Downlights Limited

By Jennifer Del Bel

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NZ $166,635 pledged


233 people pledged


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NZ$150,000

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NZ$300,000

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Pledges will only be confirmed if the target is reached by: 21/05/2020 at 10:00 PM (NZST)

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About

Downlights Limited

Letter from Jennifer

Childhood memories of my grandmother’s dressing table adorned with crystal bowls that were filled with her antique jewelry became the signature look of Illumina. The first fragrances I developed were reminders of my life in Canada. Nothing can compare to the soft glow and the sweet aroma that candles can bring to a room invoking memories.

 

I lived Illumina for the past six years and enjoyed every moment of it but I still wanted my love and passion to be a part of something even more purposeful and fulfilling.

 

It was serendipity that I was introduced to Tony and Emma Sykes in 2018. Their story of struggle combined with frustration and rejection when Emma, who has Downs Syndrome, was looking for work was the start up spirit for Downlights. No one can choose how we are born. We all have one thing in common, we are all soulful beings who contribute to this world in different ways. Every one of us is unique and a treasure. Just like puzzles, we are all different pieces which together make a whole. I believe living life with love as our guide is our purpose on earth. To be consciously aware of it and to experience love in ourselves and others is the meaning of life.

 

Today my heart is full of joy as I am fortunate enough to live my belief and I am proud to provide my knowledge, passion and values as a guiding light to all youth joining Downlights. Downlights has impacted so many lives and brought good to so many people. We remain future oriented as the future belongs to those who believe in the beauty of their dreams.

 

We translate vision into capacity, creating a promising future in hope to inspire others to do the same. I would like to thank you for your time and consideration of investing in Downlights. We are very confident in our products and we know we will grow and you will be able to follow our success and grow with us.

 

Jennifer Del Bel

Jennifer Del Bel

 

Background

 

In 2017, Emma Sykes, who has Down syndrome, completed her final year at Sommerville Special School at the age of 21. Her father, Tony, helped Emma look for a job, only to be turned down by every business, large or small. Tony expected it would be difficult as Emma is largely non-verbal, but he wanted his daughter to have a fulfilling life. This led to the idea of making candles as a hobby. It was at this point that Tony discovered it was not as easy as he thought, so he looked for help and was directed to Jennifer Del Bel from Illumina Soy Candles (Illumina), who had six years of experience in the industry. This was the beginning of an unexpected journey.

 

 

Jennifer began to work with Emma and Tony, offering guidance and the use of her work premises, raw materials and ingredients to see if Emma could manage the skill set required to hand pour a quality candle. It became immediately clear that Emma was benefiting on so many levels from the experience, so together, they made enough products to allow Emma to sell a small range of candles at a local market in Beachlands. Pohutukawa Coast Times ran an article on Emma and overnight a star was born. The market was a sell out and shortly after, a segment aired on Seven Sharp with Tim Wilson, catapulting the newly named business into international recognition.

 

Over the next 18 months, Jennifer used her knowledge and experience from Illumina to develop a mid-priced soy candle range that was of exacting standards to sell across local markets in New Zealand. Using Illumina’s IP and historical contacts resulted in a luxury, high quality hand poured soy candle range with signature fragrances that impressed customers. Strategic alliances were formed with the Lindsay Foundation, Life Education Trust and the ASB Bank. Award nominations followed and numerous articles nationally and internationally were written with a YouTube clip by Star Trek’s George Takei boasting 1.4 million views in 24 hours, further contributing to the growth of the brand. It became apparent that Emma was a symbol of hope for all, and Downlights forged forward, setting an example for other companies and individuals.

 

The introduction of the MOXIE crew in early 2019 (and Emma’s sister Nicki) broadened our scope as we began to offer work experience programmes not only to young adults with Down syndrome, but also with intellectual or learning disabilities. The success of this programme has benefited many, beyond the walls of the small candle factory, and will continue to do so.

 

We are proud to be on Ākina’s social procurement platform fwd:, as a certified social enterprise. We are passionate about our people and the community. The establishment of Downlights Charitable Trust in early 2020 allows for the donation of NZ$1 from every candle sold to our beneficiaries, the New Zealand Down Syndrome Association and Recreate NZ.

 

We complete our circle of giving with our fundraising division, which offers schools and community clubs the opportunity to sell our candles to raise funds for their essential projects.

 

 

 

The range

Under our company we have a total of 13 luxury Illumina Stock Keeping Units (“SKUs”) and 20 SKUs for Downlights with the launch of three new Downlights Mini Candles and a NEW Mother’s Day Fragrance debuting at the Gift Fair, mid March, 2020. Our core product line is candles, but we also sell candle accessories and reed diffusers, plus we offer a candle refill service from Urban Herbalist in Orakei Bay Village. We offer a more affordable range of products for Downlights Fundraising, Pop-ups and markets, to maintain a high end position in retail outlets. New product development is well underway for 2020 with a few surprises we will keep up our sleeves for now.

 

WHY SOY? The soy wax we use in our candles satisfies eco-conscious consumers because it is 100% biodegradable, non-toxic, and GMO-free. Our candles also have wicks that are lead and zinc-free. Our wax provides an even, clean burn with incredible scent throw and the longest possible burn time for each fragrance, candle or soy melt.

THE PRODUCTS

The highest level of quality control has been maintained over the years through our wick testing procedures along with a three point check system for every hand poured candle before it leaves our factory. Each and every candle is lovingly hand poured and all aspects of production are completed by one of our crew according to their unique capabilities. The result is a high quality essential lifestyle product with an emotional appeal and range of signature scents that leave a lasting impression.

 

Market opportunity

The world has a love affair with candles. The scented candle market is estimated to reach between US$ 11.7B in 2025 CAGR 5.5% (Source: Research and Markets). For reference, the entire retail category is estimated to grow at 4% during the same period. (Source: Statista). In Australia, the Australian scented candle market is worth $200 million dollars per annum.

 

Six years of IP from acquiring the assets of Illumina have given Downlights a significant head start. Jennifer has been working with Francois Merle-Baudoin, a fifth-generation award-winning French perfumer from the internationally famous Grasse parfumeries in the French Cote D’ Azure, to create bespoke fragrances for Downlights.

 

 

 

How we are different - products, people and planet

The growth plan

We are fortunate that Downlights has not started from the ground up. It started half way there with the solid base provided from Illumina. Set in place is a solid business structure with a strong point of difference due to its socially conscious core which defines and distinguishes the brand on the global candle market. We will remain steadfast to our values as we strive to solidify growth according to our capacity within New Zealand, then beyond.

 

Research and development is carefully considered to position our products and price points within the reaches of the markets we are targeting. Add to this a keen awareness to adhere to the design principles that distinguish the brand and the focus on our Point of Difference and we will hold a strong place in the market. Quality will always be at the forefront coupled with new product and fragrance releases according to the season and the trends.

 

Downlights will maintain direct sales as attendance at public events such as the Auckland Home Show and General Collective Market provide our Crew with valuable work place experience and we are committed to empowering our staff. In 2020, we look forward to continuing our relationship as a contract manufacturer to Life Education Trust, as well as the luxury gift store and hotel clients from Illumina’s repertoire. Assuming a successful capital raise, this is an area that will be pursued long term. The candle refill service we provide and the fundraising division offer promising avenues for growth that are not limited to Auckland, as does our position on Ākina’s fwd: platform.

 

Additionally, we made our debut on the retail front March 7th, as PechaKucha guest speakers as well as exhibiting at New Zealand’s Winter Gift and Homeware sale. We will attend the Spring fair in September with an exciting new range to help us introduce the beginnings of a more diverse range to assist with expansion into Australia in 2022.

 

Our growth is limited by our ability to expand and a successful capital raising is the pivoting point for Downlights to become a national success story at home as well as in Australia. There is a strong team behind this brand with dedicated supporting contractors who all believe in our journey. Together, we are committed to the dream of creating an internationally distributed candle company that makes a qualifiable difference to the greater community.

 

 

 

 

Use of capital

Downlights is looking to raise between $150,000 and $300,000 to fund its growth plans. This raising adds to the $100,000 raised at the start of 2020 from wholesale investors and existing shareholders. The $100,000 raising allowed Downlights to complete the acquisition and integration of Illumina as well as  adding to the company’s working capital.

 

 

Minimum Raise

Maximum Raise

Fixed Assets for new factory - New Coogar Wax melter

$39,000

$39,000

New factory fitout - Air conditioning/heating + installation, wheel chair access
to building and restrooms, industrial shelving, work tables, computers, additional manufacturing equipment (new jugs, thermometers etc.)

$36,000

$36,000

Manufacturing capability – providing more employment opportunities for our part time employees

$40,000

$60,000

Repayment of Start-up Loans

$0

$50,000

Capital Raising Costs

$20,000

$30,000

Accumulated Working Capital requirement not covered by earnings

$15,000

$85,000

 

 

In addition to the capital raising, Downlights will continue to use overdraft facilities. Read more in our Information Memorandum.

 

 

 

Why we’re crowdfunding

Downlights needs additional capital to fund its growth and meet our goals of providing training and employment opportunities for young adults with Down syndrome and other intellectual or learning difficulties. While we have successfully raised $100,000 from wholesale investors in late 2019 to meet our immediate needs, we need to add to that with crowdfunding because the wider reach of crowdfunding will provide us with the opportunity to expand, employ more people and have adequate working capital to see us through our growth.

 

We believe crowdfunding through PledgeMe will provide Downlights with an opportunity to bring on board members of the community that share the same social values as we do. There is nothing like a feeling of ownership to motivate an individual to offer us a brilliant idea, assistance with a gap in our capabilities or a simple vote of confidence. We want investors who believe in our vision and will be champions for our existing Crew.

 

Capitalisation table for Downlights Limited

 

 

Pre-Share Offer

Post-Share Offer (Minimum)

Post-Share Offer (Maximum)

Investor

No. of Shares

Percentage

No. of Shares

Percentage

No. of Shares

Percentage

Jennifer Del Bel

663,930

60.4%

663,930

50.6%

663,930

43.5%

Tony Sykes / Sykes Family Trust

257,462

23.4%

257,462

19.6%

257,462

16.9%

Amanda Jordan

80,000

7.3%

80,000

6.1%

80,000

5.2%

Other wholesale investors*

98,607

9.0%

111,607

8.5%

124,607

8.2%

Crowd investors

0

0%

200,000

15.2%

400,000

26.2%

Total

1,099,999

100.0%

1,312,999

100.0%

1,525,999

100.0%

* As part of the crowdfunding raising, one wholesale investor will also increase its stake in the company to between 1% and 1.7%

 

Share classes

Non-voting Shares, “Investor shares” ($150-$24,999)

These shares do not give the investor voting rights at shareholder meetings. However, to ensure core rights are protected, Investor shareholders receive the right to one vote when there is a resolution or proposal:

that will affect the rights to the Investor Shares

put the company into liquidation

for the disposal of the whole, or a material part, of the property, business and undertaking of Downlights Ltd.

 

Non-voting shares will give the holders:

The right to an equal share in dividends and other distributions made by Downlights Ltd.

The right to an equal share in the distribution of assets of Downlights Ltd.

 

Voting Shares, “Ordinary Shares” ($25,000 +)

• The investor has voting shares and full voting rights.

 

We encourage you to read our constitution prior to pledging for shares.

 

 

 

Financial commentary

The actual pro-forma profit & loss statement for the half-year ended 30 September 2019 shows the actual financial results for Downlights and Illumina combined as if Downlights had owned Illumina for that period. In fact, Downlights only completed the acquisition of the assets and business of Illumina in February 2020.

 

The projected half-year results for the six months ended 31 March 2020 and the full-year projections for the year ended 31 March 2020 also assume that Illumina had been owned by Downlights for the entire period.

 

The projections for revenue for the years ended March 2021 and 2022 have been constructed by the Board of Directors, considering the likely revenue trajectory from each of the company’s existing sales channels – school sales, retail sales, corporate sales, contract manufacturing, direct / market sales and online sales. The relevant percentages from each of these sales channels are discussed further on page 19. The Board believes that the sales projections are achievable and are based on uplifts in sales volumes which the company can achieve.

 

Gross margins are based on costs of good sold remaining relatively constant, although the material costs of production will be improved through the installation of new equipment (such as a wax melter) at the new factory, which is a major use of the proceeds from this Share Offer. Overall gross margins are projected to improve from 67% in the 2020 financial year, to 76% in 2021 and 78% in 2022.

 

Operating costs are expected to increase as the company grows. To date, none of the founders have been paid by the company and our ability to employ as many part-time Crew as we would like has been limited. Our 2021 and 2022 projections allow for the payment of all employees at rates seen as appropriate by the Board of Directors. We have assumed that these rates will stay constant in 2022.

 

The 2021 and 2022 financial years see a significant increase in the EBITDA of the Company as scale lifts. We expect subsequent years to see earnings grow further.

 

Download the full Information Memorandum to view our historic and forecast financial information, and our Balance Sheet as at 31 December 2019.

 

Management team

JENNIFER DEL BEL: Co-founder

 

With six years candle manufacturing up her sleeve, Jennifer has the necessary skill set to produce a high quality candle, with long, even burning time and optimal scent throw. She has established essential reliable suppliers of quality ingredients and built strategic alliances for Downlights that help provide a promising future. She is passionate and committed to the brand and puts her heart and soul into nurturing the young adults that join the team.

 

Jennifer is a natural born seller with a creative mind that thrives on new product development and market research. She has surrounded herself with a strong team, including Amanda Jordan, Karrina Mountfort, Dave Sauvage and Henward Tan and she would like to take this opportunity to acknowledge their dedication to Downlights.

 

AMANDA JORDAN: Marketing

 

A veteran of the media, advertising and tech industry Amanda will be directing our marketing, PR and partnerships activities. What she lacks in candle making experience she makes up for with a collection of skills including business and go-to-market planning, financial planning and partnership development. Originally spending 5 years in media planning/buying with OMD New Zealand across a portfolio of FMCG and entertainment clients, she then moved to NZME before moving to Sydney for a role with Google. Amanda has since transferred back to New Zealand and moved into the strategic partnerships team, but even after a number of years a slight Australian accent has lingered. Amanda is also a director and advisor to Gallagher Talent Solutions and non-profit AI start-up Citizen AI. Amanda has joined Downlights as a shareholder and director as of January 2020.

 

TONY AND EMMA SYKES: Co-founders

Tony and Emma are a co-founders of Downlights and their story touched the heart of people all over the world. Emma (and now her sister Nicki) assist with candle manufacturing and public events. Tony plays an essential role in manufacturing and dispatch. Most importantly, he attends all major events with Emma and Nicki to support the growth of the brand, and the development of social skills for his daughters.

 

KARRINA MOUNTFORT: Webbased

Karrina, from Webbased, manages our digital marketing. Webbased are a full service online optimisation agency, working with businesses to build an optimised presence online to gain visibility and generate enquiry online. They do this by first building a website that is fully Google optimised and then the implementation of ongoing services across digital marketing channels where customers are searching.

 

DAVE SAUVAGE: Sauvage Design

Dave Sauvage from Sauvage Design is the graphic designer for Downlights. We will continue to utilise Sauvage Design long term to be consistent with the standard of presentation he has given Downlights. Sauvage Design is a boutique graphic design consultancy established in 1995. Dave and his team in Grey Lynn, Auckland and are a creative, dedicated team who pride themselves on achieving creative and effective results for their clients. Their expertise cover all areas of visual communication from corporate identity and promotional literature to packaging and website design.

 

HENWARD TAN: Socia_light NZ

Socia_light NZ’s role is to assist the Downlights Instagram feed reach more and targeted audiences by utilising the algorithm efficiencies of the app. They enhance organic reach by capitalising on the app’s own algorithms.

 

 

The MOXIE crew

MOXIE stands for Meaningful Opportunities X-ing Into Employment.

 

The MOXIE crew visits Downlights every Tuesday for a 4 hour work experience extraordinaire. A team of 4 learn new skills every week to help build their confidence, and their resumes in an effort to assist them on their journey to being a valuable member of the work force.

 

Many of these individuals have potential to be long term employees of Downlights, which will open new spaces for new MOXIE crew to join. MOXIE currently has an extensive wait list of individuals looking for skill placements.

 

 

 

 

 

Risks and Mitigation

Increased production cost due to extra time required to assist - Purchase of the new Coogar Wax Melter will decrease manufacturing time by over 30%, increasing productivity and profit margins

 

Small size of factory limits growth - Downlights is moving into a new premises on 1 April, 2020, with room for growth

 

Cost of international courier fees for web-based sales - Downlights has a meeting booked with New Zealand Post to discuss improved international rates

 

Insufficient staff - A successful capital raise will allow for the introduction of more employees to help manage growth

 

Loss of Key Staff - Downlights have in place procedures for all aspects of manufacturing and dispatch to facilitate transition of a new employee or role change of an existing employee. These procedures include charts for: wick sizes, scent loads, temperatures etc. Packing protocols are sent in place for dispatching of web orders and retail orders with full instructions on how to use Go Sweet Spot (our courier). Additionally, Tony has been upskilled to manage all aspects of manufacturing and dispatch. In a worst case scenario, we can outsource manufacturing and request our team assist in the manufacturing process. Additionally, Google drive has been introduced to house all relevant material, including all marketing plans, box outlines, contacts etc.

 

Economic Downturn - If a downturn were to occur in the economy, there are cost saving strategies in place to reduce expenditure to help ensure the company is operating at its best capacity. The introduction of the new wax melter significantly increases our margins and production speed, allowing for time to be allocated to diversifying income channels. We will keep a close eye on accounts to ensure we have all necessary measures in place.

 

Crowded Market Place - Downlights’ points of difference make it a stand out in the existing market place. If it experiences any issues making a firm place in the current market, we will implement new products to diversify our range and

stay relevant.

 

Cashflow - The risk of not having enough cashflow to meet obligations - We are committed to reaching the targets we have set. Any late payments will be chased up, either in-house or by an outsourced agency. We have a strong relationship with ASB and will continue to work closely with them. We are also thrifty and will use existing capital wisely to ensure this is a minimal risk.


Wax Shortage - The six-year relationship Illumina has with its wax supplier ensures that they store an excess of 10 pallets of wax for us to draw down on. This volume of wax is high in order to prevent any shortage of wax in anticipation of a large order or delay in shipping.

 

Note from PledgeMe 

We have completed a Veda check on the company and their Directors, as well as a Google check. There were no adverse findings.

 

 

 

Updates 12

We’re really almost there!

19/05/2020 at 10:05 PM

We’ve had such a wave of support in the last few hours - going from almost 60% to almost 90% funded in the last few hours.

 

We think we can make it - so we’re doing one more two-day push to give us a bit more time to make that final goal.


Thanks to everyone who has promoted, shared, and pledged to this campaign.

 

Cheers,

 

Jenn and the Downlights crew

We are over 76% funded!

19/05/2020 at 7:55 PM

Wow! Deadline magic is happening, and we want to thank everyone that has pledged so far. We're over 76% funded now, with a few hours to go. 

 

We're going on another Live tonight at 9:30pm with Pat McFie from Manaaki, so the campaign will go until 10pm.

 

Thanks in advance for any final sharing or pledging. We're almost there!

 

Jenn and the Downlights Crew

We’re almost there! Campaign closes at 9pm tonight.

19/05/2020 at 1:36 PM

We’re here! The final day (again) and so much closer to our goal. In the past few days, we’ve had 24 new people invest, and we’re almost 60% funded. We could make it, but we need some help.

If you haven’t already invested, please consider doing so now. You have until 9pm tonight, Tuesday 19 May. And, please share this campaign - tell people what we do and why you support us. Here’s the link again: https://pledgeme.co.nz/investments/390-downlights-limited

Things aren’t stopping here. Yesterday, Nicki (with Tony and Jennifer) were handed the front door keys to the brand new Downlights HQ. Nicki ran up the steps and is proud to be able to say she is the first one to officially enter our new home.

Downlights HQ has enough room for social distancing and for all our boxes and supplies - no more candles blocking the TV or under Emma’s bed!

The sad news is that while we are so excited about our new premises, not reaching our minimum means we cannot extend the Downlights team and employ more young adults with disabilities.

We do what we do to provide opportunities and jobs for our young people. You’ve already met Nicki and Emma as part of our campaign, but over the past few days on Facebook we’ve been introducing everyone to our team, including:

 

Taylor

Taylor loves swimming, the band Oasis, looking after the horses at Ambury Park and going to drama classes. Taylor also loves learning new things and is thriving at Downights. She especially loved learning to make soy melts, and has the confidence to try and learn skills way outside her comfort zone because she knows that working at Downlights with Jenn (Who Taylor says she calls Joy Jenn, because she is always happy) is a safe environment without fear of failure. These new social skills, communication skills and self assurance has had a positive effect on her life outside of Downlights too.

Taylor is SO proud to be able to tell people she has a proper job working at Downlights, something she never thought she would accomplish. She says: “I had a goal to learn how to use the EFTPOS machine and that was hard but I can do it now. I used to find pouring the candles hard, but now that I have a special prop to help me, I can pour much cleaner”.

Taylor has always come to work with the brightest smile and she remembers the names of everybody she meets and this is such a wonderful part of her personality.

 

Miles

“I’m Miles. I like funky socks (I have socks with pickles, bacon, pizza, soldiers etc), I love old school video games and my two favorites are Spryo and Crashbandicoot. I have a grey cat, Josie the cat, and she is a lazy cat. I love American and Australian accents and I love Disney land in America. I like Emma, and Nicki, and Jennifer and Tony and Rick and the butterflies and all the people I work with and I like snack time”.

Miles has thrived at Downlights and for his family this is another wonderful step towards his independence as an adult. His concentration has improved significantly, he likes the camaraderie and going to “work with Emma and Nicki” and work also gives Miles purpose and a meaningful and enjoyable work experience.

“I have learned how to make candles really fast and I can pour really well without making a mess”.

 

Kirsty

Kirsty loves her phone, the band One Direction, she loves tennis and cycling. She loves Pretty Little Liars and Paige Mc Cullers is her favourite character. Kirsty also loves eggs, coffee and hokey pokey ice cream. For Kirsty, working with Downlights has grown her social skills, given purpose and goals to her week and provided her with a personal sense of achievement, something she never had previously. Kirsty LOVES candles. She loves making them and loves giving them to people. She is so proud of what she does.

Kirsty likes and needs routine in her life so having a job which she understands and is constant gives her a sense of security and calm because she knows what is happening for that day. Kirsty is an introvert and is very happy in her own company, but Downlights gives her the opportunity to also sometimes interact with other people like Emma, Nick and Jack but with no pressure or expectation. As a result Kirsty has expanded her social skills and has even asked to become part of the Downlights stall team at markets! Yay Kirsty!

 

Jack

Jack joined Downlights as part of the Recreate Moxie programme and his work experience with us has extended Jack in ways we never expected.

For Jack’s family it has been wonderful to see Jack exude a sense of self-worth and success because of his growth from Downlights. He has a supportive and enthusiastic team behind him which has meant Jack is engaged and not afraid of making mistakes like he usually is. Jack is constantly told he is amazing and capable and as a result mistakes are OK for Jack. Jack even knows he might be better at making candles than Tony and had also bravely learned to use the EFTPOS machines at the Downlights stalls at markets.

Because of Downlights Jack has also decided to take a train and a bus by himself to get to work, something his mum Tracy says would never have happened if Jack wasn’t so proud and confident in his work.

 

We’ll have one final Facebook Live tonight at 8:45pm to close out the campaign. If you’d like to watch, ask questions, or provide some feedback here’s the link: https://www.facebook.com/downlightsnz/live

 

Thank you again for your support,

 

Jenn

 

Our sales are soaring - help us hit our equity crowdfunding goal!

15/05/2020 at 12:56 PM

We are in the final days of our extended campaign and we are just under half way to reaching our minimum target of $150,000.

So far, one hundred and thirty supportive Kiwis have pledged to help us move into larger premises, purchase new manufacturing equipment and offer a living wage to the seven young adults with disabilities who comprise our manufacturing team. 

While Downlights will be able to continue to operate regardless, without this capital Downlights will no longer be able to offer paid employment or expand to the scale we need to, to build on our good work.

Covid-19 presented some unique challenges for Downlights, just like many other small businesses in New Zealand but especially given the timing of our campaign launch. BUT, the dedication of our management team helped us to strongly exceed our expectations outlined in the forecasts in our Information Memorandum. 

In fact, our online sales for April 2020 were 92% higher than projections, and we have already generated 3x more online sales than we projected for May... and we're only halfway through the month! Our retail sales channels and contract manufacturing contracts have not slowed down at all.

In short, we are reaching the targets we set out to achieve with ease. If we are going to achieve this goal, we need your help to cross the finish line

I am reaching out to you to ask you to share this with as many people as you can. The phrase “six degrees of separation” is so relevant right now, as one of your six could be the person who helps change the lives of the young adults that we want to employ. 


Thank you again for your support,

Jenn and the Downlights crew

Moving (and Extending) with the Changes

05/05/2020 at 8:36 PM

We’ve had such a wave of support over the last week - with a huge spike in both sales and pledges. Thank you to everyone that has come on board the PledgeMe campaign and made purchases in time for Mother’s Day. 

 

Honestly, it’s been a hard time for us - as it has been for everyone! With all the changes, uncertainty, and our team spread across our homes. Our community has felt less able to invest, as they wait to see how the world changes in Level 3, and hopefully soon Level 2.

 

We’ve also had a few larger investors discuss investing, but they’ve asked for a bit more time to make that decision. 

 

At our request, PledgeMe will do one final extension to our campaign to give us (and our crowd) a bit more time to get us across the line. Our campaign will now close on 19 May at 9pm. Please email PledgeMe ([email protected]) or me if you have any questions. 

 

With all the changes happening in the world, we believe we are needed now more than ever. We can keep going from Jenn’s home and with our small but perfectly formed team. But we want to grow - both our impact and our revenue. And we believe with $150,000 we can make that happen.

 

Jenn and the Downlights crew

So Close and Closing!

05/05/2020 at 2:42 PM

We are in the final countdown of our Pledge Me campaign – 6.5 hours to go before it officially closes. So if you have been thinking about pledging, now is the time to do it. And you can get yourself a sweet reward too – pledge just $300 and receive an ongoing 20% off all our products!

 

Our website sales are still skyrocketing with over 1,000% week on week growth – AGAIN! And new retail orders are coming in. We’ve also seen some serious pledging activity happen over the past couple of days which makes us believe we can reach our minimum target of $150k tonight.

 

So, please help us get over the line. Join us and pledge here: https://pledgeme.co.nz/investments/390-downlights-limited

 

For those of you that have already pledged - thank you! Please help spread the word by sharing with your friends and family.

 

We look forward to welcoming you all on board as new shareholders in Downlights!

Jenn and the Downlights crew

The Finish Line is in Sight!

02/05/2020 at 3:07 PM

We are so close! We can see it! The beautiful ribbon at the finish line that you get to burst through when you cross the line.  

 

There are only a few days to go on our equity crowdfunding campaign and the momentum is picking up. Every carefully written post….. every prepared Facebook Live….. every personal email and phone call that has collectively helped us broaden our reach to potential investors. We are 1/3 of the way to our minimum goal despite the unprecedented economic and personal upheaval.

 

But how? Why? 

Downlights is not a typical ‘vanilla’ company (but we are beautifully fragranced). 

We are a team of passionate believers; a group of quick thinking, intelligent lateral thinkers that believe every problem has a solution.

But most importantly, at the core of Downlights there is a heart that is so pure, and this is thanks to our wonderful team and the ethos that we hold true and has seen the Downlights story to continue to gain support.   

 

During one of the most unusual periods in global history we have sought to find new ways to succeed - and they are working! 

The dramatic rise in web-based sales has been a true team effort with a 1,200% week over week increase in online revenue (yes, we triple checked!). Jennifer had packed hundreds of orders since we reopened our online business and we are ahead of the financial projections that were included in our Information Memorandum.

 

So we need to say a huge thank you: 

Thank you Karrina Mountfort, for the hours and dedication you continue to provide us through digital marketing and website management. 

Thank you Dave Sauvage, for the incredible artwork you continue to produce even when under pressure. 

Thank you Nikki Ross, for the stunning flat lay photography for our Mother’s Day product campaign.

Thank you Henward Tan  for your continued support with our social media 

Thank you to Webb Henderson, for your legal guidance with our capital raising

Thank you Amanda Jordan for accepting the role alongside me as a Downlights director and for immediately sinking your teeth into the go-to-market planning, marketing and delivering meaningful messages to our followers every week. 

Thank you Anna, Paula and to the entire PledgeMe team for your unwavering support. 

Thank you to our Downlights Moxie Crew for supporting our Facebook Lives every week, for championing the Downlights business and for having faith in Downlights as your employment provider. 

Last and most importantly, THANK YOU TO ALL OF YOU that have joined us on this journey by becoming an investor, or by sharing a post to help us find new investors and members of our Downlights team.

 

To our pledgers, our new Downlights whanau who have already pledged: thank you again! Please keep sharing our story so we can reach our campaign goal. 

 

Let’s make this happen, together.

 

Jenn and the Downlights crew

Mother's Day and New Minimum!

28/04/2020 at 6:37 PM

We are delighted with the response to our Mother's Day Mini range.The release of our NEW seasonal fragrance, Persian Rose, has been extremely well received across direct sales and wholesale channels. Jennifer has found herself surrounded by packages waiting to put smiles on the faces of mothers, aunts, step-mothers and mother figures all over New Zealand, Australia and the USA….as well as people buying these beautiful minis just for themselves.

 

 

We are also very pleased with the performance of our existing and new sales channels. With the announcement that NZ will be moving to Level 3 and our marketing announcement that Downlights will be able to process and deliver orders we have seen a 156% week over week increase in online sales. 

 

In addition to direct ecommerce sales we have had a very positive response from our existing retail base and new retailers who signed up at the recent trade fair in March. We have had retailers following up on their orders and are eagerly awaiting their arrival so they can highlight these products as soon as stores reopen. We are also in discussions with several businesses for contract manufacturing orders that are being planned for Christmas 2020.

 

We’ve had some feedback from potential pledgers to our equity crowdfunding campaign, asking to make it more accessible. With that feedback, we’ve decided to lower our minimum investment amount to $NZ150. 

What does this mean? The price per share will stay the same, but new pledgers will be able to invest from $150. If you have any questions, please let myself or PledgeMe know.

 

So if you or anyone you know would be interested in a Mother's Day gift with twice the impact, please share our campaign and this update with them also: https://pledgeme.co.nz/investments/390-downlights-limited

 

We need to hit our goal by our deadline for the funds to be processed, and then we can invest in growing our impact and production capacity.

 

Please join us on this journey.

 

Jenn and the Downlights Crew

20% funded!

17/04/2020 at 5:24 PM

It has been three weeks since we launched our equity crowdfunding campaign and we have reached another milestone, raising over 20% of our minimum goal of $150,000 thanks to 43 wonderful investors! Thank you so much for supporting us.

 

In the last week, our campaign has received a lot of local support in the form of posts and newsletters from organisations including the New Zealand Down Syndrome Association, UpsideDowns, and Akina. Thank you for every Facebook post, LinkedIn share and email forward - the more we broaden the awareness of our PledgeMe equity crowdfunding campaign the better!

 

Jennifer was also featured in a Buy NZ Made interview this week which has been turned into a video and podcast and the New Zealand Down Syndrome Association has produced and released two videos on Emma and Nicki’s story and the Downlights NZ story. We hope you love them as much as we do. 

 

With recent announcements, we hope NZ has turned a corner and sunnier Level 3 days are coming. Level 3 for us means we are able to process and ship e-commerce orders which is wonderful news! Just in time for Mother's Day…. And guess what…. we have the perfect gift just waiting to be sent out with new releases coming soon. Dispatch of orders will be managed by Jennifer from her home for the next few weeks until we are confident that the team can return to work safely.

 

We all cannot wait to have our Downlights Crew back together and there are lots of stored up hugs ready to be delivered…. But don’t worry Miles, we promise ‘we cannot hug people until the all-clear is given’. For an explanation, check last night’s Facebook Live with the MOXIE crew at the 19m00s point to receive Mile’s advice about hugs.

 

If we can find another 890 Kiwis who will each pledge $300, we will hit our maximum campaign goal. Can you help us find some of these people? Please share our story! 

 

Thank you again,

 

Jenn and the Downlights Crew

On Our Way To The Halfway Mark!

08/04/2020 at 1:28 PM

It has been two weeks since we launched our equity crowdfunding campaign with PledgeMe and we hit our first milestone yesterday, reaching 10% of our minimum thanks to 23 wonderful investors!

 

The timing of our launch was rather unusual and we acknowledge it has taken everyone time to settle into their “new normal”. As a result, we are extending our campaign by two weeks to maximise our opportunity to reach our ultimate goal of $300,000. 

 

We are thrilled to have Grace Stratton from All is for All joining us for our Facebook live on Thursday 9th April (tomorrow) at 7pm, so click the link HERE to meet this powerhouse woman.

 

Thank you again to all of our supporters and a special thank you to those who have already invested in Downlights. Please share our posts and our campaign page with your networks to help our story reach new investors, so we can reach our maximum target of $300,000. Here’s the link to our campaign page to share: https://pledgeme.co.nz/investments/390 Hitting our maximum means we can immediately employ six young adults with Down syndrome and intellectual or learning disabilities. 

 

Downlights’s goal is to help make the world post-Covid an inclusive one. That includes you and we are thankful you are a part of our journey. 

 

Cheers,

 

Jenn and the Downlights Team

Week One: Thank you for supporting!

02/04/2020 at 11:10 AM

Thank you for pledging and following our campaign. We certainly have launched during an unprecedented time and we hope you view this as a strong indication of our commitment and dedication to building a resilient business.  

 

Numerous retailers from the recent trade show we attended have reached out to notify us that they still want their orders as soon as we are able to dispatch.  In addition, schools that had fundraising campaigns for Term One have moved to Term Two, so there is only a delay in our school fundraising efforts. We made a conscious decision weeks ago to pull out of all public markets for the safety of our staff and we will continue to monitor this after the ban is lifted. Consequently, we are pursuing new sales strategies in other channels and cost reductions to accommodate for any shortfalls in the projections.

 

As the managing director, I firmly believe we will come out of this difficult time shining.  Now, more than ever, Kiwi’s are supporting locally made products. We have the added bonus of being a fwd: certified social enterprise (and we are receiving extensive support from Akina) as well as having a charitable trust component, which makes our brand even more attractive during times of turmoil.  

 

In times like these, during great economic uncertainty, people from the disability community are often the first to be affected, the first to be left off the list, the first to experience the impact of crisis. Now, more than ever, we must band together and champion inclusion, diversity, and accessibility within business.

 

If you missed it, we hosted a Facebook Live last week with our founders and directors. You can watch it here: https://www.facebook.com/downlightsnz/videos/238510403993809 

 

We’re hosting a Facebook Live tonight at 8pm with me and Tony, Emma and Nicki Sykes (below) to hear the reason Downlights was started. You can see all of our Facebook Lives (including that one) here: https://www.facebook.com/downlightsnz/live/

 

 

If you have any questions at all, I am more than happy to answer directly with an email or a phone call.  We hope you will take the next step and join us on this journey and become a valued investor in Downlights and a genuine contributor to social change. 

Cheers,

Jenn and the Downlights Team

Our equity crowdfunding campaign for Downlights is live!

23/03/2020 at 1:33 PM

Kia ora,

We’re live! Here’s the link to our campaign: https://pledgeme.co.nz/investments/390

If you’re interested in investing in Downlights, please head over to our campaign page now (if you aren't on here already!)

If you need some help investing, here are instructions on how to do that: https://guide.pledgeme.co.nz/how-to-invest. You can also email PledgeMe on [email protected] for support.

And, please join us for our Facebook Live at 8pm tonight. Our team will be celebrating the birth of our campaign, and the birth of Jenn’s daughter :) You can join the party by clicking this link. Celebrate with us, ask any questions, and be a part of our crowd.

Cheers,
Jenn and the Downlights Crew

    Details

    Offer Details

    Current Valuation 825,000
    Raise Minimum 150,000
    Raise Maximum 300,000
    Share Price 0.75
    Maximum Shares Offered 400,000
    Explanation of valuation:

    Valuation of Downlights was undertaken by the company Directors with internal and external input. We have valued Downlights at $825,000 before the share offer is completed.
    • We have formulated medium and long term projections for the company, assuming the impact of the share offer on Downlights’ ability to manufacture and distribute more product as well as provide employment and training opportunities for young people with Down syndrome and intellectual or learning disabilities.
    • The methodology used to value Downlights from the projections was to capitalise the revenue and earnings (EBITDA) of the company at multiples the Directors considered reasonable, considering the multiples applied in recent equity crowdfundings thought most comparable to Downlights.

    Financial Summary

    Prev Year Current Year Est. FY 2022 Est. FY 2023
    Revenue NZ $32,169 NZ $192,200 NZ $428,200 NZ $469,300
    Operating Expenses NZ $21,729 NZ $142,500 NZ $263,400 NZ $269,700
    EBITDA -NZ $29,539 -NZ $14,400 NZ $61,600 NZ $94,700
    Net Profit -NZ $30,837 -NZ $17,100 NZ $52,000 NZ $82,500

    Company Details

    Company Name: Downlights Limited

    Company Number: 6843496

    Company details are currently being synced with the Companies Office, please wait.

    Company Documents

    Documents no longer available to download, as this campaign has closed

    Director Details

    Name Role Profile URL Invested?
    Jennifer Del Bel Founder and Director https://www.linkedin.com/in/jennifer-del-bel-08349578/
    Amanda Jordan Director https://www.linkedin.com/in/amanda-jordan-gallagher/

    Questions 1

    Ask a Question (You must login to ask a question)


    Hi there, you guys are doing an awesome job congratulations!! I am the CLP for the Taranaki Down Syndrome Association and very interested to find out more in regards to the job opportunities working for down lights we have members that would love to be involved or is this based in Auckland only. Thanks Sandy

    Posted on 10-05-2020 by Sandra Slattery

    HI Sandra,
    Thank you for your very kind words. I have to stress, the purpose of the capital raising is to help us have the cash flow to be able to pay our young adults. Without success here, we will fall seriously short and will not be able to pay any of our existing staff. We need support: SHARE SHARE SHARE our story of our capital raising so we can reach the minimum target. Here is my email: [email protected] I am keen to discuss further with you via email.

    Answered on 11-05-2020 by Jennifer Del Bel

    Pledgers 233

    Megan Mathie
    2020-04-07 17:34:16 +1200

    "I respect and admire your business, and the opportunity it provides for young people with disabilities. Best of luck!"

    Charlotte
    2020-04-07 13:54:24 +1200
    Margaret Jordan
    2020-04-07 13:24:34 +1200

    "Wishing you every success "

    Stefan Ivan Talaic
    2020-04-07 12:33:31 +1200

    "Love your work. Uncle Chris Jordan would be so so proud!!! Stefan, Sarah, Chloe and Fletcher Talaic "

    brett
    2020-04-06 20:59:18 +1200
    Zoe Campton
    2020-04-04 22:41:43 +1300
    Alana Murray
    2020-04-04 18:12:45 +1300
    michal
    2020-04-04 14:26:32 +1300
    Puleikiua Tasmania
    2020-03-29 01:44:20 +1300
    Natalie Scollay
    2020-03-28 15:27:24 +1300
    Robyne Cooper
    2020-03-27 16:01:03 +1300

    "Fabulous People, Employing Fabulous People To Make Fabulous Products - Whats Not To Love!"

    Paul Arraj
    2020-03-27 10:30:59 +1300
    Geoff Dalbeth
    2020-03-27 07:23:09 +1300

    "I love your candles and the concept. Well done."

    Liz HowePledgeMe Staff
    2020-03-26 20:44:57 +1300
    Dennis Marshall
    2020-03-26 18:27:05 +1300

    "Great cause - best of luck!"

    martin garrood
    2020-03-26 18:12:25 +1300

    "I am really pleased to be able to support such an excellent venture"

    Bevan Wallace
    2020-03-26 18:10:09 +1300
    Nathan Callaghan
    2020-03-26 17:31:59 +1300

    "This makes me happy"

    Robert Donaldson
    2020-03-26 16:52:11 +1300

    "I am delighted to be associated with this campaign."

    James Dixon
    2020-03-24 11:37:17 +1300
    Jennifer Del Bel
    2020-03-23 13:04:55 +1300

    "Love Mom and Bob."

    Paula NightingalePledgeMe Staff
    2020-03-23 12:27:32 +1300

    "Such a lovely campaign to support!"

    Anna GuentherPledgeMe Staff
    2020-03-23 12:09:40 +1300

    "Wahoo! So excited to be able to support this :)"

    Downlights Limited

    Letter from Jennifer

    Childhood memories of my grandmother’s dressing table adorned with crystal bowls that were filled with her antique jewelry became the signature look of Illumina. The first fragrances I developed were reminders of my life in Canada. Nothing can compare to the soft glow and the sweet aroma that candles can bring to a room invoking memories.

     

    I lived Illumina for the past six years and enjoyed every moment of it but I still wanted my love and passion to be a part of something even more purposeful and fulfilling.

     

    It was serendipity that I was introduced to Tony and Emma Sykes in 2018. Their story of struggle combined with frustration and rejection when Emma, who has Downs Syndrome, was looking for work was the start up spirit for Downlights. No one can choose how we are born. We all have one thing in common, we are all soulful beings who contribute to this world in different ways. Every one of us is unique and a treasure. Just like puzzles, we are all different pieces which together make a whole. I believe living life with love as our guide is our purpose on earth. To be consciously aware of it and to experience love in ourselves and others is the meaning of life.

     

    Today my heart is full of joy as I am fortunate enough to live my belief and I am proud to provide my knowledge, passion and values as a guiding light to all youth joining Downlights. Downlights has impacted so many lives and brought good to so many people. We remain future oriented as the future belongs to those who believe in the beauty of their dreams.

     

    We translate vision into capacity, creating a promising future in hope to inspire others to do the same. I would like to thank you for your time and consideration of investing in Downlights. We are very confident in our products and we know we will grow and you will be able to follow our success and grow with us.

     

    Jennifer Del Bel

    Jennifer Del Bel

     

    Background

     

    In 2017, Emma Sykes, who has Down syndrome, completed her final year at Sommerville Special School at the age of 21. Her father, Tony, helped Emma look for a job, only to be turned down by every business, large or small. Tony expected it would be difficult as Emma is largely non-verbal, but he wanted his daughter to have a fulfilling life. This led to the idea of making candles as a hobby. It was at this point that Tony discovered it was not as easy as he thought, so he looked for help and was directed to Jennifer Del Bel from Illumina Soy Candles (Illumina), who had six years of experience in the industry. This was the beginning of an unexpected journey.

     

     

    Jennifer began to work with Emma and Tony, offering guidance and the use of her work premises, raw materials and ingredients to see if Emma could manage the skill set required to hand pour a quality candle. It became immediately clear that Emma was benefiting on so many levels from the experience, so together, they made enough products to allow Emma to sell a small range of candles at a local market in Beachlands. Pohutukawa Coast Times ran an article on Emma and overnight a star was born. The market was a sell out and shortly after, a segment aired on Seven Sharp with Tim Wilson, catapulting the newly named business into international recognition.

     

    Over the next 18 months, Jennifer used her knowledge and experience from Illumina to develop a mid-priced soy candle range that was of exacting standards to sell across local markets in New Zealand. Using Illumina’s IP and historical contacts resulted in a luxury, high quality hand poured soy candle range with signature fragrances that impressed customers. Strategic alliances were formed with the Lindsay Foundation, Life Education Trust and the ASB Bank. Award nominations followed and numerous articles nationally and internationally were written with a YouTube clip by Star Trek’s George Takei boasting 1.4 million views in 24 hours, further contributing to the growth of the brand. It became apparent that Emma was a symbol of hope for all, and Downlights forged forward, setting an example for other companies and individuals.

     

    The introduction of the MOXIE crew in early 2019 (and Emma’s sister Nicki) broadened our scope as we began to offer work experience programmes not only to young adults with Down syndrome, but also with intellectual or learning disabilities. The success of this programme has benefited many, beyond the walls of the small candle factory, and will continue to do so.

     

    We are proud to be on Ākina’s social procurement platform fwd:, as a certified social enterprise. We are passionate about our people and the community. The establishment of Downlights Charitable Trust in early 2020 allows for the donation of NZ$1 from every candle sold to our beneficiaries, the New Zealand Down Syndrome Association and Recreate NZ.

     

    We complete our circle of giving with our fundraising division, which offers schools and community clubs the opportunity to sell our candles to raise funds for their essential projects.

     

     

     

    The range

    Under our company we have a total of 13 luxury Illumina Stock Keeping Units (“SKUs”) and 20 SKUs for Downlights with the launch of three new Downlights Mini Candles and a NEW Mother’s Day Fragrance debuting at the Gift Fair, mid March, 2020. Our core product line is candles, but we also sell candle accessories and reed diffusers, plus we offer a candle refill service from Urban Herbalist in Orakei Bay Village. We offer a more affordable range of products for Downlights Fundraising, Pop-ups and markets, to maintain a high end position in retail outlets. New product development is well underway for 2020 with a few surprises we will keep up our sleeves for now.

     

    WHY SOY? The soy wax we use in our candles satisfies eco-conscious consumers because it is 100% biodegradable, non-toxic, and GMO-free. Our candles also have wicks that are lead and zinc-free. Our wax provides an even, clean burn with incredible scent throw and the longest possible burn time for each fragrance, candle or soy melt.

    THE PRODUCTS

    The highest level of quality control has been maintained over the years through our wick testing procedures along with a three point check system for every hand poured candle before it leaves our factory. Each and every candle is lovingly hand poured and all aspects of production are completed by one of our crew according to their unique capabilities. The result is a high quality essential lifestyle product with an emotional appeal and range of signature scents that leave a lasting impression.

     

    Market opportunity

    The world has a love affair with candles. The scented candle market is estimated to reach between US$ 11.7B in 2025 CAGR 5.5% (Source: Research and Markets). For reference, the entire retail category is estimated to grow at 4% during the same period. (Source: Statista). In Australia, the Australian scented candle market is worth $200 million dollars per annum.

     

    Six years of IP from acquiring the assets of Illumina have given Downlights a significant head start. Jennifer has been working with Francois Merle-Baudoin, a fifth-generation award-winning French perfumer from the internationally famous Grasse parfumeries in the French Cote D’ Azure, to create bespoke fragrances for Downlights.

     

     

     

    How we are different - products, people and planet

    The growth plan

    We are fortunate that Downlights has not started from the ground up. It started half way there with the solid base provided from Illumina. Set in place is a solid business structure with a strong point of difference due to its socially conscious core which defines and distinguishes the brand on the global candle market. We will remain steadfast to our values as we strive to solidify growth according to our capacity within New Zealand, then beyond.

     

    Research and development is carefully considered to position our products and price points within the reaches of the markets we are targeting. Add to this a keen awareness to adhere to the design principles that distinguish the brand and the focus on our Point of Difference and we will hold a strong place in the market. Quality will always be at the forefront coupled with new product and fragrance releases according to the season and the trends.

     

    Downlights will maintain direct sales as attendance at public events such as the Auckland Home Show and General Collective Market provide our Crew with valuable work place experience and we are committed to empowering our staff. In 2020, we look forward to continuing our relationship as a contract manufacturer to Life Education Trust, as well as the luxury gift store and hotel clients from Illumina’s repertoire. Assuming a successful capital raise, this is an area that will be pursued long term. The candle refill service we provide and the fundraising division offer promising avenues for growth that are not limited to Auckland, as does our position on Ākina’s fwd: platform.

     

    Additionally, we made our debut on the retail front March 7th, as PechaKucha guest speakers as well as exhibiting at New Zealand’s Winter Gift and Homeware sale. We will attend the Spring fair in September with an exciting new range to help us introduce the beginnings of a more diverse range to assist with expansion into Australia in 2022.

     

    Our growth is limited by our ability to expand and a successful capital raising is the pivoting point for Downlights to become a national success story at home as well as in Australia. There is a strong team behind this brand with dedicated supporting contractors who all believe in our journey. Together, we are committed to the dream of creating an internationally distributed candle company that makes a qualifiable difference to the greater community.

     

     

     

     

    Use of capital

    Downlights is looking to raise between $150,000 and $300,000 to fund its growth plans. This raising adds to the $100,000 raised at the start of 2020 from wholesale investors and existing shareholders. The $100,000 raising allowed Downlights to complete the acquisition and integration of Illumina as well as  adding to the company’s working capital.

     

     

    Minimum Raise

    Maximum Raise

    Fixed Assets for new factory - New Coogar Wax melter

    $39,000

    $39,000

    New factory fitout - Air conditioning/heating + installation, wheel chair access
    to building and restrooms, industrial shelving, work tables, computers, additional manufacturing equipment (new jugs, thermometers etc.)

    $36,000

    $36,000

    Manufacturing capability – providing more employment opportunities for our part time employees

    $40,000

    $60,000

    Repayment of Start-up Loans

    $0

    $50,000

    Capital Raising Costs

    $20,000

    $30,000

    Accumulated Working Capital requirement not covered by earnings

    $15,000

    $85,000

     

     

    In addition to the capital raising, Downlights will continue to use overdraft facilities. Read more in our Information Memorandum.

     

     

     

    Why we’re crowdfunding

    Downlights needs additional capital to fund its growth and meet our goals of providing training and employment opportunities for young adults with Down syndrome and other intellectual or learning difficulties. While we have successfully raised $100,000 from wholesale investors in late 2019 to meet our immediate needs, we need to add to that with crowdfunding because the wider reach of crowdfunding will provide us with the opportunity to expand, employ more people and have adequate working capital to see us through our growth.

     

    We believe crowdfunding through PledgeMe will provide Downlights with an opportunity to bring on board members of the community that share the same social values as we do. There is nothing like a feeling of ownership to motivate an individual to offer us a brilliant idea, assistance with a gap in our capabilities or a simple vote of confidence. We want investors who believe in our vision and will be champions for our existing Crew.

     

    Capitalisation table for Downlights Limited

     

     

    Pre-Share Offer

    Post-Share Offer (Minimum)

    Post-Share Offer (Maximum)

    Investor

    No. of Shares

    Percentage

    No. of Shares

    Percentage

    No. of Shares

    Percentage

    Jennifer Del Bel

    663,930

    60.4%

    663,930

    50.6%

    663,930

    43.5%

    Tony Sykes / Sykes Family Trust

    257,462

    23.4%

    257,462

    19.6%

    257,462

    16.9%

    Amanda Jordan

    80,000

    7.3%

    80,000

    6.1%

    80,000

    5.2%

    Other wholesale investors*

    98,607

    9.0%

    111,607

    8.5%

    124,607

    8.2%

    Crowd investors

    0

    0%

    200,000

    15.2%

    400,000

    26.2%

    Total

    1,099,999

    100.0%

    1,312,999

    100.0%

    1,525,999

    100.0%

    * As part of the crowdfunding raising, one wholesale investor will also increase its stake in the company to between 1% and 1.7%

     

    Share classes

    Non-voting Shares, “Investor shares” ($150-$24,999)

    These shares do not give the investor voting rights at shareholder meetings. However, to ensure core rights are protected, Investor shareholders receive the right to one vote when there is a resolution or proposal:

    that will affect the rights to the Investor Shares

    put the company into liquidation

    for the disposal of the whole, or a material part, of the property, business and undertaking of Downlights Ltd.

     

    Non-voting shares will give the holders:

    The right to an equal share in dividends and other distributions made by Downlights Ltd.

    The right to an equal share in the distribution of assets of Downlights Ltd.

     

    Voting Shares, “Ordinary Shares” ($25,000 +)

    • The investor has voting shares and full voting rights.

     

    We encourage you to read our constitution prior to pledging for shares.

     

     

     

    Financial commentary

    The actual pro-forma profit & loss statement for the half-year ended 30 September 2019 shows the actual financial results for Downlights and Illumina combined as if Downlights had owned Illumina for that period. In fact, Downlights only completed the acquisition of the assets and business of Illumina in February 2020.

     

    The projected half-year results for the six months ended 31 March 2020 and the full-year projections for the year ended 31 March 2020 also assume that Illumina had been owned by Downlights for the entire period.

     

    The projections for revenue for the years ended March 2021 and 2022 have been constructed by the Board of Directors, considering the likely revenue trajectory from each of the company’s existing sales channels – school sales, retail sales, corporate sales, contract manufacturing, direct / market sales and online sales. The relevant percentages from each of these sales channels are discussed further on page 19. The Board believes that the sales projections are achievable and are based on uplifts in sales volumes which the company can achieve.

     

    Gross margins are based on costs of good sold remaining relatively constant, although the material costs of production will be improved through the installation of new equipment (such as a wax melter) at the new factory, which is a major use of the proceeds from this Share Offer. Overall gross margins are projected to improve from 67% in the 2020 financial year, to 76% in 2021 and 78% in 2022.

     

    Operating costs are expected to increase as the company grows. To date, none of the founders have been paid by the company and our ability to employ as many part-time Crew as we would like has been limited. Our 2021 and 2022 projections allow for the payment of all employees at rates seen as appropriate by the Board of Directors. We have assumed that these rates will stay constant in 2022.

     

    The 2021 and 2022 financial years see a significant increase in the EBITDA of the Company as scale lifts. We expect subsequent years to see earnings grow further.

     

    Download the full Information Memorandum to view our historic and forecast financial information, and our Balance Sheet as at 31 December 2019.

     

    Management team

    JENNIFER DEL BEL: Co-founder

     

    With six years candle manufacturing up her sleeve, Jennifer has the necessary skill set to produce a high quality candle, with long, even burning time and optimal scent throw. She has established essential reliable suppliers of quality ingredients and built strategic alliances for Downlights that help provide a promising future. She is passionate and committed to the brand and puts her heart and soul into nurturing the young adults that join the team.

     

    Jennifer is a natural born seller with a creative mind that thrives on new product development and market research. She has surrounded herself with a strong team, including Amanda Jordan, Karrina Mountfort, Dave Sauvage and Henward Tan and she would like to take this opportunity to acknowledge their dedication to Downlights.

     

    AMANDA JORDAN: Marketing

     

    A veteran of the media, advertising and tech industry Amanda will be directing our marketing, PR and partnerships activities. What she lacks in candle making experience she makes up for with a collection of skills including business and go-to-market planning, financial planning and partnership development. Originally spending 5 years in media planning/buying with OMD New Zealand across a portfolio of FMCG and entertainment clients, she then moved to NZME before moving to Sydney for a role with Google. Amanda has since transferred back to New Zealand and moved into the strategic partnerships team, but even after a number of years a slight Australian accent has lingered. Amanda is also a director and advisor to Gallagher Talent Solutions and non-profit AI start-up Citizen AI. Amanda has joined Downlights as a shareholder and director as of January 2020.

     

    TONY AND EMMA SYKES: Co-founders

    Tony and Emma are a co-founders of Downlights and their story touched the heart of people all over the world. Emma (and now her sister Nicki) assist with candle manufacturing and public events. Tony plays an essential role in manufacturing and dispatch. Most importantly, he attends all major events with Emma and Nicki to support the growth of the brand, and the development of social skills for his daughters.

     

    KARRINA MOUNTFORT: Webbased

    Karrina, from Webbased, manages our digital marketing. Webbased are a full service online optimisation agency, working with businesses to build an optimised presence online to gain visibility and generate enquiry online. They do this by first building a website that is fully Google optimised and then the implementation of ongoing services across digital marketing channels where customers are searching.

     

    DAVE SAUVAGE: Sauvage Design

    Dave Sauvage from Sauvage Design is the graphic designer for Downlights. We will continue to utilise Sauvage Design long term to be consistent with the standard of presentation he has given Downlights. Sauvage Design is a boutique graphic design consultancy established in 1995. Dave and his team in Grey Lynn, Auckland and are a creative, dedicated team who pride themselves on achieving creative and effective results for their clients. Their expertise cover all areas of visual communication from corporate identity and promotional literature to packaging and website design.

     

    HENWARD TAN: Socia_light NZ

    Socia_light NZ’s role is to assist the Downlights Instagram feed reach more and targeted audiences by utilising the algorithm efficiencies of the app. They enhance organic reach by capitalising on the app’s own algorithms.

     

     

    The MOXIE crew

    MOXIE stands for Meaningful Opportunities X-ing Into Employment.

     

    The MOXIE crew visits Downlights every Tuesday for a 4 hour work experience extraordinaire. A team of 4 learn new skills every week to help build their confidence, and their resumes in an effort to assist them on their journey to being a valuable member of the work force.

     

    Many of these individuals have potential to be long term employees of Downlights, which will open new spaces for new MOXIE crew to join. MOXIE currently has an extensive wait list of individuals looking for skill placements.

     

     

     

     

     

    Risks and Mitigation

    Increased production cost due to extra time required to assist - Purchase of the new Coogar Wax Melter will decrease manufacturing time by over 30%, increasing productivity and profit margins

     

    Small size of factory limits growth - Downlights is moving into a new premises on 1 April, 2020, with room for growth

     

    Cost of international courier fees for web-based sales - Downlights has a meeting booked with New Zealand Post to discuss improved international rates

     

    Insufficient staff - A successful capital raise will allow for the introduction of more employees to help manage growth

     

    Loss of Key Staff - Downlights have in place procedures for all aspects of manufacturing and dispatch to facilitate transition of a new employee or role change of an existing employee. These procedures include charts for: wick sizes, scent loads, temperatures etc. Packing protocols are sent in place for dispatching of web orders and retail orders with full instructions on how to use Go Sweet Spot (our courier). Additionally, Tony has been upskilled to manage all aspects of manufacturing and dispatch. In a worst case scenario, we can outsource manufacturing and request our team assist in the manufacturing process. Additionally, Google drive has been introduced to house all relevant material, including all marketing plans, box outlines, contacts etc.

     

    Economic Downturn - If a downturn were to occur in the economy, there are cost saving strategies in place to reduce expenditure to help ensure the company is operating at its best capacity. The introduction of the new wax melter significantly increases our margins and production speed, allowing for time to be allocated to diversifying income channels. We will keep a close eye on accounts to ensure we have all necessary measures in place.

     

    Crowded Market Place - Downlights’ points of difference make it a stand out in the existing market place. If it experiences any issues making a firm place in the current market, we will implement new products to diversify our range and

    stay relevant.

     

    Cashflow - The risk of not having enough cashflow to meet obligations - We are committed to reaching the targets we have set. Any late payments will be chased up, either in-house or by an outsourced agency. We have a strong relationship with ASB and will continue to work closely with them. We are also thrifty and will use existing capital wisely to ensure this is a minimal risk.


    Wax Shortage - The six-year relationship Illumina has with its wax supplier ensures that they store an excess of 10 pallets of wax for us to draw down on. This volume of wax is high in order to prevent any shortage of wax in anticipation of a large order or delay in shipping.

     

    Note from PledgeMe 

    We have completed a Veda check on the company and their Directors, as well as a Google check. There were no adverse findings.

     

     

     

    We’re really almost there!

    19/05/2020 at 10:05 PM

    We’ve had such a wave of support in the last few hours - going from almost 60% to almost 90% funded in the last few hours.

     

    We think we can make it - so we’re doing one more two-day push to give us a bit more time to make that final goal.


    Thanks to everyone who has promoted, shared, and pledged to this campaign.

     

    Cheers,

     

    Jenn and the Downlights crew

    We are over 76% funded!

    19/05/2020 at 7:55 PM

    Wow! Deadline magic is happening, and we want to thank everyone that has pledged so far. We're over 76% funded now, with a few hours to go. 

     

    We're going on another Live tonight at 9:30pm with Pat McFie from Manaaki, so the campaign will go until 10pm.

     

    Thanks in advance for any final sharing or pledging. We're almost there!

     

    Jenn and the Downlights Crew

    We’re almost there! Campaign closes at 9pm tonight.

    19/05/2020 at 1:36 PM

    We’re here! The final day (again) and so much closer to our goal. In the past few days, we’ve had 24 new people invest, and we’re almost 60% funded. We could make it, but we need some help.

    If you haven’t already invested, please consider doing so now. You have until 9pm tonight, Tuesday 19 May. And, please share this campaign - tell people what we do and why you support us. Here’s the link again: https://pledgeme.co.nz/investments/390-downlights-limited

    Things aren’t stopping here. Yesterday, Nicki (with Tony and Jennifer) were handed the front door keys to the brand new Downlights HQ. Nicki ran up the steps and is proud to be able to say she is the first one to officially enter our new home.

    Downlights HQ has enough room for social distancing and for all our boxes and supplies - no more candles blocking the TV or under Emma’s bed!

    The sad news is that while we are so excited about our new premises, not reaching our minimum means we cannot extend the Downlights team and employ more young adults with disabilities.

    We do what we do to provide opportunities and jobs for our young people. You’ve already met Nicki and Emma as part of our campaign, but over the past few days on Facebook we’ve been introducing everyone to our team, including:

     

    Taylor

    Taylor loves swimming, the band Oasis, looking after the horses at Ambury Park and going to drama classes. Taylor also loves learning new things and is thriving at Downights. She especially loved learning to make soy melts, and has the confidence to try and learn skills way outside her comfort zone because she knows that working at Downlights with Jenn (Who Taylor says she calls Joy Jenn, because she is always happy) is a safe environment without fear of failure. These new social skills, communication skills and self assurance has had a positive effect on her life outside of Downlights too.

    Taylor is SO proud to be able to tell people she has a proper job working at Downlights, something she never thought she would accomplish. She says: “I had a goal to learn how to use the EFTPOS machine and that was hard but I can do it now. I used to find pouring the candles hard, but now that I have a special prop to help me, I can pour much cleaner”.

    Taylor has always come to work with the brightest smile and she remembers the names of everybody she meets and this is such a wonderful part of her personality.

     

    Miles

    “I’m Miles. I like funky socks (I have socks with pickles, bacon, pizza, soldiers etc), I love old school video games and my two favorites are Spryo and Crashbandicoot. I have a grey cat, Josie the cat, and she is a lazy cat. I love American and Australian accents and I love Disney land in America. I like Emma, and Nicki, and Jennifer and Tony and Rick and the butterflies and all the people I work with and I like snack time”.

    Miles has thrived at Downlights and for his family this is another wonderful step towards his independence as an adult. His concentration has improved significantly, he likes the camaraderie and going to “work with Emma and Nicki” and work also gives Miles purpose and a meaningful and enjoyable work experience.

    “I have learned how to make candles really fast and I can pour really well without making a mess”.

     

    Kirsty

    Kirsty loves her phone, the band One Direction, she loves tennis and cycling. She loves Pretty Little Liars and Paige Mc Cullers is her favourite character. Kirsty also loves eggs, coffee and hokey pokey ice cream. For Kirsty, working with Downlights has grown her social skills, given purpose and goals to her week and provided her with a personal sense of achievement, something she never had previously. Kirsty LOVES candles. She loves making them and loves giving them to people. She is so proud of what she does.

    Kirsty likes and needs routine in her life so having a job which she understands and is constant gives her a sense of security and calm because she knows what is happening for that day. Kirsty is an introvert and is very happy in her own company, but Downlights gives her the opportunity to also sometimes interact with other people like Emma, Nick and Jack but with no pressure or expectation. As a result Kirsty has expanded her social skills and has even asked to become part of the Downlights stall team at markets! Yay Kirsty!

     

    Jack

    Jack joined Downlights as part of the Recreate Moxie programme and his work experience with us has extended Jack in ways we never expected.

    For Jack’s family it has been wonderful to see Jack exude a sense of self-worth and success because of his growth from Downlights. He has a supportive and enthusiastic team behind him which has meant Jack is engaged and not afraid of making mistakes like he usually is. Jack is constantly told he is amazing and capable and as a result mistakes are OK for Jack. Jack even knows he might be better at making candles than Tony and had also bravely learned to use the EFTPOS machines at the Downlights stalls at markets.

    Because of Downlights Jack has also decided to take a train and a bus by himself to get to work, something his mum Tracy says would never have happened if Jack wasn’t so proud and confident in his work.

     

    We’ll have one final Facebook Live tonight at 8:45pm to close out the campaign. If you’d like to watch, ask questions, or provide some feedback here’s the link: https://www.facebook.com/downlightsnz/live

     

    Thank you again for your support,

     

    Jenn

     

    Our sales are soaring - help us hit our equity crowdfunding goal!

    15/05/2020 at 12:56 PM

    We are in the final days of our extended campaign and we are just under half way to reaching our minimum target of $150,000.

    So far, one hundred and thirty supportive Kiwis have pledged to help us move into larger premises, purchase new manufacturing equipment and offer a living wage to the seven young adults with disabilities who comprise our manufacturing team. 

    While Downlights will be able to continue to operate regardless, without this capital Downlights will no longer be able to offer paid employment or expand to the scale we need to, to build on our good work.

    Covid-19 presented some unique challenges for Downlights, just like many other small businesses in New Zealand but especially given the timing of our campaign launch. BUT, the dedication of our management team helped us to strongly exceed our expectations outlined in the forecasts in our Information Memorandum. 

    In fact, our online sales for April 2020 were 92% higher than projections, and we have already generated 3x more online sales than we projected for May... and we're only halfway through the month! Our retail sales channels and contract manufacturing contracts have not slowed down at all.

    In short, we are reaching the targets we set out to achieve with ease. If we are going to achieve this goal, we need your help to cross the finish line

    I am reaching out to you to ask you to share this with as many people as you can. The phrase “six degrees of separation” is so relevant right now, as one of your six could be the person who helps change the lives of the young adults that we want to employ. 


    Thank you again for your support,

    Jenn and the Downlights crew

    Moving (and Extending) with the Changes

    05/05/2020 at 8:36 PM

    We’ve had such a wave of support over the last week - with a huge spike in both sales and pledges. Thank you to everyone that has come on board the PledgeMe campaign and made purchases in time for Mother’s Day. 

     

    Honestly, it’s been a hard time for us - as it has been for everyone! With all the changes, uncertainty, and our team spread across our homes. Our community has felt less able to invest, as they wait to see how the world changes in Level 3, and hopefully soon Level 2.

     

    We’ve also had a few larger investors discuss investing, but they’ve asked for a bit more time to make that decision. 

     

    At our request, PledgeMe will do one final extension to our campaign to give us (and our crowd) a bit more time to get us across the line. Our campaign will now close on 19 May at 9pm. Please email PledgeMe ([email protected]) or me if you have any questions. 

     

    With all the changes happening in the world, we believe we are needed now more than ever. We can keep going from Jenn’s home and with our small but perfectly formed team. But we want to grow - both our impact and our revenue. And we believe with $150,000 we can make that happen.

     

    Jenn and the Downlights crew

    So Close and Closing!

    05/05/2020 at 2:42 PM

    We are in the final countdown of our Pledge Me campaign – 6.5 hours to go before it officially closes. So if you have been thinking about pledging, now is the time to do it. And you can get yourself a sweet reward too – pledge just $300 and receive an ongoing 20% off all our products!

     

    Our website sales are still skyrocketing with over 1,000% week on week growth – AGAIN! And new retail orders are coming in. We’ve also seen some serious pledging activity happen over the past couple of days which makes us believe we can reach our minimum target of $150k tonight.

     

    So, please help us get over the line. Join us and pledge here: https://pledgeme.co.nz/investments/390-downlights-limited

     

    For those of you that have already pledged - thank you! Please help spread the word by sharing with your friends and family.

     

    We look forward to welcoming you all on board as new shareholders in Downlights!

    Jenn and the Downlights crew

    The Finish Line is in Sight!

    02/05/2020 at 3:07 PM

    We are so close! We can see it! The beautiful ribbon at the finish line that you get to burst through when you cross the line.  

     

    There are only a few days to go on our equity crowdfunding campaign and the momentum is picking up. Every carefully written post….. every prepared Facebook Live….. every personal email and phone call that has collectively helped us broaden our reach to potential investors. We are 1/3 of the way to our minimum goal despite the unprecedented economic and personal upheaval.

     

    But how? Why? 

    Downlights is not a typical ‘vanilla’ company (but we are beautifully fragranced). 

    We are a team of passionate believers; a group of quick thinking, intelligent lateral thinkers that believe every problem has a solution.

    But most importantly, at the core of Downlights there is a heart that is so pure, and this is thanks to our wonderful team and the ethos that we hold true and has seen the Downlights story to continue to gain support.   

     

    During one of the most unusual periods in global history we have sought to find new ways to succeed - and they are working! 

    The dramatic rise in web-based sales has been a true team effort with a 1,200% week over week increase in online revenue (yes, we triple checked!). Jennifer had packed hundreds of orders since we reopened our online business and we are ahead of the financial projections that were included in our Information Memorandum.

     

    So we need to say a huge thank you: 

    Thank you Karrina Mountfort, for the hours and dedication you continue to provide us through digital marketing and website management. 

    Thank you Dave Sauvage, for the incredible artwork you continue to produce even when under pressure. 

    Thank you Nikki Ross, for the stunning flat lay photography for our Mother’s Day product campaign.

    Thank you Henward Tan  for your continued support with our social media 

    Thank you to Webb Henderson, for your legal guidance with our capital raising

    Thank you Amanda Jordan for accepting the role alongside me as a Downlights director and for immediately sinking your teeth into the go-to-market planning, marketing and delivering meaningful messages to our followers every week. 

    Thank you Anna, Paula and to the entire PledgeMe team for your unwavering support. 

    Thank you to our Downlights Moxie Crew for supporting our Facebook Lives every week, for championing the Downlights business and for having faith in Downlights as your employment provider. 

    Last and most importantly, THANK YOU TO ALL OF YOU that have joined us on this journey by becoming an investor, or by sharing a post to help us find new investors and members of our Downlights team.

     

    To our pledgers, our new Downlights whanau who have already pledged: thank you again! Please keep sharing our story so we can reach our campaign goal. 

     

    Let’s make this happen, together.

     

    Jenn and the Downlights crew

    Mother's Day and New Minimum!

    28/04/2020 at 6:37 PM

    We are delighted with the response to our Mother's Day Mini range.The release of our NEW seasonal fragrance, Persian Rose, has been extremely well received across direct sales and wholesale channels. Jennifer has found herself surrounded by packages waiting to put smiles on the faces of mothers, aunts, step-mothers and mother figures all over New Zealand, Australia and the USA….as well as people buying these beautiful minis just for themselves.

     

     

    We are also very pleased with the performance of our existing and new sales channels. With the announcement that NZ will be moving to Level 3 and our marketing announcement that Downlights will be able to process and deliver orders we have seen a 156% week over week increase in online sales. 

     

    In addition to direct ecommerce sales we have had a very positive response from our existing retail base and new retailers who signed up at the recent trade fair in March. We have had retailers following up on their orders and are eagerly awaiting their arrival so they can highlight these products as soon as stores reopen. We are also in discussions with several businesses for contract manufacturing orders that are being planned for Christmas 2020.

     

    We’ve had some feedback from potential pledgers to our equity crowdfunding campaign, asking to make it more accessible. With that feedback, we’ve decided to lower our minimum investment amount to $NZ150. 

    What does this mean? The price per share will stay the same, but new pledgers will be able to invest from $150. If you have any questions, please let myself or PledgeMe know.

     

    So if you or anyone you know would be interested in a Mother's Day gift with twice the impact, please share our campaign and this update with them also: https://pledgeme.co.nz/investments/390-downlights-limited

     

    We need to hit our goal by our deadline for the funds to be processed, and then we can invest in growing our impact and production capacity.

     

    Please join us on this journey.

     

    Jenn and the Downlights Crew

    20% funded!

    17/04/2020 at 5:24 PM

    It has been three weeks since we launched our equity crowdfunding campaign and we have reached another milestone, raising over 20% of our minimum goal of $150,000 thanks to 43 wonderful investors! Thank you so much for supporting us.

     

    In the last week, our campaign has received a lot of local support in the form of posts and newsletters from organisations including the New Zealand Down Syndrome Association, UpsideDowns, and Akina. Thank you for every Facebook post, LinkedIn share and email forward - the more we broaden the awareness of our PledgeMe equity crowdfunding campaign the better!

     

    Jennifer was also featured in a Buy NZ Made interview this week which has been turned into a video and podcast and the New Zealand Down Syndrome Association has produced and released two videos on Emma and Nicki’s story and the Downlights NZ story. We hope you love them as much as we do. 

     

    With recent announcements, we hope NZ has turned a corner and sunnier Level 3 days are coming. Level 3 for us means we are able to process and ship e-commerce orders which is wonderful news! Just in time for Mother's Day…. And guess what…. we have the perfect gift just waiting to be sent out with new releases coming soon. Dispatch of orders will be managed by Jennifer from her home for the next few weeks until we are confident that the team can return to work safely.

     

    We all cannot wait to have our Downlights Crew back together and there are lots of stored up hugs ready to be delivered…. But don’t worry Miles, we promise ‘we cannot hug people until the all-clear is given’. For an explanation, check last night’s Facebook Live with the MOXIE crew at the 19m00s point to receive Mile’s advice about hugs.

     

    If we can find another 890 Kiwis who will each pledge $300, we will hit our maximum campaign goal. Can you help us find some of these people? Please share our story! 

     

    Thank you again,

     

    Jenn and the Downlights Crew

    On Our Way To The Halfway Mark!

    08/04/2020 at 1:28 PM

    It has been two weeks since we launched our equity crowdfunding campaign with PledgeMe and we hit our first milestone yesterday, reaching 10% of our minimum thanks to 23 wonderful investors!

     

    The timing of our launch was rather unusual and we acknowledge it has taken everyone time to settle into their “new normal”. As a result, we are extending our campaign by two weeks to maximise our opportunity to reach our ultimate goal of $300,000. 

     

    We are thrilled to have Grace Stratton from All is for All joining us for our Facebook live on Thursday 9th April (tomorrow) at 7pm, so click the link HERE to meet this powerhouse woman.

     

    Thank you again to all of our supporters and a special thank you to those who have already invested in Downlights. Please share our posts and our campaign page with your networks to help our story reach new investors, so we can reach our maximum target of $300,000. Here’s the link to our campaign page to share: https://pledgeme.co.nz/investments/390 Hitting our maximum means we can immediately employ six young adults with Down syndrome and intellectual or learning disabilities. 

     

    Downlights’s goal is to help make the world post-Covid an inclusive one. That includes you and we are thankful you are a part of our journey. 

     

    Cheers,

     

    Jenn and the Downlights Team

    Week One: Thank you for supporting!

    02/04/2020 at 11:10 AM

    Thank you for pledging and following our campaign. We certainly have launched during an unprecedented time and we hope you view this as a strong indication of our commitment and dedication to building a resilient business.  

     

    Numerous retailers from the recent trade show we attended have reached out to notify us that they still want their orders as soon as we are able to dispatch.  In addition, schools that had fundraising campaigns for Term One have moved to Term Two, so there is only a delay in our school fundraising efforts. We made a conscious decision weeks ago to pull out of all public markets for the safety of our staff and we will continue to monitor this after the ban is lifted. Consequently, we are pursuing new sales strategies in other channels and cost reductions to accommodate for any shortfalls in the projections.

     

    As the managing director, I firmly believe we will come out of this difficult time shining.  Now, more than ever, Kiwi’s are supporting locally made products. We have the added bonus of being a fwd: certified social enterprise (and we are receiving extensive support from Akina) as well as having a charitable trust component, which makes our brand even more attractive during times of turmoil.  

     

    In times like these, during great economic uncertainty, people from the disability community are often the first to be affected, the first to be left off the list, the first to experience the impact of crisis. Now, more than ever, we must band together and champion inclusion, diversity, and accessibility within business.

     

    If you missed it, we hosted a Facebook Live last week with our founders and directors. You can watch it here: https://www.facebook.com/downlightsnz/videos/238510403993809 

     

    We’re hosting a Facebook Live tonight at 8pm with me and Tony, Emma and Nicki Sykes (below) to hear the reason Downlights was started. You can see all of our Facebook Lives (including that one) here: https://www.facebook.com/downlightsnz/live/

     

     

    If you have any questions at all, I am more than happy to answer directly with an email or a phone call.  We hope you will take the next step and join us on this journey and become a valued investor in Downlights and a genuine contributor to social change. 

    Cheers,

    Jenn and the Downlights Team

    Our equity crowdfunding campaign for Downlights is live!

    23/03/2020 at 1:33 PM

    Kia ora,

    We’re live! Here’s the link to our campaign: https://pledgeme.co.nz/investments/390

    If you’re interested in investing in Downlights, please head over to our campaign page now (if you aren't on here already!)

    If you need some help investing, here are instructions on how to do that: https://guide.pledgeme.co.nz/how-to-invest. You can also email PledgeMe on [email protected] for support.

    And, please join us for our Facebook Live at 8pm tonight. Our team will be celebrating the birth of our campaign, and the birth of Jenn’s daughter :) You can join the party by clicking this link. Celebrate with us, ask any questions, and be a part of our crowd.

    Cheers,
    Jenn and the Downlights Crew

      Offer Details

      Current Valuation 825,000
      Raise Minimum 150,000
      Raise Maximum 300,000
      Share Price 0.75
      Maximum Shares Offered 400,000
      Explanation of valuation:

      Valuation of Downlights was undertaken by the company Directors with internal and external input. We have valued Downlights at $825,000 before the share offer is completed.
      • We have formulated medium and long term projections for the company, assuming the impact of the share offer on Downlights’ ability to manufacture and distribute more product as well as provide employment and training opportunities for young people with Down syndrome and intellectual or learning disabilities.
      • The methodology used to value Downlights from the projections was to capitalise the revenue and earnings (EBITDA) of the company at multiples the Directors considered reasonable, considering the multiples applied in recent equity crowdfundings thought most comparable to Downlights.

      Financial Summary

      Prev Year Current Year Est. FY 2022 Est. FY 2023
      Revenue NZ $32,169 NZ $192,200 NZ $428,200 NZ $469,300
      Operating Expenses NZ $21,729 NZ $142,500 NZ $263,400 NZ $269,700
      EBITDA -NZ $29,539 -NZ $14,400 NZ $61,600 NZ $94,700
      Net Profit -NZ $30,837 -NZ $17,100 NZ $52,000 NZ $82,500

      Company Details

      Company Name: Downlights Limited

      Company Number: 6843496

      Company details are currently being synced with the Companies Office, please wait.

      Company Documents

      Documents no longer available to download, as this campaign has closed

      Director Details

      Name Role Profile URL Invested?
      Jennifer Del Bel Founder and Director https://www.linkedin.com/in/jennifer-del-bel-08349578/
      Amanda Jordan Director https://www.linkedin.com/in/amanda-jordan-gallagher/

      Ask a Question (You must login to ask a question)


      Hi there, you guys are doing an awesome job congratulations!! I am the CLP for the Taranaki Down Syndrome Association and very interested to find out more in regards to the job opportunities working for down lights we have members that would love to be involved or is this based in Auckland only. Thanks Sandy

      Posted on 10-05-2020 by Sandra Slattery

      HI Sandra,
      Thank you for your very kind words. I have to stress, the purpose of the capital raising is to help us have the cash flow to be able to pay our young adults. Without success here, we will fall seriously short and will not be able to pay any of our existing staff. We need support: SHARE SHARE SHARE our story of our capital raising so we can reach the minimum target. Here is my email: [email protected] I am keen to discuss further with you via email.

      Answered on 11-05-2020 by Jennifer Del Bel

      Megan Mathie
      2020-04-07 17:34:16 +1200

      "I respect and admire your business, and the opportunity it provides for young people with disabilities. Best of luck!"

      Charlotte
      2020-04-07 13:54:24 +1200
      Margaret Jordan
      2020-04-07 13:24:34 +1200

      "Wishing you every success "

      Stefan Ivan Talaic
      2020-04-07 12:33:31 +1200

      "Love your work. Uncle Chris Jordan would be so so proud!!! Stefan, Sarah, Chloe and Fletcher Talaic "

      brett
      2020-04-06 20:59:18 +1200
      Zoe Campton
      2020-04-04 22:41:43 +1300
      Alana Murray
      2020-04-04 18:12:45 +1300
      michal
      2020-04-04 14:26:32 +1300
      Puleikiua Tasmania
      2020-03-29 01:44:20 +1300
      Natalie Scollay
      2020-03-28 15:27:24 +1300
      Robyne Cooper
      2020-03-27 16:01:03 +1300

      "Fabulous People, Employing Fabulous People To Make Fabulous Products - Whats Not To Love!"

      Paul Arraj
      2020-03-27 10:30:59 +1300
      Geoff Dalbeth
      2020-03-27 07:23:09 +1300

      "I love your candles and the concept. Well done."

      Liz HowePledgeMe Staff
      2020-03-26 20:44:57 +1300
      Dennis Marshall
      2020-03-26 18:27:05 +1300

      "Great cause - best of luck!"

      martin garrood
      2020-03-26 18:12:25 +1300

      "I am really pleased to be able to support such an excellent venture"

      Bevan Wallace
      2020-03-26 18:10:09 +1300
      Nathan Callaghan
      2020-03-26 17:31:59 +1300

      "This makes me happy"

      Robert Donaldson
      2020-03-26 16:52:11 +1300

      "I am delighted to be associated with this campaign."

      James Dixon
      2020-03-24 11:37:17 +1300
      Jennifer Del Bel
      2020-03-23 13:04:55 +1300

      "Love Mom and Bob."

      Paula NightingalePledgeMe Staff
      2020-03-23 12:27:32 +1300

      "Such a lovely campaign to support!"

      Anna GuentherPledgeMe Staff
      2020-03-23 12:09:40 +1300

      "Wahoo! So excited to be able to support this :)"

      This campaign was successful and got its funding on 21/05/2020 at 10:00 PM.

      This campaign has closed, but this company may choose to do more equity raises on PledgeMe in the future. If you're interested in investing in Downlights Limited, you can sign up to be notified when a new equity campaign from this company is published.

      Notify Me

      Investor Perks

      Investor Shares: $150 - $299

      NZ $150.00+

      These shares do not give the investor voting rights at shareholder meetings. However, to ensure core rights are protected, Investor shareholders receive the right to one vote when there is a resolution or proposal that will affect the rights to the Investor Shares, or put the company into liquidation for the disposal of the whole, or a material part, of the property, business and undertaking of Downlights Ltd. Non-voting shares will give the holders the right to an equal share in dividends and other distributions made by Downlights Ltd, and the right to an equal share in the distribution of assets of Downlights Ltd.

      Investor Shares

      NZ $300.00+

      These shares do not give the investor voting rights at shareholder meetings. However, to ensure core rights are protected, Investor shareholders receive the right to one vote when there is a resolution or proposal that will affect the rights to the Investor Shares, or put the company into liquidation for the disposal of the whole, or a material part, of the property, business and undertaking of Downlights Ltd. Non-voting shares will give the holders the right to an equal share in dividends and other distributions made by Downlights Ltd, and the right to an equal share in the distribution of assets of Downlights Ltd. Each shareholder will receive a life-long 20% off all products purchased on our website for the duration of their shareholding.

      Ordinary Shares

      NZ $25,000.50+

      The investor has voting shares and full voting rights plus a life-long 20% discount off all products purchased on our website for the duration of their shareholding.

      Warning statement about equity crowdfunding

      Equity crowdfunding is risky.

      Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

      You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

      New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

      The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

      Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.