Been studying Huel quite a lot because of their strong similarities to what they have achieved to what we would like to achieve ourselves.
Yes their founder did initially have a strong capital going into the company... but their growth has been phenomenal.
It is interesting to see how the founder knew his flaws before launching the company. He was not a nutritionist... so he hired a nutritionist!
He wanted everything to be perfect and the results go to show that it has been a huge success. Julian (the founder) mentions the simplicity of the branding is attractive to a lot of people, the benefit of selling directly to consumers as opposed to begging to be listed in retailers allowed them to control their own destiny.
This is very similar to us how we want to have that control of the direction of our company so a ton of similarities there.
Further to this, he mentions the importance of hiring the right people for the company. This is great advice to take on board for our future when we look to recruit as it will massively impact the companies success. He mentions being 'mission based' helps attract the right people to the business. Also investing time and effort into the social media side both paid and organic growth. It reflects clearly due to their large Instagram presence of 120k+ followers. Great inspiration for myself to see the growth of this company in a 5 year window and the growth they continue to do. Overall, you see especially in the interview with the Huel founders, failures they hurdled before getting to launch. With manufactures letting them down to contacts not pulling through.
It is great to see now, the video below about their launch of their hot and savoury meals which attracted an impressive crowd during Covid times,
I must say. It is interesting to mention in Julians interview regarding how Huel received £20m in funding, he said that if you are growing year after year, investors will approach you.
He also added the importance of reaching out to a good legal team to really be crystal clear on everything you are getting into.
You also don't want to obsess on money as the more money you ask for investment, the more shares you give away from your company. So Julian said they raised once and hopefully don't have to raise again.
Most of that money is in the bank for a rainy day. Well I will finish off here by saying, I sure wouldn't mind having £20m sitting in my bank saved for a rainy day...
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