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Straight & Narrow

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Ready to produce and distribute a portfolio of Premium 0% Non-Alcoholic drinks ahead of Dry January.

178%
 - 
Funded 9 Nov 2021
£100,008 target
£180,873 from 138 investors
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Business overview

Location Shrewsbury, United Kingdom
Social media
Website www.straightandnarrowdrinks.co.uk
Sectors Food & Beverage Non-Digital Mixed B2B/B2C
Company number 12973448
Incorporation date 26 Oct 2020
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Investment summary

Type Equity
Valuation (pre-money) £900K
Equity offered 16.55%
Share price £9
Tax relief

EIS

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Business highlights

  • Non-Alcoholic drinks surging +51% and now worth £217m
  • Launch Planned for Dry January, 6.4m people took part in 2021
  • PR & Social media campaign being prepared for launch
  • 25% of all 18-24 year olds describe themselves as non-drinkers.
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Key features

  • Secondary Market
  • Seedrs nominee min. £18.00 +
  • Pay by Bank payments not accepted
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 138
  • Discussion
  • Documents

Idea

Introduction

Straight & Narrow are ready to produce and distribute a portfolio of recognisable naturally flavoured 0% Non-Alcoholic Spirits offering great value for money.

Each product is housed in a distinctive bottle shape together with a premium foil design to give maximum on shelf impact.

Our Ready to Drink range is also in development, ready for launch in January 2022.

Giving back is also part of our DNA, we support chosen charitable partners by attending fundraising events and donating 3-5% of our profits. That way our consumers feel good inside and out every time they raise a glass!

Substantial accomplishments to date

○ We have spent the last 6 months fine tuning the recipes, focussing on getting the perfect balance of flavour and heat.

○ The team consists of handpicked industry experts which offer the perfect balance of experience and fresh ideas. Jason Stoneham, CEO/Founder, previously held senior commercial positions including Interim Head of Sales at Life Health Foods Europe, where he played a strong role in turning around market performance which kickstarted market share growth for the brand. Nigel Broadhurst, Independent Non Exec Director, was previously MD of Iceland Frozen Foods.

○ Our ambition is to recruit and develop a talented team with a can-do winning attitude.

○ The Ready To Drink liquids are at the final stages of development and will be available in both a canned and bottle format.

○ Masters of Malt have agreed to list Straight & Narrow products from launch.

○ We have built our social media awareness from our partnership with Cure Leukaemia summer BBQ campaign and were included in a regional press supplement that reached 250K people.

○ Medal winner at the prestigious International Wine Spirit Competition 2021

○ Most Grocery supermarkets have been approached and samples have been submitted to a major supermarket and discounter.

○ Our plan is to work with no alcohol social media groups and work in partnership, offering incentives for their followers - e.g. Sober Girl Society.

○ Currently pulling together our marketing & PR launch campaigns.

Monetisation strategy

As well as selling our own product, we will also sell other complementary brands with a margin of between 10-15%. We are already able to offer Krombacher, which is the most popular Non-Alcoholic Pils in Germany with a 20% market share.

The plan is to have a balanced portfolio across retail, hospitality and direct to consumer.

Selling other brands also increases our distribution efficiencies and improves profitability further.

We aim to maximise our revenue by offering a White Label option.

We will not deal with customers who are a credit risk or have a reputation of delaying payment.

Direct to consumer offers a more profitable route to market and part of our strategy is to presell the stock in line with production.

Use of proceeds

Ready to drink stock and bottle development 20%.

Production trials and shelf life tests 30%.

PR Launch press release in October targeting trade media on-trade, off-trade, drinks trade, wholesale, feature submissions to relevant Christmas and Dry January 10%.

Social media awareness campaign with influencers 10%.

Marketing costs for design work 10%.

Operations and distribution costs 5%.

New website with online shop 5%.

Salary & Expenses 10%.

Key Information

SEIS/EIS Tax Relief

The first £150k invested in the round is eligible for SEIS tax relief and will be offered on a first come first serve basis.

Investments over £150k will be eligible for EIS.

Director Disclosure

The Founder previously went into volutary liquidation with a previous contracting company, following a change in HMRC repayment requirements. This was settled in December 2020.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

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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 £900,000

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

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

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

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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