Hamilton business: Muscle Fuel (parent company Ready to Eat), has been named the thirteenth fastest growing company in the Deloitte Fast 50 Index.
The company, which has achieved a growth rate of 457%, produces premade meals delivered NZ-wide. 35-year-old CEO Hamish Coulter (picoted) says he is thrilled to be a Hamilton company competing on the national business stage and says innovation has been a crucial part of the company’s success.
The company, which launched in 2013, has accelerated significantly over the last five and a half years. Initially targeting a niche athlete market, Muscle Fuel has grown to service a range of people from the active to those simply seeking convenience and health. Coulter says his role as CEO has changed as a result of the company’s evolution.
“With budget constraints as a scrappy start-up, you have to have your hands across basically every part of the business whether it’s part of your core skillset or not. As the business matured, we were able to attract and hire more skilled staff to add value in areas that could be improved.”
“I used to spend 90% of my time on operational duties and 10% strategic, now it’s 90% strategic and 10% operational.”
The food delivery has exploded in the last few years with a number of competitors vying for the convenience dollar. On whether he expects the company’s growth to continue at the current pace, Coulter is optimistic.
“Our industry segment, fresh pre-made meal’s, is very new to NZ market. Based on what we have seen overseas it has huge potential for growth.”
“We built huge capacity into our new production facility, so we can continue to handle this trajectory. Judging from the results we have already had this year to date we will be back into the Deloitte Fast 50 list again next year,” says Coulter.