What Should I Consider When Evaluating a New Concept?

Ray Latif

Bob Burke, the founder of Natural Products Consulting, has seen dozens of new brand pitches in his 25+ years working in the food and beverage industries. In each encounter with a new entrepreneur, Burke says that he asks a few simple questions to gauge whether or not a brand will have a chance in the marketplace.

“Is this truly innovative?” he asks entrepreneurs. “Is this going to drive incremental growth in the category [and] attract a new user? Or is it really just swapping dollars from one brand to another?”

These questions are critical for brand owners to ask of themselves well before a launch, and the difference between landing seed financing, or simply another in a long line of unfunded ideas.

In this video, which we’ve made available to view at no cost, Burke offer much more on what to consider when evaluating your new concept, including details on the gross margin that you’ll need to make it on the shelf and stay there.

For FBU subscribers, you can learn more about brand development for new and early-stage company by watching our interview with Burke in its entirety. If you’re not a current subscriber, sign up today.

[player path=”free-bevnet-food-beverage-content/what-factors-should-I-consider-when-evaluating-a-new-concept-2″]

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