fifth town artisan cheese co
TRANSCRIPT
Fifth Town: Cheese On A Mission Entrepreneurship 101, MaRS Feb 1st, 2011
Artisan Cheese Maker
Cheese on a Mission!
• Demonstrate possibilities of sustainable
commerce and small scale dairying
• Catalyst for change: improving access to
wholesome, authentic, locally and
sustainably produced food
• Bringing diverse walks of life together by
working together to bridge divides...
• 1. Green Cheese – Platinum LEED certification
– Green packaging
– Eco-friendly cleaners
• 2. Fine Cheese/Raw Milk Aged Cheese – Fresh, local, whole milk (Support small local family farms)
– Hand made/small batches
– Unique cheese make/aging strategies
• 3. Fair Cheese (Fair Trade Contracts) – Happy animals, Happy Farmers, Happy Employees, Happy Customers
– Price per litre that allows producers to elevate quality, grow and prosper
• 4. Clean Cheese – Ont/Fed licensed/HACCP
• 5. County Cheese – Bringing out County and adjacent region’s terroir
FT Purpose Driven Business
What is Fifth Town?
Whey/Waste Water Treatment Constructed Wetland
Farm Partners
LEED
Accountability: 3rd Party Certification
ISO 140001
(Self Reporting)
Going Global: Sharing Knowledge with
Like Minded Communities Around the
Globe
• WAITUHI
KURATAU
DAIRY Ltd
(MATATOKI
DAIRY)
• Maori Trust
Organization
Mapuche (Chile)
Teaching
Sustainable
Cheesemaking
and Sheep Milk
Dairying
Philanthropic Work
Canadian Nature Conservancy ROSE HOUSE MUSEUM
Community Investment LOCAL NOT FOR PROFITS
• P.E.C. Kid’s Soccer Sponsor
Wellington’s Women’s Institute
Prince Edward County Theatre Festival
Prince Edward County Rotary Club Annual
Fundraiser for Picton Hospital
Prince Edward County 4-H Youth Club
Edith Fox Centre for Loss & Lambs for Children
Slow Food Prince Edward County
Ann Farwell Library Fundraiser in Milford
Al Purdy Fundraiser, Picton
Kingston Symphony Orchestra Fundraiser
PEFAC (Prince Edward Fitness & Aquatic Centre)
Fundraiser
Big Brother’s and Sisters of Clarington Fundraiser
Trenton Memorial Hospital Gala Fundraiser
Kiwanis Club of Ottawa Fundraiser
Canadian National Institute for the Blind
Art Space Fundraiser, Peterborough
ARTS ORGANIZATIONS
• Ontario College of Art & Design Student Fundraiser
Shelter Valley Folk Festival
• Ontario College of Art & Design Student Fundraiser
Shelter Valley Folk Festival
EDUCATION
• Roots Program at PECI (Prince Edward County
Collegiate Institute)
PECI Fundraiser
INDUSTRY DEVELOPMENT /AGRICULTURE SUPPORT
• International Goat Symposium (Lindsay)
Ontario Dairy Sheep Association
Ontario Cheese Society
Queen’s University /Moneisson Centre for Knowledge
Impact on Society Research
Queen’s University CURA Project for the Innovation and
Sustainability in Creative Rural Communities (Industry
Partner)
American Cheese Society
Central Ontario Cheese Makers Association
GREEN/ENVIRONMENTAL
• Halton Conservation Foundation Fundraiser
Green Enterprise Toronto
SWITCH Kingston
• Canadian Nature Conservancy
Awards
• 31 Cheese Awards including 5
Grand Champion Awards and
Top Specialty Cheese Maker
• Outstanding Contribution to
Agriculture
Prince Edward-Hastings, 2008
• Premier’s Award for Agri-
Food Innovation
May 2009
• Marketing Awards: Fifth Town
Logo/Stationary Design,
Canadian Advertising and
Design Award
2005
• Canadian Wood Council
WoodWorks Award
November 2008
• Design Exchange, Staff
Pick Award
November 25th, 2008
• Platinum LEED
accreditation
February, 2009
• Ontario Concrete
Architectural Merit Award
2008
• GeoExchange Excellence
and Leadership Award
November 17th, 2008
• Elizabeth Murray Award
for Construction
Excellence
Marketing Awards
Ads as service to
communities of interest…
FT Growth
• 5 to 16 FTE
• 20+ in Summer
• 3 to 7 Farms
• 5000/customers/week
• $500K in FT store
• 1 to 8 Distributors
• Sobeys
Transformation
Umm. I love you
but...WTF IS THAT
Mommy!?????
Our Broken Food System
• 1/3 of hospital stays food related illness incl 1/3 of all cancers, ½ heart disease and 2/3 diabetes
• 1/3 Waste costs food related
• Significant Environmental Costs
• Threat to food sovereignty growing
Enormous
Hidden Costs
• Food industry employs people across spectrum of ability
• Can employ many groups/marginlized groups
• Part of Cultural Industries (like books, magazines, movies)
• Signficant contributor to rural economies
Under-Recognized
Social Benefit Opportunity
Food & Environment?
First Client
Greatest Key To Success
Unexpected Challenges
Finding A Great Team
Raising Money ($3.6M)
Institutional
30%
• BDC
• PELA
• TD LOC ($150)
Personal
35%
• 50/50 shareholders
Growth Financing
• Private Equity/no shares
• Private Equity/no shares
Things I wish I knew 1. Get good legal advice at start up.
Don’t scrimp on this!
2. Plan for shareholder disputes and
include resolution mechanisms in
By Laws Up Front
3. Plan for challenges to mission
/purpose when going gets tough
4. Get independent Directors
5. Cultivate future buyers for
shareholders who want to exit as
ongoing activity
Inspire People?
Biggest Opportunities FOOD
Distribution
Quality
Artisan
Science
AGRICULTURE
Science
Human Scale/Profitable
Sustainable
FACILITATION & EDITING
Credible selection
Bringing people together
Piece of Advice
•Get good lawyer
•Have supportive life
partner
•Work at being
realistic, comfortable
with conflict, and be
always open.
• Be balanced
because it’s a
lifestyle made up of
wild rides.
Entrepreneur?
Entrepreneur’s Playlist
MY PLAYLIST!
1. Natura (Bjork)
2. Something Good to Show (Terra
Naomi)
3. I Have A Dream (ABBA)
4. F**kin Perfect (PINK)
5. Livin ‘ On A Prayer (Bon Jovi)
6. Sleep’in is All I Want to Do (The
Duhks)
7. Price Tag (Jesse James)
8. Trouble Is A Friend (Lenka)
9. Who By Fire (Leanard Cohen)
10.I Did it All (Tracy Chapman)