This Protein Drink Entrepreneur Was Capable of Elevate $eight Million — After Transferring Throughout the Nation

Iconic Protein’s Billy Bosch hit a wall a number of years after launching the model, so he packed up and headed west.

February
11, 2019

three min learn

How far are you prepared to go for your corporation? For Billy Bosch, the reply was throughout the nation.

The founding father of Iconic Protein, a maker of drinks and powders based in 2013, had some luck on the early levels of his firm when he was primarily based in New Orleans, profitable about $150,000 from pitch competitions. He then was in a position to safe a low curiosity mortgage of $250,000 by means of a neighborhood innovation fund, one other $100,000 from a friends-and-family spherical, and at last a $1 million seed spherical from New Orleans buyers. Nonetheless, Bosch wanted fixed capital to fund manufacturing runs, get into retailers and market his model.

Picture credit score: Courtesy of Iconic Protein

“New Orleans is a unbelievable place to start out a enterprise … however when it got here to elevating a sequence A, I simply could not discover the buyers there,” Bosch mentioned. “The hunt for cash led me out to the West Coast” in 2016.

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“California is the marketplace for well being and wellness,” he added. “I used to be single. I did not have numerous stuff. So I packed a bag and got here out for the summer time and crashed on a sofa. I began seeing a lot success stepping into shops from San Diego to Los Angeles, that I am like, ‘I’ve bought to remain out right here.'”

Bosch nonetheless needed to hustle to get cash, nonetheless. He mentioned it took 250 to 300 conferences to persuade 30 buyers to fund an $eight million sequence A spherical in 2017. However his efforts paid off. Iconic’s ready-to-drink drinks and protein mixes can now be discovered in additional than 6,500 shops. The corporate mentioned it has averaged greater than 150 p.c year-over-year income development for the previous three years. Its best-selling merchandise are its Chocolate Truffle, Cafe Latte and Vanilla Bean grass-fed dairy protein drinks. The corporate employs 16 folks.

 

Picture credit score: Courtesy of Iconic Protein

What led Bosch to beginning Iconic was his personal unhealthy consuming habits. Earlier than changing into an entrepreneur, he was a touring account supervisor for Shell, consuming the “worst meals that America has.” A health care provider identified him with excessive ldl cholesterol, indigestion and heartburn, and questioned him about his food regimen, he mentioned. However when the physician prescribed him drugs, Bosch mentioned he knew he wanted to alter his food regimen. So he went to a nutritionist, Molly Kimball, who suggested him to eat extra protein within the type of a shake.

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“I went again to her and I introduced each protein drink I may discover, and piled them on her desk,” Bosch recalled. She mentioned all of them had been unhealthy. “So out of frustration, I mentioned why do not you assist me create a drink?”

Bosch labored with Kimball on a formulation, which led to the creation of Iconic. (She’s credited with creating the formulation, however isn’t concerned with the corporate.) It is this improvement course of that Bosch finds most satisfying about operating his personal firm.

“Probably the most satisfying a part of this enterprise is once you create a product and then you definately’re contacted by a buyer who says it is wonderful and so they drink it each day,” he mentioned. “Most entrepreneurs describe [running a business] as getting kicked within the face each day. The little little bit of gratitude that you just get from folks makes it completely price it.”

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