Nantucket Nectars' "Juice Guys" Bottle Formula for Success With Quality Ingredients The island of Nantucket is known for its entrepreneurial spirit. Tom Scott and Tom First caught that fever nine years ago when they started peddling Nantucket Nectars in the island's harbor. Now the self-proclaimed "juice guys" hold the number-two spot in the New Age beverage market. To say the juice guys started their company, Nantucket Nectars, on a shoestring budget would be an understatement. The two Toms built a multi-million dollar company with an initial investment limited to a $170 bottle-cap hand press, recycled bottles and an assortment of fruit. They had no formal business training and conducted no market research. Their business was born …show more content…
They're motto: 'Ain't nothing them boys won't do.' The young business owners shampooed their share of dogs and cleaned a good number of boats to keep their dream alive. More than alive, Allserve would thrive and expand to include two more boats in its fleet that summer. When the busy season ended, it was time for the boys to return to Brown and complete their education. Little did they know they were on the brink of discovering a multi-million dollar business with only a strong entrepreneurial spirit, a modest amount of money and a recipe for success. They could not know it then, but Allserve would lead them to the first channel of distribution for their future juice business. After graduating college, the two returned to the island of Nantucket to pick up where they left off with Allserve. But they knew once the season ended, the winter months would be challenging at best. "We were looking for ways to make our business year-round, and we were involved in a lot of different things. We were involved in the scallop industry, storing boats in the winter, servicing engines. We even distributed bread," explains First. Only a brave few people dared to endure the slow winter months on the island, but those who did had to stick together. Cook-offs were common on many nights, where Nantucket natives gathered to show off their culinary skills. First would bring the juice. This was not just any juice, but a special
By 1955 they had a fleet of 100 delivery trucks. They were growing fast and organized their operations as ‘Grupo Industrial Bimbo’ in 1965. They were exporting their breads, crackers, cookies and other baked goods to South America, Portugal, and Spain. But the principals at Grupo Bimbo saw the untapped potential of the huge consumer market in their neighbors to the north, the United States (Thain, 2015).
With an increase in business, the firm recruited widely. The firm, which had employed 2,000 people in 1982, tripled to 6,000 people by 1987.” Due to excessive focus on generating revenues, one insider put it as, “competing fiefdoms replaced interconnected businesses.” and “Making money was mostly what mattered.”
Joe emerged his business by perusing his desire to run a business on his own. Together Joe and Larry took the risk and began Bannes-Shaughnessy Inc. in 1972 (Katz, 2011). Despite their prior experience and low amount of capital they began with, within five years they had received their first million dollar contract, proving their existence. From here on out their firm grew, so did their success, and in turn were helping the community. Joe was compassionate and his work and business reflected that. Their families were benefiting from their success as well as their own lives. They were perusing their dreams, and once Joe became the sole owner, he was able to take the business to the next level. It is as if he was beginning the growth stage again within his own company, he could now continue on focusing on the expansion and diversification of his
D’rita Robinson, Founder of Chatty Guest. First in family to go to college. Pursing a couple of career paths decided to embark. Ashlie Davis, Founder of Smash Shoes. Looked for ways to solve problems. Problem solving knack became my motivation to start Smash Shoes. Reginald F. Lewis was considered the richest African-American man’s in the 1980’s. Lewis went to Harvard Law School and he graduate from there to. Some potential cause include the growing power of entrenched and larger companies,slowing population growth, and more recently, the financial crisis, which wiped out hundreds of thousands of businesses. That’s bad new for anyone who understands that entrepreneurship, with its power to create jobs, has profound effects on the economy. Small business provides about half of all private sector jobs in the U.S. , per the Small Business Administration. The Kauffman Foundation's 2015 startup index shows dramatic changes in the composition of new entrepreneurship since 1996-new business owners are now 40% Asian,Black and Latino, compared to 23% two decades ago. It turns out to be African American Entrepreneurs are more likely to be “necessity-based”
Thus the company would began to bounce around with different manufacturers some from Japan and others from North and South America. During this time the company was growing exponentially, the company would make its first million. It would reach its mile stone of hiring more than six employees. But all of the luck and skill came crashing down when they out grew their bank. The company could no longer get loans to import its shoes. This was due to the nature of a fast growing start-up. All of the money that is being made is being pumped back into the business to keep up with demands. Therefore the business lacked equity that banks would use as collateral if Nike failed to pay back one of its million dollar
The enterprising individual started a multi-million dollar business based off of a child hood dream.
I would like to open a juice shop , from the morning time from 7am - 4pm for those people who are looking for a fresh juice with a break fast
First, the strengths are that the overall design, “the creation of the smoothie and juice names, and distribution, was done with multiple stores as the goal.” (Pg. 2) This business model differentiates them from the competition because instead of offering the same flavors, juice names, design, and distribution to all of the locations it is determined by a section of stores rather than the entire market. This tactic allows their business model to be targeted for a specific demographic depending on the external environment.
a) Modern organization structure would work best for Island Abbey Foods as it would create a flat, fluid, integrated and global organization. Delayering of organization as defined by Karakowsky and Guriel (2015) is “Flattening organizational hierarchies so that they have a wider span of control” (page 120). Island Abbey Foods does not need to have a lot of organizational hierarchies as it would bring greater employee costs with having minimum or zero returns, there are only 25 employees employed. As it was mentioned by Atlantic Canada Opportunities Agency (2010) “Today, with their 25 full time and part time staff, Island Abbey is distributing diverse product line to over 80 countries around the world…” (par.10). Island Abbey Foods has
In the following analysis, we will first identify the key issues that Sunshine needs to tackle. We will then evaluate the current market conditions of the manufactured juice industry, Sunshine, and its competitors. To find a suitable market match for Sunshine, we will look into the behavior and characteristics of orange juice consumers. Afterwards, we
End users are those individuals walking in the company stores, ordering a smoothie and a cookie, paying the cashier and then telling her friend how wonderful the ambiance is. This buyer segment does not purchase large amounts of product at one time and likely chooses Jamba because of the quality of the ingredients. With no switching costs and a growing industry offering many options, patrons of smoothie cafés can freely purchase their delightful cool beverage anywhere. According to the U.S. Census Bureau the number of stores within the “snack and nonalcoholic beverage bars” industry grew from 36,036 in 2002 to 49,463 in 2007 [ (U.S. Census Bureau) ]. This trend means that Jamba Juice will have to increase customer loyalty to battle the increased competition.
Q1:From a social responsibility standpoint, if the owners of Nantucket Nectars were to sell their company, they would have an obligation to the current employees. One thing they would need to do, is inform the employees about the deal, in a timely manner, this way current employees would be able to find another job if necessary.
Jamba Juice is a smoothie retailer in the United States in the restaurant industry. Jamba Juice offers 100% fruit smoothie and juice with healthy snacks. This paper will explain the strategic issues faced by Jamba Juice, and the strategy used to be successful. Jamba Juice has maintained financial discipline, cost management, and improvements that are the reason sales are increasing. Jamba Juice strives to follow their mission and vision statement, and markets aggressively. Over the next five years, the market for smoothies is expected to increase by 10-15%. (Brixler, Brian) Consumers are seeking healthier food and beverage options for a meal. Smoothies offer a healthy option instead of drinking soda.
To create a dream, a business owner has to have an idea and no better place for that idea to be built upon such as a husband and wife’s kitchen table. This was the location for the initial business that would be known as Cabela’s. So how did this kitchen table base business turn into a multi-billion dollars’ outdoor recreational empire?
Starting a business has its already difficult nature to it, however, starting a business with two dollars as a maximum start up reveals another challenging aspect. As a small business owner, you must make very professional and thorough decisions for a successful product market fit. As my partner Olivia Daechsel and I bonded over the idea to sell hot chocolate, we never understood the difficulties nor the minor mistakes made that can easily set back a company. Although this venture would be considered a success as we made profit, there were minor improvements during our initial planning that are necessary to correct if we were to expand our company.