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Mr. Singh's

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We are a family brand from East London. Our Chilli Crisps are a hit and we have demand for new flavours!

100%
 - 
Funded 29 Mar 2019
£49,731 target
£52,437 from 292 investors
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Business overview

Location London, United Kingdom
Social media
Website www.mrsinghssauce.co.uk/
Sectors Food & Beverage Non-Digital Mixed B2B/B2C
Company number 07897557
Incorporation date 4 Jan 2012
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Investment summary

Type Equity
Valuation (pre-money) £1.3M
Equity offered 3.60%
Tax relief

EIS

Idea

Introduction.

We believe Britain will forever love crisps.

Despite the wave of alternative and healthier options on the market, the humble crisp is still the most loved and number 1 snack in the UK with a market value of over £1.1bn with no sign of this love affair ever ending.

Mr Singhs is a family business which started from a shed in East London. We make all natural, 100% Vegan, Chilli sauces ranked No.1 in the country by the Metro newspaper, an award-winning cooking paste and outrageously tasty Chilli crisps.

In November 2017 we launched our hand cooked, Vegan and all natural Chilli Crisps. They were an instant success for us, contributing over 64% YTD sales. Today, they are available in over 200 independent pubs and shops, WHSmith’s and Ocado. Due to this success, we are pivoting to focus on snacks with sauces and pastes selling in the background, mainly to export clients.

Intended impact.

We have a demand for new flavours of crisps from our 200+ customers (mainly pubs), including WHSmith and Ocado. Additionally, we have received an order for 12,000 units of the new flavours from a Vegan subscription box company in the UK and interest from a company who owns over 300 petrol station shops around the UK. We have an existing demand for new flavours of crisps from our existing customers, including major retailers.

We need to invest in a delivery van for local customers, part-time sales and delivery person and to hire an outsourced telesales team to secure new business nationwide.

Substantial accomplishments to date.

2010 (Mar) - Appeared on BBC 1 TV Show, High Street Dreams.
2013 - Outsourced production of our sauces and cooking paste (3 SKU’s).
2013 - Sauce/Paste = listed with Selfridges, Harvey Nichols and Ocado.
2014 - Sauce/Paste = listed with Tesco and Booths Country.
2015 - listed with Sainsbury's, Asda and independent retailers.
2016 - Complete crowdfunding campaign with Seedrs raising £123,000. We pivot and start development of our Chilli Crisps.
2017 - Launch Sauce/Paste in Kenya, Germany and Hungary.
2017 (Nov) - Launch our Chilli Crisps in two different sizes.
2017 - Our cookbook is published by Pavilion Publishing. Sold in Waterstones, WHSmith, Foyles, Amazon and more.
2017 - The brand becomes fully Vegan.
2017 - Won an award for our Punjabi Cooking Paste and our Hottest Chilli Sauce was ranked #1 Hot Sauce by the Metro Newspaper.
2018 - Launch in 100 Save-On-Foods stores in Canada.
2018 - Launch our cooking paste in Sweden.
2018 - Launch crisps in 300 WHSmith stores from June 18.
2018 - 115,000 social media followers and viral video views.

Monetisation strategy.

Using our existing factory and suppliers we will complete the development of our new flavours and sell them into an existing distribution chain.
- Pubs and local shops.
- Online: Our website and Ocado.
- High Street: WHSmith's and Petro-Retail.

Use of proceeds.

The use of proceeds is as follows:.
- Launch 2-3 new flavours of crisps.
- Buy a delivery van and pay for running costs.
- Hire a part-time sales-person/delivery driver.
- Develop national sales.
- Crisp's specific point of sale marketing.
- Working capital and cash flow.

Mr Singh's have a £15,000 loan and a £2,000 overdraft, both with HSBC. Funds raised from this campaign will not be used to repay these loans.

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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 campaign for Mr. Singh's has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 18 February 2019 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

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 £1,333,426

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.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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