Introducing HomeCooks: From a Facebook group to a thriving marketplace for chefs
In the midst of the COVID-19 lockdowns in 2020, a Facebook group was formed with the simple goal of providing healthy meals to individuals nearby. This group has now evolved into a comprehensive marketplace for chefs, known as HomeCooks. This platform streamlines the entire process from cooking to delivery and boasts over 200 meal options for its customers. Recently, the company successfully raised $3.2 million through crowdfunding on Seedrs.
Positioning itself as the “Etsy of food,” HomeCooks has seen rapid growth and currently serves around 7,000 customers. Let’s delve into the story behind their successful crowdfunding campaign.
Quick spoiler alert: This 25-slide deck is a bit on the lengthy side, but it is also one of the most impressive pitch decks seen in a long time.
We are always in search of unique pitch decks to analyze, so if you have one, let us know how you can submit it!
Slides in this deck
The company has generously shared their entire 25-slide deck without any redactions or edits. Here is the breakdown:
- Cover slide
- Mission slide
- “The Etsy of Food” slide
- How it works for eaters slide
- How it works for food creators slide
- Revenue and traction metrics slide
- Problem interstitial slide
- Problem for eaters slide
- Problem for food creators slide
- Solution for food creators slide
- Market size slide
- Competition slide
- Competitive advantage slide
- Food waste slide
- Business model for food creators slide
- Food creators growth slide
- Business model slide
- Product slide
- User acquisition slide
- Team slide
- Plan/use of funds slide
- Revenue growth and expansion plan slide
- Closing interstitial slide
- Social impact slide
- Closing slide
Three things to love
While not a flawless pitch deck, HomeCooks has managed to create an incredibly successful one. Here are a few highlights:
Threading the marketplace needle
Marketplaces are notoriously difficult to launch and maintain. They require a delicate balance of both buyers and sellers to be successful. However, attracting one without the other is a challenge termed as the “chicken-and-egg” problem. Additionally, maintaining a balance between supply and demand is crucial, as too much supply can lead to lower prices and dissatisfied sellers, while too little can frustrate buyers. HomeCooks has shown that they have successfully navigated this challenge.
A sustainability angle
In a recent rant, it was discussed how many founders tend to overlook the importance of sustainability in their pitch decks. This is why it is refreshing to see HomeCooks take a different approach. While the claims of reducing food waste by 5% may be debated, the company effortlessly incorporates a sustainability element into their fundraising narrative.
A hell of a team
Buried deep in the 20th slide, HomeCooks reveals a surprise that truly sets them apart. The founder and team have invaluable experience in relevant industries, and they have acquired knowledgeable advisors and investors who understand the market. This type of founder-market fit is crucial for success.
Stay tuned for the rest of the teardown and the full pitch deck analysis!
