“With [SBDC Advisor] Ashwin’s support, we were able to evaluate our areas of strength, plan a strategy for expansion, obtain loans and significantly increase revenues.”
ECOlunchbox has developed a back-to-basics lunch ware product line hewn from traditional reusable materials: stainless steel and cotton .It is completely free of waste and saves families hundreds of dollars. ECOlunchbox went to the SBDC to gain guidance in business planning, financial strategies, and sales development.
ECOlunchbox developed a back-to-basics lunch ware line hewn from traditional reusable materials: stainless steel and cotton. It’s completely free of waste and saves families hundreds of dollars.
ECOlunchbox is currently selling wholesale direct to national chain retailers including Whole Foods and The Container Store. The company also sells through established natural products distributors, such as Down to Earth Distributors, Frontier Natural Products, Lotus Light Distributors, and Honest Green Distributors. They sell directly to independently owned natural groceries, co-ops, boutiques. They also sell directly to end-users through our online store.
The ECOlunchbox’s-tiered distribution network was well established but the demand for its green consumer products was stronger than the small company could support due to undercapitalization. The company would frequently go out of stock on all its products due to high demand and lack of resources to adequately buy stock. Additionally, the bootstrapped company was seriously understaffed. Founder and President Sandra Ann Harris needed to focus on putting the financials together to obtain support for continued inventory purchases and company expansion.
The following areas and topics were addressed:
Planning: An executive summary was researched and written to demonstrate the company’s strengths and understand the market forces driving growth.
Financial: Bank Loans, Equity Investment, and Convertiblewere evaluated in detail. Business Loan packages and Investment Pitches were fine-tuned for presentations.
Sales Focus: its existing multi-tiered distribution and added new channels to its sales development plan for 2012.
- Revenues increased more than 50% during the first 6 months of 2012 over 2011
- Employees doubled from end of 2011 to mid-2012
- Office space has been secured
- Received $200,000 in loans for expansion