Coventry & Warwickshire Reinvestment Trust
Region: West Midlands
Programme: Start Up Loans
Kokoso Baby is the new baby skincare brand that uses pure organic coconut oil specially selected for baby skincare.
Kokoso Baby’s coconut oil hasn’t been refined, bleached, deodorised or tinkered with. And thanks to a coconut-friendly process it’s more lightweight than others, ensuring all of its amazing natural nutrients absorb better into babies’ delicate skin. Inside every pot is the multipurpose moisturising power of around three organic coconuts – perfect for use as a head-to-toe moisturiser, nappy cream, baby massage oil or to nourish dry skin and help clear cradle cap.
After launching Kokoso Baby in June 2014, Lauren Taylor and Mark Taylor secured a deal to stock their coconut oil in 200 Boots stores nationwide from June 2015. To help their company grow quickly and fulfil the Boots order, they applied for and received a £10,000 government-backed Start Up Loan – supported by the British Business Bank – and mentoring support from the Coventry and Warwickshire Reinvestment Trust (CWRT).
Lauren and Mark secured £10,000 over 60 months and had support throughout the whole application process, from advice on writing a business plan to creating financial forecasts. They were assigned a business mentor, Robin Underhay, by CWRT who they went on to hire to guide them through their first year.
“As with many new pre-profit businesses, it can be challenging to convince a bank to lending start-up capital, and this is where CWRT stepped in. CWRT listened, got excited by the potential in our business plan, and offered advice and support – and that’s worth a lot to a new business. We had support throughout the whole loan application process, from advice on writing a business plan to creating financial forecasts.”
As soon as Kokoso Baby started dealing with Boots, it meant growing quickly, and such growth can throw up a myriad of problems – the more product you sell, the bigger your cash flow issues can become.
The loan has enabled them to bridge the gap and drive the business forward.