Gourmet Pre-Made Meals Delivered
Feast & Fettle is a subscription-based, premium food delivery service.
With this service, seasonal meals are prepared and cooked by chefs, and delivered directly to members’ doors.
Over the past few years, the meal kit industry has grown rapidly.
According to a March 2018 report from Nielsen, 9% of U.S. consumers, or roughly 10 million households, purchased a meal kit in the last six months…
And according to Statista, a data analytics website, annual revenue from meal kit companies is projected to reach $10 billion by 2020.
Notable companies in this industry include Blue Apron, Hello Fresh, and Plated.
In September 2017, Plated was acquired by Albertsons, a supermarket chain, for $200 million…
And in November 2017, HelloFresh went public.
The problem with these companies is that they only deliver ingredients, and customers still have to prepare each meal.
Feast & Fettle separates itself from these competitors by offering fully-prepared dishes. Meals are cooked by a local chef in a company-owned kitchen, then delivered by Feast & Fettle’s fleet of drivers. Once delivered, members simply reheat the food — no cooking or prep is required.
Each week, members go online and select meals from a rotating menu of entrees and sides. Example entrees include Balsamic Flank Steak with Roasted Tomatoes, Pork Chops with Mango Salsa, and Mexican Quinoa Salad. Sides include Fried Sweet Plantains, Honey Buttermilk Cornbread, and Grilled Zucchini & Bell Peppers.
Feast & Fettle launched in 2016, targeting customers in Rhode Island. In 2017, the company generated more than $231,000 in revenue, a 144% increase from 2016. In addition, Feast & Fettle has achieved a customer retention rate of 40%, nearly double the rate of other meal kit companies.
Over the next 12 months, the company is preparing to expand to other markets in the Northeast. To achieve this growth, Feast & Fettle is considering adopting a “hub-and-spoke” business model. This would involve setting up a designated kitchen in each area, and having meals delivered to customers without the need for long-distance shipping.