In this episode I interview Simon Newstead, founder of Bite Society, a new vegan food product company in Melbourne, Australia.
A vegan for more than 10 years, Simon’s background is in technology. He’s a co-founder of Frenzoo, a mobile games studio in Hong Kong that has been in operation since 2008.
In addition, he’s an angel investor and supporter of other companies including Ocean Hugger Foods, Shiok Meats, Kinds of Grace and Hungry Planet.
Bite Society, a zero-profit company, was started in 2018 and launched its first products, milky chocolate balls and a chocolate block earlier this year.
Simon’s goal is to lower the price of vegan goods and he hopes to inspire other founders and projects through transparency and open sharing, including the company’s financials. To this end, he’s charting the journey of Bite Society via his Vegan Startup podcast.
In this episode Simon discusses:
• The key mistake many startups make and how to avoid it
• The pros and cons of either you or others promoting your products as the vegan version of well-known non-vegan products
• How to find a co-packer that helps you to keep costs down
• How to calculate your margins and profit – and what costs to include that many vegan entrepreneurs don’t do which can result in a business failing
• How to sell direct to retailers – without going door-to-door in person
• The low-budget marketing strategy he used to gain traction for Bite Society and how to do this right
• How the ‘zero profit’ company model works
• And much more
Brands mentioned in vegan business news highlights
Video of panel discussion Know Your Legal Rights & Responsibilities featuring Plant Based Foods Association’s executive director Michele Simon and other legal professionals, recorded at the Plant Based World Conference & Expo in New York, June 2019
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