Pitch by bottled sauce enterprise Man Meat Fire
Entrepreneurs from bottled sauce business Man Meat Fire pitch to potential investor Richard Reed.
Entrepreneurs Michelle Donovan and Jane Gordon from bottled sauce business Man Meat Fire pitch to successful businessman and potential investor Richard Reed. Filmed for BBC Three TV series Be Your Own Boss.
RICHARD: Man Meat Fire!
WOMEN: Yes, hello!
RICHARD: Meet Richard.
RICHARD: Michelle, how you doing?
JANE: I’m Jane, nice to see you.
RICHARD: Jane, likewise, likewise. So, tell me……
JANE: Well, we are Man Meat Fire. Man Meat Fire was born out of a bit of a passion for food. Umm, we done two years of barbecue catering. We used to turn up with our massive two metre barbecue and supply fantastic quality barbecue food to weddings and anniversary parties etc.
MICHELLE: A little bit of fall-out from that was, our sauces. People started to ask where we could source them, to pardon the pun. So we thought, right, well, this could work. So we’ve found somewhere now that bottles them and an accredited factory and we now well them into places like Selfridges and sort of high-end retailers.
RICHARD: Ah, so you’re trading.
MICHELLE: We’re trading already. So we’ve stopped the catering.
RICHARD: Can I say two things right? I love the name.
MICHELLE: Thank you!
RICHARD: And they taste really delicious!
MICHELLE: They’re good aren’t they?
RICHARD: That first one was amazing!
MICHELLE: Chimichurri? At the moment, we’re the only manufacturer of a chimichurri sauce in the UK.
RICHARD: Give me a sense of the economics. What does it cost to make? What do you sell it for? What does the customer pay for it?
MICHELLE: Sure. They vary slightly on price. They average about £1.70 a bottle.
MICHELLE: I wholesale them at £3.25.
MICHELLE: They would retail….well Selfridges have them at umm, yes, £6.75.
RICHARD: Alright. They’re expensive. That’s a lot.
MICHELLE: Yes. They’re high-end. The majority of retailers would probably have them around £4.50, £5.
RICHARD: Yeah, okay. They are delicious.
MICHELLE: Thank you.
RICHARD: I’m really worried about…..I think the margins are good for you, but I’m worried about the expense to the consumer. Is there any way you can solve that?
MICHELLE: Yes, we can certainly come down on price, umm, we would have to look at production for that. Umm, strangely enough we’re probably choosing the most expensive bottles. A square bottle means then all our labels have to be hand applied. Certainly if it was going to get any bigger, then it’s certainly something we’d take a look at.
MICHELLE: Without a doubt.
RICHARD: Okay. It’s a good idea in potential, but the economics I believe are gonna get in the way and I think that what they’re seeing is they’ve got a small number of high-end retailers stopping them, but it you wanna get big, you’ve just gotta get more affordable.
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