Please note that whilst the campaign is labelled as EIS eligible, the company has its SEIS allowance remaining. We will therefore be looking to seek SEIS relief on the first £150,000 invested into the campaign and EIS relief on the balance. Any tax relief is dependent on personal circumstances and may be subject to change in the future.
At The Brook we make exciting, delicious and nutritionally rich meals for a generation of busy, health-conscious people who want to keep their carbon footprint down.
Having spent the past 5 years honing recipes, and serving thousands of customers, at our restaurants we're now looking to extend our reach by launching a range of ready-to-eat and ready-to-cook foods, that can be enjoyed anywhere, by anyone, at any time.
Our range will provide support throughout the whole week; from grabbing a quick lunch in the office to throwing an impressive dinner party with friends. Whenever you're too busy to cook from scratch you'll be able to lean on our food for convenience, without compromising on quality, nutrition and taste.
We want to show the world that enjoying a diet rich in plant-based foods can be simple, convenient and incredibly delicious. We believe a lot of people are ready to make the switch but find the transition hard; having to learn new recipes and get to grips with new ingredients they've never heard of before.
In addition to this our time is often constrained and so convenience is important. In fact, in the UK, convenience is so important to us that 9/10 of us eat ready meals and in 2017 we spent £4.7bn doing so, making ours the largest ready meal market in Europe. Yet only 3% of the meals available in supermarkets are plant-based.
With a range of thoroughly 'tried and tested' dishes and a reputation for both great food and great service, we're perfectly positioned to help fill this gap.
Substantial accomplishments to date
- More than 5 years experience honing recipes and building a customer base.
- Thousands of customers already served.
- Hundreds of customers already signed up to a waiting list for the new service.
- 2018 Time Out award winner: Best Restaurant in Hackney (after only 3 months).
- 9.5k social media followers.
- National press coverage, including the BBC.
- An existing premises in Surrey to launch from.
- Established relationships with food wholesalers.
We will initially launch our new range via an ecommerce platform and ship directly to the customer. Since announcing our plans to launch a range we have been running a waiting list and already have hundreds of customers waiting to start ordering as soon as we're live!
Customers will be able to go online and either fill their cart with items of their choice or opt to receive the Chef's Menu, which will allow them to try different dishes every week, fortnight or month.
Alongside this we will be testing two other revenue streams;. retail (both independent and major) and wholesale (to pubs and restaurants). We are already in discussion with potential partners for both.
Use of proceeds
We're raising funds to set up a production kitchen, make key hires, develop the product and market the new range.
13% cost of the raise.
30% kitchen equipment.
Our customers are busy individuals, who want to eat plant-based meals but don't have the time to cook from scratch every day. They want food that is convenient, nutritious and full of flavour.
Characteristics of target market
Vegan Foods Market.
In 2016 Vegan Society announced that the number of people following a vegan diet had increased by a staggering 360% in the past decade, with 542k people identifying as vegan. But these statistics look like nothing compared to the growth seen in the last two years. A survey in early 2018 by comparethemarket.com found 7% of the British population are vegan and Eating Better's 2017 YouGov survey found that 44% of the UK are committed to reducing their consumption of meat and dairy, or have stopped eating it entirely.
Convenience Meals Market.
In 2017 UK consumers spent £4.7bn on ready-to-cook meals, making it the biggest ready meal market in Europe. Growth in the sector was led by premium brands, such as Charlie Bigham's and Genius, highlighting the growing focus on quality over cost. In fact, despite the fact that Charlie Bigham's meals are some of the highest priced in the market (£7-£8), the brand saw growth of 48% in the year.
As we move to an online business model, our marketing strategy will focus predominately on the digital world, via social media, SEO, PPC, affiliates and advertising. We will also be using sales promotions such as 'refer a friend' to encourage word of mouth promotion from our existing customer base.
Alongside customer acquisition focussed marketing we'll be using PR, social media, brand collaborations and video content to build awareness of our brand and make a deeper connection with our customers.
Current options in the market are minimal and those that exist, we believe, are mostly all lacking in either flavour, nutrition or quality. Our product range will sit well alongside existing high-quality, non-vegan meal ranges offering customers a plant-based choice, without compromising on these important elements.
At present, the best offerings in the plant-based convenience food space aren't available from traditional retail outlets and so consumers are used to having to order online, from bespoke websites, meaning they won't need to change their buying habit to order from The Brook.
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