Flippa
FOR SALE
Business Name

The Prep Kitchen

Business Model
e-Commerce
Industry
Food and Drink

$99,999

Asking Price
Multiple 2.1x
The Prep Kitchen is a meal kit subscription service delivering fresh, healthy and personalized ready-to-eat meals every week.
This business owner has manually entered their financials

Facts and Figures

Location
Canada
Date of Founding
2016
Full-Time Staff
1 to 10
Annual Revenue
$112,219
Annual Expenses
$65,174
Annual Net Profit
$47,045
Profit and Loss
Evidence of Revenue
Note: Where the business is less than 12 months old the annualized data represents total sales for the period of operation.

Recent Performance

Month February 2019 March 2019 April 2019
Revenue $7,429 $6,374 $8,872
Expenses $4,132 $3,464 $4,533
Net Profit $3,297 $2,910 $4,339

Business Description

We are a Canadian meal and ingredient plus recipe meal kit service delivering ready-to-eat meal solutions every week across the country.

We operate an internet platform that provides customers the choice between various kinds of diets and recipes to be delivered every week.

How does your business make money?

We sell ready-to-eat meals via subscriptions that auto-renew every week.

Why should someone buy this business?

The Prep Kitchen is a fully functional company that has been profitable since the first year.

This company comes with over 500 recipes catered to specialty diets like Keto, Paleo, Vegan, Vegetarian as well as our algorithm for meals to serve based on the time of year and availability of ingredients which keeps the operating costs as low as possible.

Our average price per subscription is $135/week while our CPA is about $8.

We help households across the country experience the joy of culinary experiences at home through our ready to eat meals and meal kit offerings. We have over 1000 repeat customers and a 5 star rating on Google and Facebook.

Our company has an established foothold in a marketplace with tremendous growth in the last few years versus traditional channels.

Over 25% of households polled have or would be willing to subscribe to a meal plan online.

Our primary revenue comes from subscriptions within the province of British Columbia.

How can the future owner improve this business?

Marketing. Someone with a solid background in digital marketing could grow this business significantly. Our current cost per acquisition is ~ $8 per new subscriber.

Grocery Retail Penetration. Leveraging the brand, product expertise and influencer strategy to enter new channels such as meal kits and products in brick and mortar grocery chains.

In addition, launching brand partnerships with established or locally recognizable companies would improve customer experience with our service.

Why are you selling this business?

This business was founded through a partnership that has since been dissolved.

Business Strengths

  • Customer Service
  • High levels of Automation
  • Lots of Repeat Customers
  • Scalable Business Model
  • Turn-key Operations

Opportunities for a new owner

  • Capitalise on the Emerging Market
  • Improve Current Marketing Efforts
  • Advance or Explore Retail / Distribution Partnerships

Key day-to-day operations

  • Managing Staff
  • Bookkeeping
  • Design & Production
  • Content marketing
  • Adwords Maintenance

Marketing

  • Affiliate Marketing
  • Email Marketing
  • Influencer Marketing

Assets

  • Brand assets
  • Customer databases
  • Domains
  • Hosting accounts
  • Inventory on hand or on order at the time of closing
  • Marketing materials and collateral
  • Policy and Process documents
  • Registered trademarks
  • Relevant email accounts
  • Social media accounts
  • Website files, source code and content
  • e-Commerce platform accounts
  • Google Adwords

Social Media

Facebook
1.7K followers
Twitter
25 followers
Instagram
800 followers

Post sale support

This is support provided by the seller when transitioning the business to a buyer.

Included

About the Seller

Matt Francis

Canada

Hi, I'm Matt. I work in engineering and technology and graduated from the University of Victoria in 2014 with a degree in both Biology and Computer Science. Since graduating, I have enjoyed success in the startup space and have worked with some great individuals and companies.

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