The Food Entrepreneurs Journey
So Peggy has always dreamed about creating an upscale specialty frozen gelato... no one makes it better than she. Enlisting her husband and sister to help her experiment in her kitchen she creates the BEST gelato... and her friends love it. BUT she can't work in her kitchen so she invests her savings and some from family into shiny new production equipment and superb packaging. She gets a few local stores to carry her product and even gets Whole Foods to give her space on the shelf! Wow!!
Can You Introduce Me To Investors?
She call and asks "I need more capital to grow, so can you introduce me to investors and retail grocery buyers?". Ughh! Sadly most new and early stage food companies just don't get it and I get this type of call several times a week. My colleague Ryan Caldbeck, founder of CircleUp founded the company for many reasons and one is "...insufficient investor interest in sub-$10 million consumer products businesses".
So this is where Crowdfunding comes in to accelerate early stage food businesses.
Three Flavors of Crowdfunding
Donation based platforms, like ProHatch, match investors to companies that offer a reward in exchange for their investment
Lending based platforms like SoMoLend that match investors who want to lend money to companies willing to borrow.
Equity based platforms like CircleUp that match investors who want to invest in exchange for an ownership piece of the company seeking the investment.
Four Food Companies Raise $5 Million at Circleup
Equity based Crowdfunding from CircleUp seeks consumer companies that have revenue in the plus $1 Million range.
So here are the stories of 4 Food Entrepreneurs Funded by Circleup to give you some inspiration that you can fund your business via the crowd. Part 2 covers Melt Organics and Rhythm Foods experience with Crowdfuinding .
Are You Ready to Pitch Your Business?
I have an in-depth client survey for my consulting business that I have distilled to a "one-pager" here for you to use as a guide. Try writing up your one-pager by reviewing Do you know how to pitch investors or retail supermarket buyers?
If you think you have a compelling pitch, send it to me and maybe I can publish it in my Small Business Pitches section and offer suggestions in a blog post. Check out the Ice Syrup Business Pitch and My Comments similar to