The Ledger
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Tofurky refuses to sell outside equity to maintain independent mission control.
“We haven't sold equity yet. You know, we'd like to keep our equity so that we can keep the mission at the center of our lives, and so that nobody can tell us what we can do or can't do.”
Tibbott: Tofurky was one of the first frozen products sold online
“You know that Tofurky was one of the first frozen products ever to be sold on the internet.”
Tibbott: Livestock takes 15 pounds of grain to produce one pound of meat
“You know, you take 15 pounds of grains and put it in to an animal, and you get maybe eight ounce or a pound of meat. As opposed to if you feed grain directly to people, boom, you know, you've saved so much grain and resources and land and everything”
Tibbott: Tofurky uses debt rather than equity to preserve mission control
“We've, we have just borrowed some money from ethical investor that we really feel. But it's a loan. No, it's a loan. We haven't sold equity yet. You know, we'd like to keep our equity so that we can keep the mission at the center of our lives, and so that nobo…”
Tibbott rented four trees for $25 a month to build a treehouse.
“One of my employees, Amber Yesick, had a,
Piece of land right outside Hewsem, and she offered to rent me four trees for 25 dollars a month.”
In 1986, a tofu company offered $25,000 to buy Turtle Island Foods.
“And actually, in 1986, I had an offer to sell the tempeh business to a local tofu company, and they offered me 25,000 dollars for the business.”
In 1994, chef Hans Robel sold 25 to 50 stuffed tofu roasts.
“In 1994, I was delivering tempeh to him, and he was making, it was around Thanksgiving, these stuffed tofu roasts that He had been working on, and he was selling them about to 25 or 50 a year, and they were a dome of tofu with stuffing in the middle”
Tibbott adopted the name Tofurky from a Portland sandwich maker in 1981.
“Okay, so I didn't invent the name Tofurkey, right? In 1981, when I was delivering tempeh around Portland, there was a Tofurkey sandwich, T-O-F-U-R-K-E-Y, and it was being made by King Harvest, local sandwich maker here in Portland.”
Tibbott: Natural food marketing lacked humor before Tofurky's controversial launch
“All of the natural food marketing wasn't very whimsical, or funny, or fun, and this was like fun, but it was also in the early days people kind of took offense to it a little bit, because you were taking on an iconic American meal, and a holiday, and everythin…”
Tibbott put The Washington Post on hold for The New York Times.
“At one point, I had to put the Washington Post on hold to talk to the New York Times.”
Tibbott: Tofurky is stocked in over 27,000 stores worldwide
“What we're seeing right now is the mainstream, you know, plant-based foods, and we're in 27,000 plus stores worldwide.”
Tibbott: Tempeh generates 10% to 15% of Tofurky sales and outpaces other lines
“Tempeh is roughly 10 to 15% of sales, but it's really outpacing some of our other products in growth right now, so we're just doubling.”
Applegate Natural Foods Placed a 1,000-Pound Weekly Tempeh Order in 1981
“In 1981, a distributor called Applegate Natural Foods out here in Tigard called up and said, we need you to make us a thousand pounds of tempeh a week.”
Tibbott Received a $25,000 Buyout Offer for His Tempeh Business in 1986
“And actually, in 1986, I had an offer to sell the tempeh business to a local tofu company, and they offered me 25,000 dollars for the business.”
Tibbott did not invent the name Tofurky; King Harvest used it in 1981
“Okay, so I didn't invent the name Tofurkey, right? In 1981, when I was delivering tempeh around Portland, there was a Tofurkey sandwich, T-O-F-U-R-K-E-Y, and it was being made by King Harvest, local sandwich maker here in Portland.”
Tofurky sold 818 units during its first holiday season in 1995
“I mean, we put self-addressed stamped postcards in every Tofurky that year. We sold 818.”
Tibbott: Tofurky was among the first frozen products sold online
“You know, that Tofurky was one of the first frozen products ever to be sold on the internet.”
Tibbott: In-house production drove Tofurky's shift to strong profitability
“It became really profitable because we brought the production of the tofurkey into, in-house.”
Tibbott: Tofurky is in over 27,000 stores worldwide
“What we're seeing right now is the mainstream, you know, plant-based foods, and we're in 27,000 plus stores worldwide.”
Tibbott built his first tempeh incubator in a fridge with Christmas lights.
“So I started making tempeh for friends and family, and there were retreat groups that would come out, so they wanted some tempeh, and I got an old refrigerator, and I strung Christmas tree lights up inside.”
Tibbott sold his early batches of tempeh for seven dollars.
“Five pounds of tempeh, you know, would bring in seven dollars.”
Tibbott: Forest Grove Co-op Rented Kitchen for $25 a Month
“So I went to the local co-op, Forest Grove, and asked if they would rent me their kitchen at night, and they said, yeah, we can rent it out to you for 25 dollars a month.”
Applegate Natural Foods ordered 1,000 pounds of tempeh weekly in 1981.
“So in April of 1981, a distributor called Applegate Natural Foods out here in Tigard called up and said, we need you to make us a thousand pounds of tempeh a week.”
Tibbott: Turtle Island Foods grossed about $1,300 monthly in early 1981
“We were grossing, like, 1300 dollars a month at that point”
Tibbott leased a 5,000-square-foot facility using a $160,000 family loan.
“There was an old tortilla factory in Hood River, which is 10 miles from Houston, and we rented out 5000 square feet of this 26,000 square foot building, and I borrowed the 160,000 dollars from Bob.”
Tibbott: Turtle Island sold 818 Tofurky roasts in 1995
“I mean, we put self-addressed stamp postcards in every Tofurky that year. We sold 818.”
Tibbott borrowed $160,000 from his brother to fund Hood River facility
“And I had to find a new space, and there was an old tortilla factory in Hood River, which is 10 miles from Houston, and we rented out 5000 square feet of this 26,000 square foot building, and I borrowed the 160,000 dollars from Bob.”