Summary
Interest in the nutritional products from several professional athlete partners instigated a comprehensive industry research project. Research revealed a number of market opportunities in the children and teen supplement space, which included 1) significant market fragmentation – leading brand holding 6% market share and 48 other products with 2% or lower market share with a lack of product offering in the ages 8 – 18 sub-category. Moreover, most products contained objectively unhealthy ingredients in a product category that was “focused” on promoting nutritional value. Ingredients included corn syrup, gelatin, preservatives, and artificial coloring.
Challenge
Formulate and manufacture a healthier productt as a foundation for building a brand and message focused on active young people ages 8 – 18. Starting with a team of seven world-class athlete / brand ambassadors who were also owners of the company. Athlete representation was diverse in age, gender, ethnicity, and sport. Leveraging strategic partnerships in manufacturing, sales brokerage, and athlete-supported partnerships; the company launched with a lean operating infrastructure and low capital investment.
Outcome
Established a clean product free of corn syrup, gelatin, dairy, gluten and artificial flavors, the founding team retained over 80% equity position at Company launch. Remaining equity was used to engage and incentivize athlete-ambassadors. Furthermore, targeted research, planning and strategy resulted in a successful launch into the world’s most recognizable healthy grocery chain. Products were in over 3,000 retail stores across the United States within the first 18 months of operation.