In a world of Hi-tech developments, we feel that the traditional confectionery market cannot be overlooked as it can benefit from long-term repeat purchase sales, demonstrated by the fact that just the top 10 confectionery companies have a collective global net sales turnover exceeding $85.5 Billion per annum. We estimate sales of these types of sweets (Mint Imperials) in the UK alone are between £22 and £27 Million per year.
Boggle Mints are manufactured in the UK to a 100% natural recipe. Gluten free, suitable for vegans, Halal, Kosher and are one of the few mint sweets containing real natural mint extract, most mint sweets including the market leaders have a chemical mint flavour. As they have a resistance to heat deterioration, we have first introduced Boggle Mints in Spain, where heat resistance is proving a unique selling point, plus in terms of form, flavour and texture, nothing like a Boggle mint already exists. We have other product developments planned and we hope you can join us on the rest of the journey by purchasing a shareholding.
PRODUCT PROMO VIDEO
Boggle Mints are currently sold in retailers in the town of Alicante, Spain and achieving sales of around 3,000 bags per month. With promotional support, publicity and PR, we are confident in expanding first within Spain beginning with Madrid (the largest Community in Spain). We expect that this should act as an excellent springboard to national expansion, and then into new global markets.
Boggles are already sold ongside brands such as Orbit, Mentos, Halls, Fisherman’s Friend and Tic-Tacs. All brands which are examples of the possible long term repeat sales volumes of these types of sweets. We feel the need to expand in order to satisfy expected demand, plus we have product development plans including fruit flavours and new variants such as natural sugar-free (or reduced sugar) Boggle Mints.
Initially we aim for expansion to start with a focus in Madrid, a community with a population of over 6 Million people. We are already in discussions with a number of large Spanish Distributors expressing interest.
Substantial accomplishments to date
So far we have self-funded:
- Spanish heat trials of UK Mint Imperials (including 2 x hot summers).
- Heat resistant Boggle Mints recipe and production development.
- Product launch plus 1 year of packaging trials.
- Packaging re-designs and fresh trials.
- New zip closure bags launched 2015.
- Sales outlets established in Alicante town, Spain.
- Current sales approx 3,000 bags per month.
UPDATE (September 2016) The new Boggle rebranding
has been completed see Bogglemints.com to see the
new 'grown-up' branding.
50% of your investment back from HMRC
Our longer term goal and target market is the entire population of Spain where there is a real need for a sweet that can survive the heat being kept in a car. Through working and living in Spain, I found that even chewing gum can't survive in a Spanish car without melting. One aim is to make Boggles the No.1 sweet for car journeys and travel in general.
Our experience has shown that Fisherman's Friend are popular in Spain. In Spain these are considered a refreshing sweet (not a throat lozenge) and we feel that their success may well be due to the fact that they are a sweet that can be kept in the heat of a Spanish car.
We already have retailers in Alicante and our next target is Madrid, which is a community of over 6 million people. We have already sent our first trial order of 1,440 bags to a large Distributor in Madrid at the end of October 2015 ready for distribution in January 2016.
The UK marketplace for sweets is mainly Supermarkets and Petrol Stations with a relatively small number of independent retailers. The sugar Confectionery market in Spain is mainly serviced by Estancos (Licensed Tobacconists) and thousands of Bars, Bakers, Cafeterias, Patisseries, Kiosks, Chemists and Restaurants. We feel that supermarkets would not be the largest outlet for Boggle Mints.
“Western Europe will remain the premier Confectionery market by some distance"! Confectionery News 2014.
“Spanish Consumers follow ‘heavy frequency’ Confectionery consumption” JSB Market Research 2014.
We believe that despite a slightly smaller population than the UK, the actual retail market in Spain should be equal to the UK in terms of consumer numbers. On this basis, we believe that the total market for Boggle in Spain should be almost the same.
Characteristics of target market
A couple of quotes say it all:
"Generally speaking, the Spanish Confectionery market is positive, with growth in 2014 of around 5% in almost all Confectionery segments. The European market generally for such products has tended to remain stable in recent years. Within the large European markets, only Spain has registered significant rates of Confectionery sales increase".-Sweetpress España 2015
"The main Confectionery Spanish sales channels consist of a large 350,000 small establishments, including street kiosks, independent shops, pick´n'mix, tobacconists, bakeries and markets such as vending machines in cafes and bars, etc. These sales outlets are serviced by around 610 specialist Distributors distributing throughout Spain. The Distributors are relatively small (only six have turnovers of above €6 million Euros per year". - Sweetpress España 2015.
After years of building Boggle, the Directors of Boggle know this market very well. Every sweet retailer in Spain is a target!
As previously stated, we are discussing
distribution to new retailers with a
number of distributors in Spain.
With one, we have already informally
negotiated a 5 year exclusivity request
down to 2 years. We are proud to have
generated such interest and it
demonstrates to us that the demand is
there, but all distributor options will be
considered to achieve maximum market
coverage in the shortest timescale
Currently the biggest seller of Boggle Mints in Alicante are Spanish Tobacconists (called Estancos). Estancos do not exist in the UK but in Spain there are around 15,000 individual Estancos. Through the Spanish Distributors we would be able to access a portion of those with the goal of reaching them all.
We feel that the re-branding, advertising and marketing campaign undertaken by Grey Group will help the word spread. We will be working to boost our online presence, especially on social media, with the help of the Grey Group guys in Madrid and Barcelona who have identified some wonderful and exciting ways of stimulating interest in Boggle Mints. We believe the next phase of the Boggle journey will also be interesting and exciting.
Together with Grey Group we have studied the competition in detail. Boggle is already being sold on the shelves alongside the competition, which in Spain are Mentos, Tic-tacs, Halls, Fisherman's Friend and chewing gums.
We are not unduly concerned by competition as due to the heat resistant properties of a Boggle Mint, in any hot climate country, we feel there is no direct competitor to Boggle. We are also aiming to establish Boggles as a 'type' of Mint sweet opposed to just a brand. ‘Mint Imperial’ doesn't translate well in Spanish so we believe that if a competitor emerged it would be a Mint Imperial product and they would need to find an alternative way of naming their product. By then we feel that 'Boggle' lovers would stay Boggle lovers despite any attempts by competition.