inmyelemnt.com
Elemnt is a business I started to serve an under developed segment of the food industry: liquid food. Specifically, nutrient dense meal replacements. Link here: inmyelemnt.com. I took this business from inception to seed round Venture Capital talks. It started when I was not hungry (because I was sick), but really needed high nutrient meals. I started prototyping with small batches & off it went; elemnt was born. Product development took around 14 months total to complete with a 5 month break in there for my Vietnam study abroad. From website development, to product design, to recipe perfection, to branding, to marketing, to finance, to literally any business segment; I gained tremendous experience during this phase of the process. Managing around 8 different teams allowed me to make connections between market segments that few rarely get the opportunity to see correlation. However, funding was the piece of the puzzle I still had yet to put in place in order to scale this venture.
Project:
Elemnt Nutrition
Position:
Founder/CEO
Discipline:
Personal Nutrition/Meal Replacement
Duration:
January 2018 - September 2019
The DTC unit price was $44/box with each box containing 10 bottles. $21 COGS gave me a 52% profit margin. My goal was to generate enough traction with a pre-sale launch that I would be able to show I could receive and fulfill orders at increased volume in the future. The pre-order sold over 50 boxes and earned me a meeting with the managing director of Hyde Park Angels in Chicago. Unfortunately, talks were called off due to the coronavirus; as with so many other things. You can check out the very cool marketing content and future plans for Elemnt in the images section. WIP.