"Increasing sales is not the solution to profitability."

Sarah recently shared on Social Media that one of her clients increased their July profit - year over year - from $19,000 to over $43,000.

It got lots of hearts and clap emojis, and one reply that said “this is so inspiring - how did they do it?”

In this episode, Sarah shares all of the details of how her client doubled their profitability. She walks Chelsea through the process of using a Profit Assessment to easily analyze the business, pinpointing what could (and should) be changed to improve profitability, the planning process, and how the founder successfully executed change. 

You’ll also learn:

• Why “selling more” was not part of this founder’s strategy for increasing profitability

• How and when increasing revenue can actually make your profitability and cash flow worse

• Tactics for balancing growth with cost-saving methods as you work to increase profits

• The reason Sarah always starts her process with a Profit Assessment, and the actionable insights the Profit Assessment provides

• Why the “check and adjust” cycle is crucial to building a financially successful food business

… and more!

Ready to dig into this work inside your food business? Take the Profit Assessment.

The Good Food CFO Book Club: 4000 Weeks by Oliver Burkeman

Grab your copy in our Book Shop

RSVP for our Live Discussion on Sept. 18th

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Instagram: @TheGoodFoodCFO
YouTube: @thegoodfoodcfo

Join us in The Good Food CFO Community 

"Things can look really good from the outside and your business can be failing."

20% of businesses fail in their first year, 30% by their 2nd year, and an additional 50% fail in year three.

In this episode, Sarah is joined by John Haskell, CFO Consultant and owner of Ranch Right, LLC. John has over 20 years of experience helping ranches become more profitable, starting new ranch businesses, and turning around failing ranches. Together, they are shedding light on the common causes of failure in business, and answering the question: Is it more important to have positive cash flow in your food business, or to be profitable?

They explore the difference between the “economics” and “financials” of your business, and the need to be honest with yourself about both. Sarah and John also define the various stages of starting, building and running a business, and share their guidance for prioritizing cash flow or profitability at each stage.

You’ll hear:

• What costs you MUST consider before launching your business, a new product or a new sales channel

• Why focusing on gross profit and cash flow is crucial in the early stages of your business to ensure financial stability

• What it means to “catch up to your overhead”, and how that impacts growth

• When you should start focusing on profitability in your business

• How to build cash reserves so can you weather the storms and seize opportunities during challenging times

• And More! 

Bonus Clips from this Episode:

Is leaving money in your business smarter than investing in the market?

Connect with John

Website: Ranch Right LLC

Facebook: Ranch Right LLC

Instagram: @ranchrightllc

Book a Discovery Call

From Our News Segment

Kroger-Albertsons Deal Would Remake Seattle-area Grocery Map

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As a Good Food Founder, you will face many challenges as you work to grow your business. Staying true to your mission and vision is essential to being grounded in that work.

In this episode, Sarah is joined by Sara Hauman, Founder of The Tiny Fish Co. to discuss her vision for bringing the same values of sustainability and quality she stands by in a professional kitchen to the retail world. 

Sara shares her journey into CPG, which began with her desire to find a more balanced and fulfilling career outside of the restaurant industry. After appearing on Top Chef, she decided to pursue her passion for canned fish and started her own brand. 

They discuss:

• Why Sara believes that staying true to oneself and doing things in a way that aligns with personal values is more important than pursuing maximum profitability.

• What it can look like to prioritize financial security and a healthy work-life balance.

• How a business can be a side hustle rather than a full-time venture if it aligns with personal goals and priorities. 

• Sara’s commitment to education and consumer awareness on making sustainable choices about seafood and understanding the impact of the fishing industry.

• How she has adapted to customer feedback

• And more! 

Connect with Sara

Website: The Tiny Fish Co

Instagram: @thetinyfishco

Instagram: @chefsara_h

From our News Segment

Bringing Back Local Milk, Ice Cream, and Cheese

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Join us in The Good Food CFO Community 

It often seems like there are more people offering business advice than those actually running businesses! 

As a Food Founder, it can be overwhelming to sift through all that guidance and find what truly works for YOUR business. 

In this episode, Sarah shares another set of crucial "Never Do's" for Good Food founders and business owners. This list aims to help you avoid common pitfalls perpetuated by traditional business media and make informed decisions tailored to the unique needs of your food business.

You’ll hear:

• The importance of thinking critically about any advice you get to determine if it truly makes sense for your food business

• How two-way sync between QuickBooks and bill pay systems can create chaos in your financial reports

• Why you should never include overhead costs (like rent) in the calculation of cost of goods sold (COGS)

• What you should be including in COGs, and how to differentiate

• And more! 

From Our News Segment:

Kroger-Albertsons Deal is Haunted by "Spectacular" Past Failure

Kroger-Albertsons Deal Would Remake Seattle Area Grocery Map

Albertsons COO to Lead C&S Retail

Kroger-Albertsons Companies Announce an Updated Divestiture Plan 

Stay Connected!

Instagram: @TheGoodFoodCFO
YouTube: @thegoodfoodcfo

Join us in The Good Food CFO Community

Transitioning to a cooperative structure isn’t just a trend; it’s a transformative journey.

In this episode, Sarah welcomes a panel of leaders to explore the real-life experiences and benefits of transitioning to employee ownership and cooperative business structures. 

Stacey Smith from Project Equity explains the different models like ESOPs, EOTs, and worker cooperatives, emphasizing their role in economic stability and community retention. Devra Gartenstein, founder of Patty Pan Cooperative, shares her journey of converting her food business into a worker cooperative to improve employee quality of life. And Monica Rocchino discusses her experience transitioning The Local Butcher Shop to a cooperative, highlighting the importance of financial literacy and structured management. 

You’ll hear:

• About the challenges and successes in converting traditional business structures to cooperatives.

• The role that financial literacy and education plays in employee ownership

• The variety of Governance and management structures in employee-owned businesses

• The importance of financial viability for transitioning to employee ownership

• How employee ownership promotes equity and fair compensation in the workforce

• The ongoing support and resources available for businesses considering employee ownership transitions

• And more!

Connect with our Panel:

Stacey Smith - Project Equity

Monica Rocchino - The Local Butcher Shop

Devra Gartenstein - Patty Pan Co-Op

The Good Food CFO Book Club:

BookShop

https://www.thegoodfoodcfo.com/live-events

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Instagram: @TheGoodFoodCFO
YouTube: @thegoodfoodcfo

Join us in The Good Food CFO Community 

Growth isn’t always linear.

From opening new locations to driving retail sales, the story of Boichik Bagels offers valuable lessons for food founders on their own path to building a successful business.

In this episode, Sarah welcomes back Emily Winston, Founder and CEO of Boichik Bagels, to discuss the growth and expansion of her business. Emily opened her first bagel shop in Berkeley in 2019 to huge success, with the New York Times declaring Boichik the best New York-style bagel in the country - full stop.

Since her first visit to the podcast, Emily has opened 5 locations in the Bay area, as well as an 18,000 sq. ft. bagel factory. She has completed 2 hugely successful raises on SMBX’s small business bonds platform, launched nationwide shipping, announced plans to expand to Los Angeles, and been awarded “Most Admired CEO” by the SF Business Times.

Along the way, Emily has had to make strategic decisions, lean into her role as a CEO, and adjust her expectations that everything will be a “home run”. But one thing remains the same: her vision to take over the world with great bagels! 

You’ll hear:

• How Emily is approaching new store growth differently from her last appearance on the show

• The impact that promoting a key employee to COO has had on the business

• What’s different now that she has officially taken on the title of CEO

• The challenges of breaking into distribution, and how Emily is adjusting her strategy

• Why Boichik is starting with 2 locations in Los Angeles

• And More! 

Bonus Clip from this episode:

How to Create a Company Culture, and Why You Should Enjoy Saying No 

Connect with Emily

Website: Boichik Bagels

Instagram: @boichikbagels

From Our News Segment:

The Revolution that Died on Its Way to Dinner

Stay Connected!

Instagram: @TheGoodFoodCFO
YouTube: @thegoodfoodcfo

Join us in The Good Food CFO Community 

Uncover the many advantages of bill pay systems for a more efficient and organized operation!

In this episode, Sarah Delavan and producer Chelsea Stier dive into the topic of Bill Pay Systems and the financial workflows of food businesses. Along with learning about the primary functions and benefits of bill pay systems, you’ll hear how they can be utilized beyond simply paying your bills. Sarah also emphasizes the importance of implementing these systems even for solopreneurs and small teams.

In this episode, you'll learn:

• What Bill Pay Systems can do, AND what they are not yet capable of managing

• How implementing bill pay systems can declutter your inbox and create a more organized workspace.

• Why delegating bill pay tasks and utilizing approval functionality allows for better cash flow management and control over payments

• What you should consider when choosing a Bill Pay System for your food business

• And More! 

Join the discussion, and explore how creating efficiencies and improving communication can lead to unlocking potential and growth in your food business!

In this week’s News Segment, Sarah and Chelsea tackle the eye-opening stories about the lesser-known world of restrictive covenants in the grocery industry. They delve into the practices that impact food access and shed light on the role big retail and grocery businesses play. This is another story that emphasizes the need to advocate for a more equitable and accessible food system!

As always, if you have any questions, insights, or feedback on this episode, please reach out to our team at [email protected]. We'd love to hear from you!

From our News Segment:
How Leaving Stores Closed for Years Helps Grocery Chains and Hurts Communities
How Closing Grocery Stores Perpetuate Food Deserts Long After They’re Gone
How Some Big Grocery Chains Help Ensure That Food Deserts Stay Barren
Lease Resistance
Food Deserts, Racism, and Antitrust Law

Stay Connected!

Instagram: @TheGoodFoodCFO
YouTube: @thegoodfoodcfo

Join us in The Good Food CFO Community 

How can cutting-edge technology like generative AI benefit Good Food Founders? 

What opportunities and challenges might arise from incorporating AI into your business operations?

In this episode, Sarah welcomes Meg Faibisch Kuhn, an expert in AI, to discuss the applications of generative AI in your food business. Meg is the founder of Aioli, an AI education and consultancy firm specializing in helping founders understand, learn, and apply AI in their work. 

Meg's first hand exposure to critical operational and marketing bottlenecks has equipped her with the insights needed to harness the potential of user-friendly AI technology. By combining her deep industry knowledge with the latest AI innovations, Meg offers tailored training programs, expert guidance, and practical resources to empower her clients on their AI journey. 

You’ll hear Meg explain how tools like ChatGPT and Fathom can streamline processes, improve efficiency, and save time (and money) for food businesses. Whether it's drafting newsletters or conducting market research, AI can bring you a step closer to your goals. Meg also highlights the importance of data privacy and offers practical advice for founders on leveraging AI.

They discuss:

• How to get started with AI, and the tools available to streamline your business

• The ways AI can elevate your communications strategy

• Saving time by creating standard operating procedures (SOPs) with AI

• How generative AI can create synthetic focus groups to test new ideas and gauge customer reactions

• Tips for keeping your data secure

• And so much more! 

Sign up for your free 30 minute audit with Meg, and get started with Generative AI today! 

Then check out our bonus episode with Meg, recorded exclusively for BABOYOT members.

Connect with Meg:

Website: Spread Aioli

LinkedIn: Meg Faibisch Kuhn

From our News Segment:
Can AI Help Cut Plastic Waste from the Food System?

Stay Connected!

Instagram: @TheGoodFoodCFO
YouTube: @thegoodfoodcfo

Join us in The Good Food CFO Community

From starting small and leveraging diverse experiences to embracing challenges and making strategic decisions, this story is a testament to the power of resilience and adaptability. 

In this episode, Sarah is joined by entrepreneurs Pace Webb and Chris Georgalas as they share their journey in the food industry. They discuss their backgrounds, the founding of their businesses, and the challenges they faced, including the impact of COVID-19. Pace talks about her early entrepreneurial experiences and her catering company, Taste of Pace, while Chris shares his transition from Wall Street to co-founding Daddy's Chicken Shack. They highlight the importance of customer feedback, strategic decisions, and forward thinking.

With a track record of entrepreneurial success spanning 20 years, Pace has proven herself as a dynamic force in the business world. As the founder of Taste of Pace and Daddy's Chicken Shack, she has a reputation for excellence in the culinary industry. Chris Georgalas is a seasoned professional and entrepreneur with over two decades of experience in business analysis, investment strategy, client relations, and technology. His passion for hospitality, the guest experience, and consumer insights, coupled with an affinity for innovative technologies, has been a driving force throughout his career. 

Pace and Chris went on to collaborate with Area 15 Ventures to expand the company infrastructure, develop franchise models, and successfully sell 150 units nationwide within 18 months, ultimately leading to the sale of Daddy’s Chicken Shack to Area 15 Ventures.

In this conversation, you’ll hear:

• How Pace pivoted from high end catering to selling fried chicken sandwiches

• What the pandemic did to their catering business, and why they knew it was time to pivot

• Chris’s vision for the future of the food industry, and how that played into they way they built Daddy’s Chicken Shack from the start

• How they decided to franchise Daddy’s, and when they knew it was time to walk away

• And so much more! 

Connect with Taste of Pace

LinkedIn: Taste of Pace

LinkedIn: Chris Georgalas

From Our News Segment:

PBS: A Brief but Spectacular take on Painting the People Who Feed America

BABOYOT Member Highlight:

Wild Muskoka Botanicals

Annual Member Chris Gilmour

Website: Wild Muskoka

Stay Connected!

Instagram: @TheGoodFoodCFO
YouTube: @thegoodfoodcfo

Join us in The Good Food CFO Community 

Trusting in the process can be the hardest and most rewarding thing you can do for your Good Food business.

In this episode, Sarah is joined by Lauren Montgomery, the founder of Monty’s, to discuss the intricacies of building a sustainable food brand. Lauren's journey from a deep passion for nutrition to creating the cleanest ingredient cashew cream cheese and plant-based butter on the market is both inspiring and educational.

Lauren shares how Monty’s early and fast growth caused some growing pains, and how a pause to recalibrate helped her lay the foundations that would eventually allow for the sustainable growth she is enjoying today.

You’ll hear:

• What made Lauren decide to slow down and ensure every aspect of the business was in alignment with her vision

• How she approached reducing costs without sacrificing the integrity of her product

• The importance of diversifying your business

• Lauren’s best advice for emerging food business founders

• And more! 

Connect with Lauren

Montys Website: livemontys.com

Montys Social: @montysnyc / @thefulllaurenmonty

From Our News Segment:

Foxtrot Returning to Chicago Under New Company

Foxtrot Reopen Chicago, Dallas, Austin Locations

Foxtrot Chicago, Dallas, and Austin Corner Store Comeback

Stay Connected!

Instagram: @TheGoodFoodCFO
YouTube: @thegoodfoodcfo

Join us in The Good Food CFO Community