Introduction to BePure
BePure’s story is an inspiring one, as are our ambitions for a new and exceedingly better future of health for New Zealanders and across the globe where people are empowered to take ‘self health ownership’.
BePure was originally founded by leading clinical nutritionist Ben Warren. Ben had a vision of happier and healthier communities across New Zealand, achieved by creating a new future for health. His vision has become our company mission.
This mission is being realised through the three companies that will sit under the BePure Group umbrella: BePure Health products; the BePure Clinic; and Eve Health, our at-home health testing company that launched in February 2019.
At BePure we see optimal health as a basic human right. We believe that we all have a right to access the knowledge and appropriate support systems to support our own health journeys.
Widespread knowledge about how we should be looking after ourselves, and support in keeping ourselves optimally healthy has the power to transform our current health system from a treatment model to a prevention model. The concerning, ever-growing rates of health issues such as obesity, cancer, heart disease, diabetes, auto-immunity, degrading mental health, anxiety and depression are glaring signals indicating that a change is sorely needed.
The dramatic growth of the health and wellness space globally, New Zealand included, is another bright signal of change. Consumers are the drivers of this growth, having been roused by further education and awareness brought about by thought leaders such as Ben.
These educational messages are landing profoundly with people as they witness health issues impacting the people they love and/or as they seek to take control of their own health.
Why We're On This Mission
Our modern environment and pace of life is creating a population who are tired, sick and overweight.
BePure supplies nutritional products, clinical services and wellness testing nationwide, selling most of its products and services on a subscription basis. BePure is leading the holistic health and wellness space in New Zealand and enabling customers to be proactive and take back control of their health.
BePure has grown its combined revenue from $2.8m in FY16 to $7.5m in FY19 (a 39% CAGR), delivering consistently strong GP margins of between 44-57% and positive EBITDA over the same period. With new equity to execute the strategic growth plan, we believe we can grow revenues to $30.6m by FY23M, delivering $6.6m of EBITDA.
BePure has created and maintains its competitive position through a combination of:
- its unique diversity of business units which feed and generate demand and customers for the others
- a strong brand and social media following that cannot be easily replicated
- its digitally enabled platform that allows seamless engagement nationwide in an otherwise
- its depth of experience and knowledge from 15+ years of clinical practice, testing and product
- its multiple distribution avenues including, D2C through our online store and subscription
service, presence in 150 retail stores and D2C testing service.
BePure’s mission is to create a new future for health. BePure is currently championing a niche within this sector, paving the way in scientifically driven holistic health that complements our existing medical model. This focuses on educating and inspiring people to take action on adapting their diets and lifestyles to support their ongoing health, incorporating bioavailable high-quality essential micronutrient support where necessary; testing for optimal health markers; then guiding and supporting people through behavioural change and their ongoing health journeys. We invite investors to join us in achieving this mission.
- More than 70% of group revenue is of a recurring nature, due to the successful application of a subscription based model for both products and services.
- Strong revenue growth in the well established BePure Health products business from $2.6m in FY17 to $5.7m in FY19 with projected revenue growth to $22.2m in FY23, an annualised growth rate of 40%.
- Successful transition of the BePure Clinic business to a more scalable digital format with higher gross margins, projected revenue growth from $1.7m in FY19 to $2.9m in FY23.
- BePure Health and BePure Clinic forecast to contribute approximately $1.6m of EBITDA in FY20 before expansion costs.
- Although early stages of revenue generation, more than $2.5m has been invested in the Eve Health business, including development of platform software and laboratory capability, allowing the business to provide a D2C offering and become a leader in the lucrative global at-home testing market, a market projected to grow annually by more than 10% in the USA.
- A strong established brand with a ROI in the top 2% in Australasia for social media based marketing.
The global wellness economy was a USD$4.2 trillion market in 2017. The industry grew by 6.4% annually from 2015 to 2017, nearly twice as fast as global economic growth, with the New Zealand market sharing in this growth.
Global growth in the wellness economy is being driven by:
- Growing health issues such as obesity, heart disease, diabetes, autoimmunity and degrading mental health.
- A need and desire by people to address these issues, take ownership of their health and improve their lifestyle.
- Millennials that will account for 55% of consumer spending in the next few years and prioritise health and wellness second only to family.
- An ageing population also looking for holistic health support.
We are undertaking the capital raise in order to:
- Increase stockholdings and invest in new product development.
- Pursue key Eve Health growth initiatives by expanding the laboratory and investing in scientific R&D.
- Refresh the brand and websites for international expansion.
It is BePure’s mission to create a new future for health. BePure is currently championing a niche within this sector.
Who Are We Helping?
BePure Audience Concerns, Obstacles and Support Channels
The key points of difference that define BePure over other holistic health or nutrition companies are:
- 15+ years of clinical practice that sit as a cornerstone informing all that we do.
- Premium, high quality, highly bioavailable nutritional products that effectively support your health.
- Health testing for a more extensive range of biomarkers than medical testing, focused on optimal health markers and preventative measures.
- Effective health protocols and diet, lifestyle and nutritional recommendations derived from current scientific literature.
- New Zealand based and owned company cutting a track in the industry here.
We know through our work at the BePure Clinic, and through the ever-growing body of literature that our research team procures, that our diets and lifestyles are two of the most powerful indicators of our current and future health risk factors. Armed with scientific knowledge and data, along with experience from our years of clinical practice, we are humbled to have guided clients towards huge successes in their health journeys. We have supported clients with chronic health issues (e.g. type 2 diabetes, rheumatoid arthritis, hormonal imbalance conditions, irritable bowel disease and other autoimmune conditions), as well as reduced risk factors for future health issues by optimising their lifestyles, diets and nutritional support.
The BePure Clinic is a microcosm for the entire BePure mission. The work we do here informs and directs the strategies for both BePure Health products and Eve Health. By working one-on-one with large volumes of New Zealanders, we are able to witness the reality of the health issues that people are living with, what testing and interventions are most impactful to assist them, and what nutritional support or natural health products they require the most. Then, through the Group we are able to nimbly develop effective and relevant products and solutions, driven by the authentic need of the people we are here to serve.
Optimal health testing has been a pillar at BePure for many years, and it is often through testing that our customers experience the breakthroughs that fuel the fire of change through their health journeys. The New Zealand market for direct to consumer testing is still in its infancy. However, the direct to consumer testing market is blowing up globally. In 2017 it was estimated as a USD 211 million market in the USA alone, and is predicted to be worth USD 340 million by 2022, growing at a CAGR of 10%. Eve Health’s Hormone Balance Test as our first steps on the road of transparency into our health, we see an extensive future for the BePure Group within the global testing arena.
BePure is on a path to educate, inform, support and inspire people to take ownership over their own health, in order to transition our population to the optimal end of the health spectrum, reversing the direction of the current shocking health statistics that are shaping our communities.
BePure Chief Executive Officer / Director
Andrew started out buying his first property at 21, followed by starting his first business at 22. He has been an entrepreneur ever since, buying and developing property, growing and running his own businesses and investing in others over the last 15 years.
It’s Andrew’s personal health Journey that led him to BePure, after attending one of Ben’s speaking events in mid 2014. He thought to himself “this is incredible, everyone needs to know this”. After a few months of discussing the opportunities with Ben, Andrew was hooked and decided he had found the project he wanted to dedicate himself to.
Andrew put his first round of money into BePure in December 2014 and running the business part- time while the rebranding and restructuring of the business was taking place. BePure relaunched in July 2015 and Andrew came on board as BePure’s full time CEO. The company has since gone from strength to strength under his management, with sales growing to 7.5million per year, along with recruiting a team of over 39 staff, all with absolute passion and purpose for the BePure mission.
Andrew is very driven to lead his team to change the way the world looks at health and for BePure to capture some of the value of that change.
BePure Founder and Clinical Director / Director
As one of New Zealand’s leading nutrition and holistic health experts, Ben has been spreading his message, undistracted
by passing wellness trends, for the last 15 years. Ben has
made it his mission to build a new future of health through emphasising the importance of personalised nutrition and lifestyle recommendations in supporting people on their health journeys and his work is making people sit up and listen.
Over 60,000 people have heard Ben speak at his educational seminars. He’s presented at TEDx and his work can be found across multiple publications.
Ben founded the company over 15 years ago in Hawke’s Bay, providing unique nutritional programmes and protocols which have seen some extraordinary transformations with his clients. It is through his work one-on-one with clients at the BePure Clinic that he has developed the BePure Health product range to assist with everyday abundant health.
Ben oversees the team of Clinical Consultants at the BePure Clinic and day to day focuses on research and development work across the group.
Qualifications: MSc (hons) Holistic Nutrition, BA (hons) Experimental Psychology, Level 3 CHEK Nutrition and Lifestyle Coach, Level 2 CHEK Muscular-Skeletal Therapist, Level 2 TFH, Level 2 EFT, continued education in soil agronomy. Currently completing a PhD in mental health, metabolomics and nutrition at the University of Canterbury
General Manager - BePure Products Business
With 8 years in marketing roles in New Zealand and Germany, and 4 years in management roles, Lily brings a wealth of commercial and marketing experience to BePure. Having joined in 2016 as the company’s marketing lead, Lily led BePure to its largest growth rate and success through effective marketing and communications, and quickly showed strong aptitude to wider business disciplines. This competence, as well as Lily’s passion for the BePure mission, positioned her as the best candidate for the role of General Manager.
In addition to her joint degree in Marketing, Management and Psychology, Lily has also studied with the Institute for Integrative Nutrition (IIN) which gives her valuable insights and understanding into the natural health industry we are in.
BePure Clinical Team Manager
Lisa Grey leads the BePure Clinic business. Having worked in the health and fitness industry for the past 8 years, Lisa has developed a deep love for the interconnection between the body, mind, and soul. Lisa’s innate drive for learning and growing her clinical knowledge, as well as her fantastic approach and results with clients, led to her appointment as Clinical Team Manager. She holds regular training sessions with the clinical and customer support teams to keep growing BePure’s clinical excellence, and she contributes clinical knowledge towards new product development and Eve Health strategy.
General Manager - Eve Health Business
Beatrice Thorne leads and manages the Eve Health business. Coming from a broad business background that started in HR, people and performance, and progressed to sales and marketing, Beatrice acted as Business Manager for BePure touching many aspects of the business prior to stepping into the lead role for Eve. From HR management, new product development, managing the clinic and leading R&D work, her exposure to all areas of the business allows her to contribute widely not only to Eve, but to the wider BePure management team.