Episode 219

Taste Radio Ep. 219: This Is How Category-Leading Brands Stay On Top

June 23, 2020
Hosted by:
  • Ray Latif
     • BevNET
Henry Chen, founder/CEO of SPI West Port, the owner of ALO Drink, ALO Snacks, Jen Collagen and Woodridge Snacks, spoke about the importance of staying true to the company’s core focus, who he views as the ultimate industry gatekeeper, how the company strategizes around retail placement and the key element entrepreneurs can’t overlook when scaling.
The centerpiece of a fast-growing snack and beverage platform, ALO Drink pioneered the premium aloe beverage market in the U.S. and is the country’s top-selling brand in the category. Launched in 2009, ALO Drink is owned by SPI West Port, a multi-faceted distributor, import, exporter and manufacturer of premium products that also markets ALO Snacks, Jen Collagen and Woodridge Snacks. In an interview featured in this episode, SPI West Port founder and CEO Henry Chen spoke about how he’s steered the development of ALO Drink and aligned brands by staying true to the company’s core focus on natural and better-for-you products, while thoughtfully incorporating functional ingredients and global flavors into its products. He also discussed his decision to expand from beverages into snacks and his perspective on the most impactful business relationships, and also shared poignant advice for early-stage brand owners gleaned from his experience as an entrepreneur.

In this Episode

0:42: Interview: Henry Chen, Founder/CEO, SPI West Port -- Chen spoke with Taste Radio editor Ray Latif about how his background as an importer led him to create ALO Drink, maintaining aloe’s cache as a superfood ingredient and who he views as the ultimate industry gatekeeper. He also discussed how SPI West Port strategizes around retail placement, why hiring salespeople with established buyer relationships has been critical and why beverage entrepreneurs can’t overlook the capital requirements necessary to launch and scale.

Also Mentioned

ALO Drink, ALO Snacks, Jen Collagen Water, Woodridge Snacks

Episode Transcript

Note: Transcripts are automatically generated and may contain inaccuracies and spelling errors.

[00:00:10] Ray Latif: Hello, and thanks for tuning in to Taste Radio, the number one podcast for the food and beverage industry. I'm producer and host Ray Latif, and you're listening to episode 219, which features an interview with Henry Chen, the founder and CEO of SPI Westport, the owner of pioneering aloe beverage brand, Aloe Drink. Just a reminder, if you like what you hear on Taste Radio, please share the podcast with friends and colleagues. And of course, we'd love it if you could review us on the Apple Podcasts app or your listening platform of choice. A plant-centric brand long before it was trendy to be marketed as one, Aloe Drink is the top-selling brand of aloe vera juices in the U.S. and the centerpiece of a fast-growing snack and beverage platform owned by SPI Westport. Founded by international businessman Henry Chen, the company also markets Aloe Snacks, Jen Collagen and Woodridge Snacks brands. In the following interview, I spoke with Henry about how he steered the development of aloe drink and SPI brands by staying true to the company's core focus of natural and healthy products, while keeping an eye on consumer trends. He also discussed his decision to enter the food business, and his perspective on the most impactful business relationships, and also shared poignant advice for early-stage brand owners gleaned from his 11-plus years as an entrepreneur. Hey folks, it's Ray with Taste Radio. I'm going to call right now with Henry Chen, the owner of SPI Westport, which markets aloe drinks and snacks, Collagen and Woodridge Snacks brands. Henry, how are you? I'm doing well. How are you doing, Ray? I'm doing pretty darn good now that I'm on the call with you. It's been years since we first met, and I feel like you and I kind of came up, or at least I came up, right around the time that I saw aloe drink appear on the market. You guys launched, I think, was that in 2009?

[00:02:11] Henry Chen: It was actually in 2008, so it's been 12 years, 12 long years, although it seems like it's also been very short as well. It just seems like yesterday that we were launching Aloe Drink at Expo. It really has been a roller coaster, and it's just astonishing. how fast paced this industry is. You know, when we got into the business, we just didn't know what we were getting ourselves into. And so it's in some ways hard to keep up. And it's just incredible to see how much change this industry has gone through in just this short amount of time.

[00:02:48] Ray Latif: Totally. And keep up. You guys have, though, the number one selling aloe drink brand on the market.

[00:02:54] Henry Chen: We try. We try.

[00:02:58] Ray Latif: It's worked out pretty well, I'd say. Let's back up a second and talk about how you got into this food and beverage business. You began as an export-import business, is that right?

[00:03:11] Henry Chen: Yeah, actually, how we got started was, you know, we had been a distributor of consumer-to-package good products in greater China for Well, over 25 years now, 25 years ago, we acquired the exclusive distribution rights for the Jelly Belly gourmet jelly beans for China, Taiwan, and Hong Kong. So if you wanted to get those products in those markets, you would get it through our company. And then since then, we've added many other sort of well-known CPG brands to our portfolio, including brands like Snyder's of Hannover pretzels and kettle chips and Pepperidge Farm cookies and Campfire marshmallows and many other brands. So over the years, in the course of our business overseas, we really saw many sort of unique products in the Asian markets that were just unseen in the States. And we came across this aloe vera drink and thought it was interesting. And so we decided, well, why don't we introduce this category to the American market? So I think it was about 15 years ago and we started distributing a different aloe vera drink brand into the ethnic channels here in the U.S. And it really proved to have some legs. You know, we grew that business to several hundred truckloads per year, just in primarily the Hispanic and Asian grocery channel. And that's when we decided, OK, well, let's launch our own brand. Let's tackle the mainstream U.S. grocery channels. But we wanted to build a better product. And so we created Aloe Drink as sort of the premium aloe vera based drink with the best natural, sustainable ingredients and unique flavors to try to set ourselves apart. We launched in natural because that was sort of the channel that had the lowest barriers to entry. and then took that into grocery, and then here we are today, and it just kind of took off from there.

[00:05:08] Ray Latif: Yeah, again, I remember when aloe water started to become an interesting trend within the beverage industry, I started to see a bunch of brands come to market. And that was, again, right around that 2010-2011 point, a lot of people pegged aloe drinks as the next coconut water. Yep. And for as many brands that came into the industry, as many brands left the industry. But Aloe has maintained, Aloe Drink has maintained its leadership position in this space. How have you continued to survive and thrive where others have really fallen off?

[00:05:48] Henry Chen: Yeah, I mean, it's a lot of luck, but I think a couple of things have helped us. And most importantly, we've really maintained the consistencies of our communication and our brand positioning. over time as well as maintain the quality of our ingredients. As we gain success over the years, we obviously saw many new brands enter the market, really driving down pricing. And our strategy was to not compete in this battle. You know we did not want to become a commodity product but rather we wanted to. We needed to maintain our leadership pitches in the minds of the consumers as the best. The number one aloe vera drink to kind of set us apart from all of the new rivals. But I think another reason we've been able to maintain this leadership in the category is innovation. We're always coming out with new flavors, of course, and even new line extensions. After our original line, we introduced aloe cocoa, which combined pure coconut water with aloe vera, then aloe light, which had half the sugar and half the calories than our original line. And now we're just launching, and for the first time publicly announcing on this program, Aloe Organic Zero, which is the first ready-to-drink aloe vera beverage brand that is USDA-certified organic and has zero sugars and zero calories. And we are launching in Whole Foods Market in July. We also just launched Gen, which is our new line Jen Collagen water and Fresh Thyme and other great grocery stores now. So we're continuing to innovate to support our leadership position in the Aloe Vera category. So innovation and consistency in branding and quality has really helped us maintain our number one position.

[00:07:48] Ray Latif: When an entrepreneur is bringing a new ingredient to the market or bringing a new product to market that has an esoteric ingredient or an ethnic ingredient, it requires consumer education. And consumer education can be very expensive. We talked about this a lot on the podcast. Is there a way to do it efficiently? I mean, at what point do you realize that consumer education has reached a tipping point and how did you get to that tipping point? Three questions in one.

[00:08:18] Henry Chen: Yeah, not an easy question, to be honest. You know, we've been very fortunate. But I would say this, that educating consumers is always very challenging, especially with a limited budget. So when you don't have the capital to do a large advertising campaign to talk about your drinks, It's really about first identifying the demographics, identifying the influence out there that are going to help you spread the word about the benefits and the values of your products and its ingredients. So when we launched, we spent most of our capital and most of our advertising budget on sampling events where we can get in front of the consumers and talk to the consumers in the channels where we felt our demographics were really shopping in the whole foods of the world of the sprouts of in the natural grocery channel as our brand expanded and gained more mass appeal. we started to broaden our message. It wasn't just about the functional aspect of the ingredient. It wasn't just about, oh, this is aloe vera is going to help promote a healthier digestive system for you. That was in the beginning. As we expanded, it was more about connecting with people, about promoting a healthy lifestyle in general. You know, this product is great tasting. It could replace your sugary soda. And besides, it has this great functional, healthy benefit for you as well. So we kind of took it in stages. It's, again, always very challenging. And luckily, as you expand and as you grow and you build up enough capital to be able to do more advertising, to be able to do more promotions, then you can, of course, have the opportunity to expand your message to more people.

[00:10:23] West Port: Guessing your margins? That's risky. Belay Financial gives CPG brands the clarity to scale smarter, faster, stronger. Get your free inventory ebook by texting TASTE to 55123 and start making data work for you.

[00:10:43] Jen Collagen: Tune in at the end of this episode for an exclusive interview with Matt Lin of Belay Solutions. He sits down with Melissa Traverse to break down the biggest inventory and accounting mistakes CPG founders often make. You'll learn how to bring clarity to your numbers so you can scale with confidence.

[00:11:01] Ray Latif: I'd love to talk about how you reach new consumers beyond marketing and promotional activities. From what I know and from what other entrepreneurs have told me, a lot of it has to do with relationships and the relationships you build with your distributors, your retailers, your brokers, merchandisers, et cetera. Absolutely. How would you rank, if you could, in order of importance, the top relationships that you need to cultivate in order to best attract the most new consumers? Is it about distribution? Is it about retail? Is it about merchandising?

[00:11:40] Henry Chen: Well, you're going to get me in trouble here, Ray.

[00:11:44] Ray Latif: Sorry about that.

[00:11:45] Henry Chen: To be diplomatic, everybody, all of these parties are very important. But honestly, I think certainly, you know, our relationship with our distributors, our retailers, our sales brokers are sales people and even our internal team is is critical or has been critical to our success. So it's difficult to rank. But obviously I would say that you know the retailer is certainly the ultimate gatekeeper. And as you know Ray and more so than I do you know there are five to six hundred I think new drink brands that pop up every year every year vying for shelf space. So You know, it's a it's a very, very competitive industry. And so the retailer really holds the key. You know, if the retailer wants a product, the distributor is going to break it in. We've been very fortunate to have really the top sales people, I believe, in our industry that have the relationship with these retailers, as well as the great relationship with our distributor partners, the UNFIs of the world, the CAHIES of the world. and even they are our DSD network that we've built up over the last few years. So they're all critically important to the success of our growth. Merchandisers are certainly important once we launch just to make sure that you're performing at retail. And marketers, certainly very important to ensure that we have a consistent messaging and to ensure that we're always in front of the consumer and not getting lost.

[00:13:29] Ray Latif: A lot of people looked at aloe and continue to look at aloe as a superfood ingredient. Now, that meant something a few years ago. Nowadays, everything's a superfood ingredient. Nowadays, it feels like there's a new ingredient that will save the earth, save your life, save something, as long as you drink it or eat it. And it's something that has kind of muddied the waters this term superfood, you know, as the industry has evolved. How do you maintain aloe's integrity as a superfood ingredient when the term itself has been kind of watered down?

[00:14:08] Henry Chen: Yeah, you know, luckily for us, the plant-based category is really becoming a hot trend right now. And so we were really the first plant-based beverage and that really helped spotlight the category But you know obviously constant and consistent message being extolling the virtues of the aloe vera plant is importing it and supporting it with the best products in the category. But I think importantly you know the product just has to taste good. You know super food trends come and go. But at the end of the day I feel consumers come back because they enjoy the taste of the products. I've seen so many superfood products fail because they don't seem to have that right mix of flavor and functionality. So to expand the appeal and virtues of the aloe vera plants, you know, we have been very diligent in making a very, very important part of our brand come up with formulations that taste great, you know, so that the consumers can come back to it day after day.

[00:15:14] Ray Latif: So your core business, again, is beverages, though you've since entered the food space as well. We talked about Aloe Snacks and Woodridge Snacks as well. You know, how long have you been planning to get into the food industry? What drove your interest in that business?

[00:15:33] Henry Chen: Well, as I mentioned before, we've been distributors of consumer packaged good snack bugs for nearly 25 years, primarily in overseas markets. And Woodridge Snacks is actually a brand that we created and started selling in Asia over 10 years ago. So over the past couple of years, we've been thinking about it and decided to launch the Woodridge Snacks brand into the United States mainstream grocery channels. We rebranded and reformulated the Woodridge Snacks brand for launching in the U.S. And the reason why we did so was it was frankly for growth. You know, as aloe continued to grow, we could see that growth slowing down and even in some channels plateauing as we saturated the grocery channels, the convenience stores, the mass market channels. So we realized that achieving growth with additional flavors was limited. You know, adding flavors would always result in some cannibalization. And buyers, frankly, will only give you so much shelf space for your brand. So we needed to move to a different part of the store while at the same time leveraging what we had already built up over the years, our sales network, our relationships, our experience. And so Woodridge Snacks and LS Snack was the answer to help us grow and evolve our business to not just one of selling drinks, but also offering all other sorts of products that could support a better lifestyle and help us gain shelf space in other parts of the store. For our snack products, we really see that as a platform for us to launch a variety of different types of products into the market. You know Woodridge Snacks is really like I said a platform for us. It's really more about bringing consumers products that they would otherwise have never seen before. It's really really more about discovery. So it will allow us to get into all sorts of different categories. You know we have the tempura seaweed chips line. We have the mochi rice nugget lines, we have the ginger juice line, whereas in beverage, you know, we're really focused on just one aisle in the store, just one set in the grocery stores. in the U.S. I remember when I started, when we looked at ala drink and we saw some very interesting products like asparagus juice, for example, or little tapioca drinks that were selling in 7-Elevens in Taiwan. And even back 20 years ago, I remember seeing vinegar drinks, flavored fruit vinegar drinks, that are the rage now here in the U.S., but were prevalent all over Asia 15, 20 years ago. Now we're looking at all sorts of different products in Asia in the snack category as well. And we see some very interesting things. You'll see some come online very soon on the Woodridge Snacks span. Nothing that I can disclose just yet. But you know, we look at different type of even traditional foods and see how we can reposition those foods to make it more attractive. to the mainstream consumers. So we'll do things like take a traditional food and flavor it with flavors that are more acceptable to the mainstream or more familiar to the mainstream American consumers, for example. And you'll see more and more of that as we progress.

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[00:20:22] Ray Latif: It's interesting, as we've been having this conversation, it feels like a lot of what you've talked about relate to very approachable and easily understood aspects of food and beverage. Things that taste good, number one, and things that can appeal to an American consumer or consumers in general in terms of pleasing flavors. It doesn't sound that hard. But you know, what makes being in this industry really complicated? I guess, what are some of the biggest pitfalls when it comes to product development and releasing new products? As I assume everything that you've launched, and I know this, you know, not everything has been a home run. No. But you know, what are some of the stumbling points? What are some of the lessons you've learned about product development and how to appeal to consumers? You know, when, again, it does seem like The simple answer always comes down to great Taste Radio good flavors.

[00:21:24] Henry Chen: Yeah, and I think that's absolutely right. Great taste is always going to be, in my opinion, number one consideration when you're developing food and beverage products. Certainly, as we talked about, having products that are on trend now, for example, functional drinks are really on trend and gaining in popularity across all channels. But some of the pitfalls that I've seen is I feel that when you're developing a new product, you really have to think about the volume potential. You really need to find something that will have, potentially have a mass appeal, because no matter whether you market a product that can sell to 10 people or potentially sell to 100,000 people, you know, the slotting fees, for example, at the grocery stores are the same. right? You're paying $10,000 for a SKU that can sell a lot or sell a little. So there's something that is important to keep in mind. And so when we develop flavors, yeah, we're looking for something unique. You know, we have things like our tempura seaweed chips, for example, that is a brand new category. It's a whole different type of product than any other seaweed type of snack in the market, but we're looking to gain mass appeal for this product, and so we flavor it with some more familiar flavors like hickory, barbecue, sriracha, and sea salt. Not to say that we don't innovate and come up with flavors that may have some niche following, for example, our Tom Yum flavor and our Mochi Rice Nugget line, But those are, you know, flavors that of course help position the brand. But at the same time, we're always looking for flavor profiles that could have a much wider audience. And that's something that I've learned over the years. We've in the past come up with flavors that I think were a little bit too ahead of their time. So it's always important to keep that in mind. I think the other big stumbling block, you know, a lot of entrepreneurs have asked me, you know, about starting and running a business or starting and launching a new brand is you cannot underestimate the capital requirements for launching a brand. A lot of times people feel like, oh, if I can just make a product that tastes good, people are going to come to it, consumers are going to buy it. Yes, but you better be sure that you have the capital needed to carry the inventory, to carry the accounts receivable and to meet the minimum order requirements from your co-packers and to pay the salary fees and so forth. And so that's something I feel like as companies develop brands that, of course, as entrepreneurs develop brands, they need to keep in mind. The other thing that I found over the years is when you're developing a new product, you need to be first to market or among the first to market. When we looked at coconut water, for example, you know, when that was the hottest craze we saw Tens and maybe even hundreds of different brands come to market. But at the end of the day, only really the top three have survived in the grocery channel. And that's just simply because there's just so limited shelf space and buyers are not going to put so many brands of one category on their shelves. Right. And so when we're developing brands and flavors and products, it's important to come up with things that are unique, that are innovative. And instead of following trends, really try to be the leaders of the categories.

[00:25:11] Ray Latif: Henry, as I mentioned at the top of our conversation, it feels like in so many ways we've kind of grown up together in this crazy industry of ours. And it's so good circling back with you to talk about the growth of your brands and how you've navigated your way through this industry. I think this is going to be really good information for our audience. And I sincerely hope that we can do this again in say another 10 years and see how SPI Westport and its brands are doing at that point. So once again, thank you so much for joining me on Taste Radio and good luck with everything going forward.

[00:25:49] Henry Chen: Thank you so much, my friend. It was absolutely my pleasure. Thank you again. Thank you.

[00:25:58] Ray Latif: That brings us to the end of episode 219. Thank you so much for listening and thanks to our guest, Henry Chen. You can catch both Taste Radio and Taste Radio Insider on Taste Radio, the Apple Podcasts app, Stitcher, Google Podcasts, and Spotify. As always, for questions, comments, ideas for future podcasts, please send us an email to ask at Taste Radio. On behalf of the entire Taste Radio team, thank you for listening, and we'll talk to you next time.

[00:26:36] Woodridge Snacks: Hello, I am Melissa Traverse here for the Taste Radio podcast, talking about some of the biggest tension points that CPG brands and founders face when they're scaling a brand, and those are financial accounting and inventory management. I am joined by Matt Lynn, inventory accounting guru from Belay Solutions, and he is going to shed some light on all of this that is going to help everybody out quite a bit. Matt, thank you so much for joining us today.

[00:27:06] Taste Radio: Thank you for having us, Melissa. It's great to be out here at Expo West and it's great to sit down and be able to chat this because it's kind of a passion project of ours, working mainly with CPG brands and hoping to help them scale.

[00:27:18] Woodridge Snacks: It's been such a pleasure chatting with you and the team and learning all about what you do over there at Belay Solutions. Can you tell us a little bit about yourself and what your role is and the kinds of solutions that Belay gives to CPG brands and founders?

[00:27:33] Taste Radio: Yeah, absolutely. My role with Belay, I'm actually our inventory accounting manager. I run our inventory department, so we work with CPG brands, taking them from spreadsheets, putting them on inventory management systems, and really helping connect their tech stack between their sales online marketplaces to that inventory management system, even down to their financial systems like QuickBooks. Belay overall is kind of an outsourced accounting firm. And with that, we're helping teams. We have different levels with bookkeeping, controller level work, even high level into CFO type items. So we really help those brands in any way that they need financially. And then I just have a subset of a department where we're really just laser focused on inventory.

[00:28:16] Woodridge Snacks: It's certainly a complex topic and there are plenty of places to go wrong. Let's start by going right and start super simple. Can you tell us what some of the biggest red flags are that would help a founder understand or, you know, the person running a brand understand that it really is time to get some help with some of these areas?

[00:28:37] Taste Radio: Yeah, absolutely. I think some of the early red flags is just everything is chaos. So when they're looking in their financial software, maybe they don't really have an accounting background, and they're kind of just piecing it together and doing their best. And what they'll see is that reconciliations take forever, if they even happen. They have a lot of transactions that don't get coded, or they just put them into placeholders to just get rid of it so it's not an eyesore. they'll notice they have revenue but no cash or they notice that they have a good amount of cash but their blind spot is really seeing the vendor invoices that are sitting there just needing to be paid and so they just lack that clarity that's going to really be around the corner.

[00:29:14] Woodridge Snacks: You know, you were talking about one of the red flags that comes up that I think makes so much sense. When somebody asks you what your numbers are and you can't come up with the right number, that's a big problem because that's something that you really should be able to share with decision makers who you're ideally looking to do business with. What should you be able to call up at a moment's notice?

[00:29:38] Taste Radio: Really at any time, you should be able to know an accurate margin. It's amazing how many founders we end up talking to that they can tell you their revenue numbers, they can tell you their selling price, and then the minute you start talking about cost or their cost of goods sold, they just get a deer in headlights look. So really it's very hard to tell, am I even making money? Or if you don't know your entire landed cost. Maybe you know what the freight cost is, the duties separately, but you're not really getting that as part of your unit cost. So it's really hard to tell. Am I even making money or am I losing money from the very beginning?

[00:30:11] Woodridge Snacks: And do you recommend that founders are able to call up a margin by channel?

[00:30:16] Taste Radio: Absolutely. And depending on the number of products and channels, you kind of want to know what are your best sellers, which ones are making the most and which ones maybe you're not making as much. But especially if you're branching out and you're doing D to C with B to B, absolutely want to know that.

[00:30:33] Woodridge Snacks: Gotcha. You mentioned that when things feel really chaotic, that's probably a red flag. I would say that it probably almost always feels chaotic if you're running a CBD brand. And I know this may be hard to quantify, but is there a revenue number? Is there a number of doors number that would help a brand understand whether or not it makes sense to bring on a partner like Belay? Understanding that so many brands are bootstrapped or they might be tight for cash. What is that friction point?

[00:31:03] Taste Radio: 3 3 3 3 3 But as you're growing, as you're getting into those six-figure revenue numbers, and especially as you're approaching seven, you want to make sure you've got good financials. Because as you scale to that point, most likely you're going to be looking to raise capital. And investors, the first thing they're going to look at is your books. And are they clean? And do they show a clear picture of your business?

[00:31:36] Woodridge Snacks: You know, another area that folks might look to to organize some of the chaos are their systems. So many folks stick with Excel spreadsheets for a good amount of time. How do you know that you need to outsource some of your accounting to an organization like Belay Solutions versus maybe signing on to a Synth7 or NetSuite or something like that?

[00:31:58] Taste Radio: Well, that's actually something we really help with when it comes to that cost question. That's something that trips people up. And sometimes if you just have a turnkey business, you buy and sell a finished good, you can maintain with spreadsheets. And we've had clients with million dollar revenue that can do that. But we see so many brands nowadays are using contract manufacturers. and they're just sourcing certain parts of their product. So when you start talking costs, they have no idea exactly what their unit cost is. So that's where we come in and we kind of understand, we'll speak with the customers and the clients and get their needs. And then if we think they're ready for a system, then we'll help put them on that system so they can get some of that clarity. And it's not something we force on anybody. There are plenty of times where founders come to us and we'll tell them bluntly, you're not ready for it right now, but we'll let you know when we think you are.

[00:32:45] Woodridge Snacks: That sounds like excellent advice. What should a founder or somebody running a brand look for in an outsourced accounting partner? Are there certain checklist items that they should make sure that their partner be able to execute or be able to help them understand?

[00:33:02] Taste Radio: Absolutely. I think one of the keys there's, there's a lot of outsourced accounting firms out there. Some focus on service-based SaaS companies, but if you're a CPG founder, you really want to make sure that your accounting firm has CPG experience. I would ask them, you know, what kind of brands have they worked with? And even beyond that industry specific, because there's so many subsets of CPG. And that's something that I think is great about what we do with Belay is that we kind of run the gamut. It's kind of like the insurance commercial. We know a thing or two because we've seen a thing or two across a broad spectrum.

[00:33:31] Woodridge Snacks: Probably getting references is always helpful, right? Absolutely. All right, so this all sounds great. I think we have a really good understanding of would it make sense to hire an outsourced partner? You know, what some of the things you should be looking for are. What does offloading this kind of work mean for the brand? What can this do for lightening the load of a founder or lightening the load of a brand operator? Like, how does that help them in their everyday business?

[00:34:01] Taste Radio: It just tries to really help quiet the chaos. So what we're looking to do is just take some of the weight off that founder's shoulder, let them focus on building the brand, building the business, getting that exposure. If you don't have sales, you really don't have anything. So we want them to be able to focus on that while we take care of your back end office work. And we can just present that to you on a monthly basis, you can help make decisions, you can take that to investors. And really, you can just focus on growing your business.

[00:34:26] Woodridge Snacks: I feel like I felt founders and the folks who are running brands collectively sigh a breath of relief just hearing that. How can people learn more about Belay Solutions?

[00:34:37] Taste Radio: So people can text TASTE to 55123 for their free inventory guide to get started.

[00:34:43] Woodridge Snacks: Matt Lynn, inventory accounting guru at Belay Solutions. Thank you so much for joining me here at Expo West. It's been such a pleasure to chat with you and learn about what you all do over there to help founders and brands with their financial accounting and inventory management. For everybody else out there, thank you for listening to the Taste Radio podcast. I am Melissa Traverse and we'll see you next time.

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