Use of proceeds
1. Team - an experienced marketing and operations hire to provide structure and a greater degree of strategic marketing planning and implementation.
2. Offline Marketing - The majority will be spent on this. Our marketing plan revolves around getting people to taste the superiority of our product. Sampling at stores, offices, events and trade shows will make up a considerable portion.
3. Online Marketing.
4. ManíLife Meal Time set up - ManíLife meal times will be an opportunity to showcase the dexterity and deliciousness of our peanut butter. Creating an energetic party atmosphere around these will be key for maximum impact.
5. Flights to the farm. It's been 2 years since Stu visited the farm in Cordoba, Argentina. It's time we went back.
6. Branded assets - ManíLifer stash, point of sale displays, branded packaging and a new set for events.
7. Cash Flow - We will factor the majority of lengthy receivables, however, there will still be some cash flow requirements as we grow.
Please note the Company has an outstanding debt of £46,000 in the form of a director's loan. The investment proceeds will not be used to repay this loan.
Our customers are health conscious consumers that don't want to compromise on taste.
Broken down into 3 categories:
Individuals and families who want a healthy indulgence - this is the young, middle class family or single professional. They shop at independent grocers, online and high end supermarkets. They look for quality and value over price. We will target this sector through in store samplings, on shelf communication and targeted distribution.
Active go-getters who are looking for a slow release energy boost and a tasty source of protein and healthy fats - Primarily makes up the growing lifestyle sports community, they want to lead a healthy lifestyle but are tired of unnatural, tasteless supplements. We will target this sector through relationships with gyms, sporting events and influential athletes.
Home cooks, bakers and restaurants who want to experiment with tasty, textural ingredients - Perhaps the unexplored segment of our target market we will target this sector through relationships with ingredient box companies, chefs and restaurants.
Characteristics of target market
The UK jarred peanut butter market is growing, with sales up by 13% in 2014.
We estimated the UK peanut butter industry to be £69.6m.
- Rebranding of peanut butter as a health food.
- War on sugar.
- Increasing vegan/vegetarian community.
- An indication of where the UK market could go in terms of value is the US where it is valued at $1.82bn in 2015.
95% of UK adults have snacked in December 2015, down fro 97% a year prior. 48% of adults are health conscious snackers, and 53% of UK adults actively taking steps to limit or reduce the amount of sugar in their diet. This is leading to strong growth in the savoury snack market.
The superior quality of our product means that, on tasting, we are creating peanut butter lovers from those who had previously hated the stuff. Our plan is to continue to grow the peanut butter category and expand its use.
GROW THE MANILIFER COMMUNITY.
We are growing a community of ManiLifers that not only love and shout about our brand, they are also ‘stockists’ in the community. By stocking through people as well as stores:
• We create a stronger brand community – there’s a personal connection.
• Empower our advocates – to earn margin, spread and be part of a brand they love.
• Increase our reach faster – people sell and communicate faster than shelves.
EVENTS & INSTORE SAMPLINGS.
• As a superior product, tasting is the best way to encourage purchase of ManíLife.
- Tasting at events. We have attended 7 consumer shows since September. Plan one a month in 2017 as these have been good marketing and provided a lucrative revenue stream.
- ManíLife meal time - the plan is to showcase ManíLife as an ingredient of champions at festivals and events - we will sell fairly priced ManíLife combinations at these destinations to build an association with good times!
• In store samplings. We will harness the ManíLifer network to provide engaging in store experiences.
PR, SOCIAL AND DIGITAL CHANNELS.
PR: Our aim is to get ManíLife reviewed in as many publications as possible - the taste of our products speak for themselves.
Digital – Facebook, PPC and email marketing to grow sales and engagement online.
• Online sales increased on average 46% per month since September.
• Average monthly ad spend £67 since October.
• Average monthly net sales £1,407 since September. We plan to increase this spend until it is no longer profitable to do so.
• Current combined social following of 7000.
Social – Assert ourselves as the good peanut butter brand that does good.
Our goal is to use peanut butter to get people eating healthily and living happily, either by supplying those who can afford to buy it or finding ways to give it to those who can’t. Initially, we will use our ManíLifer community to pass it on – giving the product to those they feel deserve it most. Eventually, we plan to run peanut butter led cooking classes in the community.
Distinct product proposition:
All the major players in our category are saying the same thing – “we add nothing, we do nothing”.
• Pip and Nut celebrates “natural nuttiness”.
• Meridian is “nuts about nuts”.
• Whole Earth is “wholesome natural ingredients, with no added nasties”.
We add nothing. We do lots.
• We will source direct from one farm in Argentina (the guys in the video).
• We masterfully roast, blitz and blend our peanuts fresh weekly in the London ManíFactory.
• The superior quality of our products comes not just from the quality of our ingredients but from what we do with them.
There was a time when coffee was just coffee, chocolate was just chocolate and wine was just fermented grapes – we want to lead the movement - peanut butter is not just peanut butter.
Our small and regular batch sizes paired with our London based production house means we anticipate being able to innovate with new flavours and formats quickly.
Distinct brand proposition.
We focus on craft, provenance and people.
• We are one of the only peanut butters talking about craft.
• We are one of the only peanut butter who knows the farm from which we source our nuts.
• By celebrating the people behind the brand and our customers we are creating an active tribe of advocates.
Over 60 people have worked for ManíLife for nothing.
Our fans not only love the product, they want to sell it.
Assert ourselves as the great peanut butter that does good.
ManíLife was inspired by my work with a peanut butter social enterprise. The desire to do good remains core to the brand. This is not a marketing ploy but there is marketing value to it.