Success Stories: Finding a Niche
Success Stories: Finding a Niche
Noha Waibsnaider founder and CEO of Peeled Snacks discusses creating a unique product to find success within a packed snack food market.
00:08 Noha Waibsnaider: Hi, I'm Noha Waibsnaider and my company's Peeled Snacks. We make organic, gently dried fruit with no added sugar, no added oils or preservatives. I'm originally from Israel where they eat a lot of dried fruit and it's very high quality. I realized that there was really a big opportunity in the US to bring that to the US market.
How does Peeled stand out in a crowded market?
00:30 Waibsnaider: Everyone's initial thought was, dried fruit? Aren't there a lot of other dried fruit out there? I said, yeah, name a great dried fruit brand of dried fruit that you like to eat, and nobody could name one obviously. We see ourselves as being everywhere you need a snack and obviously places like Starbucks or Hudson News are a really good start for that. We also see ourselves as really regenerating the dried fruit category. So you're not just going to think of raisins and prunes and cranberries and lots of, essentially, sugared fruit, but really as something that's a snack, that's real food that you can take with you, and really helping to grow that, that part of the category.
What challenges has you success posed?
01:13 Waibsnaider: Very early on, when we launched, we were featured in Oprah's O list which was amazing. You know, the next day our online sales just skyrocketed which was great except that we didn't really have much distribution anywhere besides online. So we had a little bit of distribution in the New York metro area, but then if you were living in Kansas City the next day, you had nowhere to buy Field Snacks except for online. And so, it was great to be in Oprah's O list and yet at the same time, it was kind of a waste of that big opportunity because we couldn't drive sales anywhere else.
What facilitates your company's growth?
01:49 Waibsnaider: So another key lesson is that you're really only able to grow as much as your network grows and so the people that you work with, the people that you bring on board to your team, the people that you meet outside of your company, are so key to your business growing. And that's important because you should really be thinking about not only what you can get out of your network, but what you can provide to your network so that they are continuously growing and expanding and helping you grow with them.
What has helped you through short-term struggles?
02:22 Waibsnaider: If you think of it as a marathon, as something that you're going to be in for a long time, as something that you're really passionate about before you begin, that you can think about doing for 10 or 20 years. You're not going to feel the bumps in the road quite as much if you think of it as something more long term.
02:36 Waibsnaider: I went to business school before starting Peeled Snacks and one of the things that you learn in business school is that everything should be a $10 million idea overnight or it's not worth starting and you're always going to sell your business in 2 to 3 years or maybe 3 to 5 years. And I think when I started Peeled Snacks I went into it with that mentality. And the further I get into it, the more I realize that having a much more long term view is a lot more helpful.
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