Why is my crazy idea from 2013 now a billion-pound trend? 'Trends' are an interesting concept when raising investment.
A healthy fast food store, next door to a bakery chain
In 2013 I opened my first healthy fast food store. It was the first ever licensed healthy hot fast food store in Newcastle city centre.
At the time people thought it was delicious but a bit crazy. It was between £5 and £12, and we served fresh salmon burgers with oven-roasted sweet potato fries... next door to a well-known high street bakery chain.
We were doing grocery delivery to people's homes before it was cool, selling raw chicken and prepped vegetables by the box.
Too early for investors
I tried to raise funding for the business, but ultimately the lack of tables freaked out the local angel investor groups and it needed to be bootstrapped. They told me I needed nine sites to be investable!
However, the tables have now turned. In 2023/24 I am seeing millions raised for pretty much identical concepts. The meal prep industry in the UK is worth over £1.4bn a year.
Stay in the game
Timing is a strange thing in fundraising, and a concept I still have to wrap my head around.
If you feel like you are too early, don't let it beat you up. Just stay in the game. Business is not a sprint, it's a marathon. Time in the market is the key to unlocking success.