Meet The Founder: Stem + Glory – Plant-Based mostly Vitamin, Reimagined
When investing, your capital is in danger.
Louise Palmer-Masterton, creator of the plant-based informal eating model Stem + Glory has a powerful file in entrepreneurialism.
Having efficiently negotiated her first exit final yr, Palmer-Masteron has over thirty years expertise in enterprise, together with working a number of on-line shops and a digital media firm. Her latest enterprise, Stem + Glory is a flourishing vegan hot-spot, boasting flavourful, vibrant meals and an increasing supply service to satisfy all of the plant-based wants of its clients. With established websites in Cambridge and London, the model is increasing – and bringing on Seedrs traders to energy the subsequent stage.
Right here’s how it began.
What’s Stem + Glory’s imaginative and prescient?
Stem + Glory grew out of a 35-year ardour for plant based mostly meals… and a 35-year seek for a good vegan restaurant!
There may be loads of vegan junk and luxury meals on the market proper now. This vegan pattern is nice, and it’s changing individuals sooner than ever earlier than, however what we provide is totally different. Our menu is pure and wholesome, with a twist. We like daring flavours and color. All our meals is straightforward on the attention and that is a crucial USP – it appears to be like nice and it tastes nice.
We’re serving vegan meals that’s scrumptious sufficient, and accessible sufficient for Stem + Glory to face alongside the most important and most recognisable meals manufacturers within the UK. Our distinctive product vary and on-line market will enable us to increase our attain to a wider viewers, and contribute to bettering vitamin and the surroundings, one meal at a time.
What number of websites does Stem + Glory have and what’s the plan for growth?
We at present have two websites, one in Cambridge and one in London. We’ve only in the near past agreed phrases to maneuver to a brand new and greater website in Cambridge. This can be a vastly thrilling alternative for us to construct a website with a a lot bigger kitchen the place we will construct our on-line retailer functionality, in addition to handle the next quantity of deliveries. We’ll be constructing this website to be Covid-safe from the beginning and hope to open it to the general public within the autumn. The owner has dedicated capital to develop the house, and we’ve additionally secured a grant, so we’re actually wanting ahead to bringing it to life.
Earlier than the onset of the Covid disaster, we had agreed phrases on a second website for London in an incredible location. Happily, we’ve been in a position to renegotiate these phrases very favourably, and push the challenge again till the route forward is extra clear.
How has Stem + Glory tailored to the disaster and what are the plans for development shifting ahead?
Within the short-term, we’re constructing new revenues at current websites. We’re this break as an enormous alternative to discover a brand new mannequin that’s leaner and extra worthwhile shifting ahead, which is able to act as a blueprint mannequin for all future websites.
We’ve been in a position to capitalise on rising demand for supply companies, not only for sizzling meals, however for ready-made meals, drinks and specialist vegan objects inside an eight mile radius of every website. We wish our clients to have the ability to go on our web site or app and order a meal for tonight, and even replenish for the remainder of the week, and obtain it shortly. This sort of supply system is the way in which of the long run. We’ve been exploring the concept of strengthening this supply system in different cities by ‘darkish’ kitchens which might allow sooner growth at a fraction of the capital outlay.
How has the model grown over time?
Our London website grew 131% YOY in our first yr. The stats I’m most pleased with although are getting our labour prices and GP margins all in line. Once you obtain that, you already know that your mannequin is strong. The world coming to considerably of a halt has given us actually precious time to look at our enterprise mannequin additional and discover methods of constructing it even leaner.
What would be the major makes use of of proceeds from this spherical?
We plan for the proceeds from this spherical to give attention to improvement of the model and our on-line and supply platform in addition to upgrading all our tech and our branded app. We’re working with some actual hard-hitters on this subsequent stage of improvement, to get our model prepared to face alongside the most important and greatest. Our aesthetic and design work with Afroditi Krassa is already underway, and we hope to have the ability to reveal a few of that quickly. Afroditi is an incredible expertise, and dealing along with her has already been a game-changer for the model.
Why are you wanting ahead to bringing on Seedrs traders?
With two profitable funding rounds so far now we have an 800 robust investor neighborhood which we extremely worth. We now have an incredible interplay with them, and their enter is at all times welcome. We’re in common contact with everybody, and have some nice advisors in our neighborhood. So sure we’re excited to additionally now carry the Seedrs neighborhood on board.
What’s your favorite recipe Stem + Glory has ever had on the menu?
Blue corn tacos, on the London location.
What’s been your key life hack for surviving lockdown?
Gardening! I’ve beforehand been too busy to take care of my vegetable patch correctly. This yr I’ve put in 5 raised beds they usually’re already stuffed with greens.
To seek out out extra about Stem + Glory, go to the pitch.