The Cornish pasty has been a staple diet of the Cornish for hundreds of years. No one is 100% certain of the origin of the Cornish Pasty but it is widely understood that it was the main diet of the Tin Miners who held on to the crimped edge whilst eating to avoid getting poisoned by the arsenic on their hands. In recent times the Cornish pasty has gone from strength to strength with one time Cornish flavour becoming a national delight. A number of companies in Cornwall have now set up outlets around the UK with huge success. One such company going from village shop to £12 million turnover. Traditional Cornish Pasties can now be purchased in most towns in the UK.

We aim to bring this concept to Australia and set up the first nationwide Cornish Pasty company setting up outlets around Australia selling the Traditional Cornish Pasty based on a traditional recipe.

This is a proven concept in the UK and, with the popularity of the 'PIE' in Australia, we believe that the Cornish Pasty will be a huge success as a lunch time meal, offering more value and a larger product than the humble pie.

In the Australian market we feel the closest comparison is Jesters Pies. As the Pasty is made in a factory by hand and then frozen it can easily be transported to retail outlets anywhere in Australia and then cooked on the premises as a fresh meal. As well as the branded retail outlets we also wish to develop a significant B2B market such as other bakeries, cafes, entertainment venues such as stadiums and mobile vans that can go to shows such as the Easter Show for example.

As well as the traditional Cornish Pasty we will develop a series of other fillings such as, Cheese Pasty, Cheese and Onion Pasty, Vegetable Pasty, Spicy Vegetable Pasty, Spinach & Ricotta Pasty, Beef & Stilton Pasty, Beef Madras Pasty, Steak & Onion Pasty, Steak and Ale Pasty and Lamb and Mint Pasty for example.

The model will be based on the successful UK model. The proof of the profitability of the business opportunity is that in October 2007 Gresham Private Equity (UK) bought the West Cornwall Pasty Company for £40m ($80m). The West Cornwall Pastry Company had 35 outlets at the time.

The investment opportunity would deliver at least a 25% return year on year with a 5 year buyout plan. The investment would be split into 2 parts, with a smaller initial investment requirement of $370,000 to get the company running and set up 3 shops to achieve a healthy profit with a 2nd round of funding in year 2 to enable significant growth.