Glen had an interesting model for the Sprout team to consider when he entered the programme in 2015. It was a new take on a traditional dairy farming model, allowing smaller landholders to be able to make an income from milking cows, using a specifically designed milking platform and selling direct to cafes.
Nine months on Glen says his trajectory has been slow and he’s doing the same thing but a little more of it.
He has more cows, having increased numbers from 35 to 55 cows. He’s in more cafes - 23 trendy outlets in the Canterbury region and his product now sits on the shelves of Foodstuffs supermarkets.
The monthly revenue has increased by $10k but ideally he needs to double that to be able to grow the business. “Having not raised capital to date has really hindered the growth plans for the business,” says Glen.
“Obviously our costs have increased due to more cows, and the introduction of an extra FTE but we need the investment to update the prototype and produce the second one. This would help us reduce costs as the job wouldn't be so labour intensive. We could quadruple in size in six months if we had the capital!”
The company hasn't filled the co-founder role yet but investigations for the role are underway. Glen is having lots of meetings and conversations in the next few weeks about this role and the businesses growth plans.
He wants to see the business in more cafes, with more cows, reduced costs but most importantly capital, capital, capital.