Founder Liz Lane Launches Scoops At Target
Liz Lane pitched her plant-based peanut butter protein powder Scoops to Target with one sample and no money, resulting in $400,000 in sales last month. This success may encourage entrepreneurs to consider slower-growth approaches.
Original reporting · entrepreneur.com
Original: “I Pitched My Business to Target With 1 Sample and No Money. It Hit Shelves Fast and Did $400,000 in Sales Last Month.”
Read “I Pitched My Business to Target With 1 Sample and No Money. It Hit Shelves Fast and Did…” at Entrepreneur →
How this was written. GMS Agency Desk wrote this article with a language model from Entrepreneur’s reporting (model: @cf/meta/llama-3.3-70b-instruct-fp8-fast); it describes that reporting rather than adding to it. The original, linked above, is the full story.
Key points from Entrepreneur’s report
- Liz Lane launched her plant-based peanut butter protein powder Scoops at Target with one sample and no money, resulting in significant sales
- Lane raised $500,000 from her supply chain to fund the launch of Scoops, which may have been a key factor in its success
- Lane believes that growing slowly and sustainably can be an effective business strategy, allowing entrepreneurs to test their products and build a loyal customer base
Liz Lane, founder of Scoops, has worked in food and beverage startups for over 12 years, according to Entrepreneur. She helped brands like Huel and Magic Spoon scale their operations before deciding to start her own brand. Lane wanted to create a product that would fit her own eating habits, which led her to explore peanut butter as an option.
Lane connected with a supplier who was about to launch a new peanut isolate, which would improve the nutritional content of peanut butter. She realized that putting the peanut isolate in powder form could be a more efficient way to consume it, with 75% less calories and 95% less fat. This concept became the basis for Scoops, a plant-based peanut butter protein powder.
Lane pitched the concept to Target with just one sample and no money, but the retailer was excited about the product and its potential for innovation. Target planned to test Scoops in a small number of stores, but ultimately decided to launch it in over 1,100 locations. Lane had just a few months to raise money and get the brand on shelves, which may have been a challenging task.
Lane was able to raise $500,000 from her supply chain, which included her manufacturer and supplier as investors. This non-traditional fundraising approach allowed her to move forward with launching Scoops. The brand launched in Target in May and did $25,000 in sales in its first month, which may have been a modest start, but it grew to $400,000 in sales last month.
Lane attributes the success of Scoops to its partnership with Target, which has provided valuable support and visibility. The brand is currently featured on an 11-week end cap, which has helped to drive sales. Lane is also working with influencers and using gifting strategies to get the product into consumers' hands. As the brand continues to grow, Lane may face new challenges, but she is focused on building a sustainable business.
Lane's experience with fast-growing startups like Magic Spoon and Huel has taught her the importance of planning and responding quickly to changes in the market. However, she also believes that growing slowly can be an effective business strategy, allowing entrepreneurs to test their products and build a loyal customer base. Lane is excited about the potential for innovation and is working on new products, which may help to further establish Scoops as a household brand.
Lane's advice to entrepreneurs hoping to break into the consumer packaged goods (CPG) space is to consider growing slowly and sustainably. She notes that it's okay to build a small business and test the market, rather than trying to launch a brand with a massive exit strategy. Lane also emphasizes the importance of positioning and running the business, rather than trying to reinvent the wheel with a completely new product or idea.
Questions and answers
How did Liz Lane come up with the idea for Scoops?
Liz Lane came up with the idea for Scoops by exploring peanut butter as an option and connecting with a supplier who was about to launch a new peanut isolate.
How did Lane raise money to launch Scoops?
Lane raised $500,000 from her supply chain, which included her manufacturer and supplier as investors.
What is Lane's advice to entrepreneurs hoping to break into the CPG space?
Lane's advice is to consider growing slowly and sustainably, and to focus on positioning and running the business, rather than trying to launch a brand with a massive exit strategy.
