The London Crisp Co.
- Investment sought:
- Equity offered:
On the table is the opportunity to invest in not one, but two awesome snack brands: The London Crisp Co. and Awfully Posh (http://www.awfullyposhsnacks.com/). Both brands have already secured major national listings with the likes of Waitrose, Ocado, Whistlestop, Amazon and Fuller’s. And both are now primed for takeoff.
The Awfully Posh brand is about the finer things in life. It is about shunning nasty, needless ingredients and about making delicious products. The current product range consists of two flavours of pork crackling and biltong. We plan to extensively grow the product range over the next 2 years.
The London Crisp Co. (http://londoncrispco.com) is a fantastic new brand that has been created to really shake up the handcooked crisp market. The stylish designs encapsulate what is cool about London. The great tasting crisps are lovingly made in London, by Londoners, for anyone that loves London. The brand is about being cool, urban and different.
Substantial accomplishments to date
- The first pork snack to win a Gold Great Taste Award
- Achieved national listings with Waitrose, Ocado, Whistlestop and Amazon
- Fantastic press coverage (including the Daily Mail, Evening Standard, Daily Mirror)
- Currently generating average monthly revenues in excess of £10,000
- Agreed exciting deal to export products to Australia
The London Crisp Co.:
- From 15th June, the London Crisp Co. will be available in Fuller's pubs throughout London
- In talks with Waitrose, Tesco and Sainsbury's about listing The London Crisp Co. in their stores
- Currently tendering for a groundbreaking British Airways contract
We have implemented a very simple, low overhead and lean capital business model. Rather than needlessly hire administrative and accounting staff, we have partnered with an experienced third party to handle our 'back office' in its entirety. This party holds the stock, processes the orders, and does the invoicing and cash collection. This cost-effective solution saves us the overheads of hiring staff, and most importantly allows the team to concentrate on growing our brands rapidly and generating a brilliant pipeline of new products.
Use of proceeds
- We've hired a Sales Director to focus on sales to catapult the company forward.
We have found the perfect individual; with 15 years experience in the industry, he has a proven track record of achieving superb results with up-and-coming food and drink brands.
- To promote and market our growing brands.
Securing listings with major multiples is not easy and takes time. Our successes over the past year have been achieved with a limited budget. With strong relationships now established with big players, the capital raised would enable us to really drive our brands forward.
- To fund New Product Development.
We have great ideas for new products and new brands. An investment made now includes all our future products and brands.
We believe everyone loves a great snack. So ultimately, our target market is anyone who likes their food to taste great, but wants it made properly. Our research revealed that more and more consumers really care about the ingredients that go into food, and want to avoid horrible artificial things like MSG (which is why we never use it in any of our products).
There is little doubt that, despite appeals for healthier lifestyles, the UK has an insatiable appetite for savoury snacks. However, we believe that you do not need to compromise on the ingredients and production processes to deliver great tasting snacks. For example, our Sea Salt crackling is the first pork snack to win a Gold Great Taste Award, yet it is made with just two ingredients, contains zero carbohydrates and is high in unsaturated fat (which is good for you because it contains omega fatty acids). Of course, all snacks should be consumed as part of a balanced diet. We believe that our snacks beat the competition hands down when it comes to the purity and simplicity of our ingredients.
Our key target demographic is 18-40 ABC consumers, who care about what they eat, but still want it to taste great. We see them as part of the Highly Affluent, Wealth Achievers and Urban Prosperity groups. Our brands are cool and fun and are targeted at young professionals and families who feel the same way.
Characteristics of target market
- The UK has munched through 9.1bn packs of crisps, nuts and snacks in the past year, a year on year rise of 1% that has raised the value of the category by 2.6% to £2.8bn.
- Potato chips and crisps are the largest segment within the UK snack market, representing 42 per cent of the total.
The European snack market is worth £12.7 billion.
We have assembled a strong portfolio of brands, with lots of great new product development and new brands in the pipeline. For example, with UK sales up 38.1% to £87m in the past year, popcorn is high on our priority list.
1. Multiple retail.
We currently deal with Waitrose and Ocado and are in discussions with Tesco on a deal for The London Crisp Co. Despite being challenged by the discounters, the Big 4 grocers (Tesco, Sainsbury's, Asda, Morrison) command 73% of the total UK grocery market, and they are our biggest target.
Our growth plans for the on-trade would concentrate on expanding our product range (to popcorn and nuts). And our recent deal with Fuller’s proves we are on the right path.
3. Independent trade.
London and the UK is full of great independent farm shops, delis, coffee shops and food halls. We already deal with a good number of them, but there are plenty out there we do not deal with. We intend to work with a select number of key wholesalers and distributors to tap into the lucrative London catering and food-on-the-go market, and also intend to hire someone to focus exclusively on building strong relationships with key independent accounts.
The London Crisp Co.:
- There is a plethora of regional crisps brands in the UK, most of which seem to lack focus and trade in small regional markets.
- As London’s only London-named crisp brand, we believe we have a massive advantage over our competitors when it comes to trying to win over London's 8 million plus population. Our crisps are made in London, by Londoners, for Londoners.
- Given its status as one of the leading capitals of the world, and just 3 years after the 2012 Olympics, which British crisp brand will be able to compete in the global market with the London Crisp Co.?
- We compete at the high end, super premium sector of the food and drink market and ensure that our products taste great, as proved by being the first pork snack to win a Gold Great Taste Award.
- We shun artificial ingredients and use the purest, simplest ingredients to make great tasting products. For example, our Anglesey Sea Salt Crackling contains just two ingredients: pork and sea salt.
- We use bold colours and simple iconography to ensure our products have an excellent shelf edge presence.