how we got started… · sales & marketing . sales & marketing •hire problem solvers...

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How we got started…

Late 2009

Mid 2010

• Made bars in local gluten-free bakery

• 1000 to 5000 bars per run

Early Days…

• Website

• Chicago Stores

– Cafes

– Gyms

– Small Stores

• Initial contact with

larger prospects

Initial Sales: Mid 2011

• First Grand Rapids Facility: January 2012

(Still) Early Days…

It seemed like a good idea at the time…

(Still) Early Days…

(Still) Early Days…

(Still) Early Days…

(Still) Early Days…

• Product in ~ 350 stores, including Meijer

• Production and packaging by hand

• Biggest challenges

– High per unit production costs

– Financial limitations

– Prioritization of customer targets

– Sales velocity at current customers

• Introduce first version of Bites

Snapshot: Mid 2012

First Real Trade Shows

• Product in 600-700 stores

• Entry into Whole Foods

• Installed new packaging equipment

• Working to secure bank financing

Snapshot: Mid 2013

Introduce Bites…again

• Product in ~2000 stores

• Commitment from major east coast account

• Move to larger facility October 2014

• Planning Canadian launch for January 2015

Snapshot: Mid 2014

•

Emerging National Brand

• Strong retail location growth to over 6000 stores in the US and Canada

• Company average annual growth rate of 311%

Why

How

What

Why, How, What…

• Diagnosed with Celiac disease in 2008

• Gluten-free products not widely available

– 2009 estimated growth rate of GF market was

18% (Nutrition Business Journal)

– The total “nutrition” bar segment was valued

$2.2B in 2009, now valued at over $5.5B,

expected to reach $6.2B in 2018 (food

navigator/Mintel)

• Really, we just wanted a great tasting high

protein bar made from simple ingredients.

Why …

• Early Philosophy

– Be Simple

– Be Different

– Do More with Less

How…

• Go where they ain’t…

• Products: Launch, Listen, Refine

– Vegan

– Soy-Free

– Non-GMO

– Bites vs. Bars

• Owning our production

How…

“Sometimes you make the right decision,

sometimes you make the decision right”

What We Learned..

Manufacturing

Typical View: Food Industry Value Chain

R&D Manufacturing Sales

• Consumer Research • Product Development • Packaging

• Manufacturing • Distribution • Vendor Management

• Marketing • Promotion & Advertising • Sales

• Value & Differentiation • Cost • Risk • Resource Intensive • Distraction

• Value & Differentiation

• Can we create value in manufacturing to

differentiate The GFB from competition?

• The GFB Team Video

• Team, Culture, Community

Value of Manufacturing

• Consumer Preferences

– Transparency

– Honesty

• Supply Chain & Operational

– Quality

– Responsiveness & Inventory Management

– R&D / Product Portfolio

– Cash Flow Benefits

Value of Manufacturing

• Create success stories to drive future growth

opportunities

• Focus on key segments & targets

• Evolve sales process along with the

company

• Listen to feedback…but only sometimes

• Know how to manage “new, but not too new”

Sales & Marketing

Sales & Marketing

• Hire Problem Solvers

– Initially you need generalists, later you need

specialists

• Be Creative

– Cash is always the easiest solution

• Create process, but don’t ignore how you

got started

• Cash Flow Management

Operational

• Vision: The recognized source for great

tasting, gluten-free protein snacks

• Goal oriented, but all about execution

– Team Members

– Community

– The GFB Brand Values

Future Goals

theglutenfreebar

@thegfb

@thegfb

@thegfb

Questions?

theglutenfreebar.com