We’re One Step Closer to Our Upcycling Facility – August 2023 Investor Update
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Summer is flying by here at Susgrainable. While many people are on vacation, we remain hard at work with more reasons than ever to get the upcycling facility off the ground. Honestly, it feels a little bit like the calm before the storm. The team is firing on all cylinders and back to school/baking season has everyone very excited to unveil everything we’ve been working on. If you want a sneak peek, there are still a few spots left in my calendar 😉
- Marc Wandler, CEO
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⏱️ Do you have 5 minutes to spare? We’ve spent the summer creating a brand-new investor pitch video that is receiving rave reviews. Check it out here!
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👀 I spy with my little eye, Susgrainable on the shelves of your local Whole Foods! Our products have rolled out over the last few weeks. We’d love to see a picture if you’ve found us on your shelves! Marc stirred up some interest at his local location this month—where a stranger purchased after seeing him snapping a Susgrainable shelfie!
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Don’t see us yet?? Chat with your store manager. Our product line should be in the back—we expect to be on all shelves by September!
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📺 Stay tuned: we’re working on something game changing! This month we’ve been busy in meetings with a new LOI partner. The conversations are poised to completely change the landscape of our wholesale business.
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Sales & Marketing Highlights |
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Revenue Update: Profitable by the end of 2024?!? We’re engaged in initial conversations regarding a grant partnership, set to launch after our facility opens. Coles notes: this grant partnership could see us exceed $2 million in revenue in our first year of facility operations!
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We met with our new partners on the Nationwide Sales Team this month. They’re very excited about representing our product—and even shared out the announcement on their social media!
- Our retailer/distributor data room is now live! We’ve created a dedicated data room for our partners to access content about Susgrainable for their physical and digital marketing efforts. The site even includes direct content features, which allow our partners to reach us quickly, when needed.
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We’ve secured the upcycling equipment!
Thanks to the generous support of an anonymous donor, we’ve used a short-term, interest-free loan to complete the purchase before our debt financing arrives. Just a reminder, this early purchase will lead to $1 million+ in savings.
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We’ve been pre-approved by RBC for a $20k line of credit
These funds will enable us to lower some of our debt, including a portion of credit card debt, by 10%. Fun fact: prior to founding Susgrainable, neither Marc nor Clinton had ever carried credit card debt before!
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Note that our metrics slow during the summer months, our focus over the summer is LOIs and we anticipate seeing our store count growing in August/September. |
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We’re preparing for another production run of our pancake and waffle mix!
This production will leave us with a very low flour supply. We’re keen to take advantage of the increased interest in our products, but this supply cycle highlights our need to open our own facility, which would allow us to take advantage of all sales opportunities without compromising our flour supply.
Sadly, these supply constraints have meant we’ve pressed pause on expanding further through Safeway and Thrifty’s. We are also delaying our pursuit of selling through Costco for the time being.
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Great news! Ben and Daija, our sales and marketing interns, have both expressed interest in staying onboard through the fall. They’ll be supporting our efforts while continuing their education through UBC.
- Thanks to the work of our partners at Pocketed, our team is hard at work on several grants that will continue to fund their employment, keeping the Susgrainable team intact for our busy baking season!
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💸 We’re raising $500,000 by August 31, 2023!
To date, we’ve got commitments for $200,000+! We continue to stay engaged in some great conversations with potential investors – with many more lined up this month. These funds will directly contribute to our facility and the exciting opportunities it presents. Do you want to get Susgrainabling? We’d love to chat!
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🔎 Do you have a facility location lead?
Now that the equipment purchase is imminent, we’ve increased our efforts to find our perfect upcycling facility location. Clinton continues to look at sites in Calgary where the real estate market is red hot! Our team is evaluating both lease and purchase options in Calgary, but we could be open to other locations if it’s a fit. If you are aware of any off-market real estate options or know of anything promising that hasn’t been publicly listed yet? We’d love to hear about it!
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Seeking: Technology Advisor
💘 Are you our perfect match? We’re looking for an advisor with technology expertise, particularly with software and ERP experience. Does this sound like you or someone you know? We’d love the opportunity to charm you over a quick call to see if together we might be a match made in heaven!
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Thank You!
We wanted to take a moment to share our gratitude with you—our Investor Newsletter subscribers. Thanks to you, we’ve received a number of incredible advising leads and have met some amazing people. Together, we’ve identified a new partner and continued to raise funds to support our company’s future. We’re also engaged in many conversations with interested parties that we can’t wait to partner with when the time is right.
Ultimately, we wanted to say: THANK YOU! Even just the kind and encouraging replies to our new and improved investor newsletters has been unreal. We appreciate you and all the support for Susgrainable.
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