Eat My Lunch

By Eat My Lunch

PledgeMe.Investment

Food,



NZ $807,093 pledged


615 people pledged


Closed


NZ $675,000 minimum target


Min

NZ$675,000

Max

NZ$2,000,000

100 100% Complete

Pledges will only be confirmed if the target is reached by: 19/06/2019 at 10:00 PM (NZST)

Make a Pledge

About

Eat My Lunch

Three and a half years ago, Eat My Lunch (EML) set off on a journey to give lunches to hungry kiwi kids. 

We are a for-profit social enterprise that has grown to a $4million revenue company, employing 50+ people in Auckland and Wellington. With this commercial model, we've been able to Give more than 1.2 million lunches to kiwi kids in need.

With your help, we’ve been able to have an impact on thousands of kids who know that despite some of the challenges they might face, they will be fed a healthy lunch at school. We’re really proud of what we’ve achieved to date, but there is still a long way to go. To reach even more kiwi kids in need, we need to scale.

We are excited to be opening our first Eat My Lunch store to reach the impulse lunch market. We are also looking at how we can make even more impact to the kids through education and enabling families to make their own lunches. This is the next stage of growth for Eat My Lunch and we want to give you the opportunity to be part of this solution through this capital raise. Child hunger is not a problem we can solve alone.

To find out more about how you can help us scale our impact, please read our Information Memorandum.

 

 

THE PEOPLE BEHIND EML

Lisa & MM

Lisa, a mum of two, had spent 15 years in Marketing for companies such as Unilever, Fonterra, Heinz Watties, Bluebird and Cadbury's. After seeing a news piece about kids going to school without food, Lisa used her commercial skills and desire to do good, to bring EML to life. Recently Lisa was awarded MYOB Woman Entrepreneur of the Year and was also named a finalist for New Zealander of the Year 2019. 

After coming up with the idea, Lisa approached renowned chef Michael Meredith. Michael was sold on the idea within minutes and since then, Michael has been responsible for the development of recipes, ensuring a high quality food standard, and inspiring kids through food. Michael was awarded the Queens Order of Merit for his services to the hospitality industry and to the community.  

Everyday, our incredible team make and deliver thousands of lunches to our customers and kids. Our 50 paid staff are employed as production chefs in the kitchen, as courier drivers, in customer services, logistics and general operations. We are also supported by amazing advisors and Board. 

One of the most unique and special aspects of EML are the volunteers. While our team makes the lunches for our customers, we are also incredible grateful to have 35 volunteers every morning who make the free lunches for the kids. Over the years, we've had more than 16,000 volunteers and to this day, we still have a 2-3 month waiting list for volunteering!

  

WHAT WE HAVE ACHIEVED SO FAR...

We launched from Lisa's home kitchen in June 2015. In that time, we have been blown away by the support of our customers, business partners, volunteers and the community. All of whom have helped us to achieve some significant milestones in just over 3 and a half years:

  • Given over 1.2 million lunches to Kiwi kids (we currently Give to 79 schools in Auckland and Wellington). 
  • $4million net revenue in 2018, employing 50 staff
  • Commercial kitchens in Auckland and Wellington
  • Scalable systems and technology to make and deliver thousands of fresh, healthy meals everyday
  • Inspired movement of over 16,000 volunteers
  • Highly recognised brand with 50% brand awareness after 18 months and one of NZ's most well-known social enterprises

OUR IMPACT

The impact EML has had on hungry kids goes beyond just filling hungry tummies. Schools have told us that because of EML:

  • 62% saw improved attendance
  • 69% saw improved behaviour
  • 87% saw better concentration in class
  • 89% saw improved health and wellbeing 

 

OUR AMBITION 

While we're proud of what we've achieved, there is still a long way to go and our ambition is to SCALE so we can Give even more lunches. 

We believe that this will be delivered through:

  1. EML Retail stores to capture the impulse market (those who don't decide what they want for lunch until the day)
  2. Building our sales and technology capabilities to engage more customers to buy lunches
  3. Educating and enabling families to make their own lunches
  4. Exploring the opportunity for EML to expand in NZ and Globally (we're looking at potentially licensing or franchising)

 The money we are raising will help us execute and deliver on those strategies. 

Make a difference

 

THE SHARE OFFER

 

This is the next stage of growth for EML and we want to give New Zealand the opportunity to own a share of our company through this raise. Child hunger is not a problem we can solve alone and we hope that kiwis will choose to be part of the solution and invest in a company that makes a difference! We are offering non-voting shares at $1 per share at a minimum investment of 500 shares. And to stay true to our mission, for every $500 you invest, we will Give 5 lunches to kids. With your investment, you will be helping us work towards realising our ambition. For our detailed financials, please refer to our Information Memorandum.

 

   

Our constitution is available here or on the Companies Register.

 

SOME OF OUR RISKS

Increased Competition: While there are many competitors providing catering, we believe that with our social purpose, model and established brand, we have a competitive advantage. We have also invested heavily in our supply chain and logistics systems which would be difficult for new players to replicate without a large amount of capital and industry experience.

Capability and Staff: As our business model is transitioning, management requirements and expertise will also need to change. Planning is in place for the recruitment of depth and capability to meet the needs of the business.

Increased Pricing of Ingredients: Continual review of pricing and suppliers has been an integral part of the business and our ability to work with Foodstuffs supplier base, has been a huge advantage. Seasonally based menus will allow us the flexibility to continually source and change our ingredients as required to maintain our margins at a healthy level.

Food Safety: In a fresh food business, food safety is always paramount and key. We have worked with the Ministry of Primary Industries to gain a multi-site approved food safety plan, as well as upgrading our procedures to meet Foodstuffs safety requirements. We have created a part time role to focus solely on ensuring that food safety procedures are adhered to, including continuous training of staff.

 

 

NOTE FROM PLEDGEME

We have completed a Veda check on the company and their Directors, as well as Insolvency and Google check. There were no adverse findings.

Updates 5

You did it! All 614 of you, our newest shareholders!

21/06/2019 at 3:44 PM

Kia ora,
 
We did it!! Thanks to you, we raised almost $800k by the time we closed. We are so grateful to all 614 of you for making this possible. We’re are forging ahead with fitting out our first store in Britomart and are looking forward to sharing the progress with you over the next few months.

Before we can officially anoint you as Eat My Lunch's newest shareholders, there are a few steps we need to go through.

The PledgeMe team will be contacting you to verify your details and collect your pledges. Here are the next steps:

  • For those who are investing through PledgeMe for the first time, you will receive an auto-email letting you know that PledgeMe is carrying out your investor identity and address check
  • For those who have been verified, you will have received payment details to complete your investment. If you have elected to pay by bank transfer, you have up to 10 working days to complete the payment, or your card will be charged. For those that have elected to pay by credit card, your card will be charged shortly.
  • Team PledgeMe will contact those of you that need to provide them with additional information for identity checks. Once verified, you'll receive payment instructions to complete your investment.

Please check, or keep checking your spam folders for messages from [email protected] over the course of the next week.

If you have any questions, please contact the PledgeMe team for help. Do remember office hours are Monday to Friday and we are busy processing pledges so may not be able to reply immediately.
 
 
Kindest,
Lisa, Michael, the EML team (and PledgeMe)

Final few hours - thank you! Please share.

19/06/2019 at 6:56 PM

Wow. What a ride this campaign has been. Our campaign is closing in a few hours (10pm tonight), and we’re now heading towards our maximum goal! 

Thank you so much for your pledges and support getting across the line. If you can, we’d love for you to share our campaign one final time - telling your crowd why you chose to pledge. Here’s the link to our campaign again: https://www.pledgeme.co.nz/investments/353

I trust that with our crowd, not only can we hit our maximum goal, but we can work to solve child hunger together. 

Thank you,

Lisa

2 days to go, 85% funded and 445 pledgers (thank you)!

17/06/2019 at 9:02 PM

Hi everyone,

Eat My Lunch recently turned 4 years old! As we celebrated this birthday and as we near the end of our equity campaign, I am reminded of our small and humble beginnings and why I wanted to start Eat My Lunch.

Many of you may know the story…

I saw a news piece about kids going to school with no food. At the time, my children were at primary school and I couldn’t imagine them going to school without eating all day. It didn’t matter how or why these kids were in this position, I just wanted every one of them to have an equal opportunity to learn and grow at school.

I was wearing a pair of TOMs shoes and inspired by their model, I came up with the idea for Eat My Lunch – for every lunch someone Buys, we Give a lunch to a child in need. That same night I came up with the name and registered the company the very next day. I quickly realised that I didn’t know how to make food for hundreds of people, so I approached Michael Meredith and he agreed to come on board. 7 months later, I quit my corporate job and we launched Eat My Lunch from my home kitchen.

We never expected Eat My Lunch to take off so quickly and to be embraced by the NZ public as it was. Within 12 weeks, we had reached our 3-year sales forecast and what started as a small, home business grew into a business now that has kitchens in Auckland and Wellington; employs 50 people, enabled 16,000 people from all over the community to volunteer; and proven the concept of businesses being able to make money and do social good at the same time. Most importantly, we have provided over 1.2 million lunches to kiwi kids who would have otherwise gone hungry.

But scaling our company has always been hard. We’ve gone to our crowd twice now to raise funds through both project and lending, and also raised investment privately. And now, we're doing it again with your help.

And that is the way it should be. I always wanted Eat My Lunch to be something everyone could be a part of – it has come so far not because of myself or Michael, but because there are so many people who care and who want to do the right thing by our kids.

We are excited to be opening our first Eat My Lunch store. This means we can move beyond selling our lunches online to selling them to people that decide on their lunch on the day. We believe we can make even more impact that way, alongside improving our model by enabling families in need to make their own lunches. This is the next stage of growth for Eat My Lunch.

So thank you to those of you who have pledged, for helping us make this possible and for investing in a brighter future for kids in Aotearoa. It means a lot to me and all of the team.

It is at this point that we do need to remind everyone that if we don’t hit the minimum then all pledges will be cancelled and no shares will be issued. This means that over the next 2 days we all need to do whatever it takes to ensure the campaign is a success, and if you are still wanting to invest, but haven't got round to it yet - now is the time!

 

Kindest, Lisa.

You need to pledge to see this update.

Thank you, early birds and FB Live Q&A tomorrow

27/05/2019 at 4:51 PM

Kia ora koutou.

We’re thrilled to have you on our equity crowdfunding journey with us.

A huge thank you to 269 pledgers who have come on board, your early support means a lot to us.We were really stoked to reach $300k on the first day of our campaign last week, and we’re now almost at $400k, which is 59% of our minimum target! Can you help us get to our minimum by the end of this week by sharing the campaign with your network?

If you’ve been thinking of pledging but haven’t yet, we're here to answer any questions you have. We're running a Q&A session on Facebook Live tomorrow (Tuesday) at 11:50am. We'll be chatting with Anna from PledgeMe aboout why we're equity crowdfunding and our exciting plans for the future. We hope you can join us via this direct video link or sign up to the event here.

Since 2015, we’ve given over 1.2 million lunches to Kiwi kids and we’re now inviting you, the people who’ve been with us and supported us on this journey, to help us scale our impact to reach bigger heights.

 

Lisa and the EML team.

    Details

    Offer Details

    Current Valuation 8,498,432
    Raise Minimum 675,000
    Raise Maximum 2,000,000
    Share Price 1.00
    Maximum Shares Offered 2,000,000
    Explanation of valuation:

    The valuation of Eat My Lunch was undertaken by the company Directors with internal and external professional input. We have considered how the targeted fund raise would affect the turnover and growth of the business and determined a long-term view for Eat My Lunch. We have used a number of models and industry benchmarks to determine business value and feel our current valuation is well-considered and reflects our understanding of and belief in the business. For more detailed financials, please refer to our Information Memorandum.

    Financial Summary

    Prev Year Current Year Est. FY 2021 Est. FY 2022
    Revenue NZ $4,512 NZ $5,879 NZ $7,587 NZ $10,012
    Operating Expenses NZ $1,450 NZ $1,775 NZ $2,182 NZ $2,722
    EBITDA NZ $197 NZ $515 NZ $800 NZ $1,283
    Net Profit -NZ $38 NZ $239 NZ $528 NZ $1,015

    Company Details

    Company Name: Eat My Lunch Limited

    Company Number: 5487501

    Company details are currently being synced with the Companies Office, please wait.

    Company Documents

    Documents no longer available to download, as this campaign has closed

    Director Details

    Name Role Profile URL Invested?
    Lisa King CEO & Director https://www.linkedin.com/in/lisa-king-7392a621/
    Iaan Buchanan Director https://www.linkedin.com/in/iaan-buchanan-203a2345/
    Catherine Tardif Director https://www.linkedin.com/in/catherine-tardif-701340105/
    Brendan Andrew Jones Director https://nz.linkedin.com/in/brendon-jones-29235242/

    Questions 15

    Ask a Question (You must login to ask a question)


    You burned through approx $950k of cash between 2017 - 2018. What was this used for? And what assumptions have been made regarding cash burn rate in 2019, also why?

    Furthermore, what was the cause of the increase in loss between 2016 and 2017? And how do you expect to reduce your losses by $788k in 2019?

    What work is being done to reduce the order fulfilment window?

    What support does Eat My Lunch receive from Foodstuffs (if any)?

    Thank you in advance.

    Posted on 21-05-2019 by Harry Bates

    Hi Harry,

    Over the last three years Eat My Lunch has spent significant resource on determining what the best model is to achieve scale and ultimately feed more kids! We have incurred significant capital expenditure investing in our website as well as investments in our commercial kitchens in Auckland and Wellington. Over the last two years we have trialed Eat My Dinner and offerings into supermarkets which were both discontinued in 2018 due to low margins and additional overheads incurred to support these initiatives.

    Our team is now laser focused on the core business and believe the best way to achieve scale and improved margins will be from a focus on corporate catering and retail outlets.

    The 36 hour fulfillment window ensures we are able to pursue a zero food waste policy. Our retail outlet strategy will enable people to purchase our lunches without having to order ahead of time.

    Foodstuffs was bought on as a strategic partner and we’ve been able to leverage their experience and expertise in the industry.

    Kindest, Lisa

    Answered on 22-05-2019 by Eat My Lunch


    Is Eat My Lunch a living wage employer?
    What is the company's policy with regard to packaging, in particular plastic?

    Posted on 22-05-2019 by Shane Caley

    Hi Shane,

    We have employ and have 50 paid staff. We are working towards paying living wage and it's one of our longer-term goals. We provide other benefits to our employees such as free meals/food, uniforms and try to assist where we can.

    All our packaging is recyclable and where possible, also compostable. We have also created a model which strives for zero food waste.

    Thanks for your questions!

    Kindest, Lisa

    Answered on 23-05-2019 by Eat My Lunch


    2 Questions:
    1. What are Investor Perks?

    2. How often would EML be paying dividends?

    Cheers!

    Posted on 24-05-2019 by Liang Chen

    Hi Liang,

    1. We are staying true to our mission and everything we do, we want to feed more kids. So for every $500 that is invested, you will also be able to Give 5 lunches to kids in need.

    2. Our aim is for significant growth, so profits generated will be re-invested for at least the next three years. The board will periodically reassess this position.

    Thanks for your interest!

    Kindest, Lisa

    Answered on 27-05-2019 by Eat My Lunch


    Hi Lisa,
    Apologies if I've missed it, but I couldn't see anything in the information on how shares could subsequently be sold or transferred. How is that going to work?
    Thanks

    Posted on 26-05-2019 by Jacqui

    Hi Jacqui,

    No worries! There is some information provided on pages 24 and 33 of the Information memorandum.

    As we aren’t a publicly listed company, there is no option to sell your shares on the open market, however if you do wish to sell in the future, we may be able to put you in touch with potential buyers, as we are hoping to keep a list of interested parties.

    Hope that helps. Kindest, Lisa

    Answered on 27-05-2019 by Eat My Lunch


    In the IM, you mention there may be future equity raises. What protection is there against future equity raises diluting my holdings?

    Posted on 28-05-2019 by Josh

    Hi Josh,

    As an early stage company with big ambitions, dilution in order to raise further growth funding is often considered a necessary and positive thing which may lead to more benefits for the company and existing shareholders. This would apply to all shareholders, including the Founder and Directors.

    In line with other equity crowdfunding raises, there are no pre-emptive rights in relation to the issue of new shares or other anti-dilution ratchets. The board will simply consider and determine its capital raising needs in the future. This may or may not include a rights issue, third party share issuance or debt funding.

    Hope that answers your question. Kindest, Lisa

    Answered on 28-05-2019 by Eat My Lunch


    Like Jacqui, I'm wondering about the process of buying and selling shares. I looked at pages 24 and 33 and I didn't find much info. I feel that companies have a responsibility to facilitate this process, including by providing prospective buyers a basic level of info to enable them to assess what would be reasonable to pay per share.

    thanks

    from Merryn

    Posted on 28-05-2019 by Merryn Bayliss

    Hi Merryn,

    If you do wish to sell in the future, we can facilitate introductions to potential buyers, provided we have a list of people interested in buying shares.

    We can provide information on the company’s performance, as part of disclosure requirements, to assist the buyer and seller to agree a price. However we would not set our share price, it would be up to the buyers and sellers to come to a bilateral agreement. Hope that helps.

    Kindest, Lisa

    Answered on 29-05-2019 by Eat My Lunch


    Hi Lisa,
    Are the free lunches given out every week day? Thanks.

    Posted on 29-05-2019 by Marnie Hunter

    Hi Marnie,

    The free lunches are given out on school days (so we don't give during weekends or school holidays).

    Thanks for your question!

    Kindest, Lisa

    Answered on 29-05-2019 by Eat My Lunch


    Hi So as we are not really buying shares in the company then are we? you are just asking for crowd funding to boost capital in exchange for 5 donated meals per $500 given ? Hellie

    Posted on 05-06-2019 by Helen Sykes

    Hi Hellie,

    Thanks for your question.

    You will also get shares in the company, and we will Give the relevant number of lunches based on your investment amount. For example, if you invest $500, you will be issued with 500 shares plus we will Give out 5 lunches. If you invest $1,000, you will own 1,000 shares and we will Give 10 lunches. Hope that's clearer!

    Kindest, the EML team.

    Answered on 05-06-2019 by Eat My Lunch


    Hi, Please advise an estimate of earning to the investor? The IM doesn't contain details around returns. Please respond specifically and in easy language without using financial jargons. I am very much interested to invest.

    Posted on 08-06-2019 by MIQ

    Hi there,
    Thanks for your question. Our aim is to continue significant growth, profits generated will be re-invested for at least the next three years. The Board will periodically reassess this position and we hope to return value to investors as soon as possible, without putting the financial position of the company and its growth plans at risk. Hope this answers your question, if you have any more, we would be happy to organise a call.

    Kindest,
    Lisa and the EML team

    Answered on 10-06-2019 by Eat My Lunch


    For each $500 invested do you mean to give 5 lunches once, or 5 per day/week/month?

    Posted on 11-06-2019 by Steve Parr

    Hi Steve,

    This is a one-off investor perk for this raise, so for every $500, we will Give 5 free lunches once. So if we raise $1million, then we will also Give 10,000 lunches.

    Kindest,

    Lisa

    Answered on 13-06-2019 by Eat My Lunch


    $500 = 5 lunches. So that’s $100 per lunch.... can I ask what your thoughts were around making it $500 minimum investment and such a low return of lunches?

    Posted on 12-06-2019 by Manmor11

    Hi, the 5 lunches we are Giving for every $500 invested is an additional perk which was completely up to our discretion whether we offered that or not and doesn't reflect the value of the lunches or the return of the investment. The $500 investment is reflective of the share price which is $1 per share. Hope that clears that up! Kindest, Lisa

    Answered on 12-06-2019 by Eat My Lunch


    Any plans to use your model to help families be able to feed themselves? Would love to see you work towards making yourselves redundant!

    Posted on 13-06-2019 by Dick Downing

    Hi Dick,

    Yes, as part of our raise we want to look at programmes to help educate and assist families to make lunches at home. If you would like to read more about this, it's on page 19 of our Information Memorandum.
    Kindest, Lisa

    Answered on 14-06-2019 by Eat My Lunch


    What kind of ongoing communication will you provide to investors about the company's performance and direction? Will investors have opportunity to connect with the Directors at annual meetings which are exclusive to your shareholders.

    Also are there any long term plans to sell EML in the future? If so within what time frame would you consider this. Thank you

    Posted on 15-06-2019 by Karen Ngoh

    Hi there, just wondered what happens with the pledges(investments) if you don't meet the minimum target? Thank you Wendy

    Posted on 17-06-2019 by Wendy

    Hi Wendy,

    The way crowdfunding works is that you have to reach the minimum to receive any money. So if we don't get to the minimum of $675,000 by the end of the campaign, Eat My Lunch receives nothing and those who have pledged, do not hand over any money. Hopefully that won't be the case!

    Kindest, Lisa

    Answered on 17-06-2019 by Eat My Lunch


    Hi there - can you please provide proper, detailed financial statements? That is, a detailed balance sheet, operating statement and cash flow statement. If we are to buy shares and provide equity, financial information is key.

    Posted on 19-06-2019 by Dawn Logan

    Pledgers 615

    Gary Gordon
    2019-06-19 19:36:22 +1200
    Niamh Wingate
    2019-06-19 19:30:00 +1200
    Dave Bassett
    2019-06-19 19:20:21 +1200
    Hisham Abdalla
    2019-06-19 19:16:18 +1200

    "Let’s make the world a better place together :-)"

    Raviv & Ronny
    2019-06-19 19:14:05 +1200
    Sarah Haliday
    2019-06-19 19:12:56 +1200
    Rachel johnson
    2019-06-19 19:09:43 +1200
    vicky
    2019-06-19 19:09:39 +1200
    Malcolm
    2019-06-19 19:02:10 +1200
    May Andersen
    2019-06-19 18:54:13 +1200
    Dan O'Hagan
    2019-06-19 18:53:28 +1200

    "Good luck team. Pleased to invest in such a worthwhile enterprise"

    Gary
    2019-06-19 18:50:08 +1200
    Amanda Cunningham
    2019-06-19 18:26:40 +1200
    Wen
    2019-06-19 17:59:38 +1200
    Wendy
    2019-06-19 17:56:40 +1200
    Brian Kwang
    2019-06-19 17:44:39 +1200
    Jamie
    2019-06-19 17:43:46 +1200
    Ada Marama
    2019-06-19 17:40:12 +1200
    Grenville and Samantha Ferreira
    2019-06-19 17:20:08 +1200

    "please keep me informed of progress with my pledge. All the very Best towards this cause! "

    Mark Unwin
    2019-06-19 17:02:34 +1200
    Sharon Puddle
    2019-06-19 16:59:06 +1200
    Luke Lee
    2019-06-19 16:53:13 +1200
    Jeanette Miller
    2019-06-19 16:29:06 +1200

    "Good work! A really worthwhile cause.."

    Krystal Liu
    2019-06-19 16:21:36 +1200

    "Good luck "

    Andrew
    2019-06-19 16:15:16 +1200
    Paula McKnight
    2019-06-19 16:10:23 +1200
    Kim Shapiro
    2019-06-19 16:04:59 +1200
    Claire Govier
    2019-06-19 16:03:01 +1200
    Andrew & Maree
    2019-06-19 16:01:45 +1200
    Thibault Beaujot
    2019-06-19 15:53:40 +1200

    Followers 94

    Eat My Lunch

    Three and a half years ago, Eat My Lunch (EML) set off on a journey to give lunches to hungry kiwi kids. 

    We are a for-profit social enterprise that has grown to a $4million revenue company, employing 50+ people in Auckland and Wellington. With this commercial model, we've been able to Give more than 1.2 million lunches to kiwi kids in need.

    With your help, we’ve been able to have an impact on thousands of kids who know that despite some of the challenges they might face, they will be fed a healthy lunch at school. We’re really proud of what we’ve achieved to date, but there is still a long way to go. To reach even more kiwi kids in need, we need to scale.

    We are excited to be opening our first Eat My Lunch store to reach the impulse lunch market. We are also looking at how we can make even more impact to the kids through education and enabling families to make their own lunches. This is the next stage of growth for Eat My Lunch and we want to give you the opportunity to be part of this solution through this capital raise. Child hunger is not a problem we can solve alone.

    To find out more about how you can help us scale our impact, please read our Information Memorandum.

     

     

    THE PEOPLE BEHIND EML

    Lisa & MM

    Lisa, a mum of two, had spent 15 years in Marketing for companies such as Unilever, Fonterra, Heinz Watties, Bluebird and Cadbury's. After seeing a news piece about kids going to school without food, Lisa used her commercial skills and desire to do good, to bring EML to life. Recently Lisa was awarded MYOB Woman Entrepreneur of the Year and was also named a finalist for New Zealander of the Year 2019. 

    After coming up with the idea, Lisa approached renowned chef Michael Meredith. Michael was sold on the idea within minutes and since then, Michael has been responsible for the development of recipes, ensuring a high quality food standard, and inspiring kids through food. Michael was awarded the Queens Order of Merit for his services to the hospitality industry and to the community.  

    Everyday, our incredible team make and deliver thousands of lunches to our customers and kids. Our 50 paid staff are employed as production chefs in the kitchen, as courier drivers, in customer services, logistics and general operations. We are also supported by amazing advisors and Board. 

    One of the most unique and special aspects of EML are the volunteers. While our team makes the lunches for our customers, we are also incredible grateful to have 35 volunteers every morning who make the free lunches for the kids. Over the years, we've had more than 16,000 volunteers and to this day, we still have a 2-3 month waiting list for volunteering!

      

    WHAT WE HAVE ACHIEVED SO FAR...

    We launched from Lisa's home kitchen in June 2015. In that time, we have been blown away by the support of our customers, business partners, volunteers and the community. All of whom have helped us to achieve some significant milestones in just over 3 and a half years:

    • Given over 1.2 million lunches to Kiwi kids (we currently Give to 79 schools in Auckland and Wellington). 
    • $4million net revenue in 2018, employing 50 staff
    • Commercial kitchens in Auckland and Wellington
    • Scalable systems and technology to make and deliver thousands of fresh, healthy meals everyday
    • Inspired movement of over 16,000 volunteers
    • Highly recognised brand with 50% brand awareness after 18 months and one of NZ's most well-known social enterprises

    OUR IMPACT

    The impact EML has had on hungry kids goes beyond just filling hungry tummies. Schools have told us that because of EML:

    • 62% saw improved attendance
    • 69% saw improved behaviour
    • 87% saw better concentration in class
    • 89% saw improved health and wellbeing 

     

    OUR AMBITION 

    While we're proud of what we've achieved, there is still a long way to go and our ambition is to SCALE so we can Give even more lunches. 

    We believe that this will be delivered through:

    1. EML Retail stores to capture the impulse market (those who don't decide what they want for lunch until the day)
    2. Building our sales and technology capabilities to engage more customers to buy lunches
    3. Educating and enabling families to make their own lunches
    4. Exploring the opportunity for EML to expand in NZ and Globally (we're looking at potentially licensing or franchising)

     The money we are raising will help us execute and deliver on those strategies. 

    Make a difference

     

    THE SHARE OFFER

     

    This is the next stage of growth for EML and we want to give New Zealand the opportunity to own a share of our company through this raise. Child hunger is not a problem we can solve alone and we hope that kiwis will choose to be part of the solution and invest in a company that makes a difference! We are offering non-voting shares at $1 per share at a minimum investment of 500 shares. And to stay true to our mission, for every $500 you invest, we will Give 5 lunches to kids. With your investment, you will be helping us work towards realising our ambition. For our detailed financials, please refer to our Information Memorandum.

     

       

    Our constitution is available here or on the Companies Register.

     

    SOME OF OUR RISKS

    Increased Competition: While there are many competitors providing catering, we believe that with our social purpose, model and established brand, we have a competitive advantage. We have also invested heavily in our supply chain and logistics systems which would be difficult for new players to replicate without a large amount of capital and industry experience.

    Capability and Staff: As our business model is transitioning, management requirements and expertise will also need to change. Planning is in place for the recruitment of depth and capability to meet the needs of the business.

    Increased Pricing of Ingredients: Continual review of pricing and suppliers has been an integral part of the business and our ability to work with Foodstuffs supplier base, has been a huge advantage. Seasonally based menus will allow us the flexibility to continually source and change our ingredients as required to maintain our margins at a healthy level.

    Food Safety: In a fresh food business, food safety is always paramount and key. We have worked with the Ministry of Primary Industries to gain a multi-site approved food safety plan, as well as upgrading our procedures to meet Foodstuffs safety requirements. We have created a part time role to focus solely on ensuring that food safety procedures are adhered to, including continuous training of staff.

     

     

    NOTE FROM PLEDGEME

    We have completed a Veda check on the company and their Directors, as well as Insolvency and Google check. There were no adverse findings.

    You did it! All 614 of you, our newest shareholders!

    21/06/2019 at 3:44 PM

    Kia ora,
     
    We did it!! Thanks to you, we raised almost $800k by the time we closed. We are so grateful to all 614 of you for making this possible. We’re are forging ahead with fitting out our first store in Britomart and are looking forward to sharing the progress with you over the next few months.

    Before we can officially anoint you as Eat My Lunch's newest shareholders, there are a few steps we need to go through.

    The PledgeMe team will be contacting you to verify your details and collect your pledges. Here are the next steps:

    • For those who are investing through PledgeMe for the first time, you will receive an auto-email letting you know that PledgeMe is carrying out your investor identity and address check
    • For those who have been verified, you will have received payment details to complete your investment. If you have elected to pay by bank transfer, you have up to 10 working days to complete the payment, or your card will be charged. For those that have elected to pay by credit card, your card will be charged shortly.
    • Team PledgeMe will contact those of you that need to provide them with additional information for identity checks. Once verified, you'll receive payment instructions to complete your investment.

    Please check, or keep checking your spam folders for messages from [email protected] over the course of the next week.

    If you have any questions, please contact the PledgeMe team for help. Do remember office hours are Monday to Friday and we are busy processing pledges so may not be able to reply immediately.
     
     
    Kindest,
    Lisa, Michael, the EML team (and PledgeMe)

    Final few hours - thank you! Please share.

    19/06/2019 at 6:56 PM

    Wow. What a ride this campaign has been. Our campaign is closing in a few hours (10pm tonight), and we’re now heading towards our maximum goal! 

    Thank you so much for your pledges and support getting across the line. If you can, we’d love for you to share our campaign one final time - telling your crowd why you chose to pledge. Here’s the link to our campaign again: https://www.pledgeme.co.nz/investments/353

    I trust that with our crowd, not only can we hit our maximum goal, but we can work to solve child hunger together. 

    Thank you,

    Lisa

    2 days to go, 85% funded and 445 pledgers (thank you)!

    17/06/2019 at 9:02 PM

    Hi everyone,

    Eat My Lunch recently turned 4 years old! As we celebrated this birthday and as we near the end of our equity campaign, I am reminded of our small and humble beginnings and why I wanted to start Eat My Lunch.

    Many of you may know the story…

    I saw a news piece about kids going to school with no food. At the time, my children were at primary school and I couldn’t imagine them going to school without eating all day. It didn’t matter how or why these kids were in this position, I just wanted every one of them to have an equal opportunity to learn and grow at school.

    I was wearing a pair of TOMs shoes and inspired by their model, I came up with the idea for Eat My Lunch – for every lunch someone Buys, we Give a lunch to a child in need. That same night I came up with the name and registered the company the very next day. I quickly realised that I didn’t know how to make food for hundreds of people, so I approached Michael Meredith and he agreed to come on board. 7 months later, I quit my corporate job and we launched Eat My Lunch from my home kitchen.

    We never expected Eat My Lunch to take off so quickly and to be embraced by the NZ public as it was. Within 12 weeks, we had reached our 3-year sales forecast and what started as a small, home business grew into a business now that has kitchens in Auckland and Wellington; employs 50 people, enabled 16,000 people from all over the community to volunteer; and proven the concept of businesses being able to make money and do social good at the same time. Most importantly, we have provided over 1.2 million lunches to kiwi kids who would have otherwise gone hungry.

    But scaling our company has always been hard. We’ve gone to our crowd twice now to raise funds through both project and lending, and also raised investment privately. And now, we're doing it again with your help.

    And that is the way it should be. I always wanted Eat My Lunch to be something everyone could be a part of – it has come so far not because of myself or Michael, but because there are so many people who care and who want to do the right thing by our kids.

    We are excited to be opening our first Eat My Lunch store. This means we can move beyond selling our lunches online to selling them to people that decide on their lunch on the day. We believe we can make even more impact that way, alongside improving our model by enabling families in need to make their own lunches. This is the next stage of growth for Eat My Lunch.

    So thank you to those of you who have pledged, for helping us make this possible and for investing in a brighter future for kids in Aotearoa. It means a lot to me and all of the team.

    It is at this point that we do need to remind everyone that if we don’t hit the minimum then all pledges will be cancelled and no shares will be issued. This means that over the next 2 days we all need to do whatever it takes to ensure the campaign is a success, and if you are still wanting to invest, but haven't got round to it yet - now is the time!

     

    Kindest, Lisa.

    You need to pledge to see this update.

    Thank you, early birds and FB Live Q&A tomorrow

    27/05/2019 at 4:51 PM

    Kia ora koutou.

    We’re thrilled to have you on our equity crowdfunding journey with us.

    A huge thank you to 269 pledgers who have come on board, your early support means a lot to us.We were really stoked to reach $300k on the first day of our campaign last week, and we’re now almost at $400k, which is 59% of our minimum target! Can you help us get to our minimum by the end of this week by sharing the campaign with your network?

    If you’ve been thinking of pledging but haven’t yet, we're here to answer any questions you have. We're running a Q&A session on Facebook Live tomorrow (Tuesday) at 11:50am. We'll be chatting with Anna from PledgeMe aboout why we're equity crowdfunding and our exciting plans for the future. We hope you can join us via this direct video link or sign up to the event here.

    Since 2015, we’ve given over 1.2 million lunches to Kiwi kids and we’re now inviting you, the people who’ve been with us and supported us on this journey, to help us scale our impact to reach bigger heights.

     

    Lisa and the EML team.

      Offer Details

      Current Valuation 8,498,432
      Raise Minimum 675,000
      Raise Maximum 2,000,000
      Share Price 1.00
      Maximum Shares Offered 2,000,000
      Explanation of valuation:

      The valuation of Eat My Lunch was undertaken by the company Directors with internal and external professional input. We have considered how the targeted fund raise would affect the turnover and growth of the business and determined a long-term view for Eat My Lunch. We have used a number of models and industry benchmarks to determine business value and feel our current valuation is well-considered and reflects our understanding of and belief in the business. For more detailed financials, please refer to our Information Memorandum.

      Financial Summary

      Prev Year Current Year Est. FY 2021 Est. FY 2022
      Revenue NZ $4,512 NZ $5,879 NZ $7,587 NZ $10,012
      Operating Expenses NZ $1,450 NZ $1,775 NZ $2,182 NZ $2,722
      EBITDA NZ $197 NZ $515 NZ $800 NZ $1,283
      Net Profit -NZ $38 NZ $239 NZ $528 NZ $1,015

      Company Details

      Company Name: Eat My Lunch Limited

      Company Number: 5487501

      Company details are currently being synced with the Companies Office, please wait.

      Company Documents

      Documents no longer available to download, as this campaign has closed

      Director Details

      Name Role Profile URL Invested?
      Lisa King CEO & Director https://www.linkedin.com/in/lisa-king-7392a621/
      Iaan Buchanan Director https://www.linkedin.com/in/iaan-buchanan-203a2345/
      Catherine Tardif Director https://www.linkedin.com/in/catherine-tardif-701340105/
      Brendan Andrew Jones Director https://nz.linkedin.com/in/brendon-jones-29235242/

      Ask a Question (You must login to ask a question)


      You burned through approx $950k of cash between 2017 - 2018. What was this used for? And what assumptions have been made regarding cash burn rate in 2019, also why?

      Furthermore, what was the cause of the increase in loss between 2016 and 2017? And how do you expect to reduce your losses by $788k in 2019?

      What work is being done to reduce the order fulfilment window?

      What support does Eat My Lunch receive from Foodstuffs (if any)?

      Thank you in advance.

      Posted on 21-05-2019 by Harry Bates

      Hi Harry,

      Over the last three years Eat My Lunch has spent significant resource on determining what the best model is to achieve scale and ultimately feed more kids! We have incurred significant capital expenditure investing in our website as well as investments in our commercial kitchens in Auckland and Wellington. Over the last two years we have trialed Eat My Dinner and offerings into supermarkets which were both discontinued in 2018 due to low margins and additional overheads incurred to support these initiatives.

      Our team is now laser focused on the core business and believe the best way to achieve scale and improved margins will be from a focus on corporate catering and retail outlets.

      The 36 hour fulfillment window ensures we are able to pursue a zero food waste policy. Our retail outlet strategy will enable people to purchase our lunches without having to order ahead of time.

      Foodstuffs was bought on as a strategic partner and we’ve been able to leverage their experience and expertise in the industry.

      Kindest, Lisa

      Answered on 22-05-2019 by Eat My Lunch


      Is Eat My Lunch a living wage employer?
      What is the company's policy with regard to packaging, in particular plastic?

      Posted on 22-05-2019 by Shane Caley

      Hi Shane,

      We have employ and have 50 paid staff. We are working towards paying living wage and it's one of our longer-term goals. We provide other benefits to our employees such as free meals/food, uniforms and try to assist where we can.

      All our packaging is recyclable and where possible, also compostable. We have also created a model which strives for zero food waste.

      Thanks for your questions!

      Kindest, Lisa

      Answered on 23-05-2019 by Eat My Lunch


      2 Questions:
      1. What are Investor Perks?

      2. How often would EML be paying dividends?

      Cheers!

      Posted on 24-05-2019 by Liang Chen

      Hi Liang,

      1. We are staying true to our mission and everything we do, we want to feed more kids. So for every $500 that is invested, you will also be able to Give 5 lunches to kids in need.

      2. Our aim is for significant growth, so profits generated will be re-invested for at least the next three years. The board will periodically reassess this position.

      Thanks for your interest!

      Kindest, Lisa

      Answered on 27-05-2019 by Eat My Lunch


      Hi Lisa,
      Apologies if I've missed it, but I couldn't see anything in the information on how shares could subsequently be sold or transferred. How is that going to work?
      Thanks

      Posted on 26-05-2019 by Jacqui

      Hi Jacqui,

      No worries! There is some information provided on pages 24 and 33 of the Information memorandum.

      As we aren’t a publicly listed company, there is no option to sell your shares on the open market, however if you do wish to sell in the future, we may be able to put you in touch with potential buyers, as we are hoping to keep a list of interested parties.

      Hope that helps. Kindest, Lisa

      Answered on 27-05-2019 by Eat My Lunch


      In the IM, you mention there may be future equity raises. What protection is there against future equity raises diluting my holdings?

      Posted on 28-05-2019 by Josh

      Hi Josh,

      As an early stage company with big ambitions, dilution in order to raise further growth funding is often considered a necessary and positive thing which may lead to more benefits for the company and existing shareholders. This would apply to all shareholders, including the Founder and Directors.

      In line with other equity crowdfunding raises, there are no pre-emptive rights in relation to the issue of new shares or other anti-dilution ratchets. The board will simply consider and determine its capital raising needs in the future. This may or may not include a rights issue, third party share issuance or debt funding.

      Hope that answers your question. Kindest, Lisa

      Answered on 28-05-2019 by Eat My Lunch


      Like Jacqui, I'm wondering about the process of buying and selling shares. I looked at pages 24 and 33 and I didn't find much info. I feel that companies have a responsibility to facilitate this process, including by providing prospective buyers a basic level of info to enable them to assess what would be reasonable to pay per share.

      thanks

      from Merryn

      Posted on 28-05-2019 by Merryn Bayliss

      Hi Merryn,

      If you do wish to sell in the future, we can facilitate introductions to potential buyers, provided we have a list of people interested in buying shares.

      We can provide information on the company’s performance, as part of disclosure requirements, to assist the buyer and seller to agree a price. However we would not set our share price, it would be up to the buyers and sellers to come to a bilateral agreement. Hope that helps.

      Kindest, Lisa

      Answered on 29-05-2019 by Eat My Lunch


      Hi Lisa,
      Are the free lunches given out every week day? Thanks.

      Posted on 29-05-2019 by Marnie Hunter

      Hi Marnie,

      The free lunches are given out on school days (so we don't give during weekends or school holidays).

      Thanks for your question!

      Kindest, Lisa

      Answered on 29-05-2019 by Eat My Lunch


      Hi So as we are not really buying shares in the company then are we? you are just asking for crowd funding to boost capital in exchange for 5 donated meals per $500 given ? Hellie

      Posted on 05-06-2019 by Helen Sykes

      Hi Hellie,

      Thanks for your question.

      You will also get shares in the company, and we will Give the relevant number of lunches based on your investment amount. For example, if you invest $500, you will be issued with 500 shares plus we will Give out 5 lunches. If you invest $1,000, you will own 1,000 shares and we will Give 10 lunches. Hope that's clearer!

      Kindest, the EML team.

      Answered on 05-06-2019 by Eat My Lunch


      Hi, Please advise an estimate of earning to the investor? The IM doesn't contain details around returns. Please respond specifically and in easy language without using financial jargons. I am very much interested to invest.

      Posted on 08-06-2019 by MIQ

      Hi there,
      Thanks for your question. Our aim is to continue significant growth, profits generated will be re-invested for at least the next three years. The Board will periodically reassess this position and we hope to return value to investors as soon as possible, without putting the financial position of the company and its growth plans at risk. Hope this answers your question, if you have any more, we would be happy to organise a call.

      Kindest,
      Lisa and the EML team

      Answered on 10-06-2019 by Eat My Lunch


      For each $500 invested do you mean to give 5 lunches once, or 5 per day/week/month?

      Posted on 11-06-2019 by Steve Parr

      Hi Steve,

      This is a one-off investor perk for this raise, so for every $500, we will Give 5 free lunches once. So if we raise $1million, then we will also Give 10,000 lunches.

      Kindest,

      Lisa

      Answered on 13-06-2019 by Eat My Lunch


      $500 = 5 lunches. So that’s $100 per lunch.... can I ask what your thoughts were around making it $500 minimum investment and such a low return of lunches?

      Posted on 12-06-2019 by Manmor11

      Hi, the 5 lunches we are Giving for every $500 invested is an additional perk which was completely up to our discretion whether we offered that or not and doesn't reflect the value of the lunches or the return of the investment. The $500 investment is reflective of the share price which is $1 per share. Hope that clears that up! Kindest, Lisa

      Answered on 12-06-2019 by Eat My Lunch


      Any plans to use your model to help families be able to feed themselves? Would love to see you work towards making yourselves redundant!

      Posted on 13-06-2019 by Dick Downing

      Hi Dick,

      Yes, as part of our raise we want to look at programmes to help educate and assist families to make lunches at home. If you would like to read more about this, it's on page 19 of our Information Memorandum.
      Kindest, Lisa

      Answered on 14-06-2019 by Eat My Lunch


      What kind of ongoing communication will you provide to investors about the company's performance and direction? Will investors have opportunity to connect with the Directors at annual meetings which are exclusive to your shareholders.

      Also are there any long term plans to sell EML in the future? If so within what time frame would you consider this. Thank you

      Posted on 15-06-2019 by Karen Ngoh

      Hi there, just wondered what happens with the pledges(investments) if you don't meet the minimum target? Thank you Wendy

      Posted on 17-06-2019 by Wendy

      Hi Wendy,

      The way crowdfunding works is that you have to reach the minimum to receive any money. So if we don't get to the minimum of $675,000 by the end of the campaign, Eat My Lunch receives nothing and those who have pledged, do not hand over any money. Hopefully that won't be the case!

      Kindest, Lisa

      Answered on 17-06-2019 by Eat My Lunch


      Hi there - can you please provide proper, detailed financial statements? That is, a detailed balance sheet, operating statement and cash flow statement. If we are to buy shares and provide equity, financial information is key.

      Posted on 19-06-2019 by Dawn Logan
      Gary Gordon
      2019-06-19 19:36:22 +1200
      Niamh Wingate
      2019-06-19 19:30:00 +1200
      Dave Bassett
      2019-06-19 19:20:21 +1200
      Hisham Abdalla
      2019-06-19 19:16:18 +1200

      "Let’s make the world a better place together :-)"

      Raviv & Ronny
      2019-06-19 19:14:05 +1200
      Sarah Haliday
      2019-06-19 19:12:56 +1200
      Rachel johnson
      2019-06-19 19:09:43 +1200
      vicky
      2019-06-19 19:09:39 +1200
      Malcolm
      2019-06-19 19:02:10 +1200
      May Andersen
      2019-06-19 18:54:13 +1200
      Dan O'Hagan
      2019-06-19 18:53:28 +1200

      "Good luck team. Pleased to invest in such a worthwhile enterprise"

      Gary
      2019-06-19 18:50:08 +1200
      Amanda Cunningham
      2019-06-19 18:26:40 +1200
      Wen
      2019-06-19 17:59:38 +1200
      Wendy
      2019-06-19 17:56:40 +1200
      Brian Kwang
      2019-06-19 17:44:39 +1200
      Jamie
      2019-06-19 17:43:46 +1200
      Ada Marama
      2019-06-19 17:40:12 +1200
      Grenville and Samantha Ferreira
      2019-06-19 17:20:08 +1200

      "please keep me informed of progress with my pledge. All the very Best towards this cause! "

      Mark Unwin
      2019-06-19 17:02:34 +1200
      Sharon Puddle
      2019-06-19 16:59:06 +1200
      Luke Lee
      2019-06-19 16:53:13 +1200
      Jeanette Miller
      2019-06-19 16:29:06 +1200

      "Good work! A really worthwhile cause.."

      Krystal Liu
      2019-06-19 16:21:36 +1200

      "Good luck "

      Andrew
      2019-06-19 16:15:16 +1200
      Paula McKnight
      2019-06-19 16:10:23 +1200
      Kim Shapiro
      2019-06-19 16:04:59 +1200
      Claire Govier
      2019-06-19 16:03:01 +1200
      Andrew & Maree
      2019-06-19 16:01:45 +1200
      Thibault Beaujot
      2019-06-19 15:53:40 +1200
      This campaign was successful and got its funding on 19/06/2019 at 10:00 PM.

      This campaign has closed, but this company may choose to do more equity raises on PledgeMe in the future. If you're interested in investing in Eat My Lunch, you can sign up to be notified when a new equity campaign from this company is published.

      Notify Me

      Investor Perks

      Invest In Eat My Lunch (And Give 5 Lunches For Every $500 Invested)

      NZ $500.00+

      In addition to part ownership in Eat My Lunch, we are also staying true to our mission so for every $500 you invest, we will Give 5 lunches to kids in need.

      Warning statement about equity crowdfunding

      Equity crowdfunding is risky.

      Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

      You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

      New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

      The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

      Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.