Supper Deliveries Limited (“the Company” or “SUPPER”) was established in 2015 by Peter Georgiou to be a unique delivery service focusing on quality and service for high-end restaurants. Its commercial metrics, and its lack of reliance on “gig-economy” workers, sets it apart from competitors and makes it a compelling investment opportunity in a highly attractive sector.
SUPPER is a super-premium, London based, on-demand delivery service. It operates in a lucrative niche with only the most sought after restaurants, including 9 Michelin starred venues, on exclusive contracts. Revenue is generated through commission from the restaurants and delivery charges. Just Eat has an average total order size of £17. SUPPER has an average order size of over £100, and a gross profit per delivery of more than £10.
High-end restaurants are willing to sign up to exclusive contracts as SUPPER can meet their exacting quality and brand standards. This is accomplished by operating a company owned fleet of specially designed delivery vehicles, gyroscopically stabilised trikes with computerised temperature, controlled food compartments. The drivers are trained and directly employed.
Some of SUPPER’s exclusive contracts with restaurants include: Hakkasan, Dinings SW3, The Ninth, 45 Jermyn St, Aquavit, Medlar, Zuma, Roka, Madera, Nobu, Coya, Som Saa, Park Chinois, Hide, Mosimann’s.
The demand for convenience and eating at home are in strong structural growth. The food delivery market grew by 35% in 2020 and by almost 150% over the last 5 years.
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While the business was already growing pre-Covid, lockdown has seen a significant increase in awareness of the service with monthly Gross Delivery Values (GDV) (a crucially important industry metric) now above £1m per month. Additionally, SUPPER now delivers for other high-end outlets, such as Harrods, Fortnum & Mason and Hedonism, to increase bike utility and to smooth demand.
SUPPER’s strategy is firstly to become the leading provider of delivery services for premium restaurants and other partners in London. This will then establish the basis for potential future launches across the world in selected locations.
The Company is seeking to raise up to £1.63m equity from Growthdeck investors to focus on the growth in London. This forms part of a total round of up to £5m, with the further capital allowing the Company to expand globally.