Lucky & Prince: Philipp Staudacher
Name: Philipp Staudacher
Company name: Lucky & Prince
Location: Greater London, UK
Date launched: 01/04/2019
Number of employees: 2
Which university did you attend? Syracuse University
A new business taking traditional pet food out for a walk and replacing it with something totally new and nutritious. Man's best friend just got Lucky (& Prince) as this startup's making canine cuisine a culinary delight.
Learn from business owner Philipp Staudacher as he shares how to keep your startup out of the dog house and on a tight leash:
Tell us what your business does:
Lucky & Prince was founded to fill the gap in the market for a high quality, ethical premium pet food at an accessible price point. All Lucky & Prince products were developed in conjunction with leading pet nutritionists. Each recipe is high in premium single protein, hypoallergenic and free from nasties like sugar, salt, and artificial flavours, colours or preservatives.
We see our premium Lucky & Prince sausages as, as close as one can get to raw feeding. Which is why we like to call it “Raw to Go” in an eco-friendly and easy to handle packaging that does not take up too much space, really embracing the “ditch the can” mentality.
Lucky & Prince is an eco-friendly packaged dog food made with the highest quality, fresh ingredients (and a lot of love) in Bavaria. A trusted substitute for home-made dog food, our line of gourmet options give your dog all the nutrients, vitamins and protein they need to stay healthy and strong. It is the closest you can get to raw feeding without needing cold storage and/or freezing.
Our ethos? Quality, affordability, portability, environmentally friendly and most importantly, deliciousness.
Where did the idea for your business come from?
I have always been a lover of dogs. Especially my best friend’s beautiful British bulldogs Lucky & Prince. These guys are a pair of show-stoppers, literally. As winners of several dog shows, they are treated like royalty in the family. No expense is spared for these pooches! Especially when it comes to their food.
Always refusing to feed his dogs manufactured commercial foods, my best friend relied on either home cooked food or expensive high-end dog food to keep them healthy and happy. As you can imagine, this was impossible whilst on the road attending dog shows. Not only did he not have anywhere to cook, but storing canned food safely was a challenge in itself.
And that’s where our story begins…
I really wanted to help solve my best friend’s problem by creating an affordable, human-grade, nutrient-dense dog food that was not only delicious, but easy to carry and store. After discussing the idea with my neighbour (a recognised high-end dog food producer) an idea was born. And, that idea was Lucky & Prince.
How did you know there was a market for it?
A combination of general public perception and knowing that dog owners are more and more concerned about what ingredients are used in their pet food, particularly by larger brands.
We sensed a greater trust for “challenger brands ” like Lucky and Prince that are family run and declare what high quality ingredients we use and know the whole supply chain.
Pet owners are concerned about the wellbeing of their pets and know with the right nutrition they can avoid some hefty vet bills. Pet owners are also becoming more conscious about the environmental impact of the food they buy.
What were you doing before starting up?
I was working in the financial service industry, ie: investment banks and hedge funds.
Have you always wanted to run your own business?
Yes, I grew up in a family that runs a business, and most of my friends run their own businesses, so starting one of my own was always in the back of my mind.
How did you raise the money?
For now it is family and friends as well as my own money, but we have started talking to potential investors who share our passion for premium dog food.
Describe your business model and how you make money:
So, one way is via the sales channel: luckyandprince.com
We have also started talking to selected independent retailers, wholesale dealers as well as online sales platforms.
What challenges have you faced and how have you overcome them?
With Brexit in the talks – the biggest challenge is dealing with uncertainty.
What was your first big breakthrough?
Talking to some of the market leading distributors, as well already expanding and launching Lucky & Prince to Switzerland as well as increasing our range of products.
What advice would you give to budding entrepreneurs?
Go for it and have no regrets: most business fail because they never got started in the first place.
Where do you want to be in five years' time?
Being recognised as an established premium dog food brand in Europe and the best alternative to raw feeding.