SeedLegals helps Goodrays run a lean and fast-moving CBD startup

Goodrays, founded by Eoin Keenan, is fast becoming one of the UK’s leading sustainable CBD brands, with top-notch products making waves of calm and clarity across the country. In just three years, they’ve become a name in the wellness space and a central supplier to mainstream markets. Their CBD drops, gummies and drinks are on sale via their online store, as well as in Tesco, Waitrose, WHSmith and more.

Goodrays have achieved some seriously impressive growth since they started in 2019, growing 420% in year two and on track to close out 2023 with a further 150% growth. 📈 🥳

It’s all thanks to the team’s fierce focus, high-quality products backed by science and a lean business model that prioritises profitability.

SeedLegals played an integral role in helping Goodrays:

🏃‍♀️Move fast
💸Use resources wisely
🤸‍♀️Stay flexible

They’ve been avid users of our SeedFASTs, team agreements, share option scheme services and more. We spoke to Eoin to get the lowdown on how we helped 👇

Enable a lean approach

Goodrays have been careful to run a lean business from the start (ie: they maximise value while minimising waste). Using our full set of services was a no-brainer when it came to supporting this lean approach because it meant Goodrays could:

• Save money on legal fees by creating contracts themselves
• Save time by creating contracts fast with our automated workflow
• Access a variety of tools for early-stage startups in one place

Maximise speed and flexibility

For Goodrays, the best thing about using SeedLegals is the speed and flexibility it gives them to:

• Send documents to investors immediately and close deals within a day
• Create and sign team agreements within minutes
• Raise small amounts of capital any time an opportunity arises

Take full control

No waiting on lawyers, no being lost on what your company contracts actually mean – Goodrays loves the fact that with SeedLegals, they:

• Have full visibility on all their startup essentials in one place
• Create, sign and share contracts whenever they want, without relying on anyone externally
• Easily understand what each contract and clause means

Learn and network through our community

Eoin began attending SeedLegals events and webinars three years before he started the company. That’s six years he’s been part of the SeedLegals community now, and it’s helped him:

• Build a strong network of other founders and investors
• Learn how to raise capital
• Gain insights on how to start and run a business

Eoin’s advice for fellow founders

“Time is your most precious resource. More so than capital. Spending your time efficiently delivers the best results and helps you stay focused.

Apply this to your team as well: where should they be spending time? When you’re in a startup with a small team and limited resources, the list of all the things you possibly do is infinite – it can be easy to work on the wrong things, so I think success is down to doing the right things at the right time.

When you prioritise your time efficiently and take things one day at a time, breaking everything down into small bite-size chunks, before you know it you’ll have compounding gains from that focus and efficiency. “

Find out how we can help you