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Health Optimization Through Homey

Homey- Revolution of healthy eating - backed by a strong professional network with dietitians and nutritionists. We provide ready-to-eat healthy meals, therapeutic meals (diabetic, weight loss), specialised meals (e.g. cancer-fighting, post-operation patients) targeting patients with chronic illnesses and their unique dietary requirements. The meals will be delivered directly home or hospitals & medical cooperation partners, removing a large burden from the ill and invalid while solving their health-related problems.

With double-digit growth rates since launching in Malaysia, Homey in now ready to raise funds to quickly capture the emerging specialized B2B&B2C health food market as a local first-mover.

Investor proposal

Homey has 3 clear directions:
  1. Build a healthy community
  2. Company profitability and having continuous growth
  3. Embrace Company Social Responsibility(CSR)
Homey business model has been tested and validated. It is profitable and scalable. We need fund at this stage to scale further.

If you wish to be part of this booming business that potentially making disruption in the wellness and healthcare industry, please join us and help us to grow, we could be the Amazon of healthy-food.

Retail Investor:
Investment amount
Min: MYR 3,000 (1000 shares)

Sophisticated Investor:
Investment amount
Min: MYR 5,000 (1666 shares)


Each RCPS  will be convertible into Ordinary Shares of the Company at any time at the decision of RCPS holder or automatically when a Qualified Conversion is achieved, whichever is sooner, into new fully paid-up ordinary shares of the Company at one RCPS for one Ordinary Share basis (“Conversion Ratio”).

This subscription uses a 'Nominee Structure'. The Nominee shall be included in the company’s share register as legal owner.

Please refer to the investment overview sheet for further details.

Product

The problem this product solves

NCD's (Non-communicable diseases such as diabetes, heart diseases, obesity, kidney diseases etc) prevalence is increasing globally. Dietary modifications are crucial in the treatment of these chronic medical diseases. However, most of the patients are not compliant/adhere to the diet regimens mainly because they are having misconception about the food preparation.
 
We often see cancer patients and post-operation patients confused about the dietary changes they have to adopt. They feel lost.
 
People are becoming more health-conscious and looking for healthier food. They are bored of outside food but they are too busy working and have no time to prepare food.  

How the product solves it

Homey provides:

  • Therapeutic meals for those patients who have chronic medical illnesses (e.g. diabetes, hypertension, high cholesterol, obesity etc). This will definitely increase their adherence to diet therapy and improve their health conditions.

  • Specialized meals for those cancer patients or patients who have just undergone surgeries. This gives them and their family members peace of mind.

  • Daily supplies of simple healthy meals for those working individuals who wish to have home taste healthier dishes but too busy and have no time to cook. This allows family members to enjoy nutritionally balanced food while being able to spend precious time together.

Product features

Therapeutic meals – diabetic friendly, weight loss, healthy heart (patients with hypertension, high cholesterol or heart disease). 
 
Specialized meals – cancer-fighting, post-operation
 
Simple healthy meals – are nutritionally balanced with no MSG, no processed food, no harmful preservative and less bad fats
 
* The menus are co-designed by dietitians for specific nutritional and therapeutic purposes.
* We provide two options for the above meals: freshly prepared meals and meal kit

Personalised meals – are custom-tailored to user-specific health goals, dietary needs and food preferences. Dietitians specifically design the meals in order to help users achieve their health goals.

Product use cases

Groups of people who will be interested in our products/services:

- Anyone who is concerned about their health

- Those patients 
  • with chronic medical illnesses who want to optimize their health conditions (eg achieve better blood sugar control etc)
  • who are having difficulties in preparing food (eg after surgery or too weak when being sick)
  • getting "diet prescription" from (or recommended by) their treating doctors, pharmacists or dietitians
  • have some forms of cancers and are anxious about the dietary changes (confused about the suitable food ingredients)
 
The meals provided are of subscription forms (either 5, 10 or 20 days).

Team

Dr Tan WP avatar
Dr Tan WP Founder & CEO
A medical doctor with more than 10 years experience in primary care. He is a believer of evidence-based medicine by combining conventional treatment with positive lifestyle habits (including healthy eating) in treating and preventing aging and chronic diseases such as diabetes, hypertension, obesity etc. Besides managing his own clinics, he ... See more
A medical doctor with more than 10 years experience in primary care. He is a believer of evidence-based medicine by combining conventional treatment with positive lifestyle habits (including healthy eating) in treating and preventing aging and chronic diseases such as diabetes, hypertension, obesity etc. Besides managing his own clinics, he has vast experience in FMCG and healthy product business. With these experience, he is well positioned to inspire the team working toward the same goal by implementing the company mission and to lead Homey through continued growth. See less
Yi Chien avatar
Yi Chien Co-founder, CBDO & Certified Dietitian
She completed her Dietetics Professional Training in various medical centres. She enjoys working in many different areas including health and wellness, consulting, public speaking, group education and one-on-one counselling. She collaborated with Asia First Fitness YouTuber to increase awareness of diet related chronic diseases among Malaysian by filming how to ... See more
She completed her Dietetics Professional Training in various medical centres. She enjoys working in many different areas including health and wellness, consulting, public speaking, group education and one-on-one counselling.
She collaborated with Asia First Fitness YouTuber to increase awareness of diet related chronic diseases among Malaysian by filming how to enjoy local dishes and be healthy. The quality and safety of our products are our top priority. Yi Chien plays important role in monitoring and ensuring tasty, safe and healthy food are provided to the customers. She is also responsible for the corporate orders and catering for company’s event and lunch meeting. See less
Jia Yee avatar
Jia Yee Co-founder & CTO
She is the lead for the tech team and will be responsible for the apps development. She is also the founder and CEO of Dot Connect Studio, an online web-based solution company serving varies companies and also government agencies. Under her leadership, her IT company has developed more than 50 ... See more
She is the lead for the tech team and will be responsible for the apps development. She is also the founder and CEO of Dot Connect Studio, an online web-based solution company serving varies companies and also government agencies. Under her leadership, her IT company has developed more than 50 web system and mobile apps, which ranging from retails business, educational and e-government project. One of her important roles in Homey is to make sure the website and apps design are extremely simple and have an excellent user experience, one that can be easily used even by a non-technical person. See less
Lum KL avatar
Lum KL COO
Lum KL has gained a total of 6 years experience in F&B as a chef and operation head in his cafe. Besides, due to his passion for the F&B sector, he did study and develop the “ready-to-eat-food” vacuum packing method. This is to ensure that hopefully everyone can have a ... See more
Lum KL has gained a total of 6 years experience in F&B as a chef and operation head in his cafe. Besides, due to his passion for the F&B sector, he did study and develop the “ready-to-eat-food” vacuum packing method. This is to ensure that hopefully everyone can have a nice meal without hassle. In Homey, Lum KL manages the flow of the operation and makes sure that food is delivered to the customer on time, so that they are satisfied and happy with our service See less

Market

Target Market

Our targeted demographic groups are both genders with age>24. We plan to expand the business into 5 major cities in Malaysia, bringing our serviceable available market to 4.8 million potential customers.

When it comes to therapeutic foods and healthier meals, there is indeed a wide range of available customers although it is considered a niche market. These are our targeted customers:

  • Health conscious individuals
  • Busy working couples
  • Patients with chronic medical illnesses
  • People who are obese or want to be fit in shape
  • Post-operation patients
  • Gym goers
  • Bureau executives
  • Students in tertiary education
  • Medical tourists

Competitive landscape

There is no other business of this kind in Malaysia, thus giving us the complete competitive advantage as the first market mover to enter into this untapped market to fulfill those overwhelming demands.

Though there are no exact replicas of our company, there are some types of companies that we would have to consider to be indirect competitors. Our closest competitors are Dahmakan, The Naked Lunchbox and Go Clean. Unlike Homey, these companies are merely delivering healthy food, they do not provide therapeutic and specialized meals.

Unique differentiator from competitors

Many unique value propositions differentiate us from our competitors:

  • Our strength is that we are a team of passionate healthcare and nutritional experts
  • The meals are prepared under the guidance of dietitians
  • Besides healthy meals, one of our core products is therapeutic meals
  • Personalised meal - groundbreaking product/service in Malaysia and it has helped a lot of patients solving their dietary problems since launching  
  • We have a strong network consisting of medical personnel (doctors, pharmacists, nurses) who are Homey's advocates and they will recommend Homey to their patients
  • None of our competitors is selling meal kits

Company revenue streams

The primary revenue channel comes from the commissions we get from our chef partners as marketing and professional fees with decent margins. This includes corporate orders as well.

Other revenue sources are vendor joining fee, professional fee for personalized meals, sales from meal kits and healthy store (healthy snacks, organic vegetables and fruit subscription boxes) and fees for advertising on Homey newsletters or bento belts.

The advantage of our business model is the steady revenue stream from the meal subscriptions. The users are likely to continue the subscriptions because of their primary intention i.e. to achieve their health goals.

Product/service distribution

We are partnering with reputable local food delivery companies on last miles meal deliveries. A pre-order mechanism and location-based distribution system will allow us to optimize the logistic efficiency and reduce delivery costs.

Execution

Previous milestones/traction

2018:
- April: Website (beta version) launched

- May
  • Connecting with MM Cancer Hospital and started to deliver cancer-fighting meals
  • Collaborated with fitness centers (introduce weight-loss meals)
  • Founder featured on newspaper
  • Provide weight-loss meals to >10 weight-loss program organizations

- June
  • Connecting with insurance agencies (introduce post-operation meals)
  • 1500+ bentos sold

- July
  • >15 dietitians have joined Homey Dietitian Network
  • >60 healthcare-personnel (doctors, pharmacists, nurses etc) have joined us as advocates for recommending Homey to their patients

- Oct: Connecting with public clinics

- Nov: Successfully jointly organized "For-Lean-Penang-Program" with chain clinics and fitness centers

Next key objectives

Homey's vision is to build a community with good quality health life through nutrition while adopting the profit-driven approach along the journey. We strive to find a balance between profit-making and social responsibility. By persistently upholding our company values, we believe we can achieve the following targets:

2019
  • Expand to Kuala Lumpur and Johor Bahru
  • Launch "Charity Healthy Snack" prepared by single mothers (CSR program)
  • >300 dietitians and nutritionists join our network
  • >600 healthcare-personnel join as advocates

2020
  • Achieve profitability
  • Expand to Bangkok and Singapore

2021
  • Launch "Meal on Wheel" to provide nutrition-balanced meals to needy (CSR program)

Previous Financing

Till date, the company has been funded by the founder, Dr Tan without any financial loans.

Partnerships

Therapeutic meals play a major role in the treatment of many chronic medical illnesses. We are partnering with nationwide medical personnel (doctors, pharmacists) for prescribing "nutritional therapy" through Homey as an integral part of their practice. The nurses can recommend Homey to those hospitalized patients before discharge. Therefore, we are partnering with:
  • Public and private hospitals
  • Public and private clinics
  • Pharmacies
  • Medical tourism organisations

Homey's meals can be complementary with many healthcare and wellness products/services:
  • Companies selling weight loss supplements or meal replacements (including those reputable MLM companies)
  • Fitness centers and Fitness classes (aerobic-dance)
  • Organic shops
  • Fruits, healthy snacks suppliers

Use of funds

  • Building new apps (5%)
  • Working capital costs (50%)
  • Marketing costs - online & offline for 12 months (40%)
  • Expansion to other cities - mainly operation costs (5%)

Industry Certifications/Awards

2018
  • Co-founder Yi Chien has been invited as a speaker for some entrepreneur forums
  • August - Co-founder was awarded as the winner for Scoopoint Incubator Program

Return on Investment

The return on investment for investors will be related to selling shares rather than dividends. The value of the company's shares is expected to increase as the company continues to growth over time.

The goal is to achieve at least 50% growth in the value of the company on the subsequent fundraising round.

Risk Analysis

Although we are the pioneer in the market, there are chances that other entrepreneurs will launch similar businesses in the near future. Therefore, Homey has to scale fast in order to gain a decent market share.    

The global economic downturn may hit us soon. This will affect consumer spending power. Homey need to put in more effort in educating the public about spending on preventive care rather than spending on the more expensive treatment.  
 
Customers may directly order from our vendors. For this, Homey will create more added-value benefits to our customers (such as free "Ask Our Dietitian" service etc).