40 | NEWS | CATERING AND HOSPITALIT Y Read a related Fairtrade story: click here
VENTURE CAPITALIST TO VENTURE CONSUMERIST
By David Russell, founder and chairman of the Russell Partnership
Success of any company is based on customers buying a product or service. Companies are responsible for marketing to customers to make them aware of the benefits associated with their product; start-ups are even more under pressure to target potential customers effectively. Traditionally for start-ups,
the options of self-funding, private equity funding or bank funding are the usual routes to generate seed capital. This traditional route is changing with the development of websites such as kickstarter that empower consumers to support ideas and concepts they like and want to buy and that, in turn, supports the growth of a business or product development. Frank Horbelt from
Alabama started his flavoured Ice Tea business in his home three years ago. He wanted to make flavoured ice teas that were unique from anything else in the market. Frank’s idea to use kickstarter was to raise $500 to buy a label applicator machine to speed up the process and to spread the word about his company, Southern boy teas. Consumers were given the opportunity to invest from $3 in return for one ice tea product, up to an investment of $120. To date, $10,500 has been raised (2000% above the initial investment goal) and the additional cash will be used to further automate production and open a retail unit. Consumers have the power to determine not only current product success through purchasing existing products, but also influence and drive the products of tomorrow as demonstrated above.
Sodexo wins University College Lon
Sodexo, the world's largest services company, has won a deal to provide retail catering and hospitality services at University College London (UCL). The company has been commissioned
by UCL to provide quality, diverse food services at its Bloomsbury campus in the capital. Sodexo will provide retail catering,
vending and hospitality services to 25,000 students and 9,000 University staff. The contract was awarded to Sodexo
as UCL moved to ensure quality and consistency for its staff and students across its core central London estate. It is for 3½ years and is worth £15.7m in total or £4.5m per annum. Internationally inspired menus and
eclectic, casual dining offers, with a focus on innovation and sustainability, are being planned by a dedicated Sodexo culinary team whose members have experience of meeting the needs of a diverse campus community. As part of its commitment to quality,
variety and diversity, Sodexo will introduce specially selected independent
"WE ARE DEVELOPING INNOVATIVE AND SUSTAINABLY SOURCED, FRESH FOOD OFFERS AIMED AT PROVIDING VALUE AND FLEXIBILITY"
Aramark extends deal with RGU
provide extended services across its campus in Aberdeen. Aramark will now provide services
across eight catering sites instead of the previous six for the University’s 13,500 students and 1,500 staff. Customer insight and the drive to
deliver service excellence were at the core of Aramark’s proposals for a new contract. Aramark’s research led it to develop new food concepts, as well as offering a licensed Costa Coffee store in the new Riverside East building. Deborah Burnside, Aramark director
ABOVE: Riverside East, Garthdee Campus, Robert Gordon University
Aramark has retained and grown its contract with Robert Gordon University (RGU), after the opening of its new Riverside East building, to
of operations for Aberdeen, added: “Our new and exciting concepts will help enhance the overall student experience, backed by an outstanding service. Initial feedback is excellent, and staff and students alike are enthused by the new food service in the Riverside East building.”
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