Open Projects
Portuguese Condiments
Share
6.000 €
Settled by the promoter
instalment
monthly
term
3 years
yearly interest
5.6%
risk rating
C+
Bornoftwenty is a company created during Covid quarantine. Its founders wanted to produce condiments and other food products using traditional Portuguese flavors in a creative way and in line with food trends in Portugal and abroad. The Portuguese Condiment Company (PCC) brand was born to make and sell condiments, beverages, and other products under development.
The promoter imported organic seeds of exotic hot peppers that do not exist in Portugal to be planted and cultivated for the company at Quinta Vila Caíz, a small family-owned organic farm in the Amarante area, certified by Naturalfa. These seeds were imported from the United Kingdom, Australia, and the United States. Among the species, we can find Smokin’ Ed’s Carolina Reaper, one of the hottest species of peppers in the world, famous in the United States. The goal is not only to use these hot peppers as ingredients in new products but also to sell the peppers and their plants.
Quinta Vila Caís and the agricultural cooperative Orgânicos, to which they belong, are the suppliers of all fresh ingredients used, by the promoter, to make the condiments and drinks. These ingredients have organic certifications, but it is not possible to keep them after they have been handled and transformed.
At the moment approximately 60% of all ingredients are produced in Portugal. The promoter’s plan is to progressively increase this percentage. However, it will not be possible to reach 100%, since some spices, such as cinnamon, are not produced in Portugal. All the ingredients used, even the non-Portuguese ones, are bought from Portuguese companies that guarantee a sustainable production chain, and organic products and that follow the same care when choosing their partners. The supplier of powdered spices, who is not part of this cooperative, is certified by ECOcert.
PCC also intends to eventually become the producer of some of the ingredients that do not exist in Portugal, filling a market gap and seeking an opportunity to explore the commercial B2B and B2C possibilities of this activity.
The demand for diversified, unusual, and unique condiments has been growing exponentially both nationally and internationally. It is increasingly common for people to explore different recipes at home, and chefs, in signature restaurants, are also expanding the portfolio of differentiating elements in the dishes they create. The condiments produced by the Portuguese Condiment Company, therefore, respond to a growing trend in the market. It is also possible to observe an increasing demand for natural, non-alcoholic, and healthier beverages.
After an R&D phase focused on production processes and taste tests, PCC concluded the production of the first batch of products, which was done in an artisanal way. The owners now want to buy industrial equipment to optimize the production process for the next batches. The goal is to achieve more efficiency, and scalability and to create new products. The commercialization of the first batch will begin now, in September 2021, in the promoter's physical store, located in the city of Porto and in the online store currently under development.
In addition to selling its own products, the promoter invested in buying an inventory of other food products, produced by third parties, that fit the philosophy of sustainability and quality advocated by PCC. These will also be available for sale, both in its physical store and in the store online.
Direct:
Indirect:
The project for the production and marketing of condiments, non-alcoholic beverages, and other food products will require a total investment of 65,000€. The loan obtained through Goparity will co-finance about 9% of that amount, the rest will be financed through the promoter's own capital (about 20,000€) and later by equity from investors.
The promotor hired a chef and consultant, who has worked in several renowned restaurants, such as Fortaleza do Guincho, Ocean, Enoteca in Barcelona, Bon Bon, and Belcanto. The chef will focus on developing recipes using PCC’s products and is responsible for expanding the brand to HORECA, a distribution channel, which is expected to have significant weight for the company's commercial success.
With the investment in new equipment, the promoter will be able to accelerate and optimize its production process. After moving to that more advanced stage of its business plan, the promotor wants to search for an investor (equity) and develop other production lines and R&D for vegan and organic food products.
Sales in the physical and online stores will begin during September 2021 and will be used to repay the loan. The promoter's plan is to repay the loan in full in 2022.
Download Key Investment Information Sheet
Shareholders' pledge
Bornoftwenty Lda is the registered company behind the brand Portuguese Condiment Company (PCC). This brand brings together entrepreneurship, the love for food and catering, and a focus on social, economic and environmental sustainability. PCC produces, sells, and experiments with products such as hot sauces, powdered condiments for food and beverages, and non-alcoholic drinks.
Sustainability Above All
Global warming and its causes, such as pollution resulting from the abusive use of plastic, are topics increasingly present in our lives. At the same time, we are witnessing growing awareness among consumers regarding: their choices when shopping, the ingredients that make up the products they consume, and how they are produced, packaged and distributed. Consumption that is based on respect for society and the environment is expanding and is increasingly represented by new and old brands whose mission is to create positive impact.
Besides truly believing that sustainability is the essential baseline for everything we do and buy, the Portuguese Condiment Company is focused on the following goals:
To start:
In the medium term, PCC intends to
In the long term
The Founders
Mariana and Ryan have been friends and business partners in the wine tourism field for several years. Both have a strong entrepreneurial spirit and considerable experience working in several business areas both in Portugal and abroad.
Mariana is Portuguese but has lived and worked in several European countries and in New York City, USA. Her background is in marketing and advertising, and she has diverse working experience, having been involved in organizations ranging from micro-companies to multinationals. Mariana is one of the few professionals that is a "Certified Food Travel Professional by the Food Travel Association", she is also the founder and CEO of one of the most sought-after food-tourism companies in Portugal.
Ryan is American but has been living in Europe since 2005 and was recently granted Portuguese citizenship. He has been working with wine for over 25 years, having held various positions in different types of related businesses. His experience as a chef, and deep knowledge of wines, make him a person in constant search for new flavors, focused on more sustainable products. Ryan and his family have been living full-time in Portugal since 2013, where he founded a tourism company specializing in Portuguese cuisine and wines. and just published a book entitled Foot Trodden about Portuguese wines.
Bornoftwenty produces and retails natural, organic, sustainable, and high-quality food products produced in Portugal.
The promoter intends to achieve the production of twelve types of products in one year, with sales of 500-1,000 units of each product per year, within 2 years and reach an annual turnover of 180,000€ in the same period. To reach these goals, the company will start selling its products in the physical store in Porto, in the online store, and in other niche food stores in Porto and Lisbon.
The founders will very soon present their products to the community of fine dining and signature cuisine chefs and restaurants, which, according to a market study, will be interested in buying Portuguese Condiment Company products. Next year, in 2022, the plan is to open exportation to the USA.
The store in Porto will host regular workshops with various themes, taught by the founders themselves or by specialists on topics such as sustainability, fermentation processes, or zero waste in the kitchen. PCC will also organize Flavor Trips, i.e., tastings, of existing or potential products. The goal is to create a community around the store and explore new flavors. The store is called The Lab and intends to be an experimental place for the creation of new ideas and products.
Active since
2021
Fiscal country
PT
Operating In
Portugal and the European Union
Industry
Food & Beverages
Number of Goparity Loans
1
Women Shareholders
Yes
2024-01-04
This project has successfully reached its payments plan maturity. All investors have received their full capital invested and interest. Nevertheless, its impact will keep growing for many more years!
2021-11-01
First instalment was paid to all the investors
2021-09-29
122 investors successfully raised 6.000€
2021-09-28
This campaign is open for investment