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Saint Aymes

Platform:
Crowdcube
Stage:
Expansion
Industry:
Food & Drink
Location:
UK - London
Date Rated:
12/10/17
Raise:
£70,000
Equity:
7%
Valuation (Pre Money):
£930,000
Industry: Food & Drink
Location: UK - London
Platform: Crowdcube
£70,000 Expansion
Valuation: £1,000,000
Date Rated: 10/10/17

MANAGEMENT

PRODUCT

INVESTMENT
Tax Status: EIS

Business Summary

Saint Aymes is a luxury chocolate brand aiming to disrupt the market with handmade and hand gilded chocolates. Saint Aymes is already stocked in Selfridges, Harvey Nichols and Fenwick but also in independent boutiques within the UK and Europe. This round of investment will be used to fund the marketing campaign.

Financial Overview

Date (y/e) Dec-18 Dec-19 Dec-20
Sales Dec-18£380,000 Dec-19£602,500 Dec-20£1,159,000
Gross Profit Dec-18- Dec-19- Dec-20-
GP as % sales Dec-18- Dec-19- Dec-20-
Overheads Dec-18£276,404 Dec-19£494,565 Dec-20£630,641
Operating Profit Dec-18£103,596 Dec-19£107,935 Dec-20£528,359
OP as % sales Dec-1827% Dec-1918% Dec-2046%
Closing Cash Dec-18- Dec-19- Dec-20-

Note: This financial information has been sourced from the company on 10/10/2017. Financial data is NOT verified by Wheatfromchaff Ltd.
48%
SKILLS:
EXPERIENCE:
COMMITMENT:
Although the Founders have shown sufficient marketing and product development skills to date, the company could be over dependent on the two sisters who are still not full-time.
An experienced advisor is supporting the Founders but Saint Aymes is their first venture and they have limited commercial and managerial experience.
Although limited time has been expended to date and the Founders appear to be part-time, they have invested over £57k into the business and they are not paying themselves salaries.
51%
MARKET:
PRODUCT:
COMPETITION:
The UK confectionery market is expected to be worth over £6bn by 2019. Luxury chocolate however only accounts for about 18% of the £631m total chocolate market in the UK.
There are no customer testimonials but three of the major retailers have agreed to stock the product and the TV exposure could rapidly increase its brand awareness.
There is some significant established competition, however Saint Aymes has designed a unique but affordable product that could give them a beach-head in the luxury segment.
47%
PROFITABILITY:
CASHFLOW:
RETURNS:
Given the planned marketing spend and the potential uplift from prime time ITV, sales projections seem achievable and this could lead to rapid improvement in the company's profit margins.
There is insufficient information available to fairly rate this aspect of the business
Given the current valuation that is mainly based on the three-year forecast, investors should only expect reasonable returns if the team can deliver the company's full potential in that time-frame.


Conclusion

The Founders has done a great job securing three major retailers but they have still a huge challenge ahead building the brand and gaining 100k subscribers within three years without the support of a full management team. The luxury segment is however experiencing strong growth and represents a good market opportunity for Saint Aymes.

Given the stage of the company, further rounds of funding are likely, therefore investors should note that a minimum investment of £10k is required to secure full pre-emption rights.

Related Links

Crowdcube Pitch

www.saintaymes.com

 

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The Ratings we publish have been approved and issued at Financial Promotions in the United Kingdom by Wheatfromchaff in the United Kingdom who is Authorised and Regulated by the Financial Conduct Authority FRN: 751017. Wheatfromchaff Limited registered office is Kilver Court, Kilver Street, Shepton Mallet, Somerset, BA4 5NF and telephone number +44 (0) 1749 347 577. Telephone calls may be recorded. VAT No: 214 0196 49

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