Problem: With a growing number of American households having dual incomes, there is less time for working people to grocery shop and cook meals. Compounded by more Americans cooking after the pandemic, value-add meats are becoming more popular because they offer the benefit of time savings and ease of preparation. Solution: Well Seasoned has recognized this need and offers a wide variety of pre-seasoned high-quality meats delivered directly to the consumer’s doorstep. The hack to producing restaurant-quality meats at home is our subscription and a la carte offerings, that include a rotating menu of 20 individually portioned, pre-prepared meats that allow customers to cook restaurant quality meals with the best possible culinary results in the least amount of time. Products: Our ready-to-cook line includes deliciously seasoned meats that can be cooked in minutes, and our fully-cooked line includes items like brisket and pork shoulder that can take days to prepare, cutting the prep and cooking time down to 30 minutes or less. Pricing ranges from $4.95 to $6.13 per serving (depending on order size) and the meats are hand-picked by a fourth-generation family butcher, helping to ensure every portion meets our quality standards. We have deep roots in the food distribution and restaurant industry and are taking our sourcing, shipping, logistics, direct-to-consumer and food prep knowledge and network and applying it to Well Seasoned. Today, Well Seasoned is live nationwide with 20 rotating SKUs (see them at www.getwellseasoned.com). We have achieved over 7,000 boxes shipped since launch and have seen a 217% increase in sales YoY (Q1-Q3 '22 vs Q1-Q3 '21). Our 2023 forecasts project net margins of 62% and gross margins of 40%, with an established supply chain of previous vendor relationships and operations that we believe set us up for larger scale.
