Be Fit Food Scores $300K From Janine Allis

Be Fit Food, founded by clinical dietitian Kate Save and bariatric surgeon Dr Geoff Draper, was born out of the pair’s frustration with clients using “shake diets” to attempt to lose weight before surgery. The company sells tailored, prepackaged meals based around the ketogenic diet — high fat, moderate protein, low carbohydrate — which forces the body to rapidly burn fat.

Unlike competitors such as Lean Cuisine and Weight Watchers, Be Fit Foods claims to be the only company in the market that uses a “science-first” approach, starting with the required formula of macronutrients and working backwards to create the recipes. 20 shipping, at a cost price of about 33 per cent.

1.5 million. Admitting their strength is more in the science and product side, they say they want an investor to help with the logistics of scaling the Mornington Peninsula-based business nationally. 2.8 million revenue with a profit margin of 49 per cent. Ms Save impresses judges with the high-quality food and her knowledge of the science behind the ketogenic diet.

After Greencross founder Dr Glen Richards announces he is seriously considering an offer, Ms Save leaves to bring in her business partner. Internet entrepreneur Steve Baxter uses the opportunity to snag a bit of extra food, while RedBalloon founder Naomi Simson comments that she’s a “fabulous advocate of her product, and she’s smart”. “And the dress is pretty good, too,” Andrew Banks points out, prompting an “oh, shut up” from Ms Simson.

100,000 loan — for one third equity. “I like the business,” Ms Allis says. “The valuation I do not like. 1.5 million. You just can’t be because you’ve got so much more risk to come. “What you need is a business partner, someone who has the logistical side and the accounting side. 300,000 for one third of the business. “I’ve had a hell of a weight loss journey over the years,” he says. After a lengthy deliberation, they take Ms Allis’ offer, despite Mr Baxter’s being a better deal on paper.

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