Fledgling chilled coffee brand Jimmy’s Iced Coffee is seeking £100,000 of investment to boost its NPD and national listings.
Jimmy’s - the brainchild of founding director Jim Cregan - launched in April last year in Selfridges and is also in Waitrose and Ocado.
To date, the brand’s set-up and running costs have been funded using a £120,000 loan from his parents, but Cregan is seeking up to £100,000 of external investment in return for a 10% stake. “I want to be able to buy one of my iced coffees wherever I go, whether it’s John O’Groats, or Ireland,” said Cregan.
Cregan, who aims to turn ‘Jimmy’s’ into a household brand name, is in talks with investors to raise funds to fuel future NPD that could include single-serve Iced Coffee ice cream, and Iced Coffee babyccinos for kids (small cartons of flavoured milk not containing coffee).
Currently, Jimmy’s turns over £20,000 a month (equating to £240,000 on an annualised basis) but Cregan aims to build an annual turnover of £850,000 by the end of next year through launches and further listings and also wants to take his brand to Europe and the UAE.