75. Growing An 8-Figure Brain Food Brand w/ Will Nitze

Growing a food brand is no walk in the park, let alone growing one to $25m in sales.

But that’s exactly what Will Nitze - this week’s podcast guest - has done with food brand IQBAR in just 5 short years.

In this insightful episode, we talked through the entire journey, including:

• How he came up with the idea
• How he funded its growth through crowdfunding and rounds of investment
• What the research, development, and testing processes looked like
• How Amazon compares to other channels like DTC
• And so much more!

Will is a savvy operator and this is an episode not to be missed!

Episode Links

• Grab an IQBAR or ten
• Connect with Will on LinkedIn

Additional Resources

• Get our weekly Brand Builder Newsletter

Talking Points

• 00:00 - Introduction to Guest: Will Nitze
• 01:21 - Will's Entrepreneurial Journey and the Story Behind IQ Bar
• 07:42 - Exploring Brain Food: What It Is and Its Benefits
• 10:15 - Avoiding Hard Claims for Supplement Brands
• 12:36 - Creating IQ Bar's Unique Recipes
• 14:45 - Journey with Manufacturers
• 16:20 - Starting Number of Units: Initial Production Considerations
• 17:33 - Launching with Kickstarter: Funding the Business
• 20:05 - Revenue Targets and Channels
• 22:24 - Dealing with Copycat Players: Navigating Competition
• 26:30 - Omnichannel Business Model
• 30:23 - Cash Flow Challenges: Scaling Up and Managing Finances
• 33:10 - Financing Routes: Options for Funding Growth
• 34:27 - Beyond Cash Flow: Addressing Other Scaling Challenges
• 37:10 - Managing Shareholder Pressure
• 38:20 - Will's Workweek Insights
• 39:43 - What's Next for IQ Bar? Future Plans and Innovations
• 42:39 - Discover More about Will: Where to Find Additional Information