Naming and Pricing Strategy for RX Bar

To start from scratch is never easy, but Peter Rahal, co-founder of RxBar didn’t know any other way to do it. He and his team manufacture whole food protein bars with a “No B.S” value proposition since the base of the bar only includes whole food ingredients like egg whites, almonds, cashews, and dates. They sell more than 175,000 bars per month and can be found in Trader Joe’s across the country as well as Wegmans Grocery, Whole Foods and many more. Today’s you’ll hear Peter’s success story - from apartment workshop to national distribution.

Here’s a glimpse of what you’ll learn:

• [0:09] Jeremy’s introduction to this episode featuring Peter Rahal.
• [1:42] Starting out in an apartment and no office.
• [7:50] How Peter and his partner started the business with no cash.
• [14:04] Selling products door to door at Crossfit gyms: Here’s the sales pitch.
• [17:10] How the business was started while Peter was working a full time job.
• [20:20] Peter’s family heritage of entrepreneurism.
• [22:40] Building the team over time.
• [23:43] The growth of company culture from the beginning until now.
• [29:54] Why the name “RxBar?”
• [32:10] Shooting for ONE key performance indicator.
• [37:48] Helpful mindsets for working with big chain stores like Trader Joe’s.
• [43:50] The low point Peter had in his business success.
• [45:50] Peter’s proudest moments: seeing his team happy.

In this episode…

If you want to be inspired by a story of a guy whose business was started entirely from scratch, Peter Rahal is the guy. This conversation uncovers his story and reveals how hustle, hard work, and a commitment to excellence with no compromise built RxBar into the national brand it is.

When Peter and his partner started RxBar the two of them were creating the products in their apartment, packaging each bar themselves, and selling them door to door at Crossfit gyms throughout Chicago. Very few business founders are willing to put in that kind of hustle to make their business successful, so if you want to learn what it takes to make a tough business a success, you’ve got to hear Peter’s story.

As the RxBar team has grown over the years they’ve added many products and flavors to their lineup and quality has always been at the top of their priority list. They only use natural ingredients and every product has to taste delicious or they won’t produce it. You can hear how Peter Rahal and his team consistently crank out products of that caliber on this episode.

Team culture is important to Peter Rahal. He says that his proudest moments are when he walks into the office or manufacturing facility and sees that his team is doing well and everyone is happy. That’s what he wants and he strives to ensure it’s the case, day in and day out. He and his team of 29 employees have come a long way since Peter and his partner started from scratch in their apartment years ago.

RxBar is sold across the United States in many stores - Trader Joe’s, Whole Foods, and others. Peter Rahal, co-founder of RxBar is proud of their success and says that anyone who makes it to the level they have has got to take their relationships with large retailers seriously. You’ve got to see the retailer as a part of your team - and yourself as part of their team. Do everything you can to help the retailer be successful and you will be successful as a result. You can hear Peter’s entire story on this episode of Inspired Insider.

Resources Mentioned on this episode

• www.RxBar.com

Sponsor for this episode

Our sponsor today is www.Rise25.com where entrepreneurs of 6,7, and 8 figure businesses come together live and in person every few months to solve their biggest business challenges through this high-level Mastermind group. Each member leaves each week with lifelong friendships and actionable steps to take their business to the next level. Check out Rise25.com - a group run by myself and cofounder John Corcoran. Rise 25 is application only.