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Foodist 2 | Overview

Each month, Foodist ships an exclusive selection of international delicacies to its customers for € 24 (including shipping). The Foodist box surprises subscribers each month with its assortment of products and enables them to discover exclusive gourmet products. The value of the goods in the monthly Foodist boxes surpasses at least 30€.

You are what you eat! In Germany, the trend to eat well persists. More and more people are willing to spend more money on high-quality groceries. We want to shape the growing market for high-quality groceries by means of our Foodist box, for it is our goal to find the best gourmet products for our customers.

The Foodist box subscription is at the heart of Foodist. Our subscribers receive a monthly box containing 6-8 delicacies at the 15th of each month and may eagerly anticipate the next gourmet surprise before that date. The box is available for € 24 a month (including shipping) and may be canceled monthly. The total value of the products is at least € 30.

The focus, however, is not on saving money. Instead, the Foodist box is intended to surprise customers and help them discover high-quality groceries. Our subscribers may look forward to extraordinary delicacies from Germany and other European countries selected by us each month. In each Foodist box, we include a magazine that explains the characteristics of and stories behind the producers selected. Customers may then reorder the individual products in our delicacy shop.


The February Foodist Box Containing Chocolates, Riesling Wine, Orange Fudge, Eggplant Cream, Nut and Fruit Dressing, Pitta Chips Chili & Garlic


Development since the First Equity-based Crowdfunding

In May 2013, we completed our first financing round on Companisto, raising € 175,000. Since then, we have not received any additional capital but have grown by means of our cash flow. Back then, we counted 350 Foodist box subscribers and generated monthly revenues of € 9,600. Both the number of subscribers and the monthly revenues have increased fourfold since the first equity-based crowdfunding!

At the moment, we have 1,600 subscribers and have generated monthly revenues of € 45,000 in February 2014. We will finish our first business year (2013) with gross annual revenues of € 304,000. If one considers only the last 12 months, our cumulative revenues even exceed € 381,000.


Development of Revenues and of the Number of Subscribers since the First Equity-based crowdfunding in April/May 2013


In May 2013, the average subscription period of our Foodist box customers was 4 months. We were also able to more than double this value. On average, Foodist box customers now keep their subscription for 10 months. This value will continuously increase in the future because we will improve our service and because there are already many subscribers who have kept their subscription for more than 10 months.

At the same time, we have been able to decrease the monthly churn rate from an average of 7% to 5%. This success is due to the precise analysis of the feedback form.

In total, we have shipped almost 20,000 boxes containing more than 100,000 products since the launch of Foodist. Because of our automated feedback systems (each customer receives a feedback form from us with each box), our Foodist box subscribers have answered more than 13,000 feedback questions.

We meticulously and continuously analyze the direct customer feedback and the information gathered, which enables us to regularly increase all important key performance indicators. Since the feedback from our customer helps us understand them very well, we are able to adapt the assortment of products in the box to their wishes and focus on the demand.


Significant Improvement of the Average Subscription Period and the Churn Rate


Because of the increased customer lifetime value (contribution margin realized by a customer during the entire „customer life“), we may now increase our budget for customer acquisition considerably. At the moment, the customer acquisition costs are approximately € 12, and the profit per subscriber amounts to € 53.

As a classic subscription model, we calculate the profitability of our customers by means of the contribution margin. Each month, we generate guaranteed revenues of € 24 because of the subscribers. After the costs for the products, shipping, packing, handling, and taxes have been deducted, an income (contribution margin) of roughly € 6.50 per month remains. The revenues and the contribution margin per subscriber increase due to reorders of individual products from the Foodist box and due to the additional sale of thematic Foodist boxes such as the Ladies’, Gentlemen’s, or Snack boxes.

Our customer acquisition costs are currently at approx. € 12. Consequently, the contribution margin in the first month of the subscription is still negative. As early as in the second month, however, a customer is profitable for us, which makes our business concept very scalable. Thus, each additional month ensures an additional profit.

This value will still increase significantly because there are many customers who have already been active for more than 10 months. Because of a further improvement of the contribution margin per box and of the customer lifetime value, the profit per subscriber will keep increasing.


Profitability of a Subscriber


International Expansion to Denmark and Austria

We already ship Foodist boxes to anywhere in Europe each month. Shipping outside of Germany was originally due to individual inquiries from the respective countries. This year, we want to adopt a proactive approach to internationalizing the Foodist box.

In this regard, we have already found a powerful partner in Ernst Eskildsen from Denmark, who is preparing the development of Foodist in Denmark with us. Foodist will probably found a subsidiary in Denmark, in which Foodist Germany will be a majority shareholder. The Companists participate in Foodist Germany by means of the equity-based crowdfunding and thus profit from the internationalization as well.

In Denmark, many people are willing to pay high prices for high-quality groceries. Compared to Germany, the general price level of groceries is higher in Denmark. Moreover, the Danes have an affinity for ordering groceries online.

Ernst Eskildsen was one of the directors of the Danish company Aarstiderne (, which is the market leader in cooking boxes in Denmark. While he was working there, the company shipped 120,000 boxes each month and generated annual revenues of more than € 30m. Foodist Germany will also benefit from his experience.

Because of the internationalization, we will achieve cost degression effects for labor costs because areas such as product scouting, purchasing, logistics, IT, and design may be controlled centrally from Germany. Therefore, the teams in Denmark and Austria may focus primarily on marketing, which is controlled locally in addition to customer management.

With regard to the products in the Foodist box, these will be 70-80% identical to the contents of the German box in Denmark and 100% identical in Austria. Moreover, the boxes will initially still be shipped from Hamburg, and we have been able to negotiate very good international terms with our logistics partners (Hamburg is an international logistics hub). Our partners in Denmark and Austria may also use the existing IT structures of our shop and the design.


Internationalization of the Subscription Model to Denmark, Austria, Switzerland, Norway, and Sweden


Why another Equity-based Crowdfunding?

In April/May 2013, our first equity-based crowdfunding round on Companisto took place. Back then, our expectations were exceeded by far. In 29 days, we were able to reach our maximum funding limit of € 175,000. At that time, 566 Companists participated in the then second largest equity-based crowdfunding in the history of Companisto.

We were able to benefit very much from this investment. In addition to the capital, we have particularly received valuable feedback and impressive support from our Companists the entire time. They were very important multipliers for customers, producers, and cooperators. Furthermore, we are still receiving many inquiries from the press, cooperators, or potential applicants because they have seen our profile on the Companisto platform.

We intend to use the capital to promote the internationalization of Foodist, to further expand our customer base, and to fully exploit the potential of the B2B market.

Another important argument for the second equity-based crowdfunding round, we think, is that Companisto and all Companists of Foodist believed in us at a very early stage.

The existing Companists are also supposed to profit from our growth now and to be able to participate again. Also, we want to provide new Companists with an investment opportunity, for Companisto has grown significantly since our last equity-based crowdfunding campaign as well.

Since we want to start promoting our internationalization this fall, the internationalization of Companisto also motivates us. We hope to expand our network in other European countries by means of international investors on the platform. 



Scalability of the Business Concept

The foundations for scaling our business concept were laid last year. In the logistics department, we have 300 m² of storage space at our disposal, where we are already able to pack up to 20,000 boxes each month with one employee and one marginally employed person. Our logistics partner DHL also guarantees us the daily pick-up of our packages.

With regard to the supply capacities of our producers, we can say that quantities of several thousand items do not pose a challenge to their production. The producers professionally operate their business with 5-35 employees on average and may add employees on a short-term basis if required by higher quantities ordered. Delivery periods from factories abroad to Germany, for instance, are 1-3 weeks after the receipt of the order on average.

The share of online grocery retail in total grocery retail in Germany will increase to 2.5 % in 2015 according to McKinsey & Company. This would correspond to revenues of € 4.4bn. Apart from this, the Foodist box subscription model can easily be transferred to international markets.


Scalability of the Business Concept


What Do You Intend to Do after This Equity-based Crowdfunding Round?

Scaling of the Core Business

After more than a year of experience using the subscription model, we know the decisive key performance indicators, the average subscription period, and the customer acquisition costs and have simultaneously identified the efficient marketing channels.

Based on this market expertise and by means of the funding, we will scale the number of Foodist box subscribers to up to 4,000 monthly subscribers until the end of the year.


Scaling of the Foodist Box Subscription Model to 4,000 Monthly Subscribers


Great Potential for Growth due to B2B Sales

Because of the 1,600 Foodist boxes we currently ship each month, we have achieved a powerful position on the German gourmet market. We may also use this position when it comes to testing the introduction of new gourmet products to the German market.

By means of customer feedback and reorders in the shop, we receive sufficient information in order to predict a tendency as to which products will sell successfully on the German market. This information is extremely relevant to a multitude of producers searching for suitable markets for their products. Since we are often the first retailer in Germany to offer the products, we are able to secure the right to exclusive distribution at an early stage.

In the future, we will sell the best-selling products to gourmet shops, hotels & restaurants, and select supermarkets. Foodist will thus also start accessing the lucrative B2B market for gourmet products.

Consequently, over the long term, we will profit from the fact that we conduct the market launch of the products by means of the Foodist box. Thus, we also satisfy the need of the producers to cooperate with us after the market entry through the Foodist box, for the (foreign) manufacturers are also constantly looking for partners who may introduce their products to the German market.

Please note
The acquisition of the offered securities and investments is associated with considerable risks and can lead to the complete loss of the invested assets. The expected yield is not guaranteed and may be lower. Whether it is a security or an asset investment can be seen in the description of the investment opportunity.
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If you have any questions about investing on Companisto, please contact our service team:

Toll-free phone number for investors calling from Germany:
0800 - 100 267 0

Companisto investors hotline:
+49(0)30 - 346 491 493

We are available Monday through Friday between 9 a.m. – 6 p.m.

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