Hi, everyone! I'm Anna Del Rosario and I have been working on my first ever business since 2016.
Nutrana Health and Wellness Co (NHWC) is a 2-person business put up by me and my partner, Jong Abad, with a meager Php 100,000.00 capital to venture into the fast-growing and highly profitable Powder Nutrition Formula market that was exclusive only to giant foreign multinational companies back in 2016. So that's like David vs Goliaths in this lucrative market!
Armed with our combined experience, we registered NHWC as a partnership in May 2016 with SEC registration numbers PG201609156. Jong has more than 20 years of experience in sales, marketing, business development and alliance management in the pharmaceutical industry. Coupled with my own experience as a brand manager in the FMCG market for 6 years, we decided to pursue the huge opportunity in the fast-growing nutritionals and food supplements markets back in the day when there were only 3 major players in the market for diabetes-specific nutrition. All players then were giant multinational companies (Abbott, Nestle and Kalbe). We are not a multi-level or a networking company. We are classified by the FDA and local government as importer/distributor of health and wellness products.
Our goal is to become a significant player in the market, by capturing around 5% market share (estimated at Php 50 million) by the end of 2021. Today, we are raising funds of about Php 5 million where 30% will be used to service debts from our supplier and 70% to place an order for our next product shipment and fund our operations.
By 2022, NHWC shall be incorporated to enable it to raise more capital as it aims to post exponential growth with the launch of more nutritional products in several categories which includes nutritional formula for chronic-kidney disease and standard nutrition formula, among others.
(Our Business Overview)
NHWC started operating in November 2016 with the launch of its banner product - DiabetCare Gold - (The ONLY 100% plant-based nutritional adult formula for Diabetes and weight management). In April 2017, BioFlora-L (A combination of seven strains of probiotics and prebiotics in powder form) was launched to take advantage of the fast-growing probiotics/prebiotics market. Both products can be bought with or without prescriptions and are now available in major drugstore chains including Mercury Drug and MedExpress Drugstores as well as in supermarket chains (UniMart and Landmark). Promotion is both ethical and direct to consumer with very specific coverage of target physicians as well as trade promotion mainly thru wet sampling in target Mercury Drugstore branches, hospitals and supermarkets. Key customers like St. Lukes Medical Center, Makati Medical Center and The Medical City have approved the inclusion of our products in their formulary. Distribution is on a nationwide scale through our major distributor - MedPort Distributors Inc. - and a number of provincial sub-distributors covering Luzon, Visayas and Mindanao regions.
In 2017, combined sales for the 2 products reached 6.1 million pesos which grew to 7.2 million in 2018. The relatively slow growth in 2018 is mainly due to the entry in July 2017 of 2 brands of diabetes-specific nutritional formula from UniLab, the country's biggest pharmaceutical company. This is also the main reason NHWC needs additional funding for its operations to ensure an effective roll out of its programs and increase the chances of hitting its 2019 sales target of 15 million pesos. New product registrations are under way in time for launch in the next two years.
After two very challenging years, NHWC has established its presence in the market with very good potential for growth. With more than 100 physicians dispensing our products today and other healthcare professionals prescribing or recommending with a decent distribution scope in major drugstore chains, supermarkets and hospital pharmacy availability, the forecast is optimistic for our first two products and also promising for our products in the pipeline. Competition has also become more cut-throat, and as the smallest player in the market, the need to remain visible and relevant requires more funds. Our immediate concern however is that, because of our initial market success, much bigger companies have taken notice and have taken steps to try to wrestle our products away from us. Our supplier has given notice as the prospect of growing the products much faster with a bigger and better financed distributor is just difficult to ignore. This is what brought us to crowdfunding.
NHWC takes pride in being the first local (Filipino) company to launch in the highly profitable and fast-growing nutritional formula market that used to be exclusive to foreign multinational companies. We are determined to make it big in this market and want to share the journey to those who would like to become a part of our story. Please help us thwart the threat of a take-over by a bigger company by helping us raise our initial requirement and join us in this exciting and very promising venture. Contact us now.
You can view our facebook page here: https://www.facebook.com/nutranahealth
Our website: www.nutranahealth.com