Fact - Diabetes contributed to 11% of deaths in Australia in 2018 (Source: Australian Institute of Health & Welfare) https://www.aihw.gov.au/reports-data/health-conditions-disability-deaths/diabetes/overview
Fact - 2.5% of Australia's Disease Burden was attributed to Diabetes in 2015 (Source: Australian Institute of Health & Welfare) https://www.aihw.gov.au/reports-data/health-conditions-disability-deaths/diabetes/overview
Fact - 280 Australians develop Diabetes every day (Source: Diabetes Australia) https://www.diabetesaustralia.com.au/about-diabetes/diabetes-in-australia/
Fact - 5.3% of Australia's population (1.3 million) had Diabetes in 2020-21 (Source: Australian Bureau of Statistics) https://www.abs.gov.au/statistics/health/health-conditions-and-risks/diabetes/2020-21
Fact - Diabetes is not a discerning disease - males and females had similar rates of diabetes (5.7% and 4.9%) (Source: Australian Bureau of Statistics) https://www.abs.gov.au/statistics/health/health-conditions-and-risks/diabetes/2020-21
Fact - The age groups contracting Diabetes significantly grows from the age group 45-54 - our primary target audience (Source: Australian Bureau of Statistics) https://www.abs.gov.au/statistics/health/health-conditions-and-risks/diabetes/2020-21
Diabetes is a chronic disease in Australia today and is still growing today. One of us was diagnosed with Diabetes Type 2 in February of 2020. Since that time, we have been learning about the disease and the implications of the types of food and personal care products she can buy. Today, our Supermarket industry, and indeed even our boutiques Health Stores do not call out Diabetes in their outlets to make life easier for their shoppers - the implication of this is that shoppers suffering from Diabetes are burdened with having to read the nutritional information and ingredients of every single product they select to determine if the product is safe for them to consume or use.
In response to this, we believe that there is a unique niche market opportunity available. Our research indicates that there are some 65,000 people per month in Australia seeking a solution that they can reliably go to and purchase items without the painstaking evaluation process (Source ClickStart Digital). (We have experienced these frustrations personally and we believe there is a large population of people also experiencing similar frustrations).
To address this, we have created an online retail business called Thrive Store Online. Thrive Store is designed to sell products (food, personal care and wellbeing solutions) that are suitable for people suffering from diabetes. We opened this business with a soft launch in late January and we are very encouraged with the results to date.
Currently the business is under the management of just two people (my wife and myself), so it is truly a family business. My background is one which we believe gives us the credibility to embark on such a journey - I have worked in the Fast Moving Consumer Goods Industry (FMCG) since 1975. I started my career as a retailer, then I became a supplier to retailers, then a distributor of goods to retail and ultimately a consultant to the industry. I have worked extensively across the globe and understand all FMCG challenges and hurdles. We are a 100% online retailer and we have started the business with the intention of not carrying heavy inventories. As orders arrive, they are then fulfilled as necessary from either inventory on hand or that we order from our suppliers. Our approach is to make the business interesting by providing a personal touch with our customers and so far, the feedback on this aspect has been positive.
Our customer community will primarily be people who are diagnosed with Diabetes, and secondarily people who are simply seeking healthier shopping options. Our aim is target our customers through social media platforms such as Google Ads, Facebook and Instagram. Based on the history since our opening the average orders are around $65. We offer free postage for orders over $50.00 in Australia which has worked to improve the basket size.
The product ranges that we currently stock amount to around 3, 500 SKU's. We have categorise these products under the banners of Make it at Home, Ready to Eat, Sweet Treats, Savoury Snax, Healthy Drinks, Personal Care & Wellbeing. We are wanting to offer a complete range and we are always on the lookout for new items. Our margins are typically running at around 40%.
We are now seeking an investor to help us with working capital so that we can take the business to the next level through a media campaign. We are also keen to learn from interested business partners. Please take a look at our website (www.thrivestore.com.au) - we are proud of what we have achieved so far.
I am sure that prospective investors will have questions - please feel free to contact us so we can address these as they arise.
We look forward to developing a fruitful partnership. Many thanks for your interest.
Kind regards, David & Daniela
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