👋 Founder Foodbevy.com and Joyful Co. | Forbes 30 Under 30 | I help food and beverage founders grow from Startup To Scale. I help people and companies spread joy by sending meaningful gifts featuring minority founders.
This market is hard for everyone. Just today we found out that Foxtrot and Dom's Kitchen & Market are closing down suddenly, and I heard from 3 CPG founders who are shutting down their businesses. So what do you do? Go buy from the small emerging brands you love. Your purchase can make the difference between them growing or going out of business. If you're a founder, focus on what's making you money. Stay laser focused on the things that drive your business forward and give yourself permission to say "no" to any shiny objects. Rarely do those one-off opportunities make the difference to your business being successful. Reach out to your founder friends to see how they're doing. They may need more support than you know. #CPG #foodandbeverage #foxtrot #doms https://lnkd.in/gTNEZMkx
As a micro business owner, I would love for more people to purchase through my website. Supporting small businesses is so important, that’s how we grow. We don’t all have investors.
Capital is gone for companies without positive ebidta
I still love the FoxTrot concept; 7-11 meets Erewhon. Someone will figure it out.
This is global. The restaurant business model is broken. It's the commercial rents that are killing everything right now. Wenu is looking to be that low cost option to start run and grow. $29/Mon beats a couple hundred grand reno that takes months, and a 5 year lease at $6000/mon.
It would be interesting to understand the reasons for the 3 founders needing to shut down. That analysis would be very beneficial for other owners facing the same challenges. Based on the big buckets and issues, it would seem to be manufacturing cost increases (with an inability to raise price), lack of turns / volume, too many resources and / or trade promotion spending / lack of analysis. What other areas could there be?
Buy Local, Buy Family Owned! Keep those dollars in your neighbors hands not banks or private equity!
That's such awful news for so many of those stocked there. I 100% agree, keeping control of your margins and profits is everything in a business. Never chase turnover!
I am sorry to hear of this. However if there is anyone who I looking for opportunities to have a great premium coffee store inbox me for more information.
Thanks for this post. The food biz is brutal. Small businesses beware. What appears to be an opportunity can actually be your downfall.
Co-Founder/ Chief Growth Officer at Something Sweet Dough
4moWe just launched into all stores recently🥹this is crazy