Post on 15-Aug-2020
•
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