10 Food & Beverage Company Success Stories [2024]
Launching a food and beverage company taps into an evergreen necessity—everyone needs to eat, and they often crave something new. This business idea revolves around producing and selling a variety of food and beverages, whether that means specialty snacks, gourmet meals, organic juices, or even customizable meal kits.
Starting a food and beverage company demands hard work. You'll need to develop unique recipes, maintain high standards of quality, and navigate complex health regulations. You must also establish a strong supply chain and efficient distribution methods. Building a recognizable brand and achieving shelf space in brick-and-mortar stores—or online visibility—can be equally challenging yet rewarding.
However, the satisfaction of seeing your product enjoyed by consumers provides a genuinely fulfilling entrepreneurial pursuit. If you have a passion for food and creativity in the kitchen, starting a food and beverage company might be your recipe for success.
In this list, you'll find real-world food & beverage company success stories and very profitable examples of starting a food & beverage company that makes money.
1. Cape Whoopies, Maine's Gourmet Whoopie Pie LLC ($960K/year)
Marcia Wiggins, founder of Cape Whoopies, came up with the idea for her business after tasting her first whoopie pie and realizing it had great potential for unique flavor combinations. With a mission to share delicious whoopie pies made with the highest quality ingredients, Marcia started selling her products online and opened a brick & mortar store that she shares with a coffee shop. Sales have increased by an impressive 81.16% in the first month of operation.
How much money it makes: $960K/year
How many people on the team: 1
Cape Whoopies increased their total sales by 40% by partnering with a coffee shop, scaled their business up by doubling their equipment and incorporating temperature-tracking computer chips to test the temperature for shipping, and grew by 150%, making 47% of sales online and the remaining 53% from their brick & mortar storefront.
2. Plum Deluxe Tea ($900K/year)
Andy Hayes, the founder of Plum Deluxe, started off with a blog and a desire for a more fulfilling career. After generating traffic and revenue through display ads and affiliate relationships, Andy decided to launch his own product. Drawing on his love for tea and missing the flavors from Europe, he partnered with a tea farmer's market booth to create unique tea blends. Through launching his business with a built-in market and strategic marketing efforts, Plum Deluxe has grown to become one of the largest tea subscription boxes, on track to hit 7-figure annual revenue.
How much money it makes: $900K/year
How many people on the team: 7
How Andy Hayes built a 7-figure online loose leaf tea business, with one of the largest tea subscription boxes and a curated selection of tea accessories, generating half of their revenue from a la carte tea sales and half from their popular tea of the month club community.
3. Bluebird Provisions ($635K/year)
After being told he would never run again due to a foot injury, the founder of Bluebird Provisions Bone Broth healed his foot and got back to winning ultra marathons using bone broth. Fueled by his conviction to share this healing elixir, he quit his job and started Bluebird Provisions. Now, the brand is the fastest-growing bone broth brand in North America, with monthly revenues of $49,000 and a 5000% increase in customer base since its inception.
How much money it makes: $635K/year
How much did it cost to start: $30K
How many people on the team: 1
Bluebird Provisions Bone Broth is North America's fastest-growing bone broth brand, doing 49,000 per month and growing 50% YoY, with 5000% growth in customer base since starting, thanks to an SEO-focused strategy, email marketing, referrals, and Amazon.
4. Eli Mason ($540K/year)
Christopher bought this business from the original founder in 2017 after he fell in love with their products at local bottle shops. He was struggling to make a good cocktail on his own, and this was the first one his wife also loved!
How much money it makes: $540K/year
How much did it cost to start: $10K
How many people on the team: 0
How Christopher Thomas turned a struggling cocktail mixer brand into a consistent low five-figure business by investing in e-commerce growth and customer reviews, focusing on all-natural ingredients, and revamping the website and packaging.
5. Simple Green Smoothies ($360K/year)
Jen Hansard, the co-founder of Simple Green Smoothies, came up with the idea when she stumbled upon an article about boosting the immune system with green smoothies. After experiencing the health benefits firsthand, she started sharing recipes on Instagram and her blog, which eventually turned into a successful business generating as much as $30,000 a month in revenue.
How much money it makes: $360K/year
How many people on the team: 1
Simple Green Smoothies boasts a free 7-day smoothie challenge that has helped over 2 million people take control of their health and generates revenue with programs ranging from a 21-day cleanse to a plant-based meal planner, bringing in as much as $30k a month and also working to help women farmers in Cambodia build mushroom farms through World Hope International.
6. Momentum Coffee and Coworking ($156K/year)
Tracy G. Powell and Nikki Bravo founded Momentum Coffee and Coworking in May 2020 with the goal of creating an affordable co-working space for underrepresented entrepreneurs in Chicago. Despite facing challenges during the pandemic, their strong relationships with customers, intentional partnerships, and active social media presence have helped them attract and retain customers, with their revenue reaching $17-20k per month.
How much money it makes: $156K/year
How much did it cost to start: $200K
How many people on the team: 4
Chicago based Ignite Technology and Innovation-owned Momentum Coffee & Coworking, which focuses on coffee, coworking, community, and event space, rakes in about $17-20k a month in revenue, mostly from online and offline advertising, and just celebrated their first anniversary, with plans to open 2 more locations in Chicago in under-resourced communities.
7. VIRTUE Tea ($108K/year)
Andrea Legg and Alex Balcer, founders of VIRTUE Tea, left their careers in the circus industry to start their organic tea and matcha business. After experiencing high-grade tea while traveling in Europe, Andrea became hooked and they decided to create a business focused on quality, ethical sourcing, and minimizing environmental impact. Despite the challenges of COVID-19, their online sales have tripled and they have expanded their reach to customers across Canada and the US.
How much money it makes: $108K/year
How much did it cost to start: $5K
How many people on the team: 2
VIRTUE Tea is a business founded by Andrea Legg and Alex Balcer who source high-grade organic tea from Asia through ethical supply chains, and their business, despite COVID, is now shipping tea and matcha to various locations in Canada and the U.S.
8. Jibby Coffee ($102K/year)
James and Álvaro, the founders of Jibby Coffee, came up with the idea for their business during a Zoom call in March 2020. Álvaro mentioned adding CBD to his coffee to improve his mood, and that sparked the idea to create a coffee brand that balanced the natural jitters of caffeine with CBD. After months of refining their product and working through production challenges, they successfully launched Jibby Coffee and sold out of their initial production run in just two weeks. They continue to receive feedback from customers, refine their messaging, and plan to expand their product offerings in the future.
How much money it makes: $102K/year
How much did it cost to start: $30K
How many people on the team: 0
Jibby Coffee is a feel-good coffee brand that raised $8.5k per month by cold-brewing organic Colombian coffee and balancing it with tasteless, lab-tested CBD to create a better coffee experience.
9. Simple Goodness Sisters ($84K/year)
Belinda and Venise, the Simple Goodness Sisters, came up with the idea for their business while running a mobile bar company. Clients constantly asked how to recreate the fresh, farm-fresh drinks served at their events, leading them to develop their own small-batch, homemade mixers made with ingredients from Venise's farm. After much research and hard work, they launched their farm-to-bar mixers and accessories in Fall 2018, with their products gaining popularity in the cocktail and alcohol-free cocktail scene.
How much money it makes: $84K/year
How much did it cost to start: $30K
How many people on the team: 0
Simple Goodness Sisters is a lifestyle beverage brand that produces "farm to bar" cocktail mixers and accessories made with natural, sustainable ingredients, growing at a rate of 4 times their original production.
10. Revive Me ($6K/year)
Ryan Pfeiffer, founder of Revive Me, came up with the idea for his wellness shot company after realizing the need for a convenient and effective way to boost the immune system. As an investment banker in New York, he couldn't afford to get sick and would load up on vitamins and health drinks. After experimenting with ingredients and receiving strong validation from a friend, Ryan created a unique blend of ingredients that became his signature product. He hand-delivered bottles himself to improve customer relationships and launched his business with a soft launch in New York. Despite not being profitable yet, Ryan is focused on investing every dollar back into the business and growing his online sales.
How much money it makes: $6K/year
How much did it cost to start: $6K
How many people on the team: 0
Revive Me is a wellness shot company projected to reach $5k in sales over the coming months, providing a natural, shelf-stable drink that caters to anyone who doesn’t have time to be sick or rundown.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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