GoodFor Investment offer preview

GoodFor is a package-free, lifestyle grocery store that allows you and your family to fill and refill your pantry and household goods without creating packaging or food waste.

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GoodFor was founded in 2017 by James Denton & Georgie Hendl. The first store was opened in the heart of Ponsonby, Auckland and has grown to 6 stores throughout New Zealand. The company was founded on the basis that sustainable shopping is a necessity and must be executed in a contemporary way.

GoodFor currently has 6 stores nationwide, 5 / 6 of these stores are profitable and our new Nelson store is a step up in terms of design, layout and experience. Our plan is to move towards ‘flagship style stores in 4 locations around New Zealand over the next 3 years.

GoodFor has a leading brand in the lifestyle food retail sector and will continue to leverage this with our online store and branded products.

This capital raise will support the launch of the pantry storage business, invest in the online sales channel and open our first 2.0 stores in Auckland.

Investment Highlights.

  • A leading and purpose driven lifestyle and retail brand with a loyal customer base.
  • Existing revenue of $5.5m with a clear plan for scale and profitability.
  • A growing online business and the launch of a range of branded container products.

The Problem.

The current food system is categorically unsustainable. From the way food is grown, to the way it is packaged, to the way it is distributed and ultimately wasted is unsustainable. 8 million tonnes of non-recycled plastic waste enters our oceans annually, 24 billion tonnes of fertile topsoil is lost annually and 1.3 billion tonnes of food is wasted every single year. It is accepted globally that this requires an urgent solution.

The Solution.

To scale what GoodFor has developed and provide the world with a sustainable, omni-channel shopping experience that empowers, inspires and educates communities to consume in alignment with their health and the health of the natural environment. GoodFor is a package-free, lifestyle grocery store that allows you and your family to fill and refill your pantry and household goods without creating packaging or food waste. GoodFor also stocks a huge range of sustainable lifestyle products that will help support the change to building a life and home based on the philosophy of consuming in a sustainable way.

With over 500 products, we take care of your entire grocery shop except fresh produce, which we encourage people to purchase from local market gardens, farmers markets or grow their own.

Our Growth Strategy.

  • Drive online sales through best in class content and customer engagement:

    We have a very strong brand throughout New Zealand and are viewed as the sustainable grocery brand. We have never put the time or energy into our online channel and will do this beginning April this year with the introduction of a re-ordering element to our website, which will allow our customers to load their pantry refill very quickly. With an engaged audience of 30,000 kiwis who don’t live near a store, we will be heavily pushing this as a way for New Zealand to refill their pantries quickly, sustainably and at an affordable cost.

  • Continuous improvement for current network of stores:

    We have several small additions that need to be made to our current network of stores that will help build the customer base and revenue, including a new spice installation that has been tested and works in our latest Nelson store.

  • Open the 2.0 ‘flagship’ style version of stores in key locations:

    The “2.0” version of GoodFor is the concept that takes into consideration all the learnings from the past 4 years and opens up GoodFor to a much wider audience. The main aspect is increasing the footprint of the locations, allowing for a larger range of product, the implementation of new dispensing units and particularly giving access to small, toddler bearing trolleys that allow mothers to shop in store with their small children.

  • Launch the unique range of pantry containers:

    Together with a renowned product designer, we have created a range of pantry storage containers. These offer a stylish and sustainable alternative to brands like Sistema. We see this arm of the organisation as being the largest profit and revenue generator out of all three divisions of the company.

  • Continue to create and sell GoodFor branded products:

    GoodFor will continue to expand its range of GoodFor created and branded products that we feed through the stores at a higher margin. We will begin to sell certain products outside of the GoodFor store network also.

Competitive Advantage:

  • GoodFor has successfully spent 4 years focusing on winning and owning the sustainable pantry/grocery space throughout New Zealand.
  • GoodFor was the first mover in New Zealand to be a plastic-free food store, imprinting our brand as the innovator and leader in the sustainable food shopping space.
  • GoodFor has developed its own unique store fitting and fixtures that allow for easy relocation and customisation within a store.
  • GoodFor has developed its own designed set of pantry storage containers that will come with a design patent.
  • GoodFor has exclusive rights to certain product lines in New Zealand.
  • GoodFor owns the term “Refillery” in New Zealand.
  • GoodFor understands its location and format strategy through 4 years of trial and error.
  • GoodFor has strong relationships with manufacturers producing GoodFor branded products at a high level.
  • GoodFor has a pair of driven founders at the helm passionate to build a large and enduring business.

Offer Details

GoodFor is seeking to raise up to $1.5m of capital via issuance of ordinary shares ranking equally with all current shares on issue.

Next Steps.

If you wish to receive more information about the capital raise for GoodFor, please leave your details and an indicative investment amount below. We will be in touch with all interested investors in due course.

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About Snowball Effect

Snowball Effect is a New Zealand-based online investing marketplace, that enables New Zealand companies to offer shares to members of the public. Snowball Effect was founded in 2012 and launched in August 2014, after being one of the first to acquire an equity crowdfunding license from the New Zealand Financial Markets Authority (FMA). Over NZ$90 million has been raised on the platform.