A Foundation for Growth
The 2020 Impact Pitch competition propelled Recipe 33 to new heights for owner Dan Smith. The $10,000 prize is "money you need when trying to bootstrap," he reflects now in 2021. The competition focus and pitch requirement work also brought validation with his investors. "The competition helped me project out scale. My investors really liked the model. It was simple, detailed, and had the key indicators they were looking for. Well, I mean, they liked it. They invested."
The competition win with Business Impact NW was one of many. The Trailmix competition in Boise, Idaho propelled Recipe 33's mess-free flavor-infused nuts into Albertsons. This added to an established presence in Whole Foods, PCC, and Metropolitan Market.
Recipe 33 was built on a solid foundation. Dan had already surrounded himself with advisors, had industry experience, and graduate-level schooling. But he needed help to flesh out his financial models, from food scientists to scale up his small-batch recipe, and many other people along the way. Joining pitch competitions was a natural part of that search for support.
The largest need that Dan identified through the Impact Pitch competition was his economy of scale. His investors provided the solution. Their investment allows him with the ability to source more products in bulk. "I used to have to only buy 1 month's worth of goods. Now I can get packaging and almonds at a much lower percentage cost." As a result, profits have increased to a sustainable level.
And this scaling has incredible results. Recipe 33 has been featured by USA Today as one of "10 healthy and tasty snacks to pack for your next flight." Delta Airlines is featuring Recipe 33 almonds in their available-for-purchase snacks. And his Pacific Northwest focus is expanding into western California.
Recipe 33 for Success
Dan attributes his company's growth to "putting [himself] out there." "These competitions have forced me to focus, lock in on my core customer and core flavors." Networking at pitch competitions has put him in the "right place at the right time," he says. There, he's built relationships with brokers and retailers. He even continues his original guerilla marketing. "I'm doing demos in stores again," he shares with enthusiasm.
At this time of year in 2020, Recipe 33 almonds were in 165 retailers. Now, one year later, they're in 225 and growing. In addition, 20% of sales come directly from their online e-commerce site. This is thanks to positive reviews, word of mouth, and social media. Learn more about Recipe 33, and look for them on the shelves of your local grocery today.