What Other Food Startups Can Learn from the Rise of Beyond Meat
For the uninformed, Beyond Meat is the pioneer of plant-based burgers to be sold in grocery stores and the company has experienced an exponential rise in popularity and success, with the stock valuation going up six times compared to it’s IPO on the stock exchange.
The food industry trends have evolved extremely rapidly in recent years with people opting for healthier, plant-based diets with an increased emphasis on environmental sustainability.
With the rise of dietary lifestyle changes such as vegan, gluten-free, sugar-free, non-diary diets, etc. the industry is ripe for creativity from food producers to come up with the latest and greatest offerings to keep up with the forever-evolving culinary trends.
With backing from high profile names like Bill Gates and Leonardo DiCaprio, Beyond Meat now has products being sold in 17,000 grocery stores and 12,000 eateries.
The term ‘plant-based’ has been a frequent topic of conversation recently amongst food entrepreneurs, but Beyond Meat was one of the first to take initiative so it has a head start on the competition. From concept to reality, Beyond Meat’s road to success has many lessons that aspiring entrepreneurs can benefit from.
A Compelling Back Story
Every great business pitch requires a heart-warming back story, a Eureka moment that inspired the founder to come up with an ingenious solution to an existing problem.
This gives the company character and a purpose in the eyes of the consumer and in the case of Beyond Meat, the founder in his letter to the SEC prior to filing for the IPO, recounted his memories of growing up on a family farm.
Ethan Brown spent a lot of his early years being in close proximity to farm animals and remembers questioning the need to slaughter animals to satisfy our need for meat-based products.
Reinvest in Reinvention
While there is no need to reinvent the wheel when it comes to dietary trends, it is, however, extremely important to keep evolving and beyond Meat has adopted this business mantra with open arms.
The main reason the company is not profitable yet is that most of the cash flow is reinvested into development, research, and optimization of improved business practices, marketing, production, and distribution.
Return on Investment
There are a number of ways businesses can attract investors, either by offering dividends, having large upside potential, or a strong balance sheet. In Beyond Meat’s case, it was the upside potential and early investors profited greatly from the company’s stock increasing astronomically to a market cap of $4 billion.
More in Life Hacks
Celebrities We’re All Hoping to See Making a Grand Comeback
There is a certain nostalgia that strikes when you hear an old favorite song on the radio, instantly transporting you back...October 12, 2023
Money-Related Questions to Ask Before Moving In Together
Moving in together is a significant milestone in any relationship. It’s a time filled with excitement, hope, and the promise of...October 6, 2023
Using Modern Tech to Take Your ‘Man Cave’ to a Whole New Level
Every man cave is a reflection of one’s personality, hobbies, and tastes. From cozy corners to sprawling rooms filled with memorabilia,...September 30, 2023
The Benefits of Breastfeeding for the Mother and the Baby
Breastfeeding is an age-old practice that has stood the test of time for its remarkable benefits to mothers and infants. The...September 30, 2023
Inflation Surge Over the Decades: What Lessons Can We Learn?
As an aspiring investor, understanding the history of inflation surge is vital. Inflation is a common phenomenon that affects most economies...September 21, 2023
Barbie and Ken’s Relationship: Weird Details We All Ignore
Barbie and Ken have been a part of most of our childhoods. We grew up playing with Barbie dolls, dressing them...September 15, 2023
The Future of the Healthcare Industry
As technology continues to evolve at an unprecedented pace, the realm of healthcare stands on the cusp of a remarkable transformation....September 5, 2023
Looking to Create a Dream Living Space? Here Are Some Tips for You
Your home is your sanctuary. It is where you relax, unwind, and spend time with your loved ones. Your living space...August 29, 2023
Leadership Lessons Gained From Fatherhood
Leadership is a skill that extends beyond the boardrooms and workplaces. It can also be cultivated and honed in the everyday...August 24, 2023