Tofurky's success can be attributed to its innovative product line, including the introduction of Tofurky slices and sausages.
Seth Tibbet's decision to keep Tofurky as a family-owned business allows him to prioritize the mission and maintain control over decision-making.
Deep dives
The Birth of Tofurky and the Rise of Plant-Based Proteins
Seth Tibbet, a committed vegetarian, started his tempe business in 1980, barely scraping by. Everything changed when he collaborated with a catering team to create a frozen holiday roast called Tofurky made from tofu. Despite initial skepticism, Tofurky became a symbol of vegetarian pride and gained popularity. As the demand for plant-based protein increased, Tofurky expanded its product line to include deli slices and sausages. The mainstreaming of plant-based foods allowed Tofurky to achieve nationwide distribution and profitability. Seth Tibbet's persistence, hard work, and timing with the growing natural foods industry all contributed to Tofurky's success.
The Challenges and Growth of Tofurky
During its early years, Tofurky faced challenges, including the need to find a larger space to meet demand. Seth Tibbet eventually rented an old school building and received the support of local co-ops to embrace the concept of Tofurky. Despite initial resistance and mocking, Tofurky's unique name and innovative product gained media attention and became a hit, making Tofurky a national brand. The introduction of Tofurky slices and sausages further propelled the company's growth and mainstream appeal.
The Decision to Stay Independent
Despite numerous tempting offers from private equity firms and big companies, Seth Tibbet chose to keep Tofurky as a family-owned business. He believes he is already rich beyond his wildest dreams through the joy and fulfillment he finds in running Tofurky. Keeping control of the company allows Tibbet to prioritize the mission and maintain the freedom to make decisions without interference. Tofurky continues to experience growing demand and is investing in new production lines to meet the needs of its customers.
The Success of Tofurky: Hard Work, Luck, and Timing
Seth Tibbet attributes Tofurky's success to a combination of hard work, persistence, luck, and good timing. While luck and timing played a role in riding the wave of the emerging natural foods industry, Tibbet's dedication, perseverance, and ability to learn from mistakes were crucial factors. Tofurky's success also stems from its mission-driven focus, commitment to providing quality plant-based products, and its ability to adapt and innovate in response to changing consumer demands.
Seth Tibbott may be the only founder in the world who grew his business while living in a barn, a teepee, and a treehouse. His off-the-grid lifestyle helped him save money as he started to sell tempeh, a protein made of fermented soybeans. Throughout the 1980s he barely scraped by, but things took a turn in 1995, when he discovered a stuffed tofu roast made in Portland, Oregon. Knowing vegetarians had few options at Thanksgiving, Seth named the roast Tofurky and started selling it at co-ops in the Pacific Northwest. Nearly 25 years later, Tofurky sells plant-based protein around the world, and has estimated sales of $40 million a year. This show was recorded live at Revolution Hall in Portland, Oregon.
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