"Having no money was an advantage": the founder who took Free Soul from £15,000 to £55m

Instead of traditional fundraising to build his business, Arjun Sofat fitted kitchens. The former Barclays Investment Bank analyst and his mother, Free Soul's co-founder, Rohini Sofat, had burnt through £15,000 cash during recipe-honing and development of their first vegan protein supplement.So they set up a renovation business, fitting kitchens and installing cupboards until they had enough cash to buy their first pallet of stock. Today, the Sofats' supplements business is bringing in £55 million annual turnover, employs 50 people, and sits on the shelves of Boots, Holland & Barrett, Tesco and Sainsbury's.

Inspiration had come from Rohini’s health issue: under extreme stress due to her husband’s illness, she tried to cope via a heavy exercise regime, cramming in Barry's Bootcamp classes but feeling "awful". She tried supplements, “but the industry seemed obsessed with helping women get smaller. We thought the conversation should be about helping women feel stronger,” Arjun Sofat says. He was then working at Barclays on consumer health M&A, “and I realised I was spending my days analysing billion-pound businesses while thinking far more about solving this problem. So, I left banking to start Free Soul with my mum.”

Their research was far from polished. They cold-called nutritionists and quizzed them on ingredients, and taught themselves web design and Amazon listings via what Sofat calls “YouTube University” - pausing tutorials and building their own version alongside the videos.

After launching in 2017, the duo would rise at 4am to hit the promo circuit, driving around London gyms to hand out samples to exercisers (Sofat once spotted Harry Styles on the dumbbells and went over to tell him about the brand). Online, the entrepreneur ran the brand’s social media accounts “and somehow grew them to 13,000 followers. When you don’t have a marketing budget, you have to replace money with energy. You say yes to everything, you meet everyone and do lots of things that don’t scale.”

Growth was gradual, with Free Soul funded by £15,000 of Sofat’s IB salary savings and reinvested sales. “Having no money was probably an advantage,” he says. “It forced us to stay close to our customers.” A viral moment on TikTok Shop sped sales up: products now include protein and electrolyte powders, hair and skin gummies, and an array of other supplements which helped turnover exceed £35 million last year, with a £5.5 million pre-tax profit. Sofat remains wary of rivals, but says while big companies can copy a product easily, they cannot ape "years of customer relationships and the culture behind a brand".

The next target is a £100 million business - which Sofat believes is buildable while staying in the UK. “Everyone asks if we’re going international, but I actually think founders can become distracted by expansion. We still see an enormous opportunity in the UK.”