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Nourish by Jane Clarke

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Nutrition for the undernourished. A deliciously natural alternative to meal replacements.

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Funded 20 Jul 2021
£300,011 target
£332,948 from 0 investors
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Business overview

Location Chippenham, United Kingdom
Social media
Website www.nourishbyjaneclarke.com
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 09649346
Incorporation date 20 Jun 2015
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Investment summary

Type Equity
Valuation (pre-money) £3.7M
Equity offered 7.47%
Tax relief

EIS

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Business highlights

  • A unique solution to the growing issue of malnutrition
  • Secured Prue Leith, CBE, DL as patron and national press coverage
  • Raised more than £650k from private investors in previous round
  • 100+ verified reviews on Trustpilot with an Excellent 4.7 rating!
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Key features

  • Secondary Market
  • Seedrs nominee min. £26.67 +
  • Pay by Bank payments not accepted

Idea

Introduction

There is a crisis in caring, with the vulnerable not receiving the nutritional support they need or deserve. We’re changing that with Nourish.

Nourish by Jane Clarke, a disruptive, agile, aspirational wellness brand that revolutionises how the malnourished are cared for, with a delicious nutritious drink made with all-natural organic ingredients, using environmentally friendly, low carbon footprint packaging, delivered to the doorstep.

“The Nourish drinks are gorgeous, not too sweet but rich and calorific as needed!” Prue Leith, CBE, DL.

Jane Clarke is a highly respected dietician and Cordon Bleu chef who worked alongside Jamie Oliver on the school meals revolution and is also a trusted advisor with an Honorary Doctorate for services to nourishing the vulnerable.

She has seen the devastating effect of malnutrition particularly when undergoing cancer treatment or living with dementia or mental illness and is frustrated with the poor-quality, synthetic drinks currently offered.

Substantial accomplishments to date

Launching our business late in 2019 threw up significant challenges as COVID hit the care home community. Despite these unprecedented times, we have achieved significant success within our first year.

- Grew monthly sales by 1305% between our launch in October 2019 and April 2021

- Our customers' average order size is over £40 each month (April to date £43.50)

- Return on Ad Spend of over 2x (April 2.1x)

- Website conversion rate of over 2.5% (April 2.8%)

- Cultivated a loyal following with 41.67% of new customers returning the following month

- Expanded our Customers by 789% between January 2020 and March 2021.

- Secured the patronage of Prue Leith, (CBE & DL), and created a medical advisory panel which includes Dr Martin Scurr (Daily Mail) and Dame Elizabeth Harriet Fradd (DBE, DL, FRCN)

- We have featured in numerous publications including; Daily Mail, Net Doctor, The Sun Online, Daily Express, Red Online, Health and Wellbeing.

Monetisation strategy

Sales come from both direct to consumer (DTC) and via business-to-business orders (B2B)

Our DTC sales have been increasing since we launched our website in October 2019 fuelled primarily by paid Digital Marketing, PR, and Social Media.

The B2B market sees us taking orders from care homes, hospices and domiciliary care organisations, and current trials demonstrate a strong opportunity for growth.

The Oral Nutritional Supplement (ONS) market in the UK alone is valued at £237 million.

In addition to this core audience, a broad range of customers are enjoying the drinks from multiple segments. We are sought out by those looking for a tasty drink that provides a delicious and nutritious alternative to a meal. This has included cyclists, horse riders and golfers.

Use of proceeds

Objectives

Launch and scale B2B model

Invest in Direct-to-Consumer marketing

Activities

- To add additional marketing spend into the e-commerce / DTC side (38% of raise)

- To purchase our next production run of drinks (22% of raise)

- Appoint experienced sales and digital marketing leaders to the team (33% of raise)

- To go live on Amazon, working with a specialist selling agency (7% of raise)

Key Information

Founders Interests

The management team of the business are currently part-time. Jane Clarke CEO & Founder currently dedicates 4 days per week to the business.

Jane has spent the last 30 years building an incredibly well respected clinical practice, where she looks after people living with dementia, cancer and all the health problems on which Nourish has built its foundations upon. She receives referrals from health care professionals all over the world and believes it is therefore important that she continues to connect and support patients, alongside her Founder CEO role. This provides the foundation of professional respect (Jane was awarded an Honorary Doctorate for her work supporting vulnerable people), connections with fellow clinicians who recommend Nourish drinks to their patients, and also extremely valuable continual insight for future product development. Jane manages to juggle her patient load in just one day a week.

We currently have a lean workforce, mainly utilising a trusted group of agencies to provide marketing, digital and fulfilment expertise. As the company grows we will hire the best talent, but always look to balance our internal resources with external ones to maximize our consumer experience, and to stay up to date.

Outstanding debt

Please note the business has 2 outstanding bounce back loans of £50,000 each from Metro Bank. The loans are interest and repayment-free for 12-months and then an annual interest rate of 2.5% and six years repayment term.

Please note funds raised as part of this raise will not be used to repay outstanding debt.

Share classes

Please note, the valuation above is based on fully-diluted capital, including a 4,000 shares option pool made up of growth shares that the company has the indefinite ability to issue for a future management incentive plan, 1,390 of which have already been issued. The Company has created these shares to incentivise growth in the company via incentivising partners, advisors and employees.

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £3,717,078

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

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Payment options

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Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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