Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
The founders of Let’s Dish! have raised $4 million from private investors for a national expansion that comes just in time to beat circling competitors, co-CEO Darcy Olson says.
“We’re creating the category,” she says, for retail meal preparation. Let’s Dish customers come to a store and prepare meals from already assembled ingredients, to be frozen and cooked later at home.
“We’re a breakaway brand. It’s exciting to take it nationally,” she says, adding that the need to raise outside funds became obvious last year. “We looked at it as, what is the best way to create value?” Also, competitors (such as Sociale Gourmet locally) have started similar companies. “Timing was definitely a factor. We had to think about the urgency.”
She and Ruth Lundquist launched the company in October 2003, after much research. “We put a lot of rigor into understanding the consumer,” she says.
They emphasize technology, so that all customers schedule their sessions, choose what they want to make and pay in advance. Then Let’s Dish procures just the right groceries. “We’ve developed a very efficient model,” she says.
They plan to emphasize efficiency as they begin selling franchises throughout the country. They will focus on one city at a time, the first of which she wasn’t ready to name in late August, by first securing an area developer who will in turn sell individual franchises.
Let’s Dish, with Burnsville headquarters, now has four stores in the Twin Cities and three elsewhere.
Darcy Olson, Let’s Dish! Inc.: 952.767.3474; in**@******sh.com; www.letsdish.com
