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EAT GRUB

Grub is a UK based food company that promotes the benefits of eating insects by selling products, putting on events and through publishing. Our vision is of a world where insects are valued as the incredibly tasty, nutritious and sustainable food source they are.

THE IDEA
Products & Services

We have a successful portfolio of products, a recognised and credible brand presence, experience with hosting events and ongoing strategic partnerships that help to raise our profile and awareness of eating insects. Our Eat Grub bar made with cricket powder is our flagship FMCG product. We are currently stocked by Planet Organic, Ocado, Google's Offices and many independents. In addition, we are currently in discussions with Waitrose and Holland and Barratt. We also have a partnership with The Economist who have co-branded a special run of 10,000 bars.

Problem Solved

People are becoming more aware of the collective strain we are placing on our planet as we look for high protein diets. The way we are currently consuming meat is unsustainable and consumers are looking to have less of an impact while still maintaining a healthy and balanced lifestyle. Eat Grub feels it has the solution, one that's been around throughout the evolution of humans: eating insects. The majority of the world eats and enjoys insects, but not here in the West - where we are the biggest consumers of unsustainable protein. Eat Grub aims to get people in the West loving insects for the tasty, nutritious and sustainable food they are.

Revenue Model

We currently have three income streams: products, events, and publishing. Products are our biggest revenue generator and for this stream, we have several different routes to market including direct to retailer, through wholesalers, and via ecommerce direct to customers. We are already supplying big retailers like Planet Organic and Ocado through wholesalers, coffee shops directly, and are growing our online shop's revenue each quarter. Grub started by hosting sell out pop-ups and we continue to hold events, including cookery classes, corporate catering and private dining. This is an area that can be grown with investment. Finally, we wrote the first insect cookbook which launched this year.

Exit Strategy

Our exit strategy for investors is simple - within five years’ time, we hope your investment:
1. To have doubled and have the potential to be returned via dividends, or 2. Eat Grub is sold*, with the potential for a return greater than double the initial investment. (*Based on selling at EBITDA multiple of profit of between 7, which is average within the F&B sector)

Minimum Target £ 200,000 Maximum Target £ 250,000 Minimum Investment £ 10,000 Maximum Investment £ 250,000
Share On Website Visit site Location LONDON
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The Idea

Products & Services

We have a successful portfolio of products, a recognised and credible brand presence, experience with hosting events and ongoing strategic partnerships that help to raise our profile and awareness of eating insects. Our Eat Grub bar made with cricket powder is our flagship FMCG product. We are currently stocked by Planet Organic, Ocado, Google's Offices and many independents. In addition, we are currently in discussions with Waitrose and Holland and Barratt. We also have a partnership with The Economist who have co-branded a special run of 10,000 bars.

Problem Solved

People are becoming more aware of the collective strain we are placing on our planet as we look for high protein diets. The way we are currently consuming meat is unsustainable and consumers are looking to have less of an impact while still maintaining a healthy and balanced lifestyle. Eat Grub feels it has the solution, one that's been around throughout the evolution of humans: eating insects. The majority of the world eats and enjoys insects, but not here in the West - where we are the biggest consumers of unsustainable protein. Eat Grub aims to get people in the West loving insects for the tasty, nutritious and sustainable food they are.

Revenue Model

We currently have three income streams: products, events, and publishing. Products are our biggest revenue generator and for this stream, we have several different routes to market including direct to retailer, through wholesalers, and via ecommerce direct to customers. We are already supplying big retailers like Planet Organic and Ocado through wholesalers, coffee shops directly, and are growing our online shop's revenue each quarter. Grub started by hosting sell out pop-ups and we continue to hold events, including cookery classes, corporate catering and private dining. This is an area that can be grown with investment. Finally, we wrote the first insect cookbook which launched this year.

Exit Strategy

Our exit strategy for investors is simple - within five years’ time, we hope your investment:
1. To have doubled and have the potential to be returned via dividends, or 2. Eat Grub is sold*, with the potential for a return greater than double the initial investment. (*Based on selling at EBITDA multiple of profit of between 7, which is average within the F&B sector)

The Market

Market & Competition

Our market is generally B2C but we also provide raw ingredients direct to business - for example, restaurants like Wahaca and the Fat Duck of Bray. We are currently working with a number of wholesalers who supply direct to retailers and we sell direct to independents and the general public via our online shop. There are a couple of companies selling insect based products, but Grub has the biggest brand recognition and retailers on board. Our bars are competing with similar energy bars like Bounce and Primal Pantry, and we have bench marked our pricing to be competitive with these. Obviously, our point of difference is the fact that we are using a super and sustainable ingredient: insects.

Funding Details

The insect-eating market is set to be worth £230 million in the next five years. We have played a large part of growing this burgeoning sector and we aim to continue this momentum. In order to grow the business and build the brand, we are now looking for seed investment of £250,000. In return, we will be offering a total of 20% equity stake in our business. We will need support in helping us to accelerate growth by investing in people, marketing, products and operations.

This pitch will only be able to close if it hits its minimum target. If it does hit its minimum target, it will then fund until it hits its maximum target or until the pitch end date, whichever comes first.

Other Info

A key part of our business is to grow the awareness and acceptance of eating insects - and in order to do this, we have sought strategic partnerships to help give us credibility. The Economist sponsored our launch of the Eat Grub bars and continue to purchase their own special edition co-branded bar. We also have an ongoing relationship with Ogilvy and JCDecaux who have provided us with free creative and marketing support, including free billboard media space across London in 2016.

New Shareholder Agreement loaded 17/1/2017.

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