Crowdfunding campaign dips in to boost growth for fun foodies
Crowdfunding campaign dips in to boost growth
By Grimsby Telegraph | Posted: 9 May 2017
FANCY dipping into the food industry with some finance?
One of the Grimsby-area's most imaginative and ambitious companies is on the expansion trail, and has turned to crowdfunding in order to secure the required investment.
The Dip Society was formed by friends Claire Ollard and Helen Boyle, having met at a mutual pal's wedding, and discovered a passion for produce over canapes and fizz.
They quickly set up in a converted barn at a family-owned Wold Newton farm, where new dip development and initial batch processing was established.
Helen Boyle (left) and Claire Ollard own the Dip Society who make a range of dips and are based out at Wold Newton
Now, having ramped up a business that sells through the likes of Ocado, Selfridges, Booths and Lincolnshire Co-op – outsourcing manufacture to Scunthorpe in order to meet the scale required – they are on the hunt for a £300,000 investment.
Helen said: "We have really had our heads down this year. We had the first round of investment secured last April, as it was getting to the point where we needed outside backing to help us do everything.
"It has helped us build some fantastic foundations, and we have had some fantastic new listings, with Budgens just listing us.
"There was lots of exciting stuff last year about getting ourselves set again, building a new website and updating the brand."
Now the six-year-old business is moving on again, with the playful promotional video featuring Dawn O'Porter still firmly embedded in the minds of many from Valentine's Day 2015.
"We decided to go via the crowdfunding route as it is such a good way in terms of seeking investment from people who can't necessarily invest a huge amount but want to get on board," Helen said.
"From a marketing perspective and visibility perspective too, it also helps keep a new brand in the public eye."
Only just launched on platform Seedrs.com, at the time of going to print £82,000 had already been pledged.
"This will really allow us to continue to grow in the way we want to," she said.
"We started off from scratch with a love of products, then getting outside investment led us to setting an investment plan which we want to achieve and go forward.
"We are putting everything back in for growth at present.
"If you want to grow and grow quickly, you need to support the growth. From tooling to distribution, it all gets incredibly technical."
The team has just invested in a new machine to cut labour costs to put a film on pots, which are now being branded as they realised once the cardboard sleeve was removed the identity was lost – if not the taste.
"We are putting it out to friends and family, high net worth individuals in the Lincolnshire food sector."
Helen added. "We have got some real interest. Our current investors are supporting us all the way too."