Every dog may have its day, but not many have an equity crowdfunding venture loan campaign. Sure, we’ve seen Exploding kittens and BorrowMyDoggy fetch success; the pet sector is booming with interesting ideas and hot products. Now Hundemaxx, Germany’s largest chain of dog supply store, with approximately 35,000 products sold in two stores, a total gross revenues of over €6 million and approx. 160,000 customers is entering the race. Partnered with Companisto, Hundemaxx seeks to expand from its two locations in Munich and Nuremberg to other major cities including Berlin, Hamburg, Cologne and Stuttgart. With the confidence of over 198 investors, Hundemzxx’s venture loan campaign has raised over 173,379€ to date.
The megastore was founded by Frank Weber and Nadja von Elm-Weber in 2006 and employs nearly 50 people. At Hundemaxx, animal lovers can buy high-quality products and receive an independent and competent consultation from dog experts. Product range includes dry and wet dog food, food supplements, collars and leashes, dog apparel, dog beds, vehicle accessories, toys, training items and grooming products. There are also products for cat lovers.
Following in the footsteps of Berlin chocolatier Sawade, Hundemaxx launched their equity crowdfunding campaign for a venture loan last week, a loan with 8% annual interest and four years to maturity. With the help of the investors, Hundemaxx also wants to expand the online shop and improve communication with the physical stores.
Hundemaxx capitalizes in Fido’s changing role from a hunting or guard dog to a doted family member that is affectionately cared for, fed, and groomed, a relationship that Weber experienced when puppy Samba, a Rhodesian Ridgeback, moved in with him in 2002.
“That little bundle of energy became the center of attention very quickly and completely changed my life: Without Samba, we probablywouldn’t have Hundemaxx today,” Weber explains. “I felt that many locations were lacking personal consultations, a broad range of new and innovative dog supplies, the opportunity to talk with other animal lovers, and food brands with organic ingredients or a quality similar to that of human food.”
“We want to guarantee a shopping experience and a holistic perspective in terms of our dogs’ needs. We can achieve this by collaborating closely with dog trainers, physiotherapists, alternative practitioners and dog groomers as well as by offering seminars conducted by our experienced animal experts. We want humans and animals to feel happy in our stores,” Weber added.
The concept has been a success. Revenues have been increasing by 25% every year since 2006. In 2015, 160,000 customers visited both stores. Hundemaxx also offers its products via a pan-European online shop. To date, Companisto has nearly 50,000 registered investors who have invested a total of over 26.7 million euros in 57 financing campaigns for startups. Companisto is the most active private venture capital company in Germany as measured by the amount of published financing rounds (Source: BVK). Almost twelve million euros were invested by the crowd in the 2015 fiscal year, an average of 660,000 per business. Hundemzxx’s venture loan campaign closes 9 June 2016.
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