JV Newsletter #2
JV Network Membership launched ๐ | Partnership with Addition ๐ค | Hear from the founder of a traveling grocery store ๐ | & more!
Weโve launched JV Membership! ๐
As some of you have already noticed, you can now apply to be a JV member via our website https://www.jvnetwork.co.uk/become-a-member.
JV members will have access to the members-only section of our website, which will feature exclusive events (such as our Funding Prep & Financial Forecast Workshop with Addition - see below more info), discounts with our partners and other benefits!
Itโs currently free to become a JV member. Our only criteria is that you will support our joint venture to create a private market place that is also for women.
Weโre excited to have you onboard!
If you've previously subscribed for the newsletter or filled in a contact form on our website, you'll still need to register via our website through the link above to become a member.
Partnership with Addition ๐ค
Weโre delighted to announce that we have partnered with Addition, an outsourced finance team for SMEs and startups, giving small businesses the financial savvy of big ones.
Addition provides services across three verticals:
Core: consolidating the financial core of a business, checking past accounts, restructuring if needed and taking it from there.
CFO: CFO support ranging from forecasting to funding rounds.
R&D: Assistance on reclaiming R&D tax credits.
Workshops
Weโll be working with Addition to provide a series of workshops for our members on topics ranging from financial forecasts to valuations and pitch building.
The first of these, Funding Prep & Financial Forecast, will be held on 28 October. We will be giving members priority access before sharing with a wider audience - so make sure you sign up on our website to access our members-only page!
Follow the link here to reserve your space: JV x Addition Workshop.
Discounts
Addition will also be providing discounts for JV members on their Core and CFO services. These links will be shared on our members-only page.
Weโre really excited to be working with Addition to provide financial support for our entrepreneurs and canโt wait to build on this partnership.
If you have any other partners you think might be suitable for the JV Network, get in touch!
Events ๐พ
August
Last month, we grabbed drinks with Karen from Chimi Love (@chimi.uk), Nicole from Raye the Store (@weareraye) and Julian from Lemonaid (@lemonaid_uk). Karen brings the flavours of South America to England with her sauces, Nicole curates innovative food products in her concept pop-up stores and Julian has been pioneering the expansion of Lemonaid beyond Germany.
Upcoming - save the date!
Apart from the Addition workshop on 28 October, weโre also planning a couple of other exciting events:
JV Launch Party - 6 November 2021. Book your tickets HERE!
Evening @ Raye the store (see below for the story)
Stay tuned to our IG (@jv_investmentnetwork) and our members-only page for more info on our events!
Raye the store - Meet Nicole ๐
Raye the store is a traveling concept grocery store, showcasing hundreds of products from the most innovative and well designed food, beverage and home brands across London and the UK.ย Mostย goods are only available online and yet to launch into supermarkets or retailers.ย
We sat down with the Nicole, the founder of this innovative venture, to learn more about how she started her business and her learnings.
How did the first pop up aka launch go?
We opened our first pop-up store at the start of June 2021 in Spitalfields (London), with 200+ products on the shelfs of 50+ brands. The concept was received so well that it pushed me to leave my full-time Head of Marketing roll 4 weeks after. We received significant exposure via various cross-marketing efforts with all brands on the shelves.
What did you learn? What were the challenges?
Running a store like this for the first time came with many challenges and learnings.ย In my case - planning is absolutely key. Dealing with 50+ brands and delivers of 200+ goods requires coordination and clear communications. ย Having products delivered, that meant to be kept chilled at all times, before your rental fridges have arrived isnโt ideal. Luckily we were based in a busy area with many restaurants and pub where I managed to find some chilled storage space.
What would you do different next time?
Run the store for longer and host a range of in-store events. It takes time for the word to get out and people to make it down to the store. Thatโs why we will be opening our next store for 30-ish days this time, and host sampling session, talks, workshops, etc.
What was your highlight of the first pop-up?
The exposure generated for the brands on the shelve from two different perspectives.ย
Curious shoppers who discovered new products or finally found the products theyโve seen online but couldnโt find in grocery stores. ย
Welcoming buyers from larger supermarkets, such as Planet Organic and Sainsburyโs, which resulted in a listing for at least one of the brands!
Whatโs your vision for Raye?
To become the discovery destination for the latest innovative food, drink and wellness goods.ย
Iโm planning on hosting another 2 pop-ups in London before the year is out, building a team and ย launch an online offering.ย Next year Iโm hoping to expand into different UK cities and eventually introduce the concept to other European cities too. This will come with seeking external investment - at this stage raye is a cash positive, self-sustaining business.
What do you feel you need help with/support around?
I very quickly learned my strength and weaknesses. ย My professional background is in brand + marketing. Support on business development and accounting is something Iโm looking out for. From basic accounting policies to brainstorming about diversifying my business model to generate ย additional revenue streams.
If you or someone you know would be able to help, reach out to Nicole!
Your advice to other early stage founders?
Relationship building. Reach out to people, share you business and ask questions. No matter what stage you are at or what position the person you are chatting with has. Sharing your thrive and passion for what youโre creating and asking ย for help. You will be surprised who many people you look up to, ย are willing to give you their time and advise. Everyone started somewhere right!
That is all for this edition of the JV newsletter!
As always, get in touch with us if you have any suggestions and we canโt wait to see you at our next event!