?? Tasty News 7/03/23

Happy 4th of July week. I hope you're taking some much needed rest and relaxation this week, I know I am. It's so tempting just to go-go-go, but giving yourself a break to connect with the important people in your life can also refuel you to come back more productive than ever.?I had a great convo with a friend and founder last week about what it takes to build a CPG brand. Here’s what we discussed:

To have a chance at building a successful CPG brand takes either:

?Time (8+ years)

??Money ($5 million+)

?+??Or ideally both.

Margins are relatively low.

Inventory and production thresholds are high.

Cash conversion cycles are long.

All this on top of having a great-tasting product that aligns with consumer macro trends.

No matter what, the road to success is often long, so pace yourself.

???This Week in #CPG

A roundup of CPG news that happened?last week brought to you by Amber Caro

??Whoa Dough?Dough launched their new allergen-friendly?ready-to-bake cookie dough! ( Todd Goldstein ) ???

??Wynn's Kitchen?is now available at?Weee!?( Wynn Austin )?

??KiZE?is exploding! They have had recent launches in?Costco Wholesale?(Oklahoma locations),?Foxtrot, and Baron's Market! ( Dillon Schooley ) ???

??Blind Tiger Spirit-Free Cocktails?is launching in?Sprouts Farmers Market?at 390+ locations! They have also just launched a brand new varietal - Lavender French 75! ( Rebecca A. Styn, Ph.D. )

??Daily Crunch?launched a new flavor launching this summer,?Dill Pickle Sprouted Almonds + Pepitas.??? This is a collaboration with?Cleveland Kitchen, where they are sourcing their pickle ends for this flavor. By using the ends, they are also now Upcycle Certified!?( Laurel Orley )

??Spritzal Cookie Company?is back on shelves in the cookie aisle at Roche Brothers (Taylor Elizabeth Walker) ???

??Walker Brothers?is now available at select Chicago-area Foxtrot stores! (Caroline Howard)

? Kokomio?launches organic coconut juices in?Sprouts Farmers Market?nationwide! ( Alan Cohen )

??Taos Bakes?is now on shelves in all?Sprouts Farmers Market?locations! (Drew Dickey)

??NoBaked Cookie Dough?is launching in?The Fresh Market?and?Kroger?next month!

? Moodify Food?is now available at?Lassens Natural Foods & Vitamins, LLC! (Christine Keller)

??Seed + Mill?launched their new squeeze bottle?Tahinis (Classic and Spicy!) this week. ( Rachel Simons ) ???

??Sanzo?is now available at all?Stop & Shop?locations ( Sandro Roco )

??OPUS Expertly Handcrafted Cocktails?are now in?Safeway! (Christos Kalaitzis) ???

??simplyFUEL, LLC?balls are now available at all LA and Hawaii?Costco Wholesale?locations! ???

JOYFUL CO. REDESIGN

CHATGPT ASSISTED CMO

1. Created a prompt explaining exactly what role I want ChatGPT?to do.Here's my exact Script
2. After ChatGPT responded confirming everything I then trained it on everything I could about my brand by copying and pasting all of our material into the chat including: a description of the products, mission, vision, values, product value proposition, target customers, and tone of voice.
3. Now the bot is all set up and will learn as you continue to interact with it. As a note, keep all interactions within the same chat flow.
4. Here are some of the things I asked it to do:
5. Create a landing page layout for our website that is designed for a high conversion rate.
6. Write 10 SEO optimized key benefits for why someone should buy a Joyful Co Gift box.
7. Describe the brand archetype for Joyful Co
8. Write 10 facebook ad headlines and sub-headlines to test in paid advertising. share in a table format
9. Create an email marketing strategy for Joyful Co., based on promoting the key gifting events throughout the year.

WEEKLY UPDATES

BANKING DESIGNED???FOR CPG BRANDS

If you’re looking for a banking partner designed for CPG brands, be sure to check out our partner Aion.

I’ve found that many early-stage founders are not quite ready for financing or still need to build history, so Aion has launched a sleek online banking solution to service Foodbevy members at every stage.

Aion Banking can be especially helpful for founders that are:

• Just getting started and looking to move from their personal banking to business banking
• Using a community bank and want to supplement it with digital banking for transactions they need to complete outside of business hours
• Anticipate needing capital in the near future and want to build history with a bank that provides flexible financing to CPG brands

But don’t just take my word for it! See what other food and beverage founders have to say:

“I’m extremely impressed with Aion’s convenience and ease of use. The platform is intuitive and works on any device, so I can stay on top of my finances wherever I am.”?- Arik Markus, Founder, Herb’n Pantry

Get started in minutes?for FREE.

You can apply for Aion Capital using the promo code?FOODBEVY?for a 10% discount on the interest rate.

LAUNCH ON AMAZON

As you know, I’m a huge fan of selling on Amazon, but a number of founders have shared that getting setup in the first place is a huge hassle. If this is you, then talk with Luke Tierney from Eco D2C.

I had a call with him and shared how many brands are struggling just to get started on the platform, so he created an awesome offer to get brands in our Foodbevy community up and running on Amazon for just $2000. Most agencies charge $5000+ for this.

E-mail me for an introduction: [email protected]

AFFORDABLE ACCOUNTING???FOR CPG BUSINESSES

If you're working with your family accountant to manage your CPG accounting, they may be making a TON of mistakes. Why? Inventory businesses are much different from others, and you need to find accountants who not only know Inventory Management, BUT also E-Commerce.

That's why you should check out Unloop. They specialize in accounting for modern CPG Brands and are super affordable, starting at just $299/month.

Learn More

MAXIMIZING RETAIL?E-COMMERCE

In today's omnichannel landscape, the convergence of online and offline channels has given rise to a new avenue for you to boost sales and expand your reach: retail e-commerce. Let’s explore how any brand, but particularly beverage, refrigerated, and frozen brands can leverage retail e-commerce tools to drive sales by integrating them into their digital marketing strategies.

Read More

STARTUP TO SCALE PODCAST

124. [Problem Solved] Reaching Profitability

On this episode, Aaron Gailmor and I discuss the challenge CPG brands have reaching profitability and specific steps Aaron did at Brass Roots to reach that point.

• Begin with profitability in mind
• Review your products and channels to find unprofitable product lines and cut them.
• Review your business structure, how you’re manufacturing and the SG&A

Listen on?Apple Podcasts?or?Spotify

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