Production
Found is the only independent beverage company produced by Danone Waters, bringing an overwhelming advantage in cost structure, margin and scalability.
Distribution
Found has nationwide distribution networks enabling full coverage of the USA (Sysco, Compass Foods, UNFI as well as local independent distributors).
Operations
Found is majority family owned & managed, since 2007. The business runs on a variable model that incurs only revenue generating costs.
Licensing rights
In 2020, Found’s 5 year licensing agreement to brand management company BWR came to an end. Found now has once again regained full control of the strategy & distribution of the Brand in the USA.
The COVID pandemic
The COVID Pandemic changed the landscape in the beverage industry. The gradual movement we were seeing towards online exploded overnight. Many brands, both old & young, who relied on the retail sector have become casualties of the pandemic, creating unprecedented opportunity to win market share for those nimble enough to pivot.
Gen Z - a new native customer
Over the last few years GEN Z'ers have entered the work force, and at Found we have seen a significant opportunity arise in this new digital, truth seeking cohort. Conversion on new platforms (TikTok & Snap) is exceeding 14%, yet brands are yet to properly engage.
Found Bubbly Mission
As a purpose driven brand we believe we can play a small role in making the world a bubblier place. We know that laughter, compassion, and a positive mindset is contagious so we do our bit in helping spread it by rewarding and instigating Bubbliness.
Stand out packaging
Found is one of the only brands in the sparkling water segment that can be competitively priced in a glass bottle, making it standout on shelf as a premium brand, a position that VOSS once held, that is open for the taking now.
DTC, On premise & Retail
2,000+ doors (Food service & Retail) will be re-activated by the strong national distribution network in place.
A DTC eco system led by an innovative campaign #bubblyme challenge will that instigates trial and nurture loyalty.
Zero Calorie & 0% alcohol
A zero Calorie product naturally sparkling flavored mineral water, with no sweeteners added. With a 0% alcohol call out we also increase the occasions the range can be enjoyed it & add a sense of premiumness to the brand.
Collagen 10g & Zero Sugar
After nearly a year of R&D Found will launch one of the only Sparkling Collagen waters on the market today. With 10g of Bovine collagen Peptides & a "Floral Citrusy" (Elderflower + Lemon), this will be the first naturally sparkling mineral water collagen product in the market. With its holographic sticker it will also be the most stand out one.
Direct to Consumer
Avg. Sell Price: $30 p/c
Avg. COGS: $5.00 p/c
avg. Gross Margin: 82%
Wholesale
Sell Price: $10.00
COGS landed: $5
Gross Margin: 50%
Forecast Summary | $300,000 USD financing Scenario
The model below has been developed with a financial injection of $300k USD of which 80% will be invested into the Direct to Consumer Channel. The Wholesale frame work is already in place, only requiring minimal funding to capitalise on opportunity. Product production works on a positive cashflow cycle with low costs & high margins.
Jul '21 - June '22
- Re-activate the 2000+ pre-covid retailers.
- Build the Direct to Consumer channel to 17k orders a year.
Total Sales: 80k cases | $1.1M
- Direct to Consumer : 17k cases | $481k
- Wholesale: 63k cases | $635k
Gross profit: $712k
Yearly operating costs: $754k
Net Profit: -$54k / -5%
Jul'22 - June '23
- Scale up Direct to Consumer channel, with strategic investment in high ROI channels.
- Win key Fast Casual & retail business
Total Sales: 186k cases | $2.9M
-Direct to Consumer: 60k cases | $1.6M
-Wholesale: 126k cases | $1.27M
Gross profit: $2M
Yearly operating costs: $1.44M
Net Profit: $541K / 18%
Jul '23 - June '24
- Further scale in Direct to Consumer channel with ramping up in outreach spend on high converting platform.
- Win key Fast Casual & retail business
Total Sales: 330k cases | $5.8M
-Direct to Consumer: 140k Cases | $3.88M
-Wholesale: 190k cases | $1.9M
Gross profit: $4.1M
Yearly operating costs: $2.47M
Net Profit: $1.66M / 29%
2018
In 2018 Found continued with strong momentum (+58% YOY) through distribution in top brands (Google, Facebook & LinkedIn offices, and top hotel chains & cafes).
2017 Rev $441k (+32% YOY)
Retail/On Premise: 87.5k cases | $700k (avg. sell price $8 EXW)
Gross profit: $451k
Yearly operating costs: $193k
Net Profit: $258k / 37%
2019
The expected 120K case sales target was not met due to financial hardship encountered by BWR, the master licenser. BWR was eventually acquired by New Age (NBEV) a public company. Post acquisition, significant cuts to the operational structure of BWR ensured Found became collateral damage like many others within BWRs portfolio.
Retail/On Premise: 66k cases | $528k (avg. sell price $8 EXW)
Gross profit: $344k
Yearly operating costs: $271k
Net Profit: $73k / 14%
2020
After a disappointing 2019, the COVID pandemic shutdown the on-premise sector, which equated for 75% of business. FOUND essentially hibernated into a no-expense / no activity model and worked strategically on this next phase.
Retail/On Premise: 27k cases | $219k (avg. sell price $8 EXW)
Gross profit: $119k
Yearly operating costs: $58k
Net Profit: $61k / 27%
Found is led by founders, Mark De Luca & Onur Kece. Now with 15 years experience in the beverage industry, the pair have achieved great success in the F&B segment as entrepreneurs, high level consultants, leaders and innovators.
Mark is the Director of Operations and New Product Development for The Stanley Brothers, the pioneers of the CBD & THC wellness empire. Mark is strategically and operationally focussed with expertise in distribution, sales, and innovation in the F&B category spanning over 18 years. Mark will manage offline operations, distribution and logistics of Found Bubbly.
Onur Kece runs one of most innovative brand growth consultancies with specialization in the F&B Segment (The Refreshment Club). He carries a wealth of experience and a proven track record in creating & building consumer loved brands. His team at The Refreshment Club will be managing the development and execution of the Found Bubbly brand strategy & communications.
With a background in inventory planning, DTC strategy & management, Eren will be the head of digital operations for Found Bubbly™. Previous to this role Eren was the Global Head Of Digital for Honey Birdette, and played a key role in creating a $20M e-commerce business in just 5 years. In his current role as the head of digital & strategy at french luxury brand Heimstone, the brands growth rate has accelerated to triple digits YOY.
