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Fifth Town Artisan Cheese Co.


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Fifth Town Artisan Cheese Co.

  1. 1. Fifth Town: Cheese On A MissionEntrepreneurship 101, MaRS Feb 1st, 2011
  2. 2. Artisan Cheese Maker
  3. 3. 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...
  4. 4. FT Purpose Driven Business• 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
  5. 5. What is Fifth Town?
  6. 6. Whey/Waste Water TreatmentConstructed Wetland
  7. 7. Farm Partners
  8. 8. Accountability: 3rd Party Certification LEED ISO 140001 (Self Reporting)
  9. 9. Going Global: Sharing Knowledge withLike Minded Communities Around the Globe • WAITUHI KURATAU DAIRY Ltd (MATATOKI DAIRY) • Maori Trust Organization
  10. 10. Mapuche (Chile) Teaching Sustainable Cheesemaking and Sheep Milk Dairying
  11. 11. Philanthropic WorkROSE HOUSE MUSEUM Canadian Nature Conservancy
  12. 12. Community InvestmentLOCAL NOT FOR PROFITS EDUCATION• P.E.C. Kid’s Soccer Sponsor • Roots Program at PECI (Prince Edward County Wellington’s Women’s Institute Collegiate Institute) Prince Edward County Theatre Festival PECI Fundraiser Prince Edward County Rotary Club Annual INDUSTRY DEVELOPMENT /AGRICULTURE SUPPORT Fundraiser for Picton Hospital • International Goat Symposium (Lindsay) Prince Edward County 4-H Youth Club Ontario Dairy Sheep Association Edith Fox Centre for Loss & Lambs for Children Ontario Cheese Society Slow Food Prince Edward County Queen’s University /Moneisson Centre for Knowledge Ann Farwell Library Fundraiser in Milford Impact on Society Research Al Purdy Fundraiser, Picton Queen’s University CURA Project for the Innovation and Kingston Symphony Orchestra Fundraiser Sustainability in Creative Rural Communities (Industry PEFAC (Prince Edward Fitness & Aquatic Centre) Partner) Fundraiser American Cheese Society Big Brother’s and Sisters of Clarington Fundraiser Central Ontario Cheese Makers Association Trenton Memorial Hospital Gala Fundraiser GREEN/ENVIRONMENTAL Kiwanis Club of Ottawa Fundraiser • Halton Conservation Foundation Fundraiser Canadian National Institute for the Blind Green Enterprise Toronto Art Space Fundraiser, Peterborough SWITCH KingstonARTS ORGANIZATIONS • Canadian Nature Conservancy• Ontario College of Art & Design Student Fundraiser Shelter Valley Folk Festival• Ontario College of Art & Design Student Fundraiser Shelter Valley Folk Festival
  13. 13. Awards• 31 Cheese Awards including 5 • Canadian Wood Council Grand Champion Awards and WoodWorks Award Top Specialty Cheese Maker November 2008• Outstanding Contribution to Agriculture • Design Exchange, Staff Prince Edward-Hastings, 2008 Pick Award• Premier’s Award for Agri- November 25th, 2008 Food Innovation • Platinum LEED May 2009 accreditation• Marketing Awards: Fifth Town February, 2009 Logo/Stationary Design, Canadian Advertising and • Ontario Concrete Design Award Architectural Merit Award 2005 2008 • GeoExchange Excellence and Leadership Award November 17th, 2008 • Elizabeth Murray Award for Construction Excellence
  14. 14. Marketing AwardsAds as service tocommunities of interest…
  15. 15. 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
  16. 16. Transformation
  17. 17. Umm. I love youbut...WTF IS THATMommy!?????
  18. 18. Our Broken Food System • 1/3 of hospital stays food related illness incl 1/3 of all cancers, ½ heart disease and 2/3 Enormous diabetes • 1/3 Waste costs food related • Significant Environmental CostsHidden Costs • Threat to food sovereignty growing Under- • Food industry employs people across spectrum of ability Recognized • Can employ many groups/marginlized groupsSocial Benefit • Part of Cultural Industries (like books, magazines, movies) Opportunity • Signficant contributor to rural economies
  19. 19. Food & Environment?
  20. 20. First Client
  21. 21. Greatest Key To Success
  22. 22. Unexpected Challenges
  23. 23. Finding A Great Team
  24. 24. Raising Money ($3.6M) • BDC Institutional • PELA 30% • TD LOC ($150) Personal • 50/50 35% shareholders • Private Equity/no Growth shares Financing • Private Equity/no shares
  25. 25. 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
  26. 26. Inspire People?
  27. 27. Biggest Opportunities FOOD Distribution Quality Artisan Science AGRICULTURE Science Human Scale/Profitable Sustainable FACILITATION & EDITING Credible selection Bringing people together
  28. 28. 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.
  29. 29. Entrepreneur?
  30. 30.
  31. 31. 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)