Overall, the plan was incredibly easy to follow, the food tasted good and — the best part — I didn’t have any stomach iss...
Problem
Eating for optimal health
is complicated and
time-consuming
The lifestyle of most busy urban professionals involves processed foods and restaurant takeout, sitting at a desk much of the day, with a never-ending to-do list that causes stress and anxiety. Obesity, overweight, depression, heart disease, and a whole host of other medical and health concerns are on the rise, and the price we pay in terms of our quality of life and our sense of well-being is high. We all know we could be healthier, but the latest fad diet or trending quick fix isn’t the answer. It’s a lifestyle change. And when it comes to changing what you eat every day of the week, it’s been a difficult hurdle to jump, until now.
Solution
An easy and delicious way to look and feel your absolute best
- Ready-to-Eat, No Cooking Required
- 100% Gluten-Free, Dairy-Free, with No Refined Sugar
- Designed by Nutritionists and Health-Supportive Chefs
- Organic & Sustainably Sourced Ingredients
- Pasture-Raised Meats, Eggs, & Wild Seafood
- No GMOs, No Pesticides, & No Refined Vegetable Oils
- Compostable & Recyclable Packaging
- Delivered to Your Door
Product
Simple and convenient organic meal delivery
Whether you want to reset your body with a detox, break unhealthy eating habits, or need an easy way to maintain optimal health without the restrictions of a diet, our clean eating programs provide everything you need to become the healthiest version of yourself today.
Traction
$1.43M+ in revenue
Customers
Devoted following of celebrities, wellness influencers, and busy clients
Provenance has cultivated a devoted following with some of the biggest names in Hollywood and the health and wellness industry. We are helping our clients prepare for the red carpet, weddings, pregnancy and birth, and prevent and manage disease and illness.
Business model
Profitable since 2014
Provenance sells directly to clients via our website. Our prepared meals are available as a one-time order, starting at $68/day for a full day of meals, or as a recurring subscription. Orders are placed online utilizing our custom software, 3 days in advance of delivery. Subscribers pay an annual recurring fee of $99 to become a member and receive orders automatically each week.
The average order size is $244 and 76% of revenue in the last 12 months has come from return customers. We've been in business for 7 years and have fine-tuned operational efficiency with an emphasis on the ability to scale. As we reach our target market in additional cities, our gross margins (currently 50%) increase as we achieve economies of scale.
Market
At the intersection of the wellness industry and the prepared meals market
The U.S. prepared meal market is an estimated $65.6 billion in 2019, estimated to reach $72.6 billion in 2023.
The global health and wellness food market is expected to increase by at least 6% annually in the next 2 years.
80% of Americans are willing to pay a premium for food that offers health benefits.
Our target market includes busy urban professionals ages 25-45, mostly female, with a household income of over $200K per year. This market segment understands the connection between what they eat and their physical and emotional health, but does not have the time to cook.
Competition
We are NOT a meal kit
Current competitors are small prepared meal delivery services and a few larger national companies that have received investments from 2016 to 2018 and are still attempting to grab market share. This is still the birth of this major industry. We believe Provenance will become the standard for high quality, nutrient-dense prepared meals.
Our competitors do not have the retention and loyalty that Provenance customers have shown. They cater to niche diets that don’t appeal to a wider population nor inspire a long term way of eating. We have a 5-6 year lead on our potential competitors and have established the operations, partnerships, and recipes that will fuel our growth and maintain customer loyalty.
Vision and strategy
Food has the power to transform lives for the better
We have established ourselves as a premium and trustworthy brand in NYC. In 2020, we are focusing all funding on optimizing and scaling our operations.
Establishing operations in Los Angeles, CA - our strongest wellness market.
Shipping our prepared meals via insulated boxes to extend our geographical reach to more clients.
Upgrading our custom eCommerce software to manage all order and fulfillment processes, track client health metrics, automate client services, and support a branded online wellness community.
Increasing brand awareness through continued partnerships with doctors and nutritionists, like-minded wellness brands, celebrities, influencers, and more.
Funding
$0 capital raised to date
Provenance Meals has achieved consistent year-over-year growth solely through bootstrapping. This represents our first capital raise, to support expansion and continued growth.
Founders
Founder and CEO Caroll Lee is an avid cook, mother of two, and Board Certified health coach specializing in functional medicine. A graduate of the Institute for Integrative Nutrition, her teachers included the country’s most renowned integrative health professionals, including Dr. Frank Lipman, Dr. Mark Hyman, and Dr. Sara Gottfried.
Caroll brings 20+ years experience in e-commerce and luxury branding to Provenance, from the early days of the internet in SF to launching the first e-commerce sites for Gucci, YSL, Stella McCartney, and Balenciaga. After the untimely loss of both her mother and father-in-law over a 2 year period, she turned her passion for feeding people real food into a mission to bring nutrition back into health and preventative care.