Previously on Parity Oat Milk
Oat milk is a kind of plant-based milk derived from whole oat grains. For people who have lactose intolerance or an allergy to cow milk, it is a good option. It also has relatively low environmental impacts due to its comparatively low land and water needs for production. Unfortunately, In Taiwan, you can buy a bottle of 936ml dairy milk for NT$90. But, it costs you at least NT$189 to buy a 936ml oat milk which is almost twice as much since they are imported from western countries.
However, I think it should be an affordable product and cheaper than it was. I want to start up a company with a mission to bring much cheaper and also high-quality oat milk for the people in Taiwan. Everyone should have the freedom to choose oat milk for their favor or health rather than be limited by their living conditions or income.
What Sources of Funding Might Be Available?
i. The government
In Taiwan, some government departments provide startup loans with relatively lower interest rates. However, it often needs tons of paperwork.
ii. Finacial Institutions
Many banks in Taiwan also provide startup loans for entrepreneurs. They are very similar to what the government departments are doing, but they often require less paperwork and higher efficiency. However, they often charge more on the interest.
iii. Venture Capitals
Good venture capitals often look at the bigger picture. They tend to grow with startup companies to maximize the profits rather than fixed monthly payments of interest. However, they may require some shares of your company to gain further profits in the future.
Approximately How Much Money Is Needed?
Sums up the plants, the raw materials, the marketing team, the administration, customer services, and the loyalty program, approximately more than three hundred million dollars(NT$) is needed in the beginning. After the plant starts to manufacture, wages, raw materials, electricity, taxes, ads, and inventory are all regular payments. So, we also need at least ten million dollars(NT$) per month to ensure the company can operate smoothly.
Why Choose that particular source?
I think, as a startup company, I tend to choose venture capitals as my major source since they focus more on the business idea rather than just investigate your previous credibility and your solvency.
How To Convince The Potential Funders To Invest?
Create an elevator pitch will help and I have created one before.
Example:
"Hi, I'm Bruce. CEO and founder of TZUYI HUANG'S Group. Honor to meet you here. I am seeking an opportunity to launch cheaper oat milk products to fill the needs of affordable oat milk. Almost every oat milk lover, vegans, or in cases of medical conditions such as lactose intolerance or an allergy to cow milk has one feeling in common. Oat milk is just too expensive. So, what we do is to produce a cheaper oat milk product without lowering the quality. There is a huge potential waiting for us. My company is already on the way to disrupt. So, my question is, will you join us?"
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