The adult-orientated milkshake brand created by ex M&S buyer Andrew Sherick is seeking £250k of crowdfunded investment to grow its brand and range of products.
Mr Shericks Shakes is offering 16.97% of its equity for £250k via the Crowdcube funding platform, valuing the business at £1.47m.
The brand was launched 17 months ago in October 2013 in Selfridges and has expanded to include listings in Harrods, Waitrose, 3663, Booths supermarkets & Compass.
The premium-end products are aimed at the adult market and include flavours such as Pot Au Choc, Cookies & Cream and Strawberry Pavlova.
The company plans to use the cash injection to build its brand in the UK and over the next five years to diversify into new product lines, such as desserts and mousses, and international markets.
In the short-term the investment will be used for marketing activity to drive awareness of the brand, grow its administrative infrastructure, increase manufacturing capabilities and inject working capital into the business.
The company envisages an exit opportunity for investors in 2018-2020, referencing similar premium brands that have been snapped up like Innocent and Green & Blacks.
In its last financial year to September 2014, the company generated just £61K of total sales, but it expects this to increase six-fold in the current financial year to £371k.
Last year the firm made a pre-tax loss of £125k and does not plan to move into profit until the 2016/2017 financial year on forecast revenues of over £3m.
Mr Shericks Shakes has already raised around 65% of the £250k it is seeking in the few days the investment drive has been live. It has currently raised £161,330 from 59 investors, including one investment of £125k.
The news comes as Camden Town Brewery has entered a period of overfunding after sailing past its target of raising £1.5m also on Crowdcube.
The brewer has currently raised £1.8m for just 2.39% of the equity – valuing the company at a punchy £75m. The overfunding period will remain open for another 26 days.
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