Junea Rocha launched Brazi Bites over a decade in the past with a single snack. Since then, the better-for-you Latin-inspired foods brand has grown each year–and it is on tempo to method $30 million in income in 2021. Rocha stepped down as CEO to change into chief advertising and marketing officer after a non-public fairness sale, however she and her co-founder husband, Cameron MacMullin, nonetheless personal a minority stake. We caught up with Rocha to speak about what it takes to let new cooks into your startup kitchen.
How did being on Shark Tank have an effect on your organization’s development?
Demand exploded in a single day. We grew to $eight.5 million in 2016 income from lower than $1 million the 12 months earlier than. If we would been in a position to shift gears extra shortly, we might have made much more, however within the meals trade, that is powerful to do. We moved as quick as we might.
How did the take care of San Francisco Fairness Companions come about?
Cameron and I noticed huge potential within the model, however we did not have the group and the system to continue to grow. It was the 2 of us and 5 others operating the corporate and we had been in nearly 10,000 shops. It was loopy. We received a bunch of curiosity from personal fairness teams. We weren’t wanting to only increase more cash and tackle extra threat, so we felt that deal was very best as a subsequent step.
Had been you hesitant to surrender the CEO function?
It wasn’t very laborious. I used to be the CEO and in addition overseeing all gross sales and advertising and marketing. That was quite a bit. It was a continuing juggle to prioritize what would transfer the needle for the corporate extra. I checked out the place I might add essentially the most worth and the place I had essentially the most enjoyment each day. I am very related to the buyer facet, so it was extra like, “Wow, I get to focus solely on this? That sounds fairly nice.”
What recommendation do you’ve for entrepreneurs fascinated by a sale to a PE agency?
Arrange your enterprise and begin speaking to folks and testing. We had three paths–raising cash, promoting to a strategic purchaser, or personal equity–and as we explored these choices, the selection grew to become clear. In the event you resolve to associate with a PE group, spend as a lot time with them as you’ll be able to having actually sincere conversations. You are going to be working with them quite a bit and you want to be ready to go in any path in any way.
From the September 2021 difficulty of Inc. Journal