Pete Maldonado and Rashid Ali (Founders of Chomps)—What Does It Really Take to Bootstrap a National Snack Brand and Be Profitable in 30 Days?

Good Money with Derrick Kinney

Derrick Kinney

Investing, Entrepreneurship, Business

5 • 1.5K Ratings

🗓️ 26 June 2023

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

As a personal trainer, Pete Maldonado struggled to find healthy snacks that were truly clean, high in protein and easy to enjoy on the go. In 2012, Pete and his business partner Rashid Ali created a grass-fed beef jerky stick company called Chomps. They started selling meat sticks direct-to-consumer through Facebook ads out of Pete’s spare apartment bedroom.

Chomps was profitable within the first 30 days. And now, nearly 10 years later, Chomps is one of the fastest growing snack brands in the country. Today, Pete and Rashid reveal how they got Chomps to be profitable so quickly. And I’ll give you a hint: They taught themselves to do everything and threw their ego to the curb.

Plus, they share why you should throw the start-up playbook out the window and when to ignore advice if it doesn’t agree with your gut. Rashid and Pete give a really powerful example of what that looks like. They’re getting honest and real about what it really takes to bootstrap a snack brand successfully. And the decisions they made that people thought were crazy—but have paid off big time.

Buy Chomps HERE.

Order your copy of the USA Today and Wall Street Journal bestselling book Good Money Revolution here: https://amzn.to/34hSonE

Ready to take your business to the next level? Schedule a call with Derrick today here: www.GoodMoneyFramework.com/consulting

For daily tips to help you make and save money, follow us on Instagram @derricktkinney

Transcript

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0:00.0	Welcome to the Good Money Podcast where we believe money is not bad and good people should
0:12.5	have more of it.
0:13.9	We help business owners and entrepreneurs just like you build their business and build
0:18.4	their wealth so they can do more good.
0:21.4	We know that running a business can be hard and sometimes you feel like you're all alone.
0:26.7	That's why each week we give you access to the best business minds.
0:30.8	We bring you insightful interviews, impactful stories, and the inspiration you need so
0:35.7	you can build the business you want and enjoy more meaning and freedom in your life.
0:41.1	I'm your host, Derek Kim.
0:45.2	As a personal trainer, Pete Maldonado loved creating custom meal plans for his clients,
0:51.5	but Pete struggled to find healthy snacks that were truly clean, high in protein, and
0:56.9	easy to enjoy on the go.
0:59.0	And let's be honest, did not taste like sawdust.
1:02.9	Pete met his now business partner and COO Rashid Ali at a poker night.
1:07.9	Later, he recognized that with Rashid's finance and operations knowledge, they could
1:12.9	create something special.
1:14.9	In 2012, they created a grass-fed beef jerky stick company called Champs.
1:21.0	In fact, they started selling meat sticks direct to consumer through Facebook ads out
1:25.8	of Pete's spare apartment bedroom.
1:28.3	Champs was profitable within the first 30 days, and now nearly 10 years later, Champs
1:33.8	is one of the fastest growing snack brands in the country.
1:37.2	You probably seen them at Trader Joe's or Target.
	...

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