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Crowd Cooks 1A

Equity Belgium 53 investors Tax Shelter applicable

Tax Shelter

The first ready-to-eat foodbox
Information Note Terms & Conditions
€1,250,000
Pre money valuation
19.4%
Equity offered
€36,800
Amount raised
€50,000
Committed by co-investors
11 days
Remaining
€50,000
Minimum target
74% funded

CUSTOMERS

The so-called Golden Customers are couples and parents that are both working full time. They tend to have long days working very busy jobs. Many also love sports and all aspire to a healthy way of life. Since the launch in February 2019:

  • 200 Families have tried Crowd Cooks
  • 100 of them have ordered at least 2 times
  • 47 are weekly Abonnes (they are the golden customers)

TESTIMONY OF ALEXIA, ONE OF CROWD COOKS CUSTOMERS

MARKET SIZE & PENETRATION

The online food delivery market is expected to grow to more than 709 million euro with 2,4 million consumers in Belgium (Statista). This market is dynamic and will keep growing as people look actively for convenient solutions when it comes to food, compared with the traditional model of doing your own shopping and cooking yourself.

If we look at the specific segment of Food boxes, the market is estimated to reach 88,6 million euro with 2,8 million boxes ordered in Belgium in 2019. Hello Fresh being the main player, followed by Foodbag. Crowd Cooks is aiming to get to 1,3% of this specific segment on an annual basis in Brussels by the end of 2020. This means 13,000 food boxes delivered next year (This year approx. 1800 food boxes). By 2024, the aim is to hold 5% of the Belgium market, equaling 270,000 food boxes delivered. First market is Brussels, after that the service will be extended to the other parts of Belgium. Once a break-even point is reached, the international expansion to country such as France and The Netherlands is possible.

COMPETITIVE ADVANTAGE

One of the differentiating factors with the three major competitors in the market (Hello Fresh, Deliveroo and Uber Eats), is that Crowd Cooks delivers several meals in one shot (Sunday night or Monday morning) that can be kept in the fridge and used for the busy weeknights. With Deliveroo and Uber Eats, food needs to be eaten on the spot, whilst Crowd Cooks meals can be kept in the fridge for 5 days. With Hello Fresh, ingredients of meals can be stocked in the fridge, but you still have to prepare them yourself. With Crowd Cooks they just need to be warmed up.

The article made by Flair on Crowd Cooks highlight this competitive advantage by calling Crowd Cooks the Magic Box.

Download Flair_Article.pdf

MARKETING ACTIONS & SALES RESULTS

Since April 2019, several online campaigns with sponsored Facebook and Instagram influencers , Google Adwords and Google Display campaigns have been launched. Also, over 30 influencers have tested the meals and published blog articles, Facebook posts, Instagram stories and organized contests which gave credibility, generated traffic on the website and increased the community on social media. They established a partnership with Bsit, the childcare application and also La Ligue des Familles to appear in both newsletters. Simultaneously, they have developed offline advertorials in local newspapers (Uccle, Woluwe-Saint-Lambert, Woluwe-Saint-Pierre) and 55.000 flyers have been shared with prospects. As a result, they went from 20 orders per week on average in February to 57 orders by the end of September (+185% increase). In terms of revenue they grew from 1000€ per week to more than 3000€.

TAX SHELTER 45%

This business qualifies for the startup tax shelter. If you meet the conditions, 45% of your investment will be reducted from your personal income taxes. Read more…