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The Amazon platform provides a means for small and emerging brands to find an audience and generate sales if they dedicate time and resources to ensure discoverability on the platform by constantly optimizing product pages with the right keywords and features once the user is on the page, in addition to paying for keyword-based advertising.
Grocery stores have introduced their own branded “private label” products on their shelves, offering an opportunity for food producers to increase cash flow, maximize production efficiency and diversify revenue streams without having to do all of the brand building and customer relationship management themselves.
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TRIBALÍ’s clean, simple packaging communicates their organic, grass-fed and Paleo certifications, stands out on the freezer shelf and helps communicate their brand’s promise to that tribe. Angela Mavridis, TRIBALÍ’s founder and CEO reflects that the investor pitch process forces you to learn every single aspect of the business.
Good brand building is built on an understanding of your target customer and what problems you are solving for them. While it is not the only thing that is needed to build a successful business, those consumer relationships are the lifeblood of all food businesses.
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Union Kitchen is a shared-use kitchen and food business accelerator in in Washington D.C. While having a shared-use kitchen eliminates the need for capital for kitchen equipment, there are many other things food businesses need to raise capital for, which is why they have distribution and retail outlets as part of their model.
Food businesses should know the role that online sales will play in their revenue stream and in their business model. Consumers are starting to become omnichannel in their food shopping expectations. Like most things in food entrepreneurship, it is best to let your customers lead the way, and if they expect to find you online, go online and conquer.
Food consumers have been seeking more “premium” experiences from the food they purchase, including better connections with their food and understanding where it comes from. Developing brands for agricultural products can help farmers produce products that earn them a premium and are meeting a real consumer demand.
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Seal The Seasons began production in one of the partitions of a shared-use commissary kitchen facility where they installed an Individually Quick Frozen (IQF) production freezer, later partnering with a co-packer in 2017 and almost doubled their gross margin contributions as a result, passing more money to their farmer suppliers.
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Top Note has pivoted away from syrups towards niche ready-to-drink, already mixed sparkling tonics, using their foray into syrups to further understand the mixer category and build their brand. Mary reflected that having a good bank as a partner is important and that learning about money has been the most useful thing that she has picked up as an entrepreneur.
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MobCraft beer is a brewery and taproom with a unique business model of crowdsourcing ideas for beer recipes from their customers. Knowing how much equity they needed vs. debt to finance their facility build out and equipment needs helped them pitch specific asks to both banks and investors, including for their $2 million tap room and production facility.