Dunedin Manufacturing Holdings four board members met yesterday, ahead of a crowdfunding launch on November 13. They were also scouting potential sites for a factory.
Own The Factory will launch its new crowdfunding campaign on November 13, aiming to raise $2 million to expand the operations of Ocho (The Otago Chocolate Company).
The three Dunedin members are: Jim O’Malley, Stewart Cowan and Vito Iannece. The fourth member is Tami Louisson, of Wellington.
Speaking yesterday, Mr O’Malley said it was the first time the board had managed to all get together in one place and go over the business plan for the expansion.
"We have been going over the businesses plan this morning and part of what we are doing is scoping out some buildings here in the Steamer Basin."
The company would definitely be based on the waterfront, he said.
Mrs Louisson said establishing a business and factory on the waterfront was a dream which could come true.
"It’s good long-term planning and a long-term view of things about where we are going with the manufacturing and the public access side of things."
Each board member brought a different perspective to the table, which was important for the business to succeed, she said.
Ocho founder Liz Rowe said it was a good feeling to have the board in place and be able to talk to each of them.
"Jim and I and Nicola McConnell, our brand marketing ambassador, we’ve been on the team with the others and developing ideas for the last four months."
"We’ve all been thinking about and talking about it... Monday week we’re going to launch the crowdfunding, so it’s all coming together."
Based on the previous campaign, when nearly $6 million was pledged to buy the closing Cadbury factory, Mr O’Malley was confident they would be able to raise the $2 million needed this time.
"All we need is a 30 percent conversion rate from the old campaign and we will reach the $2 million we are legally allowed to raise, so we are very confident."
The group hoped to order equipment from Italy by Christmas and the first chocolate would be made in the new factory by July.
