Editing THIS

[[File:This logo.jpg|thumb|THIS logo]]
'''THIS™ makes plant-based food for meat-lovers.'''

== Summary ==

* THIS is a company that's on a mission to change meat-eaters preconceptions of plant-based food.<ref name=":1" />
*It has a total of 11 products, all of which are plant-based foods.<ref name=":1" />
*The size of the global food market as of today (26th June 2022), in terms of revenue, is $8.3 trillion.<ref>https://www.statista.com/forecasts/1243605/revenue-food-market-worldwide</ref>
*The degree of risk associated with an investment in THIS is higher than in a company that's say trading on a public market (such as Beyond Meat).

== Operations ==
<vimeo>720733039</vimeo><ref name=":1" />

=== How did the idea of the company come about? ===
The idea came to the founders of the company when they were looking for an alternative to meat and were unable to find anything suitable.<ref name=":1">https://www.seedrs.com/this</ref> In their quest to create the most realistic meat alternatives in the world, the company was born.

=== What's the mission of the company? ===
THIS™ is on a mission to change meat-eaters preconceptions of plant-based food.<ref name=":1" />
===What's the company's main offering(s)?===
THIS™ has 11 products, all of which are plant-based foods.<ref name=":1" />

=== From which place(s) are the offerings able to be purchased? ===
The main places that the offerings are able to be purchased is through the company's website, major UK retailers, which is estimated at 10,000 retailers, leading UK restaurant chains, major wholesalers (such as Bidfood, Brakes, Wholegood, Blakemore, and VegExpress) and delivery retailers (such as Getir, Gorillas, Zapp & GoPuff).<ref name=":1" />

== Key accomplishments to date<ref name=":1" /> ==

* THIS is the fastest-growing meat-alternative brand in the UK (333% YoY)
* In under three years, THIS has gained listings in all the major UK supermarkets, including Tesco, Sainsbury's and Asda Morrisons.
* The repeat purchase rate of its products is 39%.
* THIS has raised £20m in funding.
* THIS is listed on the menu of some of the biggest restaurants and hotels in the UK, such as Caffe Nero, Premier Inn and Ask.
* THIS has had a significant amount of press coverage, with >600 mentions/features, reaching >1.4 billion readers.
* THIS is the first plant-based meat brand to feature on the menu of a UK Michelin-starred restaurant.
* THIS has >100,000 followers on Instagram.

== Competition ==
{| class="wikitable"
|+Competition comparison<ref name=":1" />
!Brand
!2021 sales
!2021 sales change
|-
|Quorn
|£170.3m
| -7.2%
|-
|Linda McCarthney
|£63.6m
| -4.6%
|-
|Cauldron
|£32.1m
|1.1%
|-
|Richmond
|£27.2m
|191%
|-
|The Tofoo Co
|£23.8m
|38.6%
|-
|Birds Eye Green Cuisine
|£19m
|64.8%
|-
|Vivera
|£17.3m
|4.8%
|-
|Beyond Meat
|£11.6m
|106.8%
|-
|THIS
|£11.3m
|333%
|}

== Fundraising ==
As of 29th May 2022, the company is currently in the process of raising funds, and the funds will be used to accelerate growth through increased brand marketing, innovation, manufacturing and working capital.<ref name=":1" />

== Share classes<ref name=":1" /> ==
The company has three classes of shares: Ordinary, Series A preference, and Series B preference.

Series A preference and Series B preference shares rank equally, and carry a 1x non-participating preference. On an exit or liquidation, the holders of the preference shares will receive the amount of their initial investment back first, and the remaining proceeds will then be distributed amongst all ordinary shareholders. The preference shareholders will have the option to convert their preference shares into ordinary shares.

== Financials ==
Based on January 2022 sales<ref name=":0">based on unaudited management accounts.</ref>, annualised revenue is £17.5million.<ref name=":1" /> No revenue figures have been provided for the most recent four months, suggesting that annualised revenue is lower now than before (i.e. in January 2022).

In terms of the source of the revenue, it's around a 70:30 retailer/restaurant split.<ref name=":1" />
{| class="wikitable"
|+Income statement<ref name=":1" />
!Year/Item
!Year 1
!Year 2
!Year 3
!Year 4
|-
|Year end date
|31/12/2018
|31/12/2019
|31/12/2020
|31/12/2021
|-
|Revenue
|NA
|NA
|£5.5m<ref name=":0" />
|£11.8m<ref name=":0" />
|}

== Team<ref name=":1" /> ==

'''Co-founder'''

[[File:Andrew Shovel.jpg|none|thumb|Andrew Shovel]]

'''Co-Founder'''

[[File:Pete Sharman.jpg|none|thumb|Pete Sharman]]

'''Managing Director'''

[[File:Mark Turner.jpg|none|thumb|Mark Turner]]

== Risks ==
As with any investment, investing in THIS carries a level of risk. Overall, based on the key risks highlighted below, the degree of risk associated with an investment in THIS is higher than in a company that's trading on a public market (such as Beyond Meat).

=== Early-stage investment ===
THIS is at one of the earliest stages of the business lifecycle, and the failure rate of companies at that stage is usually much higher than those at a later stage.

=== Illiquid investment ===
The number of transactions in shares of private companies is usually significantly lower than in public companies, typically resulting in it taking longer to sell shares in private companies at a price that is at least equal to the price that the shares were bought at. Accordingly, the THIS investment opportunity is considered to be higher risk than more liquid companies.

== Actions ==

To invest in THIS, click [https://www.seedrs.com/this2022/ here].

To contact THIS, click [mailto:shout@this.co here].

== References ==
<references />
[[Category:Thesis]]
[[Category:Equities]]

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