Meet the business owners that transformed a £3,000 investment into a multi-million pound enterprise.
BUSINESSMEN have recounted how they turned a £3,000 investment into a £17.2 million profit.
The Skinny Food Co, a healthy food and drink company based in Nottingham, began with only three products in May 2018.
Wayne Starkey, 41, and James Whiting, 29, the company’s founders, already have over 200 goods and anticipate to make £35 million this tax year.
Since its inception in 2018, The Skinny Food Co has seen its annual revenue more than double.
Both founders think that their lowly beginnings inspire them to pursue their dreams.
Mr Starkey grew raised in a one-bedroom council apartment and only completed one GCSE, whereas co-founder Mr Whiting claimed that his entrepreneurial drive was sparked by tragedy.
Mr Whiting’s son was stillborn in 2014, so he started working 16-hour days as a freelancer to get away from it, which is how he met Mr Starkey.
“I was working for six or seven different enterprises at the same time, often putting in 16-hour days,” he explained. It was a coping strategy for me, and it was through it that I met Wayne.”
Mr Whiting’s grandparents and mother died as a result of this. While the day-to-day hardships are understandable, he is motivated to make them proud with The Skinny Food Co.
After seeing family members forced to give up their favorite foods due to a lack of alternatives, the couple invested £3,000 in the firm in May 2018 with the purpose of providing options for diabetics.
They started with just three products: ketchup, barbecue sauce, and Chip Shop Curry, which were all gluten-free, fat-free, dairy-free, vegan-friendly, diabetic-friendly, and had no added sugars.
The Skinny Food Co achieved a £1.5 million profit in its first year of operation and sold over one million items.
Sauces, culinary sprays, flavored coffees, and fakeaways are among the 222 goods available, some of which may be bought in supermarkets such as Morrisons and Co-op.
As a result of this expansion, the company can now serve customers who aren’t diabetic.
Vegan, gluten-free, high-protein, weight-loss, and keto-friendly, as well as diabetic and sugar-free, are now available at The Skinny Food Co.
Mr Whiting was named to Forbes’ current ’30 under 30′ list, and the two have been invited to participate on Dragon’s Den twice.
“It’s still difficult for me to turn off and.”Brinkwire Summary News”.