Seeking to expand its already successful business, London-based startup We Are Tea launched an equity crowdfunding campaign on Crowdcube to raise £250,000.
According to its campaign website, We Are Tea is a fast-growing company with a mission to make the world of speciality tea more open and accessibly. It operates in the premium tea market and work with various retailers including Tesco, Whole Foods and Ocado.
Explaining its product, the We Are Tea team shared, “We ethically source and sell whole-leaf teas either in a loose tea format or in whole-leaf biodegradable teabags. We have over 40 different types of award winning whole leaf teas across black teas, oolong teas, green teas, white teas, fruit and herbal infusions and our very own trademarked range of superteas such as Activitea, Immunitea and Serenitea.
“We sell our teas in resealable pouches, teabag cartons and reusable caddies in the retail market and we have products for the out of home market including the Simplicitea tea infuser. Our teas can be enjoyed hot, as well as cold, and for something a little different in our tea-infused cocktails.”
Since forming in 2011, the retail side of the business has grown rapidly with sales doubling year after year and the company is constantly achieving its target goals. The team stated, “We currently make a net profit . We forecast our gross margin will increase in the future as a result of increased volumes and supply chain efficiencies.
“We operate a straightforward business model – we have a senior team who run the business, a sales team of two which manage the out of home and gifting channels, plus a marketing team of two. We believe that we have the team and the processes in place to grow the business exponentially over the next 3 to 5 years.”
In regards to what We Are Tea plans to use the funds for, the team noted that all of it will be utilized to facilite the next stage of the company’s growth. This growth shall be achieved by increasing its marketing efforts, building brand awareness, gaining trial and encouraging customer loyalty. They added, “We will bring new innovative products to market in parallel with increasing our distribution in the major UK supermarkets and out of home market. We shall also be exploring international expansion.”
Those interesting in funding the company will receive 10% in equity.
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