Disclosure
About 50% of Nuts.com products have direct or indirect tariff exposure
“Like, you know, today when I think about tariffs and our exposure, I would say direct and indirect exposure to tariffs is like, 50% of our products.”
Insight
Nuts.com B2B yields higher net margins than DTC despite lower gross margins
“What we find with our, call it on the website, but our B to B business, believe it or not, even though the margins, the gross margins are lower, the net margins are higher when you factor in everything. Just a much stickier customer and just handling those ord…”
Assertion Not checkable as stated
Newark Nut Company generated about $1M annually in the late 1990s
“No, about a million dollars.”
Assertion Not checkable as stated
NutsOnline saw daily orders jump 10x immediately after launching Google AdWords
“We launch the ad campaigns immediately on, and it's like the floodgates completely open. It goes up 10 X immediately. But if we were doing three orders a day, suddenly it's 30.”
Insight
Nuts.com found product demand by dumping supplier catalogs into keyword tools
“We would take catalogs from our suppliers, and you'd dump them into a keyword tool. So you didn't need to do any Research. It just told you what people were searching for.”
Assertion Not checkable as stated
Wholesale dropped to roughly 2% of revenue by the 2012 Nuts.com rebrand
“I know the revenue we did when we switched to nuts.com, and at that point, the wholesale business is like, you know, two percent or something, three percent.”
Assertion Supported
NutsOnline shipped 40,000 pounds of peanuts for a fan campaign saving Jericho
“So the number I remember was we shipped 40,000 pounds of peanuts. So that's that full truckload of peanuts.”
Insight
The viral Jericho campaign yielded few repeat buyers but massive SEO backlinks
“Interestingly, from a business standpoint, we then did some analysis on, hey, did these people become customers and come back? Nah, not really. But what I realized was we're getting links, as you can imagine, mattered a lot then. New York Times. That's a lot o…”
Assertion Not checkable as stated
The Nuts.com domain owner rejected Jeff Braverman's $200,000 offer in 2005
“I feel like I gave him an offer that I thought was quite generous. I think I offered him something like 200,000 dollars then. Yep. And he just said, no thank you.”
Assertion Not yet assessed · timeframe Dec 2011
Rachael Ray mistakenly credited Nutsonline as Nuts.com on air in 2011
“We did ship them to Rachel Ray, and at the very end, she says, in the credit, she says, oh, I really want to thank nuts.com. And we were nutsonline.com, so I was like, oh, man.”
Assertion Partly supported
Jeff Braverman purchased the Nuts.com domain for $700,000 in 2012
“Sold to me was 700,000 dollars.”
Assertion Not checkable as stated
Nuts.com experienced a 70% worker call-out rate after Easter 2020
“The employees would reflect a lot on the weekends, and then more would be scared to come in, and that Monday, we had 70% worker call out.”
Disclosure
Nuts.com scaled quickly and profitably without ever taking outside investment
“We never took on investors. We grew, we figured out the model. We grew
Very quickly and profitably.”
Assertion Not checkable as stated
Jeff Braverman spent around $3,000 to build the original NutsOnline website
“I ended up spending closer to 3000 dollars, you know, because I had to hire a company, and so on and so forth.”
Disclosure
Jeff Braverman joined his family's business for 10% equity and $28,000 draw
“I said, Hey, I want 10% of the business. I want 50% of the upside of profit. There wasn't much profit. And I need a draw, because I need some money to, I was still living in Manhattan, so I took a 28,000 dollar draw against my profit share.”
Assertion Not checkable as stated
Toll-roasting cashews instead of buying pre-roasted saved the company $10,000
“Well, why don't we just send him the raw cashews, pay him just to toll it, just to roast it. And that suddenly saved us 10,000 dollars.”
Assertion Not checkable as stated
Nuts.com holds significant market share supplying ingredients to US microbreweries
“We have significant market share of microbreweries across the U.S.”
Assertion Not checkable as stated
B2B sales eventually reached 20% to 25% of Nuts.com's total revenue
“It was probably 15% of our revenue or so, maybe, maybe, actually at that point, probably more. Maybe 20, 25%.”
