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Modern Persian Kitchen

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From our family to yours: delivering Persian food nationwide

116%
 - 
Funded 14 Jan 2022
£75,004 target
£88,003 from 159 investors
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Business overview

Location Stockton, United Kingdom
Social media
Website modernpersiankitchen.co.uk/
Sectors Food & Beverage Mixed Digital/Non-Digital B2C
Company number 11888544
Incorporation date 18 Mar 2019
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Investment summary

Type Equity
Valuation (pre-money) £1.2M
Equity offered 6.81%
Tax relief

EIS

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Business highlights

  • 452% revenue growth from 1st to 2nd year of trade
  • Over 21,500 meals sold since launching in 2019
  • Built a global network of over 14k social media followers
  • 95% 5-star excellent ratings on Trustpilot.com
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Key features

  • Secondary Market
  • Nominee investment min. £11.97 +

Idea

Introduction

Modern Persian Kitchen is a family-founded Persian food company, creating modern twists on traditional recipes for everyone to enjoy.

Through our online offering, chef-made meals are sent directly to customers, allowing them to experience delicious Persian food from home. Dishes are based around hearty flavour combinations and are packed full of nutritional goodness. We deliver a high quality product, in eco-friendly packaging, for a cost effective price.

We created our company to celebrate Persian cuisine. Since launching in 2019, we’ve been on a mission to champion Persian food and culture within the UK, while creating a community of Persian food lovers and advocates: something which grows daily through the sharing of our recipes, cooking tips and Q&As on social media.

Building a network of owners is our way of bringing you into our family and along for the journey with Modern Persian Kitchen as we strive towards becoming the nation’s go-to brand for Persian food.

Substantial accomplishments to date

April 2019: Launched modernpersiankitchen.com to deliver meals nationwide

July 2019: Featured in Red Magazine (readership over 830k a month)

Oct 2019: Hosted sell-out supper club at Benk & Bo, Shoreditch

April 2020: Live interview on BBC News Iran about work with NHS on free meal donations throughout COVID-19

May 2020: Featured on Persian TV station Manoto (viewership of 25 million people) with a mini-series on our family business

June 2020: Chef Shary takes part in interview by Shirin Tahanan for Persian Food Tours

Sept 2020: Created #PersianFoodLoveStories series (as a series has over 60k views to date)

Oct/Nov 2020: Significant NPD - Launched a range of 5 starters and 9 Persian-flavoured brownies, alongside a gift box selection and meal pack bundles such as Date Night, 3 Course Meal and Birthday boxes.

Dec 2020: Catered for a Virtual Supper Club private event, sending 40 guests a 3-course Persian Christmas meal

Feb 2021: Launched our exclusive Persian New Year (Nowruz) package

March 2021: Brought together videos from our global community to celebrate and raise awareness of Persian New Year (Nowruz)

April 2021: 452% increase in revenue sales Y1 to Y2 of trade*

Summer 2021: Launched summer BBQ package with fresh salads and marinades

Oct 2021: Renowned American/Persian Fox 5 News presenter Shally Zomorodi takes part in our #PersianFoodLoveStories

2021 to date: Created a highly engaged community of over 1,350 customers with over 14k followers on our social platforms

*Source: unaudited management accounts

Monetisation strategy

The current market situation puts us in the perfect position to grow. 86% of UK adults eat ready meals or ready-to-cook foods with the UK food-to-go sector predicted to be worth £23.4 billion by 2024. However, 72% of UK adults are looking for healthier food options with less salt, fat and sugar, but are lacking in time to cook from scratch. We can deliver all of this.

We generate revenue from customers purchasing meals, meal boxes or gift packages from modernpersiankitchen.com. Those who have tasted our meals rate us highly, with 4.9 star average rating on Trustpilot.

Future plans will enable an expansion in offerings and revenue streams:

- Recipe kits and live cook-alongs

- Brand partnerships

- Wholesale to small independents

- Cooking classes

- Supper clubs

- Events and catering

- Cookbooks

- Appear on delivery platforms

In addition to our meals, we’ve just launched a pantry goods selection with spice blends, dry ingredients and gift hampers.

Use of proceeds

We’ve got a great range of products which our customers love and are now focused on upscaling the operation, hiring key members of staff and adding additional revenue streams to expand our offering further.

Investing in our kitchen, staff and production will help us scale (48%): Expanding our current kitchen to allow for walk-in freezer, packaging / storage space, future relocation costs, purchasing of additional equipment and hiring kitchen staff, an admin assistant and bookkeeper.

Targeted advertising, PR and digital marketing will help us be seen (40%): Digital campaigns, dedicated PR, an injection into Google Ads, building on SEO, advertising on food & family based podcasts, paid product placements and an increase in Facebook and Instagram advertising.

Enhancing our brand and expanding our knowledge will improve our offering (12%): New product development, packaging / brand development, referral and loyalty schemes and business mentorship (which could be through an investor).

Investor Perks

Key information

Outstanding loans

Please note the company has an outstanding bounce back loan of £47,083 from Yorkshire Bank accruing interest of 2.5% per year with a maturity date of June 2025.

The funds raised as part of this round will not be used to repay this loan.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £1,197,000

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

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Nominee investment

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

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