Our first business venture - The Red House

[Martini1991]

Absolutely gutting to read your latest update after seeing your hopes for the housing estate

 

[The_Abyss]

Very sorry to hear this. It seemed like there was some opportunity here, and you certainly put a lot of heart, soul and effort into it. I enjoyed the journey, and a little bit of me was hoping to pop by in 3 years time.

 

[SixTwoSix]

@wez130 what's the latest on this? Was absolutely routing for you since you started the thread.

 

[ultralaser]

Just another voice of sympathy to add to the chorus, it was really enjoyable and exciting to read about your endevour I'm sorry to hear it went this way, but chin up you did a lot for your community and hope whatever you do next is a success

 

[wez130]

We were always fighting a losing battle in the last year, Covid inadvertently finished us off. I'm currently working part time again as a chef but I do have other ideas, one being a competitor to HelloFresh but with my USP being supporting and using local businesses and suppliers all over NZ. It's just a pipe dream at the moment though, could use some support, knowledge and investment to build a business plan and work out the logistics of it all. Already come up with a name though and currently playing with a logo, though it definitely needs work.

 

[[FnG]magnolia]

You're not going to dislodge My Food Bag and Hello Fresh for national coverage but I can see a buy local/support local angle working. Investment will be key, as you mention. Best of luck with whatever comes next

 

[Hades]

Sorry to hear you went under. But the best of luck with the latest venture.

 

[Russinating]

We were always fighting a losing battle in the last year, Covid inadvertently finished us off. I'm currently working part time again as a chef but I do have other ideas, one being a competitor to HelloFresh but with my USP being supporting and using local businesses and suppliers all over NZ. It's just a pipe dream at the moment though, could use some support, knowledge and investment to build a business plan and work out the logistics of it all. Already come up with a name though and currently playing with a logo, though it definitely needs work.

Please take this as advice but at points it's seemed like you like the idea of owning a business more than the reality of running a business. Playing with a logo for example is so not important at this stage, and too important for you to be doing; most slide decks and original pitch docs I've seen for companies which are now household names don't have a name or any branding. The only exception that I've seen being Airbnb because of how it started, but even their branding was non-existent from memory. The first chunk of investment, say £50-100,000+, is always side-lined for brand development, audience and competitor research, etc. Now you're going to say you're just playing and you enjoy it, but that's almost the point. You're obviously a visual person, being a chef, and playing with logos is fine, but that's a hobby, not a business. I remember it's how The Red House started too; you posted in graphics first asking about logos etc way before this thread.

My advice is to do a proper business plan, all in a standard font, no branding, business just called "HelloFresh but local suppliers".

Also almost any online/ecommerce company these days is a data company. Even Timo Boldt who set up Gousto says "we are a data company that happens to trade in food". If your interest is food (obviously) it'll quickly become very little to do with food!

 

[Pneumonic]

Please take this as advice but at points it's seemed like you like the idea of owning a business more than the reality of running a business. Playing with a logo for example is so not important at this stage, and too important for you to be doing; most slide decks and original pitch docs I've seen for companies which are now household names don't have a name or any branding. The only exception that I've seen being Airbnb because of how it started, but even their branding was non-existent from memory. The first chunk of investment, say £50-100,000+, is always side-lined for brand development, audience and competitor research, etc. Now you're going to say you're just playing and you enjoy it, but that's almost the point. You're obviously a visual person, being a chef, and playing with logos is fine, but that's a hobby, not a business. I remember it's how The Red House started too; you posted in graphics first asking about logos etc way before this thread.

My advice is to do a proper business plan, all in a standard font, no branding, business just called "HelloFresh but local suppliers".

Also almost any online/ecommerce company these days is a data company. Even Timo Boldt who set up Gousto says "we are a data company that happens to trade in food". If your interest is food (obviously) it'll quickly become very little to do with food!

Good advice here..

Would also suggest you need to identify a pain that the end customer suffers.. you have come to a solution without understanding the problem.. often start ups will go through a number of iterations in terms of the exact pain they are trying to address.. proposing a hypothesis, doing the research, testing, iterating.. look up Lean Business Canvas to help you get started with the more detailed business plan..

- they ask yourself
Is you're product / idea defensible.. no one will invest if an existing player can easily copy or offer the same service in a reasonable time-frame and price point.
Is you're product / idea scaleable.. again an inverter needs to see this is more than a project or a hobby its a proper business idea that will generate a return on investment.
Does you're product / idea require educating customer.. if it does drop it.. educating a market is always, always expensive and full of pitfalls.

 

[Jimbeam3678]

Both posts above offering great advice

 

[[FnG]magnolia]

Hey @wez130

Solid advice from the chaps @Russinating and @Pneumonic

Keep us up to date with your plans