Dan Schorr, founder of Vice Cream, discusses his 5-year target to compete directly with category incumbents in super-premium ice cream.
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“Our goal is to, over the next The next five years is to build, you know, a national brand that has significant, you know, revenue and is a major player out there to be a third brand to Ben and Jerry's and Haagen does in the super premium space.”
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More from Dan Schorr
Insight
Schorr: CPG founders must create physical product prototypes before developing packaging
“In some ways, step one was just to take a step, was to produce some product to actually get product that was like, that you could taste that made it real. Step two is get the package in mind.”
Dan SchorrJul 31, 2017▶ 24:38Dan Schorr – Death, Ice Cream, and Entrepreneurship (Capital Allocators, EP.19)
Insight
Schorr: Food venture funds lowered sales thresholds from $5M to $1M
“So before maybe two, three years ago, you'd have a small fund that would say, we're not touching you unless you're under, unless you're five million or more. And I think that bar has moved down now to a million or more because I don't think they want to cut th…”
Dan SchorrJul 31, 2017▶ 31:46Dan Schorr – Death, Ice Cream, and Entrepreneurship (Capital Allocators, EP.19)
AssertionSupported
Schorr: Unprofitable CPG companies grossing $150M–$200M sell for $1B
“There's companies that are grossing 152 hundred million dollars and aren't profitable and are selling at five X for a billion dollars.”
Dan SchorrJul 31, 2017▶ 36:50Dan Schorr – Death, Ice Cream, and Entrepreneurship (Capital Allocators, EP.19)
AssertionPartly supported
Schorr: The overall super-premium ice cream category is flat or down
“So super premium ice cream is, is flat or down as a whole pints are doing really well. Private labels taking some hits, but a market trend, consumer trend was something that we all missed a little bit and it's having an impact.”
Dan SchorrJul 31, 2017▶ 38:42Dan Schorr – Death, Ice Cream, and Entrepreneurship (Capital Allocators, EP.19)
Disclosure
Schorr: Vice Cream demands full weekday commitment late into the night
“I tell people, I want your time Monday through Friday, and that may be 11 and two in the morning. And on weekends, you're on your own for the most part, unless you're working event.”
Dan SchorrJul 31, 2017▶ 40:56Dan Schorr – Death, Ice Cream, and Entrepreneurship (Capital Allocators, EP.19)
Disclosure
Schorr: Early-stage Vice Cream is managed like a $50M business
“I'm managing this like a 30 or 40 or fifty million dollar company. We do an annual off-site that we did in December for next year's planning, and then we religiously, religiously being a year and a half, two years, have a quarterly one-day session to do check-…”
Dan SchorrJul 31, 2017▶ 42:49Dan Schorr – Death, Ice Cream, and Entrepreneurship (Capital Allocators, EP.19)
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