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The Transformation Chef

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On a mission to become the leading sustainable manufacturer of nutritionally designed heat-to-eat meals

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Funded 12 Feb 2022
£125,019 target
£133,067 from 0 investors
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Business overview

Location Thatcham, United Kingdom
Social media
Website thetransformationchef.co.uk
Sectors Food & Beverage Digital Mixed B2B/B2C
Company number 10764796
Incorporation date 11 May 2017
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Investment summary

Type Equity
Valuation (pre-money) £875.2K
Equity offered 12.50%
Tax relief

EIS

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Business highlights

  • Entire range is gluten and dairy free, with no refined sugar
  • £160k+ revenue to date*
  • Re-order rate of 50% within 30 days and Av. order value of £50+
  • Featured in Men’s Health, Tatler, Runners World and MailOnline
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Key features

  • Secondary Market
  • Seedrs nominee min. £17.16 +

Idea

Introduction

Our mission is to become the most sustainable manufacturer of nutritionally designed heat-to-eat frozen meals that are restaurant quality and suitable for both coeliacs and those with an intolerance to dairy. Our range consists of over 30 heat-to-eat frozen meals that are all free-from gluten, dairy and refined sugar. Over 40% are plant-based.

We are aiming to raise £125k at pre-money valuation of £875k, to see us on the next stage in our journey.

The opportunity is huge: the UK ready meal and ready to cook market is worth £3.1 billion, with frozen meals at £444 million. In the next 5 years we aiming for 1% of this market. We have assembled a creative and leadership team to rival the best in the business, from backgrounds as senior buyers with household names, food consultants to high street brands and not forgetting top nutritionist Jenna Hope.

Substantial accomplishments to date

Business Timeline

January 2018: The Transformation Chef launched

January 2019: Featured in Runner’s World

Summer 2019: Featured in Men’s Health

September 2019: Moved from fresh to frozen meals & opened for national delivery

January 2021: Rachel joins the business full time

February 2021: Start working with Karen Green

August 2021: Acquire Mitch’s Kitchen range of meals

September 2021: Chris starts working with the business full time & become members of the British Frozen Food Federation

October 2021: Began working with Copy Club, Raising Partners and Joelson

December 2021: Start journey to Bcorp certification

January 2022: Start Partnership with Climate Care

Key Customer Metrics & Performance

Customer Repeat Rate 52.6% in 30 Days, 70% in 90 days and 76.1% in 180 days

Average Order Value of over £50,

Website traffic up by 144% YTD

2500 social media subscribers

2600 email subscribers

Monetisation strategy

Our main focus will continue to be our D2C channel, enhancing the customer journey as we go and driving our newly available subscription model.

Retail options will be also be targeted - farm-shops, health-food outlets and independent retailers in either own-brand freezers or within retailer units. We will also continue to look at the rising market-place that is on-demand retail and we recently pitched to Gorillas.

Free-from food options for food service will also be targeted, with these options left wanting in many food service environments, that are currently over 25% under-staffed.

Export options will also be created - 20% of our website traffic come from abroad, including the USA.

Use of proceeds

We’re looking to raise £125k. With our own production facility already in place, we will divert these funds into four key areas:

Team (£45k) - bolstering the operations and production team to manage increased production and fulfilment demand

Marketing (£40k) - creating and implementing a best in class marketing strategy combined with targeted PR

Campaigns (£15k) - social ads at all levels of the targeted funnel, Google ad words for outreach and working with micro-influencer's to create a social boom

Equipment (£25k) - Increasing frozen storage space and packaging capability to ensure increased volumes can easily be satisfied

Key Information

The company has the following outstanding loans:

1. £40,701 loan from the Founders at with no interest rate. The loan is to begin repayments starting December 2022 and ending December 2024.

2. £29,486 loan from Barclays at an interest rate of 2.5% per annum. The loan being repaid monthly at £532 until December 2026.

The funds raised from this investment round will not be used to repay these loans.

*Based on unaudited management accounts

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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.

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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 £875,160

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

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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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