Startup Horror Stories
There were no tricks, only treats for founders at this special Halloween event co-hosted by Spice Startups and SeedLegal...
We caught up with Mark
Pratt, founder of ParcelPet, the subscription box service aiming to keep UK pets healthy, one parcel at a time. ParcelPet’s founders Mark and Nicky, recently closed their first round, ingeniously raising funding by leveraging their Linkedin contact base.
A: Parcelpet is all about making pet owners lives easier through a bespoke food delivery subscription. Not only that, but we put pet nutrition at the forefront of our mission, meaning that our food is full of goodness and free from nasties. It’s a win win for both pet and parent!
A: All 3. It’s all well and good having a passion, but there needs to be a market for it. The subscription trend was our market opportunity, the problem we identified was dog and cat owners running out of pet food. All of this meant that our passion could be a reality.
A: We’ve found investors through both mine and my co-founder Nicky’s personal connections on LinkedIn.
A: I think that it was a combination of both myself & Nicky as well as the product. Subscription services are an upward trend and catering to pet owners needs makes it a fool proof product.
A: It’s all about professional presentation. Without this, you won’t seal the deal. You need people to believe in you and the rest will follow.
A: Tip no 1: SEIS/EIS makes it virtually no risk for investors
Tip no 2: Dedicate time daily to manage your round as a project
Tip no 3: Be transparent about risks and weaknesses. It is far better for you to highlight them that someone else. Being able to identify risks and weaknesses indicates a thorough knowledge and people will therefore take you more seriously.
A: Growth. We’ve been laying down the groundwork and we’re ready to ramp up our customer numbers before our next round of funding.