The world’s first global fusion dumpling brand with exponential growth opportunity
- Significant growth opportunity presented by globally scalable and repeatable business model
- First mover advantage with a unique and innovative concept
- Benefits of start-up investing, yet with a tested and proven product
- Strong and capable management team with proven track record and hands- on involvement in the day-to-day management of the business
- Favourable industry dynamics on balance Diversified distribution and sales channels Strong expected financial performance Ability to localise and specialise the product
- During 18 months of operation, the restaurant welcomed more than 1 million customers, served up more than 8 million dumplings and turned over approximately $3.2m in revenue
- Onset of COVID-19 moved Drumplings to a wholesale model of distributing frozen cook-at-home Drumplings with more than 500,000 dumplings sold to over 3,000 customers
Drumplings currently supplies Foodworks and Farmer Jack’s in Western Australia and has started supplying Woolworths Metro stores in the Melbourne CBD, and is in advanced discussion to supply Woolworths, firstly in Victoria, then nationally. Demand from the Metro stores in particular is growing significantly.
Drumplings has secured their first Micro-Model store at 55 Swantston Street Melbourne and looking to set-up two more.
Set to open in August 2022, Swanston Street is positioned in a high foot traffic street in Melbourne.
Drumplings has a significant online presence and retails via iPantry and CO/LAB Pantry directly targeting the end consumer.
It is envisaged that, once sufficient domestic market penetration has been achieved, Drumplings will look to the export markets to take advantage of strong growth expected in the global markets. With success stories like Bigigo Dumplings, Drumplings is looking to tap into the export market sooner than later.
4,600,000 fully paid ordinary shares at A$0.50 cents (which represents 30% of the issued capital) with a 1:1 free attaching option exercisable at A$0.50, expiring on 31 June 2025.
Use Of Funds
Drumplings is seeking capital to continue to grow the Drumplings brand and concept.
The proceeds from this offer will be predominantly used to continue the roll-out of the Micro-Stores and increasing brand awareness.
- Development of Micro-Stores 2 to 5 – A$1.2M
- Buffering up cash resources for approval by the majors – A$1.1M
Drumplings is a unique modern dumpling brand that offers a global twist on a traditional classic by combining the humble dumpling skin with some of your favourite classic dishes. Think Cheeseburger, Mac & Cheese, Beef Rendang, Truffle Mushroom and Pepperoni Pizza, hand wrapped into a dumpling.
Drumplings vision is to establish a low cost, high return, globally scalable and repeatable business model via a multifaceted distribution model of wholesale, retail (online and owned micro stores) and a franchise model.