Beans is a tech driven marketplace that connects coffee lovers to the best independent coffee roasters
Business overview
| Location | Bracknell, United Kingdom |
|---|---|
| Social media | |
| Website | beanscoffeeclub.com/ |
| Sectors | Food & Beverage Digital B2C |
| Company number | 11974026 |
| Incorporation date | 1 May 2019 |
Investment summary
Business highlights
- 300% YOY growth (2022-2023), 12 month revenues of £730k*
- Operationally profitable since Sept 2023*
- Low-risk business model; we dont hold stock
- Established partnerships with Currys and DeLonghi
Key features
Pitch
About the Campaign
Beans is on a mission … to help people discover a better coffee experience at home by making freshly roasted coffee accessible to a wider market.
We do this in a number of ways
• Handpicking only the best independent roasters with interesting stories to tell
• Taking the guess work out of knowing which coffees suit people's taste with our intelligent matching system
• Allowing people to buy coffee how and when they like (we aren't JUST a subscription company)
• Ensuring every coffee is freshly roasted and sent direct for the ultimate fresh coffee experience
• Creating inspiring content about making and understanding fresh coffee
We are raising investment to develop our offerings & launch our equipment proposition, tapping into an additional revenue market and taking our business from a coffee subscription proposition to a fresh coffee marketplace targeting a main stream, mass market audience.
Market Opportunity
The DTC ‘fresh coffee’ market is estimated to be worth £500M+, and the coffee equipment is also estimated to be worth £500M, giving a combined market opportunity of over £1 billion.
The at-home coffee market has exploded with more people looking for a café experience in their own kitchen, this is only set to rise with take away coffee prices continuing to rise.
People love trying new coffees but finding good roasters & knowing which coffees are suitable for your taste can be time consuming, complicated & expensive.
Other multi roaster offerings offer limited flexibility & variety.
Traction & Key Accomplishment
Launched in 2019 Beans has enjoyed YOY growth with revenues tripling in 2023 to £650k & 12 month revenues of £730k (Feb 23-Feb 24)*. We have been operationally profitable since Sept 2023.*
In 2023 we developed & launched our own bespoke platform providing unique personalisation & advanced account management functionality. Our members are in complete control of which coffees they receive and when.
We have a low-risk operating model as we don't hold stock (coffees are shipped direct from the roasters) and we are paid in advance for orders meaning a positive cash-flow position.
We offer a mass market proposition; with our singular price point and flexible and convenient deliveries. You can enjoy a freshly roasted coffee matched to your taste from as little as £8.99 per month.
We have established partnerships with retailers & manufacturers including Currys & DeLonghi.
A large customer base: 8K active or paused subscriptions, and 32K reachable customers.
We now have the foundations to focus on driving growth & and maintaining profitability.
In 2023 we raised over £100,000 in a friends & family round.
*based on unaudited management accounts
Team
Richard and Fiona have worked in the coffee industry for 10 years. Having started out opening coffee shops they quickly moved into coffee roasting and had a small independent roasting business based in Ascot, Berkshire, providing locally roasted coffee to restuarants & cafes.
Previously Richards career was as a Product Manager supporting large scale website developments for TFL & Maersk.
Fiona has an established background as Global Design Manager, responsible for brands such as Durex & Scholl.
Recently James Taylor, co-founder of Beer 52 has joined the team to assist with digital acquisition channels.
Business Model
Our marketing strategy comprises of:
- paid acquisition (Meta and Google)
- brand partnerships (Virgin wines, etc)
- recommend a friend (launching soon!)
- micro influencers
- affliates
- retailer partnerships (Currys, DeLonghi etc)
We are uniquely positioned to support retailer partners, ensuring a great coffee experience for customers purchasing espesso machines. Our level of personalisation ensures their customers find a coffee they love and our low entry price point means we can offer free-with promotions.
Use of Funds
The funds from this raise will be used in 2 ways; improve our offering to increase acquisition and retention & recuit a dedicated marketing team.
Planned operational changes:
- increase the roasters available from 20 to 50 & increase the coffees available from 120 to 300
- start selling brewing equipment and accessories tapping into a market size of up to £500m.
- offer increased bag sizes and add additional dispatch days
Investor Perks
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Key Information
Material Debt
The Company has the following outstanding loans:
1. £31,000.00 loan with 11% interest from Stripe, which was taken out in October 2023. The loan is being automatically recouped by the lender, who collect 10% of revenue generated via Stripe.
2. £17,000.00 loan with 21% interest from Maxcap, which was taken out in December 2023. The loan is being repaid in weekly instalments of £540.
3. Directors' loans totalling £86,000 with 0% interest, accrued over the past four years. There are currently no plans to repay these loans and it will not be done until the business is in a position to do so.
The funds raised from this investment round will not be used to repay these loans.
Open an account to get access to the team members of Beans Coffee Club
Already have an account? Log in
To comply with financial regulations, we can only show full campaign details to registered users.
Only shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy sharesOnly shareholders can access this page
If you successfully purchase a share lot of this business, you will be granted access.
Buy shares