Ahmed Rahim, co-founder of Numi Organic Tea, describes the timeline to cash flow stabilization and profitability.
0:00 / 0:06exact quote · 6.1s
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“About 10 years into the business, we were able to kind of get a lot more solid and create a profitable EBITDA.”
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More from Ahmed Rahim
Opinion
Ahmed Rahim credits psychedelics with saving his life and expanding his worldview.
“Well, I always say that psychedelics saved my life, and definitely gave me an awareness of what the bigger world is like”
Ahmed RahimJul 5, 2021▶ 7:49Numi Organic Tea: Reem Hassani and Ahmed Rahim
“It was actually a great opportunity for us, because coffee roasters and the food service didn't want to support necessarily Starbucks, so they wanted who's the new kid on the block, and Numi was a great fit, so we actually were able to take advantage of that o…”
Ahmed RahimJul 5, 2021▶ 41:50Numi Organic Tea: Reem Hassani and Ahmed Rahim
AssertionNot checkable as stated
Numi Tea Financed Its Launch With a $250K Line of Credit on Dad's Home
“We went to our dad and asked him if he would use the leverage of his house to get a loan. So we partnered with a bank in Cleveland and he refinanced his home and he had a line of credit on his home up To X amount, but we just started with a 250,000 dollar line…”
Ahmed RahimJul 5, 2021▶ 35:21Numi Organic Tea: Reem Hassani and Ahmed Rahim
AssertionNot checkable as stated
Numi hit $4.5 million in revenue by year four on $2,000 salaries.
“Yeah, we were already probably north of four and a half million by year four, and we were probably taking two to 3000 a month of salary.”
Ahmed RahimJul 5, 2021▶ 47:54Numi Organic Tea: Reem Hassani and Ahmed Rahim
AssertionNot checkable as stated
Hain Celestial made a firm acquisition offer to purchase Numi Tea.
“Yeah, they did make a hard offer.”
Ahmed RahimJul 5, 2021▶ 49:36Numi Organic Tea: Reem Hassani and Ahmed Rahim
Disclosure
Numi tapped a $1 million credit line on their father's house.
“We just had this working line capital from the bank on our dad's house, which by then increased to almost a million dollars.”
Ahmed RahimJul 5, 2021▶ 52:24Numi Organic Tea: Reem Hassani and Ahmed Rahim
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