Mar 28 2024 42 mins
Encore Presentation: In this episode, we’re welcoming back Alex Bayer, Co-Founder and CEO of Genius Juice for an update. Genius Juice was featured on Shark Tank, they received Bevnet Smoothie of the Year, and Alex is now the host of two podcasts –15 Minutes of Genius and Friday Vibes, and he’s here to tell us about the latest news and progress around Genius Juice.
Genius Juice is the world's first all-organic plant-based smoothie made from the whole coconut. It blends only two ingredients: organic coconut water and organic meat to make a creamy, delicious and clean smoothie. Founded in January 2014, Genius prides itself on having 'No Dumb Stuff' in its smoothies. NO Gums/Emulsifiers, NO Natural Flavors, NO Stevia or Monk Fruit, and NO Added Sugar.
Join us as we discuss how the pandemic and supply chain issues affected Genius Juice (or didn’t), the benefits of their appearance on Shark Tank, how their business plan has matched up to reality, and hear some great advice from Alex on projections, investors, margins, and not overdoing it with product distribution.
The “NexxtLevel Brands Podcast’ is hosted by G. Steven Cleere, Founder and “Chief Pot Stirrer” of NexxtLevel Brands. This show focuses on disruptors and thought-leaders from the Entrepreneurial Food, Beverage, and CPG Industry, but we also share tips from veterans and key suppliers that may help fellow CPG professionals achieve their goals.
Discussion Points
- Welcome back to the show Alex Bayer
- Last time, you didn’t have a podcast!? Now you have two…
- Time commitments and guest availability for 52 weeks of podcasts
- How did your success escalate after Shark Tank?
- The initial burst, and the long-term relationships from Shark Tank appearance
- How did your business plan stack up against the actual results?
- How did Genius deal with the pandemic– team and supply chain?
- We want to do more team events, even though we are all virtual, we love being together
- How is your business different now, than when you appeared on Shark Tank?
- Being cautious about where you distribute your product– sales per door more important than the number of doors
- The learnings from placement in 600 Publix stores in the Florida market
- Pricing your product – promos vs. debuting at regular price
- Any “Oh Shit” moments you want to share?
- Pitching to investors, under-promising, over-delivering, investors never forget when you fall short of projections
- Tell us about your financing journey from then til now?
- You need to bake in good margins right away at the beginning
- Don’t be stingy with equity– the right partners can drive your business into the stratosphere
- Words to grow by: FDR– “The only thing we have to fear is fear itself”-- go for it, just do it if you have a good idea
Resources:
Genius Juice Shark Tank Appearance