Tim, Louise and Nigel, former pastors and youth workers, started MORNINGCIDER in 2015. What started off as just a name to make people feel more connected with their favourite Auckland suburb, Morningside, has now grown into a nationwide cider brand that distributes around Aotearoa and the world.
In this pod, Tim and Nige will share the story of how they started, the power of partnering with friends to scale, and how being pastors and starting a business are related!
Initially bootstrapped through small batches, they shifted gears when they started a joint venture with their friends at Urbanaut Brewing Co. They later raised $300k from friends and family, sold shares in their bar and issued some “Ciderbonds”.
The company is currently raising to fund expansion, particularly focusing on export opportunities to markets like China. They’ve grown from producing 50-litre batches to 3,000-litre commercial runs, with plans to exceed 1 million litres annually.
Since they’re currently raising investment on PledgeMe we thought what better time to hear their funding journey than right now when they’re in the thick of a raise. (You can learn more about their current raise here: https://pledgeme.co.nz/investments/604)
🌟 Key Highlights
Origins and Community Roots
Tim and Nigel share their background as pastors running Crave Cafe, a non-profit community cafe with 55 seats. They explain how Morning Cider evolved from an initial idea of ‘Morning Cycle’ during a trip to Seattle, and how they discovered cider making at Shilling Cider House. Their deep connection to the Morningside community spans 15 years.
Early Business Development and Production
The company’s first significant commercial production came through a partnership with Urbanaut, scaling from 50-liter batches to 3,000-liter batches. Initial funding was bootstrapped, with founders putting in a few thousand dollars each. The business model evolved from serving their own bar to wider distribution.
Investment Rounds and Current Fundraising
Morning Cider raised $335,000 in their first formal round in 2021 through friends and family. The current equity crowdfunding campaign aims to fund export growth, marketing initiatives, and their world record attempt for the largest urban apple orchard. They discuss their valuation approach based on industry multiples and market comparisons.
Future Growth and Export Strategy
The founders outline their export strategy, particularly focusing on premium positioning in Chinese cities and the Middle East. They emphasize their ability to scale production quickly through manufacturing partnerships and discuss the importance of New Zealand’s apple industry in their export plans, referencing a potential billion-dollar industry roadmap.
🎧 Listen to the Full Episode here:
👉 Ep2 – The Funding Files on Apple: https://lnkd.in/ghFzW3Pq
👉 Ep2 – The Funding Files on Spotify: https://lnkd.in/gfUxiBm5
