There were several elements that immediately presented themselves as being attractive to investors. It firstly met our criteria of being a socially conscious business, plus the thematic around supporting a community of cooks and the high quality of food they produce from their special recipes. We were also very impressed by the commitment of the founders – people are everything!
We like businesses that can demonstrate an ‘hourglass’ model – by that we mean little to no concentration at both the customer and supplier level. Customer and/or vendor dependency is to be avoided in most circumstances.
We also like large addressable markets – the grocery/restaurant replacement market in Australia is massive. The existence of large players demonstrates the ability for consumers to engage – so we are actually encouraged by that rather than being put off.
Our immediate goals with the investment capital is to tweak a few ‘house-keeping’ matters such as working capital, inventory management and premises. Then we can confidently focus on growth via customer acquisition and/or partnerships.
FoodSt is Australia’s leading platform for home-cooked food. They enable qualified home cooks to earn an income cooking from home, whilst improving access to healthier and tastier convenience food options.
Their network of cooks prepare their favourite family recipes with fresh ingredients in small batches, before meals are quickly frozen and stored in their central HQ. FoodSt provides business, logistics and delivery services and markets all the meals on their platform FoodSt.com.au.
This small batch approach ensures for a high quality, great tasting range of meals that are also diverse and sought after by our loyal customer base.
Customers visit the online store to pick and choose from our menu of over 100+ items and delivery is across Sydney and surrounds twice a week.
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