A Kit Made for Success

In this post, we are going to examine the challenge, solution, and results of GrowthLab’s work with an up and coming company.

During this time period, GrowthLab worked with a serial entrepreneur in a new industry, who developed a healthy passion into the next, new, hot, startup in the meal kit business. They turned to GrowthLab for business modeling and capital raising.

Challenge

In 2014, we had the opportunity to connect with the founder of a new company who had the vision to combine healthy meals with convenience. He had many pieces in place to get the business started, but reached out to us to help him navigate the best way to turn his idea into a viable business. The biggest challenges the new company was facing was raising capital, finding the right market, and having a plan in place to scale to a production facility once the business gained traction.

Solution

The first step was to define their business strategy and revenue model. This included solving the product build, refining the pricing structure, and how the product was going to get made, in addition to determining a people strategy and financial and accounting management. Working with the CEO and COO, we collaboratively built a business model that translated their vision into a solid financial pro-forma to give them a foundation to raise capital. We then focused on raising venture capital, creating investor materials, and seeking out the right people to invest in the company.

Once investors were secured, we helped them overcome the challenges of breaking into a market by navigating pricing structure and customer acquisition costs, as well as managing their investors. As they were able to find their market niche, we helped them develop a plan to scale their production strategy.

Results

Over the two years we partnered with the management team, they secured the funding and investors they needed and the company is still growing today. They achieved a scale that can produce the product quantities that meet their customers growing demands and they have the right people in place to run smoothly. They now report $10MM+ in revenue and have over 20 employees.

We worked with them closely for two years until they had the scale and financial ability to hire their own internal executive management team. We absolutely loved our time with this company and we’re honored to be at the ground level with them.

If this resonates with your business and growth plans, let’s chat! You can also find our more information HERE.