This founder went from waiting tables to selling his company for $281 million: It 'blew my mind'

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Entrepreneurship Nouvelles

Hormel Foods Corp,Video First

Justin Gold got his homemade nut butters into Whole Foods, but still couldn't turn a profit — until a mountain biking ride helped put Justin's on the map.

In 2006, Justin Gold was mountain biking when something struck him that changed his life: a business idea that helped make his nut butter brand, Justin's, a household name.

But at the time, consumers still gravitated toward a handful of traditional peanut butter brands. Almond butter wasn't particularly popular yet, much less the flavor combinations Justin's was selling, like maple almond or chocolate hazelnut. Gold made nut butters for himself in a food processor, experimenting with different types of nuts and flavors like cinnamon and honey, after graduating from college in 2000.

The portable products helped pull in new customers. "For the consumer who never tried almond butter before, they could try it for 99 cents," Gold told Entrepreneur. "And then they would come back and buy a $10 jar. They ended up spending more money."from angel investors to expand nationally and develop additional products. After two years, Justin's launched its now-popular chocolate nut butter cups.

 

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