181: Alternative Food Investing with Very Good Foods CEO Mitchell Scott
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 27 May 2021
⏱️ 55 minutes
🧾️ Download transcript
Summary
Our mission is lofty, badass but beautifully simple:
Get millions to rethink their food choices while helping them do the world a world of good.
By offering plant-based food options so delicious and nutritious, we’re helping this kind of diet become the norm.
When you have a simple goal, it’s hard to mess it up: create damn good food, and well, keep it simple.
Unlike most plant-based alternatives out there, we don’t overcomplicate things. We go hard on taste, texture, protein and then call it a day. In return, you get all the benefits you had before, plus the extra feels of doing a s****tload of good for yourself, your planet and your furry friends. No brainer or what?
Plant-fuelled veteran or plant-curious rookie—it doesn’t matter. You’ll find our products put the fun back in functional, as we never compromise on taste or nutrition. And that goes for feeding fussy families or fuelling fitness-freaks. Geez, that’s a load of F’s! So, if you replace an animal-derived product with one of ours, you’d better be getting all the nutrients and the satisfaction from it. Otherwise, what’s the point, right?
Our method relies on complex scientific algorithms… said no one ever at Very Good Food Co. Yup, we do things a little differently. And that comes down to real people trusting their taste buds, Buds. Rather than petri-dish processes. In fact, our roots as a restaurant mean we’re foodies at heart. So you’ll find our R&D team mostly in test kitchens, finding creative and innovative ways to make the healthiest food possible, while challenging our out-dated reliance on animal products once and for all.
Very Good Food Company is traded on the Canadian Stock Exchange (ticker: VERY) & in the United States on the OTCQB market (ticker: VRYYF)
Listen to ILAB 181 on iTunes here or subscribe on your favorite podcast app.
Where we are:
- Johnny FD – Ukraine / IG @johnnyfdk
- Sam Marks – South Carolina/ IG @imsammarks
- Derek Spartz - Venice Beach / IG @DerekRadio
Sponsor:
- Support Invest Like a Boss: Join our Patreon
Discussed:
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*Johnny and Sam use all of the above services personally.
Time Stamps:
- 04:45 – What got you interested in alternative foods?
- 08:07 – Did this start as a side hustle or did you think this had real potential?
- 08:53 – Can you tell us about your experience with crowdfunding?
- 11:36 – How did “Dragon’s Den” (Canadian Version of Shark Tank) help with the business?
- 14:28 – Can you speak to why you use beans as your base ingredient for most of your products?
- 16:43 – Where do you source the ingredients for your products?
- 17:28 – Tell us about the expansion to dairy alternative products
- 18:56 – Tell us about going public in the canadian stock exchange and on the OTC market at such an early stage.
- 23:06 – How will you be distributing all of this new product you will create?
- 24:35 – What can you tell us about the new distribution deal?
- 26:12 – Is your focus in the future on retail?
- 27:28 – Have you partnered with any restaurants or chains?
- 28:13 – Where do you see the Very Good Food Company in the future?
- 29:31 – What do you think about the long term future of the industry?
- 31:02 – What do you think about the difference in food standards between Canada, the US and other countries?
- 33:10 – How do you try to encourage people to try a plant based diet?
- 34:42 – Even though you are currently operating at a loss, do you have a projection of when you will see profitability?
- 36:32 – Sam and Derek recap
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Transcript
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| 0:00.0 | Welcome to the Invest Like a Boss podcast. |
| 0:02.8 | I'm Sam Marks. |
| 0:03.6 | And I'm Johnny FD. |
| 0:04.5 | We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss. |
| 0:09.0 | Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash. |
| 0:19.5 | Welcome back, bosses. |
| 0:26.6 | This is episode 181. This is Sam Marks and I'm joined here with my very talented smart investing co-host, Derek, of California. And today we're going to be talking about meat |
| 0:32.7 | replacements or alternative meats. I don't even know if we've gotten the lingo right yet, Derek. |
| 0:37.0 | There's a lot out there. I'm not sure either. Thanks for those kind words, by the way. I said about six different phrases to our guest today. And he just went, yeah, that sounds good. So I'm not sure what the correct vernacular is here. Yeah, it's a tricky one. But what's important is, one, this stuff is good for the world. |
| 0:55.7 | Two, because it's good for the world, it's good for the human story. |
| 0:59.0 | And three, people are making a lot of money off of it. |
| 1:02.1 | Relatively new technology. |
| 1:04.3 | So with anything like that, you know, there's efficiency as a scale and economies of scale that have to be built into this |
| 1:11.2 | stuff yet. But Derek, I've been doing a deep dive into this stuff over the last two, three weeks. |
| 1:16.6 | It's very refreshing to know how many really smart people out there in the world are working on |
| 1:22.2 | solutions, including who we're going to have on this episode, a very good food company. |
| 1:26.3 | But I felt really good about life the last couple weeks, |
| 1:29.2 | just knowing how many companies all over the world, |
| 1:31.5 | not just in the U.S. or Canada, but all over the world, |
| 1:33.8 | are working on meat replacements, alternative meats, |
| 1:37.8 | and all types of sustainable. |
| 1:39.7 | We can get into more of the sustainable industry. |
... |
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