21-year-old entrepreneur takes on billion pound healthy foods sector
A 21-YEAR-old entrepreneur is taking on the rising health food sector with a start-up which has already received high-profile investment and recognition.
Directors of the business are 21-year-old Joe Carnell and Jamal Edwards, mentee of Richard Branson and founder of music platform SBTV.
Wetherby-based ÜGOT recently won £50,000 worth of business support at York’s Venturefest, but the firm are ambitious and are looking for £250,000 to expand their business rapidly.
The healthy eating café and products company started with a £100,000 director’s loan, with its first branch launching at York train station in 2013.
Co-founder Mr Edwards is a 24-year-old music entrepreneur who has received the backing and mentorship of billionaire Sir Richard Branson.
Before he was 22 years old he topped the Times Young Power List, and become the face of Google Chrome and Puma.
They opened a second branch at Newcastle train station, which is also on the Virgin Trains East Coast line.
They are looking to open new stores in Harrogate, Newcastle and Leeds.
Their current branches, at York and Newcastle, are generating a turnover of £360,000 with a net profit of £24,000.
The firm now employs 14 people, with three focussed on the design and marketing of the brand.
Mr Carnell said: “It was a huge honour to be at this year’s Venturefest especially among so many inspirational entrepreneurs. I didn’t go with the intention of winning, it was more to gain exposure for ÜGOT, but it’s so overwhelming to be recognised for all the hard work we’ve put in over the last 18 months.
“I look forward to the next stage of continuing to develop and grow ÜGOT, capitalising on the generosity of our new sponsors and then returning next year to share our success.”
Judges on the Venturefest Investment Competition panel included investors from Innovate UK, Exolta Capital and Silicon Valley Bank.
