Subscription Box | Pet Healthcare
Pet ownership in India has grown multifold in the last decade. The proliferation is primarily because of the expanding urban middle class. While this trend fuelled the allied verticals such as pet food and cosmetics, preventive healthcare largely remains neglected. A significant share of people turns pet owners because it’s a status symbol. The pet owners often abandon their old pets as the cost of health care, vaccines, and medicines multiply when pets age. The client wanted to tackle this problem head-on with India’s first preventive health service for pets. Wiggles offered pet owners subscription box that contains medicines and supplements. The client was looking for an advisor to draw out a detailed business plan for raising seed fund.
The founder had a rough idea about the size and characteristics of the market. However, he needed more in-depth insights into customer needs, target markets, and possible revenue streams to make an informed decision. AlphaValley team analysed business models and potential revenue streams for Wiggles. The research helped Wiggles to make an informed decision.
The next step was to develop a comprehensive business plan. AlphaValley team worked closely with Wiggles team to calculate the costs, finance requirement, and monthly cash outflow. We developed a revenue projection framework that presented potential revenues in different scenarios. Subsequently, we prepared pro forma statements and monthly cash flow statements.
Being an idea-stage startup, the Wiggles team knew that valuing the firm won’t be feasible through a conventional discounted cash flow method. We performed the valuation analysis by using relevant techniques such as venture capital method, recent transactions, and multiples analysis of listed firms.
Wiggles raised $500K in the seed round based on the information memorandum and pitch book prepared by us. They beat their projected quarterly numbers and established Wiggles as the go-to brand for pet parents in select cities. See below some scrubbed slides from the investor presentation.
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