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New Business Set Up – The Challenge Louise Grubb – CEO Nutri-Science Ltd.

New Business Set Up – The Challenge Louise Grubb – CEO Nutri-Science Ltd. The Entrepreneur. Career Path. BSc., Dip. Diet., MMII Grad, MBS (International Marketing) Career Experience Dietician Business Manager (International Development Team) Retail Shops Nutri Science Ltd.

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New Business Set Up – The Challenge Louise Grubb – CEO Nutri-Science Ltd.

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  1. New Business Set Up – The Challenge Louise Grubb – CEO Nutri-Science Ltd.

  2. The Entrepreneur

  3. Career Path • BSc., Dip. Diet., • MMII Grad, • MBS (International Marketing) • Career Experience • Dietician • Business Manager (International Development Team) • Retail Shops • Nutri Science Ltd.

  4. How Nutri Science Started! • Nutritional product ‘worked’ in horses & dogs! • Was there a market? • Where could the product be sold? • How could the product be manufactured? • Business Plan – ‘Take the Plunge!’

  5. Initial Business Strategy • To develop and manufacture quality food supplements which have a proven scientific benefit • Create a strong brand image for the product ranges • Gain market access by placing products with recognised distributors in targeted markets (Who could sell the products best in specific markets)

  6. Small Animal

  7. Equine

  8. Human!

  9. Why did I Start Nutri Science? • ‘Good Idea’ • Necessity/Opportunity • Timing was awful (finance, personally, premises)

  10. Finance €20k Own Funds €20k Capital Grant WCEB €15k SEEP €250k BES €150k EI (Equity & Pref Shares) Operations 2000sqft warehouse with Laboratory Basic manufacturing equipment 16,000sqft Facility ISO Accredited DofA Approved Starting Nutri Science

  11. Losses Security Cash Flow Time Risk Gains Sense of achievement Control of own destiny? Potential for high rewards Implications of starting your own business

  12. Responsibilities of the Business Owner!

  13. Requirements for Success • Tenacity • Drive • Organisational Ability • Commitment • Personal Support • ? Money (will help make things happen faster)

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