Everytable
Reimagining fast food with fresh, nutritious meals everyone can afford.
Overview
Raised: $304,618
Total Commitments ($USD)
Republic
01/29/2018
04/01/2018
$25
SAFE
RegCF
$30,000,000
10%
Rolling Commitments ($USD)
04/28/2018
$4,994
853
2015
Food, Beverage, & Restaurants
Los Angeles, California
Do you love the convenience of fast food...but hate the unhealthiness of it? Or do you live in a place where nutritious food is hard to find? If you said yes, then investing in Everytable could be the move for you. They’re reinventing fast food in a fresh, healthy, and revolutionary way.
The Company:
Everytable is here to revolutionize how we think about fast food. In their words, they aim “...to redefine the food landscape the same way McDonald's did fifty years ago. But this time, instead of burgers and fries, we are selling nutritious, fresh food, at fast-food prices.” This restaurant chain centers around the innovative idea of selling fresh, chef-crafted meals at fast-food prices. So far, they have locations in both food deserts and affluent areas. Buildout costs are less than $200,00 per location, and they’ve already raised over $10M from investors, including Lerer Hippeau Ventures, TOMS Social Enterprise Fund, and Acumen America. Plus, their Yelp rating is 4.5 stars, and their menu offers options like gluten-free Cajun Blackened Fish, Jamaican Jerk Chicken, and Ensalada Fresca. Fast food that’s affordable, healthy, and tasty? Sounds like that’s something we could all use second helpings of!
The Bottom Line:
Business Insider said that Everytable is “One of the chains disrupting the fast food industry.” They’re making it so that every table is full of affordable and accessible nutritious food -- even when you’re on-the-go. Talk about a fast food revolution!
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Problem
In the US alone, obesity-related healthcare cost exceed $200 billion per year. Unsurprisingly, US fast food revenues exceed $200 billion per year as well. It’s uncanny how much those two staggering numbers align. The reality is, one of the biggest drivers of obesity in the US is our diets, which have been keenly shaped by the fast food industry since the 1950s. Unfortunately, we have a growing income inequality issue in this country as well. Which means that although there is a rising number of healthy food options coming to market, they often outprice the buying power of low and middle income Americans.
If you’ve ever shopped at a Whole Foods, or bought a salad from Sweet Green, you know that feeding a family healthy food on a consistent basis is not sustainable at the exorbitant prices that they charge. Recently, it was cited that Whole Foods is typically 15% more expensive than traditional grocers. And typically, a SweetGreen or Veggiegrill meal, will cost you $10 for an entree, versus the $5 that a McDonald’s or Pizza Hut entree will cost. Thus, the $200+ billion fast food industry is in dire need of a solution that is both balanced in ingredients and in price for consumers who need access to affordable, healthy foods.
Solution
Everytable is working to flip the script on the notion that healthy foods have to be expensive by inventing a category of fast food called, “Affordable Healthy.” Through a business model that applies varied pricing based on affluence of neighborhood, and a cost reduction program focused on centralization / distribution, Everytable is finding a way to make healthy food affordable and accessible for all!
Across socio-economic bands, customers are showing their love for Everytable and it has fetched near five-star ratings across every recommendation platform out there. It has also caught the eye of famous investors such as TOMS Social Enterprise Fund, Anchorage Capital, and Kimbal Musk (Elon’s brother), as it continues its mission to democratize healthy eating.
Why We Like it
- Sustainable Business Model: Everytable has made “affordable healthy” a sustainable business model by implementing two levers to optimize the top and bottom line. The top line is maximized through a pricing schema where customers in mass affluent locales pay more for meals, than those in low income neighborhoods. The varied pricing schema helps to provide affordable pricing to customers who can’t afford $10 entrees, while still being profitable at the aggregate level. The bottom line is minimized by centralizing meal production to one facility that services tens of locations. This reduces in-store overhead cost by tens of thousands of dollars a year by reducing store footprint, employee count, and installation / maintenance cost. The company is quickly proving that this model can work with $1M in CAPEX spend on 5 locations that will have $2M+ in run rate revenue in 2018.
- Effective Distribution: In addition to its store strategy, Everytable is developing distribution deals with grocery stores, hospitals, and gyms to provide their healthy meal offerings in a quick to-go setting. This expands the reach of the product with minimal overhead cost while helping to build brand presence and loyalty.
The Leadership
Sam Polk: Sam, is the Co-Founder & CEO of Everytable. He just happens to also be a recovering Hedge Fund Trader that ditched the high finance life to build a non-profit called Groceryships. The focus of this organization was to help manage food-related health problems in the poorest parts of south LA, such as obesity. Needless to say, he is both a financially minded individuals as well as philanthropic, the perfect combo to build Everytable.
David Foster: David, had a great early career in private equity and investment banking and made it to the level of VP at Aurora Capital. Despite his early success and financial well being, he decided to jump ship and become a co-founder of Everytable. Another financially savvy mind, with a passion for doing well and doing good.