CSE’s James Black had an opportunity to chat with the Very Good Food Company (CSE:VERY) Founders James Davison and Mitchell Scott on the eve of their Canadian public listing to discuss The Very Good Butcher brand and much more. Here’s what they discussed on this episode of #HashtagFinance:
1:52 – How James was inspired to apply his culinary skills to produce very good food after being uninspired by incumbent vegan offerings.
3:04 – James describes what’s in the food (not meat!)
3:57 – What makes their product better than others in the plant-based food arena.
4:40 – What James had to learn, and unlearn from his 13-year culinary experience when it came to making a satisfying product.
6:25 – The key role that the farmer’s market on Denman Island, BC played in the company’s ability to product test their recipes.
8:16 – What happened after the company moved to Victoria, BC and opened the first Vegan Butcher Shop on the west coast of Canada.
9:39 – How non-vegan butchers reacted to the company.
11:26 – How they used Kickstarter to fund and expand their company.
12:53 – Why they pitched the company on Dragon’s Den and what happened after they reached handshake deals from the 5 of the Dragons.
13:45 – Why they turned to FrontFundr for equity crowdfunding to avoid VC investment.
14:32 – How the delivery of a “stuffed beet” led to a $2M financing and path to public markets.
15:51 – Plans for expansion including a new “HQ” in the Mount Pleasant neighborhood of Vancouver.
16:48 – How the business model for plant-based meat compares to conventional meat products.
18:35 – Plans for brand expansion including The Very Good Cheese Co.
19:31 – Their alternative to chicken wings that utilizes cauliflower.
20:54 – How traditional meat-eaters respond to their product
21:09 – Utilizing food tech for quality scalability.
22:40 – The global appeal of plant-based eating.
23:29 – How COVID contributed to its growth and demand for their product.
26:05 – The company’s shipping capabilities across North America.