Fetch offers the home delivey of fresh food for dogs with focus on Portland, Oregon and the Pacific Northwest. We are having success with a localized approach to a proven market for fresh food for dogs on a national scale. We have been in business three years and have a loyal subscriber customer based and growing each month with very minimal investment of money or time. Our customer retention is very high. Our strategy is to take this LOCALIZED approach to other dog centric communities around the US who reflect a desire to support local companies. In new markets we will hire local talent and be a business partners with them.
We are a LOCALIZED version of companies like The Farmers Dog and wining on product, customer care, sustainability and price.
Since we are local, we can effectively market our product and service through events, meet ups, and strategic partnerships with other dog related businesses such as day care, overnight stay, mobile groomers, dog walkers, (Rover), trainers, and Veternarians. We also partner with apartment and condo communties hosting happy hours and other fun events. Plus we work with rescue organizations and have a partnership with the Oregon Humane Society.
Our core business is primarily direct-to-consumer subscription based delivery. However, in an effort to build awareness we are now in 19 pet specialty stores in the Portland area alone selling a different product from our website. We expect to be in 30 to 40 stores by mid year. We are seeing strong sell through from retailers. Today we have 150 plus customers, mostly representing DTC subscribers. Many of our customers have been with us more than one year and some since inception. Their dogs love our food.
On average a customer represents $2,000 year in revenue for our core product. As we expand our product offerings to treats, cakes and sauces, we believe the customer value will range between $2,200 and $2,500 per year.
The fresh dog food market is growing exponentially. Fresh food alone is expected to be a $6B business by 2030. The Farmers Dog grew 60% in 2023 to $800MM in revenue. In Oregon and Washington along, there are 2.9 million dogs. 40% of US house holds have a dog and an average of 1.4 dogs.
Our marketing opportunity is two fold. Due to our lcoalized approach we can compete and win against national providers for customers who have already made the switch to fresh food. We are doing this already. In addition, we can market to dog parents that are coming into the fresh food market from kibble.
Our products consist of meat loaf and meat balls for dogs. Our redeipes are formulated by a certified veterinarian nutritionist and prepared in a rented USDA approved kitchen,. The products smell great and does not resemble the wet food consistency and bad smell that other national companies send out. We plan to evolve to 100% meat balls as our core product due to the ability to drive down cost of production signficantly through automation. Plus we believe it will be a much better customer experience. With this shift, we believe our gross margins can achieve 50% or better with the mix of other products such as treats with higher margins.
Our production staff represents local chefs/cooks who have been with the company since nearly inception. We have a general manager who leads all our production efforts. We produce 1 day each week and will add to this schedule as we scale. We have a great customer care person who was a customer and now a team member.
I have proven success in building multiple companies to exit. This includes one IPO with a technology company, plus I sold my internet company, (GolfNow.com), to The Golf Channel, plus I have been a silent partner in two internet marketing agencies, One sold to private equity and one sold to an investment group executing a IPO roll up strategy of agencies which proved to be successful.
I am interviewing and have identified a President. This person will join subsequent to the closing of this round. She has 14 years experience in the pet food industry including retail distribution and currently runs a family owned dog food company in Portland. She is working for a family business which limits her opportunity. She is excited about Fetch and the potential for her.
Our current funding round is a convertible note with discount to a priced round we hope to achieve by early 2025. Minimum investment $25,000.
Thank you for the consideration.
Paul Mardesich
Fetch
Founder
www.feedfetch.com
[email protected]