Background
Homebaked are a co-operative bakery and community land trust, located opposite Liverpool FC’s Anfield stadium. Famous across Merseyside and beyond for their award winning pies, they are a firm fan favourite.
Having taken over their local neighbourhood bakery to save it from demolition, the co-operative has grown to become a thriving business and community space with over 30 active volunteers and 15 members of staff, all with strong links to the area.
Homebaked’s ultimate aim is to invest in the local community, improving access to good food and working to create quality jobs and training opportunities. With profits being re-invested into the business and community initiatives, Homebaked are making a real difference to the local area.
Investment
Numbers of daily visitors to the café had more than doubled in two years. With this growing popularity also leading to more wholesale opportunities, demand had begun to outstrip supply. Without access to the right equipment and facilities, scaling up production would be impossible.
Impressed with the service they had received, a contact at another social enterprise suggested Livv Investment. At Livv Investment we provide funding up to £150,000 to charities and social enterprises, offering one-to-one support through applications and over the investment period.
We initially assisted Homebaked with a Reach Fund application and they received a grant of £14,000 to create a comprehensive business proposal. This enabled them to successfully apply for a grant of £15,500 and loan of £45,500 from Livv Investment.
The investment process was quick compared to sourcing funding from other grant providers, meaning Homebaked could take advantage of the opportunities coming their way and plan ahead more effectively.
A dedicated catering unit and specialised equipment has enabled them to ramp up production to meet demand, creating new positions and freeing up space in the kitchens for more educational courses, including classes for local school children. Since the investment, Homebaked have had their busiest ever month, including trading at the Baltic Market and supplying to Liverpool Homeless Football Club’s charity Christmas stall. Opening up new opportunities through extra capital has helped build the beginnings of several valuable partnerships.
Livv Investment really took the time to understand our aims as a business and support us through our application. The process was quick and the guidance we received enabled us to build a more robust business plan. Investment has given us a chance to grow, employ more people and be responsive to the great opportunities that are coming our way.