FOFront of the Pack Financial Model
Health-tech Startup Financials (Free Excel Download)
Science-backed dog supplement brand targeting the preventive pet health market
professionals from Deloitte
Used by professionals from
About this model
Front of the Pack is a science-backed dog-supplement brand focused on preventive pet health. It sells physical products directly online, positioning supplements as an ongoing wellness routine rather than a one-off purchase.
Repeat purchase and auto-ship adoption are the main commercial opportunities. Customer value depends on product efficacy, palatability, reorder cadence, and the ability to acquire pet owners efficiently while expanding baskets across supplement SKUs and maintaining reliable fulfilment.
The model tracks new customers, subscription mix, order frequency, SKU margin, CAC, fulfilment, and churn. It separates one-time and auto-ship cohorts, then forecasts product and packaging COGS, marketing spend, inventory, customer support, working capital, cash burn, and runway.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Front of the Pack
frontofthepack.com
How to build a detailed financial model for Front of the Pack
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Front of the Pack model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Two SKUs shown:
- "The One" - all-in-one daily dog supplement
- "Move" - joint & mobility daily dog supplement
- Positioning: story-telling + science; "unconditional love, uncompromising science"
- Mission: lead the revolution on preventive pet health
- Core insight: most common vet diagnoses (obesity, arthritis, skin, dental, stress, GI) are preventable; existing market is reactive, misinformation-heavy, and underserved
Market
- Global pet treats + supplements market: ~$8.5b (Treats ~$8b, Supplements ~$1.5b)
- US portion of pet treats: ~$5b; EU: ~$2b
- US portion of pet supplements: ~$0.8b (estimated from chart proportion)
- Annual growth rate for US pet supplements: ~3.5%–5% CAGR (2015–2023, stabilising ~5%)
- US online pet supplement sales: ~$150m (2017) → ~$225m (2018) → ~$285m (2019); CAGR 32.2%
- Hemp-derived pet supplies: ~$10m (2017) → ~$125m (2022); CAGR 57%
- Pet share of hemp CBD sales grew from 9.4% (2017) to 19.3% (2022)
- Human supplement market (analogue / leading indicator): ~$30b (2016) growing to ~$55b (2024) at 7.5% CAGR
- Global dietary supplements market predicted to reach $278b by 2024 (Grand View Research)
Revenue model
- Products sold direct-to-consumer
- Channel: online / e-commerce
- No pricing, SKU cost, or order economics disclosed
Competition / moat
- Market framing: "the market leader spot is open" in pet supplements - implicit claim of no dominant branded player
- No named competitors
- Moat narrative: science-led formulation + emotional brand storytelling; comparison to human supplement market trajectory
Team & funding ask / use of funds
- Co-founders:
- Neil Hutchinson (CEO): serial entrepreneur; founded Forward3D ($65m exit); acquired uSwitch ($120m exit, later part of $3bn Zoopla Group / Silver Lake deal); co-founded Forward Partners VC and Kindness.org
- Chris Wilkinson (VP People & Ops): built leadership teams for NASDAQ/FTSE-listed startups; built team for Forward Partners, helped raise second fund from BlackRock (2017)
Recommended financial model
- Archetype + why: DTC subscription + one-time revenue model (similar to human supplement DTC brands - HelloFresh, Care/Of, etc.). The deck shows two physical SKUs sold direct, in a category with strong repeat-purchase / auto-ship conventions. Revenue = (new subscribers × monthly price) + (one-time buyers × AOV), with subscriber churn governing LTV.
- Forecast horizon & granularity: 3 years monthly (Y1–Y2 monthly, Y3 quarterly); subscription cohort tracking required from Month 1. Pre-revenue at deck date, so model starts with launch ramp.
- Key drivers & assumptions:
| Driver | Value |
|---|---|
| Launch date | Q1/Q2 2020 |
| SKUs | 2 (The One, Move) |
| Starting price per SKU / month | $40–$60 |
| New subscriber adds per month (Y1 avg) | 200–500 |
| % subscribers vs one-time buyers | 70% / 30% |
| Monthly churn rate | 8–12% |
| CAC (blended, paid + organic) | $60–$120 |
| COGS as % of revenue | 25–35% |
| Gross margin | 65–75% |
| Fulfilment / shipping cost | 8–12% of revenue |
| Contribution margin (post-fulfilment) | ~55–65% |
| Marketing spend as % of revenue | 40–60% (early) declining to 25–30% |
| Headcount (Y1) | 5–10 FTE |
| Online channel only | 100% |
| Online pet supplement market CAGR | 32.2% |
| Total addressable market (US supplements) | ~$0.8b |
- Scenarios (Base / Bull / Bear - which variables flex):
- Bull: CAC at low end ($60), churn 7%, subscriber growth 2× base; paid media scales efficiently
- Base: CAC $90, churn 10%, moderate organic growth; market-rate 32% online growth tailwind
- Bear: CAC $130+, churn 15%, competitive entrants raise paid media costs; slower subscriber ramp
- Required sheets / outputs:
- Assumptions dashboard (all inputs in one place)
- Subscriber cohort model (monthly new adds, churn waterfall, active subs by month)
- Revenue build (subscription MRR + one-time revenue by SKU)
- P&L - COGS, gross margin, fulfilment, contribution margin, S&M, G&A, EBITDA
- Cash flow & runway (burn rate, months of runway, break-even month)
- LTV / CAC summary (LTV by cohort, payback period)
- Scenario toggle (Base / Bull / Bear)
- KPI summary (MRR, active subs, churn %, CAC, LTV:CAC, gross margin)
Frequently asked
Is the Front of the Pack financial model free?+
Yes. The Front of the Pack model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Front of the Pack's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
Created by ex-finance professionals
Hey, I’m Alex and I created Finamodel.
Over my years in the finance industry I kept building the same models over and over again. Same structure, same assumptions, different logo. So I started building frameworks to turn them into clean, reusable templates.
Every model here is one I’d actually use for a client, and I personally vet each one before it goes up.
I’m not an expert in every industry, but I’ve built enough models to know what belongs in one. And when something is completely foreign to me, I reach out to my network for experts to work on our models with us.
Having a template library on hand cuts a first build from hours to minutes.
Need help finding your model? You’ll find me in the Finamodel app!
Other Health-tech Startup Financial Models
Browse another startup in the same category.
98point6
B2B SaaS platform licensing an AI-powered virtual care technology stack to health systems, pivoted from running a direct-to-employer virtual clinic.
A-Champs
IoT-powered gamified training device (ROXs PRO) for sports/health professionals, evolving into a B2C smart coach app for families.
AccuRx
Patient-centred communication platform connecting everyone involved in a patient's care, starting with near-universal penetration in UK GP practices.
Aeris
Swiss-made premium air purifiers sold through DTC, retail, and dealer channels, with a recurring filter consumable attached to a connected mobile app.
Akido Labs
Akido Labs is a data-driven prevention platform that integrates siloed healthcare, municipal, and non-profit data to enable proactive outreach and case management for vulnerable populations (homeless, chronically ill, etc.).
Alloy
Telehealth + DTC subscription platform delivering menopause hormonal treatment (MHT) and holistic care to U.S. women 40+.
Astek Diagnostics
Point-of-care diagnostic device (Jiddu system) that confirms bacterial infections and antibiotic sensitivity in ~1 hour across four body fluid types (urine, CSF, effluent, blood).
Atom Limbs
Atom Limbs is building the first AI-powered, neural-controlled prosthetic arm sold direct-to-consumer on a subscription model.
