Timmy’s Pies, the luxury pie producer, has launched a crowdfunding campaign to fund growth plans.
Located on crowdfunding website Angels Den, the campaign hopes to raise between £80,000 and £100,075 to pay for a some key pieces of kitchen equipment including a new oven, dough shooter and blast chiller. The company is also looking to hire more staff, both in the kitchen and administration departments.
Angels Den works by getting experienced investors to thoroughly survey the business model and pitch of any company hoping to raise money through them. These investors then make an initial investment by buying shares before opening the opportunity up to the public. Timmy’s Pies is offering a maximum of 20% of the company’s shares, with a minimum individual investment of £500.
Timmy’s Pies is primarily a wholesale company, supplying a variety of London delis, cafes, pubs and bars as well as the Selfridges and Harvey Nichols food halls. It also sells from several London food markets and its own website.
Timmy Wilkes, founder of the company, said: “We have a three year business plan to get us through a growth period so the revenue would come in there with the sale of the business or dividends.”
He added the company would like to enter the retail market more but that any plans were firmly in the future.
He said: “Bricks and mortar is something we would love to try but that would involve bringing someone on board with more experience in that area.”